Markets in Financial Instruments Directive 2014

ESMA publishes analysis on the evolution of EEA share market structure since the application of MiFID II

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Thursday, November 9, 2023

Markets in Financial Instruments Directive 2014, EEA, ESMA, Review, Regulation, Medical device, Transport, EU

ESMA publishes analysis on the evolution of EEA share market structure since the application of MiFID II

Key Points:

ESMA publishes analysis on the evolution of EEA share market structure since the application of MiFID II
ESMA publishes today an article on the evolution of the European share market structure from 2019 to 2022, following the implementation of the markets in financial instruments directive (MiFID II).
Specific focus is given to the impact of the UK’s withdrawal from the EU, given its pivotal role in equity markets.
The European market structure has changed in an important manner during the observed period.
Background
This topic is of relevance to ESMA in terms of both its financial stability and orderly markets mandate, since competition among trading venues can lead to more innovative services and lower fees, but a fragmented trading landscape can also impact market liquidity.

ESMA publishes data for quarterly bond liquidity assessment and the systematic internaliser calculations

Retrieved on:

Thursday, November 9, 2023

Markets in Financial Instruments Directive 2014, SI, OTC, RTS, European Securities and Markets Authority, XML, ESMA, Publication, Observation, Medical device, Security (finance), EU

ESMA publishes data for quarterly bond liquidity assessment and the systematic internaliser calculations

Key Points:

ESMA publishes data for quarterly bond liquidity assessment and the systematic internaliser calculations
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published the new quarterly liquidity assessment of bonds, the data for the quarterly systematic internaliser calculations for equity, equity-like instruments, bonds and for other non-equity instruments under MiFID II and MiFIR.
Bonds quarterly liquidity assessment
ESMA has published the latest quarterly liquidity assessment for bonds available for trading on EU trading venues.
ESMA’s liquidity assessment for bonds is based on a quarterly assessment of quantitative liquidity criteria, which includes the daily average trading activity (trades and notional amount) and the percentage of days traded per quarter.
ESMA also publishes two completeness indicators related to bond liquidity data.

Loomis Sayles Expands European Presence With Formal Launch of Loomis Sayles (Netherlands) B.V.

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Wednesday, November 1, 2023

Consulting, Asset Management, Professional Services, Finance, Markets in Financial Instruments Directive 2014, United Kingdom, Consultant, Loomis, Sayles & Company, AFM, Financial adviser, Bank

The formal launch of Loomis Sayles (Netherlands) B.V. follows on the recent approval by Dutch financial regulator Autoriteit Financiële Markten (AFM) of the office’s Alternative Investment Fund Manager (AIFM) license with MiFID top up permissions.

Key Points:

The formal launch of Loomis Sayles (Netherlands) B.V. follows on the recent approval by Dutch financial regulator Autoriteit Financiële Markten (AFM) of the office’s Alternative Investment Fund Manager (AIFM) license with MiFID top up permissions.
With the AIFM license, Loomis Sayles broadens its capability to offer investment solutions within the EMEA market, helping to meet the distinct needs of clients and the consultant community in the region.
The Loomis Sayles Euro Credit team anchors the Netherlands office.
As of 30 September 2023, the team manages EUR1.50 billion in assets across the following three strategies that are of significant interest to the firm’s European clients:
“Supporting the needs of clients and investment consultants across EMEA is a strategic priority for Loomis Sayles,” said Kevin Charleston, chief executive officer of Loomis Sayles.

