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ETF Securities Precious Metals Weekly: Gold rises even as Boerse Stuttgart reports turnover of around EUR 7 billion in October
Significant increase in debt instrument trading/Corporate bonds and German Bunds in demand
November 1, 2012--Boerse Stuttgart's order book statistics show that its turnover reached around EUR 7 billion in October 2012. The trading volume therefore fell slightly month on month.
At around EUR 3.2 billion, securitised derivatives accounted for the largest share of turnover in October. This means that the transaction volume was around 10 percent below the previous month’s figures in a generally weak market environment. On the whole, the volume of investment products traded at Boerse Stuttgart stood at more than EUR 1.9 billion. Leverage products contributed around EUR 1.3 billion to the total turnover.
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Source: Boerse Stuttgart
Lyxor switches to FTSE for its Global Real Estate Indices
November 1, 2012--Lyxor, a leader in innovative asset management and the third largest ETF provider in Europe (by AUM) , has chosen to replace the indices it uses as the basis for its Global Real Estate ETFs, switching to the FTSE EPRA/NAREIT Developed Global Real Estate indices. FTSE EPRA/NAREIT benchmarks are the leaders in the listed real estate sector globally.
Francois Millet, Head of Business Development – Indexing at Lyxor, said "We have chosen to replace MSCI Real Estate Index with FTSE EPRA/NAREIT because of its high standards of investability and transparency. Further, FTSE EPRA/NAREIT indices are the most widely used global benchmarks for listed real estate and are endorsed by the leading real estate industry associations.” These indices will support Lyxor’s planned growth within the real estate ETF market. “Choosing the right index partner is an important part of providing high quality products" said Millet.
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Source: FTSE
Average daily volume of 7.6 million contracts at Eurex Group in October
November 1, 2012-- In October 2012, the international derivatives markets of Eurex Group recorded an average daily volume of 7.6 million contracts (October 2011: 10.7 million).
Of those, 5.3 million were Eurex Exchange contracts (October 2011: 7.3 million), and 2.4 million contracts (October 2011: 3.4 million) were traded at the U.S.-based International Securities Exchange (ISE).
At Eurex Exchange, the equity index derivatives segment totaled 54.0 million contracts (October 2011: 82.3 million). The single largest contract was the future on the EURO STOXX 50 Index with 22.0 million contracts. The option on this blue chip index totaled 20.8 million contracts. Futures on the DAX index recorded 2.7 million contracts while the DAX options reached another 3.6 million contracts. The Eurex KOSPI Product recorded 2.0 million contracts.
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Source: Eurex
ESMA publishes its opinion on the emergency measure by the Greek HCMC under the Short Selling Regulation
November 1, 2012--The European Securities and Markets Authority has published its Opinion on the emergency measure by the Greek HCMC under the Short Selling Regulation.
ESMA Opinion
ESMA is adopting the following opinion on the notified measure, on the basis of Article 27(2) of Regulation 236/2012 on Short selling and certain aspects of credit default swaps:
On the adverse events or developments ESMA considers that there are adverse developments which constitute a serious threat to financial stability and to market confidence in Greece.
On the appropriateness and proportionality of the measure ESMA considers that the measure is appropriate and proportionate to address the above-mentioned threats that persist in Greece.
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Source: ESMA
ESMA publishes its opinion on the emergency measure by the Spanish CNMV under the Short Selling Regulation
November 1, 2012--The European Securities and Markets Authority has published its Opinion on the emergency measure proposed by the Spanish CNMV under the Short Selling Regulation.
Opinion
ESMA is adopting the following opinion on the notified measure, on the basis of Article 27(2) of Regulation 236/2012 on Short selling and certain aspects of credit default swaps:
On the adverse events or developments ESMA considers that there are adverse developments which constitute a serious threat to financial stability and to market confidence in Spain.
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Source: ESMA
Xetra orderbook turnover at 84 billion euros in October
November 1, 2012--Order book turnover on Xetra and the Xetra Frankfurt specialist trading stood at €88.7 billion in October-a decrease by 19 percent year-on-year (October 2011: €109.5 billion).
Of the €88.7 billion, €84.1 billion were attributable to Xetra – a decrease by 20 percent y-o-y (October 2011: €104.6 billion). €4.6 billion were attributable to the Xetra Frankfurt specialist trading – a decrease by 7 percent y-o-y (October 2011: €5.0 billion). Order book turnover on Tradegate Exchange* totalled approximately €2.6 billion in October.
In equities, turnover reached €76.5 billion on Deutsche Börse’s cash markets (Xetra: €74.8 billion, Xetra Frankfurt specialist trading: €1.7 billion). Turnover in bonds was €2.0 billion, and in structured products on Scoach €1.6 billion. Order book turnover in mutual funds and exchange-traded funds (ETFs) amounted to €8.7 billion.
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Source: Deutsche Börse
User's guide related to the net short position notification in accordance with Regulation (EU) no.236/2012 on short selling and certain aspects of credit default swaps
October 31, 2012--User's guide related to the net short position notification in accordance with Regulation (EU) no.236/2012 on short selling and certain aspects of credit default swaps
As referred to in the AMF press release of 17 October 2012 about the Short Selling Regulation, the AMF has
published a document describing the new reporting system for short positions. This new system will be available
as of 1st November 2012.
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Source: AMF
Exchange Traded Product (ETP) Entrepreneurs to launch new independent platform "BOOST ETP"
October 31, 2012--Today sees the official launch of an exciting new entrant into the Exchange Traded Fund/Product market, BOOST ETP.
BOOST's founders and owners are Hector McNeil and Nik Bienkowski who have been in the European ETP market since its genesis.
McNeil and Bienkowski were Managing Partners at ETF Securities (ETFS). They were instrumental in growing ETFS from $50 million of AUM to $22 billion when they left in September 2010 and October 2010 respectively. Both are still significant shareholders at ETFS, the world's leading Exchange Traded Commodities (ETC) provider.
The opportunity to launch one of only a few European independent ETP issuers has arisen from the significant changes currently affecting the ETP world. In a market dominated by large investment banks and diversified financial institutions significant questions are being asked about their respective ETP business models. Investors and regulators have been looking for more transparency around practices such as stock lending, collateral management and use of in-house hedging techniques. As a result innovation has slowed and is expected to slow further due to funding cuts, bank's requirements to reduce staff numbers and non-core assets. This has left a significant opportunity for an independent, nimble and focused player such as BOOST.
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Source: BOOST
UBS keeps quiet on future of asset management division
October 31, 2012--UBS has declined to comment on the future of its asset management business after the Swiss bank announced the closure of its investment bank's fixed income arm.
The closure, announced yesterday as part of the bank's third-quarter results, comes as UBS seeks to "exit lines of business that do not meet their cost of capital sustainability".
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Source: IP&E
DB-Synthetic Equity & Index Strategy-Europe-ETF Research-European Weekly ETF Market Review
October 31, 2012--Attached is the most recent issue of the European Weekly ETF Market Review. The report includes key statistics on the European ETF market as well as global ETF market highlights.
For more detailed coverage please refer to our monthly report, issued in the first week following the end of each month.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-Europe-ETF Research
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