|DB - Equity Research-Weekly & Monthly European ETF Market Monitors: European ETF industry gets a fresh start in January-continued|
|February 10, 2012--ETF month in perspective|
2012: A fresh start for the European ETF industry
January brought a very strong start to the year for the global (US, Europe and Asia) ETF industry. ETF assets grew by 8.1% over January 2012, a growth rate that surpassed the overall 2011 year growth rate of 3.1%. Global ETF assets reached $1.4 trillion as of the end of January 2011, up from $1.3 trillion at the end of 2011.
|Both the US as well as the European ETF industries grew by 8.2% and 6.5%, reaching asset levels of $1.0 trillion and €221.3 billion respectively. Most of the growth came from rebounding equity markets, however, flows accounted for 2.9% of the growth in the US market and for 1.1% of the growth in the European market (US$ terms). Cash flows for the US market totaled $27.1 billion and €2.4 billion for the European market, for the month of January.
The performance of the European ETF market in the first month of 2012 was sharply different from how it ended the previous year. European ETFs registered outflows of €2.2 billion over December 2011, a decline that was largely driven by equity outflows (€1.8 billion). This situation was reversed in January 2012, with equities contributing €1.5 of net inflows towards the new money that flowed into the European ETF industry.
The January 2012 European ETF industry fresh start was mainly driven by two factors. First, overall market conditions improved somewhat, with the Euro Stoxx 50 delivering gains of 4.3%. Better market conditions helped bring ETF investors out of their shell and allocate money back in the equity market. Second, the European Securities and Markets Authority, ESMA, issued its second consultation on ETFs. ESMA’s publication of its views provided comfort to investors as it gave an indication both about the regulatory body’s future intentions as well as its views with regards to perceived ETF risks.
Overall, the ESMA consultation was deemed to be balanced, avoiding any dramatic changes in the European ETF market, especially those that would put it at odds with how mutual funds operate under UCITS. The consultation provided further evidence that ESMA, through ETFs, which are perceived to be the golden standard in the fund industry, is looking to 'tidy-up' a number of wider fund management industry issues, such as tracking capacity and fund construction, primarily pertaining to total return swaps and securities lending practices .
ETF Industry: The month’s investment trends
The US Market: Flows across the board, from domestic to emerging markets
The US ETF industry registered strong cash flows in the first month of the year totaling $27 billion. Investors favor for risky assets continued in January with equities having the lion’s share in cash inflows ($19.3 billion).
US ETF equity flows were quite diversified, with both domestic as well as emerging markets benefiting. US domestic benchmarked equity ETFs brought inflows of $11.5 billion, while emerging market benchmarked equity ETFs saw inflows of $5.7 billion. Sectors also did well, attracting new money totaling $3.2 billion.
Fixed Income ETFs collected a healthy $7.7 billion in cash inflows; a healthy increase over the $6 billion inflows received in December. Commodity ETVs had a positive month, receiving cash inflows in excess of $1.5 billion which is in sharp contrast to last month’s pattern where commodities registered outflows of $2.7 billion.
For more information about analysis and trends in the US ETF market please refer to our US ETF Market Monthly Review.
The European Market: Emerging Markets main flow growth driver
Equity markets across Europe had a very positive run over the month registering advances across the board: DAX (? 9.5%), CAC (? 4.4%), Euro Stoxx 50 (? 4.3%) and the FTSE 100 Index (? 2.0%). Gold and silver spot prices (US$/oz), also appreciated by 9.8% and 17.6% respectively.
The European ETF industry improved on its poor run in December (outflows of €2.1 billion) and received cash inflows of €2.4 billion in January. Most of the flows went into ETFs tracking equity benchmarks (€1.5 billion) with healthy contributions by other asset classes; Fixed Income ETFs (€412 million), commodities (€331 million) and alternatives (€159 million).
Within equities, emerging markets (EM) benchmarks were back in vogue, collecting cash inflows of €904 million in January. The BRIC countries (Brazil, Russia, India & China) collectively pocketed cash inflows of €365 million while ETFs tracking broad benchmarks like the MSCI EM collected €385 million over the same period. Within ETFs tracking developed markets (DM) benchmarks, a clear divergence was visible: ETFs focused on North American region which includes US & Canada received cash inflows of €672 million while ETFs tracking European benchmarks registered outflows of €663 million. ETFs tracking broader DM benchmarks such as MSCI World received net cash inflows of €107 million over the month of January.
