euwax report February 2017

Size: px
Start display at page:

Download "euwax report February 2017"

Transcription

1 Dear Readers, After a promising start into the year 2017, the DAX could raise its game and break the 12,000- point mark in February again after a two-year break. The German market is thereby following the US leading index within a short time span, which is in turn rushing from one record high to another. The DAX received support from a very solid balance period and a relatively favorable Euro, that has lost a little more than 2.5 Cent against the US dollar in February. A study by JP Morgan caused a buoyant mood on the market as well, whereupon the DAX might benefit disproportionately from speculations on an economic boom Made by Trump. However, the new US president has not yet announced specific plans for his economic agenda. So, the share prices dropped again towards the end of the and investors were waiting eagerly for Trumps first speech to the congress. The ly performance of the DAX amounted to 1.7 percent. At the EUWAX, trading turnovers with securitized derivatives slightly decreased in this market environment. However, February only had 20 trading days towards 22 trading days in January. With approximately 238,400, a trading volume of over 2.2 billion Euro could be achieved in February. Although the turnover was thereby slightly below the level of January, an increase of more than three percent was achieved with regard to the trading days. The average client order was just below 9,300 Euro. A trading volume of about 1.2 billion Euro was thereby contributed by investment products. With a share of almost 50 percent, discount certificates accounted for almost half of the trading volume with investment products once again. Among others, the Morphosys share was in the focus, which has - according to analysts - left behind the weak year of 2016 and where a market letter has already detected buying signals. Among the popular index and participation certificates, one index certificate on Wikifolio received high attention. The sample account of the Social Trading Community shows the IREX (Intelligent Recommendations Index) and is supposed to use collective intelligence to identify long/short signals. The turnover with leverage products was clearly above one billion Euro again in February. The turnover with knock-out products was thereby showing a significant increase to over 620 million Euro with almost 128,000 (and thereby, determined by the number of trading days, slightly declining) anyhow. With over 67,000 orders, equity warrants and factor certificates contributed over 391 million Euro to the total turnover. With leverage products, investors especially concentrated on a breakout of the DAX. Following the recommendation of an investor letter, investors bought call warrants on the UnitedHealth Group, too. Experts seemed to be seeing a favorable initial investment opportunity after a price drop: The health insurer had initially forfeited significantly, after the US Ministry of Justice had brought an action for alleged false billings. Andreas Groß Table of contents TOTAL TRADING VOLUME 2 Overview of Euwax trading segment 2 TOP 10 MOST TRADED PRODUCTS 3 Warrants 3 Knock-out Products 3 Factor Certificates 3 Bonus Certificates 4 Discount Certificates 4 Tracker Certificates 4 OVERALL MARKET: ISSUERS 5 based on volume 5 based on number 6 PRODUCT GROUPS 7 Warrants 7 Knock-Out Products 9 Yield Enhancement Products 11 Bonus Certificates 13 Discount Certificates 15 Tracker Certificates 17 Reverse Convertibles 19 Capital Protection Products 20 Investment Products by Securities Type 22 ISSUER SALES RATIO 23 Investment Products 23 Leverage Products 23 Discount Certificates 24 Bonus Certificates 24 Tracker Certificates 25 Reverse Convertibles 25 EUWAX WHATS S NEW 26 New Products Launched 26 Products Reaching Final Maturity 27 Listed Products 28 Mistrades and complaints 29 ANNOUNCEMENTS AND STATUTORY WEBSITE DETAILS 30 You can go straight to the required page by clicking the heading in the contents list. 1

2 Total trading volume Overview of Euwax trading segment (as at February 2017) Number of leverage products without knock-out * February ,943 January ,725 Number of leverage products with knock-out 356, ,480 Number of yield enhancement 574, ,767 Number of capital protection Total Number of securitised derivatives 1,432,073 1,386,366 Number of EUWAX members Boerse Stuttgart market share of exchange trading in derivative leverage products Boerse Stuttgart market share of exchange trading in derivative investment products % 69.44% % 68.74% * Source: in-house analysis by the Stuttgart Exchange; count based on volume of for the period 1 to 28 February 2017 at the following exchanges: Stuttgart, Frankfurt Volume of by asset class (in EUR 000) With KO Without KO Investment products Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Number of by asset class With KO Without KO Investment products Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 2

