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Financial Markets Survey - 2010 update
April 28, 2011--The annual Financial Markets Survey (FMS) collects basic quantitative financial market information (market size and activities) on securities for non-euro area EU countries
The combination of the euro area securities issues statistics and the FMS makes it possible to analyse the structure of the securities market within the European Union. On an annual basis, non-euro area EU national central banks provide the ECB with statistics on outstanding amounts and gross issues of debt and equity securities. These national data (presented in euro as well as in domestic currencies) give an indication of how financial and non-financial sectors within an economy are seeking direct finance on the securities market.
The aggregation of the securities issues statistics for euro area countries and the FMS allows for the compilation of EU aggregates of short-term and long-term debt securities issued for various sub-sector breakdowns including Monetary Financial Institutions, Other Financial Institutions and Non-Financial Corporations. In the same way, it also allows for the compilation of an EU aggregate for equity securities issued.
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Source: ECB
Assessment of securities settlement in Sweden
April 27, 2011-Finansinspektionen and the Riksbank jointly assessed securities settlement in Sweden in 2010. On the Swedish securities market, Euroclear Sweden is responsible for account operations in its role as a central securities depositary and manages securities transactions after closing in its role as a clearing organisation and settlement system for securities.
The assessment is based on ESCB-CESR's 19 recommendations regarding settlement systems for securities. In the 2010 assessment, the Riksbank and Finansinspektionen find that Euroclear Sweden observes all of the recommendations except Recommendation 13, which is only broadly observed.
view the Assessment of Securities Settlement in Sweden 2010 report
Source: Finansinspektionen
Emissions trading: Commission adopts decision on how free allowances should be allocated from 2013
April 27, 2011--The European Commission today adopted a Decision on how free emission allowances should be allocated from 2013 to industrial installations covered by the EU Emissions Trading System (EU ETS).
Although auctioning will become the main principle for allocating allowances as of 2013, a proportion of free allowances will still be given to industry until 2020, notably to reduce costs for installations in sectors deemed to be exposed to significant competition from outside the EU. The Decision sets out the rules, including the benchmarks of greenhouse gas emissions performance, to be used by the Member States in calculating the number of allowances to be allocated for free annually in these sectors.
Source: European Commission
BlackRock ETF Landscape: European STOXX 600 Sector ETF Net Flows for Week Ending 21 April 2011
April 27, 2011--For the week ending 21 April 2011, there were US$78.8 Mn net inflows from STOXX Europe 600 sector ETFs. The largest sector ETF net inflows last week were in insurance with US$42.2 Mn followed by oil and gas with US$30.4 Mn net inflows while basic resources experienced net outflows of US$56.3 Mn.
Year to date, STOXX Europe 600 sector ETFs have seen US$453.5 Mn net inflows. Oil and gas has seen the largest net inflows with US$522.3 Mn, followed by banks with US$338.3 Mn net inflows while automobiles and parts experienced the largest net outflows with US$143.0 Mn.
As of 21 April 2011, there is US$11.1 Bn AUM invested in the STOXX sector ETFs which is almost double the US$6.1 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: Source: Global ETF Research & Implementation Strategy Team, BlackRock
Results of the April 2011 bank lending survey for the euro area
April 27, 2011--The European Central Bank (ECB) is publishing today its report on the results of the April 2011 bank lending survey for the euro area. The bank lending survey, which is conducted four times a year, usually at the beginning of each quarter, was developed by the Eurosystem in order to enhance the understanding of bank lending behaviour in the euro area.
The results reported in the April 2011 survey relate to changes in the first quarter of 2011 and expectations of changes in the second quarter of 2011. This survey round included one ad hoc question aimed at gauging the extent to which the situation in the financial markets is affecting banks’ credit standards for loans and credit lines to enterprises and for loans to households in the euro area. The April 2011 bank lending survey was conducted between 14 and 31 March 2011. In the first quarter of 2011 the size of the sample of banks surveyed was increased to 124 in order to include replies from Estonian banks for the first time.
Time series of the results of the ECB Bank Lending Survey: csv data-Updated April 27, 2011
Source: ECB
Swiss franc hits record vs dollar
April 26, 2011--The Swiss franc touched a record against the dollar while the euro pushed close to a 16-month high as the likely continuation of easy monetary policy from the Federal Reserve dominated the market.
The US central bank is forecast to leave the federal funds rate at 0-0.25 per cent at the conclusion of its meeting today while reiterating that rates will remain at ultra-low levels for an extended period, with investors also looking for clues about what will happen when the current round of quantitative easing ends in June.
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Source: FT.com
Majority of Germans oblivious to 'three-pillar' pension system
April 26, 2011-- The majority of working Germans have never even heard of the so-called 'three pillars' of retirement provision, according to a recent survey by Fidelity International.
The investment manager surveyed 1,000 employees and workers in Germany between the ages of 18 and 55 in March this year and found that 60% of respondents were ignorant of the three-pillar system.
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Source: IP&E
Eurex admits Nanhua Futures Hong Kong
April 21, 2011-The international derivatives exchange Eurex announced today that it has admitted Nanhua Futures (Hong Kong) Co. Ltd. as a new trading participant based in Hong Kong. Nanhua Futures is the Hong Kong subsidiary of one of the leading futures brokers from the People's Republic of China.
David Luo, CEO of Nanhua Futures, said, “We are very honored to become a member of one of the leading derivatives exchanges in the world. Nanhua is committed to providing its clients with high-quality services, high efficiency and expertise. Being a member of Eurex will further leverage our business and our services and could help us to even better meet clients’ needs. Moreover, it could enable Nanhua to develop the internationalisation further.”
“We are very pleased to admit Nanhua Futures to our global member network”, said Michael Peters, member of the Eurex Executive Board. “Through this connection, Nanhua Futures can offer its customer base direct and reliable access to our international trading network out of Hong Kong. We are currently experiencing a growing interest from clients headquartered in China demanding direct access to our global product suite.”
One of Eurex’s core strategic objectives is the expansion of its business activities in the Asia-Pacific region. Representative offices in Hong Kong, Singapore and Tokyo were opened in 2009. Currently, there are five Hong Kong-based Eurex members, of which Nanhua is the second Chinese broker that has been admitted. Altogether, there are 19 members connected from the Asia-Pacific region, and several more companies are in the admission process. The volume generated by the Asian members has increased by one-third in 2010 compared with 2009.
Source: Eurex
Turbulent week for European stocks ends in gains
April 21, 2011--European equity markets suffered another turbulent week, succumbing early on to global government debt concerns, before recovering in robust fashion following a number of upbeat earnings reports.
On Monday the FTSE Eurofirst 300 fell 1.7 per cent, hitting its lowest level in more than three weeks after Standard & Poor’s, the rating agency, revised lower its long-term outlook on US debt.
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Source: FT.com
High risk warning threat to growth of exchange traded funds
April 20, 2011-Exchange traded funds (ETFs) are among the biggest investment success stories of recent years, their low charges attracting billions of pounds from investors.
Their popularity continues to grow rapidly but that could now be checked after concerns were raised over the risks they may pose to investors.
ETFs are collective funds that are traded on the stock exchange and, like trackers, seek to replicate a index or a group, such as commodities, currencies or countries. At the most basic, for example, a FTSE 100 ETF would track the FTSE 100.
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Source: The Scotsman
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