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NYSE Euronext European ETF activity highlights for August 2011
September 7, 2011--Listings
There were no ETF listings on NYSE Euronext's European markets in August.
In total, NYSE Euronext had 670 listings of 572 ETFs from 18 issuers. So far this year, there have been a total of 131 new ETF listings on the NYSE Euronext European cash markets, including 103 new primary listings and 28 cross-listings (compared to 46 new primary listings and no cross-listing in the same period in 2010).
NYSE Euronext ETFs cover more than 360 indices exposed to an extensive range of assets and strategies (Equities, Fixed Income, Commodities, Short, Leverage, etc).
Trading activity
August brought with it a few weeks of extreme volatility. With plenty of uncertainty in the markets, trading activity was record-breaking:
An average of 14,658 on-book trades were executed daily in August, up 90.7% on August 2010 and +10.6% year-to-date vs last year. In total, there was an all-time record of 337,862 on-book ETF trades, eclipsing the previous record of 295,888 trades set in May of 2010.
The average daily value traded on-book in August was €618.2 million, +108.0% vs August 2010 and +17.3% year-to-date vs last year. The total traded on-book value amounted to €14.2 billion, making it the second-best month ever, just over €500 million shy of the all-time record of €14.8 billion set in January of 2008.
In response to market demand, an enhanced version of the block-trade or off-book trading functionality was also launched, featuring extended trading hours, standard clearing & settlement and reduced trading fees.
In a bid to increase post-trade transparency in the ETF space, the improved block-trade functionality also includes volume aggregation of on- and off-book trades. The latter, which are considered to be regulated market trades, are aggregated with the official order book volumes and made available by data vendors under the main, official ETF ticker.
The use of this functionality was overwhelming in August: a total of €1.9 billion was exchanged in block trades, up 201.3% from July 2011 and up from €42.0 million in August 2010. Overall, block trade volume represented 11.8% of total regulated market ETF trading on NYSE Euronext.
More information about the enchanced block-trade or off-book trading functionality is available here.
Focus on Indices
In an uncharacteristically volatile month, many benchmark indices receded considerably and double-digit loss figures were the norm rather than the exception for the majority of European blue-chip indices.
The NYSE Euronext Iberian Index (NEIBI) however, continued its relatively strong performance from July into August, losing 8.2% last month. Measured at end August 2011, the NYSE Euronext Iberian Index, which is replicated by the ESAF NYSE Euronext Iberian ETF (trading symbol IBER), is the best performing NYSE Euronext European blue chip index in 2011, with an overall YTD performance of -8.8%.
The August edition of the monthly NYSE Euronext Index Performance Highlights provides more background and contains a full report with details for all NYSE Euronext indices. For the most recent NYSE Euronext index news, subscribe to the Monthly Index Reports by emailing your request and contact details to indexlicence@nyx.com.
Assets Under Management (AUM)
At the end of August 2011, the combined AUM of all ETFs listed on the NYSE Euronext European markets totalled €126.1billion, an increase of 6.8% from the €118.1 billion at the end of August 2010.
Market Quality
This month, NYSE Euronext welcomed Goldenberg Hehmeyer LLP has a new Liquidity Provider. Goldenberg now officially provides liquidity on 49 NYSE Euronext listed ETFs from five different issuers.
Our high-capacity, low-latency technology, combined with the flow from client orders, competitive market makers and our 23 first-class Liquidity Providers, contributed to a median spread for all listed ETFs of 28.5 bps.
view ETF Monthly Flash
Source: NYSE Euronext
HSBC has launched an Emerging Markets exchange-traded fund (ETF) onto the London Stock Exchange.
September 7, 2011-- The Irish-domiciled HSBC MSCI Emerging Markets ETF will replicate the performanceof the MSCI Emerging Markets index (net total return).
The index tracks the performance of the lartest companies in a range of emerging economies, including Brazil, Russia, China and India.
The ETF will use physical replication of the index and has a total expense ratio of 0.6%
read more
Source: Clearing & Settlement
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.
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Source: London Stock Exchange
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."
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Source: Natixis
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.
read more
Source: FT.com
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.
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Source: EUbusiness
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.
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Source: European Energy Exchange (EEX)
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.
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Source: NewsLanc
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.
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Source: EUbusiness
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.
Source: Deutsche Börse
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