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Deutsche Börse: Xetra turnover slightly up in August
14.4 million trades executed on Xetra/ Total volume of 102.7 billion euros traded on all stock exchanges in Germany
September 1, 2010-- In August, 89.7 billion euros were traded on Xetra and on the floor at Börse Frankfurt – an increase of 3 percent year-on-year (August 2009: 87.5 billion euros). Of the 89.7 billion euros, 83.8 billion euros were traded on Xetra, an increase of 3 percent year-on-year (August 2009: 81.1 billion euros). 5.9 billion euros were traded on the floor, a decrease by 7 percent (August 2009: 6.4 billion euros).
Turnover in German equities on Deutsche Börse’s cash markets amounted to 75.8 billion euros, while foreign equities turnover stood at 10.9 billion euros. Xetra and the floor at Börse Frankfurt accounted for 96 percent of the transaction volume in German equities on all stock exchanges in Germany. 89 percent of foreign equities traded on stock exchanges in Germany were traded on Xetra and on the floor in Frankfurt.
In August, 14.4 million transactions were executed on Xetra, an increase of 10 percent against the same period last year (August 2009: 13 million).
According to the Xetra liquidity measure (XLM), SAP AG was the most liquid DAX blue chip in August with 6.19 basis points (bp) for an order volume of 100,000 euros. EADS was the most liquid MDAX stock with 19.33 bp. The most liquid ETF was DB X-TR.II-EONIA T.R. 1C with 0.31 bp. The most liquid foreign stock was Royal Dutch Shell with 10.82 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.
New Lists of shares for calculation of RTS Index, RTS Standard Index, RTS-2 Index, RTS Siberia Index and Sectoral Indices come into effect
September 1, 2010--For the period of September 15 – December 14, 2010 new constituent lists of RTS Indices, approved by the OJSC "Russian Trading System" Stock Exchange on recommendation by the Index Committee, will come into effect.
Ordinary shares of OJSC LSR Group and V.Bank will be transferred from the waiting list to the new constituent lists of RTS Indices. They will replace ordinary shares of JSC "OPIN" and Ufaneftekhim which will be removed from the RTS Index due to the smallest capitalization of all constituents calculated on free-float basis.
EU experts sceptical of financial transactions tax
August 31, 2010-- European Union experts reached a gloomy prognosis on Tuesday for a tax on the financial sector championed by France and Germany.
In a 40-page document prepared for national officials in Brussels and seen by AFP, the European Commission examines ideas for taxes either on financial transactions, described as a "turnover tax," or on financial activity, targeting "profits and remuneration."
"Given the complexity of some financial transactions, the impact of a transaction tax and the feasibility of such a tax remain largely uncertain in many cases," the document argues.
"Given this complexity, there may be considerable unintended effects and the possibilities of circumvention of the tax increase with the complexity of the operation."
Flash estimate - August 2010 Euro area inflation estimated at 1.6%
August 31, 2010--Euro area1 annual inflation2 is expected to be 1.6% in August 2010 according to a flash estimate issued by Eurostat, the statistical office of the European Union. It was 1.7% in July3.
Computation of flash estimates
Euro area inflation is measured by the Monetary Union Index of Consumer Prices (MUICP). To compute the MUICP flash estimates, Eurostat uses early price information relating to the reference month from Member States for which data are available4 as well as early information about energy prices.
The flash estimation procedure for the MUICP combines historical information with partial information on price developments in the most recent months to give a total index for the euro area. No detailed breakdown is available. Experience has shown the procedure to be reliable (21 times exactly anticipating the inflation rate and 3 times differing by 0.1 over the last two years).
Euro area unemployment rate stable at 10.0%
EU27 stable at 9.6%
August 31, 2010--The euro area1 (EA16) seasonally-adjusted2 unemployment rate3 was 10.0% in July 2010, unchanged compared with June4. It was 9.6% in July 2009. The EU271 unemployment rate was 9.6% in July 2010, unchanged compared with June4. It was 9.1% in July 2009.
Eurostat estimates that 23.057 million men and women in the EU27, of whom 15.833 million were in the euro area, were unemployed in July 2010. Compared with June, the number of persons unemployed decreased by 45 000 in the EU27 and by 8 000 in the euro area. Compared with July 2009, unemployment rose by 1.108 million in the EU27 and by 0.668 million in the euro area.
