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ESMA assesses regulators' compliance with market maker exemption under Short-Selling Regulation
January 5, 2016--The European Securities and Markets Authority (ESMA) has today published the results of a targeted review it conducted among five national competent authorities (NCAs) under the Short-Selling Regulation (SSR).
The review focused on those markets with the highest number of market makers benefiting from the exemption, and the markets in which market makers have notified the highest number of instruments.
view the ESMA Peer Review Report-Compliance with SSR as regards Market Making activities
Source: ESMA
Deutsche Börse cash market turnover up by 28 percent in 2015
January 4, 2016--Cash markets turnover totals €1.64 trillion in 2015
ETF segment records second strongest year since introduction in 2000
December order book turnover increases 12 percent year-on-year
Deutsche Börse cash markets recorded a total of €1.64 trillion in turnover in 2015 (2014: €1.28 trillion), a 28 percent increase over the previous year. Of this amount, €1.51 trillion is attributable to Xetra, €54.6 billion to Börse Frankfurt and €75.3 billion to Tradegate Exchange.
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Source: Deutsche Börse
EU calls time on 'too big to fail' with bank bail-in laws
Taxpayers will no longer have to foot the bill for collapsing banks as part of Brussels plans to create a banking union
December 30, 2015--Europe has called an end to the era of mass bank bail-outs as new rules to stop taxpayers from footing the cost of financial rescues come into force.
Private sector creditors will be forced to take the hit for bank failures as the EU seeks to end the age of "too big to fail," which has cost member states more than €1.5 trillion since 2008.
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Source: telegraph.co.uk
Russia Business Sentiment Bounces Back in Dec-Both Production, New Orders Above the 50 Level
December 29, 2015--The MNI Russia Business Sentiment Indicator bounced back sharply to 50.0 in December from a record low of 37.1 in November.
While the swiftness of the bounce back suggests last month's lurch
lower was an anomaly, a sharp fall in expectations in December to 37.6 from 41.4 shows businesses
remain very concerned about the future.
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Source: MNI Indicators
Here to stay: the continuing influence of the leverage ratio
December 29, 2015--The Basel III menu of global rules set out in December 2010 changed everything for banks, and the leverage ratio included in the package was an important part of the transition to a safer financial sector.
But it may get tougher for European banks to comply with this metric, experts told SNL.
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Source: snl.com
Draghi's Less-Than-Super Stimulus Pushes Bonds to Monthly Loss
December 23, 2015--Declines come after Draghi rate cut that just met expectations
Spanish bonds drop for a third day after weekend elections.
Investors in euro-area government bonds are set to suffer their first monthly loss since August after wagers on additional stimulus proved to be too optimistic for Mario Draghi to satisfy.
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Source: Bloomberg
Slowing UK growth leaves Bank of England unhurried on rates
December 23, 2015--Britain's economic growth has slowed markedly, according to data on Wednesday that supports expectations the Bank of England will not raise record low interest rates any time soon.
Hurt by slow demand for exports from a flagging global economy, gross domestic product grew 0.4 percent in the third quarter, matching its lowest rate since late 2012, when Britain was still struggling to recover from the financial crisis.
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Source: Rueters
Guidelines on transaction reporting, reference data, order record keeping & clock synchronisation
December 23, 2015--Responding to this paper
ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex 1. Comments are most helpful if they:
1.respond to the question stated;
2.indicate the specific question to which the comment relates;
3.contain a clear rationale; and
4.describe any alternatives ESMA should consider.
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Source: ESMA
ESMA publishes results of second Market Abuse Directive peer review
December 22, 2015--The European Securities and Markets Authority (ESMA) published today the results of its follow-up review of national competent authorities' (NCAs) supervisory regimes with regard to the Market Abuse Directive (MAD).
This review was limited to the areas where shortcomings were noted previously, and covered seven NCAs where some shortcomings had been noted in the previous peer review-namely those of Bulgaria, Iceland, Liechtenstein, Poland, Romania, Slovakia and Slovenia.
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Source: ESMA
ESMA publishes MiFID II guidelines on cross-selling practices
December 22, 2015--The European Securities and Markets Authority (ESMA) has published its Guidelines on Cross-Selling Practices under MiFID II (guidelines) to ensure investors are treated fairly when an investment firm offers two or more financial products or services as part of a package.
The guidelines include principles on:
improving disclosures when different products are cross-sold with one another;
requiring firms to provide investors with all relevant information in a timely and clear manner;
view the ESMA Guidelines on Cross-Selling Practices
Source: ESMA
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