Europe ETP News Older Than 1 year-If your looking for specific news, using the search function will narrow down the results
ETF Securities launches ETCs covering cocoa, lead, tin and platinum
November 13, 2009-ETF Securities has expanded its commodity offering with the listing of four long ETCs offering exposure to cocoa, lead, tin and platinum on the London Stock Exchange.
The indices underlying the new ETCs are up an average of 44 per cent in the past 12 months.
With commodity ETC assets nearly tripling in 2009 and volumes doubling, ETF Securities is listing four new commodity ETCs as a response to investor demand for more extensive choice with regards to single commodity investing.
read more
Source: ETF Express
DB Index Research -- Weekly ETF Reports -- Europe
November 12, 2009--Highlights
Highlights
ETF Volume
Exchange based Equity ETF turnover remained at about the same level on the previous week. Daily turnover for the previous week was E1.5bn. European fixed income ETF turnover remained at about the same level at E184m, with money market ETFs continuing to be the main focus.
In exchange based bond ETFs, db x-trackers II EONIA TR Index ETF has the highest daily turnover of E18.96m. Among the Equity ETFs, iShares DAX (DE) has the highest daily turnover of E78.82m.
There were 65 listings in the last week. Comstage cross-listed 51 ETFs on the Swiss Stock Exchange. db x-trackers listed 2 new ETFs and cross listed 6 ETFs on Swiss Stock Exchange.
Xact Fonder AB listed 2 new ETFs on Stockholmborsen and Lyxor listed 4 new ETFs on London Stock Exchange.
European Style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of E450m accounting for 30.60% of total ETF turnover, followed by European Regional ETFs with total turnover of E394m with 26.77% of total turnover. The DAX ETFs remain the dominant country products with total average daily volume of E211m across the nine listed products and accounting for 14.3% of all equity ETF volume.
DJ Euro STOXX 50 ETFs accounted for 14.4% of turnover trading E212m per day with liquidity split across 26 ETFs and 46 different listings on 9 exchanges.
Market Share
The Deutsche Borse XTF platform has the largest market share with 38.1% of total turnover. The Euronext NextTrack platform has 21.8% market share. The LSE’s combined Italian Exchange and London market share is now 25.4%.
Assets under Management (AUM)
Total European Equity related AUM rose by 3.5% to E101.7bn during last week. AUM for DJ Euro STOXX 50 ETFs was E19.6bn accounting for 19.2% of total European AUM. Fixed Income ETF AUM declined by 1.3% to E33.5bn.
Overall, the largest ETF by AUM was the Equity based ETF, Lyxor ETF DJ Euro STOXX 50 with AUM of E5.0bn. The largest Fixed Income ETF by AUM was the iShares € Corporate Bond with AUM of E3.2bn.
To request a copy of the report click here
Source: Aram Flores and Shan Lan -DB Index Research
Deutsche Börse AG and SIX Group to Become Sole Shareholders of Index Provider STOXX Ltd.
Transaction to accelerate global expansion of shareholders’ index busine Parties to acquire Dow Jones & Company’s stake for €132.1 million plus earn-out; additional payment by STOXX of €74m to Dow Jones & Company for certain intellectual property rights Deutsche Börse to consolidate STOXX; SIX Group to lead new entity for index calculation Closing of transaction expected latest in Q1/2010
November 12, 2009--Deutsche Börse AG and SIX Group announced today that they have signed definitive agreements under which they will become sole operators of the Swiss index provider Stoxx Ltd. for a total consideration of €206.1m in cash, comprised of €132.1m for Dow Jones & Company’s one-third stake and €74m for certain intellectual property rights acquired by Stoxx. There will be the opportunity for Dow Jones & Company to earn up to a further €29.0m depending on business performance, with any payment to occur by mid 2011. The total consideration will be borne pro-rata by Deutsche Börse and SIX Group.
Currently Deutsche Börse, SIX Group and Dow Jones & Company each hold 33.33 percent of STOXX. Following the closing of the transaction Deutsche Börse will control STOXX through ownership of 50 percent plus one share and SIX Group will hold 50 percent minus one share in STOXX. Deutsche Börse will fully consolidate STOXX.
