| Redefining Europe's economic sovereignty-continued | |||||
| June 25, 2019--This Policy Contribution delves into the position of the EU in the current global order. China and the United States increasingly trying to gain geopolitical advantage using their economic might. The authors examine the specific problems that China and the US pose for European economic sovereignty, and consider how the EU and its member states can better protect European economic sovereignty. | |||||
| Europeans like to believe the European Union has the collective economic size and capacity to determine its own economic destiny. But the behaviour of others global powers is increasingly calling this ability into question. China and the United States, especially, do not separate economic interests from geopolitical interests in the same way the EU does. They are increasingly using economic connections, from cyberspace to financial links, to gain geopolitical advantage or to serve geopolitical goals. | |||||
| Source: bruegel.org | |||||
| Europe ETP News |
| Non-performing loans' legacy versus secondary markets | |||
| December 10, 2019-Eleven years since the start of Europe's financial crisis, and the legacy of non-performing loans in the EU, though much smaller, is still a live issue for some member states. No doubt success has been achieved as the asset quality of banks in the EU area has improved reaching 3% as of June 2019 (EBA Risk Dashboard-Q2 2019), compared with its peak of approximately 7.5% in 2012 (EBF). | |||
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| MiFID II/MiFIR Review Report No. 1 On the development in prices for pre-and post-trade data and on the consolidated tape for equity instruments | |||
| December 5, 2019--MiFID II/MiFIR provide for a number of review reports requiring the European Commission (EC), after consulting ESMA, to present a report to the European Parliament and the Council on various provisions. | |||
| read more | |||
| EU Overhaul Has Failed to Lower Data Costs, Top Regulator Says | |||
| December 5, 2019--ESMA seeks consolidated tape of equity market transactions
Regulator publishes review of the sweeping MiFID II shake-up. Europe's sweeping market reforms have failed to lower the cost of data or improve transparency, and now regulators want to take another whack at solving the problem. | |||
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| ESMA updates its Q&As on MiFID II and MiFIR transparency and market structures topics | |||
| December 5, 2019--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers regarding market structures and transparency issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). | |||
| read more | |||
| Sygnum and Amun launch innovative digital asset index for the next generation Internet-the Internet of Value | |||
| December 5, 2019--Sygnum and Amun launch innovative digital asset index for the next generation Internet-the Internet of Value December 5, 2019--A new Exchange Traded Product (ETP) is listed on the SIX exchange to track the Amun Sygnum Platform Winners Index. This ETP is a useful vehicle to gain passive exposure to foundational blockchain protocols, as well as a convenient, safe entry point for investors new to digital assets. Sygnum, the world's first digital asset bank, in collaboration with Amun AG, the largest provider of Exchange Traded Products in the digital asset industry, have launched a new digital asset index. | |||
| read more | |||
| ESMA updates Q&AS on MiFID II and MiFIR investor protection and intermediaries | |||
| December 4, 2019--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR). The update includes Q&As on costs and charges and product intervention | |||
| read more | |||
| ESMA UPDATES ITS Q&As RELATING TO THE PROSPECTUS REGULATION | |||
| December 4, 2019-The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers on the Prospectus Regulation with two new Q&As. | |||
| read more | |||
| ESMA updates AIFMD Q&A | |||
| December 4, 2019--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers on the application of the Alternative Investment Fund Managers Directive (AIFMD) | |||
| read more | |||
| UK official holdings of international reserves: November 2019 | |||
| December 4, 2019--This release details movements in the international reserves of gold and assets held by the UK government. | |||
| read more | |||
| Gemini Hires Former Starling Bank Founder as Managing Director of Europe | |||
| December 4, 2019--Gemini, the cryptocurrency exchange co-founded by Tyler and Cameron Winklevoss, is tapping a digital bank founder to manage its European operations, the company announced Wednesday. | |||
| read more | |||
| Institutions Are Showing Interest in ETP Tied to Binance Coin, Amun Says | |||
| December 3, 2019---Swiss crypto investment product provider Amun says it has received significant institutional interest in its exchange-traded product (ETP) tied to the Binance Coin (BNB) exchange token. | |||
| read more | |||
| ESMA updates the CSDR Q&As | |||
| December 3, 2019--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) regarding the implementation of the Central Securities Depositories Regulation (CSDR).
The updated Q&As provide answers to questions regarding practical issues on the implementation of the new CSDR regime. | |||
| read more | |||
| ESMA updates its BMR Q&As | |||
| December 3, 2019--The European Securities and Markets Authority (ESMA) has issued today an update of its Question and Answers (Q&As) on the European Benchmarks Regulation (BMR).
