European Commission-Fact Sheet-Revamping the prospectus, the gateway to European capital markets
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.
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Source: European Commission
Deutsche Börse to encourage hidden trades
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.
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Source: FT.com
Russia Business Sentiment Plummets to Record Low-Orders Slide as Seasonal Demand Fails to Materialise
November 27, 2015--The MNI Russia Business Sentiment Indicator tumbled 23.2% to 37.1 in November from 48.3 in October, the
lowest since the survey began in March 2013.
Demand and output collapsed in November with New Orders falling to a record low and Production down to the lowest since February, in spite of the approaching
festival season.
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Source: MNI Indicators
Four new ComStage ETFs launched on Xetra
ETFs track the indices DAX, MDAX, DivDAX and EURO STOXX 50
November 27, 2015--Four new equity index funds issued by Commerz Funds Solutions S.A., a Commerzbank Group fund management company, have been tradable on Xetra and Börse Frankfurt since Friday.
The ComStage 1 DAX UCITS ETF enables investors to participate in the performance of the DAX index, which includes the 30 largest and most frequently traded German companies listed in the Prime Standard of the Frankfurt Stock Exchange. The DAX index represents about 80 percent of the aggregated Prime Standard's market cap.
ETF name: ComStage 1 DAX UCITS ETF
Asset class: equity index ETF
Source: Deutsche BBörse Cash Market
STOXX licenses iSTOXX Europe ESG Select 30 to JP Morgan
November 26, 2015--STOXX Limited,, a leading provider of innovative, tradable and global index concepts, today licensed the iSTOXX Europe ESG Select 30 Index to JP Morgan for a structured product.
The index screens European companies from the STOXX Global ESG Leaders Index for those that pay high dividends and also have low volatility, thus creating a hybrid portfolio of ESG, high dividend and low volatility strategies.
The index is designed to act as an underlying for exchange-traded funds and other investable products, such as structured products.
"Research shows the existence of a so-called low volatility anomaly where low volatility stocks have historically produced higher risk-adjusted returns compare to higher volatility stocks globally," said Hartmut Graf, chief executive officer, STOXX Limited.
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Source: STOXX
Annual Growth Survey 2016: Strengthening the recovery and fostering convergence
November 26, 2015--Annual Growth Survey starts the 2016 European Semester
Today's package launches the annual cycle of economic governance. It sets out general economic and social priorities for the EU and gives Member States policy guidance for the following year.
Policy challenges vary across countries, so responses will also vary. However, there are overarching themes that affect the EU as a whole. To strengthen the recovery and foster convergence, the Commission recommends building on the three main pillars identified last year for the EU's economic and social policy: re-launching investment, pursuing structural reforms and responsible fiscal policies.
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Source: European Commission
The EU's economic governance explained
November 26, 2015--An explanation of the EU's economic governance
The economic and financial crisis revealed weaknesses in the EU's economic governance. The EU responded by taking a wide range of measures to strengthen its governance and to facilitate a return to sustainable economic growth, job creation, financial stability and sound public finances.
Central pillars of these efforts are: the legislative packages to strengthen the Stability and Growth Pact known as the "Six Pack" and "Two Pack", and the Intergovernmental Agreement (IGA) known as the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union. All EU Member States except the UK, the Czech Republic and Croatia have now signed this Treaty. The "Six Pack" strengthened the Stability and Growth Pact and also introduced a new macroeconomic surveillance tool: the Macroeconomic Imbalance Procedure.
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Source: European Commission
Financial benchmarks: Commission welcomes agreement on new rules to prevent manipulation
November 25, 2015--The European Commission welcomes last night's agreement between the European Parliament and the Council of the EU on a Regulation of financial benchmarks.
The new rules were first proposed by the Commission in September 2013 in the wake of the alleged manipulation of various benchmarks which were to the clear detriment of consumers and companies throughout the EU. Following last night's preliminary political agreement, the EU is setting a leading standard globally.
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Source: European Commission
EU Transaction Tax Falters as Austria-Imposed Deadline Nears
November 25, 2015--Participating nations haven't decided what trades to tax
Open questions include how to treat pensions, document says
A proposed European financial-transactions tax is foundering as 11 participating nations try to meet a December deadline to decide how to charge levies on an array of financial products.
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Source: Bloomberg
ISE reduces clearing fees in the Irish market by 50%
November 24, 2015--The ISE has announced a 50% reduction in clearing fees for order book trades in Irish equities and ETFs, effective 3 December 2014.
The reduced fee level will benefit trading member firms and investors by significantly decreasing clearing costs for executions on the ISE Xetra order book said Brian Healy, Director, Traded Markets, Development, Operations.
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