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ETF Landscape: European STOXX 600 Sector ETF Net Flows for Week Ending 31-Dec-10
January 5, 2011--For the week ending 31 December 2010, there were US$54.0 Mn net inflows to STOXX Europe 600 sector ETFs. The largest sector ETF net inflows last week were in healthcare with US$36.9 Mn followed by industrial goods and services with US$24.5 Mn net inflows while chemicals experienced net outflows of US$21.7 Mn.
In 2010, STOXX Europe 600 sector ETFs saw US$120.0 Mn net outflows. Basic resources saw the largest net outflows with US$223.3 Mn, followed by food and beverage with US$179.2 Mn net outflows while personal and household goods experienced the largest net inflows with US$122.7 Mn.
As of 31 December 2010, there is US$9.5 Bn AUM invested in the STOXX sector ETFs which is more than double the US$3.8 Bn open interest in the sector futures. The ETF AUM is greater than the open interest in the corresponding futures contract in all 19 sectors.
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Source: Global ETF Research & Implementation Strategy Team, BlackRock
Deutsche Börse eyes joint clearing with rivals
January 5, 2011--Deutsche Börse, operator of one of Europe’s largest clearing houses, has talked to rival clearers about consolidation in cash equities clearing as a revamp of the region’s securities post-trade business appears imminent.
Clearing, viewed as the mundane processing of trades on stock and derivatives exchanges, has moved centre stage following the financial crisis as regulators insist on a greater use of clearing houses in the opaque derivatives markets.
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Source: FT.com
Boerse Stuttgart's turnover for 2010 tops EUR 94 billion
January 5, 2010--Boerse Stuttgart's order book statistics for 2010 showed a turnover of more than EUR 94 billion. This meant that the total trading volume was 3.9 percent down on last year's figures. The Stuttgart Stock Exchange recorded growth mainly in the trading of equities, securitised derivatives and investment funds.
"With a total trading volume of more than EUR 50 billion for securitised derivatives we were able to consolidate our position as Europe's market leader for this asset class," said Christoph Lammersdorf, CEO of Boerse Stuttgart Holding GmbH. The strong 37 percent growth in the trading of bonus certificates, 22 percent growth in the trading of discount certificates and 67 percent growth in the trading of reverse convertibles deserve a particular mention.
Stuttgart is Germany's market leader for trading in corporate bonds. With a trading volume of EUR 15 billion, these account for significantly more than half of all bonds traded at the Stuttgart Stock Exchange. In 2010 trading in equities was also up by almost 30 percent, so that the total annual turnover grew to more than EUR 10 billion.
Trading in investment funds showed particularly strong rates of growth last year. In this segment Boerse Stuttgart's turnover for 2010 amounted to more than EUR 6.7 billion. This meant that trading volumes were up by almost 57 percent in a year-on-year comparison, the growth mainly being accounted for by exchange-traded funds (ETFs). In 2010 this segment saw a huge 63 percent boost in turnover to more than EUR 5.7 billion.
In December 2010 monthly turnover at the Stuttgart Stock Exchange amounted to around EUR 7.7 billion and, due to the Christmas and New Year period, it was lower than in November, the month with the heaviest trading when turnover amounted to almost EUR 9.3 billion.
Source: Boerse Stuttgart
Strong Developments At NASDAQ OMX Baltic
January 4, 2011--– NASDAQ OMX Baltic today announced that during 2010, Baltic general indices have performed outstandingly compared to other European and even global average increases. The trading activity has increased at the markets operated by NASDAQ OMX Baltic exchanges compared to the year before counted by daily number of trades and the traded total value reached almost 2009 level.
The NASDAQ OMX Baltic Benchmark index increased to 534 points in the fourth quarter, rising 70% compared to the beginning of the year. In 2010, the number of share trades per day amounted to 1 352 trades. The yearly share trading amounted to EUR 488 million.
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Source: NASDAQ OMX
Strong Growth At NASDAQ OMX Nordic
January 4, 2010--During 2010 activity has increased significantly at the markets operated by NASDAQ OMX Nordic compared to the year before. Based on trading until Dec 31 the average daily share trading amounted to EUR 2.5 billion, (2009: EUR 2.2 billion). The number of share trades per day amounted to 285,000 trades per day (2009: 214,000), an increase of 33% compared to 2009. The total derivatives trading amounted to 546,000 contracts per day, (2009: 400,000 contracts per day), up with 37%.
