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ESMA will not exempt the collateralisation of bank guarantees for energy derivatives under EMIR
November 19, 2015--The European Securities and Markets Authority (ESMA) has decided not to further extend the existing grace period of three years for the non-financial firms' use of non-collateralised bank guarantees to cover transactions in energy derivatives cleared by European central counterpar-ties (CCPs).
ESMA therefore reminds firms concerned that from 15 March 2016 CCPs author-ised under the European Market Infrastructure Regulation (EMIR) will need to fully collateralise commercial bank guarantees used to cover transactions in derivatives relating to electricity or natural gas produced.
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Source: ESMA
Official Statistics: Forecasts for the UK economy: November 2015
November 18, 2015--Forecasts for the UK economy is a monthly comparison of independent forecasts.
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Source: HM Treasury
FCA to scrutinise competition in £6.8 trillion asset management industry
The City watchdog wants to make sure investors aren't being ripped off through high costs and conflicts of interest
November 18, 2015--The UK financial watchdog has said it "may intervene" in the asset management industry if a new report finds there is not enough competition in the sector
The Financial Conduct Authority said it could take action "through rule-making, introducing firm specific remedies or enforcement action, publishing general guidance or proposing enhanced industry self-regulation" if it finds that a lack of competition means investors aren't getting value for money on the services they purchase from asset management firms in the UK.
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Source: The Telegraph
First Indian fixed income ETF launched in LSE
November 18, 2015--Sun Global Investments and ZyFin Holdings have announced plans to list the world's first Indian fixed income ETF, theLAM Sun Global ZyFin India Sovereign Enterprise Bond UCITS ETF, on the London Stock Exchange.
The announcement comes after Indian Prime Minister Narendra Modi's visit to London, UK to further strengthen financial ties between the United Kingdom and India.
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Source: The Economic Times
Exchanges and interdealer brokers reshape
November 17, 2015--In recent weeks the sector has experienced a wave of asset swaps and consolidation.
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Source: FT.com
China Europe International Exchange launched in Frankfurt
November 17, 2015--A Sino-German joint venture named China Europe International Exchange (CEINEX) was launched here on Wednesday, kicking off the trading of Renminbi-denominated exchange traded funds (ETFs).
The executive board members of CEINEX, Chen Han and Wu Jianhong,,rang the bell at the trading floor of the Frankfurt Stock Exchange and opened the new market place for RMB-denominated ETFs and bonds.
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Source: xinhuanet.com
Amundi MSCI Europe Buyback UCITS ETF Launched on Xetra
Focus on European companies with stock buyback programmes
November 17, 2015--A new equity index exchange-traded fund (ETF), issued by Amundi, is open for trading on Xetra and the Börse Frankfurt venue.
Name: Amundi MSCI Europe Buyback UCITS ETF
Asset class: equity index ETF
ISIN: FR0012805687
Total expense ratio: 0.3 percent
Distribution policy: distributing
Benchmark: MSCI Europe Equal Weighted Buyback Yield Index
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Source: Deutsche Börse Cash Market
World's first Indian fixed income ETF launched on Xetra
November 17, 2015--Deutsche Börse welcomes ZyFin as new ETF issuer
November 17, 2015--The world's first Indian fixed income ETF has been listed on Xetra and the Börse Frankfurt venue on Tuesday.
The LAM Sun Global ZyFin India Sovereign Enterprise Bond ETF (ISIN IE00BYZ5HD97), jointly issued by ZyFin Holdings Pte. Limited and Sun Global Investments Limited, tracks the performance of the ZyFin India Sovereign Owned Enterprise Bond Index. It also is Europe's first physically replicating ETF to track the Indian bond market.
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Source: Deutsche Börse Cash Market
MiFID: ESMA makes available pan--EU data on suspensions and removals from trading
November 17, 2015--The European Securities and Markets Authority (ESMA) has launched today a new database which makes available information on suspensions and removals from trading including restoration details that national supervisory authorities have to notify under the Markets in Financial Instruments Directive (MiFID).
The system covers financial instruments admitted to trading in European regulated markets and displays a list of the current suspensions in these markets, but not suspensions linked to them (for example, suspension of derivatives that have a suspended share as underlying or suspensions agreed by other national competent authorities following the initial suspension decision). The system also allows searching for an instrument (already suspended in the past or currently suspended) to consult the key available details of its suspensions.
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Source: ESMA
Pressure mounts on fund managers to disclose hidden fees
November 16, 2015--New draft European rules are piling pressure on fund managers to come clean about hidden fees that can reduce dramatically the value of individuals' retirement pots.
After years of investor complaints, European authorities want a new investment..
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Source: FT.com