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NYSE Euronext European ETF activity highlights for July 2011
August 4, 2011--Listings
This month, NYSE Euronext welcomed the first six ETF products from Ossiam, a subsidiary of Natixis Global Asset Management, as well as new listings from Lyxor and ETF Securities:
Ossiam ETF CAC 40 Equal Weight (Symbol: C4EW)
Ossiam ETF STOXX EUROPE 600 Equal Weight (Symbol: S6EW)
Ossiam ETF EURO STOXX 50 Equal Weight (Symbol: S5EW)
Ossiam ETF US Minimum Variance class Euro (Symbol: SPMV)
Ossiam ETF US Minimum Variance class USD (Symbol: MVUS)
Ossiam ETF iSTOXX Europe Minimum Variance (Symbol: EUMV)
ETFX CAC 40 2x Long Fund (Symbol: FRL2)
ETFX CAC 40 2x Short Fund (Symbol: FRS2)
Lyxor ETF Thailand (Symbol: THA)
Lyxor ETF MSCI Indonesia (Symbol: INDO)
In total, NYSE Euronext had 663 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-listings 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
An average of 9,231 on-book trades were executed daily in July, up 15.2% on July 2010 and showing almost no change year-to-date vs last year. When off-book regulated trades are included, the total daily average number of trades for July stands at 9,237 trades.
The average daily value traded on-book in July was €464.7 million, +40.7% vs July 2010 and +6.4% year-to-date vs last year. The total average daily value including off-book regulated trades was €494.7 million, +44.9% vs July 2010 and +11.6% year-to-date vs last year.
Assets Under Management (AUM)
At the end of July 2011, the combined AUM of all ETFs listed on the NYSE Euronext European markets totalled €141.5 billion, an increase of 19.3% from the €118.6 billion at the end of July 2010.
Market Quality
Our high-capacity, low-latency technology, combined with the flow from client orders, competitive market makers and our 22 first-class Liquidity Providers, contributed to a median spread for all listed ETFs of 28.5 bps.
view June 2011 edition of the ETF Monthly Flash
Source: NYSE Euronext
Unscheduled free float adjustment in DAX
Adjustment for Deutsche Börse tendered shares as of 9 August 2011
August 4, 2011--Deutsche Börse has announced an unscheduled adjustment to the free float of the share of Deutsche Börse in DAX.
Due to the exchange offer made to the shareholders of Deutsche Börse AG, which relates to the planned combination of Deutsche Börse AG and NYSE Euronext, the free float of the tendered shares of Deutsche Börse AG (ISIN DE000A1KRND6) has changed by more than 10 percentage points.
According to the index guidelines, the company’s free float will thus be increased from the current 77.83 percent to 90.82 percent. The adjustment will become effective on Tuesday, 9 August 2011.
Since 20 July 2011, the Deutsche Börse AG shares (ISIN DE0005810055) have been replaced with the tendered share class of Deutsche Börse AG (ISIN DE000A1KRND6) in the DAX index.
The next regular review of the Deutsche Börse blue-chip indices will be on 5 September 2011.
Source: Deutsche Börse
ECB liquidity measures dent euro
August 4, 2011--The euro fell sharply as the European Central Bank became the third monetary institution of the day to address tensions in financial markets by easing its policy stance.
Although part of its ongoing market operations, the ECB announced on Thursday that it would conduct a special six-month liquidity programme to help relieve tensions in eurozone financial markets.
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Source: FT.com
Key dates of the euro crisis
August 4, 2011-- Here are key dates in the debt crisis besetting the 17-nation eurozone:
-- 2009 --
October 16: Greece's incoming Socialist Prime Minister, George Papandreou, warns that his country's finances are in "a state of emergency."
December: The world's three main credit ratings agencies, Fitch, Standard & Poor's and Moody's, downgrade Greece's debt. Papandreou outlines massive public spending cuts.
2010
January 29: Spain announces a three-year austerity plan to save 50 billion euros ($71 billion).
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Source: EUbusiness
Deutsche Börse AG: Acceptance Rate Of The Exchange Offer Of Alpha Beta Netherlands Holding N.V. To The Shareholders Of Deutsche Börse AG Increases To Over 95 Percent Within The Additional Offer Acceptance Period
August 3, 2011-- By the end of the acceptance period on 1 August (midnight, CEST) 2011, 186,060,779 shares in Deutsche Börse were tendered under the exchange offer made by Alpha Beta Netherlands Holding N.V. to the shareholders of Deutsche Börse AG, which relates to the planned combination of Deutsche Börse AG and NYSE Euronext.
