EBA assesses risks and opportunities from Fintech and its impact on incumbents business models-continued

July 3, 2018--The European Banking Authority (EBA) published today the first products of its FinTech Roadmap, namely (i) a thematic report on the impact of FinTech on incumbent credit institutions' business models and (ii) a thematic report on the prudential risks and opportunities arising for institutions from FinTech.
Both reports fall under the wider context of the newly established EBA FinTech Knowledge Hub and aim to raise awareness within the supervisory community and the industry on potential prudential risks and opportunities from current and potential FinTech applications and understand the main trends that could impact incumbents' business models and pose potential challenges to their sustainability.

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view the EBA Report on prudential risks and opportunities arising for institutions from FinTech

view the EBA Report on the impact of Fintech on incumbent credit institutions' business models

Source: EBA


Europe ETP News
Mifid II impact on small and mid-cap brokers fuels consolidation talk
August 18, 2018--New European investment research rules trigger sharp drop in commissions.
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New WisdomTree-ETF on Xetra maps diversified commodity basket
August 17, 2018--Since Friday, a new Exchange Traded Fund from the issuer WisdomTree is tradable via Xetra and the Frankfurt Stock Exchange.
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Official Statistics: Forecasts for the UK economy: August 2018
August 16, 2018--A comparison of independent forecasts for the UK economy in August 2018.
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New SPDR-ETF on Xetra: US Companies with focus on Communications Services
August 16, 2018--Since Thursday, a new Exchange Traded Fund of the issuer State Street Global Advisors is tradable via Xetra and the Frankfurt Stock Exchange.
The SPDR S&P U.S. Communication Service Select Sector UCITS ETF gives investors the opportunity to participate in the performance of communications service providers from the USA.
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STOXX licenses fully automated Blockchain Index to Coincapital
August 14, 2018--STOXX Ltd., the operator of Deutsche Boerse Group's index business and a global provider of innovative and tradable index concepts, has licensed the STOXX(R) Yewno Developed Markets Blockchain Index to Toronto, Canada-based Coin Capital Investment Management Inc. (Coincapital).
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Thomson Reuters-Monday Morning Memo: Has ESG gone mainstream?
August 13, 2018--The announcement that the world's largest fund management company-BlackRock-will require its fund managers to consider environmental, social, and governance (ESG) criteria in their investment decision-making process has been discussed widely in the trade press over the last few days.
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Environmental risk heats up for pension investors
August 12, 2018--Pension funds across Europe are belatedly waking up to the threats to their investment portfolios posed by climate change, according to Mercer.
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Franklin Templeton drops out of European top 20
August 11, 2018--Investors flee New York-listed group over performance concerns
Franklin Templeton has fallen out of a list of the 20 biggest mutual fund managers in Europe in a huge blow for the $734bn investor that once ranked among the continent's most popular investment houses.
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Treasury gets 'no-deal' Brexit plans ready for City
August 10, 2018--The Treasury has said that it will soon start putting in place contingency arrangements in case Britain leaves the European Union without a deal for the financial services industry.
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Legal & General to launch European ETFs by year end
August 9, 2018--More and more big-name firms are emerging to do battle for assets in Europe's booming market for exchange traded funds
Legal & General Investment Management, the UK's largest fund manager, will begin chasing money in Europe's fiercely competitive market for exchange traded funds before the end of the year.
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Unscheduled free-float adjustment of Grammer AG in SDAX
August 9, 2018--Changes to be effective as of 14 August 2018
On Thursday, Deutsche Börse announced an unscheduled change to the SDAX index. Due to acquisition of Grammer AG (DE0005895403) by Jiye Auto Parts GmbH the free float of Grammer AG changed by more than 10 percentage points.
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Lyxor-ETF Money Monitor-July 2018-ETF flows slow as sentiment reverses
July 9, 2018-European ETF market flows slowed slightly in June, with net new assets falling to 757m from the €1.1bn we saw in May. Sentiment reversed yet again, with fixed income ETFs attracting most of the inflows (€1.1bn).
