Banks must start clearing interest rate swaps in EU from June
December 2, 2015--Banks must clear derivative trades known as off-interest rate swaps in the European Union from June next year, marking the first so-called "clearing obligation" to come into force in the EU.
The clearing process aims to increase transparency in interest rate swaps, which account for the largest part of the world's $552 trillion derivatives market.
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Source: Reuters
AFME calls for better functioning equity markets in Europe
December 2, 2015--AFME today issues a report highlighting the need for Europe to make greater use of its equity markets.
"Why equity markets matter" finds that European equity markets remain under-developed, weakening the region's economic potential, and urges policymakers to remove unintended liquidity restrictions in current regulatory proposals to foster a European equity culture.
view the Why equity markets matter-The heart of Europe's economy Five new iShares ETFs launched on Xetra view more European Investor Research 2015 report view the European Investor Research 2015-The Emergence of a New Era in Index Investing Financial Stability Paper No. 35: Measuring the macroeconomic costs and benefits of higher UK bank capital requirements view more Turnover at Deutsche Borse's cash markets at 116.5 billion euros in November view more ESMA publishes Final Report on Guidelines on complex debt instruments and structured deposits in MiFID II view the ESMA-Final Report
Guidelines on complex debt instruments and structured deposits Macquarie Research-Europe Insight Impact view more European Commission-Fact Sheet-Revamping the prospectus, the gateway to European capital markets view more Deutsche Börse to encourage hidden trades view more If you are looking for a particuliar article and can not find it, please feel free to contact us
Source: AFME
ETFs offer access to individual sectors of "S&P's Sector" index family
December 2, 2015--Five new iShares ETFs from BlackRock have been tradable via Xetra and Börse Frankfurt since Wednesday, 2 December 2015.
The new iShares ETFs track the performance of US companies in the "S&P 500 Sector" index family and give investors access to the consumer discretionary, energy, financials, healthcare, and IT sectors.
Source: Deutsche Börse Cash Market
December 1, 2015--Invesco PowerShares' annual investor research report 2015:
"The Emergence of a New Era in Index Investing", conducted by independent company CoreData amongst users and non-users of Smart Beta, looks specifically at the drivers, challenges and implementation of Smart Beta and the potential for future adoption.
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Source: Invesco PowerShares
Martin Brooke, Oliver Bush, Robert Edwards, Jas Ellis, Bill Francis, Rashmi Harimohan, Katharine Neiss and Caspar Siegert
December 1, 2015--The baseline bank capital requirements in the United Kingdom are being set to comply with agreed international standards established in Basel III (as implemented in Europe through CRD IV).
The minimum Tier 1 requirement to be met at all times is 6% of risk-weighted assets, comprised of at least 4.5% Common Equity Tier 1 and at most 1.5% Additional Tier 1 capital. Internationally-agreed buffers, on top of this minimum, can be used to absorb losses under stress.
Source: Bank of England
December 1, 2015--Order book turnover on Xetra, Börse Frankfurt and Tradegate Exchange across all asset classes stood at €116.5 billion in November (November 2014: €103.9 billion).
Of the €116.5 billion, €106.7 billion were attributable to Xetra (November 2014: €96.1 billion). The average daily turnover on Xetra stood at €5.1 billion in November (November 2014: €4.8 billion). A turnover of €4.1 billion was attributable to Börse Frankfurt (November 2014: €3.9 billion). Order book turnover on Tradegate Exchange* totalled approximately €5.8 billion in November (November 2014: €3.9 billion).
Source: Deutsche Börse Cash Market
November 30, 2015--The European Securities and Markets Authority has published today the Final Report on guidelines on complex debt instruments and structured deposits.
These guidelines are intended to enhance investor protection by identifying complex financial instruments and structured deposits for which the provision of so-called execution-only services is not possible (ie the firm has to ask information on client's knowledge and competence in order to carry out an appropriateness test).
Source: ESMA
Elevated ECB easing expectations risk Draghi disappointment, but focus
on policy for what really matters
November 30, 2015--Event
The European Central Bank (ECB) meets this week on Thursday 3
December. Concern about sub-target inflation, weak inflation expectations,
and a still-modest recovery mean it is highly likely to ease monetary policy,
most likely via extending its asset-purchase programme (QE) and reducing
key interest rates, including its negative deposit rate.
The short-term market impact is unclear. The problem is market expectations ahead of the meeting about the extent of the policy easing have become elevated despite clear signs of an improvement in the Eurozone economic
data since the ECB's last gathering. Investors have expressed this optimism
about the likely policy measures by pushing down short-term yields and the
euro.
Source: Macquarie Capital (Europe) Limited
November 30, 2015--1. What is a prospectus?
Companies wishing to finance themselves on capital markets issue securities (such as shares, bonds, etc.) which investors can buy. Potential investors can find necessary information about the security and its issuer in the publicly available prospectus.
It must contain the necessary information for investors to make an informed investment decision. The prospectus is therefore a key element to generate confidence in securities markets.
Source: European Commission
November 29, 2015--Deutsche Börse is to follow in the footsteps of the London Stock Exchange Group by encouraging investors to trade large blocks of shares hidden from public view without breaching new rules on controversial "dark pools".
The operator of Germany's largest stock exchange on Monday will launch an amended form of share "placements" on its public market-a type of order that may only been seen by people involved in similar ​deals.
Source: FT.com