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Xetra Turnover up 6 Percent in July
14.6 million trades executed on Xetra/ Total volume of 107.1 billion euros traded on all stock exchanges in Germany
August 2, 2010-- In July, 94.9 billion euros were traded on Xetra and on the floor at Börse Frankfurt – an increase of 5 percent year-on-year (July 2009: 90.4 billion euros). Of the 94.9 billion euros, 89.3 billion euros were traded on Xetra, an increase of 6 percent year-on-year (July 2009: 84.1 billion euros). 5.7 billion euros were traded on the floor, a decrease by 11 percent (July 2009: 6.3 billion euros).
Turnover in German equities on Deutsche Börse’s cash markets amounted to 80 billion euros, while foreign equities turnover stood at 12.1 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 July, 14.6 million transactions were executed on Xetra, an increase of 7 percent against the same period last year (July 2009: 13.7 million).
According to the Xetra liquidity measure (XLM), SAP AG was the most liquid DAX blue chip in July with 5.49 basis points (bp) for an order volume of 100,000 euros. EADS was the most liquid MDAX stock with 18.29 bp. The most liquid ETF was DB X-TR.II-EONIA T.R. 1C with 0.34 bp. The most liquid foreign stock was Royal Dutch Shell with 10.6 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.
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Source: Deutsche Börse
ISE will open the trading on Monday with Kuveyt Türk Participation Bank Inc. B Type Gold ETF
August 2, 2010--On the occasion of the initial public offering of “Kuveyt Türk Participation Bank Inc. B Type Gold ETF”, executives and guests of the company and the intermediaries will visit the Istanbul Stock Exchange (ISE) and ring the opening bell of the Stock Market on Monday, August 2, 2010.
Mr. Hüseyin ERKAN, the ISE Chairman&CEO, Mr. Mohammed AL OMAR, Chairman of Kuveyt Türk Participation Bank B Type Gold Exchange Traded Fund (ETF), and Mr. Ufuk UYAN will deliver speeches, following which, the officials will ring the opening bell and start the session at 09:30.
Participation certificates of Kuveyt Türk Participation Bank Inc. B Type Gold ETF will start to be traded on the ISE Collective Products Market under the ticker symbol “GOLDP.F”
Source: Istanbul Stock Exchange (ISE)
Asset managers say OTC fees will hit savers
August 2, 2010--Europe’s biggest asset managers have claimed that the drive by global regulators to force over-the-counter derivatives into clearing houses will hurt pension funds and ultimately hit ordinary savers because of the extra costs involved.
They include Investec, Threadneedle, Schroders, Aviva, F&C and the Dutch Fund and Asset Management Association.
The claim comes only weeks after Barack Obama, US president, signed into law sweeping financial regulations partly aimed at clamping down on the vast OTC derivatives markets.
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Source: FT.com
Sterling surges to highest level in 10 months
August 2, 2010--Sterling on Monday surged to its highest level in more than 10 months on a trade-weighted basis as robust earnings from banks and buoyant manufacturing data fuelled optimism about the UK economy.
The pound rose 1.4 per cent to a peak of $1.5908 against the dollar – its highest in six months versus the US currency – by late afternoon in London. The Bank of England’s trade-weighted index, which tracks the pound against a basket of currencies, gained 0.85 per cent to its highest level since September 2009.
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Source: FT.com
Eurozone inflation rises sharply to 1.7 per cent
July 30, 2010--- Inflation in the 16-nation eurozone is expected to rise sharply to 1.7 percent in July, the EU forecast on Friday, although analysts saw no cause for alarm citing still-record unemployment.
If confirmed, the latest European Union forecast would mark the highest twelve-month inflation figure since November 2008, when it stood at 2.1 percent -- just above the European Central Bank's core economic target.
The rate had slipped to 1.4 percent in June, but has risen almost continuously from 0.5 percent last November as the bloc emerged from the worst recession since the 1930s.
