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ESMA provides clarifications for best execution reports under MiFID II
March 31, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, is issuing a Public Statement to clarify issues regarding the publication by execution venues and firms of the general best execution reports required under RTS 27 and 28 of MiFID II, in light of the COVID-19 pandemic.
ESMA and competent authorities are aware of difficulties encountered by execution venues and firms in preparing these reports due to the COVID-19 pandemic and the related actions taken by the Member States to prevent contagion.
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Source: ESMA
Unscheduled adjustment in SDAX
March 30, 2020--Adler Real Estate AG to be deleted from index, BayWa AG to be added
On Monday, Qontigo announced an unscheduled change to the SDAX index.
Due to the takeover of Adler Real Estate AG (DE0005008007) by ADO Properties (LU1250154413) the free float of Adler Real Estate AG falls below 10 percent.
According to the Guide to the DAX Equity Indices, section 5.1.5. Adjustments in the Case of Mergers and Acquisitions, Adler Real Estate AG shares will be deleted from the SDAX index. They will be replaced by BayWa AG (DE0005194062).
These changes will become effective on 2 April 2020.
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Source: Deutsche Börse
Regulators across Europe clash over bans on short selling
March 30, 2020--Some countries prohibit bets on lower prices, while others warn bans make matters worse
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Source: FT.com
Direxion Is Accelerating The Shifts Of 10 ETFs From 3x Leverage To 2x Leverage As Volatility Remains High
March 27, 2020--Direxion is dramatically altering the time frame for shifting 10 of its geared exchange traded funds to double from triple leverage, saying that those changes will go into effect after the close of U.S. markets on March 31 after originally being slated to be implemented on May 19.
Citing an unprecedented spike in market volatility at the hands of the COVID-19 pandemic, Direxion said last week it planned to reduce the daily leverage exposure on 10 well-known ETFs, including the Direxion Daily Gold Miners Index Bull 3X Shares NUGT, and the Direxion Daily Gold Miners Index Bear 3X Shares DUST, to 2x from 3x.
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Source: marketwatch.com
Lyxor first provider to launch an ecosystem of ETFs designed to counter climate change
March 26, 2020- Today, Lyxor ETF is delighted to announce that it is the first ETF provider to make a full range of ETFs designed to counter climate change available to investors. These ETFs, the first of their kind in Europe, are designed to be consistentwith the carbon emission reduction targets of the Paris Agreement of 2015.
Investors will be able to access European, US, Emerging Markets and World equity exposures in a simple, transparent and cost-effective way. Two of the ETFs (Emerging Markets and US) were listed today on Euronext (in EUR), and they'll also be listed on London Stock Exchange (in USD) on April 7th.Two further ETFs will follow shortly.
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Source: Lyxor
Monetary developments in the euro area: February 2020
March 26, 2020--Annual growth rate of broad monetary aggregate M3 increased to 5.5% in February 2020 from 5.2% in January
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, increased to 8.1% in February from 7.9% in January
Annual growth rate of adjusted loans to households stood at 3.8% in February, compared with 3.7% in January
Annual growth rate of adjusted loans to non-financial corporations decreased to 3.0% in February from 3.2% in January
Components of the broad monetary aggregate M3
The annual growth rate of the broad monetary aggregate M3 increased to 5.5% in February 2020 from 5.2% in January, averaging 5.2% in the three months up to February. The components of M3 showed the following developments.
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Source: ECB
New iShares ETF on Xetra: Corporate bonds with a focus on sustainability
March 26. 2020--Since Thursday, a new Exchange Traded Fund of iShares has been tradable on Xetra and Börse Frankfurt.
With the iShares $ Corp Bond ESG UCITS ETF USD (Acc), investors can participate in the performance of fixed-income corporate bonds denominated in US dollars.
The investment universe includes bonds with investment grade status, a minimum residual maturity of one year and a minimum outstanding amount of $300 million. The benchmark index excludes companies whose products have a negative social or environmental impact. These include producers of alcohol, tobacco, gambling, adult entertainment, genetically modified organisms, nuclear power and weapons. The returns are reinvested.
Name: iShares $ Corp Bond ESG UCITS ETF USD (Acc)
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Source: Xetra
IMF Staff Country Report-Italy: Financial System Stability Assessment
March 20, 2020--Summary:
Substantial progress has been made in recent years in strengthening the financial sector, but important weaknesses remain. Bank capitalization and asset quality have improved considerably but are still below the EU average and the financial sector has large exposures to the Italian sovereign.
view the IMF Staff Country Report-Italy: Financial System Stability Assessment
Source: IMF
UBS and BlackRock partner on new development bank debt ETF
February 18, 2020--iShares product will offer UBS wealth clients exposure to high-quality debt with a focus on advancing the United Nations Sustainable Development Goals (UN SDGs)
UBS, the world's leading global wealth manager, has partnered with BlackRock on the launch of a new exchange-traded fund (ETF) investing in multilateral development bank (MDB) debt.
The ETF will be included in certain UBS Global Wealth Management (GWM) mandates and offered on GWM platforms as an alternative to traditional high-quality fixed income investments such as government bonds. MDB debt offers strong-often AAA-credit ratings, high liquidity, and a higher yield than US Treasuries. The funds raised by MDB debt are also focused on advancing the UN SDGs.
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Source: marketscreener.com
New iShares ETF on Xetra: short-term corporate bonds with a focus on sustainability
March 18, 2020--Since Wednesday, a new Exchange Traded Fund issued by iShares has been tradable on Xetra and the Frankfurt Stock Exchange.
With the iShares € Ultrashort Bond ESG UCITS ETF EUR (Dist), investors can invest in short-term fixed and floating rate corporate bonds.
Included are bonds issued in euros with an investment grade rating and a maximum term of three years. In addition, bonds of companies whose business activities are associated with weapons or tobacco or are not in line with the principles of the United Nations Global Compact are filtered out.
NAme: iShares € Ultrashort Bond ESG UCITS ETF EUR (Dist)
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Source: Xetra
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