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New Lipper ETF Report Q3-2010
December 2, 2010--Executive Summary
Assets under management (AUM) in the pan-European exchange-traded funds (ETF) segment continued to show a
growth pattern over third quarter 2010, gaining 5.80% to 197.06 billion euros—a surprising inflow because of movements in the global stock markets. Analysis of the individual asset classes
shows that only money market ETFs had decreasing AUM, while all other asset classes enjoyed rising AUM.
The average monthly turnover in euros for third quarter 2010 surprisingly was down 30.88%—from 51.41 billion euros for
second quarter 2010 to 35.54 billion euros for third quarter 2010. While looking at these numbers, one needs to bear in mind that the numbers for Q2-2010 were driven by a new all-time high in on-exchange turnover in May 2010.
This report shows that the ETF segment remained in general very concentrated; the five largest exchanges accounted for 90.76% of the average quarterly on-exchange turnover, while the five largest promoters accounted for 76.97% of the AUM and the 50 largest
funds accounted for 47.58% of the total net assets in the ETF segment.
1.0 Pan-European ETF Turnover in Euros
The total turnover of ETFs traded on the exchanges within this report decreased in third quarter 2010 to a monthly average of 35.54 billion euros. This number was 30.88% lower than the turnover for second quarter 2010, but still 9.46% higher than the turnover for third quarter 2009. As the picture below depicts, trading activity normally highly correlates with market volatility. The falling volatility and rising equity markets led to lower turnover numbers on the pan-European exchanges in third quarter 2010.
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Source: Lipper EMEA Research
CESR Updates The List Of Measures Recently Taken By Members Regarding Short-Selling
December 2, 2010--CESR published on 22 September 2008 a statement that facilitates an overview of actions taken by CESR Members in relation to short-selling. The statement paper includes either the statements or links to the statements published by CESR Members explaining the measures taken. This paper is not a comparison of the measures taken.
CESR updates the list of measures recently taken by Members regarding short-selling. The documents will be updated on a continuous basis; the latest update has been provided by the Austrain FMA.
view the Measures adopted by CESR Members on short selling
-Updated-
Source: CESR
EEX trading results for Natural Gas and CO2 Emission Rights in
December 2, 2010--In November, the trading volume on the EEX Spot Market
for Natural Gas amounted to 1,853,788 MWh (GASPOOL and NCG market areas)
compared to 992,064 MWh in November 2009. The volume included 701,644 MWh
traded in the Within-Day Gas product which was launched on 1 March 2010. The Spot Market price for the day-ahead delivery of Natural Gas ranged between EUR 17.70 per MWh and EUR 22.80 per MWh.
The volumes on the Derivatives Market
The volumes on the Derivatives Market for Natural Gas (GASPOOL and NCG market
areas) amounted to 2,672,770 MWh (November 2009: 1,593,167 MWh). On 30 November 2010, the open interest was 20,119,073 MWh. On 30 November 2010 Natural Gas prices for delivery in 2011 were fixed at EUR 21.82 per MWh (GASPOOL) and EUR 21.88 per MWh (NCG), respectively.
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Source: European Energy Exchange AG
Boerse Stuttgart reports a turnover of almost EUR 9.3 billion
December 2, 2010--In November 2010 Boerse Stuttgart, according to its order book statistics, had a turnover of almost EUR 9.3 billion, an increase of almost 20 percent in a month-on-month comparison. Trading volumes from January up until and including November amounted to around EUR 86.4 billion.
At Europe's biggest financial market for securitised derivatives this asset class also accounted for a large part of monthly turnover. In total Boerse Stuttgart's turnover in leverage and investment products amounted to almost EUR 4.9 billion in November. There was increased trading in warrants and knock-out products. Trading volumes for these securities were around 27 percent or 20 percent higher than the previous month's figures.
Bond trading at the Stuttgart Stock Exchange rose by more than 30 percent, exceeding EUR 2.46 billion. The lion's share of turnover in this trading segment was generated by corporate bonds where trading volumes in November amounted to EUR 1.55 billion. The approximately 30 percent growth in turnover in comparison with the previous month partly results from trading activities in the Bondm SME segment, with two new corporate bonds from Air Berlin and 3W Power Holdings being admitted to this trading segment in November.
Boerse Stuttgart can also report a significant growth in equities trading for this month. Trading volumes here amounted to more than EUR 1.09 billion. As in the previous month, trading volumes for international equities rose significantly, by more than 33 percent. In the case of international equities, investors continued to be particularly active in trading commodities. In addition to gold and silver, rare earth equities from China attracted particularly strong demand.
