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ESMA updates its MiFID II / MiFIR Q&As on transparency and market structures topics
May 29, 2018--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers regarding transparency and market structures issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
The Q&A provides clarification on the following topics:
the requirements to publish information on post-trade data 15 minutes after publication free of charge;
the publication of transactions and how to populate the field 'publication date and time';
pre-trade transparency requirements for voice trading systems;
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Source: ESMA
Solactive Global Benchmark Series kicks off with the Global Developed Markets Large & Mid Cap Equity Index Family
May 29, 2018--Solactive has decided to take its benchmark offering to the next level by introducing its proprietary Global Benchmark Series (GBS). The Solactive Global Benchmark Series is one of the largest projects undertaken by the German index provider.
Once completed, the GBS will include around 2,000 equity indices, covering developed and emerging markets based on the Solactive Country Classification Framework.
The Solactive Developed Markets Large & Mid Cap benchmark indices aim to track the performance of 23 developed countries covering the top 85% in terms of free float market capitalization. The construction of the GBS follows a consistent bottom-up approach.
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Source: Solactive AG
Invesco launches floating rate note ETFs on LSE, Xetra
May 29, 2018--Invesco is launching two floating rate note ETFs on Xetra, denominated in euros, and one more on the LSE, denominated in dollars, as it sees increasing investor demand for products that can help with concerns around rising interest rates.
The ETFs come after data suggests some 20% of flows to European fixed income ETFs went to FRN ETFs in 2017, and some 55% in the first quarter of 2018.
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Source: Investmenteurope.net
IMF Staff Country Reports-Kingdom of the Netherlands-Netherlands: Selected Issues
May 28, 2018--WAGE MODERATION IN THE NETHERLANDS1
A. Introduction
1. Wage growth has been subdued in the Netherlands despite tighter labor market
conditions in recent years. With employment growth picking up since 2014 and labor force participation rising steadily, the unemployment rate has been falling from close to 8 percent in
2014 to 4.4 percent in last quarter of 2017, back to the pre-crisis range.
However, nominal wage growth remains subdued at around one percent and real wage growth close to zero, much lower
than the wage growth before the crisis. This seems to suggest a flattening of the wage Phillips
curve where falling unemployment fails to generate higher wage growth.
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Source: IMF
Monday Morning Memo: European Investors Continue in "Risk-on" Mode
May 28, 2019--Even though the market environment turned negative, April was the sixteenth consecutive month showing a positive picture for long-term mutual fund flows.
European fund promoters enjoyed net inflows into mixed-asset funds (+€5.0 bn), followed closely by equity funds (+€5.0 bn) and alternative UCITS funds (+€3.4 bn) as well as bond funds (+€1.7 bn), commodity funds (+€1.5 bn), "other" funds (+€0.9 bn) and real estate funds (+€0.2 bn).
These fund flows added up to overall net inflows of €17.6 bn into long-term investment funds for April. ETFs contributed €0.5 bn to these inflows.
Money Market Products
After posting net outflows for February and March, money market funds were the best-selling asset type overall for April (+€10.6 bn). In line with their actively managed peers, ETFs investing in money market instruments posted net inflows of €0.1 bn.
This flow pattern led the overall fund flows to mutual funds in Europe to overall net inflows of €28.2 bn for April and to estimated net inflows of €125.8 bn for the year 2018 so far.
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Source: Detlef Glow, Head of EMEA Research-Thomson Reuters Lippe
ESMA updates Q&A on Short-Selling Regulation
May 28, 2018--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) on the Short-Selling Regulation (SSR).
The overall SSR Q&A revises a pre-existing answer regarding locate arrangements, further specifying the requirements for 'easy-to-borrow and purchase' lists.
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Source: ESMA
ESMA promotes consistent (anti-)procyclicality margin measures for CCPs
May 28, 2018--The European Securities and Markets Authority (ESMA) has issued today final guidelines on anti-procyclicality margin measures for central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR).
The Guidelines seek to establish consistent, efficient and effective supervisory practices and to ensure a common, uniform and consistent application of EMIR in order to limit procyclicality of CCP margins.
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Source: ESMA
Deka product manager joins VanEck
May 25, 2018--US ETF provider Vaneck has expanded its European ETF business and has appointed Dominik Schmaus as its new product manager.
Based in Frankfurt, Schmaus will support the company in the development of new products and help to further expand the product offering for European customers.
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Source: Investmenteurope.net
ESMA updates Q&A on MiFIR data reporting
May 25, 2018--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) on data reporting under the Market in Financial Instruments Regulation (MiFIR).
The Q&As provide clarifications in relation to the requirements for submission of transaction reports and reference data under MiFIR.
In particular, the Q&As relate to Complex Trades and National client identifiers for natural persons.
The Q&A on complex trades provides new answers on reporting transactions and reference data for instruments where the execution results in a complex trade as defined under Article 12 of RTS 22.