The transaction is subject to approval by the German antitrust authority as well as further customary closing conditions. Closing of the transaction is expected latest in the first quarter of 2010. Deutsche Börse plans to finance the transaction out of equity. The preferred source of equity financing is the retention of earnings.
Following the exit of Dow Jones & Company, STOXX now has the opportunity to grow globally and diversify its index business. The innovative strength of STOXX, the excellent brand and the high quality of the indices will serve as the basis for further expansion. The transaction will allow both Deutsche Börse and SIX Group to significantly expand their position in the international index business, complementing their established DAX and SMI index families. Through the combination of the index businesses as well as the infrastructures, the efficiency of index production will be increased. Direct access to the well known STOXX indices will also allow Deutsche Börse and SIX Group to utilize those indices to further strengthen their other joint activities, especially in the derivatives space within Eurex, as index-based products determine a major share of trading volumes in the derivatives markets. Consequently, the transaction is expected to create sustainable synergies in the long run.
As part of the transaction, SIX Group and Deutsche Börse intend to set up a new entity to perform index calculations, with SIX Group owning 50 percent plus 1 share. This entity is set to provide index calculation services, also for third-party customers; this will allow STOXX and its shareholders to capture operational synergies and to strive for globally leading industry standards in this field.
“This consolidation step in the area of index and market data complements our organic growth initiatives across the Group. A majority in STOXX provides us with the opportunity to capitalize on a strong index and data business also in other areas across the Group. Therefore, we believe the transaction creates sustainable value for our customers and shareholders”, said Reto Francioni, CEO of Deutsche Börse AG.
Urs Rüegsegger, CEO of SIX Group commented: "We are convinced that STOXX is about to become a truly global provider and leader in the indexing industry. Together with our partner Deutsche Börse we will now be able to focus on geographical and product-driven expansion and strengthen our market position in the ETF and derivative space and diversify the revenue streams."
Source: Deutsche Börse
Europe to formally exit recession
November 12, 2009--Europe's deepest recession since World War II should officially come to an end on Friday when the European Union publishes figures universally expected to show a collective return to growth.
Data particularly focused on the 16 countries that use the euro currency -- led by France and Germany, already out of the mire between April and June -- is tipped by analysts to show July-September growth of at least 0.5 percent.
read more
Source: EU Business
Oil ETC innovator ETF Securities extends world’s largest oil ETC platform with launch of ETFS Forward Crude Oil
ETFS Forward Crude Oil (“FCRU”) will track the DJ-UBS Crude Oil 3 Month Forward Sub-Index
The index has historically outperformed other enhanced oil indices over different time periods
ETFS Forward Crude Oil will complement world’s largest oil ETC platform of 14 oil ETCs
ETF Securities’ oil ETC platform hits $10bn of exchange traded volume for 2009 as oil ETC assets reach $1.4bn
November 12, 2009-- ETF Securities (ETFS), the award winning* oil ETC pioneer and global pioneer in Exchange Traded Commodities (Commodity ETCs) and 3rd generation Exchange Traded Funds (ETFs) will expand its oil ETC offering with the listing of ETF Forward Crude Oil (FCRU) later this week on the London Stock Exchange (LSE).
ETFS created the world’s first oil ETC with Shell Trading in July 2005. More than four years later, the ETFS oil ETC platform now enables investors to invest in oil through long, short, forward (from front month to 3 years) and leveraged ETCs, and to choose which part of the oil futures curve they would like exposure to. Investors also have the choice of being exposed to either ICE Futures’ Brent or NYMEX’s WTI, the world’s two most traded oil benchmarks. In addition, investors are able to gain exposure to oil equities through the ETFX Dow Jones STOXX 600 Oil & Gas Fund (OILG). ETFS launched the world’s first Commodity ETC platform in Europe between 2003 and 2006 accumulating over $15.8 billion in assets as of 9th November 2009.
