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NLX shows buds of growth
June 7, 2013--In its first week of operation, new European listed derivatives trading venue Nasdaq OMX NLX has shown an initial steady growth in trading volumes.
Since launching last Friday, the venue has facilitated the execution of 56,056 lots, with the highest daily figure occurring on Wednesday when trading volumes reached 16,379 lots, according to NLX's own figures.
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Source: The Trade
Markets calm, yet remain vulnerable to political tension
June 7, 2013--Turkish Prime Minister Recep Tayyip Erdoğan could have helped to cushion a sharp decline in markets on his return to İstanbul early Friday as investors held their breath waiting for a reassuring message amidst heated anti-government protests, but he didn't.
Nevertheless, Turkish markets and lira enjoyed a slight but critical recovery on Friday from significant losses through the entire week. Analysts believe Friday's recovery in markets translates into increased resilience in Turkish markets; however, the threat is not far away in the face of a turbulent political atmosphere.Market analysts describe the developments over the past week as “unique and new” to Turkey, underlining foreign investors will spend the next week trying to grasp what is really happening inside the country. Around 65 percent of shares on Bourse İstanbul (BIST) are traded by foreign investors.
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Source: Todays Zaman
STOXX-Component Changes made to Select Dividend Indices
Changes are due to fast exit rule
June 7, 2013--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced component changes in the STOXX Global Select Dividend 100 Index due to the fast exit rule.
Component changes will become effective with the open of markets on June 24th, 2013.
STOXX Global Select Dividend 100 Index In the Asia/Pacific portion of the STOXX Global Select Dividend 100 Index, the following changes will take place:
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Source: STOXX
The European ETF Market: Review Q1-2013- Recent Trends & Challenges Ahead -from Lipper
June 7, 2013--The European ETF industry appears to be in good shape, according to the latest Lipper analysis.
Highlights follow below:
Assets under management (AuM) grew by 38.89 billion Euros, 14.37%, over the twelve month period (31.03.2012-31.03.2013) up to 309.48 billion Euros and by 4.36% or 12.92 billion Euros during Q1 2013.
The number of ETFs (across all share classes) increased by 22 to 1782. Even with the broad variety of funds available for investors in Europe, the European ETF market is highly concentrated in terms of assets under management; only 54 of the 1782 ETFs hold assets above 1 billion Euros.
As expected the majority of these funds are equity funds (32), followed by bond funds (11), commodity funds (8 gold, 1 silver), as well as money market funds (1) and real estate linked equity funds (1).
The largest ETF in Europe is the iShares DAX, which holds 4.45% of the overall AuM.
The top 10 ETFs by assets under management account for 24.47% of the overall AuM, while the 54 ETFs with more than one billion Euros in assets under management account for 51.70% of the overall AuM.
“The number of new ETFs in Q1 2013 is rather small compared with launch activity over the last five years. But as the number of fund launches has decreased since Q3-2012, the launch pattern for European ETFs might have changed in general. One reason could be reflected in the high number of asset classes already covered by ETFs, leaving only a few untapped opportunities on the ETF landscape which have yet to be covered."
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Source: Lipper
Borsa Italiana: ETF Stat May 2013
June 7, 2013--The ETF Stat Report May 2013 of the Borsa Italiana is now available.
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Source: Borsa Italiana
ESMA publishes updated Q&A on EMIR Implementation
June 6, 2013--Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories ("EMIR") entered into force on 16 August 2012.
Most of the obligations under EMIR needed to be specified further via regulatory technical standards and they will take effect following the entry into force of the technical standards. On 19 December 2012 the European Commission adopted without modifications the regulatory technical stand-ards developed by ESMA. These technical standards were published in the Official Journal on 23 Feb-ruary 2013 and enter into force on 15 March 2013.
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Source: ESMA
ESMA and the EBA publish final principles on benchmarks
June 6, 2013--The European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) have published their final report setting out their Principles for Benchmark-Setting Processes in the EU.
The Principles are designed to address the problems identified with benchmark-setting processes and will provide benchmark users, administrators, calculation agents, publishers and data submitters with a common framework for carrying out these activities. The application of the Principles will also help in the transition to any potential future EU legal framework for benchmarks.
view the Final Report-ESMA-EBA Principles for Benchmark-Setting Processes in the EU
Source: ESMA
BATS Chi-X Europe Sets New Records In Spain, Sweden And Depositary Receipts Trading In First Month As Recognised Investment Exchange
U.S. Equities Market Share 10.4%; U.S. Options 3.8%
June 6, 2013--BATS Global Markets (BATS) today reported that BATS Chi-X Europe set a monthly market share record of 14.0% for Spain's IBEX 35 while also establishing a one-day record of 34.6% in Sweden's OMXS30 Index.
BATS Chi-X Europe also earned 8.1% market share in Depositary Receipts (DR) trading, exceeding its previous record of 7.1% set last month.
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Source: BATS Global Markets, Inc.
Market losses continue, bond yields surge after PM's remarks on protests
June 6, 2013--June 6, 2013--Turkey's main benchmark index and the domestic currency continued to plunge after a one-day recovery due to ongoing violent street protests over an urban development program in the country's financial capital İstanbul.
The losses mainly stemmed from statements by Prime Minister Recep Tayyip Erdoğan late on Thursday when he was expected to soften his position on the protests but failed to. The Bourse İstanbul was down 4,7 percent through the end of the afternoon session on Thursday at 75.895, its lowest in more than two months. The Turkish lira lost value against the US dollar and the euro. One US dollar was traded at TL 1.89 and a euro at TL 2.48. Turkey's benchmark two-year yield surged 28 basis points to 6.70 percent. Thursday also saw this week's second-worst decline in markets after Monday's more-than-10-percent loss.
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Source: Todays Zaman
New services launched to support trading in VSTOXX derivatives
VSTOXX Advanced Services available on Eurex website since 6 June
June 6, 2013--Effective today, the international derivatives market Eurex Exchange is offering new research tools via its website enabling interested investors to obtain a comprehensive insight into the world of analysis, valuation and trading of volatility derivatives.
The VSTOXX Advanced Services offering is primarily aimed at portfolio managers, proprietary traders, client traders, and brokers, as well as risk managers and institutional investors, all of whom can hedge their portfolios much better with the volatility derivatives listed on Eurex Exchange.
Source: Eurex
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