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NYSE Euronext NYSE Euronext European ETF - June 2011
July 12, 2011--NYSE Euronext European ETF activity highlights for June 2011
June 2011 saw 3 new ETF listings from HSBC ETFs on NYSE Euronext Paris.
| June | ||||||
| Symbol | Listing Date | Name | Sum of Traded Securities | Sum of Turnover € | Average Daily Trading Volume | Average Daily Turnover Volume € |
| HMLA | 08/06/2011 | HSBC MSCI EM LATIN AMERICA | 150 528 | 1 929 675 | 7 923 | 101 562 |
| HCAN | 06/06/2011 | HSBC MSCI CANADA | 36 080 | 1 113 645 | 2 122 | 65 509 |
| HZAR | 01/06/2011 | HSBC MSCI SOUTH AFRICA | 86 384 | 3 504 999 | 3 927 | 159 318 |
At the end of June, NYSE Euronext had 656 listings of 565 ETFs from 17 issuers. So far this year, there were a total of 115 new listings on the NYSE Euronext European market including 89 new primary listings and 26 cross listings.
These ETFs cover more than 360 indices exposed to an extended range of assets and strategies (Equity, Fixed Income, Commodities, Short, Leverage, etc...).
Trading activity
In June 2011, on average, there were 8 575 trades on a daily basis, representing a decrease of 7.4% versus June 2010.
ADT of €409.8 million, representing an increase of 2.5% from the €399.7 million in June 2010.
Assets Under Management (AUM)
At the end of June 2011, the combined AUM of all ETFs listed on the NYSE Euronext European markets totalled €142.5 billion, an increase of 22.1% from the €116.7 billion at the end of June 2010.
Market Quality
The combination of the flow of 22 first-class Liquidity Providers, competitive market makers, client orders and our high capacity, low latency technology contributed to a median spread of 28.5 bps of all listed ETFs.
view the June 2011 edition of the ETF Monthly Flash
Survey reveals marked differences between retail investors’ choices and product knowledge across NYSE Euronext markets in Europe
July 12, 2011-- In its continued initiative to connect retail investors to product issuer communities, NYSE Euronext commissioned TNS Sofres to survey the opinions, attitudes, and expectations of retail investors on its European cash markets including France, the Netherlands, Belgium and Portugal.
The survey was conducted from December 1, 2010 to April 4, 2011 for a sample of 591 active European investors, defined as making at least 20 transactions each year , or 10 to 19 transactions each year with a portfolio of at least €15,000. These investors hold shares, bonds, certificates, warrants, ETFs, options, futures or CFDs and are actively involved in their portfolio management.
The survey revealed a number of interesting findings demonstrating the strong differences between different investors’ product knowledge and choices in France, the Netherlands, Belgium and Portugal.
European Parliament: Ban Energy Market Manipulation, Says Energy Committee
June 12, 2011--New rules to prevent abusive practices in the energy wholesale market, and thus protect final consumers all over Europe, were backed by the Industry, Research and Energy Committee on Tuesday. The rules have been agreed with EU Member State representatives, and will be put to a vote by Parliament as a whole in September.
The draft EU regulation on energy market integrity and transparency (REMIT) was approved in committee with 42 votes in favour, none against and 3 abstentions.
"Energy, as the 'lifeblood' of our economies, must remain affordable. Therefore, this regulation is a step forward: it ensures market transparency and prevents market abuse. We worked hard to achieve an agreement setting out the right conditions for energy trading. I am particularly happy that the European dimension of energy trading is clearly highlighted within REMIT", said Parliament's rapporteur, Jorgo Chatzimarkakis, (ALDE, DE).
Modeling Optimal Fiscal Consolidation Paths in a Selection of European Countries-IMF Working paper
July 12, 2011--Summary: For a number of countries - Italy, Netherlands, the United Kingdom, Germany, Ireland, and France - this paper develops an inter-temporal model that elicits the implied country-preferences over balancing the conflicting objectives of fiscal consolidation and reduction of economic slack.
The model suggests that some front-loading of adjustment is desirable, although the extent would vary by country preferences. It also finds that proposed consolidations may prove to be stronger than acceptable, especially if somewhat larger than anticipated fiscal multipliers lead to a sizeable economic deceleration.
Germany: Financial Sector Stability Assessment
July 12, 2011--EXECUTIVE SUMMARY
The German financial system has stabilized after parts of it were hit hard during the financial crisis. The main impact came from exposures abroad and funding strains for certain banks; many of these banks had been widely seen as problematic even before
the crisis—for example, in the 2003 Financial Sector Assessment Program (FSAP)—yet they built up risks as part of a “search for yield” that was not kept in check by effective governance. Thus, certain known structural weaknesses, which prudential oversight did not redress, combined with gaps in the crisis management system to make Germany vulnerable to crisis.
The domestic loan portfolio was relatively robust against what turned
out to be a short, sharp recession, and the government’s introduction of support measures
was successful in localizing problem cases. Since then, the financial system has strengthened further on the back of improving macroeconomic conditions.