ETFs tracking European sectors registered cash inflows of €171 million in January as compared to outflows of €166 million in the month of December.
Despite the positive equity markets and healthy flows, a hint of bearishness continues to persist as evident from the flows into leveraged and inverse products. ETFs providing inverse and leveraged inverse exposure pocketed inflows of €272 million and €282 million in January respectively. On the other hand ETFs providing leveraged exposure registered cash outflows of €332 million.
Fixed Income ETFs registered cash inflows of €412 million over January as compared to outflows of €404 million in December 2011. ETFs tracking corporate debt issuances and sub-sovereigns collected inflows of €588 million and €117 million respectively. Money market & sovereign ETFs registered outflows of €249 million and €144 million respectively.
Commodity ETPs received cash inflows totaling €498 million in January which is marginally higher than the €198 million received in December 2011. Most of the inflows were into products tracking crude oil (€211 million) and diversified commodity indices (€131 million).
ETP investors approached gold products with caution in January, evident from the inflows totaling €56 million which is significantly lower than the €623 million received in December 2011.
ETF comparatives: Mutual Funds, cash equity turnover
European ETF turnover is 8.0% of the region’s cash equities turnover as of the end of January 2012. The equivalent number for the US market stands at 24.5%.
European ETFs comprised 2.8% of the continent’s mutual fund industry, yet ETF cash flows, €17.7 billion from Jan-Nov 2011, was over 1.4x higher than the corresponding unlisted fund flows (- €44 billion). European unlisted mutual funds registered outflows of close to €138 billion in the months of Aug-Nov 2011. Mutual fund industry data as per the European Fund Management Association (EFAMA).
US ETFs comprised 8.1% of the its mutual fund industry, yet ETF cash flows, $113 billion for 2011, was over 4.7x higher than the corresponding unlisted fund flows ($24 billion). Mutual fund industry data as per the Investment Company Institute (ICI).
|Source: Christos Costandinides, European Head of ETF Research & Strategy, Deutsche Bank|
|Europe ETP News|
|Deutsche Boerse AG turns 25|
|December 11, 2017--Foundation of Deutsche Börse as a stock corporation in December 1992
Start of the digitisation of the entire exchange value chain
|New Boost Short ETN on German government bonds launched on XetraETN provides three times the inverse performance of the Bund 30Y Rolling Future Index|
|December 11, 2017--A new exchange traded note (ETN) issued by Boost has been tradable via Xetra and Börse Frankfurt since Monday.
The Boost Bund 30Y 3x Short Daily ETP gives investors access to the inverse performance of futures contracts on German government bonds with a leverage factor of three.
|LSE November 2017 ETP Monthly Report|
|December 11, 2017--Listings
14 new ETFs were listed on LSE in November 2017, making a total of 140 new listings year-to-date.
There are now 960 ETFs (available as 1,460 lines through multi-currency offerings) and 386 other ETPs (available as 453 lines) on our London market.
|FTSE Russell confirms launch of new index showcasing Italian brands|
|December 11, 2017--New FTSE Italia Brands Index due to go live on 18 December 2017
Index comprises initial 22 constituents* of Italian Listed Brands
Italian Listed Brands was established by Borsa Italiana to promote the best Italian brands by creativity, excellence, intuition and innovation.
|The Architecture for Regulating Finance after Brexit|
|December 8, 2017--Linklaters and the International Regulatory Strategy Group have launched a report, "The Architecture for Regulating Finance after Brexit".|
|Tradeweb European Exchange-Traded Funds Update-November 2017|
|December 8, 2017--The following data is derived from trading activity on the Tradeweb European-listed ETF platform.
