ELIX – The new European Electricity Index launched by EPEX Spot and EEX
October 7, 2010-- EPEX Spot and the European Energy Exchange (EEX) will launch a new European Electricity Index. Referred to as ELIX, the new index will be based on the actual market orders in the EPEX Spot auction for the market areas France, Germany/Austria and Switzerland
ELIX will be calculated in an auction based on the aggregated bid/offer curves of the existing market areas and the rules of EPEX Spot. ELIX is equal to the uncongested price, which means a price under the hypothesis of unlimited cross-border capacity be-tween these market areas. Similar to the existing day ahead market results it will be calculated for every hour of the delivery day. In addition, the average value for base (ELIX Day Base) and peak hours (ELIX Day Peak) will be calculated and published.
view E U R O P E 2 0 2 0-A European strategy for smart, sustainable and inclusive growth
Source: European Commission
Signs of French shift on EU hedge funds
October 6, 2010--A deal on pan-European rules for hedge funds and private equity funds moved closer after France dropped its outright opposition to a key element of the European Union’s proposals.
But the French concession was made subject to strict conditions, ensuring that there will be more lengthy negotiations ahead.
“This is progress but not yet a breakthrough,” said one diplomat.
Until Wednesday, Paris had been adamantly opposed to draft legislation that would give non-EU fund managers pan-EU marketing rights, or a so-called passport, provided certain conditions were met.
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Source: FT.com
ETF Landscape: STOXX Europe 600 Sector ETF Net Flows, week ending 01-Oct-10
October 6, 2010--Last week saw US$551.0 Mn net inflows to STOXX Europe 600 sector ETFs. The largest sector ETF net inflows last week were in Banks with US$205.7 Mn and Basic Resources with US$202.5 Mn while Food & Beverage experienced net outflows of US$82.9 Mn.
Year-to-date, STOXX Europe 600 sector ETFs have seen US$278.9 Mn net inflows. Media sector ETFs have seen the largest net inflows with US$159.5 Mn, followed by Banks with
US$154.2 Mn while Food & Beverage has experienced the largest net outflows of US$175.4 Mn YTD.
The US$9.6 Bn AUM invested in the ETFs is greater than the US$3.9 Bn open interest in the sector futures. The ETF AUM is greater than the open interest in the corresponding futures contract in 18 out of 19 sectors.
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Source: Global ETF Research & Implementation Strategy Team, BlackRock
FSA CP10/22: Quarterly consultation No.26
October 6, 2010--The FSA's Consultation paper CP10/22 is entitled 'Quarterly consultation (No. 26)'. It was published in October 2010. Comments on Chapters 2, 3, 7, 8 and 10 of this CP should reach us by 6 November 2010. Comments on all other Chapters should reach us by 6 December 2010.
view Financial Services Authority Quarterly consultation (No. 26)
Source: FSA.gov.uk
EPEX Spot / EEX Power Derivatives: Power Trading Results in September
October 6, 2010--In September 2010, a total volume of 118.6 TWh was
traded on the Power Spot and Derivatives Market operated by EPEX Spot SE and EEX Power Derivatives (same month of the previous year: 114.0 TWh).
Power trading on the day-ahead auctions on EPEX Spot accounted for a total of
22,100,813 MWh (September 2009: 15,400,783 MWh) and can be broken down as follows:
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Source: EEX
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