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ESMA informs European Commission of delay in submitting the RTS on indirect clearing under MiFIR
October 5, 2015--The European Securities and Markets Authority (ESMA) has notified the European Commission to inform it that it has not submitted its draft MiFIR RTS on exchange-traded derivatives in order to ensure consistency with the EMIR RTS on the indirect clearing of OTC derivatives.
ESMA believes that in order to ensure the orderly functioning of markets amendments need to be made to the EMIR RTS and will launch a consultation shortly on these changes. It will then submit both sets of draft RTS together.
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Source: ESMA
ESMA publishes final guidelines on Alternative Performance Measures
October 5, 2015--The European Securities and Markets Authority (ESMA) has published its final Guidelines on Alternative Performance Measures (APMs) for listed issuers.
An APM is a financial measure of historical or future financial performance, financial position, or cash flows, other than a financial measure defined or specified in the applicable financial reporting framework. The guidelines apply to APMs disclosed by issuers or persons responsible for drawing up a prospectus on or after 3 July 2016.
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Source: ESMA
Deutsche Boerse launches Intraday Volatility Forecast for Futures of DAX, EURO STOXX 50 and Euro-Bund
New analytic provides key input for trading algorithms and risk methodologies
October 5, 2015--Deutsche Börse Market Data+ Services is launching the new information product 'Intraday Volatility Forecast' on 23 November, The new analytic delivers ten-second, one-minute and ten-minute volatility forecasts for the futures of DAX, EURO STOXX 50 and Euro-Bund.
"Our forecasts can help traders assess the likelihood of price changes and therefore the risk involved in using certain automated strategies. The forecasts can also be used by screen traders in live trading and serve as input for pre-trade transaction cost analysis", said Georg Gross, Head of Information, Market Data + Services, Deutsche Börse. "With the Intraday Volatility Forecast, traders can profit from both our complete set of historical futures data as well as our data processing capabilities."
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Source: Deutsche Börse
Ukraine: Reforms Helped to Stabilize Economy, but Continued and Faster Reforms are Key
Ukraine's GDP to decline by 12 percent in 2015, but 1 percent growth is possible in 2016, projects World Bank
October 5, 2015--Despite a few encouraging signs of economic stabilization seen in July and August 2015, in its new Ukraine Macroeconomic Update the World Bank projects real GDP to fall by 12 percent this year, down from an earlier projected 7.5 percent decline.
The macroeconomic policy mix adopted by the authorities proved to be effective in mitigating a much more painful impact on the country's economy, but the on-going conflict in the east has made stabilization more difficult. Coupled with an unfavorable global economic environment, it has led to a much sharper contraction in the economy.
view the Ukraine Macroeconomic Update-October 2015
Source: World Bank
UK official holdings of international reserves: September 2015
October 5, 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
ESMA adds Index CDS to central clearing obligation
October 2, 2015--The European Securities and Markets Authority (ESMA) has today finalised and issued
a draft regulatory technical standard (RTS) for the central clearing of Credit Default Swaps (CDS), ESMA is required to develop RTS which implement the European Market Infrastructure Regulation (EMIR).
The draft RTS defines the types of CDS contracts which will have to be centrally cleared, the types of counterparties covered by the obligation and the dates by which
central clearing of CDS will become mandatory.
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Source: ESMA
Final Report Draft technical standards on the Clearing Obligation-Index Credit Derivatives
October 2, 2015--ESMA-Final Report
Draft technical standards on the Clearing Obligation-Credit Derivatives
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Source: ESMA
ESMA sees progress in reform of EU credit rating industry
October 2, 2015--The European Securities and Markets Authority (ESMA) has published two sets of Technical Advice (TS) and a Report on the regulation of credit rating agencies (CRAs) in the EU.
These papers provide an overview of competition and insight into the market dynamics of this industry. They also consider measures to provide stronger controls around credit ratings for structured finance instruments and to reduce reliance on credit ratings.
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Source: ESMA
Q&A-Implementation of the Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR) (No.14)
October 1, 2015--The 14th update includes guidance on a procedure to be followed by counterparties and TRs in order to update counterparty's identifier in case where a counterparty obtains LEI or its LEI changes due to a merger or acquisition.
view the Q&A-Implementation of the Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR) (No.14)
Source: ESMA
Switzerland's GAM shuts active ETF range
September 30, 2015--Swiss asset manager GAM Holding will close its range of actively managed exchange traded funds after admitting that the products are failing to gather assets.
The Zurich-based manager says that following a "thorough analysis" of the costs relating to the ETF format and the "limited prospects to increase their size in the foreseeable future" it will close its range of Julius Baer-branded Smart Equity funds
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Source: FT.com
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