ETFS Forward Crude Oil (FCRU) will track the DJ-UBS Crude Oil 3 Month Forward Sub-IndexSM, completing ETF Securities’ oil ETC platform of 14 oil ETCs. With 14 oil ETCs, ETF Securities has the world’s largest oil ETC platform and with $1.4bn assets and $220m of average weekly trading volume in oil ETCs since the beginning of the year (approx $10bn year-to-date), it provides investors with the largest choice and highest trading liquidity in oil ETCs in Europe. ETFS Crude Oil (CRUD), ETFS Brent 1mth (OILB) and ETFS Leveraged Crude Oil (CRUD) have consistently been in the top 10 traded ETCs/ETFs on the LSE over the past year.
| ETC | LSE Code | Exposure |
| ETFS Crude Oil | CRUD | DJ-UBS Crude Oil Sub-IndexSM |
| ETFS Forward Crude Oil | FCRU | DJ-UBS Crude Oil 3 Month Forward Sub-IndexSM |
| ETFS Short Crude Oil | SOIL | -100% of the daily % change in the DJ-UBS Crude Oil Sub-IndexSM |
| ETFS Leverage Crude Oil | LOIL | 200% of the daily % change in the DJ-UBS Crude Oil Sub-IndexSM |
| ETFS Brent 1mth | OILB | ICE Futures’ Brent oil 1st or 2nd month futures contract |
| ETFS Brent 1mth £* | OLBP | ICE Futures’ Brent oil 1st or 2nd month futures contract |
| ETFS Brent 1 yr | OSB1 | ICE Futures’ Brent oil contracts with an average maturity of approx. 1 yr |
| ETFS Brent 2 yr | OSB2 | ICE Futures’ Brent oil contracts with an average maturity of approx. 2 yrs |
| ETFS Brent 3 yr | OSB3 | ICE Futures’ Brent oil contracts with an average maturity of approx. 3 yrs |
| ETFS WTI 2 mth yr | OILW | NYMEX WTI oil 2nd or 3rd month futures contract |
| ETFS WTI 2 mth £* | OLWP | NYMEX WTI oil 2nd or 3rd month futures contract |
| ETFS WTI 1 yr | OSW1 | NYMEX WTI oil contracts with an average maturity of approx. 1 yr |
| ETFS WTI 2 yr | OSW2 | NYMEX WTI oil contracts with an average maturity of approx. 2 yrs |
| ETFS WTI 3 yr | OSW3 | NYMEX WTI oil contracts with an average maturity of approx. 3 yrs |
read more
Source: ETFS Securities
NASDAQ OMX Expands Norwegian Securities Offering
- Admits Four New Shares To Trading And Introduces CCP On All Norwegian Shares
November 12, 2009--NASDAQ OMX Stockholm AB, part of The NASDAQ OMX Group (NASDAQ:NDAQ), continues to expand and enhance its offering on Norwegian securities by admitting an additional four shares to trading, thus extending its offering to include the 30 largest Norwegian shares. The four new shares that will be tradable on NASDAQ OMX Stockholm as of November 20 are Tomra Systems, PA Resources, Atea and Cermaq.
On November 13, 2009, NASDAQ OMX Stockholm will be the first regulated exchange to offer Central Counterparty clearing (CCP) for trading of Norwegian equities, enabling significant cost, risk and liquidity advantages. CCP will be introduced for the 26 Norwegian shares that are currently admitted to trading on NASDAQ OMX Stockholm, and as of November 20, will also encompass the four new shares. CCP services will be provided by European Multilateral Clearing Facility (EMCF) and all clearing fees will be waived by EMCF until December 8, 2009, as part of their fee holiday.
In addition to offering CCP services, NASDAQ OMX in September introduced 15 Norwegian single-stock derivatives as well as a new tradable index - OMX Oslo 20 (OMXO20) - based on the 20 most liquid Norwegian shares. In October three Norwegian Exchange Traded Funds issued by XACT Fonder were admitted to trading on NASDAQ OMX Stockholm.
“We are very pleased with the development of our Norwegian market and are looking forward to further expanding our offering for customers interested in trading all Nordic securities on one market and through one trading system,” said Hans-Ole Jochumsen, President NASDAQ OMX Nordic. “We have had a steady inflow of new members connecting to this market and we feel comfortable reaching our goal of five percent market share in Norwegian securities by year-end.”
Source: NASDAQ OMX
Publication of the Eurosystem Oversight Report
November 12, 2009--The Eurosystem will publish today for the first time the Eurosystem Oversight Report. With this new publication, the Eurosystem seeks to inform public authorities, market infrastructure providers and their participants, as well as the general public, on the performance of its oversight function and its assessment of the safety and soundness of euro area payment, clearing and settlement infrastructures. The aim is to raise awareness regarding relevant developments in these infrastructures and the Eurosystem’s role in monitoring such developments and in addressing potential risks and inefficiencies.
