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Deutsche Börse and SIX Group sign definitive agreement to make Deutsche Börse sole owner of Eurex
Agreement is subject to the approval of the Supervisory Board of Deutsche Börse AG and the NYSE Euronext Board of Directors
June 7, 2011--On 7 June 2011, Deutsche Börse AG, SIX Group AG and SIX Swiss Exchange AG signed a definitive agreement for a transaction which would make Deutsche Börse the sole owner of the currently jointly owned Eurex Group and SIX Group a shareholder in the combined Deutsche Börse and NYSE Euronext entity.
The agreement is still subject to the formal approval of the Supervisory Board of Deutsche Boerse AG and also, based on the Business Combination Agreement, the Board of Directors of NYSE Euronext; both approvals are scheduled for June 16, 2011.
The Chairman of the Supervisory Board of Deutsche Boerse AG and the Chairman of the Board of Directors of NYSE Euronext, following discussions within their Boards, expressed their support for the transaction. The timing of the transaction is generally driven by the closing of the pending Deutsche Börse and NYSE Euronext combination. Under the agreement Deutsche Börse would receive 100% of all Eurex sales and profits instead of the 85% reflected in the consolidated accounts of Deutsche Börse Group today after closing of the transaction with economic effect as of 1 January 2012. In return, SIX Swiss Exchange AG would receive a consideration of €295 million in cash and €295 million in shares of the combined Deutsche Börse and NYSE Euronext entity. The shares of the combined entity will be shares held by Deutsche Börse as the result of the tender of Deutsche Börse treasury shares into shares of the combined entity. The financial terms reflect an agreement relating to the resolution of all rights and obligations of both parties under the current contractual framework of Eurex and its existing 2014 termination provisions.
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Source: Deutsche Börse
Deutsche Börse introduces new benchmark for interest rate swaps
"Eurex ICAP Swap Spreads" developed together with ICAP
June 7, 2011-- Deutsche Börse – Market Data & Analytics is expanding its range of information products with “Eurex ICAP Swap Spreads”. The new data product, which aims to serve as a neutral benchmark for Euro interest rate swaps, was developed jointly with interdealer broker ICAP.
Eurex ICAP Swap Spreads provides yield spreads between exchange-traded futures and interest rate swaps that are traded over-the-counter (OTC). In addition, the product includes Bund, Bobl and Schatz futures yields, ICAP Euro interest rate swap rates and open, high, low and close spreads and yields. The data is updated every 250 milliseconds. Market participants can use the information to optimize borrowing and hedging costs, review portfolios values and improve risk management.
“Eurex and ICAP are leaders in their market segments. By combining data from both companies, we were able to create a product that provides benchmark information for key fixed income markets in Europe,” said Georg Gross, Head of Front Office Data & Analytics at Deutsche Börse.
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Source: Deutsche Börse
UK: FSA issues warning on structured products
June 6, 2011--Investment products described as “guaranteed”, “protected” or “secure” may have to carry an explanation stating exactly what these terms mean, in the latest warning from the Financial Services Authority that financial companies are not properly advertising risk to consumers.
So-called structured products, which offer people exposure to the stock market with some level of protection, were being promoted “without any clear and adequate justification for the descriptions used”, the regulator said in a quarterly consultation paper on Monday. It has proposed introducing guidelines that would force financial services companies to explain the use of terms such as “guaranteed” in advertisements or factsheets.
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Source: SPA
NASDAQ OMX: Semi-Annual Review Of OMX Copenhagen 20 Index
June 6, 2011--The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announced today 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 20, 2011.
As a result of the re-ranking, NASDAQ OMX will add TDC A/S, D/S Norden and
Lundbeck to the OMXC20 Index and remove A.P. Møller Maersk A and Nordea Bank
AB.
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.
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Source: Presscontacts.com
Euroclear UK & Ireland integrates ETF order routing and settlement
June 6, 2011--Euroclear UK & Ireland (EUI) launches today a new service that seamlessly integrates and automates Exchange-Traded Fund (ETF) order routing and trade settlement. The service will be available to institutional and retail clients in the UK via IFAs and fund platforms.
By leveraging the EMX Message System, fund distributors will be able to route ETF subscription and redemption orders using the same infrastructure they currently use for mutual fund order flows. Settlement of ETF trades can then take place at EUI, which currently settles trades in more than 1,600 ETFs.
