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ESMA publishes Final Reports on CCP resolution regime
May 16, 2022--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, today published six Final Reports on the central counterparties (CCPs) resolution regime under the CCP Recovery and Resolution Regulation (CCPRRR).
The Final Reports set out proposals for Regulatory Technical Standards (RTSs) on:
the content of CCP resolution plans;
resolution colleges;,
valuation of CCPs' assets and liabilities in resolution; and
safeguards for clients and indirect clients.
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Source: ESMA
EC-Spring 2022 Economic Forecast: Russian invasion tests EU economic resilience
May 16, 2022--The outlook for the EU economy before the outbreak of the war was for a prolonged and robust expansion. But Russia's invasion of Ukraine has posed new challenges, just as the Union had recovered from the economic impacts of the pandemic. By exerting further upward pressures on commodity prices, causing renewed supply disruptions and increasing uncertainty, the war is exacerbating pre-existing headwinds to growth, which were previously expected to subside.
This has led the European Commission to revise the EU's growth outlook downwards, and the forecast for inflation upwards.
Almost two years after the start of the pandemic, Russia's war against Ukraine poses new challenges to the EU economy.
Despite entering the year on a weak note, the outlook for the EU economy before the outbreak of the war was for a prolonged and robust expansionary phase. The pandemic situation was improving, while most of the headwinds posed by logistic and supply bottlenecks and pressures on the price of energy and other commodities were expected to fade in the course of this year.
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Source: EC (European Commission)
New equity index ETF from UBS on Xetra: climate-conscious investing with Japanese companies
May 16, 2022--A new exchange-traded fund issued by UBS Global Asset Management is tradable on Xetra and Börse Frankfurt since Monday.
The UBS ETF (IE) MSCI Japan Climate Paris Aligned UCITS ETF (hedged to EUR) A-acc offers investors access to the performance of large and medium-sized Japanese companies that are selected and weighted according to their contribution to preventing climate change. Companies that focus their business on decarbonisation or offer green solutions are overweighted.
The benchmark index is designed for investors who want to reduce their exposure to transition and physical climate risks and take advantage of opportunities arising from the transition to a low carbon economy under the requirements of the Paris Agreement.
This is a currency hedged share class, meaning that the impact of exchange rate fluctuations is minimised.
Name: UBS ETF (IE) MSCI Japan Climate Paris Aligned UCITS ETF (hedged to EUR) A-acc
Asset class: Equity ETF
ISIN: IE000JHYO4T6
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Source: Deutsche Börse
ECB-Euro area securities issues statistics: March 2022
May 12, 2022--The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 4.5% in March 2022, compared with 4.7% in February.
For the outstanding amount of listed shares issued by euro area residents, the annual growth rate was 1.2% in March 2022, compared with 1.4% in February.
Debt securities
New issuances of debt securities by euro area residents totalled EUR 862.1 billion in March 2022. Redemptions amounted to EUR 724.1 billion and hence net issues to EUR 138.0 billion. The annual growth rate of outstanding debt securities issued by euro area residents was 4.5% in March 2022, compared with 4.7% in February.
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Source: ECB
Source: ECB
New L&G ETF on Xetra: emerging market government bonds with sustainability filter
May 11, 2022--Since Wednesday, a new exchange traded fund of Legal & General Investment Management is tradable on Xetra and via Börse Frankfurt.
With the L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF, investors can invest in US dollar-denominated government and quasi-sovereign bonds from emerging markets that have a variable or fixed interest rate.
Only bonds with an average maturity of more than 3 months to 5 years and with a minimum volume of €500 million will be considered.
In addition, issuers are filtered and weighted according to ESG criteria, i.e., companies from sectors such as thermal coal, tobacco and weapons are excluded and those with a higher ESG rating are overweighted.
Name: L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF
Asset class: Bond ETF
ISIN : IE000MINO564
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Source: Deutsche Börse
ESAs call for improvements in product descriptions intended for retail investors
May 10, 2022--The European Supervisory Authorities (EBA, EIOPA and ESMA -ESAs) issued today a joint supervisory statement regarding the 'What is this product?' section of the key information document (KID) for packaged retail and insurance-based investment products (PRIIPs).
The expectations put forward in the supervisory statement aim at improving the quality of descriptions provided by PRIIPs manufacturers and thereby contribute to better protection of retail investors.
The ESAs have identified a range of poor practices in how PRIIP manufacturers describe products under this section. Most issues relate to a general lack of clarity in the text, which makes it difficult for retail investors to understand the key features of products.
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Source: ESMA
New Equity Index ETFs from Invesco on Xetra: access to Chinese A-Shares
May 10, 2022--Two new exchange-traded funds issued by Invesco are tradable on Xetra and via Börse Frankfurt since Monday.
The Invesco S&P China A 300 Swap UCITS ETF gives investors access to the performance of the 300 largest and most liquid equity companies by market capitalisation that are traded on the Shanghai and Shenzhen stock exchanges in the Chinese currency renminbi (A-shares).
Excluded are companies in financial distress and classified as "special treatment" stocks and those that have recorded negative earnings per share (EPS) in the previous two years.
The Invesco S&P China A MidCap 500 Swap UCITS ETF provides investors with access to the mid-cap segment of the Chinese capital market. The ETF tracks the performance of the 500 largest A-shares by market capitalisation in the S&P China A 1800 Index (parent index), after excluding stocks in the S&P China A 300 Index.
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Source: Deutsche Börse
Deutsche Börse welcomes SEBA Bank as new issuer of Crypto ETNs
May 9, 2022--ETNs track performance of Bitcoin, Ethereum, Polkadot and a basket of cryptocurrencies
Since Monday, four cryptocurrency products issued by SEBA Bank have been tradable on Xetra and via Börse Frankfurt for the first time.
The four Exchange Traded Notes (ETNs) from SEBA Bank give investors easy access to the performance of the cryptocurrencies Bitcoin, Ethereum and Polkadot. In addition, an ETN tracks the performance of the SEBA Crypto Asset Select Index (SEBAX).
This currently comprises the cryptocurrencies Bitcoin, Ethereum, Solana, Litecoin, Cardano, Polkadot and Avalanche. The ETNs are physically collateralised by the respective underlying cryptocurrencies and are available to investors in the two trading currencies euro and US dollar.
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Source: Deutsche Börse
New Equity Index ETF from Global X on Xetra: access to the silver mining industry
May 6, 2022--A new exchange-traded fund issued by Global X has been tradable on Xetra and via Börse Frankfurt since Friday.
The Global X Silver Miners UCITS ETF gives investors access to companies worldwide that are active in the silver mining industry.
These include silver mining, refining and exploration. Companies are weighted by free float and market capitalisation, with a maximum cap for any one company of 15 per cent.
Currently, the benchmark index includes 40 companies, with the most heavily represented being based in Canada, the USA, and the UK.
Name: Global X Silver Miners UCITS ETF
Asset class: : Equity ETF
ISIN: IE000UL6CLP7
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Source: Deutsche Börse
UK official holdings of international reserves: April 2022
May 5, 2022--This release details movements in the international reserves of gold and assets held by the UK government.
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Source: gov.uk