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Europe rejects IMF call for more bank capital
September 2, 2011-European politicians on Thursday rejected an International Monetary Fund call for banks to raise up to 200 billion euros ($290 billion) in new capital, adding to fears that policymakers may be underestimating the severity of the debt crisis.
IMF chief Christine Lagarde's call on Saturday for mandatory capitalization of European banks to prevent a world recession has reignited a debate over whether they have raised sufficient capital to withstand a severe downturn. The IMF, the International Accounting Standards Board (IASB) and bank analysts have voiced concerns about a capital shortfall, while European regulators, politicians and banking associations argue that banks have a sufficient cushion to cope with market turbulence and worries over sovereign debt after several rounds of capital raising across the continent. A European source told Reuters on Wednesday that the IMF had estimated European banks could face a capital shortfall of 200 billion euros, a figure rejected by European bankers and policymakers.
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Source: Todays Zaman
FESE - The European Exchange Report 2010
September 2, 2011--FESE has created the European Exchange Report that represents a valuable source of integrated information about Europe’s diverse exchange industry. Each exchange’s financial and trading figures are summarised on a one page statement allowing for easy and transparent comparison of exchanges’ business models.
view the EUROPEAN EXCHANGE REPORT 2010
Source: FESE
London Stock Exchange in talks with clearing house
September 2, 2011--London Stock Exchange Group said on Friday that it was in talks with British clearing house LCH.Clearnet over a "potential" deal, responding to media speculation that it had made a bid for a majority stake.
The Financial Times, which did not cite its source, reported that the LSE had made a bid for a controlling stake in LCH.Clearnet that would value the leading independent clearing house group at about 1 billion euros (£0.88 billion).
"London Stock Exchange Group plc (LSEG) has noted the recent press speculation concerning LSEG and LCH.Clearnet Group Limited," it said in a brief statement.
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Source: AFP
The Financial Stability Board’s work on Shadow Banking:
September 1, 2011--At its July Plenary meeting in Paris on 18 July, the Financial Stability Board (FSB)
approved the initial recommendations for strengthening the oversight and regulation of the shadow banking system prepared by its Shadow Banking Task Force (hereafter the Task Force).
The initial recommendations for developing a stronger monitoring framework are built on the definition set out in the Background Note entitled Shadow Banking: Scoping
the Issues that was published on 12 April, and include high-level principles for the relevant authorities and a stylised monitoring process.
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Source: FSB
Boerse Stuttgart reports high turnover in August
September 1, 2011--According to order book statistics, turnover at Boerse Stuttgart in August 2011 was EUR 12.7 billion. This was the highest trading volume recorded by the Stuttgart Stock Exchange in the past three years. Highly volatile markets drove the volume up a further 52 percent higher than that generated in July 2011.
Securitised derivatives accounted for more than half of the total turnover. In this asset class turnover was 73 percent higher than in July 2011. The transaction volume in leverage and investment products totalled more than EUR 7.3 billion, with investment products accounting for more than EUR 3.7 billion and leverage products contributing a total of EUR 3.6 billion to the total turnover.
The trading volume for debt instruments was EUR 2.3 billion in August 2011, slightly below the turnover recorded in July 2011, but around 28 percent higher than in August 2010. The volume of debt instruments traded since the beginning of 2011 is more than EUR 21.3 billion in total.
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Source: Boerse Stuttgart
Trading volume on the Spanish Exchange reached €70.79 bn in August , up 32% year on year
September 1, 2011--MONTHLY TRADING STATEMENTS FOR BME MARKETS
The best month of August by trading volume in the last four years
The number of Equity trades in August was 4.4 million, up 82% on the year
The trading volume on the Warrants and Certificates market was up 44% on the previous year
Trading in Index Futures was the highest in 2011, up 61.5%
Corporate Debt trading in August increased 53%, at €3.9 trillion
Equities
In August trading in Equities on the Spanish Stock Exchange amounted to €70.79 billion, up 32% compared to the same period in 2010 and the best month of August in the last four years in terms of trading volume. In the first eight months of the year the trading volume totalled €660.29 billion, in line with the figure posted for the same period in 2010.
The number of trades in August came in at 4.4 million, up 82% year-on-year. In the first eight months of the year, the number of trades totalled 32 million, up 21% year on year.
