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1.28 trillion euros turnover on Deutsche Boerse's cash markets in 2014
108.9 billion euros turnover in December
January 2, 2015--In 2014, turnover at the cash markets of Deutsche Börse stood at €1.28 trillion (2013: €1.16 trillion).
Order book turnover on Xetra, Börse Frankfurt and Tradegate stood at €108.9 billion in December (December 2013: €85.4 billion).
Of the €108.9 billion, €100.7 billion were attributable to Xetra (December 2013: €77.2 billion). €4.0 billion were attributable to Börse Frankfurt (December 2013: €4.2 billion). Order book turnover on Tradegate Exchange* totalled approximately €4.3 billion in December (December 2013: €4.0 billion).
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Source: Deutsche Börse
Draghi: Risk of ECB failing its mandate higher than 6 mths ago-paper
January 1, 2015--European Central Bank President Mario Draghi said the risk of the central bank not fulfilling its mandate of preserving price stability was higher now than half a year ago, and reiterated its readiness to act early this year should it become necessary.
In an interview with German financial daily Handelsblatt, Draghi urged politicians to implement necessary reforms, reduce tax burdens and cut red tape to support the euro zone recovery, which Draghi said was "fragile and uneven".
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Source: Reuters
S&P Dow Jones Indices-Europe Index Dashboard
December 31, 2014--Overall and despite a fair few bumps in the road this year, the S&P Europe 350 index finished 2014 with a better-than-modest total return of 7.8%.
Returns over the year were contributed the most from the Health Care sector while Energy trailed, the latter being the only sector to post a negative total return for the year.
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Source: S&P Dow Jones Indices
Borsa Italiana -2014 Market Highlights
December 30, 3014--26 IPOs raise a total €2.9 billion
Total market capitalisation of listed companies, €470.4 billion
All time record on ETFplus- €36.9 billion of assets under management, 37.91 per cent increase on 2013
Borsa Italiana leading European venue for contracts exchanged on ETFplus and MOT (as at the end of November, 2014)
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Source: Borsa Italiana
Russian economy suffers first contraction since global crisis
December 29, 2014--Russia's economy shrank sharply in November and the rouble resumed its slide on Monday as Western sanctions and a slump in oil prices combined to inflict the first contraction in GDP since the global financial crisis.
The Economy Ministry said gross domestic product shrank 0.5 percent last month, the first drop since October 2009.
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Source: Reuters
EU Retreats on Prop-Trading Ban; Nations Back Separation
December 23, 2014--The European Union's biggest banks may be spared a ban on proprietary trading, with a majority of the bloc's member states preferring for such activities to be split off into separately capitalized units.
A narrowly defined ban aimed at banks' dedicated proprietary trading desks proposed this year by the European Commission, the EU's executive arm, has failed to win support, according to a report prepared by Italy, which holds the EU’s rotating presidency. The measure is part of a broader proposal on managing risks at the bloc's systemically important banks.
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Source: Bloomberg Business Week
ESMA consults on different share classes of UCITS
December 23, 2014--The European Securities and Markets Authority (ESMA) has published a discussion paper on different share classes of UCITS.
The UCITS Directive recognises the possibility for UCITS to offer different share classes to investors but it does not prescribe whether, and to what extent, share classes of a given UCITS can differ from each other.
ESMA has identified diverging national practices as to the types of share class that are permitted, ranging from very simple share classes e.g. with different levels of fees, to much more sophisticated share classes e.g. with potentially different investment strategies.
view the ESMA Discussion Paper-Share classes of UCITS
Source: ESMA
World Bank Lowers 2014 GDP Growth Estimate for Turkey to 3.1 Percent, Maintains 2015 Forecast
December 23, 2014--A weak Q3 GDP print means end-year growth is likely to come in just above 3 percent. However the disappointing headline number is mainly due to a reduction in inventories with other components of domestic demand signaling improvements, according to the World Bank's Turkey Regular Economic Brief[i] No: 5-issued today in Ankara.
Moreover, the outlook for inflation and the current account has improved substantially due to a sharp decline in oil prices. The World Bank's 2015 growth projection remains unchanged at 3.5 percent.
view the Turkey Regular Economic Note
Source: World Bank
UPDATE 1-UK to extend Libor manipulation laws to cover gold, oil, silver
December 22, 2014--Britain will widen the scope of laws which make the manipulation of market benchmarks a criminal offence to include seven more rates covering the currency, gold, oil and silver markets by April 1, the government said on Monday.
The move is the latest by the Conservative-led government to clamp down on malpractice in the City of London whose reputation has been tarnished by an interest rate-rigging scandal and claims that traders colluded to manipulate currency rates.
ESAs tackle cross-selling practices in the financial sector
The draft Guidelines are aimed at EU competent authorities and develop further how EU firms engaging in cross-selling practices in the financial sector should comply with the general conduct of business standards expected toward customers. In particular, the Guidelines provide an approach for supervising firms valid across the EU and give more scope for EU customers to take better informed purchasing decisions. view the Joint Committee Consultation Paper
on guidelines for cross-selling practices
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Source: Reuters
December 22, 2014--The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA) published today a consultation paper on draft Guidelines for regulating cross-selling practices in the financial sector across the EU.
These guidelines establish a coherent and effective approach in supervising firms that offer cross-selling options, so as to enhancing protection of EU customers. The consultation will run until 22 March 2015.
Source: ESMA