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ESMA updates validation rules under EMIR
August 9, 2018--The European Securities and Markets Authority (ESMA) has updated today its validation rules regarding the European Markets Infrastructure Regulation (EMIR) with regards to the revised technical standards on reporting under Article 9 of EMIR.
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Brexit Novations Raise Questions Over EMIR, Lifecycle Events
August 9, 2018--Market participants are repapering and novating their current derivatives contracts to an EU27 subsidiary due to the ongoing uncertainty around Brexit-but are finding new issues every day.
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https://www.esma.europa.eu/press-news/esma-news/esma-issues-clarifications-clearing-obligation-and-trading-obligation-pension
August 8, 2018--The European Securities and Markets Authority (ESMA) has issued today an updated statement on the clearing obligation and trading obligation for pension scheme arrangements (PSAs), with the objective to avoid, to the extent possible, disruption to certain PSAs who may face potential challenges clearing their OTC derivative contracts and trading them on trading venues on 17 August 2018, when the current, and final, exemption from the clearing obligation under EMIR expires.
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ESMA updates equity derivatives, equity and equity-like instruments' transitional transparency calculations for MiFID II/ MiFIR
August 6, 2018--The European Securities and Markets Authority (ESMA) has published today an updated version of the MiFID II/MiFIR transitional transparency calculations (TTC).
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Monday Morning Memo: Is the trend toward ETFs in Europe over?
August 6, 2018--The fund ecosystem in Europe has become accustomed to new all-time highs and exceptional growth rates in the European ETF industry. But, it is not surprising that some market observers are starting to ask whether the trend toward ETFs in Europe is now over, since ETF flows have seemed to be lower over the course of first half 2018.
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Borsa Italiana Listings Notice-Amundi
August 6, 2018--Borsa Italiana is pleasured to welcome on ETFplus market 1 new ETF issued by Amundi:
AMUNDI US CORP SRI UCITS ETF DR ¿USD (LU1806495575)
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Deutsche Bank head of EMEA equity research leaves
August 3, 2018--Deutsche Bank AG (DBK.XE) said Thursday that its head of equity research for Europe, Middle East and Africa, Paul Reynolds, has left the company.
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National Statistics: UK official holdings of international reserves: July 2018
August 3, 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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Borsa Italiana's ETFplus market sees strong second quarter Aug 03 2018
August 3, 2018--ETFplus market saw a 7.1% increase compared to the same period last year
52 new instruments listed in the second quarter of 2018: 50 ETFs and 2 open funds
A total of 1276 instruments available on ETFplus at the end of June
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ESMA-Consultation Paper no.6 on the Clearing Obligation under EMIR
August 3, 2018--All interested stakeholders are invited to respond to this consultation paper. In particular, responses are sought from financial and non-financial counterparties of OTC derivative transactions as well as central counterparties (CCPs) and clearing members.
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HM Treasury- The economic value of data: discussion paper
August 2, 2018--A discussion paper on the economic value of data and the challenges to address to strengthen the UK's position as a world leader in data-driven innovation.
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Boerse Stuttgart Group Creates End-To-End Infrastructure For Digital Assets
August 2, 2018--In Addition To BISON, There Will Be An ICO Platform, A Trading Venue And Custody For Cryptocurrencies
Services Along The Value Chain Are Offered Under One Roof
Boerse Stuttgart Group is creating an end-to-end infrastructure for digital assets.
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Environmental risk heats up for pension investors
August 2, 2018--Pension funds across Europe are belatedly waking up to the threats to their investment portfolios posed by climate change.
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Strong month for Eurex' Equity segment
August 2, 2018--In July, Eurex, Europe's largest derivatives exchange and part of Deutsche Börse Group, has seen strong demand for its equity products. Traded equity contracts were up by 76 percent to 23,790,806 from 13,506,099 in July 2017.
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Boerse Stuttgart generates turnover in excess of EUR 5.4 billion in July
August 1, 2018--Trading volume of debt instruments (bonds) and investment fund units up on previous month
According to its order book statistics, Boerse Stuttgart generated turnover of more than EUR 5.4 billion in July 2018.