ETF total traded volume
Notional volume executed on the Tradeweb European-listed ETF marketplace reached €14.18 billion in November, while the number of completed trades increased by 6% on the previous month.
|Update on MiFID II registers from 3 January 2018|
|December 8, 2017--The European Securities and Market Authority (ESMA) will provide updated Registers information in line with requirements under MIFIR/MiFID II. The launch, on 3 January 2018, will update existing registers under MiFID I and also provide for new registers under MiFID II/MiFIR.|
|ESMA publishes key transparency calculations for MiFIDII/MiFIR implementation|
|December 6, 2017--The European Securities and Markets Authority (ESMA) published today the MiFID II/MiFIR transitional transparency calculations (TTC) for equity and bond instruments.|
|Commission sets out Roadmap for deepening Europe's Economic and Monetary Union|
|December 6, 2017--With a Roadmap for action and several concrete measures, the European Commission is delivering today on the commitment made by President Jean-Claude Juncker in his 2017 State of the Union address and the Five Presidents' Report of 2015 to deepen Europe's Economic and Monetary Union.|
|Deutsche Boerse chairman considering early departure-Handelsblatt|
|December 6, 2017-- Deutsche Boerse Chairman Joachim Faber is considering quitting as head of the exchange operator's supervisory board as early as in 2019, Handelsblatt reported, citing sources in the finance industry.|
|Two BNP Paribas equity index ETFs with focus on sustainability launched on Xetra|
|December 5, 2017--ETFs provide access to companies from the USA and emerging market countries
Two new exchange traded funds (ETFs) issued by BNP Paribas Easy have been tradable via Xetra and Börse Frankfurt since Tuesday.
|No changes to selection indices of Deutsche Boerse|
|December 5, 2017-New weightings to be effective as of 18 December 2017
On Tuesday, Deutsche Börse reviewed the composition of its selection indices. The constituents of the indices DAX, MDAX, SDAX and TecDAX remain unchanged.
|Deutsche asset management to rebrand as DWS, plans KGaA structure|
|December 5, 2017--Deutsche Bank (DBKGn.DE) plans to rebrand its asset management arm as DWS, the name of its main retail brand, and put a structure in place that gives the group full control even after the unit's planned stock market listing.|
|First Trust unveils sterling-and euro-hedged share classes for FactorFX ETF TER of 0.75%|
|December 5, 2017--First Trust Global Portfolios (FTGP) has launched sterling and euro-hedged share classes of the First Trust FactorFX UCITS ETF on the London Stock Exchange.|
|ESMA latest Risk Dashboard sees no change in overall risk levels|
|December 5, 2017--The European Securities and Markets Authority (ESMA) has issued today the Risk Dashboard No.4 2017, covering risks in the EU's securities markets for Q3 2017. ESMA's overall risk assessment remains unchanged from Q2 at high levels.|
|National Statistics: UK official holdings of international reserves: November 2017|
|December 5, 2017--This monthly release shows details of movements in the UK's official holdings of international reserves, or assets.|
|Thomson Reuters-Monday Morning Memo: Which Factors Drive Fund Flows in Europe?|
|December 4, 2017--Within the European fund industry calculation of fund flows is quite common, since market observers, fund associations, and even fund promoters publish and comment on these numbers to showcase the success of the fund industry and/or single products and to comment on current trends in Europe.|
|Boerse Stuttgart generates turnover in excess of EUR 7.5 billion in November|
|December 4, 2017--Significant increase in turnover across all asset classes
Some of the highest trading volumes of the year were recorded last month: according to its order book statistics, Boerse Stuttgart generated turnover of more than EUR 7.5 billion in November 2017.
|Transaction fees can multiply OCFs by 500 per cent, research shows|
|December 4, 2017--The implementation of Mifid II will highlight how high fund transaction fees can be, with some as much as 500 per cent of the quoted ongoing charge figure.|
|Xetra trading ready for MiFID II|
|December 4, 2017--Update for Deutsche Börse's T7 trading system/Regulatory requirements implemented|
As of today, Xetra trading is ready to meet the requirements of MiFID II, the European Markets in Financial Instruments Directive, which goes into effect at the beginning of 2018.
