EBA updates on the status of its final Implementing Technical Standards on benchmarking portfolios
December 21, 2015--The European Banking Authority (EBA), following requests from stakeholders, published today an update on the application date of its final draft Implementing Technical Standards (ITS) on benchmarking portfolios.
The EBA had originally submitted its final draft ITS on benchmarking portfolios to the European Commission in March 2015, proposing 11 April of each year, starting in 2016, as the remittance date for the bulk of the data to be submitted by banks to competent authorities.
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Source: EBA
Source: High yield looks more compelling, while equities face risk of Fed policy error
December 21, 2015-Following three months of solid equity performance, and acknowledging the risk that the Fed could be making an error in tightening policy now, it may be time to reduce equity exposure in favour of other asset classes, including high yield credit and real estate. This is the view of the Multi-Asset Research team at Source, one of Europe's largest providers of Exchange Traded Funds.
Paul Jackson, Managing Director, Head of Multi-Asset Research at Source, said: "We still prefer equity-like assets, but are reducing the extent of their overall weighting in our asset allocation model. At the same time, we believe it is worth shifting some of the regional focus within the equity exposure, in particular reducing weight in the US, the UK and emerging markets. We are still most positive on Japanese and Eurozone equities, but would hedge the currency in the latter."
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Source: Source ETFs
London Stock Exchange Sees "Good Performance" In Eleven Months
December 17, 2015--London Stock Exchange Group PLC said Thursday it has seen a good performance across each of its businesses in the eleven months to end-November.
In the Information Services segment, the LSE cited good momentum in the integration of FTSE Russell and delivery of synergies, whilst in the Post Trade Services segment, the LCH.Clearnet business delivered a good performance, it said.
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Source: London South East
Stronger Recovery and Declining Poverty in EU, but Hurdles to Faster, Sustained Growth are High-World Bank
December 17, 2015--The economic recovery in the European Union (EU) is gaining strength, but the pace of growth continues to be modest, despite accommodative monetary policy and favorable financial conditions, and investment remains subdued, says the new World Bank EU Regular Economic Report, a semiannual publication that covers economic developments, prospects, and economic policies in the EU.
view the EU Regular Economic Report: Sustaining Recovery, Improving Living Standards
Source: World Bank
ETF Risk European Rankings 2015: Test of endurance
Holdings of ETFs have increased in past year but pace of growth has slowed
December 17, 2015--This year has broken records, yet again, for flows into European-listed exchange-traded funds (ETFs).
But the latest iteration of our European ETF survey shows early signs of investors approaching saturation point, while issuers complain a fragmented market-and a lack of options for retail investors in particular-is making it harder than it should be to invest in these products...
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Source: Risk.net
ESMA publishes Final Report on MiFID II Guidelines on assessment and knowledge of competence
December 17, 2015--The European Securities and Markets Authority (ESMA) has published today the Final Report on guidelines for the assessment of knowledge and competence.
These guidelines are intended to enhance investor protection by increasing the knowledge and competence of natural persons giving investment advice or providing information about financial instruments, investment services or ancillary services to clients on behalf of investment firms.
FCA-CP15/43: Markets in Financial Instruments Directive II Implementation-Consultation Paper I
December 16, 2015--We set out our implementation proposals, and seek views on the proposed changes to the FCA Handbook.
Why are we issuing this consultation paper?
MiFID II is currently due to apply from 3 January 2017 and by 3 July 2016, Member States must change their laws and regulations to give effect to the provisions of the MiFID II that are in a directive and not directly applicable
Discussion is currently taking place between the Commission, the European Parliament and Council of the European Union about whether the date of application of MiFID II should be delayed by a year. If there is a change to the legislated timetable, our implementation plans will take that into account.
view the MiFID II-Consultation Paper I
Source: fca.org.uk
Forecasts for the UK economy: December 2015
December 16, 2015--A comparison of independent forecasts for the UK economy in December 2015.
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Source: HM Treasury
ESMA sees continued high levels of risk in 2016 financial markets
December 16, 2015--The European Securities and Markets Authority (ESMA) has issued today its Risk Dashboard for the European securities markets covering the third quarter of 2015.
Overall, the report found that risk levels remained high compared to the last quarter--including elevated risks for investors, infrastructures and services, and the financial system at large. Market risks indicators continued to remain at "very high", following a continuous build-up in the..
view the ESMA Risk Dashboard No. 4
Source: ESMA
New db X-trackers bond index ETF tradable on Xetra
ETF provides access to euro zone government bonds
December 16, 2015--A new db x-trackers ETF from the Deutsche Asset & Wealth Management product family has been tradable on Xetra and Börse Frankfurt since Wednesday, 16 December.
Name: db x-trackers iBoxx Eurozone Sovereigns Quality Weighted UCITS ETF (DR)
Asset class: bond index ETF
ISIN: IE00BYTRMY76
Ongoing charges: 0.20%
Distribution policy: distributing
Reference index: Markit iBoxx EUR Eurozone Sovereigns Quality Weighted Index
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Source: Deutsche Börse Cash Market
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