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ESMA proposes delay to reporting date for Exchange Traded Derivatives
August 8, 2013--The European Securities and Markets Authority (ESMA) has sent the European Commission a Final Report proposing an amendment to Article 5 of the Commission Implementing Regulation (EU) No.1247/2012 (ITS on reporting) on the format and frequency of reporting to trade repositories under EMIR.
The amendment relates specifically to the reporting of exchange traded derivatives (ETDs) and proposes postponing the reporting start date by one year.
Background
Article 5 regards the reporting start date of derivatives to trade repositories, however the current dates do not include a specification of ETDs. This specification would be useful as there is a risk currently that reporting of ETDs is not harmonised unless further regulatory guidance is issued. Based on the need to ensure the consistent implementation of EMIR, ESMA considered that guidelines and recommendations should be developed in relation to this issue.
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Source: ESMA
Updated EMIR Q&A
August 5, 2013--Questions and Answers: Implementation of the Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR)
view the Questions and Answers-Implementation of the Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR)
Source: ESMA
Trading tax hits French, Italian stock turnover
France, Italy taxes have caused slide in market share
YTD share trade in both down 10 pct vs 14 pct broad uplift
Both countries to take in less money than expected
Nine other countries likely to start tax from 2014
August 2, 2013--The launch of financial transaction taxes in France and Italy has hit demand for stocks, offering a glimpse of the impact a pan-European levy might have on a recovery in market volumes.
European monthly trade as a whole is up 14 percent in 2013 from 2012, helping drive profits across investment banking. But French and Italian turnover is down 10 percent.
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Source: Reuters
Boerse Stuttgart reports July turnover in region of EUR 6.7 billion
Growth in trading of equities and debt instruments // Strong demand for emerging market bonds
According to its order book statistics, Boerse Stuttgart generated turnover of around EUR 6.7 billion in July 2013. As such, the volume of trades was slightly down on the figure for the preceding month.
Trading in securitised derivatives accounted for the largest share of turnover, with an overall volume in excess of EUR 2.9 billion. The total volume of leverage products traded in July was about EUR 1.2 billion. Investment products contributed around EUR 1.8 billion to the total transaction volume.
July turnover in debt instrument trading came to around EUR 2 billion, a month-on-month increase in the region of 18 percent. Particularly strong growth was registered in the traded volume of emerging market bonds, which rose by over 29 percent compared to the figure for June.
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Source: Boerse Stuttgart
ESMA issues Opinion on practical arrangements for the late transposition of the AIFMD
August 1, 2013--The European Securities and Markets Authority (ESMA) has published an Opinion on arrangements for the late imposition of the AIFMD
view the OPINION-Practical arrangements for the late transposition of the AIFMD
Source: ESMA
Xetra/FWB: Turnover at Deutsche Boerse's cash markets at 98.5 billion euros in July
August 1, 2013--Order book turnover on Xetra, the Frankfurt Stock Exchange and Tradegate stood at €98.5 billion in July (July 2012: €95.8 billion). Of the €98.5 billion, €90.9 billion were attributable to Xetra (July 2012: €88.3 billion).
€4.1 billion were attributable to the Frankfurt Stock Exchange (July 2012: €4.7 billion). Order book turnover on Tradegate Exchange* totalled approximately €3.5 billion in July (July 2012: €2.8 billion).
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Source: Deutsche Börse
NYSE Euronext launches the AEX(R) Ext index
July 31, 2013--NYSE Euronext (NYX) is extending its successful range of indices with the addition of the AEX® Ext index.
The new index tracks the market's benchmark AEX-Index(R), but with extended calculation and distribution hours, from 8.00 am to 6.30 pm CET compared with 9.00 am to 5.30 pm CET for the AEX-Index(R). The AEX(R) Ext index is calculated on the basis of the AEX-Index(R) future traded on NYSE Liffe (FTI), adjusted for dividends and interest payments.
The AEX(R) Ext index enables investors to track trends in the AEX-Index(R) outside normal trading hours, and to take positions at pre-market and after-hour sessions on NYSE Euronext's regulated European market. The AEX(R) Ext is the second extended index launched by NYSE Euronext, after the launch of the CAC 40(R) Ext last month.
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Source: NYSE Euronext
Boost ETP trades a record $57m notional value last Friday
Boost EURO STOXX 50 3x Short Daily ETP (3EUS) traded $57m notional value in one single trade, highlighting the liquidity of ETPs
Trading volumes for BOOST ETPs continue to rise as investors seek transparent and robust products
Global demand for Short and Leveraged ETPs outstrips unleveraged ETPs in 2013, as S&L trading volumes rise 71% and AUM rises 15%
July 31, 2013--BOOST expands ETP platform by offering investors a wide selection of Gold, Silver, Natural Gas and UK equities (FTSE 100 and FTSE 250) through its product range
BOOST ETP, the award winning and independent exchange traded product (ETP) provider is experiencing rising investor demand for its robust and transparent Short & Leverage (S&L) ETPs. Last Friday, 26 July 2013, a single investor traded $19 million of Boost EURO STOXX 50 3x Short Daily ETP (3EUS) which is the equivalent to a total notional exposure value of $57 million.
Over the past two weeks, up to Friday 26 July, 3EUL (Boost EURO STOXX 50 3x Leverage Daily ETP) has risen 7.9%, outperforming other 3x leverage equity ETPs on the BOOST platform by at least 5.7%. Given recent US earnings news and the potential for Eurozone equity earnings to underperform in comparison, we believe this large short position executed using BOOST’s 3EUS on Friday was positioned for this news flow*.
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Source: Boost
ECB-Euro Area Economic and Financial Developments by Institutional Sector-First Quarter
July 30, 2013-In the first quarter of 2013 the annual growth rate1 of household gross disposable income
turned positive (0.4%), after negative growth (-0.6%) in the fourth quarter of 2012.
The annual growth rate of household consumption expenditure was -0.2% in the first quarter, compared with 0.4% in the fourth quarter. Reflecting these developments, the annual growth rate of household gross saving increased to 5.1% in the first quarter, from -7.3% in the fourth quarter. The household gross saving rate2 was 12.8% in the first quarter
of 2013, compared with 13.1% in the first quarter of 2012
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Source: ECB
DB-Synthetic Equity & Index Strategy-Europe-ETF Research-European Weekly ETF Market Review
July 30, 2013--The most recent issue of the European Weekly ETF Market Review is now available.
The report includes key statistics on the European ETF market as well as global ETF market highlights. For more detailed coverage please refer to the monthly report, issued in the first week following the end of each month.
request report
Source: Deutsche Bank -Synthetic Equity & Index Strategy -Europe
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