|MOVES-BNP Paribas asset management arm hires Lelief to ETF sales team|
|December 4, 2017--The asset management arm of BNP Paribas appointed Elodie Lelief to its ETF and indexed fund solutions sales team.|
|S&P 500 UCITS ETF with currency hedge launched by UBS Global Asset Management on Xetra|
|December 4, 2017--ETF tracks the performance of the 500 largest public US companies|
A new exchange traded fund (ETF) issued by UBS Global Asset Management has been tradable on Xetra and Börse Frankfurt since Monday.
|After NASDAQ, Moscow Stock Exchange is Planning to Introduce Bitcoin Futures|
|December 4, 2017--In August, the Russian exchange announced its infrastructural development to trade cryptocurrencies.|
|New Fidelity International smart beta ETF launched on Xetra|
|December 1, 2017--A new exchange traded fund (ETF) issued by Fidelity International has been tradable on Xetra and Börse Frankfurt since Friday. The new smart beta ETF enables investors to participate in the performance of large and medium-sized stock corporations from industrialised countries, characterised by high-dividend yields and high quality.|
|Euronext acquires 100 percent of Irish Stock Exchange in 'strategic' move|
|December 1, 2017--Pan-European exchange Euronext has announced its acquisition of 100 percent of the Irish Stock Exchange for €137 million ($162.48 million)
The transaction represents a move by the ISE to deepen ties with mainland Europe and an effort by Euronext to expand its revenue base and its position in debt and fund listings.
|Etixx Quick-Step team sponsor joins First Crypto ETF To Build Innovative Digital Asset Custody|
|December 1, 2017--The First Crypto ETF today announced it has entered into an agreement for an investment from janom, a private equity company based in Central Europe, to build a Digital Asset Custody.|
|New ETF Listing on Euronext-LYXOR EMU MIN VAR|
|December 1, 2017--Euronext is pleased to announce that MULTI UNITS LUXEMBOURG will list 1 new ETF on 05/12/2017:|
ETF Trading name: LYXOR EMU MIN VAR
ETF Symbol: MVMU
|Deutsche Boerse-Cash markets achieved the highest turnover since March 2015 with 154.2 billion euros|
|December 1, 2017--Increase of 24 per cent year-on-year|
With a turnover of €154.2 billion in November, Deutsche Börse cash markets achieved the highest turnover since March 2015 (November 2016: €124.7 billion).
|S&P Dow Jones Europe Index Dashboard|
|November 30, 2017--Summary
In a difficult month for European equities, the S&P Europe 350 fell 2.11%, erasing all the previous gains this quarter.
|Solactive launches Tradable European Factor Index Series exclusively licensed to Invesco PowerShares|
|November 30, 2017--Solactive is pleased to announce the launch of a family of European factor indices, which will be used as the reference indices for five Invesco PowerShares ETFs. Specifically, the Solactive Tradable European Factor Index Series includes five indices targeting strategies such as value, quality, low beta, price momentum, and earnings momentum.|
|Traders concerned with growth of passive investing|
|November 29, 2017--The second Trader Survey conducted by SIX Swiss Exchange assessed current trends in passive investing, its drivers and the potential effects on global markets.|
|Russian Economy Returns to Modest Growth in 2017, says World Bank|
|November 29, 2017--Russia's Recovery: How Strong are its Shoots?
The Russian economy has returned to modest growth-amidst positive global growth, a recovery in trade, rising oil prices, and growing macroeconomic stability-according to the World Bank's latest Russia Economic Report (no. 38 in the series), launched today in Moscow.
