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New EU derivatives rules to reduce costs and regulatory burdens
February 7, 2019--The EU Parliament and states reached political agreement Tuesday on rules applying to non-financial counterparties, small financial counterparties and pension funds using financial derivative products.
The targeted reform of the European Market Infrastructure Regulation (EMIR) introduces simpler rules for derivatives, which is expected to reduce costs and regulatory burdens for market participants.
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Source: eubusiness.com
Launch of the First Polish ETF
January 7, 2019--A new WIG20TR ETF has been added to GPW's offer of financial products
The new Beta ETF is the first Polish ETF listed on GPW
Beta ETF WIG20TR, the first 100% Polish ETF in the history of the Warsaw Stock Exchange, established under Polish law, developed and managed by Polish experts, has been newly listed on GPW’s Main Market today.
Beta ETF WIG20TR, the first 100% Polish ETF in the history of the Warsaw Stock Exchange, established under Polish law, developed and managed by Polish experts, has been newly listed on GPW’s Main Market today.
AgioFunds TFI is the ETF's issuer. Dom Maklerski BOŚ is the offeror and market maker. Beta Securities Poland participates as co-ordinator in the development of Poland's ETF market.
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Source: GPW Main Market
Nasdaq Copenhagen Welcomes XACT OMXC25 ETF
February 7, 2019--Nasdaq (Nasdaq: NDAQ) announced today that trading in the Xact OMXC25 ETF (UCITS ETF) commences on Nasdaq Copenhagen*. Xact C25 ETF is issued by Xact Kapitalförvaltning AB and distributed by Handelsbanken Denmark. Xact C25 ETF is traded under ISIN code SE0011452127, has the Trading Code XACTC25, and is the first ETF to be accepted for trading on the Nasdaq Copenhagen exchange.
Xact Kapitalförvaltning AB is a Swedish fund company specializing in index management. Already in 2000, Xact launched the first ETF in Sweden and thus became the first in the Nordic region to offer ETFs. Today, approximately SEK 30 billion is under management in 15 ETFs, making Xact the Nordic region's leading provider of ETFs.
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Source: Nasdaq Nordic
Winter 2019 Economic Forecast: growth moderates amid global uncertainties
February 7, 2019--The European economy is expected to grow for the seventh year in a row in 2019, with expansion forecast in every Member State. The pace of growth overall is projected to moderate compared to the high rates of recent years and the outlook is subject to large uncertainty.
Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union, said: "All EU countries are expected to continue to grow in 2019, which means more jobs and prosperity. Yet our forecast is revised downwards, in particular for the largest euro area economies. This reflects external factors, such as trade tensions and the slowdown in emerging markets, notably in China."
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Source: European Commission
HANetf completes second oversubscribed funding round
February 6, 2019--HANetf, Europe's first independent "white-label" UCITS ETF platform, has completed its second oversubscribed funding round, bringing on a number of experienced industry figures.
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Source: MRN-london.com
ESMA publishes supervisory briefing on the supervision of non-EU branches of EU firms
February 6, 2019--The European Securities and Markets Authority (ESMA) has today published a MiFID II supervisory briefing on the supervision of non-European Union (EU) branches of EU firms providing investment services and activities.
The supervisory briefing has been designed to assist national competent authorities (NCAs) in their supervision of the establishment by EU firms of branches in non-EU countries.
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Source: ESMA
ESMA SETS OUT 2019 PRIORITIES FOR SUPERVISORY CONVERGENCE
February 6, 2018--The European Securities and Markets Authority (ESMA) has published today its 2019 Supervisory Convergence Work Programme (SCWP), which sets out ESMA's work streams to promote sound, efficient and consistent supervision across the European Union (EU).
For 2019, the following priorities for supervisory convergence were identified:
Ensuring supervisory convergence in the context of the UK's decision to withdraw from the EU;
Making data and its use more robust and consistent by developing and further clarifying reporting methodologies and providing guidance to ensure complete and high-quality data;
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Source: ESMA
IMF Staff Country Reports-Italy: Selected Issues
February 6, 2019--REFORMING ITALY'S SOCIAL WELFARE SYSTEM AND LOWERING TAXES ON LABOR: SOME CONSIDERATIONS2
The Italian authorities are keen to improve Italy's social welfare system. They plan to introduce a new citizenship income program, aimed at assisting the poor and facilitating their reintegration into the labor market.
They also plan to gradually lower taxes on labor income. With a social safety net centered on pensions and the elderly and an array of income support schemes as well as a heavy tax burden falling on labor income, there is significant scope to improve Italy's system of taxes and transfers to promote growth and inclusion. This note uses the tax-benefit microsimulation model for the European Union (EUROMOD) to evaluate possible reforms to modernize Italy's social safety net as well as ways to lower the tax wedge on labor.
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Source: IMF
Market-maker Flow Traders names head of fixed income
February 6, 2019--Ramon Baljé joins electronic market maker in Amsterdam
Ramon Baljé joined Flow Traders earlier this month, a spokesperson confirmed.
He was most recently global head of Nomura's trading business in the Netherlands, having worked at the Japanese bank for around four years before leaving last summer.
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Source: fnlondon.com
UK official holdings of international reserves: January 2019
February 5, 2019--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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Source: HM Treasury
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