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National Statistics: UK official holdings of international reserves: May 2018
June 5, 2018--This monthly release shows details of movements in the UK's official holdings of international reserves, or assets. These consist of gold, foreign currency assets and International Monetary Fund assets.
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Source: HM Treasury
Scout24, Delivery Hero and Puma to be included in MDAX
June 5, 2018--On Tuesday, Deutsche Börse announced changes to its selection indices, which will become effective on 18 June 2018. Scout24 AG, Delivery Hero AG and Puma SE will be included in the MDAX index and will replace the shares of STADA Arzneimittel AG, Krones AG and alstria office REIT-AG.
As of 13 July 2018, STADA will change from the segment Prime Standard into General Standard and therefore no longer fulfils the criteria to remain in the indices. The inclusion of Delivery Hero AG and Puma SE is based on the fast entry rule; both companies are eligible for the index inclusion due to their market capitalisation and order book turnover.
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Source: Deutsche Börse Cash Market
Boerse Stuttgart generates turnover of around EUR 6 billion in May
June 4, 2018--Trading volume in all asset classes up on previous month
According to its order book statistics, Boerse Stuttgart generated turnover of around EUR 6 billion in May 2018.
Securitised derivatives accounted for the largest share of the turnover. The trading volume in this asset class was around EUR 2.7 billion. This represents an increase of 18 percent in comparison with the previous month. Leverage products generated turnover of more than EUR 1.5 billion-an upsurge of around 9 percent on the same period of the previous year. Investment products accounted for around EUR 1.2 billion of the total turnover. This represents an increase of more than 26 percent compared with the previous month.
At Least 619 UCITS Equity Funds Found In Breach Of Key EU Disclosure Rules As Poor Enforcement Prospers In Several Key Countries
June 4, 2018--Renewed research by BETTER FINANCE finds that at least 30% of the main actively managed UCITS equity funds (those with a 'fund benchmark') still do not comply with key disclosure requirements for benchmarks as stipulated in EU Rules.
In the face of persistent poor enforcement in our view in some major fund domiciles, BETTER FINANCE sees no other way but to name the perpetrators and failing jurisdictions it identified.
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Source: Betterfinance.eu
The Sun Finally Shines on Carbon Markets
June 4, 2018--EU environmental markets have certainty--and room to grow again
It wasn't long ago many participants in the European carbon markets thought these markets were essentially done. The EU's Emission Trading Scheme was flooded with carbon credits, prices had fallen to a few euros, and the idea of a market-based solution to lower greenhouse gas emissions seemed adrift.
Today, the market is much healthier. Prices have risen by more than 160% over the past 12 months, from less than €5 per ton in April 2017 to over €13 in late April. Trading in derivatives on carbon credits, which are listed on exchanges such as ICE Futures Europe and the European Energy Exchange, has surged in recent months and the notional value of trading has jumped from roughly $5 billion a year ago to about $25 billion in the first quarter.
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Source: marketvoice.fia.org
Thomson Reuters-Monday Morning Memo: The Moment of Truth for Investors
June 4, 2018--Every now and then some market risks capitalize and lead to falling prices that hit mutual funds-and therefore their investors-with losses to their portfolios. These market events are a moment of truth for investors, since in some cases they unveil that the particular fund has been exposed to risks that might not have been anticipated by investors. One of these moments happened on Tuesday, May 29, 2018.
The spreads for Italian bonds widened when the designated prime minister resigned after he failed to build a government when his proposed finance minister was vetoed by the country's president.
With regard to their nature, these kinds of market events should be used by fund selectors and investors to validate their decisions, since they unveil whether fund managers have taken risks they shouldn't have in order to enhance the performance of their fund/funds; good performance is the main driver to generating sales for a mutual fund.
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Source: Detlef Glow, Head of EMEA Research-Thomson Reuters Lippe
Banks and brokers suffer 'dramatic' fall in commissions
June 2, 2018--Asset managers cut fees for share trading after introduction of Europe's Mifid II rules Investment banks and brokers across Europe have suffered a "dramatic" fall in the fees asset managers pay them to buy and sell shares in a sign of how the recently introduced Mifid II rules have shaken up markets.
According to research from financial technology company ITG, which looked at the trades of 172 asset managers globally, the commissions paid to brokers dropped 28 per cent in the UK ...
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Source: FT.com
ESMA publishes Q&As in relation the temporary product intervention measures
June 1, 2018--The European Securities and Markets Authority (ESMA) has today published its Questions and Answers on ESMA's temporary product intervention measures on the marketing, distribution or sale of CFDs and binary options to retail clients based on Article 40 of Regulation (EU) No 600/2014 (the Markets in Financial Instruments Regulation, MiFIR)
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Source: ESMA
Cash Market monthly report: increased trading volumes, record in gold holdings
June 1, 2018--While the trading volume on Deutsche Börse's cash markets in May with €145.8 billion was about ten percent higher than in May 2017, the gold holdings of Deutsche Börse broke through the 180-tonne mark for the first time. It currently stands at 181.8 tonnes compared to 174.2 tonnes at the start of the year.
The amount of gold held always increases when investors purchase Xetra-Gold (ISIN: DE000A0S9GB0) via the stock exchange. For each certificate exactly one gram of physical gold is deposited in the German Central Vault for Securities in Frankfurt. At the end of May, the gold price in euros reached its highest level since the start of the year and exceeded for a short time the mark of €36.00 per gram. "The uncertainty on the financial markets has considerably increased again," said Steffen Orben, managing director at Deutsche Börse Commodities GmbH, issuer of Xetra-Gold. "Demand for Xetra-Gold is directly connected to the political uncertainty in Italy and its possible consequences for the EU." Of the total trading volume of €145.8 billion on the cash markets in May, €134.1 billion was attributable to Xetra, €3.3 billion to Börse Frankfurt and €8.3 billion to Tradegate Exchange.
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Source: Deutsche Börse Cash Markets
The Spanish Exchange traded 65.9Euro billion in May, up 6.4% year-on-year
June 1, 2018--The Spanish Exchange traded €65.9 billion in Equities in May, up 0.4% from the preceding month and up 6.4% year-on-year. The number of trades in May reached 3.9 million, up 34.1% from the same month in 2017.
Trading of Financial Derivatives in May increased 21% from May 2017. There was growth in IBEX 35 Futures (28%), Mini IBEX Futures (10%), IBEX 35 Options (15.4%) and in Stock Futures (442%). The open interest in Mini IBEX Futures was up 5%, up 3% in Stock Futures and up 43% in IBEX 35 Options.
In Fixed Income, it is worth mentioning that the traded volume in May was double that corresponding to the same month last year. The volume of new issues admitted to trading on MARF reached €472 million and represents an increase of 40.9% compared to the same period the previous year.
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Source: Bolsas y Mercados Españoles
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