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Two new ETFs launched on the ISE
USD listed on the Istanbul Stock Exchange
May 3, 2012-Finansbank launched two new Exchange Traded Funds on the Istanbul Stock Exchange: DOLAR and GUMUS. DOLAR, Turkey's the first currency ETF, offers the performance of the USD/TRY exchange rate performance to investors. With DOLAR, investors are now able to trade the USD/TRY exchange rate on the Istanbul Stock Exchange with a narrow spread.
Institutional investors are now eligible to trade USD/TRY as DOLAR ETF converts a money market instrument into a capital market instrument. Furthermore, investors do not have to wait until T+2 to convert their equity exposure to USD and/or their USD exposure to equities.
GMSTR - Turkey's first Silver ETF
Finansbank, the first issuer of the Istanbul GOLD ETF on the Istanbul Stock Exchange, has listed GUMUS, the first silver ETF. GUMUS invests in physical silver with more than 99% of its assets in silver. Physical silver in the GUMUS portfolio meets international standards and is held at the Istanbul Gold Exchange on behalf of the fund. GUMUS is traded in Turkish Lira, but tracks the performance of international ounce price of silver; therefore, investors seeking silver exposure do not carry any currency risk.
BNKTR was the worst performing ETF in April
BNKTR, which tracks the Turkey Large-Cap Banks Index consisting of the six bank equities with the highest market capitalization, declined by 6.33% in TRY terms due to investors' decreasing risk appetite (in US$ terms BNKTR declined by 5.04%) and underperformed the ISE-30 Index (which had a 5.11% negative return), yet outperformed the XBANK index (with a 7.35% negative return). With this month’s decline in Ytd returns, the ETF has lost its leading position, yet the ETF has still posted a relatively strong performance so far this year, with a 16.50% gain.
FBIST yielded 0.81% last month
FBIST, the first fixed income ETF in Turkey and Developing Europe, yielded a 0.81% return in April and became one of three ETFs to yield a positive return. On the other hand, the ETF only mustered up a single digit yield in Ytd terms (5.80%).
Source:FinansInvest Research
db x-trackers bond index ETFs on euro zone and German government bonds launched on Xetra
May 3, 2012--Three new exchange traded funds issued by db x-trackers II, a subsidiary of Deutsche Bank, have been tradable in the XTF segment on Xetra since Thursday.
ETF name: db x-trackers II Eurozone Sovereigns Double Long Daily ETF
Asset class: bond index ETF
ISIN: LU0621755080
Total expense ratio: 0.30 percent
Distribution policy: non-distributing
Benchmark: Deutsche Bank Eurozone Sovereigns Double Long Daily Index
ETF name: db x-trackers II Eurozone Sovereigns Double Short Daily ETF
Asset class: bond index ETF
ISIN: LU0621755676
Total expense ratio: 0.30 percent
Distribution policy: non-distributing
Benchmark: Deutsche Bank Eurozone Sovereigns Double Short Daily Index
ETF name: db x-trackers II iBoxx € Germany 7-10 TRI ETF
Asset class: bond index ETF
ISIN: LU0730820569
Total expense ratio: 0.15 percent
Distribution policy: distributing
Benchmark: iBoxx € Germany 7-10 Index
The db x-trackers II Eurozone Sovereigns Double Long Daily ETF and db x-trackers II Eurozone Sovereigns Double Short Daily ETF enable investors for the first time to participate with a leverage factor of two in the positive or inverse performance of government bonds issued by euro zone countries.
The db x-trackers II iBoxx € Germany 7-10 TRI ETF offers investors access to the government bond market of the Federal Republic of Germany with the opportunity to react to interest rate expectations within the maturities of seven to ten years.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 968 exchange-listed index funds, while the average monthly trading volume stands at €12 billion.
Source: Xetra
STOXX Monthly Index Report -April 2012 In Review
As of April 30, 2012 stock market indices in Europe, Asia, the U.S. and globally were up as well as down in April, according to global index provider STOXX Limited.
For the month of March, the Europe, Asia, global markets were down -1.88%, -2.08% and -0.48%, respectively; while the U.S. markets were up 0.47%. The full performance report is below.
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Source: Mondovisione
Average daily volume of 10.9 million contracts at Eurex Group in April
May 2, 2012-- In April 2012, the international derivatives exchanges of Eurex Group recorded an average daily volume of 10.9 million contracts (April 2011: 10.5 million).
Of those, 8.3 million were Eurex Exchange contracts (April 2011: 7.6 million), and 2.6 million contracts (April 2011: 2.9 million) were traded at the U.S.-based International Securities Exchange (ISE). In total, 156.9 million contracts were traded at Eurex Exchange and 52.0 million at ISE. This makes April the best month in terms of trading volumes in 2012.
Eurex Exchange traded 64.6 million equity index derivatives contracts (April 2011: 49.9 million). The single largest contract was the future on the EURO STOXX 50® Index with 26.1 million contracts. The option on this blue chip index totaled 25.1 million contracts. Futures on the DAX index recorded 3.0 million contracts while the DAX options reached another 4.2 million contracts. The Eurex KOSPI Product recorded 3.0 million contracts, an ADV of 157,000 contracts.
