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CESR updates the list of measures recently taken by Members regarding short-selling.
July 5, 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 Hellenic Capital Markets Commission.
View the Measures adopted by CESR Members on short selling- Updated -
Source: CESR
Eurozone purchasing index slows for second month: survey
July 5, 2010--A key leading indicator of growth in the eurozone slowed for the second month in a row in June amid weaker exports, waning domestic demand and a slowdown in orders, a reference survey showed on Monday.
The purchasing managers' index (PMI) compiled by data and research group Markit fell to 56.0 in June, confirming an earlier estimate, down slightly from May and the post-recession peak of 57.3 in April.
Any score above the 50-point line indicates economic growth. The index has been above that threshhold for 11 consecutive months now.
"The Eurozone PMI data indicate that growth in the region is likely to have peaked and the risks have increased of a further easing in coming months," said Markit chief economist Chris Williamson.
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Source: EUbusiness
Supervisory board reshuffle for Stuttgart Stock Exchange
Dr Michael Völter and Dr Manfred Pumbo elected as new members.
Holger P. Härter resigns as Supervisory Board Chairperson.
July 5, 2010--Dr Michael Völter, Member of the Management Board of SV Sparkassen Versicherung Holding AG, and Dr Manfred Pumbo, Head of Group Controlling at Wüstenrot & Württembergische AG, have been elected as new members of the Supervisory Board for the companies at the Stuttgart Stock Exchange. The elections of new members of the Supervisory Board of Boerse Stuttgart Holding GmbH, Boerse Stuttgart AG and of Euwax AG had become necessary after the death of Dr Jan Wittig and the resignation of Hans-Peter Bruker.
Furthermore, the previous Chairperson of the Supervisory Board of Boerse Stuttgart Holding GmbH, Boerse Stuttgart AG and Euwax AG, Holger P. Härter, has resigned with immediate effect. The reason for this are the guidelines for appointments to the Boards decided by the new Board of Trustees of the association Vereinigung Baden-Wuerttembergische Wertpapierboerse e.V. These guidelines provide that only persons who are professionally engaged in the service of one of the association’s members can be appointed to the Supervisory Board.
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Source: Boerse Stuttgart
Assets of Turkish banks increase 18 percent in May
July 2, 2010--The total size of Turkish banks’ assets had reached TL 879.31 billion as of the end of May, surging by 18 percent compared to one year earlier, a recent report has shown.
The Banking Regulation and Supervision Agency (BDDK) released its latest report on the Turkish financial sector on Friday, finding that the total assets of banks grew by TL 134.16 billion, or 18 percent, in the span of a year.
The BDDK report also revealed Turkish banks’ securities amounted to TL 277.27 billion as of May, climbing by 26.4 percent over the same month of last year.
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Source: Todays Zaman
CESR publishes guidelines for the use of the Key Investor Information Document
July 2, 2010--The guidelines published today concern the methodology for calculation of the ongoing charges figure in the KIID and the methodology for the calculation of the synthetic risk and reward indicator in the KIID.
view the methodology for calculation of the ongoing charges figure in the KIID
view the methodology for the calculation of the synthetic risk and reward indicator in the KIID
Source: CESR
EU to increase investor protection in EU investment fund market
July 2, 2010--The European Commission has today completed a programme of improvements to the EU framework for investment funds. The new rules better empower investors by requiring a new standardised fund document, while also setting out in detail the high standards of conduct of business that investment fund managers must comply with.
These funds known as UCITS (Undertakings for Collective Investment in Transferable Securities) accounted for over € 5 trillion of assets in 2009, which is equivalent to half of EU GDP. The new rules improve the efficiency of the UCITS market in the EU by introducing and facilitating new possibilities for the pooling of assets from different funds, by simplifying the cross-border distribution of UCITS and by better coordinating the work of national supervisors. The new rules are to take effect from 1 July 2011.
Internal Market and Services Commissioner Michel Barnier said: "Today's package will improve investor protection, cut red tape and further strengthen the global competitiveness of Europe's investment funds. Furthermore, the steps we have taken to enhance transparency and the effectiveness of our rules show that Europe has learned its lessons from the crisis. I hope the hard-won trust we have earned from investors will deepen in the future. With the framework now in place, the hard work of implementation for both supervisors and market participants begins."
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Source: EUbusiness
Financial transactions tax to happen... one day: Belgian PM
July 2, 2010-- The idea of a global tax on financial transactions has failed to gain traction around the world but it will become a reality in Europe "one day or another," the Belgium EU presidency said Friday.
Belgian Prime Minister Yves Leterme, whose country holds the rotating European Union presidency for the next six months, said governments were still "far from" agreeing on a tax.
"On the other hand, I think that within the European Council (of EU leaders) we have nevertheless made enormous progress," Leterme said.
"It is an idea which I think will take shape one day or another," he said.
European Commission President Jose Manuel Barroso said leaders meeting at the G20 summit of developed and emerging powers in Toronto last weekend showed "no enthusiasm" for a global tax on financial transactions.
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Source: EUbusiness
German pension funds focus on liquidity, poll says
July 1, 2010--Among German institutional investors, pension funds are the least concerned about security when making investment decisions, according to a poll commissioned by alternatives manager Aquila Capital.
In total, more than 60% of the 169 institutional investors surveyed said security was paramount when it came to their investments.
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Source: IP&E
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
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