Europe's economy is going through a significant slowdown that could force the European Central Bank to adjust interest-rate policy, Governing Council member Francois Villeroy de Galhau says. The deciding factor will be whether data indicate the slowdown is temporary or "more durable", he says.
Structured products, as well as equity and debt deals, are shifting to private deals from public markets, in-house lawyers and heads of trading desks say. Fundraising once handled with initial public offerings is increasingly handled through private-market mergers and acquisitions.
A fresh round of cheap, multiyear loans to eurozone banks is under consideration in light of an economic slowdown that is "stronger and broader" than expected, European Central Bank Executive Board member Benoit Coeure says. The comment has spurred a rally among eurozone bank stocks but has caused the euro to drop.
Firms that move bilateral swaps contracts to EU hubs from London before Brexit's effective date, expecting the lack of a divorce agreement, run the risk of losing grandfathering provisions if a deal is formed at the last minute, experts say.
Big asset managers have succeeded more than small ones have at reducing costs after introduction of Europe's revised Markets in Financial Instruments Directive, a CFA Institute survey shows.
Companies in the EU are not switching to replacement benchmarks as fast as counterparts in the UK and the US are because of delays in guidance on the replacement process. The tight schedule of the release of the Euro Short-term Rate months before a 2020 deadline complicates the switch, market participants say.
Traders are concerned about a lack of quality and usability of post-trade data published by approved publication arrangements and trading venues under Europe's revised Markets in Financial Instruments Directive. Some approved publication arrangements have not changed data-distribution practices since the European Securities and Markets Authority issued guidance almost a year ago, market participants say.
The European Securities and Markets Authority has issued 12-month licenses to LCH, ICE Clear Europe and LME Clear to allow EU traders access if a no-deal Brexit occurs.
ErisX has written the Commodity Futures Trading Commission to say "a regulated futures contract on ether would have a positive impact on the growth and maturation of the market," responding to the regulator's request for input on the matter. The exchange wants regulatory approval to launch futures contracts during the second half of 2019.
Oslo Bors would become Euronext's "anchor in the Nordic for the Nordic ambition" and a headquarters for commodity business if acquired, Euronext CEO Stephane Boujnah says. This is in contrast to rival bidder Nasdaq's plan to "complete a Nordic monopoly," Boujnah says.
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