Underscoring the UK’s strong appetite for ETF investment, the value of ETFs held through EUI tripled over the past three years to approximately GBP 64 billion (EUR 73 billion).
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Source: Euroclear
Three new SPDR bond ETFs launched on Xetra
June 6, 2011-- Three further exchange-listed index funds issued by SPDR (State Street Global Advisors) have been tradable on Xetra® since Monday.
ETF name: SPDR Barclays Capital Sterling Aggregate Bond ETF
Asset class: bond index ETF
ISIN: IE00B3T8LK23
Total expense ratio: 0.20 percent
Distribution policy: distributing
Benchmark: Barclays Capital Sterling Aggregate Bond Index
ETF name: SPDR Barclays Capital US Aggregate Bond ETF
Asset class: bond index ETF
ISIN: IE00B459R192
Total expense ratio: 0.20 percent
Distribution policy: distributing
Benchmark: Barclays Capital U.S. Aggregate Bond Index
ETF name: SPDR Barclays Capital US Treasury Bond ETF
Asset class: bond index ETF
ISIN: IE00B44CND37
Total expense ratio: 0.15 percent
Distribution policy: distributing
Benchmark: Barclays Capital U.S. Treasury Index
The first two new SPDR bond index ETFs in the Barclays Capital Bond Index Series are based exclusively on bonds denominated solely in pounds sterling and US dollars respectively, with a fixed coupon and an investment grade rating.
The Barclays Capital Sterling Aggregate Bond ETF tracks the performance of government bonds, treasury bonds and corporate bonds denominated in pounds sterling. The SPDR Barclays Capital US Aggregate Bond ETF primarily tracks the performance of government bonds, treasury bonds and corporate bonds denominated in US dollars.
The SPDR Barclays Capital US Treasury Bond ETF enables investors to participate in the performance of the Barclays Capital U.S. Treasury Index. This contains bonds issued in the US only which are weighted according to market capitalisation. Bonds considered for the index must have a minimum maturity of one year at the time the index is reviewed.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 810 exchange-listed index funds, making it the largest offering of all European stock exchanges.
Source: Deutsche Börse
London Stock Exchange Group: Monthly Market Report – May 2011
JUne 6, 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 May, a total of 27.1 million trades were carried out across the Group’s electronic equity order books with a combined value of £210.4 billion (€239.6 billion), down 19 per cent on May 2010 (£259.6 billion).
UK Equities Order Book
During the month, the average daily value traded on the UK order book was £5.4 billion (€6.1 billion), down 24 per cent year on year; the average daily number of trades reduced 16 per cent to 694,247.
The LSE’s share of trading in the total UK order book for May was 64.7 per cent.
Italian Equities Order book
On the Italian order book, the average daily number of trades was 261,696, down 31 per cent on the same month last year, whilst the average daily value traded on the order book decreased 33 per cent year on year to €3.7 billion (£3.3 billion).
Turquoise Cash Equities
The average daily value traded on the Turquoise integrated book in May was €1.4 billion (£1.2 million), up eight per cent on the same month last year. The average daily number of trades was up 27 per cent, at 309,090.
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Source: London Stock Exchange
Norma Group and GSW Immobilien to be included in SDAX
Colonia Real Estate und Homag Group to leave SDAX/ Tognum Free Float adjusted/ Decision made on treatment of Deutsche Börse shares in context of planned merger with NYSE/Euronext
June 6, 2011--Based on the outcome of today’s meeting of the Working Committee for Equity Indices Deutsche Börse has decided that Norma Group AG and GSW Immobilien AG will be included in SDAX and that Colonia Real Estate AG and Homag Group AG are to leave SDAX. This change will take effect on 20 June 2011. The next regular index review will be held on 5 September 2011.
Due to the successful takeover offer of Engine Holding GmbH for Tognum AG its free-float in MDAX declines from 75 to 40.13 percent. The adjustment becomes effective as of 9 June.
The Working Committee for Equity Indices today also independently discussed the treatment of the merger of Deutsche Börse and NYSE Euronext. Following thorough considerations, the committee decided to replace the share of Deutsche Börse AG (ISIN DE0005810055) with the tendered shares (ISIN DE00A1KRND6) provided an acceptance threshold of at least 50 percent is reached by the end of the initial tender period or at any time throughout the extended period with two trading days notice. With achieving this threshold the then larger share class is included in the DAX index in accordance with the index rulebook.
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Source: Deutsche Börse
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:
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Source: EEX
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:
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Source: NASDAQ OMX
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