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ESMA issues final draft standards on acquisitions and increases in holdings in investment firms under MiFID
January 7, 2014--The European Securities and Markets Authority (ESMA) has issued final draft technical standards on the Markets in Financial Instruments Directive (MiFID) regarding acquisitions and increases in holdings in investment firms. MiFID requires Member States to publish information which allows to carry out the assessment of an acquirer of an investment firm.
This information must be provided by the acquirer at the time of the initial notification. This information is aimed at ensuring that national competent authorities are provided with adequate and proportionate information in order to assess the acquisition.
MiFID requires ESMA to issue regulatory technical standards (RTS) to establish an exhaustive list of information and implementing technical standards (ITS) to determine standard forms, templates and procedures for the cooperation and exchange of information between the relevant competent authorities.
Deutsche, Harvest to launch Europe's first physical China A-shares.
January 7, 2014--Deutsche Asset & Wealth Management (DeAWM) and Harvest Global Investments are set to launch Europe's first direct, physical replication ETF tracking China's CSI300 'A-shares' Index.
The db x-trackers Harvest CSI300 Index UCITS ETF (DR) is available for investment from today and will list on the London Stock Exchange and the Deutsche Börse on January 16. It is the first UCITS-compliant direct replication China A-shares fund on the CSI300, and the first of its kind to be given such approval by a European regulator.
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Source: theasset.com
UK Official holdings of international reserves, December 2013
January 6, 2014--In summary, this month's release shows that in December 2013: No intervention operations were undertaken.
Movements in reserves and levels of reserves were as follows:
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Source: HM Treasury
EU won't seek law to separate banking activities: FT
January 6, 2013--The European Union is set to drop financial reforms that would force big banks to ringfence their retail departments from riskier investment operations, the Financial Times reported on Monday.
A draft European Commission paper, seen by the business paper, would no longer make banks automatically split operations and would give national supervisors more leeway in applying the reforms.
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Source: EUbusiness
Deutsche ETF arm has painful 2013
January 5, 2014-Deutsche Bank was the only leading exchange traded fund provider to have experienced outflows in 2013, after investors pulled $4.6bn from its passive business.
The German bank's European rivals, by contrast, attracted billions of dollars to their ETF businesses in the first 11 months of the year, figures from ETFGI, the data provider, show. view more
Source: FT.com
Boerse Stuttgart reports annual turnover of nearly EUR 89 billion for 2013
Equities trading sets new record
Boerse Stuttgart leads European market in securitised derivatives and German market for corporate bonds
January 3, 2014--According to the order book statistics, total turnover from trading at Boerse Stuttgart reached almost EUR 89 billion in 2013, roughly the same level as in 2012.
Equities trading set a new record, with order book turnover climbing to more than EUR 14.9 billion -over EUR 11.3 billion from German equities and around EUR 3.6 billion from international equities. Total turnover for this asset class was up more than 16 percent on the previous record in 2011 and around 32 percent up on the figure for 2012. These results were largely responsible for making Boerse Stuttgart Germany's leading floor-trading exchange across every asset class in terms of trading volume.
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Source: Boerse Stuttgart
Frontloading Fears Remain Despite Esma Guidance
January 2, 2014--Dealers say they still do not know how to price swaps that could be caught by so-called frontloading requirements in Europe
-under which a trade that has already been executed may have to be sent to a clearing house months or years later.
That is despite new guidance provided by the European Securities and Markets Authority (Esma) on December 20, which narrows the window of uncertainty.
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Source: .derivalert.org
Turnover at Deutsche Borse's cash markets at 1.16 trillion euros in 2013
85.4 billion euros turnover in December
January 2, 2013In 2013, €1.16 trillion were turned over at the cash markets of Deutsche Börse (2012: €1.16 trillion).
Order book turnover on Xetra, the Xetra Frankfurt specialist trading and Tradegate stood at €85.4 billion in December (December 2012: €68.3 billion). Of the €85.4 billion, €77.2 billion were attributable to Xetra (December 2012: €62.5 billion). €4.2 billion were attributable to the Xetra Frankfurt specialist trading (December 2012: €3.5 billion).
Order book turnover on Tradegate Exchange* totalled approximately €4.0 billion in December (December 2012: €2.4 billion).
In equities, turnover reached €72.8 billion on Deutsche Börse's cash markets (Xetra: €67.1 billion, Xetra Frankfurt specialist trading: €2.0 billion, Tradegate Exchange: €3.6 billion). Turnover in bonds was €898.2 million, and in structured products on Scoach €1.2 billion. Order book turnover in ETFs/ETCs/ETNs amounted to €10.3 billion.
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Source: Deutsche Börse
Early spotlight on Portugal, France in new credit ratings calendar
January 2, 2014--Europe's new calendar for sovereign credit ratings, an EU measure to shine a light on the actions of ratings agencies, will in its busy first few weeks thrust the market spotlight on bailed-out Portugal and recently downgraded France.
European Union rules came into force this month requiring Standard and Poor's, Moody's, Fitch and other credit ratings agencies that operate in Europe for the first time to lay out the dates on which they review a country's rating.
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Source: Reuters
Latvia becomes the 18th Member State to adopt the euro
December 31, 2013--After Latvia adopts the euro at midnight tonight-on the 15th anniversary of the launch of the euro in 1999-18 Member States and 333 million Europeans will share the same currency.
This is a major achievement for Latvia and for the euro area as a whole. Tomorrow, Latvians will start withdrawing euro cash and paying for their purchases in euro. This has been made possible thanks to thorough preparations ahead of the introduction of the single currency.
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Source: Europa
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