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Source: BMEX
Average daily volume of 13.2 million contracts at Eurex Group in August
High market volatility leads to increase in August volumes at Eurex Exchange and ISE/Eurex Exchange: KOSPI Product with new record volumes/Eurex Repo: GC Pooling with new all-time high
September 1, 2011--: In August 2011, the international derivatives exchanges of Eurex Group recorded an average daily volume of 13.2 million contracts (Aug. 2010: 7.8 million). Of those, 9.1 million were Eurex Exchange contracts (Aug. 2010: 5.4 million), and 4.1 million contracts (Aug 2010: 2.4 million) were traded at the U.S.-based International Securities Exchange (ISE).
The massive growth of 69 percent y-o-y is due to the increasing use of exchange-traded and centrally cleared derivatives in the current market environment, which was driven by high volatility and uncertainty resulting from the European sovereign debt crisis. In total, 210.0 million contracts were traded at Eurex Exchange and 94.8 million at ISE.
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Source: Eurex
Turnover on Xetra has more than doubled in August
32.2 million transactions on Xetra
September 1, 2011--Order book turnover on Xetra and the Xetra Frankfurt specialist trading stood at €181.6 billion in August – an increase by 102 percent year-on-year (August 2010: €89.7 billion). Of the €181.6 billion, €173.4 billion were attributable to Xetra (+107 percent y-o-y, August 2010: €83.8 billion). €8.2 billion were attributable to the Xetra Frankfurt specialist trading, an increase of 38 percent y-o-y (August 2010: €5.9 billion).
Order book turnover on Tradegate Exchange* totalled €4.6 billion in August, nearly four times as much y-o-y (+279 percent, August 2010: €1.2 billion).
In equities, turnover reached €148.1 billion on Deutsche Börse’s cash markets (Xetra: €144.1 billion, Xetra Frankfurt specialist trading: €4.0 billion). Turnover in bonds was €1.6 billion, and in structured products on Scoach €4.4 billion. Order book turnover in mutual funds and exchange-traded funds (ETFs) amounted to €27.5 billion.
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Source: Deutsche Börse
Vienna Stock Exchange Launches New Sector Indices
September 1, 2011-- Today, the Vienna Stock Exchange started calculating and publishing new sector indices for the ATX and CEESEG (CEE Stock Exchange Group whose subsidiaries are the exchanges of Budapest, Ljubljana, Prague and Vienna) to round off its range of indices and meet market demand.
The ATX sector indices are based on the companies in the ATX Prime, and the CEESEG sector indices include companies contained in the leading indices of the CEE Stock Exchange Group, i.e., the ATX (Austrian Traded Index), the PX (Prague Stock Index), the BUX (Budapest Stock Index), and the SBI TOP (Slovene Blue Chip Index). The sector indices cover stocks from basic industries, consumer products and services, financials, and industrial goods and services. They have been designed to serve as representative benchmarks for investors.
The indices are used as underlyings for investment instruments such as structured products (certificates, exchange-traded funds, warrants, passive managed funds) and standardized derivatives (futures and options). The Vienna Stock Exchange provides all information of relevance for the index such as the index rules, composition, watch lists, changes and data vendor symbols on its index portal www.indices.cc.
Source: Vienna Stock Exchange
Boerse Stuttgart's Bondm segment for medium-sized enterprises
Launch of new index for bonds issued by medium-sized enterprises
Increasing transparency in the stock exchange market for bonds of medium-sized enterprises/ index calculated and published minute by minute
August 31, 2011--Boerse Stuttgart is to launch an index for the Bondm trading segment on 1 September 2011. The easily replicable index will track the performance of the 18 corporate bonds listed and traded in Boerse Stuttgart's Bondm segment for medium-sized enterprises.
This makes the Bondm index Germany's first trend and market indicator for the bond issues of medium-sized enterprises. The index will be calculated as a pure performance index. This means that coupon payments will be reinvested in the index. Boerse Stuttgart's partner in implementing and calculating the index will be Structured Solutions AG, based in Frankfurt/Main.
"With the new Bondm index we will bring additional transparency to the stock exchange market for the bonds of medium-sized enterprises. As a meaningful benchmark, the index will allow investors to compare the performance of individual bonds directly with the leading trading segment, Bondm, and to measure the investment success of the entire Bondm segment," says Christoph Lammersdorf, CEO of Boerse Stuttgart Holding GmbH. The liquidity in the secondary market of the Bondm segment will also ensure an index of high quality.
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Source: Boerse Stuttgart
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