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Source: Eurex
Trading turnovers in April-95 billion euros turnover on Xetra
May 2, 2012--Order book turnover on Xetra and the Xetra Frankfurt specialist trading stood at €99.2 billion in April-a decrease by 8 percent year-on-year (April 2011: €108.3 billion).
Of the €99.2 billion, €94.6 billion were attributable to Xetra – a decrease by 8 percent y-o-y (April 2011: €102.6 billion). €4.6 billion were attributable to the Xetra Frankfurt specialist trading, an 18 percent decrease y-o-y (April 2011: €5.6 billion). Order book turnover on Tradegate Exchange* totalled approximately €2.7 billion in April.
In equities, turnover reached €84.2 billion on Deutsche Börse’s cash markets (Xetra: €82.3 billion, Xetra Frankfurt specialist trading: €1.9 billion). Turnover in bonds was €1.5 billion, and in structured products on Scoach €1.6 billion. Order book turnover in mutual funds and exchange-traded funds (ETFs) amounted to €11.9 billion.
A total of 17.2 million transactions were executed on Xetra in April, an increase of 11 percent y-o-y (April 2011: 15.5 million).
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Source: Xetra
EEX launches Derivatives Market for EUAA and ERU-CF Partners new Liquidity Provider
May 2, 2012--On 30 April 2012, the European Energy Exchange (EEX) launched the Derivatives Market for EU Aviation Allowances (EUAA). Thus, EEX expands its product range with emission allowances which can be used by airlines for compliance purposes.
In parallel, trading in futures on Emission Reduction Units (ERU) was launched on Monday. The first trading transaction (25,000 ERU at a price of EUR 3.64 per ERU) was concluded today between ČEZ and Citi.
With the introduction of the new products, EEX has also gained a new Liquidity Provider. CF Partners will support liquidity on the market for EUA Futures (first three front years), CER Futures (first two front years) and EUAA Futures (first two front years). CF Partners is an advisory, trading and investment firm specialising in renewables, commodities and the energy market.
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Source: EEX
On the occasion of the first trading day of "U.S. Treasury USDTRY Exchange Traded Fund" which, is founded by Finans Asset Management, the executives and guests of the relevant company will visit İMKB (İstanbul Menkul Kıymetler Borsası)
and ring the opening bell
May 2, 2012--On the occasion of the first trading day of U.S. Treasury USDTRY Exchange Traded Fund, which is founded by Finans Asset Management, the executives and guests of the relevant company will visit ÌMKB (Ìstanbul Menkul Kıymetler Borsası) and ring the opening bell of the Stock Market on May 2, 2012.
Mr. İbrahim TURHAN, İMKB Chairman & CEO, Mr. Ömer A. ARAS, Chairman and Group CEO of Finansbank A.Ş, Mr. C. Özgur GÜNERİ, CEO of Finans Asset Management and Mr. Zafer ONAT CEO of Finansinvest A.Ş. will deliver speeches, following which the officials will ring the opening bell and start the session at 09:30.
The participation certificates of “U.S. Treasury USDTRY Exchange Traded Fund” will start to be traded on the İMKB Collective Products Market under the ticker symbol “USDTR” and the ceremony will be open to the press.
Source: Istanbul Stock Exchange
Eurozone manufacturing heads towards recession: Markit
May 2, 2012--Gloom over eurozone manufacturing deepened in April, highlighting the impact of policies to control budgets and signalling recessionary pressures, a Markit survey showed on Wednesday.
A key index of activity based on a survey by Markit fell to almost the lowest level for three years.
Markit publishes closely watched leading indicators of economic activity and in its latest survey for its purchasing managers' index the firm said: "The eurozone manufacturing downturn took a further turn for the worse in April."
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Source: EUbusiness
Deborah Fuhr: happy twelfth birthday ETFs
May 2, 2012--A review of the exchange traded fund (ETF) industry in Europe seemed appropriate as April marked the twelfth anniversary of the first ETF in Europe.
In April 2000 the first ETFs launched in Europe were the iShares DJ STOXX 50 listed on the Deutsche Börse on 11 April 2000, followed by the iShares FTSE 100 on the London Stock Exchange on 28 April 2000. The first two ETFs were originally branded as ‘LDRS’, sponsored by Merrill Lynch International and later acquired by iShares in September 2003.
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Source: City Wire
European ETF/ETP industry as at end of April 2012 -Preliminary findings
May 2, 2012--Summary for European listed ETFs
At the end of April 2012, the European ETF industry had 1,295 ETFs, with 4,579 listings, assets of US$291.0 Bn, from 37 providers on 21 exchanges.
Assets
ETF assets have decreased by 3.4% from US$301.3 Bn in March 2012 to US$291.0 Bn in April 2012.
YTD through end of April 2012, ETF assets have increased by 8.8% from US$267.6 Bn to US$291.0 Bn.