Martin van Vliet, an economist with Dutch-based ING bank, suspected a rebound in energy price inflation and a further pick-up in food price inflation were responsible, plus rises in VAT in Spain, Portugal, Greece, and Finland.
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Source: EUbusiness
German government bonds offer strongest return, according to S&P Index
July 29, 2010--German government bonds returned almost 7% in the first half of 2010, according to Standard & Poor's (S&P) Eurozone Government Bond index.
At 6.99%, Germany offered more than double the average return, leading the field ahead of the Netherlands, Austria and Slovenia with between 6.7% and 6.3%.
In the wake of its sovereign debt crisis, Greece's bonds dropped in value by almost 20%, with Portugal a distant second after devaluing by 5.5%
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Source: IP&E
Billionaire European family to launch asset management business
July 29, 2010--The Bertarellis, one of the world's wealthiest families, are to build a global asset management franchise and have hired a senior BNY Mellon banker to run it.
Asked what type of client the new venture would target, a spokesman for the family told campdenFB.com: "We will not target a single niche – although a retail focus is unlikely – a lot of it is dependent on acquisitions."
The new firm, the name of which has not been disclosed, will be part of Kedge Capital, the Bertarelli's family office. Third-generation Ernesto Bertarelli (pictured), chairman of Jersey-based Kedge Captial, is leading the initiative.
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Source: Campden FB
Long Euro ETC rallies as Eurozone sentiment continues to improve
July 29, 2010--ETFS Long EUR Short USD has risen by over five per cent over the past month, buoyed by the positive results from the European Commission’s stress tests for the banking system, according to ETF Securities.
Market positioning remains negative the Euro, indicating that there is scope for further Euro gains as long as there is no new negative news from the Eurozone.
In the medium-term, however, with sovereign risks in Europe’s periphery still high, the underlying health of most Eurozone countries still weak and needed fiscal tightening likely to continue to drag growth down, recent Euro strength would appear to be temporary.
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Source: ETF Express
CESR proposes changes to MiFID to improve securities markets’ functioning, transparency and investor protection
July 29, 2010--CESR publishes today the first set of technical advice to the European Commission (Commission) in the context of reviewing MiFID, the Markets in Financial Instruments Directive, which entered into force in November 2007. This covers CESR?s advice on equity markets (Ref. CESR/10-802), non-equity markets transparency (Ref. CESR/10-799), transaction reporting (Ref. CESR/10-808) and investor protection and intermediaries (Ref. CESR/10-859) as well as part of the responses (Ref. CESR/10-860) to the request for additional information in relation to the review of MiFID that the Commission presented to CESR in March 2010.
The advice that CESR puts forward is both extensive and highly significant, tackling the key issues that CESR and market participants have identified as needing action. They aim at improving pre- and post-trade transparency and the orderly functioning of the markets, strengthening investor protection and ensuring securities regulators are equipped with tools which enable them to effectively monitor trading. CESR?s recommendations take into account market developments since MiFID was originally drafted. Importantly, if taken forward by the Commission, they would impact many elements of securities market regulation and constitute a major change in the EU regulatory landscape.
The development of the advice has benefited from a number of public consultations, open hearings and other types of exchange of views in a range of meetings and workshops organised with market participants as well as with representatives of retail investors. These contacts have been pivotal in shaping CESR?s advice.
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Source: CESR
Troika Dialog to list ETF in Russia
July 29, 2010--Troika Dialog asset management plans to unveil an ETF tracking the RTS Standard index on the RTS exchange in Russia on August 1.
The launch of Troika Dialog - Index RTS Standard represents the firm's first index fund offering, and marks the first such fund on Russia's collective investments market tracking the RTS index.
The underlying RTS Standard index comprises securities in the 15 most liquid and highly-capitalised firms on the Russian equity market. These include Gazprom, Sberbank and Lukoil.
The fund's liquidity will be driven by Troika Dialog Investment Company as market maker for the shares. The firm says the target bid-ask spread is 5-10 basis points.
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Source: ifaonline.com
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