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Concerns Rise Over Asset Safety

October 3, 2016--SIX Securities Services, which operates Switzerland's financial market infrastructure, published research last week which found that two-thirds of financial institutions are concerned that agent banks have both custody and investment business lines.

"An inability to separate these two business activities introduce a potentially high level of risk with regard to asset safety," added SIX.

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Source: marketsmedia.com

Chart: The Aftermath of the Brexit Vote

September 30, 2016--It's been 3 months, and no signs of doom or gloom.
The Chart of the Week is a weekly Visual Capitalist feature on Fridays.

For the first half of the year, we were warned early and often by authorities that the Brexit vote could be a calamity for the ages.

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Source: visualcapitalist.com

EU opens probe into LSE-Deutsche Boerse merger

September 29, 2016--The European Commission is to investigate whether the proposed merger between the London Stock Exchange and Deutsche Boerse would reduce competition in several financial market infrastructure areas.

By combining the exchanges of Germany, the United Kingdom and Italy, as well as several of the largest European clearing houses, the LSE and DB merger would create by far the largest European exchange operator.

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Source: eubusiness.com

ESMA consults on future rules for financial benchmarks

September 29, 2016--The European Securities and Markets Authority (ESMA) has today published a consultation paper regarding its draft regulatory and implementing technical standards (RTS/ITS) which will implement the Benchmarks Regulation (BR).

ESMA is asking stakeholders to comment on its proposed RTS/ITS applicable to benchmark contributors, administrators and national competent authorities.

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view the Draft technical standards under the Benchmarks Regulation

Source: ESMA

iShares Core FTSE 100 UCITS ETF launched on Xetra

September 29, 2016--ETF provides access to the 100 largest UK companies
A new iShares equity index ETF from BlackRock's product offering has been tradable on Xetra and Börse Frankfurt since Thursday.
Name: iShares Core FTSE 100 UCITS ETF (Dist)
Asset class: equity index ETF

ISIN: IE0005042456
Total expense ratio: 0.07 percent
Distribution policy: distributing
Benchmark: FTSE 100 Index

The iShares Core FTSE 100 UCITS ETF (Dist) gives investors access to the performance of the 100 largest UK companies listed on the London Stock Exchange.

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Source: Deutsche Börse Cash Market

Outflows from European equity funds approach $100bn

September 29, 2016--Continent suffers 34th consecutive week of redemptions as anxiety over banking system grows

Redemptions from European equity funds have approached $100bn as investors race out of an asset class rattled by the uncertain health of the continent's financial sector.

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Source: FT.com

A growing interest from investors in Smart Beta ETFs with more requirements and challenges to address

September 29, 2016--In a survey of investment professionals conducted as part of the Amundi ETF, Indexing & Smart Beta research chair at EDHEC-Risk Institute on "ETF and Passive Investment Strategies", EDHEC-Risk Institute has solicited the specific views of 180 European ETF investors on "smart beta" exchange-traded funds (ETFs).

This questionnaire has given rise to a study entitled "Investor Perceptions about Smart Beta ETFs".

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view the EDHEC-Risk Publication Investor Perceptions about Smart Beta ETFs

Source: EDHEC-Risk Institute

ECB-Monetary developments in the euro area: August 2016

September 27, 2016--The annual growth rate of the broad monetary aggregate M3 increased to 5.1% in August 2016, from 4.9% in July (revised from 4.8%).

The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight deposits, increased to 8.9% in August, from 8.4% in July.

The annual growth rate of adjusted loans to households stood at 1.8% in August, unchanged from the previous month.

The annual growth rate of adjusted loans to non-financial corporations stood at 1.9% in August, unchanged from the previous month.

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Source: ECB

First ETF lists on Bulgarian Stock Exchange

September 27, 2016--The first Bulgarian Exchange Traded Fund was listed on BSE. Expat Bulgaria SOFIX UCIT ETF was created by the local fund manager Expat Asset Management.

The ETF was admitted to trading on the Exchange Traded Products Segment of the Main Market under the symbol BGX and it will invest in companies underlying the leading SOFIX Index of BSE-Sofia as well as in deposits and government securities.

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Source: Bulgarian Stock Exchange

Lyxor-Weekly Recap: More of the Same

September 26, 2016--There was no surprise after the Fed and BOJ meetings of last week. In the US, the Fed was positive on the strength of the economy and is willing to normalize before year end. The most probable scenario is that of a December hike.

In Japan, the only news coming from the BoJ is that it will starts a yield curve control, targeting its action to a 0% yield on the 10 year bonds.