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EPEX Spot / EEX Power Derivatives: Power Trading Results in May
June 6, 2011--In May 2011, a total volume of 110.9 TWh was traded on the Power Spot and Derivatives Market operated by EPEX Spot SE and EEX Power Derivatives respectively (May 2010: 151.5 TWh).
In May 2011, power trading on the day-ahead auctions on EPEX Spot accounted for a total of 23,773,281 MWh (May 2010: 21,477,835 MWh) and can be broken down as follows:
Semi-Annual Review of OMX Copenhagen 20 Index
June 6, 2011--On June 3, 2011, the NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announced the result of the semi-annual review of the OMX Copenhagen 20 Index (NASDAQ OMX Copenhagen: OMXC20), which will become effective with the market open on Monday, June 21, 2010.
As a result of the re-ranking NASDAQ OMX will add Coloplast to the OMXC20 Index and remove Genmab.
The OMXC20 Index is the NASDAQ OMX Copenhagen's tradable index. It was introduced July 3, 1989 as an underlying instrument for futures and options. The OMXC20 Index has a base value of 100 and is weighted in terms of free floated market value.
The OMX Copenhagen 20 Index constituents effective June 21, 2010 are:
Deutsche Börse publishes 2010 Corporate Responsibility Report
June 6, 2011--Deutsche Börse has published its third Corporate Responsibility Report,
presenting its initiatives for the concluded financial year 2010. The
report was prepared and examined in accordance with the internationally recognized Global Reporting Initiative (GRI) guidelines, and reached the second
highest reporting level (GRI Level B+).
In addition, the figures in the chapters
“Employees”, “Environment” and “Community” and also the quantitative and qualitative statements in the chapter “Economy” were audited by KPMG. This guarantees international comparability and a reliable, transparent quality standard of sustainable reporting.
The Company believes that the capital market and its institutions have a responsibility to society, and it is committed to this. Deutsche Börse Group's social initiatives focus on the Group's locations around the world and the active involvement of its own employees. Our long-term commitment continues to focus on four areas: economy, employees, environment and community.
NYSE Euronext announces new ETF -HSBC MSCI CANADA ETF
June 6, 2011--NYSE Euronext is pleased to announce that HSBC ETFs has listed 1 new ETF on NYSE Euronext's Paris market today:
Name: HSBC MSCI CANADA ETF
Trading name: HSBC MSCI CANADA
ISIN:IE00B51B7Z02
Symbol: HCAN
Reuters RIC:HCAN.PA
BBG Ticker: HCAN FP
Underlying index:MSCI CANADA
TER: 0,35%
NYSE Euronext has now 655 listings of 564 ETFs based on more than 360 indices. So far this year, a total of 114 new listings of 88 ETFs have taken place on the NYSE Euronext European market.
UK official holdings of international reserves, May 2011
June 3, 2011--This monthly press notice shows details of movements in May in the UK’s official holdings of international reserves, which consist of gold, foreign currency assets and International Monetary Fund assets. These reserves are maintained primarily so that the UK Government’s reserves could be used to intervene to support Sterling, or the Bank of England’s reserves could be used to support the Bank’s monetary policy objectives.
If such interventions were to occur, then they would be shown and explained in this release. The Background note at the end of this release explains more about the reserves, and about these statistics.
In summary this month’s release shows that, in May 2011: No intervention operations were undertaken.
Amundi to Cut Fees on Hedge Fund-Style Portfolios
June 2, 2011-Amundi Asset Management plans to cut fees on its hedge-fund-style portfolios, in a rare sign that investors may be able to flex their muscles on charges in the wake of the credit crisis.
The France-based firm, which manages 14 billion euros ($20.1 billion) in absolute return strategies and which has around 690 billion euros in assets in total, said it was reviewing the fee structure on its VaR (value at risk) range of funds.
DB Global Equity Index & ETF Research : European ETF Market Weekly Review :A quiet May with near-flat ETP flows
June 1, 2011-Investment Outlook: Lack of directionality in May
Equity non-DAX inflows for the month of May were close to €600 million, well below what we typically would observe during a busy month. Total European ETP cash flows for the month of May, excluding DAX, totaled close to €100 million.
The lack of ETP directionality which has characterized flows for most of May extended to the week that finished on May 27th. Most of the European equity benchmarks ended the week lower than the previous week’s close: DAX, Stoxx 50, CAC & FTSE 100 lost 1.4%, 1.2%, 1% and 0.16% respectively.
During the week just passed, there were some minor re-allocations within the equity space with broad regional benchmarks gaining preference over country ETFs; however this was more pronounced with the developed market ETFs. European developed market country ETFs witnessed outflows of €196 million while regional European/euro-zone benchmarks together collected €176 million in inflows over the past week. ETFs tracking emerging country benchmarks also registered net outflows of €197 million.
Fixed Income ETFs witnessed outflows of €26 million in the last week. Sovereigns received cash inflows of €63 million while money market and Corporate ETFs registered outflows of €54 million and €43 million respectively.
Commodity ETPs received €121 million of net cash flows in the last week taking their YTD flow figures to €2.1billion. Crude Oil and gold ETPs collected €86 million and €35 million in cash inflows over the past week.
Assets Under Management (AUM): Assets remain unchanged
Total European ETP assets increased by 0.2% and ended the previous week at €242.3 billion. Commodity assets increased by close to €1 billion, largely on account of rising precious metals spot prices. Silver registered weekly gains of 7.81 % (USD/oz) while gold appreciated by 1.74 %( USD/oz).