|ECB-Economic growth is supporting financial stability but markets are vulnerable to a sudden increase in volatility|
|November 29, 2017--Risks of a repricing of global risk premia remains significant
Bank profitability prospects still challenged by structural vulnerabilities
High private and public debt burdens could give rise to debt sustainability concerns in some countries
Financial stability risks partly mitigated by improved economic conditions
|Bank and FCA launch next phase of sterling Libor transition work|
|November 29, 2017--The Bank of England and the Financial Conduct Authority (FCA) are today announcing the next phase of work with market participants on Libor transition.|
|Xetra-Gold(R) celebrates 10th anniversary|
|November 29, 2017--Europe's largest physically-backed gold security|
Rapid increase in gold reserve to more than 170 tonnes
Bavaria and Hesse particularly like physical delivery of Xetra-Gold
|MiFID dark-trading loophole seen in EU deference to U.S. rules|
|November 29, 2017--European Union plans to allow traders to comply with MiFID II by trading on U.S. dark pools would "open up a large transatlantic loophole" in equity markets and undermine the law's goal of increasing transparency, according to a leading lawmaker in Brussels.|
|London Stock Exchange CEO Xavier Rolet to Resign Immediately|
|November 29, 2017--Rolet to resign immediately after weeks-long tussle with TCI
Chairman Brydon won't seek re-election in 2019; shares slide
|Monetary developments in the euro area: October 2017|
|November 28, 2017--Monetary developments in the euro area: October 2017
The annual growth rate of the broad monetary aggregate M3 decreased to 5.0% in October 2017, from 5.2% in September (revised from 5.1%).
|STOXX changes composition of benchmark indices|
|November 28, 2017--Results of the fourth regular quarterly review to be effective Dec. 18, 2017
STOXX Ltd., the operator of Deutsche Boerse Group's index business, and a global provider of innovative and tradable index concepts, today announced the new composition of STOXX Benchmarks and their sub and sector indices, among them the STOXX Europe 600 Index, STOXX North America 600 Index and STOXX Asia/Pacific 600 Index.
|Bank of England-Financial Stability Report, November 2017|
|November 28, 2017--The Bank of England Financial Stability Report, November 2017 is available.|
|MOVES-BNP Paribas Asset Management names head of UK institutional sales|
|November 27, 2017--BNP Paribas Asset Management, the investment management arm of BNP Paribas, appointed Philip Dawes head of institutional sales for the UK and Ireland.|
|Russian benchmark officially renamed the MOEX Russia Index|
|November 27, 2017--On 27 November 2017 the new name of the Russian stock market benchmark-MOEX Russia Index-officially came into effect. The index was formerly known as the MICEX Index.|
|Thomson Reuters Monday Morning Memo: Equity funds: European Darlings for October 2017|
|November 27, 2017--European Fund-Flow Trends, October 2017
October was the tenth consecutive month showing a positive picture for long-term mutual funds. European fund promoters enjoyed net inflows into equity funds (+€17.8 bn), followed by bond funds (+€15.3 bn), mixed-asset funds (+€9.5 bn), and alternative UCITS funds (+€2.7 bn) as well as real estate funds (+€0.2 bn).
|Five new PowerShares smart beta ETFs launched on Xetra|
|November 27, 2017--ETFs offer access to factor strategies applied to European stock corporations
Five new exchange traded funds (ETFs) issued by Invesco PowerShares have been tradable on Xetra and Börse Frankfurt since Monday, 27 November 2017.
|New iShares equity index ETF launched on Xetra|
|November 23, 2017--ETF offers access to biotechnology and pharmaceutical companies from the US|
A new exchange traded fund (ETF) issued by iShares has been tradable on Xetra and Börse Frankfurt since Thursday.
|BlackRock launches global aggregate bond ETF TER of 0.10%|
|November 23, 2017--BlackRock has expanded its fixed income range with the launch of the iShares Global Aggregate Bond UCITS ETF.|
|UBS Asset Management announces launch of new short-term emerging market bonds ETF|
|November 23, 2017--UBS Asset Management has launched the UBS ETF (LU) JP Morgan USD EM Diversified Bond 1-5 UCITS ETF (ISIN: LU1645385839). The new exchange-traded fund tracks the JP Morgan USD Emerging Markets Diversified 3% capped 1-5 Year Bond Index.|
|ECB-Account of the monetary policy meeting-25-26 October 2017|
|November 23, 2017--Account of the monetary policy meeting of the Governing Council of the European Central Bank, held in Frankfurt am Main on Wednesday and Thursday, 25-26 October 2017|
|Asset Manager Launches Europe's First Bitcoin Mutual Fund|
|November 22, 2017--A French asset manager has announced the launch of Europe's first mutual fund centered around bitcoin.|
|New Fidelity International smart beta ETF launched on Xetra|
|November 22, 2017--A new exchange traded fund (ETF) issued by Fidelity International has been tradable on Xetra and Bö'rse Frankfurt since Wednesday. The new smart beta ETF enables investors to participate in the performance of stock corporations from the US characterised by high dividend yields and high quality.|
|Deutsche Bank strategist tells investors to avoid bitcoin|
|November 22, 2017--Deutsche Bank (DBKGn.DE) has joined the ranks of those warning about the virtual currency bitcoin as an investment.|
|European Semester Autumn Package: Striving for sustainable and inclusive growth|
|November 22, 2017--Commission sets out EU's economic and social priorities for the year ahead, gives policy recommendation for the euro area and completes the assessment of euro area Member States' Draft Budgetary Plans.|
|ESMA updates Q&A on MAR|
|November 21, 2017--The European Securities and Markets Authority (ESMA) has updated its Questions & Answers (Q&A) document regarding the implementation of the Market Abuse Regulation (MAR).|
|SSGA hires Nordic head of SPDR ETFs|
|November 21, 2017--State Street Global Advisors (SSGA) has appointed Marcus Miholich as its head of Standard & Poors depositary receipt (SPDR) exchange-traded funds (ETFs) for the Nordic region.|
|European Commission-Reports of the Expert group on corporate bond markets|
|November 21, 2017--These reports present 22 recommendations to foster the development of corporate bonds in Europe. They were published by the Commission Expert group on corporate bond markets in November 2017.|
|Xetra trading celebrates 20th anniversary|
|November 20, 2017--Introduction of fully-electronic trading revolutionised exchange trading/Launched on 28 November 1997 with 109 equities|
Xetra trading on the Frankfurt Stock Exchange is 20 years old; trading was launched at 8.30 a.m. on "X-day", 28 November 1997.
|Thomson Reuters Monday Morning Memo: Review of the European ETF Market, October 2017|
|November 20, 2017--The promoters of ETFs enjoyed net inflows for October. The assets under management in the European ETF industry (€621.9 bn) increased for October, up from €600.9 bn at the end of September. The increase of €20.9 bn for October was mainly driven by the performance of the underlying markets (+€14.4 bn), while net sales contributed €6.6 bn to the assets under management in the ETF segment.|
|PowerShares Euro Corporate Bond UCITS ETF launched on Xetra|
|November 20, 2017--ETF provides access to fixed-income corporate bonds|
A new exchange traded fund (ETF) from the Invesco PowerShares product family has been tradable via Xetra and Börse Frankfurt since Monday.
|HANetf, Europe's first full service third-party ETF platform, completes oversubscribed seed funding round|
|November 20, 2017--HANetf expects to support more than 100 ETFs in the next 5-7 years
Recent acquisitions of Source and ETF Securities' ETF business leaves HANetf as Europe's only independent ETF white label provider
|Invesco PowerShares launches fixed income ETF trio|
|November 20, 2017--Invesco PowerShares has added three ETFs to its fixed income suite, in response to demand from European investors.|
|Asset Managers to Slash Sell-Side Research After MiFID II, Survey Shows|
|November 20, 2017--Asset managers will source significantly less research from banks and brokers after MiFID II is implemented, the CFA Institute, a London-based industry body of investment professionals, found in a survey launched on Monday.|
|Ultumus-Ethereum ETN cross-listed into Germany|
|November 20, 2017--Ethereum ETN has been cross-listed into Germany
XBT's ethereum tracking ETN (COINETH) is gaining momentum, with German brokers cross-listing it into their secondary market. COINETH is unsecured debt tracking the spot price of ethereum.
|ESMA updates its EMIR Q&A|
|November 20, 2017--The European Securities and Markets Authority (ESMA) has issued today an update of its Q&A on practical questions regarding the European Markets Infrastructure Regulation (EMIR).|
|Banks eye synthetic securitisation to smooth IFRS 9 loan-loss volatility|
|November 20, 2017--New structures would help mitigate estimated 44% increase in loan-loss provisions from revised accounting framework|
|Euro area investment fund statistics: third quarter of 2017|
|November 20, 2017--In the third quarter of 2017 the outstanding amount of shares/units issued by investment funds other than money market funds was €10,921 billion, which is €269 billion higher than in the second quarter of 2017.|
|Royal Bank of Scotland to launch robo-advice under NatWest brand|
|November 17, 2017--Automated online service is aimed at customers who lack confidence to invest alone|
Royal Bank of Scotland is launching robo-advice for more than 5m customers as banks return to the investment market after a string of fines and as regulators attempt to plug the UK's wide "advice gap".
