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Northern Trust Monthly Funds Market Review: Irish Funds Industry Association rebrands
ECB hails T2S launch| Luxembourg fund industry ambition
July 7, 2015--ASIA HIGHLIGHTS
Asia is rising fast to the top of the global wealth list, overtaking Europe in 2014 to nab the number two spot and looking set to replace North America as the world's wealthiest region next year, according to a new report by the Boston Consulting
Group.
EXCHANGE TRADED FUNDS
Assets invested in ETFs/ETPs listed globally broke through the US$3tn milestone at the end of May to reach a new record of US$3.015tn in assets under management (AUM), according to ETFGI's preliminary monthly ETF and ETP global insight report
for May 2015.
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Source: Northern Trust
Solactive launches Home Automation Index
July 7, 2015--Frankfurt-based index provider Solactive AG has launched the Solactive Home Automation Index, designed to track the price movements of stocks representative of the global home automation market.
The Index has been licensed to be used as underlying for a BNP Paribas Open End Certificate listed in Frankfurt, where it is denominated in euro and in Zurich, where it is denominated in Swiss francs and US dollar.
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Source: Investment Europe
EBA issues advice on securitisation
July 7, 2015--Following the public hearing held on June 26, the EBA published the full text of its advice to the European Commission on a framework for qualifying securitisation.
The EBA advice had been disclosed last week during the public hearing, so that concerned stakeholders could receive advance information on the EBA's proposed criteria for defining simple standard and transparent securitisation transactions.
view the EBA-Opinion of the European Banking Authority on a European framework for qualifying securitization
Source: EBA
JPMorgan appears closer to launching ETFs in Europe
July 6, 2015--Analysts say US bank JPMorgan has taken "another step" towards rolling out its first exchange traded funds in Europe with the recent development of its indices offering.
Last month Lyxor announced the launch of an ETF range based on equity risk-factor benchmarks developed by JPMorgan's quantitative and derivatives strategy team.
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Source: FT.com
ESMA agrees to renewal of short-selling ban by Greek HCMC
July 6, 2015--The European Securities and Markets Authority (ESMA) has issued its official opinion agreeing to a renewal, for a period of seven days, of the emergency short selling prohibition originally imposed by the Hellenic Capital Market Commission (HMCM) under the Short Selling Regulation on Monday 29 June.
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Source: ESMA
EU's Moscovici sees financial transaction tax in place early 2017
July 6, 2015--Negotiations over a planned tax on financial transactions in 11 European countries could wrap up later this year and the levy could be in place by early 2017, EU Economic Affairs Commissioner Pierre Moscovici said on Wednesday.
France and Germany proposed the tax in 2012, but talks among the 11 countries that have agreed to levy it have stalled over what financial instruments should be covered and at what rate.
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Source: Reuters
UPDATE 1-European bank shares dip after Greeks reject bailout terms
July 6, 2015--European bank shares fell almost 2 percent on Monday after Greeks overwhelmingly rejected conditions of a rescue package from creditors, throwing the future of its banks and its euro zone membership into doubt.
Greece's banks could run out of cash within days and the European Central Bank's (ECB) decision about whether to extend emergency liquidity will be crucial. The ECB is due to meet on Monday.
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Source: Reuters
Boutiques face existential threat as time runs out on MiFID II
July 6, 2015--Smaller fund firms have been left in limbo as delays in finalising dealing commission regulations leave them unsure of the future of their businesses.
Last Friday (3 July) marked one year until MiFID II regulations are transposed into law, but uncertainty continues to surround proposals to separate charges for trading shares from the cost of broker research.
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Source: Investmentweek.com
Bank of China lists first Euro-denominated bond on London Stock Exchange
July 6, 2015--€500 million bond issued by Bank of China in London
First Euro-denominated bond listed in London by Bank of China
Part of wider 'One Belt, One Road' bond issuance programme
London seen as venue of choice for Chinese issuers accessing Europe
London Stock Exchange today saw the first Euro-denominated bond by a Chinese issuer admitted to trading on its markets.
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Source: London Stock Exchange Group
Solactive Index to capture Cubas Opening up-Underlying for Leonteq Certificate designed for Swiss and German market
July 6, 2015--Solactive AG has launched the Solactive Cuba Focused Caribbean Index, designed to follow North and South American companies likely to gain from the recent opening up of Cuba to the US.
The Index has been licensed to Leonteq for tracker certificates listed both in Zurich (in CHF, USD and EUR) and Frankfurt (in EUR).
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Source: Solactive