These figures are published by Eurostat, the statistical office of the European Union.
Among the Member States, the lowest unemployment rates were recorded in Austria (3.8%) and the Netherlands (4.4% in June 2010), and the highest rates in Spain (20.3%), Latvia (20.1% in the first quarter of 2010) and Estonia (18.6% in the second quarter of 2010).
Europe targets commodities derivatives trade
August 31, 2010--Europe warned on Tuesday of moves to rein in commodity derivatives trading under a French-led drive to tame price distortions for raw materials ranging from oil to grain.
France launched the onslaught, calling on the European Union and the Group of 20 countries to take urgent steps to draft new common rules after a summer of fears about the fallout from soaring grain prices.
Simultaneously, the EU commissioner responsible for writing the rules governing all financial trading, former French foreign and agriculture minister Michel Barnier, said he "shares fully" the concerns in Paris.
Barnier told AFP that the "sometimes brutal" evolution of prices in commodities markets would be tackled in a series of proposals he will table to EU member states and the European parliament next month.
He said derivatives trading in energy, metals and agricultural products needs to be controlled "at a European level and a world level."
STOXX Changes Composition Of Blue-Chip Indices - Regular Annual Review To Be Effective On September 20, 2010
August 31, 2010--STOXX Limited, a global index provider and creator of the
leading European equity indices, today announced the results of the regular annual review of the
STOXX Europe 50, EURO STOXX 50, STOXX Nordic 30, STOXX EU Enlarged 15 and STOXX Sub Balkan 30 indices, as well as the results of the second semi-annual review of the STOXX
Eastern Europe 50 Index
All changes will be effective with the open of European markets on
September 20, 2010.
ICAP to take Euro interest rate swaps trading electronic
August 31, 2010--ICAP plc, the world’s premier interdealer broker, will launch an electronic market for trading Euro interest rate swaps (Euro IRS) with market maker support, bringing increased transparency and greater efficiency, as well as lower transaction costs to the world’s largest OTC derivative market.
This initiative will make a substantial contribution towards further reducing operational and systemic risks in trading OTC derivatives.
ICAP’s electronic interest rate swap platform will be live on 6 September 2010 and will take ICAP’s established voice liquidity and combine it with a proven electronic platform to create a single liquidity pool in a wide range of Euro IRS instruments out to 30 years maturity. The platform will be open to market making banks that have access to a clearing house for interest rate derivatives. Other banks will continue to have access via ICAP’s voice brokers.
Barclays Capital, Deutsche Bank and J.P. Morgan have each agreed to support the platform by providing streaming prices, alongside a number of other banks.
LCH.Clearnet has announced that from 1st October 2010 it will introduce free equity clearing for average daily member volumes of more than 150,000 trades a day
August 31, 2010--LCH.Clearnet has announced that from 1st October 2010 it will introduce free equity clearing for average daily member volumes of more than 150,000 trades a day.
According to the firm, the move will allow both exchanges and users to benefit from economies of scale and a lowered frictional cost of post trade.
Commenting on the move, Kevin Milne, director of post trade at London Stock Exchange, said: “We are very supportive of these tariff amendments.
“In combination with our own ongoing tariff cuts, this move will further reduce the overall cost of trading for our major clients and make the service more compelling. We will continue to work collaboratively with LCH.Clearnet and others to ensure that the users of our markets receive the most competitive offerings possible.”
Wayne Eagle, director of equities at LCH.Clearnet, added: “This supports our exchange clients, rewards customer loyalty and incentivises growth. Customers get economies of scale, without having to choose between cost and the quality of clearing.”
LCH.Clearnet also plans to introduce reduced clearing fees for members with average daily volumes of more than 50,000. Members will be given a marginal cost of 1p per trade to 75,000 trades, after which the marginal cost will drop to 0.5p.
CESR publishes two sets of guidance concerning Credit Rating Agencies
August 30, 2010--CESR’s Guidance on the enforcement practices and activities to be conducted under Article 21.3(a) of the Regulation
CESR’s Guidance on common standards for assessment of compliance of credit rating methodologies with the requirements set out in Article 8.3
