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Boerse Stuttgart reports turnover of 6.9 billion in June
July 1, 2010--In June 2010, Boerse Stuttgart had a turnover of some EUR 6.9 billion according to its order book statistics. Due to the Football World Cup and the traditional summer lull, trading volumes were down on the previous month's figures, as was expected. Growth came from investors' enthusiasm for bond trading at the Stuttgart Stock Exchange.
In comparison with the previous month, turnover grew by 8 percent to nearly EUR 1.9 billion. Of this, EUR 1.1 billion, the biggest proportion of stock exchange turnover, was accounted for by corporate bonds. With a market share of more than 70 percent in June, Boerse Stuttgart is the market leader for corporate bond trading.
Boerse Stuttgart had a trading volume of more than EUR 3.8 billion in trading with securitised derivatives in June. Of this, EUR 2.1 billion was accounted for trading in leverage products and almost EUR 1.7 billion for trading in investment products.
In June, turnover in investment fund trading amounted to EUR 480 million. At roughly EUR 410 million, passively managed funds accounted for the bulk of trading volume in the case of investment fund units. This corresponds to a year-on-year growth of more than 30 percent.
Source: Boerse Stuttgart
Xetra Turnover up 29 Percent in June
July 1, 2010-- In June, 111.4 billion euros were traded on Xetra and on the floor at Börse Frankfurt – an increase of 27 percent year-on-year (June 2009: 87.9 billion euros). Of the 111.4 billion euros, 105.5 billion euros were traded on Xetra, an increase of 29 percent year-on-year (June 2009: 81.7 billion euros). 5.9 billion euros were traded on the floor, a slight decrease by 5 percent (June 2009: 6.2 billion euros).
Turnover in German equities on Deutsche Börse’s cash markets amounted to 95.1 billion euros, while foreign equities turnover stood at 13.3 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. 91 percent of foreign equities traded on stock exchanges in Germany were traded on Xetra and on the floor in Frankfurt.
In June, 16 million transactions were executed on Xetra, an increase of 20 percent against the same period last year (June 2009: 13.3 million).
According to the Xetra liquidity measure (XLM), Deutsche Telekom AG was the most liquid DAX blue chip in June with 5.47 basis points (bp) for an order volume of 100,000 euros. EADS was the most liquid MDAX stock with 16.07 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 9.35 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.
Siemens AG was the DAX stock with the highest turnover on Xetra in June at 6.8 billion euros. HeidelbergCement AG was the top MDAX stock at 844.3 million euros, while KUKA AG led the SDAX stocks at 45.1 million euros and Aixtron AG headed the TecDAX at 824.3 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 122.5 billion euros were traded in June according to orderbook turnover statistics – an increase of 21 percent compared year-on-year (June 2009: 101.6 billion euros). This total includes 115.7 billion euros in equities, warrants and exchange-traded funds, as well as 6.9 billion euros in fixed-income securities.
Source: Deutsche Börse
Average Daily Volume of 10.9 Million Contracts at Eurex and ISE in June
Eurex monthly trading volume rose by 25 percent y-o-y
July 1, 2010--At the international derivatives markets of Eurex, an average daily volume of 10.9 million contracts was traded in June (June 2009: 10.7 million). Thereof, 8.3 million contracts (June 2009: 6.7 million) were traded at Eurex; another 2.6 million contracts (June 2009: 3.9 million) were traded at the International Securities Exchange (ISE). The increase of Eurex turnover of 25 percent y-o-y is due to the increasing use of exchange-traded and centrally cleared derivatives in the current market environment, which was driven by high volatility and the dividend season. In total, 241.1 million contracts were traded on both exchanges compared with 232.5 million contracts in June 2009.
At Eurex, the equity index derivatives segment was the most successful segment, totaling 79.3 million contracts, compared with 71.1 million contracts in June 2009. Futures on the EURO STOXX 50 reached 41.1 million contracts (June 2009: 32.0 million); the options recorded another 24.2 million contracts (June 2009: 25.5 million). The DAX future reached a turnover of 4.0 million contracts while the DAX option achieved 6.3 million contracts.
In the Eurex segment of equity-based derivatives (equity options and single stock futures) 50.5 million contracts were traded (June 2009: 30.2 million). Thereof, equity options totaled at 24.7 million contracts (June 2009: 23.2 million). The dividend season led to a strong increase of incentivized block trades of single stock futures, which totaled 25.8 million contracts (June 2009: 7.1 million).
Eurex’s interest rate derivatives segment reached 52.9 million contracts, compared with 44.9 million in June 2009. Approximately 21.7 million contracts were traded in the Euro-Bund-Future, 13.7 million contracts in the Euro-Schatz Future, 12.5 million contracts in the Euro-Bobl-Future and almost 154.000 contracts in the Euro-BTP-Future.
