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ESMA updates EMIR Q&A
February 16, 2016--The European Securities and Markets Authority (ESMA) has today issued an update of its Question and Answers (Q&As) regarding the implementation of the European Market Infrastructure Regulation (EMIR).
The Q&A clarifies how the clearing obligation should apply to swaps resulting for the exercise of a swaption, including during the frontloading period and the approach on frontloading that was adopted in the ESMA’s first RTS on the clearing obligation, which entered into force on 21 December 2015.
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Source: ESMA
EU benchmark rules open to regulatory arbitrage, say rate-setters
February 16, 2016--Fears firms may seek to limit scope of publication if 'index' definition is too narrow
Market participants hoping for clarity on which indexes will be caught by the EU's sweeping reforms of benchmarks will have to wait a bit longer. Initial guidance issued by Europe's securities regulator on February 15 left a key condition in defining the scope of the regulation-that of an index's public availability-as yet undetermined.
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Source: Risk.net
Irish Stock Exchange and Deutsche Borse extend strategic technology partnership until 2021
February 15, 2016--The Irish Stock Exchange (ISE) has renewed its strategic technology partnership with Deutsche Börse and extended its use of the Deutsche Börse trading infrastructure and related services. The new contract runs for 6 years until the end of 2021.
Brian Healy, Director, Traded Markets, Development, Operations at the ISE, said: “The ISE is delighted to extend its successful collaboration with Deutsche Börse for the use of its Xetra system and related service.
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Source: Deutsche Börse
German regulator to investigate 'closet index funds'
February 15, 2016--Germany's markets regulator said on Monday it would investigate whether asset managers mislead investors by selling actively managed funds which then tracked a benchmark index too closely.
BaFin's decision to probe whether fund firms were marketing so-called 'closet index funds' comes shortly after Europe's financial markets regulator said up to a sixth of retail-focused equity funds could be guilty of the practise.
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Source: Rueters
New PowerShares ETF on Xetra combines dividend and low-volatility strategy
ETF tracks high-dividend euro zone companies with low volatility
February 15, 2016--A new index fund from the ETF offering of PowerShares Global Funds has been tradable on Xetra and Börse Frankfurt since Monday, 15 February.
ETF name: PowerShares EURO STOXX High Dividend Low Volatility UCITS ETF
Asset class: equity index ETF
ISIN: IE00BZ4BMM98
Total expense ratio: 0.3 percent
Distribution policy: distributing
Benchmark: EURO iSTOXX High Dividend Low Volatility 50 Index
The PowerShares EURO STOXX High Dividend Low Volatility UCITS ETF offers investors first-time access to the performance of euro zone stock companies with high dividends and low volatility.
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Source: Deutsche Börse Cash Market
Bank of England sets out stall for Islamic deposits in first for Western central bank
February 12, 2016--The Bank of England on Friday became the first major Western central bank to set out its stall for sharia-compliant deposit facilities as Britain seeks to pitch London as the preeminent global centre for Islamic finance.
Born in its modern form in the 1970s, Islamic finance- which obeys religious principles such as bans on interest payments-has rapidly expanded over the past decade and there are now more than $2 trillion in Islamic financial assets
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Source: Reuters
U.S. Bancorp Fund Services, LLC Affiliate Quintillion Limited Names Linda Gorman Chief Executive Officer
February 12, 2016--Quintillion Limited, the European-based affiliate of U.S. Bancorp Fund Services, LLC has named Linda Gorman chief executive officer.
Based in Dublin, Gorman brings more than 20 years of leadership experience to support the firm's global alternative investment services.
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Source: U.S. Bancorp Fund Services
Nasdaq: Leveraging Capital Markets Essential For Europe To Reach Its Full Potential
New report cites recommendations to deliver sustainable growth
February 11, 2016-- Nasdaq (Nasdaq: NDAQ) today published a white paper entitled "Capital Markets Union: The Road to Sustainable Growth in Europe."
The white paper addresses the European Commission's proposal and action plan for a Capital Markets Union, and highlights Nasdaq's view on what needs to be done in order to create financial stability and get Europe back to sustainable growth.
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Source: Nasdaq.com
Even chance of more ECB QE in March; deposit rate cut to minus 0.40 percent: Reuters poll
February 11, 2016--There is an even chance the European Central Bank increases the size of its 60 billion euro a month bond buying program next month, economists in a Reuters poll said, although another deposit rate cut is almost certain.
Expectations of further easing from the ECB picked up last month after President Mario Draghi signaled the Bank could add more stimulus at its March meeting thanks to fading prospects for inflation and growth as financial markets convulse.
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Source: Reuters
Euro Area Securities Issues Statistics: December 2015
February 10, 2016--The annual rate of change of the outstanding amount of debt securities issued by euro area residents was 0.0% in December 2015, compared with 0.1% in November.
For the outstanding amount of listed shares issued by euro area residents, the annual growth rate was 1.1% in December 2015, compared with 1.0% in November.
The long-term debt securities annual growth rate stands at 0.5% in December 2015, the same as in November 2015.
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Source: ECB
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