|ESMA updates Q&A on CSDR implementation|
|November 17, 2017--The Securities and Markets Authority (ESMA) has published today an update of its Questions and Answers (Q&As) regarding the implementation of the Central Securities Depository Regulation (CSDR).|
|ESMA consults on calculation of derivative positions|
|November 17, 2017--The European Securities and Markets Authority (ESMA) has today published for public consultation future guidelines on the calculation of derivative positions by trade repositories (TRs) authorised in the European Union under the European Market Infrastructure Regulation (EMIR).|
|New ETF Listing on Euronext-2 BNP Paibas ETFs|
|November 17, 2017--Euronext is pleased to announce that BNP PARIBAS EASY will list 2 new ETFs on 21/11/2017:|
ETF Trading name: BNPP EASY KLDUSETF
ETF Symbol: EKUS
Venue: Euronext Paris
Underlying index: MSCI KLD 400 Social (NTR)
TER (%): 0,3
|IMF Working Papers-Credit Growth and Economic Recovery in Europe After the Global Financial Crisis|
|November 17, 2017--Summary:|
This paper reviews the empirical relationships between credit growth, economic recovery, and bank profitability in Europe after the global financial crisis (GFC).
|IMF Country Report-Sweden: Selected Issues|
|November 17, 2017--HIGH HOUSEHOLD SAVINGS IN SWEDEN1|
1. Boosted by a large increase in savings after the global financial crisis, Swedish households save at one of the highest rates among advanced economies. The gross household saving rate averaged some 17 percent since the global financial crisis, increasing by 7.5 percentage points over its pre-crisis level-a much stronger increase than seen in any other advanced economy.2
|IMF Staff Concludes Visit to Russia|
|November 17, 2017--"A cyclical recovery in Russia is gaining pace after a two-year recession, with growth expected to reach around 2 percent this year, supported by higher oil prices and easier domestic financial conditions.|
|Theodor Weimer appointed as new CEO of Deutsche Borse AG|
|November 16, 2017--Theodor Weimer has been appointed for three years as new Chief Executive Officer at today's meeting of the Supervisory Board of Deutsche Börse AG. In January, 57-year-old Weimer will take over from CEO Carsten Kengeter who leaves the company at the end of 2017.|
|Eurex launches new FI hedging tools|
|November 16, 2017--Following the introduction of corporate bond futures, Eurex-a part of Deutsche Börse Group-once again acts as first mover in the fixed income derivatives markets.|
|Flow Traders releases October 2017 ETP market volumes|
|November 16, 2017--Flow Traders N.V. ("Flow Traders") (Euronext: FLOW), today releases the monthly ETP (Exchange Traded Products) market data for the month October 2017. This refers to general market data only.|
|European market watchdog steps up scrutiny of closet trackers|
|November 16, 2017--National regulators asked to collect data on high-fee funds that track market indices|
|IMF Working Papers-Fiscal Spillovers in the Euro Area: Letting the Data Speak|
|November 15, 2017--Summary:|
We estimate a panel VAR model that captures cross-country, dynamic interlinkages for 10 euro area countries using quarterly data for the period 1999-2016. Our analysis suggests that fiscal spillovers are significant and tend to be larger for countries with close trade and financial links as well, as for fiscal shocks originating from larger countries.
