Service Sector Reforms Could Boost EU, Including Croatia's Productivity by Average of 5%, Says World Bank
October 5, 2016--While EU growth is projected to remain low, with limited scope for quick policy fixes, a new World Bank report says reforming the service sector could significantly boost incomes and convergence.
The World Bank EU Regular Economic Report (EU RER) projects that service sector reforms could increase productivity by an average of 5 percent, providing more and better jobs, stimulating investments, and deepening integration.
Currently, growth in the EU is expected to reach about 1.6 percent in 2016-17, driven by low oil prices and a supportive monetary policy, while in Croatia it is expected to be about 2.2 percent.
view the EU Regular Economic Report-Growth, Jobs and Integration: Services to the Rescue
Source: World Bank
National Statistics: UK official holdings of international reserves: September 2016
October 5, 2016-This monthly release shows details of movements in the UK's official holdings of international reserves, or assets.
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Source: HM Treasury
Boerse Stuttgart generates turnover of around EUR 6.3 billion in September
October 5, 2016--Trading in investment products exceeds total for previous month
Based on the order book statistics, turnover at Boerse Stuttgart in September 2016 was around EUR 6.3 billion.
The lion's share of this total was attributable to securitised derivatives with a trading volume of around EUR 2.7 billion.
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Source: Boerse Stuttgart
ESMA consults on requirements for the management of trading venues and reporting services providers
October 5, 2016--The European Securities and Markets Authority (ESMA) has today issued a consultation paper on draft guidelines which will further detail the implementation of the Market in Financial Instruments Directive (MIFID II).
The guidelines provide draft provisions management bodies of market operators and data reporting services providers will have to apply once MiFID II has entered into force.
ESMA consults on product governance guidelines to safeguard investors
October 5, 2016--The European Securities and Markets Authority (ESMA) has opened a consultation on product governance guidelines under the Markets in Financial Instruments Directive (MiFID II) regarding the target market assessment by manufacturers and distributors of financial products.
The requirements on product governance were introduced under MiFID II to enhance investor protection by regulating all stages of the life-cycle of products or services in order to ensure that firms which manufacture and distribute financial instruments and structured deposits act in the...
view the Consultation Paper on Draft guidelines on MiFID II product governance requirements
Source: ESMA
Source and Rothschild team up for ETF launch
October 4, 2016--Source and Rothschild have teamed up to launch a low volatility US exchanged traded fund (ETF).
Source RBIS Equal Risk Equity US Ucits ETF has been launched through Rothschild & Co Group Risk-Based Investment Solutions.
The fund targets a broad US equity exposure with lower volatility, tracking 25o US stocks with the lowest risk based on their volatility.
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Source: citywire.co.uk
Eurex monthly report
October 4, 2016--Investment behaviour of the buy side shapes the product offering of exchanges
Eurex MSCI segment reaches 1 million contracts of open interest
The investment behaviour of the buy side is undergoing structural changes. Passive products like Exchange Traded Funds (ETF) are gaining momentum.
This changes the investment behaviour on the derivatives markets and increasingly shapes the product offering of exchanges.
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Source: Eurex
Turnover at Deutsche Borse's cash markets at 109.1 billion euros in September
September 4, 2016--Order book turnover on Xetra, Börse Frankfurt and Tradegate Exchange across all asset classes stood at €109.1 billion in September (September 2015: €142.3 billion).
Of the €109.1 billion, €100.8 billion were attributable to Xetra (September 2015: €133.9 billion). The average daily turnover on Xetra stood at €4.6 billion in September (September 2015: €6.1 billion).
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Source: Deutsche Börse
ESMA reports on shadow banking, leverage and pro-cyclicality
October 4, 2016--The European Securities and Markets Authority (ESMA) has issued today a report on securities financing transactions (SFTs), leverage and pro-cyclicality in the EU's financial markets
ESMA's report assesses whether the use of SFTs leads to the build-up of leverage which is not yet addressed by existing regulation, how to tackle such build-up, and whether there is a need to take further measures to reduce its pro-cyclicality.
view the ESMA Report on securities financing transactions and leverage in the EU
Source: ESMA
ESMA issues Q&As on the implementation of the double volume cap under MiFID II
October 3, 2016--The European Securities and Markets Authority (ESMA) has issued today a Question and Answers (Q&A) document regarding the implementation of the double volume cap under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).
MiFID II introduces a so-called "double" volume cap mechanism which limits the use of reference price waivers and negotiated price waivers under the new transparency regime of MIFID II.
view the Questions and Answers On MiFID II and MiFIR transparency topics
Source: ESMA
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