Hans-Ole Jochumsen, Executive Vice President commented, “2010 has been a very strong year for the Nordic markets. Investors have had exceptional returns on their investments and we look forward to continuous growth in 2011. Our indexes have increased in with 26 percent in Stockholm, 33 percent in Copenhagen and 23 percent in Helsinki. This can be compared with an average increase by 4 percent in European and a global average increase of 12 percent”.
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Source: Mondovisione
EU authority to head off economic crises
January 4, 2011--European economic policies will come under more scrutiny from this month when the European Central Bank takes the lead in a new financial police authority with whistle-blowing powers to prevent future crises.
The European systemic risk board (ESRB), chaired by Jean-Claude Trichet, ECB president, will have powers to issue warnings and recommendations when it sees threats to economies or financial systems. But it could have a tough time proving that such limited powers, wielded by European officials, can prevent financial market turmoil on the scale seen in the past three years
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Source: FT.com
Eurozone inflation over 2 pct, first time in two years
January 4, 2011--Eurozone inflation was expected to accelerate to 2.2 percent in December 2010, the first time for two years that the indicator has risen above 2.0 percent, the EU's statistics agency said on Tuesday.
The 12-month rate rose from 1.9 percent in November and October, when prices remained just below the 2.0-percent point the European Central Bank has set as its target for price stability underpinning healthy economic growth, Eurostat said.
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Source: EUbusiness
ESMA publishes Frequently asked questions - a guide to understanding ESMA
January 3, 2011-This document is intended as an explanatory guide providing an overview of the main elements of ESMA?s functioning. The questions and answers included here may be supplemented with further information as and when further information or queries arise and will be updated on ESMA's website www.esma.europa.eu.
This guide is not of a legal nature and it is recommended that any queries which require legal certainty should refer to the Regulation1 establishing ESMA itself or the relevant sector legislation. The internal rules and procedures for ESMA will be adopted by the Board of Supervisors and Management Board in the course of January 2011 and will be added to the website when final.
view the document-Frequently Asked Questions
-A Guide to Understanding ESMA
Source: European Securities and Markets Authority (ESMA)
New sector indices for Swiss Bonds
January 3, 2011--SIX Swiss Exchange has added 180 new indices to the SBI Index family as at 3 January 2011. A number of SBI sector indices have been launched based on the ICB Fixed Income classification benchmark, which classifies issuers according to their economic activity, and a model for guarantee types and collateral;
this model was developed by SIX Swiss Exchange in partnership with the Swiss Bond Commission (SBC) and allows individual issues to be allocated to sub-indices based on bond-specific guarantees and collateral.
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Source: SIX Swiss Exchange
Total trading volume at Eurex Group at 2.64 billion contracts in 2010
Stable average daily volume in 2010 with approximately 10.4 million contracts/ Eurex turnover of almost 122 million contracts in December 2010/ Eurex Repo with strong growth in all markets in 2010
January 3, 2011--The international derivatives markets of Eurex Group ended 2010 with a turnover of approximately 2.64 billion contracts, compared with 2.65 billion in 2009.
The total volume for 2010 splits into 1.9 billion contracts traded at Eurex (2009: 1.7 billion) and 745.2 million contracts traded at the International Securities Exchange (ISE) (2009: 960.2 million). This corresponds to a daily average trading volume of 10.4 million contracts compared with 10.5 million in 2009.
At Eurex, equity index derivatives was the largest segment in 2010 with a total volume of 805.1 million contracts (2009: 797.5 million). Derivatives on the EURO STOXX 50® index were the largest single product with 372.2 million futures and 284.7 million options. The equity derivatives segment (options and single stock futures) saw 511.1 million contracts (2009: 421.3 million). In 2010, the interest rate derivatives segment reached a total of 574.8 million contracts (2009: 465.7 million). The segment dividend derivatives recorded the strongest growth of 78 percent with 4.5 million contracts.
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Source: Eurex
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