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FEMR consultation: How fair and effective are the fixed income, foreign exchange and commodities markets?
October 27, 2014--The Fair and Effective Markets Review (FEMR) has today published a consultation document on what needs to be done to reinforce confidence in the fairness and effectiveness of the Fixed Income, Currency and Commodities (FICC) markets.
The Review was established by the Chancellor in June 2014, to conduct a comprehensive and forward looking assessment of the way wholesale financial markets operate, to help to restore trust in those markets in the wake of a number of recent high profile abuses, and to influence the international debate on trading practices.
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Source: Bank of England
Regulatory pressure on commissions has buy side worried
October 27, 2014--Asset managers' trading desks are concerned they will be on the losing end as regulators push for an unbundling of trade-execution and research commissions paid to banks and brokers."
The cost of research if commissions are unbundled is a concern, as the ban would place European asset managers at a global competitive disadvantage." said Rick Watson, head of capital markets at AFME.
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Source: Smart Brief
Guide to Islamic finance in the UK
October 27, 2014--This Guide providing an overview of the Islamic finance market in the UK, outlining what the UK offers across a number of different sectors.
view the UK Excellence
in Islamic Finance
Source: HM Treasury
Source lists its second sector ETF on London Stock Exchange
October 27, 2014--Investment firm Source has listed the Source EURO STOXX Optimised Banks UCITS ETF on the London Stock Exchange. The fund provides exposure to banks within the Eurozone and is optimised to reduce exposure to illiquid stocks.
This optimisation produces a more representative and tradable sector benchmark. "The results of the European Central Bank's Asset Quality Review have shed light on the health of the region's banks as well as the broader European economy," says Michael John Lytle, Chief Development Officer. "For investors who want to increase their exposure to Eurozone banks, this ETF provides the opportunity to gain access quickly and efficiently. It is the second banking sector ETF that Source has listed on the LSE, following the Source STOXX Europe 600 Optimised Banks UCITS ETF, which differs because it includes UK banks. Both ETFs trade throughout the day and the holdings and counterparty exposures are published daily on our website, providing total transparency."
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Source: FTSE Global Markets
ROBO-STOX opens London Stock Exchange trading
October 27, 2014-- 'iiwa' the robot, opens London trading
Marks the launch of ROBO-STOX Global Robotics and Automation ETF
First European ETF providing exposure to the global robotics and automation sector.
London Stock Exchange today welcomes the first global robotics and automation ETF to its markets. The ROBO-STOX(R) Global Robotics and Automation GO UCITS ETF launched by ETF Securities, and ROBO-STOX(R), the robotics and automation investment research company, gives investors the opportunity to gain exposure to a new and rapidly evolving industry sector.
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Source: London Stock Exchange Group
Change at the top of Deutsche Borse AG Chief Executive Officer Reto Francioni will hand over his tasks to his successor after the Annual General Meeting 2015
Carsten Kengeter takes over the position of Chief Executive Officer from 1 June 2015-Deputy CEO Andreas Preuss extends contract
October 27, 2014--After 17 years on the Executive Board of Deutsche Börse AG, almost ten of which as CEO, Reto Francioni will hand over his post to his designated successor, Carsten Kengeter, after Deutsche Börse AG's Annual General Meeting on 13 May 2015.
Reto Francioni will turn 60 in August 2015. Over the past months the Chairman of the Supervisory Board, Joachim Faber, and the respective Supervisory Board committees have identified an suitable successor in an extensive process and with the accompanying support of the CEO, Reto Francioni. Carsten Kengeter, who will already join as a member of the Executive Board in April 2015 at the latest, will take over the position of CEO effective 1 June 2015 after the Annual General Meeting 2015. The current Deputy CEO, Andreas Preuss, will extend his mandate until 31 May 2018. The relevant decisions were taken by the Supervisory Board in its meeting today.
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Source: Deutsche Börse
New London gold benchmark to go live in early first quarter 2015-LBMA
October 27, 2014--A new electronic gold price mechanism is expected to be in operation early in the first quarter of 2015, replacing the century-old gold benchmark, the London Bullion Market Association said on Monday.
The gold industry group said it has launched a survey to request further feedback from market participants on the proposed solutions. Participants will be asked to confirm which solution they will be willing to participate in, the LBMA said.
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Source: Reuters
EBA publishes 2014 EU-wide stress test results
October 26, 2014--The European Banking Authority (EBA) published today the results of the 2014 EU-wide stress test of 123 banks. The aim of the stress test is to assess the resilience of EU banks to adverse economic developments, so as to understand remaining vulnerabilities, complete the repair of the EU banking sector and increase confidence.
On average, EU banks' common equity ratio (CET1) drops by 260 basis points, from 11.1% at the start of the exercise, after the asset quality reviews’ (AQRs) adjustment, to 8.5% after the stress. By disclosing these results, the EBA is providing unparalleled transparency into EU banks’ balance sheets, with up to 12,000 data points per bank, an essential step towards enhancing market discipline in the EU.
view the Results of 2014
EU‐wide stress test
Source: EBA
ECB's in-depth review shows banks need to take further action
October 26, 2014--Key results of comprehensive assessment of 130 largest euro area banks:
Capital shortfall of €25 billion detected at 25 participant banks
Banks' asset values need to be adjusted by €48 billion, €37 billion of which did not generate capital shortfall
Shortfall of €25 billion and asset value adjustment of €37 billion implies overall impact of €62 billion on banks
Additional €136 billion found in non-performing exposures
Adverse stress scenario would deplete banks' capital by €263 billion, reducing median CET1 ratio by 4 percentage points from 12.4% to 8.3%
Exercise delivers high level of transparency, consistency and equal treatment
Rigorous exercise is milestone for the Single Supervisory Mechanism starting in November
view the Aggregate report on the comprehensive assessment
Source: ECB
ESMA publishes updated EMIR Q&A
October 24, 2014--The European Securities and Markets Authority (ESMA) has today issued the 11th update of its Q&A document on the implementation of the European Markets Infrastructure Regulation (EMIR).
The Q&As provide answers and guidance related to questions receveid regarding the implementation of EMIR.
view the 11th-Q&A document on the implementation of the European Markets Infrastructure Regulation (EMIR)
Source: ESMA
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