The boom in exchange traded funds (EFTs) continues unabated with trading volumes on the Stuttgart Stock Exchange up by 37 percent month-on-month, rising to more than EUR 707 million. In a year-on-year comparison trading volumes for ETFs more than doubled in November.
Source: Boerse Stuttgart
Istanbul becomes fastest city to pull out of crisis
November 2, 2010--The Global Metro Monitor report, published by the Washington, D.C.-based Brookings Institution, has revealed that Istanbul is the city recovering the fastest from the Great Recession.
According to the report, 150 metropolitan economies have been analyzed in the wake of the global financial crisis. “Metro areas, which are economically integrated collections of cities, suburbs and often surrounding rural areas, are centers of high-value economic activity in their respective nations and worldwide. And because metros form the fundamental bases for national and international economies, understanding their relative positioning before, during and after the Great Recession provides important evidence on emerging shifts in the location of global economic resilience and future growth,” stated the report to underline the importance of metropolitan cities in national economies.
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Source: Todays Zaman
Receive a Free Copy of the S&P Power Picks 2011 - or Attend the Presentation Wednesday 8th December - London
December 2, 2010--&P Equity Research invites you to 'POWER PICKS 2011' - Wednesday 8 December, London (Merchant Taylor's Hall), 17.00 - 18.00
Financial professionals and portfolio managers are invited to join S&P for
an exclusive view of S&P Equity Research's expectations for 2011, direct
from the research team, identifying some of the key themes, sectors and
stocks we expect to outperform the broader market.
Our analyst team will be on hand to answer specific sector questions.
As there is limited seating for this event,
more info
Source: ETF Express
Deutsche Börse: Turnover on Xetra up 17 percent in November
Turnover on Xetra up 17 percent in November
17.8 million trades executed on Xetra/
Total volume of 130.7 billion euros traded on all stock exchanges in
Germany
December 1, 2010--In November, 113.6 billion euros were traded on Xetra and on the floor at Börse Frankfurt – an increase of 18 percent year-on-year (November 2009: 96.5 billion
euros). Of the 113.6 billion euros, 106.0 billion euros were traded on
Xetra, an increase of 17 percent year-on-year (November 2009: 90.5 billion euros). 7.6billion euros were traded on the floor, an increase by 27 percent(November 2009: 6.0 billion euros).
Turnover in German equities on Deutsche Börse’s cash markets amounted to
90.6 billion euros, while foreign equities turnover stood at 3.8 billion euros.
Xetra and the floor at Börse Frankfurt accounted for 97 percent of the transaction volume in German equities on all stock exchanges in Germany. 79 percent of foreign equities traded on stock exchanges in Germany were traded on Xetra and on the floor in Frankfurt.
In November, 17.8 million transactions were executed on Xetra, an increase of 36 percent against the same period last year (November 2009: 13.1 million).
According to the Xetra liquidity measure (XLM), Siemens AG was the most liquid DAX blue chip in November with 5.01 basis points (bp) for an order volume of 100,000 euros. Deutsche Postbank AG was the most liquid MDAX stock with 13.59 bp. The most liquid ETF was DB X-TR.II-EONIA T.R. 1C with 0.33 bp. The most liquid foreign stock was Nokia Corp. with 10.31 bp. XLM measures liquidity inelectronic securities trading on the basis of the implicit transaction costs.
It is expressed in basis points (1 bp = 0.01 percent); a low XLM denotes high liquidity in a security.
Deutsche Bank AG was the DAX stock with the highest turnover on Xetra in November at 7.2 billion euros. Lanxess AG was the top MDAX stock at 832.7 million euros, while Balda AG led the SDAX stocks at 105.3 million euros and Aixtron AG headed the TecDAX at 544.5 million euros. At 1.5 billion euros, the iShares DAX was the exchange-traded fund with the highest turnover.
On all stock exchanges in Germany 130.7 billion euros were traded in November
according to order book turnover statistics – an increase of 21 percent
compared year-on-year (November 2009: 108.0 billion euros).
Source: Deutsche Boerse
Turnover on Xetra up 17 Percent in November
17.8 million trades executed on Xetra/ Total volume of 130.7 billion euros traded on all stock exchanges in Germany
December 1, 2010--In November, 113.6 billion euros were traded on Xetra and on the floor at Börse Frankfurt – an increase of 18 percent year-on-year (November 2009: 96.5 billion euros). Of the 113.6 billion euros, 106.0 billion euros were traded on Xetra, an increase of 17 percent year-on-year (November 2009: 90.5 billion euros). 7.6 billion euros were traded on the floor, an increase by 27 percent (November 2009: 6.0 billion euros).
