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Turnover at Deutsche Borse's cash markets at 124.9 billion euros in January
February 3, 2014--Order book turnover on Xetra, the Frankfurt Stock Exchange and Tradegate stood at €124.9 billion in January (January 2013: €94.6 billion). Of the €124.9 billion,€112.9 billion were attributable to Xetra (January 2013: €85.5 billion).
€5.8 billion were attributable to the Frankfurt Stock Exchange (January 2013: €5.2 billion). Order book turnover on Tradegate Exchange* totalled approximately €6.2 billion in January (January 2013: €3.9 billion).
In equities,turnover reached €108.2 billion on Deutsche Börse's cash markets (Xetra: €99.7 billion, Frankfurt Stock Exchange: €2.9 billion,Tradegate Exchange: €5.7 billion). Turnover in bonds was €1.1 billion,and in structured products €1.8 billion. Order book turnover in ETFs/ETCs/ETNs amounted to €13.6 billion.
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Source: Deutsche Börse
Bay Markets Speed Dating by Candlelight -The Growth of Twilight Pools
February 3, 2014--With today's fragmented markets, firms are faced with an increasingly wide choice of trading venues on which they can execute their business. The majority of these fall into one of two categories; either lit markets or so-called dark pools of liquidity.
However, there is a third way. An increasing number of market operators are now starting to adopt a "twilight pool" approach, where the level of opacity is controlled to match pre-defined conditions.
A twilight pool is a liquidity venue that is essentially dark, but which illuminates certain elements of information regarding market activity for periods at certain times of day or under specific circumstances, generally for the purpose of attracting more liquidity at those times and matching buyers and sellers. Think of it as speed dating for market participants, but only under semi-lit conditions.
In practice, this can be via colour coding on a trading screen for example, with heat maps showing the best bids and offers for short period of time before hiding them again. These heat maps can show levels of activity in the market, without necessarily giving too much information away, such as any indication of size or depth on the bid or offer. All of this information can also be provided-during the “speed dating” periods - through the venue’s trading API, allowing the data to be picked up by smart order routers, for example.
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Source: Peter Fredriksson of Bay Markets
Merkel Coalition Signals Retreat on Broad Financial-Market Tax
February 3, 2014---German Chancellor Angela Merkel's coalition is ready to accept a levy on stock trades as part of a first step toward a European tax on all financial transactions amid resistance to a broader application.
The retreat, signaled by lawmakers from the two governing parties, may advance Germany’s goal of teaming up with France to enlist Italy and Spain to enact the tax in the four biggest euro-area economies. French Finance Minister Pierre Moscovici, whose country started taxing share transactions last year, said on Jan. 27 that broader fees risk driving investors away.
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Source: Bloomberg
Asset managers and consultants clash on generic advice regulation
February 3, 2014--Asset managers have thrown down the gauntlet to investment consultants by saying publicly that the generic advice they give to clients should be regulated.
The demand is contained in the Investment Management Association's response to an inquiry into fiduciary duties by the Law Commission.
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Source: Financial News
S&P Dow Jones Indices' Market Attributes: Index Dashboard Europe
January 31, 2014--This month's highlight's include:
The Europe 350(R) posted a loss of 1.7% over the month, weathering a sell-off of emerging market currencies better than the other developed markets, particularly the U.S.
Positive returns were to be found in the recovering markets of Italy, Portugal and Ireland; the U.K. market- despite posting GDP growth better than at any point since 2007-fell along with Germany and France.
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Source: S&P Dow Jones Indices
FCA PS14/1: Distribution of retail investments: referrals to discretionary investment managers and adviser complaints reporting
January 31, 2014--view rules
Source: FCA.org.uk
Trading : ETFs in Europe : Roger Aitken
January 31, 2014--CROWDED HOUSE.
Europe's exchange-traded fund (ETF) landscape has certainly become more crowded following BATS Chi-X Europe's launch of a new pan-European platform late last year.
Can the market stomach another and what's the prognosis for 2014? Roger Aitken reports.
Opaque and illiquid. That's how some have described the European ETF market. However, things are changing and there are high hopes for 2014. The evolution though is likely to differ from the US where it all began in 1993 largely for the retail segment.
view more Economic Sentiment continues to improve in the euro area and the EU
The EU's ESI indicator showed confidence notably on the rise in major economies Germany (0.7 points), where confidence was at its highest since August 2011, and in France (1.1 points), the highest since April 2012. view more
Lira on the skids as PM's comments fuel volatility view more Spain welcomes SPDR ETF view more If you are looking for a particuliar article and can not find it, please feel free to contact us
Source: Bestexecution.net
January 30, 2014-In January the Economic Sentiment Indicator (ESI) increased by 0.5 points in the euro area (to 100.9) and by 0.9 points in the EU (to 104.7). While the upward trend observed since May 2013 has been continued, the magnitude and sectoral scope of the improvement in confidence has moderated somewhat.
Confidence in the 18-nation area stood at 100.9 points against 100.4 in December, the EU executive said.
Source: European Commission
January 30, 2014--Turkey's central bank's massive interest rate hike has done nothing to contain the lira's slide and statements from top government figures are fueling market uncertainty, damaging investor confidence.
The lira was trading at 2.27 against the US dollar on Thursday, well above Wednesday morning's rate of 2.16 after the central bank hiked interest rates to defend the embattled currency.It is feared that the big emergency interest rate hike, prompted by a continuous dive in the lira, will dent Turkey's economic growth.Given current market conditions, politicians should take extreme care not to make comments that could exacerbate ongoing volatility, observers are saying.
Source: Todays Zaman
January 29, 2014--Access to exchange-traded funds (ETFs) in Spain has increased with the registration of 41 SPDR products.
SPDR is the ETF range from State Street Global Advisors (SSGA) and the well-known SPDR S&P US Dividend Aristocrats Ucits ETF is among the flagship funds now registered there.
Olivier Paquier,head of SPDR ETFs for France and Spain at SSGA, says:"We are seeing increasing demand from Spanish investors for ETFs and we believe the ETF industry in Spain offers exciting growth potential."
Source: Funds Europe