FundBank Launches Introduced Prime Brokerage Services in Collaboration with Interactive Brokers

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Tuesday, October 31, 2023

Markets in Financial Instruments Directive 2014, FATCA, Interactivity, II, Interactive Brokers, GEORGE, IBKR, Introduction, GDPR, AML, Financial services, Sales

GEORGE TOWN, Cayman Islands, Oct. 31, 2023 /PRNewswire/ -- FundBank announced today that it is launching Introduced Prime Brokerage Services through Interactive Brokers (NASDAQ: IBKR). This turnkey solution will provide clients with trading, clearing, custody and reporting capabilities whilst leveraging the advanced trading technologies of Interactive Brokers. Clients will benefit from:

Key Points:

Expanding its suite of banking solutions, FundBank launches Introduced Prime Brokerage Services, and is poised to transform the institutional banking sector with its unmatched range of offerings tailored to the asset management industry.
GEORGE TOWN, Cayman Islands, Oct. 31, 2023 /PRNewswire/ -- FundBank announced today that it is launching Introduced Prime Brokerage Services through Interactive Brokers (NASDAQ: IBKR).
This turnkey solution will provide clients with trading, clearing, custody and reporting capabilities whilst leveraging the advanced trading technologies of Interactive Brokers.
Adam Rossiter, COO FundBank, Ltd. commented, "We are delighted to be working with a high calibre broker such as Interactive Brokers as we continue on our growth trajectory, expanding our offerings to deliver an unmatched and innovative client experience."

Open Wealth Platform Flanks secures an $ 8m Series A round led by Earlybird

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Wednesday, October 18, 2023

Markets in Financial Instruments Directive 2014, Intelligence, JME, Fintech, Early Bird, PSD3, Entrepreneurship, Open banking, API, PSD2, Algorithm, GDPR, Capital, Automation, Cryptocurrency, Financial services, Flank, FIDA, EU

BARCELONA, Spain, Oct. 18, 2023 /PRNewswire/ -- Flanks, an API for automated wealth services, has secured $ 8m in a Series A round led by Earlybird Venture Capital, and followed by the existing investors JME Ventures and 4Founders Capital.

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BARCELONA, Spain, Oct. 18, 2023 /PRNewswire/ -- Flanks, an API for automated wealth services, has secured $ 8m in a Series A round led by Earlybird Venture Capital, and followed by the existing investors JME Ventures and 4Founders Capital.
By digitizing and aggregating global wealth data across custodians into a single API, Flanks redefines the way financial information is shared within the global wealth management market.
Based on the powerful API layer for global wealth data, Flanks helps its clients to improve wealth services at scale.
Tim Rehder, Partner at Earlybird, says: "The opportunity for Open Wealth is building the foundation for automation and intelligence in the wealth management sector.

Open Wealth Platform Flanks secures an $ 8m Series A round led by Earlybird

Retrieved on:

Wednesday, October 18, 2023

BARCELONA, Spain, Oct. 18, 2023 /PRNewswire/ -- Flanks, an API for automated wealth services, has secured $ 8m in a Series A round led by Earlybird Venture Capital, and followed by the existing investors JME Ventures and 4Founders Capital.

Key Points:

BARCELONA, Spain, Oct. 18, 2023 /PRNewswire/ -- Flanks, an API for automated wealth services, has secured $ 8m in a Series A round led by Earlybird Venture Capital, and followed by the existing investors JME Ventures and 4Founders Capital.
By digitizing and aggregating global wealth data across custodians into a single API, Flanks redefines the way financial information is shared within the global wealth management market.
Based on the powerful API layer for global wealth data, Flanks helps its clients to improve wealth services at scale.
Tim Rehder, Partner at Earlybird, says: "The opportunity for Open Wealth is building the foundation for automation and intelligence in the wealth management sector.

Intermedia Cloud Communications Honored with 2023 Frost & Sullivan Best Practices New Product Innovation Award in the Global UCaaS Archiving Market

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Thursday, October 12, 2023

SUNNYVALE, Calif., Oct. 12, 2023 /PRNewswire/ -- Intermedia Cloud Communications, a leading provider of intelligent cloud communications and collaboration solutions – including voice, video, chat, contact center, email, file management, productivity applications, and more – to businesses and the partners that serve them, announced it has been recognized with the prestigious Best Practices New Product Innovation Award from preeminent analyst firm, Frost & Sullivan, for its groundbreaking Intermedia Unite Archiving solution. Frost & Sullivan presents the New Product Innovation Award to companies at the forefront of innovation and growth in their respective industries, applying a rigorous analytical process to evaluate multiple nominees before determining the final award recipient.

