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ESMA updates Q&As on the Benchmarks Regulation
February 5, 2018--The European Securities and Markets Authority (ESMA) has published updated Questions and Answers (Q&As) regarding the implementation of the Benchmarks Regulation (BMR).
The Q&As include two new answers regarding the following topics:
Commodity benchmarks: how the threshold in the exemption under Article 2(2)(g) of BMR should be calculated; and
Definition of a benchmark and investment funds: clarification of the cases in which a benchmark is used to measure the performance of an investment fund.
view the Q&A on the Benchmarks Regulation (BMR)
Source: ESMA
Boerse Stuttgart generates turnover in excess of EUR 7.5 billion in January
February 2, 2018--Significant increase in turnover across all asset classes
According to its order book statistics, Boerse Stuttgart generated turnover in excess of EUR 7.5 billion in January 2018. The trading volume was around 24 percent higher than in the previous month.
Securitised derivatives accounted for the largest share of the turnover. The trading volume in this asset class was around EUR 3.4 billion-an increase of more than 26 percent in comparison with the previous month. Turnover in leverage products rose by around 45 percent to more than EUR 1.9 billion during the month of January. Turnover in derivative investment products was more than EUR 1.4 billion.
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Source: Boerse Stuttgart
Cash markets achieve highest January turnover since 2008 with 156.5 billion euros
February 2, 2018--Increase of 34 per cent year-on-year
With a turnover of €156.5 billion in January, Deutsche Börse cash markets achieved the highest January turnover since 2008 (January 2017: €116.8 billion).
Of the €156.5 billion, €140.4 billion were attributable to Xetra (January 2017: €104.7 billion). The average daily turnover on Xetra was thus €6.4 billion. Order book turnover on Börse Frankfurt totalled €4.5 billion (January 2017: €4.4 billion) and on Tradegate Exchange €11.6 billion (January 2017: €7.8 billion).
Broken down by asset classes, cash market turnover in equities reached about €137.9 billion. Turnover in ETFs/ETCs/ETNs amounted to €16.4 billion.
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Source: Deutsche Börse Group
Eurozone growth keeps Euro on upward curve -Euro currency news daily
February 2, 2018--Euro
GBP/EUR expected range: 1.1350-1.1465
The EUR dipped once more below USD1.24 early yesterday morning but since then it's been on an upward tear; rising a full cent off the low to be within touching distance of the 3-year high of 1.2530 reached during the ECB Press Conference last week.
Indeed, the EUR finished at the top of our one-day performance table, rising against all the major currencies we track closely here. Overnight in Asia it has traded either side of USD1.25 in a surprisingly narrow range given the volatility in US equity and bond markets.
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Source: eubusiness.com
ESMA publishes results of the second EU-wide CCP stress test
February 2, 2018--The European Securities and Markets Authority (ESMA) has published today the results of its second EU-wide stress test exercise regarding Central Counterparties (CCPs) established in the European Union (EU).
The CCP stress test assesses the resilience and safety of the EU CCP industry and helps to identify possible vulnerabilities. The results of the second EU-wide stress test show...
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Source: ESMA
European Commission launches the EU Blockchain Observatory and Forum
February 1, 2018--The Commission launched today the EU Blockchain Observatory and Forum with the support of the European Parliament, represented by Jakob von Weizsäcker responsible for the recent report on virtual currencies.
The Blockchain Observatory and Forum will highlight key developments of the blockchain technology, promote European actors and reinforce European engagement with multiple stakeholders involved in blockchain activities.
Blockchain technologies, which store blocks of information that are distributed across the network, are seen as a major breakthrough, as they bring about high levels of traceability and security in economic transactions online. They are expected to impact digital services and transform business models in a wide range of areas, such as healthcare, insurance, finance, energy, logistics, intellectual property rights management or government services.
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Source: Europa
The Spanish stock exchange traded 50.8 billion euro in January
February 1, 2018--Up 6.6% from December 2017 and the best month since October
The number of trades in January were up 28.7% from the preceding month
The Spanish Stock Exchange traded €50.8 billion in January, up 6.6% from December 2017and the best month since October. The number of trades came in at 4.2 million in January, up 28.7% from the preceding month.
Trading of Financial Derivatives increased 3.5% year-on year in January. There was growth in IBEX 35 futures, Mini IBEX 35 Futures, IBEX 35 Options and Futures on Stocks. The open interest in these contracts increased 16%, 23%, 38% and 34% respectively.
As regards Fixed Income it is worth mentioning the new issues admitted to MARF in January, which reached €2.5 billion, up 14.8% year-on-year.
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Source: BME (Bolsas y Mercados Españoles
New partnership of industry and academia explores potential of Artificial Intelligence and Natural Language Processing
February 1, 2018--Post-trade services provider Clearstream, part of Deutsche Börse Group, has entered a collaborative research partnership with the Interdisciplinary Centre for Security, Reliability and Trust (SnT) at the University of Luxembourg.
Over the next four years, a joint research project will explore the potential of Artificial Intelligence (AI) and Natural Language Processing (NLP) in process automation in order to simplify and standardize requirements analysis.
The project aims to eventually render processes more cost-and time-efficient. Requirements state the necessary capabilities and characteristics of a system in order for it to have value for its users. This strategic initiative, run in collaboration with escent, a consulting firm specialized in business analysis and requirements engineering, looks to automate the laborious analysis tasks present in Clearstream's IT system requirements engineering practices.
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Source: Deutsche Börse Group
State Street Global Advisors announces the launch of the SPDR Bloomberg Barclays Global Aggregate Bond UCITS ETF
February 1, 2018--State Street Global Advisors, the asset management business of State Street Corporation (NYSE:STT), today announced the launch of the SPDR Bloomberg Barclays Global Aggregate Bond UCITS ETF.
Effective today, the fund is available unhedged on the Xetra exchange. It will launch on the London Stock Exchange on January 30 and on Borsa Italiana later this year. Share classes hedged to USD, Euro, GB sterling and the Swiss franc will be available in the coming weeks.
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Source: State Street Corporation
EBA launches 2018 EU-wide stress test exercise
January 31, 2018--The European Banking Authority (EBA) launched today its 2018 EU-wide stress test and released the macroeconomic scenarios. The adverse scenario implies a deviation of EU GDP from its baseline level by 8.3% in 2020, resulting in the most severe scenario to date.
The EBA expects to publish the results of the exercise by 2 November 2018.
Key features of the exercise
The stress test is designed to provide supervisors, banks and other market participants with a common analytical framework to consistently compare and assess the resilience of EU banks to economic shocks. For the first time, it incorporates IFRS 9 accounting standards. No pass-fail threshold has been included as the results of the exercise are designed to serve as an input to the Supervisory Review and Evaluation Process (SREP).
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Source: EBA
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