Dividend derivatives traded more than 315,000 contracts, while the volatility derivatives recorded almost 74,000 contracts for both VSTOXX futures and options. Commodities derivatives totaled at 75,000 contracts.
Eurex Repo, which operates CHF- and EUR repo markets, grew by 10 percent and both repo markets hit a new overall record with an average outstanding volume of 228.4 billion euros (June 2009: 208.1 billion euros). The secured money market segment GC Pooling achieved the strongest growth with 29 percent and set a new monthly record with an average outstanding volume of 98.8 billion euros (June 2009: 76.9 billion euros). On 21 June, GC Pooling also achieved a record daily average outstanding volume of 108.5 billion euros.
The electronic trading platform Eurex Bonds, which rounds out Eurex’s fixed-income product range, saw a volume of 7.9 billion euros (single counting) in June. In May 2010, the figure was 8.76 billion euros, and in June 2009 volume was 12.1 billion euros.
Source: Eurex
ECX Monthly Report June 2010
July 1, 2010--2010 ECX volumes passed the 3 billion tonne mark in June. 585,296 contracts were traded during the month, at an average of 26,604 per day.
The gradual migration of EUA and CER futures business from OTC cleared to screen-based continued over the first half of 2010. Over 65% of EUA futures were executed on the screen during this time, compared to 41.5% during the first half of last year.
ECX Daily Futures remained very actively traded in June, with over a million tonnes traded on average every day: the percentage of the total carbon spot market during the month reached 45%.
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Source: ECX
Deutsche Börse algo news feed now available in three data centers in London
July 1, 2010--The algo news feed AlphaFlash of Deutsche Börse – Market Data & Analytics will be available in three London data centers starting 15 July 2010. This raises the total number of data centers which provide direct access to this data feed to seven worldwide. AlphaFlash, a joint product of Deutsche Börse and the financial news agencies Need to Know News and Market News International, both entities of Deutsche Börse, delivers more than 150 machine readable macroeconomic indicators directly into trading algorithms.
By adding three new centers in London, a key market for algo traders, Deutsche Börse is responding to customer demand for an expansion of the proximity hosting infrastructure in Europe.
"The new offering of different data centers on location provides algo traders direct and ultra-fast access to AlphaFlash data in order to trade on London markets. We are making it as easy as possible for firms to use our algo news feed”, said Georg Gross, Head of Front Office Data & Analytics at Deutsche Börse.
AlphaFlash clients in London can choose among three providers. Telehouse London Metro, which is already being used by Deutsche Börse for its low latency market data feeds, allows clients to add AlphaFlash via existing connections. City Lifeline, an independent London provider, offers access to Deutsche Börse's existing network as well as proximity to London data sources and metro-area market centers. The Equinix data center LD4 International Business ExchangeTM in West London was chosen because of existing demand from clients who are already using Equinix services.
In addition co-location and proximity hosting options for AlphaFlash are available in Chicago, New Jersey, Washington and Frankfurt. Further data centers, particularly in Asia, are being planned.
For more information about AlphaFlash, please visit: www.deutsche-boerse.com/alphaflash.
Source: Deutsche Börse
Investors seek clarity on euro rescue fund
July 1, 2010--Two months after European leaders unveiled a “shock and awe” €750bn rescue package to restore confidence in the eurozone, quite how their plan will work remains far from certain.
Nervous investors are demanding clarity, warning that the crisis for the single currency area could worsen.
At the heart of the plan to underpin the finances of indebted eurozone nations is the European Financial Stability Facility, a special purpose vehicle with €440bn of loans at its disposal for troubled countries.
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Source: FT.com
Publication of the Finance Bill 2010
July 1, 2010--The Government is today publishing the 2010 Finance Bill. The Bill will enact the key tax measures at the heart of the Emergency Budget package, to cut the unprecedented deficit, deliver fairness and promote enterprise.
In addition to this Finance Bill, which will quickly enact the Government’s priorities, there will be a further bill in the autumn. This will introduce minor, technical measures announced by the previous Government and will be published in draft later this month, to allow thorough pre-legislative scrutiny.
The Exchequer Secretary David Gauke MP said:
“The Government’s inheritance was one of debt and unsustainable spending. We are taking the decisive action needed to pay for the past and plan for the future. That is why today we are legislating the key measures at the heart of our comprehensive five-year plan to put the British economy back on track.
