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ESAs consult on margin requirements for non-centrally cleared derivatives
June 10, 2015--The European Supervisory Authorities (ESAs) launched today a second consultation on draft Regulatory Technical Standards (RTS) outlining the framework of the European Market Infrastructure Regulation (EMIR).
This second consultation document is the result of an intense engagement with other authorities and the industry stakeholders in order to identify all the operation issues that may arise from the implementation of such framework. Therefore, the consultation focuses only on a narrow set of topics as most of the decisions have already been agreed following the first consultation held in April 2014. The consultation runs until 10 July 2015.
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Source: ESMA
EU business confidence in China at new low: survey
June 10, 2015-European companies are losing confidence in China's economy, a lobby group survey said on Wednesday' with many firms planning to lay off staff as Beijing struggles to boost growth and embarks in an anti-monopoly drive.
From car makers to wine growers to tech firms, Europeans have for years looked to China to bolster sales as growth prospects back home have flagged.
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Source: EUbusiness
World Bank: European Union's and Croatia's Recovery Is Strengthening, albeit Slowly and with Significant Risks
To make the recovery sustainable, Europe needs to continue reforms to promote exports and investment, create jobs, and protect the vulnerable
June 10, 2015--Economic growth is expected to continue to pick up across the European Union (EU), from zero in 2013 and 1.3 percent in 2014, to 1.8 percent and 2.0 percent in 2015 and 2016 respectively.
Most Central and eastern European countries (EU-CEE) will continue to grow above the European average, with growth expanding over 2.4 percent in 2015, based on robust consumer demand, the gradual return of investment, and continued export growth, says the new World Bank EU Regular Economic Report presented today in Zagreb.
view the EU Regular Economic Report-MODEST RECOVERY, GLOBAL RISKS
Source: World Bank
Borsa Italiana: ETF Stat: May 2015
June 10, 2015--New Listing
18 new instruments were listed on ETFplus market
At the end of May there were listed 975 instruments (684 ETFs, 254 ETCs/ETNs and 37 open-end CIUs)
AUM
At the end of May, the Asset Under Management (AUM) deposited in Italy set a new historical record reaching €46.42bn (42.99bn for ETFs and 3.43bn for ETCs/ETNs) with a grow of 51.84% compared to May 2014
Inflows
During May 2015, in Italy ETFs amassed +€ 432m of inflows
Trading
389,357 trades registered during May 2015 with a grow of 72.73% vs 2014
view the Borsa Italiana Market Statistics
Source: Borsa Italiana
Van Eck Global brings Gold Mining ETFs to Switzerland
June 10, 2015--June 10, 2015--Van Eck Global Investments Ltd., the Irish Management Company of the Market Vectors UCITS ETFs, today announced the cross-listing of its two gold mining exchange-traded funds (ETFs) on the SIX Swiss Exchange.
The funds are denominated in US Dollar and will be traded in Swiss Franc (CHF).
The Market Vectors Gold Miners UCITS ETF (SIX: GDX) and the Market Vectors Junior Gold Miners UCITS ETF (SIX: GDXJ) started trading in Europe on the London Stock Exchange in April 2015 followed by listings on Deutsche Börse XETRA in May and BATS CHI-X Europe at the beginning of June.
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Source: Van Eck
LSE June 2015 ETF & ETP Monthly Report
June 10, 2015--News
Two new order types (Cross Orders and Block Trade Facility) went live on 11 May.
Swiss Franc (CHF) was introduced as a trading currency for ETFs on 18 May within Trading Service for ETFs Euroclear Bank Settlement.
Listings
8 new ETFs and 10 other ETPs (ETCs and ETNs) were listed on London Stock Exchange in May 2015
There are now 800 ETFs (available as 1,223 lines through multi-currency offerings) and 375 ETCs/ETNs (available as 426 lines) on our London market
Trading activity
Total on-exchange value traded for ETFs in May 2015 was £17.3 billion (233k trades), up by 57% compared to last year
Total on-exchange value traded for other ETPs (ETCs and ETNs) in May 2015 was £1.5 billion (36k trades), up by 49% compared to last year
Market coverage
22 registered market makers provide continuous pricing and a high quality pool of liquidity on our order-book
Over 150 member firms are connected to the London Stock Exchange''s order book and have access to trade ETFs and ETPs
Events
ETF Strategy and London Stock Exchange are hosting the second annual ETF Portfolios Summit, at London Stock Exchange's Paternoster Square
headquarters on Thursday 18 June 2015. Key themes will include: currency hedging; fundamental fixed income; smart beta and factor investing; portfolio construction and management; investment strategies and model portfolios; hybrid securities, and economic and market outlook. For more information please visit www.etfportfoliossummit.co.uk
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Source: London Stock Exchange Group
Bank Breakup Bill Set for Crunch Talks Among EU Nations
June 9, 2015--European Union nations are pushing to reach agreement by the end of the month on a bill intended to tackle too-big-to-fail banks.
Envoys from the bloc's 28 national governments will hold crunch negotiations in Brussels on June 17, with the aim of sending the legislation to finance ministers for approval in Luxembourg two days later, two people with knowledge of the matter said, asking not to be identified because the talks aren't public.
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Source: Bloomberg
CP15/18: Fair, reasonable and non-discriminatory access to regulated benchmarks
June 9, 2015--In an previous Consultation Paper published in December last year, CP14/32 Bringing additional benchmarks into the regulatory and supervisory regime, the UK's Financial Conduct Authority (FCA) received responses raising concerns about the unconstrained ability of benchmark administrators to set the costs of benchmarks to users.
In its response detailed in Policy Statement 15/6: Bringing additional benchmarks into the regulatory and supervisory regime, the FCA stated that it would consider whether additions to the rules in Chapter 8 of the Market Conduct Sourcebook (MAR 8) were necessary.
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Source: rimes.com
MNI Russia Consumer Sentiment Falls to 72.8 in May
Improvement in Outlook for Finances, Inflation and Jobs
June 9, 2015--The MNI Russia Consumer Sentiment Indicator
remained broadly stable at 72.8 in May compared with 73.0 in April.
Though consumer sentiment was
down 17.7% on the year, our survey provides a tentative sign that we have reached a trough in confidence as some measures in our survey appear to have stabilised following January's sharp setback.
In particular, consumers are less pessimistic about their current financial situation than they were at the start of the year, while their expectations for business conditions in five years' time have recovered the ground lost from January's drop.
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Source: MNI
Finansinspektionen-Resilience Continues To Be Sound But Measures Required Resilience continues to be sound but measures required
June 9, 2015--The Swedish financial system is functioning well and the banks' resilience to disruptions is satisfactory. At the same time, measures are required to reduce the risks linked to household indebtedness.
These are two of the conclusions drawn in FI's Stability Report, which is being presented today.
Resilience in the Swedish financial system is satisfactory. The banks have sufficient capital and good access to low-cost funding, which means that they have the capacity to provide both companies and households with loans.
view the summary report-Stability in the financial system
Source: Finansinspektionen