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Sustainable investment 'rebooting' Europe's private markets, research finds
October 11, 2021--The rise in demand for sustainable investments is driving a "structural reboot" of private market investing in Europe, with environmental, social and governance funds on track to account for up to two-fifths of the industry's assets in just a few years.
According to research from PwC, ESG private market assets could hit between €775.7bn and €1.2tn by 2025, up from €253bn in 2020, as regulation and client demand force an overhaul of private equity, real estate, infrastructure and private debt funds.
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Source: todayuknews.com
New WisdomTree ETF on Xetra: access to commodity basket ex agriculture with roll optimisation
October 11, 2021--Since Monday, a new exchange-traded fund issued by WisdomTree is tradable via Xetra and Börse Frankfurt.
The WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF-USD Acc gives investors access to a broadly diversified commodity basket, which consists of futures contracts on energy. industrial and precious metals.
All three sectors are equally weighted at the time of quarterly rebalancing. Commodities from the agricultural sector are not considered.
An optimised roll mechanism is used in the composition of the commodity basket to minimise roll losses. Thus, commodities with a higher probability of backwardation are overweighted. If longer-dated futures contracts are more favourable than the contract currently expiring, the market is in backwardation.
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Source: Xetra
Passive managers urged to do more to exclude 'coal laggards'
October 8, 2021--Only 15% of European ETFs and other index products track ESG indices
Passive fundhouses are being encouraged to pressure index providers to exclude "coal lag" from mainstream indexes to help move to net zero.
This leaves more than €1.9 trillion in assets in European funds that track non-ESG indexes, estimates based on Morningstar data.
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Source: ft.com
EC aims for near-real-time consolidated tape
October 7, 2021--Exchanges say the plan is too ambitious and would trigger a latency arms race
The European Commission wants to create a consolidated tape that will deliver trade-data to investors in seconds rather than minutes-an ambitious goal that puts it at odds with exchanges, which have called for a 15-minute delay in reporting transactions.
John Berrigan, the EC's directorate-general for financial stability, financial services and capital markets union (DG Fisma), said that while the aggregated feed of prices and volumes did not have to operate at lightning speeds, reporting
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Source: risk.net
Brussels rejects exchanges' call for 15-minute delay on record of trades
October 7, 2021--Near real-time information is needed to attract more retail investors to capital markets, says European Commission.
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Source: ft.com
Account of the monetary policy meeting of the Governing Council of the European Central Bank
October 7, 2021--Held in Frankfurt am Main on Wednesday and Thursday, 8-9 September 2021
1. Review of financial, economic and monetary developments and policy options
Financial market developments
Ms Schnabel reviewed the financial market developments since the Governing Council's previous monetary policy meeting on 21-22 July 2021.
The pronounced decline in ten-year US Treasury yields and euro area GDP-weighted sovereign yields observed just before the previous Governing Council meeting had proven persistent despite the ongoing recovery from the pandemic crisis.
More recently, yields had been trending somewhat higher but, overall, they had not risen back to the levels seen during the last recovery in 2017-18, or even to the levels seen earlier in 2021. Very low interest rates also continued to prevail across the currency union. Sovereign bond spreads over German Bunds had remained resilient at levels below or close to post-2008 lows.
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Source: ECB
Deutsche Borse launches next-generation digital post-trade platform
October 6, 2021--Digital post-trade platform D7 enables end-to-end digital securities processing
Over 80 per cent of German securities eligible to be digitised through centralised digital register by mid-2022, enabling same-day-issuance and paperless, automated straight-through processing
Launch partners include leading financial institutions and global technology partners
Global market infrastructure provider Deutsche Börse plans to launch a regulatory compliant, fully digital post-trade platform called D7, anchored in the recently introduced German digital securities law framework.
The new cloud-backed and DLT-ready D7 platform will enable market participants to digitise their financial products with continuing access to both existing central and distributed infrastructures and markets.
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Source: Xetra
Research: UK official holdings of international reserves: September 2021
October 5, 2021--This release details movements in the international reserves of gold and assets held by the UK government.
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Source: gov.uk
Strong Rebound in 2021 Boosts Economies in Emerging Europe and Central Asia
October 5, 2021--October 5, 2021--A competitive business environment is key to resilient, sustainable long-term growth
A surprisingly strong rebound in the first half of this year boosted economic activity in emerging and developing countries in the Europe and Central Asia region, with the regional economy now projected to expand by a better-than-expected 5.5 percent in 2021, says the latest edition of the World Bank's Economic Update for the region, released today.
The rebound was largely driven by a strong recovery in exports during the first half of this year, as activity in the Euro area bounced back and commodity prices rose sharply, as well as strengthening domestic demand due to vaccinations and support packages. The boost to exports, however, may be fading due to the ongoing global and regional spread of more contagious COVID-19 variants, which has also dampened the recovery in regional domestic demand.
view the World Bank Europe and Central Asia Economic Update Competition and Firm Recovery Post-COVID-19
Source: World Bank
ESMA Newsletter September 2021
October 5, 2021--ESMA unveiled its workstreams for 2022
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Source: ESMA
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