|ESMA updates its MiFID II Q&As on transparency|
|November 15, 2017--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) regarding transparency and market structure issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR)|
|ESMA updates MiFID II Q&A on market structure issues|
|November 15, 2017--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) regarding market structure issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).|
|Invesco PowerShares hires first Europe-based PM|
|November 15, 2017--Invesco PowerShares has hired its first Europe-based in-house portfolio manager, the company has announced.|
|Invesco PowerShares Hires EMEA Portfolio Manager|
|November 15, 2017--Invesco PowerShares, the world's fourth-largest ETF provider, has hired Raphael Stern as Head of Portfolio Management EMEA.|
|ETF Securities Sells Platform to LGIM|
|November 15, 2017--ETF Securities Limited has agreed to sell its European Exchange Traded Fund platform, known as Canvas, to Legal & General Investment Management (Holdings) Limited (LGIM).|
|Official Statistics: Forecasts for the UK economy: November 2017|
|November 15, 2017--A comparison of independent forecasts for the UK economy in November 2017.|
Forecasts for the UK economy is a monthly comparison of independent forecasts.
|OECD-Economic Survey of Switzerland 2017|
|November 14, 2017-The Swiss economy has shown considerable resilience to shocks, but economic growth remains slow, and per capita income levels still hover at levels attained before the global economic crisis.|
|FLOW TRADERS ASSESSES NEW CAPITAL REQUIREMENTS|
|November 14, 2017--The Dutch Central Bank (DNB) informed Flow Traders N.V. ("Flow Traders" or "the Company") (Euronext: FLOW) yesterday evening about its decision to amend capital requirements for investment firms dealing on their own account.|
|Clearstream's monthly report-Digitization and Fintech trends set to further increase speed of innovation|
|November 14, 2017--New technological developments in the fields of Artificial Intelligence (AI), Big Data, Robotics, Blockchain and the like, as well as the rise of Fintechs have increased the speed of change in the financial industry.|
|Consumer warning about the risks of investing in cryptocurrency CFDs|
|November 14, 2017--Contracts for differences (CFDs), including financial spread bets, with cryptocurrencies as the underlying investment are increasingly being marketed to consumers.|
|ESMA updates MiFID II Q&A on commodity derivatives|
|November 14, 2017--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) regarding commodity derivatives under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).|
|ESMA updates Q&A on MiFIR data reporting|
|November 14, 2017--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) regarding data reporting under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).|
|DB-Synthetic Equity & Index Strategy-ETF Monthly Europe-Robust Equity flows across most regions|
|November 13, 2017--Data in this report is as of 31st October 2017.|
European ETP Monthly Highlights (Assets, Flows & Launches):
Assets & Flows: Assets rose by €22bn MoM (Total Assets €651bn), Net inflows +€7.6bn (YTD +€82.8bn)
10 New Launches: 6 Equity, 2 Fixed Income, 1 Commodity ETF and 1 Commodity ETC.
|IMF-Europe: Engine for Global Trade, but Should Prepare for Rainy Day|
|November 13, 2017--Recovery in Europe has gained speed: overall real GDP growth is projected at 2.4 percent in 2017, faster than was expected in April 2017, and up from 1.7 percent in 2016.|
|ESMA highlights ICO risks for investors and firms|
|November 13, 2017--The European Securities and Markets Authority (ESMA) has today issued two Statements on Initial Coin Offerings (ICOs), one on risks of ICOs for investors and one on the rules applicable to firms involved in ICOs.|
|Smart beta allocations to rise by a quarter in 3 years: Invesco|
|November 13, 2017--Faced with an increasingly difficult investment environment, a growing number of investors are looking to significantly increase allocations to smart beta strategies, according to a survey conducted by Invesco PowerShares.|
|Monday Morning Memo: Will ESG investing become the new normal?|
|November 13, 2017--Even though there is a lot of talk in Europe around sustainable investments, also known as using ESG (environmental/social/governance) criteria, it seems the majority of investors still do not invest in sustainable products. In this regard one needs to question why European investors are so reluctant to use sustainable investments.|
|SIX Swiss Exchange ETF Market Report: 3rd quarter 2017|
|November 13, 2017--Today, SIX Swiss Exchange published the new ETF Market Report. It provides a broad insight in trading activity, trends and changes in the Swiss ETF market. The downward trend in trading volumes on the Swiss ETF market continued in Q3. The CHF 24.7 billion traded was 13.67% lower than the previous quarter's value. However, the year-on-year decline was relatively minor at 3.58%.|
|ECB-Euro Area Securities Issues Statistics: September 2017|
|November 13, 2017--The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 1.1% in September 2017, compared with 1.3% in August.|