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Borsa Italiana Listings Notice-4 WisdomTree ETFs
August 1, 2018--Borsa Italiana is pleasured to welcome on ETFplus market 4 new ETF issued by WisdomTree:
WisdomTree US Multifactor UCITS ETF ACC (IE00BD8ZD313)
WisdomTree US Multifactor UCITS ETF (IE00BD8ZCY59)
WisdomTree Japan SmallCap Div UCITS ETF (IE00BFXYK923)
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EBA publishes final draft technical standards on risk retention for securitisation transactions
July 31, 2018--The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) specifying the requirements for originators, sponsors and original lenders related to risk retention as laid down in the new EU securitisation framework (STS Regulation).
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EBA publishes final draft technical standards defining the homogeneity of the underlying exposures in securitisation
July 31, 2018--The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) setting out conditions for securitisation to be deemed homogeneous. Homogeneity is one of the crucial requirements for a securitisation transaction to be assessed as simple, transparent and standardised ('STS') and to be eligible for more risk-sensitive risk weights under the new EU securitisation framework.
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Concerns grow as colour drains swiftly from eurozone economy
July 31, 2018--Concerns over a sharp slowdown in the eurozone are rising with its economy growing at its weakest rate in two years, reversing a bumper 2017.
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ETFGI reports that ETFs and ETPs listed in Europe gathered net inflows of US$661 million during June 2018, the lowest net inflows since May 2015
July 31, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in Europe gathered net new assets of US$661 million during June 2018, marking the 45th consecutive month of net inflows.
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S&P Dow Jones Indices Europe Dashboard
July 31, 2018--Summary
European equities posted steady gains in July as last month's focus on trade tensions and political risk largely gave way to earnings figures, economic data, and central bank guidance. The S&P Europe 350 gained 3.22%, with nearly all countries contributing positively to returns.
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IMF Country Focus Greece: Much Progress, but Action Needed to Address Crisis Legacies, Boost Inclusive Growth
July 31, 2018--Greece has successfully eliminated its extraordinarily high fiscal and current account deficits, and restored growth. It must now take action to address crisis legacies and boost inclusive growth, says the IMF in its annual health check of the country's economy.
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iSTOXX Developed Markets B.R.AI.N. Index licensed to Coincapital
July 31, 2018--STOXX Ltd., the operator of Deutsche B&oum;erse Group's index business and a global provider of innovative and tradable index concepts, has licensed the iSTOXX Developed Markets B.R.AI.N. Index to the Canadian Coin Capital Investment Management Inc (Coincapital).
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Jane Street Chooses Amsterdam for Post-Brexit ETF Trading Base
July 30, 2018--Europe's second-largest ETF trader already employs 5 in city.
Amsterdam is becoming a center for traders and trading venues
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ESMA updates the Questions and Answers on ESMA's temporary product intervention measures
July 30, 2018--The European Securities and Markets Authority (ESMA) has today updated 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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ESMA finds shortcomings in national supervision of efficient portfolio management by UCITS
July 30, 2018--The European Securities and Markets Authority (ESMA) has found that national regulators need to improve their supervision of Undertakings for Collective Investments in Transferable Securities (UCITS) engaging in efficient portfolio management techniques (EPM).
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Monday Morning Memo: Have European fund investors started to change their asset allocation?
July 29, 2018--Looking at the headline figures, first half 2018 could be considered a business-as-usual period for the European fund industry, since the assets under management (+€10.7 tr) increased in the first and second quarters of the year. But a closer look at the underlying trends shows that the recent geopolitical uncertainty and discussions of possible new tariffs in the U.S., which may result in a trade war, caused investors to change their asset allocations.
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Euro area economic and financial developments by institutional sector: first quarter of 2018
July 27, 2018--Euro area economic and financial developments by institutional sector: first quarter of 2018
Euro area net saving was higher in the first quarter of 2018, compared to the first quarter of the previous year. Total euro area non-financial investment (net) increased to 4.3% of net disposable income (compared with 3.8% a year ago), as increased investment by households and non-financial corporations was only partly offset by negative net investment of government.
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New ETF Listing on Euronext-
July 27, 2018--Euronext is pleased to announce that Amundi Asset Management will list 1 new ETF on 31/07/2018 :
ISIN: LU1437017350
ETF Trading name: AMUNDI MSCI EM DR
ETF Symbol: AEME
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FLow Traders Reports 2Q18 NTI 53.8M euro, On Target To Achieve Record Year
July 27, 2018-- Flow Traders N.V. (Euronext: FLOW) today released its unaudited 2Q18 results. The highlights for the period are as follows:
NTI reached €53.8m in 2Q18, against € 213.2m in 1Q18 and € 46.7m in 2Q17. 1H18 NTI reached €266.9m and is on track to lead to a record year
Fixed costs grew 0.8% Q-o-Q, leading to fixed cost growth in 1H18 of 4.1% Y-o-Y
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IMF Staff Country Reports France: Selected Issues
July 26, 2018--CORPORATE DEBT IN FRANCE1
France's corporate debt has risen significantly since the global financial crisis and is among the highest in advanced economies, reflecting mainly an increase in intercompany loans and bonds. The increase in debt has financed real investments, as well as acquisition of financial assets and extension of intercompany loans.
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ECB-Monetary policy decisions
July 26, 2018--At today's meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively.
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Monetary developments in the euro area: June 2018
June 25, 2018--Annual growth rate of broad monetary aggregate M3 increased to 4.4% in June 2018 from 4.0% in May
Annual growth rate of narrower aggregate M1, comprising currency in circulation and overnight deposits, stood at 7.4% in June, compared with 7.5% in May
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EBA publishes its assessment of European Secured Notes
July 24, 2018--The European Banking Authority (EBA) published today a report presenting the outcome of its assessment to the European Commission's call for advice on the European Secured Notes (ESNs).
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Monday Morning Memo: European Fund-Flow Trends June 2018-Negative market sentiment takes a toll on mutual funds
July 23, 2018--European investors pulled back further from long-term mutual funds as the market environment and general sentiment turned negative. As a consequence, June was the second month posting net outflows from long-term mutual funds after 16 consecutive months showing net inflows.
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Canada has high levels of well-being and solid growth but trade tensions and housing market pose risks while inclusiveness could be improved
July 23, 2018--Canada is one of the OECD economies delivering the best outcomes for its citizens, according to a new OECD report presented in Ottawa today by OECD Chief of Staff and G20/G7 Sherpa Gabriela Ramos. Canada scores highly in all dimensions of the OECD's Better Life Index, especially in regards to self-reported well-being, personal security and health status.
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New SPDR-ETF Launched on Xetra: Bond ETF Trades Emerging Market Government Bonds in Local Currency
June 23, 2018--Since Monday, a new exchange traded fund from State Street Global Advisors is tradable on Xetra and the Frankfurt Stock Exchange.
The SPDR Bloomberg Barclays Emerging Markets Local Bond UCITS ETF (Acc) gives investors access to liquid government bonds issued by emerging markets in their local currency.
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Opus makes ETF debut with actively managed US small-cap ETF
July 23, 2018--Opus Capital Management has become the latest US investment advisor to enter the ETF space with the launch of the Opus Small Cap Value Plus ETF (OSCV US) on NYSE Arca.
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ESMA updates UCITS and AIFMD Q&As
July 23, 2018--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers on the application of the Undertakings for the Collective Investment in Transferable Securities Directive (UCITS) and the Alternative Investment Fund Managers Directive (AIFMD).
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SIX Swiss Exchange-ETF Market Report: 2nd quarter 2018
July 23, 2018--This report provides detailed figures regarding the performance of the ETF segment of SIX.
In Q2 2018, demand on the Swiss ETF market eased, as the latest ETF Market Report[pdf] shows. As a result, trading turnover fell to CHF 25.4 billion compared to the previous quarter. Following a very strong Q1, investors were more cautious, in particular with equity ETFs.
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