Equities registered a decline in assets of €663 million to end the week at €155.8 billion. Within equities, ETFs tracking European developed country ETFs witnessed the largest asset decline (€411 million) from the previous week’s closing numbers. Declining equity markets and cash outflows from this segment contributed towards this decrease in assets. Developed non-European ETFs also witnessed a moderate decline of €153 million and ended the week with €22.2 billion in assets.
Fixed Income ETF assets gained 0.2% and ended the last week at €41.9 billion. Sovereigns were the biggest beneficiary adding close to €200 million in assets over the past week.
On-Exchange Total Weekly Turnover: Flat weekly turnover levels.
Weekly on exchange European ETP total turnover increased by 0.7% to end the past week at €10.8 billion. Trading activity across the European ETP markets was muted without any noticeable change in turnover levels across all the asset classes. Equity and commodity turnover registered almost equal and opposite changes of close to €100 million each. Overall weekly total turnover levels increased by a modest €78 million week over week.
New ETP Product Launch Calendar: 7 product launches, 8 Cross-Listing.
State Street continued its European march by launching 3 new ETFs in the last week. These fixed income ETFs focused on a range of Barclays Capital Indices tracking Euro corporates, sovereigns and aggregate bonds respectively. These ETFs were listed on the Deutsche Borse.
Deutsche Bank launched 3 ETC products, tracking physical Rhodium and Brent Crude Oil respectively. These products were listed on the Deutsche Borse and the London Stock Exchange.
Lyxor introduced one new equity ETF tracking French mid-cap stocks. This was launched on the NYSE Euronext Paris.
There were 8 ETFs which were cross-listed on European ETP exchanges in the last week. Please see Figure 10 for more details.
To request a copy of the report
Boerse Stuttgart achieves a turnover of EUR 9.8 billion in May
Turnover in securitised derivatives and bonds rises by roughly one quarter/ strong demand for German government bonds (Bunds)
June 1, 2011--In May 2011 Boerse Stuttgart, according to its order book statistics, had a turnover of around EUR 9.8 billion. This meant an increase of more than 24 percent in comparison with the previous month; in a year-on-year comparison trading volumes were up by 10.7 percent.
After April, when turnover was weaker, trading volumes in May were therefore back up to the level of the first three months of 2011.
The lion's share of trading volume was accounted for by securitised derivatives. With more than EUR 5.1 billion, turnover in May was more than 24 percent higher than in the previous month. Leverage products accounted for EUR 2.5 billion of trading volume, while investment products contributed more than EUR 2.6 billion.
BlackRock ETF Landscape: European STOXX 600 Sector ETF Net Flows for Week Ending 27-May-2011
June 1, 2011--For the week ending 27 May 2011, there were US$70.9 Mn net outflows from STOXX Europe 600 sector ETFs. The largest sector ETF net outflows last week were in banks with US$85.8 Mn followed by construction and materials with US$37.8 Mn net outflows while insurance experienced net inflows of US$35.0 Mn.
Year to date, STOXX Europe 600 sector ETFs have seen US$406.7 Mn net inflows. Healthcare has seen the largest net inflows with US$334.7 Mn, followed by oil and gas with US$218.8 Mn net inflows while utilities experienced the largest net outflows with US$168.5 Mn.
As of 27 May 2011, there is US$10.8 Bn AUM invested in the STOXX sector ETFs which is greater than the US$7.2 Bn open interest in the sector futures. The ETF AUM is greater than the open interest in the corresponding futures contract in 16 out of 19 sectors.
Market News Update May 2011
June 1, 2011--Exchange Traded Funds
Specialist exchange-traded fund provider Source has joined forces with investment bank Nomura to launch a
volatility-linked product. Ted Hood, chief executive of Source, said the European-based Nomura Voltage Mid-
Term Source ETF will help investors to capture returns from volatility spikes while reducing the costs associated
with a constant long-term position.
Mr Hood said the ETF complements Standard & Poor’s 500 Vix Futures
Source ETF, which was launched last year as the first European ETF offering exposure to volatility.The fund tracks the Nomura Voltage Strategy Mid-Term 30-day USD TR index. The allocation to the index can be up to 100 per cent and depends on volatility – the higher the relative volatility, the higher the allocation. It will be based on a tactical model which will be rebalanced each day to smooth out the effects of wild volatility. Financial
Times 3 May
2 - EPA chief executive Christopher Aldous distinguished between low-cost ETFs tracking well-establishedindices and those which leverage, sell short, track illiquid assets and use active management. He said: "EPA wants this second group of products to be clearly labelled to inform investors of the difference in structure." EPA pointed out ETFs remained strong throughout 2008 when a number of hedge funds and investment banks faced difficulties. However, the firm said regulators are right to raise their concerns and argued the first step towardsaddressing these should be "a clearer, less confusing classification" of different types of ETPs. IFA Online 16 May
3 - Flows into exchange-traded funds rose strongly in April as the global ETF industry continued on its growth
course. Worldwide, ETFs pulled in $25.3bn (€17.6bn) from investors last month, up from just under $17bn in
March, according to industry leader BlackRock. Inflows for the first four months of the year reached $67.2bn.
Inflows into funds that track indices in the developed world rose most in the first four months of the year. The
totalled $46.8bn, compared with $65.1bn for the whole of 2010 and $29.4bn for 2009. Meanwhile, flows into
emerging markets ETFs recovered in April, with these funds collecting $5.2bn from investors last month. Russia
was still the most popular single emerging market country for ETF investors, registering inflows of $442.7m last month alone. So far this year, Russian ETFs have pulled in $2.8bn, more than 2009’s whole year inflows of
$1.9bn. Financial Times 10 May