This corresponds to an acceptance rate of 95,41 percent of the total number of Deutsche Börse shares.
If also the final acceptance rate exceeds 95 percent, shareholders of Deutsche Börse AG, who have not yet accepted the exchange offer made by Alpha Beta Netherlands Holding N.V., still may elect to do so at unchanged conditions and exchange their shares for shares in Alpha Beta Netherlands Holding N.V. even after expiry of the additional offer acceptance period on 1 August 2011. Pursuant to Section 39c German Takeover Act such election has to be made within a period of three months after the expiry of the additional offer acceptance period of the exchange offer and the compliance with the disclosure requirements pursuant to Section 23 para. 1 sentence 1 no. 4 and sentence 2 German Takeover Act, i.e. until November 4, 2011 (midnight, CET).
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Source: Deutsche Börse AG
EEX trading results in July
July 3, 2011--In July 2011 the total trading volume on the Natural Gas Market
of the European Energy Exchange (EEX) amounted to 2,573,289 MWh compared
with 8,689,500 MWh in July 2010.
Thereof 953,699 MWh was traded on the Spot Market for the delivery into the market areas GASPOOL, NCG and TTF (July 2010 GASPOOL and NCG volume: 965,970
MWh). The daily reference price on the Spot Market for Natural Gas ranged between EUR 20.83 per MWh and EUR 22.17 per MWh.
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Source: EEX
United Kingdom: IOSCO Objectives and Principles of Securities Regulation: Detailed Assessment of Implementation
August 3, 2011--I. SUMMARY, KEY FINDINGS, AND RECOMMENDATIONS1
1. The overall assessment is that the CREST system itself is reliable and effective in providing delivery versus payment settlement on a real-time gross basis. There is, however, a residual interbank credit risk stemming from the U.S. dollar settlement mechanism. CREST’s supervision and oversight are risk-based and thus are implemented on
a prioritization basis.
They have been strengthened since the crisis, at both the Bank of
England (BoE) and the Financial Services Authority (FSA). Still at least 15 percent by value
of equities and around 1 percent by value of gilts are not dematerialized, which involves operational costs for market participants. Exposures to commercial settlement banks are
highly concentrated and growing, increasing credit risk outside the system.
EU says euro area's systemic capacity in doubt
August 3, 2011--The European Union voiced support for Italy and Spain under attack on financial markets but acknowledged that investors now doubt whether the euro zone can overcome its sovereign debt woes.
European Commission President Jose Manuel Barroso said a surge in Italian and Spanish bond yields to 14-year highs was cause for deep concern and did not reflect the true state of the third and fourth largest economies in the currency area.
"In fact, the tensions in bond markets reflect a growing concern among investors about the systemic capacity of the euro area to respond to the evolving crisis," Barroso said in a statement.
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Source: Todays Zaman
BlackRock ETF Landscape: STOXX Europe 600 Sector ETF Net Flows: week ending 29-Jul-2011
August 3, 2011--For the week ending 29 July 2011, there were US$28.4 Mn net outflows from STOXX Europe 600 sector ETFs. The largest sector ETF net outflows last week were in banks with US$71.9 Mn followed by oil and gas with US$54.5 Mn net outflows while healthcare experienced net inflows of US$51.7 Mn.
Year to date, STOXX Europe 600 sector ETFs have seen US$122.4 Mn net inflows. Banks has seen the largest net inflows with US$320.3 Mn, followed by healthcare with US$274.9 Mn net inflows, while utilities experienced the largest net outflows with US$247.2 Mn.
As of 29 July 2011, there is US$9.9 Bn AUM invested in the STOXX sector ETFs which is greater than the US$5.9 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.
to request report
Source: Global ETF Research & Implementation Strategy Team, BlackRock
UK Official holdings of international reserves July 2011
August 3, 2011--This monthly press notice shows details of movements in July 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 July 2011:
No intervention operations were undertaken.
view the UK Official holdings of international reserves July 2011
Source: HM Treasury
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