Flows
In April 2012, ETFs saw net outflows of US$4.7 Bn. Equity ETFs experienced net outflows of
US$5.2 Bn, resulting primarily from ETFs tracking European indices with US$5.0 Bn net outflows. Fixed income ETFs gathered net inflows of US$228 Mn, where US$407.7 Mn went into government bond ETFs, while money market ETFs saw net outflows of US$731.7 Mn. Commodity ETFs gathered net inflows for the month of US$126.5 Mn, of which US$237.3 Mn went into ETFs providing exposure to precious metals, while ETFs tracking agriculture, energy, industrial metals and broad commodity indices experienced net outflows totalling a combined US$110.8 Mn.
YTD through end of April 2012, ETFs saw net inflows of US$1.5 Bn. Commodity ETFs gathered US$1.2 Bn net inflows, of which US$1.0 Bn went into ETFs providing exposure to precious metals. Fixed income ETFs saw net inflows YTD of US$1.1 Bn, of which US$2.6 Bn went into corporate bond ETFs, while government bond ETFs experienced US$1.2 Bn net outflows. Equity ETFs saw net outflows of US$1.9 Bn YTD, with US$6.8 Bn net outflows from ETFs tracking European equity indices, while US$2.9 Bn net inflows went into ETFs tracking emerging market equity indices.
YTD through end of April 2012, leveraged inverse ETFs gathered net inflows of US$0.4 Bn, inverse ETFs experienced US$0.2 Bn net inflows, while leveraged ETFs saw net outflows of US$0.4 Bn.
ETFlab Investment gathered the largest net inflows in April with US$0.6 Bn, followed by Source Markets with US$0.4 Bn and Credit Suisse Asset Management with US$0.3 Bn net inflows.
Source Markets gathered the largest net inflows YTD with US$1.5 Bn, followed by UBS Global Asset Management with US$1.2 Bn and ETFlab Investment with US$0.8 Bn net inflows.
iShares experienced the largest net outflows in April with US$4.3 Bn.
db x-trackers experienced the largest net outflows YTD with US$1.4 Bn, followed by Commerzbank with US$0.6 Bn and EasyETF with US$0.6 Bn net outflows.
Summary for European listed ETFs/ETPs
Including other Exchange Traded Products (ETPs), at the end of April 2012, the European ETF/ETP industry had 1,892 ETFs/ETPs, with 5,802 listings, assets of US$326.3 Bn, from 43 providers on 22 exchanges.
Assets
ETF/ETP assets have decreased by 3.1% from US$336.7 Bn in March 2012 to US$326.3 Bn in
April 2012.
YTD through end of April 2012, ETF/ETP assets have increased by 8.7% from US$300.1 Bn to US$326.3 Bn.
Flows
In April 2012, ETFs/ETPs saw net outflows of US$4.7 Bn. Equity ETFs/ETPs experienced net outflows of US$5.2 Bn, resulting primarily from ETFs/ETPs tracking European indices with US$5.0 Bn net outflows. Fixed income ETFs/ETPs gathered net inflows of US$228.3 Mn, where US$407.7 Mn went into government bond ETFs/ETPs, while money market ETFs/ETPs saw net outflows of
US$731.7 Mn. Commodity ETFs/ETPs gathered net inflows for the month of US$133.3 Mn, of which US$268.9 Mn went into ETFs/ETPs providing exposure to precious metals, while ETFs/ETPs tracking agriculture, energy and broad commodity indices experienced net outflows totalling a combined US$180.3 Mn.
YTD through end of April 2012, ETFs/ETPs saw net inflows of US$2.7 Bn. Commodity ETFs/ETPs gathered US$2.0 Bn net inflows, of which US$1.3 Bn went into ETFs/ETPs providing exposure to precious metals. Fixed income ETFs/ETPs saw net inflows YTD of US$1.1 Bn, of which US$2.6 Bn went into corporate bond ETFs/ETPs, while government bond ETFs/ETPs experienced US$1.2 Bn net outflows. Equity ETFs/ETPs saw net outflows of US$1.9 Bn YTD, with US$6.8 Bn net outflows from ETFs/ETPs tracking European equity indices, while US$2.9 Bn net inflows went into ETFs/ETPs tracking emerging market equity indices.
YTD through end of April 2012, inverse ETFs/ETPs gathered net inflows of US$0.5 Bn, leverage inverse ETFs/ETPs experienced US$0.4 Bn net inflows, while leveraged ETFs/ETPs saw US$0.3 Bn net outflows.
ETFlab Investment gathered the largest net inflows in April with US$0.6 Bn, followed by Source Markets with US$0.4 Bn and Credit Suisse Asset Management with US$0.3 Bn net inflows.
Source Markets gathered the largest net inflows YTD with US$1.6 Bn, followed by UBS Global Asset Management with US$1.2 Bn and ETFlab Investment with US$0.8 Bn net inflows.
iShares experienced the largest net outflows in April with US$4.3 Bn.
db x-trackers experienced the largest net outflows YTD with US$1.4 Bn, followed by Commerzbank with US$0.6 Bn and EasyETF with US$0.6 Bn net outflows.
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Source: ETFGI
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