Stability analysis suggests that German banks are robust against many shocks, but important vulnerabilities remain. Some banks suffer from balance sheet fragilities, and widespread low profitability will make it challenging for many to raise the level and quality of their capitalization, as required under the new Basel III regime and by tougher market conditions.
view the IMF report-Germany: Financial Sector Stability Assessment
ETPD News-SIX Swiss Exchange
July 12, 2011--Facts & Figures on ETFs and ETPs
Total turnover in the ETF segment on SIX Swiss Exchange for the second quarter of 2011 came to CHF 21 billion. Mid year brought a turnover of CHF 45.7 billion for the Swiss stock exchange what corresponds to a rise of 23%. 244'934 transactions were done.
As at the end of June 2011 there were 691 ETFs from 14 providers listed on SIX Swiss Exchange. This corresponds to an increase of 87 products since the year began. Liquidity is provided by 18 market makers. Turnover in the ETP segment, which was launched on SIX Swiss Exchange in November 2010, is also growing steadily. By the end of June, 2000 transactions were carried out in the 33 listed ETPs generating a turnover of CHF 165 million.
Newsflash: new daily record in the Eurex KOSPI Product on July 11, 2011
More than 100,000 contracts traded on a single day for the first time
July 12, 2011--Eurex: Eurex KOSPI Product
Record turnover on July 11, 2011: 103,318 contracts
Previous record on July 8, 2011: 93,006 contracts
Average daily volume July (month-to-date): 63,484 contracts
Average daily volume June 2011: 27,256 contracts
The new record volume is mainly due to the increasing number of active trading participants, especially from South Korea, and the related growth in trading activity.
db X-trackers listet neue Schwellenländer-ETFs auf Sektoren-Indices
12.07.2011--db X-trackers, die Plattform der Deutschen Bank für Exchange Traded Funds (ETFs), hat gestern als erster ETF-Anbieter an der Deutschen Börse Schwellenländer-ETFs auf Sektor-Indices gelistet, so das Unternehmen in seiner aktuellen Pressemitteilung. Näheres entnehmen Sie bitte dem Wortlaut der folgenden Pressemeldung:
Die zehn ETFs bilden die weltweiten Sektoren aus insgesamt 23 Emerging Markets ab. Die unterliegenden MSCI-Indices setzen sich zusammen aus den wichtigsten Unternehmen dieser Schwellenländer beispielsweise im Energie-, Konsumgüteroder Finanzsektor. Damit haben Investoren die Möglichkeit, sich einfach und kostengünstig an der Entwicklung eines Emerging Market Sektors zu beteiligen. Diese Herangehensweise kann von Vorteil sein, wenn sich beispielsweise einzelne Sektoren in bestimmten Phasen eines Konjunkturzyklus besser entwickeln zu scheinen und deshalb in einem Portfolio übergewichtet werden sollen.
Mit dem Listing der neuen ETFs bietet db X-trackers insgesamt 49 Schwellenländer-ETFs an und ist damit nach der Größe der Produktpalette der derzeit größte Anbieter in Deutschland in diesem Segment. Um eine möglichst exakte Abbildung der unterliegenden Indices zu erreichen, wendet db X-trackers bei allen Schwellenländer-ETFs die Methode der synthetischen Indexabbildung an. Dabei ist für alle Schwellenländer-ETFs ein Sicherheitenkorb ("Collateral") bei einer als Treuhänder fungierenden Bank hinterlegt. Der Wert des Sicherheitenkorbes beträgt stets zwischen 107,5 und 120 Prozent des jeweiligen Fondsvolumens, um ein mögliches Kontrahentenrisiko zu reduzieren.
Scripts for eurozone crisis: from doomsday to tighter union
July 12, 2011-- Europe's debt crisis has raised the spectre of doomsday scenarios for the eurozone -- from a devastating debt default in Greece that takes down Italy and Spain to the euro's 12-year lifespan, to rosier prospects and even tighter cooperation.
Following are potential ramifications of the biggest crisis faced by the 17-nation eurozone since its birth in 1999:
CRISIS CONTAMINATES ITALY AND SPAIN
Measures taken so far by European leaders -- such as beefing up a financial stability fund for frail nations -- fail to calm the markets. The lack of investor confidence pushes borrowing costs for taly and Spain to record heights, making it hard for Rome and Madrid to raise funds in the bond market. The eurozone's third and fourth biggest economies are forced to go cap in hand to their European partners and the IMF for loans to pay off their debts.
Three smaller nations which have already received bailouts -- Greece, Ireland and Portugal -- struggle despite the aid. The eurozone then must consider increasing the firepower of the European Financial Stability Fund, which today has a loan capacity of 440 billion euros ($609 billion). This poses problems for cash-strapped governments facing austerity and is also a political hot potato in Germany, Finland and the Netherlands, increasingly less willing to shell out more cash. And European officials say saving Spain and Italy in addition to Greece, Portugal and Ireland would be beyond the eurozone's means.
Euro area securities issues statistics: May 2011
July 12, 2011--The annual growth rate of the outstanding amount of debt securities issued by euro area residents increased
from 3.2% in April 2011 to 3.6% in May. For the outstanding amount of quoted shares issued by euro area
residents, the annual growth rate was 1.4% in May 2011, the same as in April.
New issuance of debt securities by euro area residents totalled EUR 963 billion in May 2011 (see Table 1 and Chart 1). Redemptions stood at EUR 839 billion and net issues amounted to EUR 127 billion (see Table 1).1 The annual growth rate of outstanding debt securities issued by euro area residents increased from 3.2% in April 2011 to 3.6% in May (see Table 1 and Chart 3).
