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ECB-Monetary developments in the euro area: June 2016
July 27, 2106--The annual growth rate of the broad monetary aggregate M3 stood at 5.0% in June 2016, after 4.9% in May 2016.
The annual growth rate of the narrower aggregate M1, which includes currency in circulation and
overnight deposits, decreased to 8.6% in June, from 9.1% in May.
The annual growth rate of loans to households stood at 1.7% in June, compared with 1.6% in May.
The annual growth rate of loans to non-financial corporations stood at 1.7% in June, compared with 1.6%
in May (revised from 1.4%)1.
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Source: ECB
Deutsche Borse AG with significant profit growth in Q2 2016
July 27, 2016--Consolidated net revenue rise 10 per cent
Lower costs before non-recurring and consolidation effects
Adjusted net profit up 21 per cent to around €219 million
Profit forecast for 2016 affirmed-Extraordinary cash inflow of approximately €1.0 billion due to the sale of ISE
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Source: Deutsche Börse AG
STOXX Pulse Online-BREXIT: Uncertain Times Ahead For Funds Market
July 27, 2016--Despite the fact that Brexit will presumably not take effect until early 2019 or later, the impact of the UK's vote to leave the European Union has begun to sink in and has triggered a debate also in the funds market.
Much will depend on the exact terms negotiated for Brexit, yet the impact on the UK fund managers has the potential to be significant. So far it is not clear if the UK, like Norway, will be member of the European Economic Area (EEA), will have a trade arrangement with the EU similar to Switzerland or will have a different arrangement altogether.
Impact on UK fund managers
For now and at least for the two-year exit negotiation period, passporting as established by the AIFM-Directive for UK-AIFMs and AIFs will continue as usual. In case the EEA option will be realized, the UK fund managers would still be able to benefit from the current passporting regime.
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Source: STOXX
ESMA updates its EMIR Q&A
July 27, 2016--The European Securities and Markets Authority (ESMA) has issued today an update of its Q&A on practical questions regarding the European Markets Infrastructure Regulation (EMIR).
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Source: ESMA
Reporting complexity forcing buy-side to outsource data services
July 26, 2016--Buy-side outsourcing trend expected to continue, as firms seek to manage complexity of data and reporting requirements.
Reporting requirements under regulations like MiFID II are driving the buy-side to outsource data functions to manage the complexity of complying with the rules.
The explosion of data handled by asset managers for reporting to regulators, stakeholders and clients, is so complex that buy-side institutions are increasingly seeking to outsource data operations.
BNP Paribas Securities Services' recent whitepaper..
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Source: thetradenews.com
Preliminary acceptance level of the exchange offer made by HLDCO123 plc to the shareholders of Deutsche Borse AG exceeds the minimum acceptance threshold
July 26, 2016--Based on the declarations of acceptance received and booked so far by the custodian banks for the exchange offer by HLDCO123 PLC, London, United Kingdom to the shareholders of Deutsche Börse AG in connection with the planned combination of Deutsche Börse AG with the London Stock Exchange Group plc, the minimum acceptance threshold of 60% of the Deutsche Börse shares (less treasury shares) has been exceeded (completion condition pursuant to section 14.1 A.1 of the offer document published on 1 June 2016).
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Source: Deutsche Börse AG
Deutsche Boerse and GSX list Bitcoin instrument
July 25, 2016--Traders are now able to gain exposure to digital currency Bitcoin through an exchange traded product that has listed on the Gibraltar Stock Exchange and Deutsche Boerse.
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Source: thetradenews.com/
Monday Morning Memo: Review of the European ETF Market, June 2016
July 25, 2016--Opposite to the overall fund industry in Europe and despite the increased volatility prior to the "Brexit" voting in the United Kingdom, the promoters of exchange-traded funds (ETFs) enjoyed net inflows for June.
Nevertheless, the assets under management in the European ETF industry declined during June compared to May (€455.5 bn) to €453.6 bn
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Source: Lipper
ESMA issues warning on sale of speculative products to retail investors
July 25, 2016--The European Securities and Markets Authority (ESMA) has today issued a warning about the sale of contracts for differences (CFDs), binary options and other speculative products to retail investors who are unaware of the risks associated with these products, and also highlights the regulatory action taken in relation to several Cyprus-based investment firms.
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Source: ESMA
ESMA publishes updated Q&A on CFDs and other speculative products
July 25, 2016--The European Securities and Markets Authority (ESMA) has published today an updated version of its question and answer document (Q&A) on the application of the Markets in Financial Instruments Directive (MiFID) to the marketing and sale of financial contracts for difference (CFDs) and other speculative products to retail clients (such as binary options and rolling spot forex).
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Source: ESMA
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