"We have made the tough choices needed to get our borrowing down, but we will do it in a way that is fair, protects the vulnerable and supports businesses across Britain.”
view Finance Bill 2010-11
Source: HM Treasury
NYSE Euronext and Markit to enhance post-MiFID market transparency
July 1, 2010--NYSE Technologies, the commercial technology unit of NYSE Euronext and Markit, the financial information services company, have announced the launch of a joint initiative designed to consolidate data and enhance transparency in the European over the counter (OTC) equity markets.
As part of this initiative, NYSE Technologies will integrate data from Markit BOAT, within its own range of market data products. This will give joint users access to trade reports on an average of roughly EUR 30 billion of OTC trades in equities every day which is equivalent to approximately 80% of the daily volumes traded on all European equity markets through April 2010.
The initiative is open to other publication venues in Europe in order to give market participants access to the most comprehensive dataset on the European OTC equity markets from a single source.
"By working with Markit, we will offer our diverse client base and vendor community a consolidated OTC trade data product that provides enhanced levels of transparency, broad market coverage and simplifies data distribution," said Mark Schaedel, Senior Vice President, Global Data Products, NYSE Technologies. "We are very excited to be working toward a seamless, market-wide OTC data solution with Markit that improves the quality of market data across Europe's cash equity markets."
"Data consolidation within the European equity markets can be made possible if all publication venues work together to harmonise their datasets. It is in that spirit that we are launching this initiative with NYSE Euronext," said Niall Cameron, Executive Vice President, Markit. "This is a wide-ranging and ambitious project that we hope will attract a number of other publication venues across Europe."
The new service will include deployed data feeds, hosted and managed solutions, web services and historical products. NYSE Technologies will also integrate data from Markit BOAT and other data providers into packaged solutions which provide customers with a single view of activity across all major European cash equity markets.
NYSE Euronext customers, including investors connecting directly and data vendors, can access OTC feeds from Markit, NYSE Euronext or both post trade products in a consolidated format via NYSE Technologies' Secure Financial Transaction InfrastructureTM (SFTI) network. The feeds will also be available in NYSE Euronext's data centres and via an NYSE Technologies web services platform to be launched later this year. Both parties remain committed to working with CESR, the European Commission and their respective data contributors and consumers to ensure that these offers support all future MiFID requirements.
Source: Data News
DTCC To Establish European-Based Trade Reporting Repository - Effort To Ensure Regulators Unfettered Access To Global CDS Data
July 1, 2010--The Depository Trust & Clearing Corporation (DTCC) announced today plans to establish a new subsidiary called DTCC Derivatives Repository Ltd., which will maintain global credit default swap data identical to that maintained in its New York based Trade Information Warehouse.
This move is intended to help ensure that regulators globally have secure and unfettered access to global data on credit default swaps (CDS) by establishing identical CDS data sets on two different continents.
“DTCC has always envisaged a ‘global solution’ for repository services supporting each OTC asset class,” said Stewart Macbeth, Managing Director and General Manager, Trade Information Warehouse. “It is very common for counterparties to be located on different continents and to trade on underlying securities issued across borders. This means that repositories for any asset class need to maintain global information to be useful. It also means that steps need to be taken to ensure that the data is always available to regulators globally regardless of events and circumstances taking place in one location or another.”
DTCC Derivatives Repository Ltd will be headquartered in London under a regulatory application filed with the Financial Services Authority (FSA) in the UK.
This new subsidiary will jointly house the global equity derivatives repository being built by DTCC as the result of winning the International Swaps and Derivatives Association (ISDA®) global bid for this service. The location of this European subsidiary was made based on the ISDA mandate to have the global equity derivatives repository in London.
This European-based repository will support a wide variety of critical functions, including operational, customer, technical, and most importantly, CDS trade reporting needed to ensure greater public transparency and to support the information needs of regulators and supervisory authorities.
DTCC’s current customer base in the credit derivatives market includes all major derivatives dealers and more than 1,700 buy-side firms and other market participants located in more than 50 countries and supporting reference entities in 90 countries. The total gross notional value of the approximately 2.3 million CDS contracts held by DTCC is $25.1 trillion.
Source: DTCC
UKSIF calls for transparency on ESG investments
July 1, 2010--Pension funds should disclose how their responsible investment schemes are being implemented, according to UKSIF.
In a report published to coincide with the 10-year anniversary of environmental, social and corporate governance (ESG) regulation in the UK, the organisation also predicted web-based disclosure for responsible investments by pension funds would become commonplace.
Penny Shepherd, chief executive at UKSIF, said: "We are fast approaching a tipping point when responsible investment will become the norm for major investors worldwide.
She added that this could only be achieved with the help of governments and asset owners.
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Source: IP&E
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