The Eurosystem Oversight Report 2009 describes the performance of the Eurosystem’s oversight function in 2008, as well as the most relevant developments in 2009. It comprises three main chapters. Chapter 1 provides an overview of the Eurosystem’s oversight function, focusing on the institutional framework, the main Eurosystem oversight standards and requirements, and the practical arrangements for conducting system oversight and cooperation. Chapter 2 provides information on the Eurosystem’s oversight activities, including standard-setting, monitoring and assessment, and analysis of selected topics. Chapter 3 reports on future work priorities. In response to the lessons drawn from the financial market turmoil, the Eurosystem expects to devote particular attention to the role of overseers in the forthcoming financial architecture, as well as to market infrastructures and oversight arrangements for over-the-counter derivatives, especially for the euro-denominated market segments. In addition, the Eurosystem intends to further develop its role with regard to securities settlement systems and central counterparties.
View Eurosystem Oversight Report 2009
Source: European Central Bank
Turkey's largest commercial bank granted license to operate from DIFC
Becoming the first commercial Turkish Bank to join the DIFC community
November 12, 2009--Akbank, Turkey’s most valuable bank and company in terms of market capitalization, has received a license to operate from the Dubai International Financial Centre (DIFC).
The Dubai office is named Akbank (Dubai) Ltd. and is the first Turkish Bank to set up at the DIFC. It aims to become one of the preferred consultants in Investment Banking & Corporate Finance in the region by leveraging the expertise and knowledge of its parent company and its local staff in the Dubai office. It will be headed by Mr. Cem Atac, who has vast experience in the banking sector throughout the region.
Abdulla Mohammed Al Awar, CEO, DIFC Authority said, “DIFC is the ideal gateway for Akbank to launch its operations in the region, particularly as Turkish-GCC business relations continues to grow positively. We are delighted to welcome Akbank to the DIFC family, and look forward to a fruitful relationship that will bring these two high-potential markets closer together. The move is proof-positive that Dubai and Turkey have remained largely resilient during the ongoing global economic crisis, and re-affirms the vast potential in region.”
“We are pleased to launch our operations in Dubai which has proven to be a highly dynamic city replete with opportunity. Its geographical positioning makes it vital in international business, hence our strategic decision to open offices in DIFC, which is the ideal hub for the growth opportunities we seek. Akbank will be reaching towards both the West and the East with its best-in-class banking services. Akbank NV (Netherlands) is our base in the West and our Dubai Office will be the center in the East,” stated Suzan Sabancý Dinçer, Chairman and Executive Board Member of Akbank.
The core competence of Akbank Dubai will be its ability to intermediate in Mergers & Acquisitions, manage IPO’s and dual listings of Turkish companies. It will also act as placement agent or arranger of funds, give advice on financing long/medium term projects and provide private banking services.
“Akbank Dubai aims to act as a catalyst in the development of enhanced economic cooperation and dialogue between Turkey and the GCC, serving the needs of its clients both in the region and in Turkey, by offering the highest professional standards,” commented Mr. Atac, Senior Executive Officer of Akbank (Dubai) Ltd.
Akbank’s successful performance was recently awarded by prestigious international publications such as Euromoney and Global Finance. Euromoney recognized Akbank as “The Best Bank of Turkey” under “Awards of Excellence - 2009” in July 2009. Global Finance also selected Akbank as “Turkey’s Best Bank”, “Best FX Bank” and “Best Trade Finance Bank” in 2009.
Source: Dubai International Financial Centre (DIFC).
ETF Statistics October 2009-London Stock Exchange
November 12, 2009--The ETF Statistics October 2009 are available.
view report
Source: London Stock Exchange
Calyon to Expand Commodity Team; May Add Exchange-Traded Funds
November 12, 2009-- Calyon, the investment-banking arm of Credit Agricole SA, is expanding its commodities group and may introduce exchange-traded funds as investor demand for raw materials strengthens.
The commodities team has 70 so-called front office workers, which includes traders, analysts and sales people, said Martin Fraenkel, global head of commodities. He didn’t say how many the bank would hire. A venture with EDF Trading Ltd., which started this month, is adding 12 people by the end of the year, he said.
read more
Source: Bloomberg