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Finansinspektionen Supervision of the securities market
March 26, 2015--Three key areas are the focus of FI's new report Supervision of the securities market; financial infrastructure, transparency on the securities market as well as new rules for market supervision and the enforcement of financial information.
Central counterparties, central securities depositories, stock exchanges and other types of firms that make up financial infrastructure are necessary for the financial system to work. As a consequence of new regulation following the financial crisis, central counterparties have become more important to the financial system, which in turn has given rise to new requirements for such operations
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Source: Finansinspektionen-Swedish Financial Supervisory Authority
IMF-Ireland: Selected Issues
March 25, 2015--TECHNICAL CHALLENGES IN IMPLEMENTING EU
FISCAL RULES IN IRELAND-A.Introduction
1. Ireland is expected to exit the Excessive Deficit Procedure (EDP) in 2015.1 From a peak of 13.3 percent of GDP in 2010, the overall deficit was
brought down to an estimated 3.9 percent of GDP in 2014.
On staff estimates, this entailed consolidation effort totaling almost 16 percent of GDP over six years in
2009–14, generating an estimated improvement in the primary balance in structural terms of 13½ percent of
GDP in that period. Solid revenue growth combined with restrained growth in primary spending and a decline in
the interest bill is expected to bring the overall deficit below the 3 percent of GDP EDP ceiling in 2015.
view the IMF-Ireland: Selected Issues report
Source: IMF
EDHEC-Risk's annual European ETF Survey confirms high satisfaction levels and increasing interest in products tracking smart beta indices
March 25, 2015--EDHEC-Risk Institute has announced the results of the EDHEC European ETF Survey 2014, a comprehensive survey of 222 European ETF investors.
The survey was conducted as part of the Amundi ETF & Indexing research chair at EDHEC-Risk Institute on "ETF and Passive Investment Strategies."
Among the key findings of the 2014 survey:
Satisfaction has remained at high levels especially for traditional asset classes (satisfaction rate higher or equal to 90%). There have been increases in satisfaction for corporate bond, government bond and equity ETFs but satisfaction rates for ETFs based on the most liquid ETF asset classes are far more consistent compared to those based on illiquid asset classes.
ETF investors plan to further increase their use of ETFs and data shows growing appetite to rely on ETFs for ever more aspects of portfolio management. ETFs which until now frequently represented portfolio reallocation tools or the realisation of tactical bets are becoming candidates for core investment strategies.
Among the biggest priorities seen by investors for future product development in the ETF space, four concern indices relating to smart beta approaches, namely smart beta equity (37%), equity factor (31%), equity style (29%), and smart beta bond (25%).
view the The EDHEC European ETF Survey 2014
Source: EDHEC-Risk Institute
Draft guidelines on complex debt instruments and structured deposits
March 24, 2015--Who should read this paper
This paper is primarily of interest to
competent authorities and firms that are subject to MiFID, in
particular, investment firms and credit institutions performing
investment services and activities.
This paper is also important for
trade associations, investors, and consumer groups, because the
guidelines seek to implement enhanced provisions to ensure investor
protection with potential impacts for anyone engaged in dealing with or
processing of financial instruments.
view the ESMA-Consultation Paper Draft guidelines on complex debt instruments and structured deposits
Source: ESMA
Three new db x-trackers ETFs launched on Xetra
ETFs provide access to small, mid and large cap US stocks
March 24, 2015-Three new db x-trackers ETFs from the product family section of Deutsche Asset & Wealth Management have been tradable in Deutsche Börse's XTF segment on Xetra since Monday.
Name: db x-trackers S&P 500 UCITS ETF (Prospective DR)
Asset class: equity index ETF
ISIN: IE00BM67HW99
Ongoing charges: 0.30%
Distribution policy: accumulating
Benchmark: S&P 500 EUR Hedged Index
The db x-trackers S&P 500 UCITS ETF (Prospective DR) tracks the performance of 500 large-cap companies, representing all major US industries.
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Source: Xetra
Trafigura defends traders against European capital regulations
March 23, 2015--A crash in oil prices has once again proven the resilience of trading houses and shown there is no need to put them under strict capital requirement regulations, research funded by trading house Trafigura showed on Monday.
The report came as European authorities review a set of regulations known as the Markets in Financial Instruments Directive (Mifid II), which contains capital requirement directive (CRD IV) aimed at cutting systemic risks across equity, fixed income and commodity markets.
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Source: Reuters
Deutsche Bank Said to Weigh Shrinking Securities Unit
March 23, 2015--Deutsche Bank AG, which runs Europe's biggest investment bank, is looking at shrinking its trading businesses as it reviews three options to boost the firm's profitability, according to a person familiar with the matter.
To help lift returns, the bank is considering paring its interest-rate trading business and the prime finance activities that cater to hedge funds, said the person, who asked not to be identified speaking about private discussions.
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Source: Bloomberg
ESMA-Call for evidence on private and bilateral SFIs
March 20, 2015--Summary
This call for evidence should be read by all those involved in the EU securitisation markets. It is particularly targeted at the following market participants and the groups and trade associations who represent them:
Issuers, originators and sponsors of Structured Finance Instruments (SFIs);
Investors acting in the securitisation markets;
Market intermediaries other than the issuers, originators and sponsors of SFIs.
Societe Generale launches range of Short & Leverage ETPs
March 20, 2015--SG has launched a range of new products called Short & Leverage ETPs.
Short and Leverage ETPs are fixed term investment products, which enable you to take Long (rising markets), or...
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Source: Société Generale
EBA consults on exposures to shadow banking
March 19, 2015--The EBA launched a public consultation on its guidelines proposing criteria to set limits on EU institutions' exposures to shadow banking entities.
The document lays out a qualitative approach for institutions to develop their internal policies for monitoring and setting appropriate limits, both at individual and aggregate levels. These guidelines will also help inform the Commission's work in relation to its report on the appropriateness and impact of imposing limits on exposures to shadow banking entities under Article 395(2) of the Capital Requirements Regulation (CRR). The consultation runs until 19 June 2015.
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Source: EBA (European Banking Authority)
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