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Volatility spikes underline fragilities and risks to EU securities markets and investors
September 6, 2018--European Union (EU) securities markets, infrastructures and investors face new risks in the form of high volatility, the European Securities and Markets Authority (ESMA) said today in its latest Trends, Risks, and Vulnerabilities (TRV) Report (No 2, 2018).
ESMA also re-iterated its concerns about cyber risk and Brexit risks for business operations.
The TRV, which covers the first half of 2018, finds that overall risk levels for the EU's securities markets remained stable but at high levels for most risk categories.
view the ESMA Report Trends, Risks, and Vulnerabilities (TRV) Report (No 2, 2018)
Source: ESMA
Asset managers 'have something to hide' from pension trustees
September 6, 2018--Millions of savers may be paying more than the charge cap, MPs told
Some asset managers will refuse a request by pension trustees to hand over data on the charges they levy pension savers because "they have something to hide", a parliamentary committee has been told.
Giving evidence to MPs on the work and pensions select committee, Chris Sier, who headed a Financial Conduct Authority working group on pension fee transparency, said he expected some asset managers would resist attempts to make known the full extent of their fees.P>view more
Source: FT.com
BNP Paribas Asset Management Strengthens ETF And Index Solutions Sales Team In Germany
September 6, 2018--BNP Paribas Asset Management ('BNPP AM') announces the continued expansion of its ETF[1] and Index Solutions team in Germany with the appointment of Florian Schoeps as ETF and Index Solutions Sales Trader.
Based in Munich, Florian joined on 1 August and reports to Claus Hecher, Head of Business Development for Germany, Austria and the German-speaking areas of Switzerland.
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Source: BNP Paribas Asset Management
Wirecard AG to be included in DAX-new composition for TecDAX, MDAX and SDAX
September 5, 2018--Deutsche Börse applies new index rules/Changes to be effective as of 24 September 2018
On Wednesday, Deutsche Börse announced changes to its equity indices, which will become effective as of 24 September 2018.
The shares of Wirecard AG will be included in the DAX index, and will replace the shares of Commerzbank AG, which will move to MDAX.
This scheduled review of the selection indices of Deutsche Börse marks the first application of the new rules, which were announced on 18 May following a market consultation.
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Source: Deutsche Börse Cash Market
ESAs report finds automation in financial advice slowly growing but scale of market remains limited
September 5, 2018--The three European Supervisory Authorities (ESAs)-EBA, EIOPA and ESMA-today published the results of their monitoring exercise on automation in financial advice.
The Report shows that while the phenomenon of automation in financial advice seems to be slowly growing, the overall number of firms and customers involved is still quite limited. As the identified risks have not materialised and considering the limited growth of the phenomenon, the ESAs believe that no immediate action is necessary.
view the Joint Committee Report on the results of the monitoring exercise on 'automation in financial advice'
Source: ESMA
UK official holdings of international reserves: August 2018
September 5, 2018--This release details movements in the international reserves of gold and assets held by the UK government.
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Source: HM Treasury
SIX gains another high-profile ETF provider
September 5, 2018--As of today, 5 smart beta ETF issued by Fidelity International trade on the Swiss stock exchange for the first time.
The new listings by Fidelity International take the number of ETF providers available via SIX to a new high of 25, and the number of ETFs to a record of 1'394.
According to Fidelity International the Fidelity US Quality Income UCITS ETF provides exposure to high quality companies that aim to pay attractive dividends with the objective of delivering a yield in excess of the broader market whilst, at the same time, carefully managing risk.
This is based on the philosophy that higher quality companies with stable earnings and cash flows have a better opportunity to outperform over time.
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Source: SIX Swiss Exchange
Connections Beyond Trade Crucial for Economic Growth in Europe and Central Asia
September 5, 2018--International connectivity through trade, investment, migration, communications, and transport is critical to economic development in Europe and Central Asia. These connections work together to help firms become more productive through knowledge and technology transfers, says a new World Bank report, Critical Connections: Promoting Economic Growth and Resilience in Europe and Central Asia.
The report analyzes the impact of different types of connectivity on growth to help policy makers maximize the economic benefits of these connections across Europe and Central Asia.
view the Critical Connections: Promoting Economic Growth and Resilience in Europe and Central Asia report
Source: World Bank
iSTOXX Europe ESG Climate Awareness Select 50 Index licensed to Morgan Stanley
September 4, 2018--STOXX Ltd., the operator of Deutsche Börse Group's index business and a global provider of innovative and tradable index concepts, has licensed the iSTOXX Europe ESG Climate Awareness Select 50 Index to Morgan Stanley for the issuance of structured products.
The new index combines sustainability criteria with a high dividend yield and low volatility. The respective (environmental, social, governance) ESG and climate data is compiled by CDP (climate) and Sustainalytics (ESG). This is the first time STOXX combines data sources from these two providers in a single index.
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Source: Deutsche Börse Cash Market
Deutsche Bank Is Said to Be Removed From Euro Stoxx 50 Index
September 4, 2018--Years of losses and strategic drift have cost Deutsche Bank AG a seat among Europe's elite companies.
Germany's largest lender has dropped out of the Euro Stoxx 50 index for the first time since its inception in 1998, according to documents seen by Bloomberg. The index, compiled by Deutsche Boerse AG, provides a cross-section of the biggest and most liquid stocks in the euro area.
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Source: Bloomberg
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