Turnover in German equities on Deutsche Börse’s cash markets amounted to 90.6 billion euros, while foreign equities turnover stood at 3.8 billion euros. Xetra and the floor at Börse Frankfurt accounted for 97 percent of the transaction volume in German equities on all stock exchanges in Germany. 79 percent of foreign equities traded on stock exchanges in Germany were traded on Xetra and on the floor in Frankfurt.
In November, 17.8 million transactions were executed on Xetra, an increase of 36 percent against the same period last year (November 2009: 13.1 million).
According to the Xetra liquidity measure (XLM), Siemens AG was the most liquid DAX blue chip in November with 5.01 basis points (bp) for an order volume of 100,000 euros. Deutsche Postbank AG was the most liquid MDAX stock with 13.59 bp. The most liquid ETF was DB X-TR.II-EONIA T.R. 1C with 0.33 bp. The most liquid foreign stock was Nokia Corp. with 10.31 bp. XLM measures liquidity in electronic securities trading on the basis of the implicit transaction costs. It is expressed in basis points (1 bp = 0.01 percent); a low XLM denotes high liquidity in a security.
Deutsche Bank AG was the DAX stock with the highest turnover on Xetra in November at 7.2 billion euros. Lanxess AG was the top MDAX stock at 832.7 million euros, while Balda AG led the SDAX stocks at 105.3 million euros and Aixtron AG headed the TecDAX at 544.5 million euros. At 1.5 billion euros, the iShares DAX was the exchange-traded fund with the highest turnover.
On all stock exchanges in Germany 130.7 billion euros were traded in November according to order book turnover statistics – an increase of 21 percent compared year-on-year (November 2009: 108.0 billion euros).
Source: Eurex
Europe 'determined' to defend euro: Lagarde
December 1, 2010--France's Finance Minister Christine Lagarde said on Wednesday that European states are determined both to defend the euro and to reassure markets over their planned permanent bail-out fund.
"The Europeans -- and I think we demonstrated this well on Sunday by day and by night -- are obviously united, determined and engaged in defending their currency and their single monetary zone," Lagarde told reporters.
On Sunday, EU finance ministers agreed an emergency loan package to see Ireland through its debt crisis and on a permanent bail-out mechanism to protect other eurozone economies against future shocks.
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Source: EUbusiness
December 2010: db x-trackers launches 10 more ETF in Spain.
December 1, 2010--Deutsche Bank’s exchange-traded funds (ETF) platform, db x-trackers, has broadened its presence in Spain with the launch of 10 additional ETFs on the Bolsa de Madrid.
The new launch follows db x-trackers’ debut on the Spanish stock market on November 25th, and takes the total number of db x-trackers listed in Spain to 21.
“With these new listings we have given investors greater flexibility to meet their asset allocation and investment needs,” said Engracia Borque, responsible for db x-trackers ETFs in Spain.The new listings provide exposure to developed and emerging market equities, to two short indices, and to a private equity index which replicates the performance of 25 of the world’s most liquid listed private equity companies. “The risk and return characteristics of private equity are now much more accessible to investors thanks to this listing of the db x-trackers LPX MM Private Equity ETF. Private equity exposure can now be taken via a liquid, diversified and easily traded product,” said Borque.
Listing details for the new ETFs are as follows:
Fund |
ISIN |
Reuters Code |
Bloomberg Ticker |
All-in Fee |
| EURO STOXX® SELECT DIVIDEND 30 ETF | LU0292095535 |
DXD3E.MC |
DXD3E SM |
0.30% |
| STOXX® 600 BANKS SHORT DAILY ETF | LU0322249037 |
DXS7S.MC |
DXS7S SM |
0.30% |
| LPX MM® PRIVATE EQUITY ETF | LU0322250712 |
DXLPE.MC |
DXLPE SM |
0.70% |
| MSCI JAPAN TRN INDEX ETF | LU0274209740 |
DXMJP.MC |
DXMJP SM |
0.50% |
| MSCI RUSSIA CAPPED INDEX ETF | LU0322252502 |
DXMRC.MC |
DXMRC SM |
0.65% |
| STOXX® 600 ETF | LU0328475792 |
DXSX6.MC |
DXSX6 SM |
0.20% |
| MSCI WORLD TRN INDEX ETF | LU0274208692 |
DXMWO.MC |
DXMWO SM |
0.45% |
| S&P 500 INVERSE DAILY ETF | LU0322251520 |
DXSPS.MC |
DXSPS SM |
0.50% |
| MSCI MEXICO TRN INDEX ETF | LU0476289466 |
DXMEX.MC |
DXMEX SM |
0.65% |
| EURO STOXX 50® ETF | LU0380865021 |
DXESC.MC |
DXESC SM |
0.00% |
Source: db x-trackers
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