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London Stock Exchange-Monthly Market Report - August 2011
September 7, 2011--London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community, offering international business unrivalled access to Europe’s capital markets.
In August a total of 42.9 million trades were carried out across the Group’s electronic equity order books with a combined value of £259.3 billion (€295.8 billion), up 73 per cent on August 2010 (£150.1 billion).
UK Equities Order Book
During the month, the average daily value traded on the UK order book was £6.2 billion (€7.0 billion), up 53 per cent year on year; the average daily number of trades was up 69 per cent to 888,621.
The LSE’s share of trading in the total UK order book for August was 60.0 per cent.
Italian Equities Order book
On the Italian order book, the average daily number of trades was 334,541, up 62 per cent on the same month last year, whilst the average daily value traded on the order book increased 32 per cent year on year to €3.2 billion (£2.8 billion).
Exchange Traded Products
Total value traded in Exchange Traded Products across the Group’s order books in August was up 110 per cent year on year to £16.9 billion (€19.3 billion). The total number of trades was up 63 per cent at 517,203.
Natixis Global Asset Management acquires Darius Capital Partners
Septemeber 6, 2011-- Natixis Global Asset Management (NGAM) announces that it has acquired a controlling interest in Darius Capital Partners. Founded in 2004 by Reza Ghodsi, president and managing partner, and Mathieu Klein, chief executive officer and managing partner, Darius is an investment advisory and research firm that provides customized hedge fund solutions to address institutional investors' growing needs for transparency, liquidity and risk management. Darius chooses from a flexible and
broad range of products, including UCITs, managed accounts, hedge funds, fund of funds, hedge fund replicators and alternative ETFs to deliver alternative investment solutions to its clients. Darius is headquartered in Paris with offices in New York.
Pierre Servant, chief executive officer of Natixis Global Asset Management, said, "Darius is the first pure investment advisory and consulting firm we have added to the NGAM multi-boutique model. With Darius's specialized expertise, sophisticated tools and open architecture approach, NGAM further expands the ability to provide alternatives investment advice to institutions, regardless of the ultimate solution required."
LCH.Clearnet at centre of bid battle
September 6, 2011--In 1888, the Financial Times reported in one of its first editions the creation of the London Produce Clearing House, warning that it would turn the city’s produce markets into “one vast gambling house”.
Well over a century later London’s main clearing house LCH.Clearnet - which traces its roots back to the LPCH through the former London Clearing House - is firmly established as one of the most critical pieces of market infrastructure in Europe.
Eurozone posts shrinking growth
September 6, 2011-The eurozone reported on Tuesday shrinking 0.2-percent growth in the second quarter of 2011, dragged down by a rapid decline in German performance and a stagnant France economy.
Moving in the opposite direction from the United States and Japan, which both logged steady improvement, Eurostat's second estimate showed the eurozone slowing from 0.8 percent growth in the first three months of 2011.
EEX Natural Gas and CO2 Trading Results in August
More than 100 participants admitted for EEX gas trading – Incentive model on Derivatives Market effective
September 6, 2011--At 6,290,107 MWh, the highest monthly volume since the beginning of the year was traded on the Natural Gas Market of the European Energy Exchange (EEX) in August 2011 (August 2010: 2,648,600 MWh).
). The higher volume is due, in particular, to increased trading activities on the Natural Gas Derivatives Market for which EEX introduced a new incentive model at the beginning of August.
SNB stuns market with franc action
September 6, 2011--The Swiss National Bank stunned financial markets on Tuesday by setting a ceiling for the Swiss franc against the euro in an attempt to prevent the strength of its currency from pushing its economy into recession….
Analysts said the move raised the stakes in the global currency war as countries vie to protect their exporters and, by removing a release valve for investors looking for a haven from current market turmoil, could heighten instability on financial markets.
Battle under way for soul of 'United States of Europe'
September 6, 2011-- Star economists and former national leaders now happily argue that resolving the eurozone debt crisis will eventually demand the surrendering of sovereignty to create a fully-fledged United States of Europe.
However, as they press for the political integration they say is needed to prevent the currency union collapsing on an Achilles heel of Greek debt, even advocates in unguarded moments admit resistance to the surrender of national sovereignty is rising.
Changes to MDAX, SDAX and TecDAX
September 5, 2011--Based on the outcome of today’s meeting of the Working Committee for Equity Indices Deutsche Börse has decided that Deutz, KUKA and GSW Immobilien will be included in MDAX and that Praktiker, Demag Cranes and IVG Immobilien are to leave MDAX.
Accordingly Deutz, KUKA und GSW Immobilien will leave SDAX. In exchange Praktiker, IVG Immobilien and Prime Office Reit will be included in SDAX. Furthermore Elexis in SDAX will be replaced by Derby Cycle and Medion by Schaltbau.
In TecDAX Roth + Rau and Phoenix Solar will be replaced by Xing and PSI.
Demag Cranes and Medion will be excluded from Deutsche Börse selection indices according to the index guidelines as their free-float has dropped below ten percent.
These changes will take effect on 19 September 2011. The next regular index review will be held on 5 December 2011.
Please go to www.dax-indices.com for further information.
ESMA announces two open hearings on 26 September - on the AIFMD and on UCITS ETF and Structured UCITS
September 5, 2011-ESMA will hold two open hearings on AIFMD and on UCITS.
Date:26 Sep. 2011
Group: Investment Management
Title: Open Hearing on ESMA’s discussion paper on guidelines for UCITS ExchangeTraded Funds and Structured UCITS
Whrere: ESMA, 103 Rue de Grenelle, 75007 Paris
EU May Force Clearing Houses to Share Data
September 5, 2011-The European Union may require exchanges to share information with clearing houses operated by rival companies to remove “commercial barriers” that hinder competition for handling trades.
Trading venues should provide data access on a “transparent and non-discriminatory basis,” according to a document obtained by Bloomberg News. Banks and trading facilities would also have to publicize “bid and offer prices and the depth of trading interests” for bonds and derivatives, to increase transparency in markets that were previously subject to fewer regulations, according to the European Commission document.
