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ESAs seek stakeholder input on automation in financial advice
December 4, 2015--The Joint Committee of the three European Supervisory Authorities (ESAs)-EBA, EIOPA and ESMA -has launched a Discussion Paper on automation in financial advice, aimed at assessing what, if any, action is required to harness the potential benefits of this innovation and mitigate its risks.
The ESAs have seen, with the increasing digitalisation of financial services, a growing number of financial institutions offering automated tools when providing advice or recommendations to consumers, often referred to as robo-advisors.
view the Joint Committee Discussion Paper on automation in financial advice
Source: ESMA
UK official holdings of international reserves: November 2015
December 3, 2015--This monthly release shows details of movements in the UK's official holdings of international reserves, or assets.
These consist of gold, foreign currency assets and International Monetary Fund assets.
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Source: HM Treasury
ECB extends QE programme to at least March 2017
December 3, 2015--The European Central Bank has today adjusted its asset purchase programme, known as quantitative easing.
The ECB extended the scheme's duration into 2017 and agreed to buy euro-denominated municipal and regional bonds, ECB President Mario Draghi said.
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Source: www.rte.ie
ECB did not see need to increase monthly QE spend because of other moves -Draghi
December 3, 2015--The European Central Bank did not add to its monthly asset purchase programme because extending the scheme and reinvesting proceeds were deemed sufficient, ECB President Mario Draghi said on Thursday.
He added that other moves were open later if needed and described the decision to reinvest principal repayments on bonds it has already bought to maintain liquidity as "very significant".
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Source: Reuters
Covestro AG and Ströer SE to be included in MDAX
Deutsche Börse reviews index composition/Changes to be effective as of 21 December
December 3, 2015--On Thursday, Deutsche Börse decided on changes to its selection indices, which will become effective on 21 December 2015.
The shares of Covestro AG and Ströer SE will be included to the MDAX index and will replace the shares of MAN SE and Kabel Deutschland Holding AG. The shares of MAN and Kabel Deutschland no longer fulfill the criteria to remain in the equity indices of Deutsche Börse AG, as both companies will be leaving the Prime Standard listing segment.
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Source: Deutsche Börse
Two new SPDR bond index ETFs launched on Xetra
ETFs provide access to U.S. corporate bonds and inflation-linked U.S. government bonds
December 3, 2015--Two new exchange-listed bond index funds issued by State Street Global Advisors have been tradable on Xetra and Börse Frankfurt since Thursday, 3 December.
Name: SPDR Barclays 10+ Year U.S. Corporate Bond UCITS ETF
Asset class: bond index ETF
ISIN: IE00BZ0G8860
Ongoing charges: 0.20 percent
Distribution policy: distributing
Benchmark: Barclays U.S. Long Corporate Index
The new SPDR Barclays 10+ Year U.S. Corporate Bond UCITS ETF gives investors access to investment grade fixed-income bonds issued by U.S. companies, denominated in U.S. dollars and with a residual maturity of more than ten years.
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Source: Deutsche Börse Cash Market
Boerse Stuttgart generates turnover of roughly EUR 6.8 billion in November
December 2, 2015--Increase in turnover in equities, securitised derivatives, debt instruments (bonds) and investment funds
According to its order book statistics, Boerse Stuttgart generated turnover of around EUR 6.8 billion in November 2015.
In a dynamic market environment, the trading volume rose by more than 5 percent in comparison with October and by around 6 percent compared with November 2014.
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Source: Boerse Stuttgart
Weak eurozone inflation sets stage for ECB stimulus
December 2, 2015--Eurozone inflation came in lower than expected in November,
official data showed on Wednesday, giving further encouragement to the European Central Bank to pump up its stimulus to boost the economy.
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Source EUbusiness
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.
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Source: AFME