Key Points:

Frost & Sullivan presents the New Product Innovation Award to companies at the forefront of innovation and growth in their respective industries, applying a rigorous analytical process to evaluate multiple nominees before determining the final award recipient.
Intermedia Unite Archiving, which is available to customers of the all-in-one communications, collaboration, and contact center solution, Intermedia Unite, addresses this challenge by automating communications data collection and archiving to facilitate cross-channel data compliance, unified search, and reporting.
As Frost & Sullivan noted in its evaluation report, Unite Archiving has already distinguished itself amongst the competition since its launch earlier this year.
"We are deeply honored to receive the 2023 Frost & Sullivan Best Practices New Product Innovation Award for Intermedia Unite Archiving.

ESMA to launch Common Supervisory Action on MiFID II sustainability requirements

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Tuesday, October 3, 2023

European Securities and Markets Authority, Single Supervisory Mechanism, National, Markets in Financial Instruments Directive 2014, CSA, Property management, Audit, Plumbing, Marketing, ESMA, EU

ESMA to launch Common Supervisory Action on MiFID II sustainability requirements

Key Points:

ESMA to launch Common Supervisory Action on MiFID II sustainability requirements
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, will launch a Common Supervisory Action (CSA) with National Competent Authorities (NCAs) on the integration of sustainability in firms’ suitability assessment and product governance processes and procedures in 2024.
The goal of the CSA will be to assess the progress made by intermediaries in the application of the key sustainability requirements, which entered into application in 2022 following the amendments to the MiFID II Delegated Acts.
ESMA believes this initiative, and the related sharing of practices across NCAs, will help ensure consistent application of EU rules and enhance the protection of investors in line with ESMA’s objectives.
The CSA follows ESMA’s recent update of two sets of guidelines on suitability and product governance, both of which enter into application today.

Chase Buchanan Irish Pensions Expert, Sheds Light on the Standard Fund Threshold Calculation

Retrieved on:

Friday, September 29, 2023

Chase Buchanan's Irish pensions specialist, Malcolm McDowell, has recommended all Irish pension savers, and non-residents with Irish retirement products, review their tax positions if they are approaching, or likely to reach, the €2 million Standard Fund Threshold calculation (SFT).

Key Points:

Chase Buchanan's Irish pensions specialist, Malcolm McDowell, has recommended all Irish pension savers, and non-residents with Irish retirement products, review their tax positions if they are approaching, or likely to reach, the €2 million Standard Fund Threshold calculation (SFT).
The SFT is a level above which Irish pension fund holders are exposed to additional taxation.
While the Standard Fund Threshold calculation only applies to higher-value pension funds, the tax levies assigned are substantial, and can be mitigated with support from a suitably experienced and licenced financial adviser.
Effective tax rates on pension savings above the SFT can exceed 70%, with only the residual post-tax proportion of pension assets above the SFT threshold accessible by the fund holder.

EQS-News: Adler Group S.A. successfully places EUR 191,000,000 senior secured notes due 2025

Retrieved on:

Friday, September 29, 2023

Luxembourg, 29 September 2023 – Adler Group S.A. (the “Company”) successfully placed EUR 191,000,000 senior secured notes due 31 July 2025 (the “New Notes”).

Key Points:

Luxembourg, 29 September 2023 – Adler Group S.A. (the “Company”) successfully placed EUR 191,000,000 senior secured notes due 31 July 2025 (the “New Notes”).
The New Notes will be issued at 100% of their nominal value and accrue an annual PIK-amount of 21%.
The net proceeds from the issuance of the New Notes will be used for the repayment of the Company’s outstanding EUR 165,000,000 senior secured convertible notes due 23 November 2023 (ISIN DE000A2RUD79) (the “Convertible Notes”) and certain promissory notes (Schuldscheine) issued by ADO Lux Finance S.à r.l.
The Company intends for the New Notes to be quoted on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange.