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Deutsche Bank Research: Europäischer Markt für ETFs und verwandte Indexprodukte wächst um 8,5 Prozent im 1. Quartal 2010
April 12, 2010--In der zweiten Ausgabe ihres globalen Research über
ETFs & ETPs: „Quaterly ETP Market Update: Growth on Track“ haben die Analysten der Deutschen Bank ein weiterhin starkes Wachstum des weltweit verwalteten
Vermögens in ETFs und verwandten Indexprodukten verzeichnet. Der weltweite Markt für Indexprodukte ist um 3,5 Prozent auf 1,14 Billionen US-Dollar gewachsen.
In Europa ist das verwaltete Vermögen in diesem Segment deutlich schneller
gewachsen, um 8,5 Prozent auf 184 Milliarden Euro.
In dem quartalsweise erscheinenden Report werden ETFs (Exchange Traded Funds, börsennotierte Indexfonds) und verwandte börsennotierte Indexprodukte wie ETCs (Exchange Traded Commodities) oder ETN (Exchange Traded Notes) analysiert. Gemeinsam bilden sie die Gruppe der Exchange Traded Products (ETPs), wobei ETFs den mit Abstand größten Teil darstellen. Zusätzlich zur ersten Ausgabe des Reports wurden dieses Mal auch der Asiatisch/Pazifische ETP-Markt analysiert und das gehandelte Volumen mit ETPs außerhalb der Börse. Die wichtigsten Ergebnisse des aktuellen Reports:
Verwaltetes Vermögen im 1. Quartal 2010: Stabiles Wachstum
- Das weltweit verwaltete Vermögen in Exchange Traded Products (ETPs) ist im 1. Quartal 2010 um 3,5 Prozent auf 1,14 Billionen US-Dollar gestiegen
- In Europa stieg das verwaltete Vermögen in ETPs um 8,5 Prozent auf 184 Milliarden Euro. Die Analysten der Deutschen Bank bleiben bei ihrer Prognose eines Marktwachstums von 20-25 Prozent in Europa in 2010
Zuflüsse im 1.Quartal 2010 im Detail:
- Obwohl der US-Markt für ETPs nach verwaltetem Vermögen drei Mail so groß ist wie der europäische Markt, verzeichneten beide Regionen Mittelzuflüsse in fast derselben Höhe (US: 9,3 Milliarden US-Dollar; Europa: 9,9 Milliarden USDollar
- Während im US-Markt Aktien-ETPs starke Abflüsse aufwiesen, haben in Europa alle Anlageklassen Zuflüsse registriert. Aktien und Alternative Anlageklassen haben in Europa besonders starke Zuflüsse bei ETPs gezeigt, obwohl dies angesichts abnehmender Volatilität an den Aktienmärkten nicht zu erwarten gewesen wäre.
Anbieterentwicklung: Top-3-Anbieter mit hohen Zuflüssen
- Im europäischen ETP-Markt behauptet BlackRock seine Position als größter
ETP-Anbieter. Jedoch können Deutsche Bank und Lyxor im 1. Quartal 2010
höhere Zuflüsse für sich vereinnahmen.
Source: Deutsche Bank Research
European ETF activity highlights for March 2010:
April 9, 2010--Highlights for March 2010
At the end of March, NYSE Euronext had 525 listings of 477 ETFs from 17 issuers. These ETFs cover more than 300 indices exposed to an extended range of assets and strategies (Equity, Fixed Income, Commodities, Short, Leverage, etc…).
* In March 2010, the number of ETFs increased by 25.9% compared to end of March 2009. So far this year, 28 new ETFs have already been listed.
* On March 1, 222 additional ETFs having Euronext Paris as their Market of Reference became eligible to the Deferred Settlement Service (SRD). All 369 ETFs with Market of Reference NYSE Euronext Paris are now eligible to this service. These ETFs are not, however, admitted to trading on NYSE Euronext’s centralized borrowing and lending market. This category of assets, that is eligible to the SRD but not available for trading on the borrowing and lending market, is named “eligible to the SRD, long only”. This evolution offers investors the unique opportunity to link the advantages of ETFs to that of the Deferred Settlement Service, notably the efficient access with leverage to a broad range of asset classes within a secured regulated environment.
* Following the impressive growth seen in both January and February 2010 for the daily average number of trades and daily average turnover, March 2010 was a month in which these figures remained stable compared with March 2009. On average, there were 7 024 trades on a daily basis, which was slightly down from 7 489 in March 2009. Daily average turnover reached €291 million in March 2010, virtually the same as in March 2009.
* At the end of March, the combined Assets Under Management of all ETFs listed on the NYSE Euronext European markets totaled €118.6 billion, an increase of 67.1% from the €70.9 billion at the end of March 2009.
* The combination of the flow of 19 first-class Liquidity Providers, competitive market makers, client orders and our high capacity, low latency technology contributed to a median spread of 25.59 bps of all listed ETFs in March 2010, down from 50.11 bps in March 2009.
* NYSE Euronext’s Liquidity Providers program continued to expand as well over the course of March. At the end of the month, 19 Liquidity Providers had a total of 965 liquidity provision agreements, providing firm bid/ask quotes with minimum size and maximum spread requirements for the entire trading session on all ETFs. In March, 29 new LP contracts were added.
visit http://www.euronext.com/etf for more info.
Source: NYSE Euronext
Seven New db x-trackers Strategy Index ETFs Launched on Xetra
April 9, 2010--Seven more exchange-listed strategy index funds issued by db x-trackers, a subsidiary of Deutsche Bank, are now tradable in Deutsche Börse’s XTF segment.
The new ETFs offer investors the opportunity to follow the EURO STOXX 50, DAX, FTSE 100 and S&P 500 indices with a double-leverage factor and to participate in the double-inverse performance of the EURO STOXX 50, DAX und S&P 500 indices.
EURO STOXX 50 is the leading European blue-chip index. It contains the 50 largest companies in the euro zone based on market capitalization, exchange turnover and sector. DAX is the most important German equity index, and as the fourth largest underlying for derivatives in the world is a key equity index in the global financial markets. It contains the 30 best-performing and largest (in terms of market capitalization) German companies listed on the Frankfurt Stock Exchange. The FTSE 100 reflects the performance of the 100 biggest and best-performing British companies listed on the London Stock Exchange. The S&P 500 is an equity index comprising the 500 biggest US listed companies.
The product offering in Deutsche Börse’s XTF segment currently contains a total of 651 exchange-listed index funds, making it the largest offering of all European stock exchanges. This selection, together with an average monthly trading volume of around €13 billion, makes Xetra Europe’s leading trading venue for ETFs.
view product list
Source: Deutsche Börse
ÝMKB raises the bar and crosses the 59,000 mark
April 9, 2010--The Ýstanbul Stock Exchange is showing no signs of letting up its rally as it broke yet another record in the first minutes of opening and crossed the 59,000 mark – the first the benchmark index has ever crossed that barrier.
In the first hour of trading the ÝMKB-100 index broke its previous record of 58,896 achieved during the second session of trading on Monday by crossing the 59,000 mark and hitting 59,039. The benchmark index did not stop there, however, and rose to an all-time high of 59,173 before the end of the first session of trading. In the second session, the index hit 59,289 for yet another record and not showing any signs like it will back off.
read more
Source: Todays Zaman
Central bank starts trading in four more currencies
April 9, 2010--The Central Bank of Turkey announced on Friday that it will begin buying and selling four more currencies, raising the number of currencies traded by the bank to 16.
In a written announcement released through its official Web site, the central bank said it will start trading in the Russian ruble, the Iranian rial, the Romanian leu and the Bulgarian lev. The decision was made taking into consideration Turkey’s relatively high foreign trade with these countries along with an increasing number of tourists coming from these four countries to Turkey.
read more
Source: Todays Zaman
Gold hits all-time highs in Euro and Sterling
April 9, 2010--The gold price hit a new all-time high in Euro and the British Pound yesterday as the debt crisis in Greece and concerns about a hung parliament in the UK weigh on the Euro and Pound, and demand for gold as an alternative currency continues to rise. The gold price surged to EUR 862oz yesterday, up 12% year-to-date and 30% over the past twelve months (11% and 24% in British Pounds), highlighting gold’s increasing use as a hedge not just against US dollar weakness, but sovereign risks more broadly.
Investment demand for gold has soared since the outbreak of the financial crisis in the second half of 2008. Total annual gold investment more than doubled in 2009 to $55bn from $25bn in 2008 according to GFMS data.
• Gold price surges to new all time highs in Euro (EUR 862/oz) and GBP (£754/oz)
• Gold rises to 3 month high of $1,157/oz today, less than 5% below its all time USD high, despite strength of US dollar
• Platinum and Palladium prices hit new post-crisis highs as ETF Securities’ physically-backed platinum and palladium ETF holdings rise to $1.6bn, up 80% YTD and up 900% since 31 December 2008
• ETF Securities’ gold holdings rise to $8.7bn at end 1Q 2010, the largest gold ETF holdings in Europe and a 64% increase over end 2008 levels
read more
Source: Commodities Now
Xetra – Ten Years as Leading Trading Venue for ETFs in Europe
651 listed ETFs with fund assets totaling €134.6 billion/ Blue-chip ETFs are the most liquid instrument group on Xetra
April 8, 2010--On 11 April 2000, Deutsche Börse became the first European stock exchange to start trading in exchange-traded index funds (ETFs) with its XTF segment. The segment has been growing on an ongoing basis ever since: with 651 listed ETFs of 14 providers, fund assets totaling €134.6 billion and an average monthly trading volume of €12.6 billion, Xetra is now by far the leading European trading venue for ETFs.
“As the number one ETF trading venue, Xetra offers private and institutional investors alike the largest product range in the whole of Europe, as well as highly liquid trading and, as a result, very favorable conditions. Issuers benefit from the international scope of our infrastructure and from the low-cost, comprehensive services offered by Xetra as a listing venue”, said Rainer Riess, Managing Director of Xetra Market Development at Deutsche Börse.
The first ETFs on Xetra were based on the European equity indices EURO STOXX 50 and STOXX Europe 50, as well as on the DAX. Today, ETFs on equities, bonds and commodities are available to private and institutional investors also when employing a variety of different strategies such as short, dividend yields or value/growth. Around €93 billion of the current fund assets totaling over €134 billion is invested in equity index ETFs. The iShares DAX ETF achieves the highest trading volume in the XTF segment by far with an average of €1.3 billion per month.
STOXX not only offered the first indices for ETFs in Europe, but has made an ongoing contribution to the development of the ETF segment with its broad range of innovative indices. The most recent example is the STOXX Europe 600 Optimised Marked Quartile index family, which was expanded to include four additional ETFs listed on Xetra this week. All in all, more than 30 percent of the ETF assets in Europe are invested in ETFs on STOXX indices. “Innovative indices and the ETFs launched on them offer a broad investor base cost-effective access to entire themes, sectors and markets, and allow for a whole range of strategies. Successful ETFs are based on transparent, strictly rule-based and tradable indices,” noted Hartmut Graf, head of Deutsche Börse's index business and CEO of STOXX Ltd.
In Europe, more than 40 percent of ETF trading volume goes through Xetra, a figure that is as high as around 95 percent as far as Germany is concerned. The liquidity bundled in this manner narrows the trading spreads and lowers trading costs. In 2009, the bid-ask spread for the 20 most liquid equity ETFs on Xetra averaged only 9 basis points, and came in at an average of 8 basis points in the first quarter of 2010. Blue-chip ETFs are the most liquid instrument group on Xetra.
Click here for an overview of further facts and figures on 10 years of ETF trading in Europe.
Source: Deutsche Börse
German industrial production stagnates
April 8, 2010--German government data show that industrial production in Europe's biggest economy stagnated in February -- but the outlook remains promising.
The Economy Ministry said Thursday that February's unchanged reading followed a month-on-month increase of just 0.1 percent in January. That was revised downward from an initial estimate of 0.6 percent.
read more
Source: Todays Zaman
EPEX Spot / EEX Power Derivatives: Power Trading Results in March 2010
April 8, 2010--In the framework of their cooperation, the European Energy Exchange AG (EEX) and the French Powernext SA integrated their Power Spot and Derivatives Markets in 2009.
In March 2010, a total volume of 103.9 TWh was traded on the joint subsidiaries EPEX Spot SE and EEX Power Derivatives.
Power trading on the day-ahead auctions on EPEX Spot accounted for a total of 22 667 777 MWh and can be broken down as follows:
read more
Source: EPEXSPOT
BME Creates A Fixed Income Electronic Trading Platform For Retail Investors - To Start On 10 May - It Will Be Called Sistema Electrónico De Negociación De Deuda (SEND)
April 8, 2010--Bolsas y Mercados Españoles (BME) has created, through its Fixed Income
Market (AIAF), an electronic trading platform for bonds geared to retails
investors, which will start operations on May 10th under the
name Sistema Electrónico de Negociación de Deuda (SEND).
The new
platform is a major step towards enhancing the transparency and liquidity of the
Spanish Corporate Debt Market.
Source: Online News
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