The new Q&A's provide clarification on the following issues: | |||
| read more | |||
| Britain's cheapest ever DIY pension: Vanguard finally reveals its Sipp that charges just 15p for every 100GBP invested | |||
| December 2, 2019--Vanguard to launch new Sipp with an annual charge of 0.15% in 2020
It claims it will be the lowest-cost self-invested personal pension on the market | |||
| read more | |||
| Invesco revamps UK equity leadership after outflows | |||
| November 29, 2019-- Once popular products are now UK's worst selling funds group after chronic underperformance Invesco has appointed a new executive to join under-pressure fund manager Mark Barnett as the company's UK equity business seeks to... | |||
| read more | |||
| Monetary developments in the euro area: October 2019 | |||
| November 28, 2019--Annual growth rate of broad monetary aggregate M3 stood at 5.6% in October 2019, unchanged from previous month (revised from 5.5%)
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, increased to 8.4% in October from 7.9% in September. | |||
| read more | |||
| ESMA sees continued high market risk amid deteriorating economic fundamentals | |||
| November 28, 2019--The European Securities and Markets Authority (ESMA), the EU's securities regulator, today publishes its latest risk dashboard for the European Union's securities markets, covering the third quarter of 2019. | |||
| read more | |||
| Adapting to a new normal in European asset management | |||
| November 26, 2019--Structural shifts are reshaping Europe's asset-management,landscape. For individual firms, there is no single winning formula for success-but the response must be proactive and bold.
Asset-management industry economics in Western Europe have remained relatively resilient, buoyed by the short duration of periods of downside market performance and asset values remaining near the current cycle's highs. | |||
| read more | |||
| IMF Working Paper-Breaking the Bank? A Probabilistic Assessment of Euro Area Bank Profitability | |||
| November 22, 2019--Summary: This paper explores the determinants of profitability across large euro area banks using a novel approach based on conditional profitability distributions. Real GDP growth and the NPL ratio are shown to be the most reliable determinants of bank profitability. | |||
| read more | |||
| ECB-Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 23-24 October 2019 | |||
| November 21, 2019--1. Review of financial, economic and monetary developments and policy options
Financial market developments Mr Cœuré reviewed the latest financial market developments. Since the Governing Council's last monetary policy meeting on 11-12 September 2019, the prospect of a breakthrough in the trade negotiations between the United States and China, as well as declining fears of a "no-deal" Brexit, had helped to underpin global market sentiment. | |||
| read more | |||
| FTGP launches factor based fixed income Ucits ETF | |||
| November 21, 2019--First Trust Global Portfolios, the affiliate of First Trust Advisors LP, has launched a fund using carry and value risk premia to generate returns from government bonds. | |||
| read more | |||
| European Central Bank ponders digital currency launch | |||
| November 21, 2019--The European Central Bank (ECB) has confirmed that it is investigating how a European public digital currency could work and whether it is desirable, with its conclusions expected next year. | |||
| read more | |||
| ESMA Newsletter-N0.9 | |||
| November 20, 2019--The ninth edition of ESMA's newsletter takes a closer look at the new website section on sustainable finance and SFTR, highlights the full list of ESMA staff speaking appearances and catch up on publications from October and early November. | |||
| read more | |||
| ECB-Euro area investment fund statistics: third quarter of 2019 | |||
| November 20, 2019--In the third quarter of 2019 the outstanding amount of shares/units issued by investment funds other than money market funds was €12,537 billion, €446 billion higher than in the second quarter of 2019. | |||
| read more | |||
| Solactive releases new Euro IG Corporate Index with ESG Integration developed by SD-M | |||
| November 20, 2019--ESG remains the big topic in the year of 2019 since more and more investors emphasize this exciting and future-oriented topic. The ESG incorporation methodologies are manifold, and for each purpose, ETF providers and asset managers can find their benchmark. | |||
| read more | |||
| Deutsche Börse, Swisscom and partners successfully settle securities transactions via tokens in Switzerland | |||
| November 19, 2019--Proof of concept lays the foundation for a leap in efficiency in post-trade services/Settlement of securities transactions using different DLT protocols
Deutsche Börse, Swisscom and the three partners Falcon Private Bank, Vontobel and Zürcher Kantonalbank have succeeded in jointly settling securities transactions with tokenised shares via Distributed Ledger Technology (DLT). | |||
| read more | |||
| Euronext, SIX Group square up for battle for Madrid bourse | |||
| November 18, 2019--Pan-European stock market operator Euronext (ENX.PA) and Switzerland's SIX sparked a bidding war for Spain's Bolsas y Mercados Espanoles (BME) (BME.MC) on Monday, with both trying to snap up one of Europe's last standalone stock exchanges. | |||
| read more | |||
| New SPDR-ETF on Xetra: Emerging Markets Government Bonds | |||
| November 18, 2019--Since Monday a new Exchange Traded Fund of State Street Global Advisors is tradable via Xetra and Frankfurt Stock Exchange. The SPDR Bloomberg Barclays Emerging Markets Local Bond UCITS ETF offers investors the opportunity to participate in the performance of government bonds issued by emerging markets. | |||
| read more | |||
| ESMA updates its Q&As on the Securitisation Regulation | |||
| November 15, 2019--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today updated its Questions and Answers (Q&As) on the Securitisation Regulation (Regulation 2017/2402). | |||
| read more | |||
| IMF Staff Country Report-Greece: Selected Issues | |||
| November 15, 2019--REFORMS, LABOR MARKET DYNAMICS, AND COMPETITIVENESS1 In the lead-up to the crisis, Greece's economy became increasingly uncompetitive. By 2009, the real exchange rate had appreciated significantly, and the current account deficit hit record highs. A series of program-era policies helped to partially reverse this trend, including labor market policies that cushioned the effect of the crisis on employment and brought unit labor costs broadly in line with trading partners. | |||
| read more |