3 Top 10 most traded products ( based on number of ) 1 Warrants ISIN Type Number Marketing name Underlying Commerzbank DE000CD74L19 Call 281 Call/150/ UnitedHealth Group Morgan Stanley DE000MF04N83 Call 246 Call/9/ Commerzbank AG Deutsche Bank DE000DT5L7S7 Call 223 Call/12.000/ DAX Morgan Stanley DE000MF1N8M0 Call 213 Call/144/ Apple Inc. Citi DE000CW1W565 Call 210 Call/12.000/ DAX HSBC Trinkaus DE000TD7HUR5 Call 183 Call/55/ Nike BNP Paribas DE000PB13QG7 Call 180 Call/155/ Allianz SE Citi DE000CW1KHR5 Call 179 Call/125/ Apple Inc. Citi DE000CW2WKA8 Call 166 Call/135/ Netflix BNP Paribas DE000PB5VFN6 Put 154 Put/12.300/ DAX Knock-out Products ISIN Type Number Marketing name Underlying Morgan Stanley DE000MF1KQ55 Call 403 Turbo Zertifikat DAX Morgan Stanley DE000MF1A6J5 Call 395 Mini Future Best of Gold Miners Index Société Générale DE000SE3RNX6 Call 383 Unlimited Turbo Zertifikat RBOB Benzin Future 03/2017 Citi DE000CC9RYB6 Put 353 Unlimited Turbo Zertifikat DAX Citi DE000CX9QF82 Call 321 Unlimited Turbo Zertifikat DAX BNP Paribas DE000PR169M1 Call 310 Unlimited Turbo Zertifikat DAX Commerzbank DE000CE7DCP4 Put 225 Turbo Zertifikat DAX BNP Paribas DE000PR2RRK4 Call 216 Turbo Zertifikat DAX/XDAX Citi DE000CG898M3 Put 204 Unlimited Turbo Zertifikat DAX HSBC Trinkaus DE000TD7DPL7 Call 181 Unlimited Turbo Zertifikat EUR/USD Factor Certificates ISIN Type Number Marketing name Underlying Deutsche Bank DE000DX8DAX6 Call 361 Unlimited Faktor Index-Zert. LevDAX x8 TR Index Vontobel DE000VS66JU3 Call 237 Unlimited Faktor Index-Zert. 15X Long Index linked to DAX Vontobel DE000VS419H1 Call 230 Unlimited Faktor Index-Zert. 8X Long Index linked to DAX Vontobel DE000VN51785 Call 226 Unlimited Faktor Index-Zert. 12X Short to Brent Crude Oil Deutsche Bank DE000DX8S152 Call 210 Unlimited Faktor Index-Zert. Euro Bund Short Index Faktor 15 Vontobel DE000VS71ZC7 Call 192 Unlimited Faktor Index-Zert. 10X Long Index linked to DAX Vontobel DE000VN57EQ2 Call 182 Unlimited Faktor Index-Zert. 15X Short Index linked to DAX Deutsche Bank DE000DX6XAG3 Call 176 Unlimited Faktor Index-Zert. Silber Long Index Faktor 6 Vontobel DE000VS92AW4 Call 175 Unlimited Faktor Index-Zert. 12X Long Index linked to Gold Vontobel DE000VS92A85 Call 168 Unlimited Faktor Index-Zert. 15X Long Index linked to DAX 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

4 Top 10 most traded products ( based on number of ) 1 Bonus Certificates ISIN Type Number Marketing name Underlying HVB/UniCredit DE000HU5WB46 Put 115 Capped Bonus-Zertifikat DAX BNP Paribas DE000PB6HVC3 Call 114 Capped Bonus-Zertifikat Brent Crude Oil Future 12/2017 DZ Bank DE000DGK5BF1 Call 85 Capped Bonus-Zertifikat Daimler AG Deutsche Bank DE000DL7H201 Put 73 Reverse Capped Bonus Zert. DAX Commerzbank DE000CD0EYZ1 Put 65 Reverse Bonus Zert. DAX BNP Paribas DE000PB85C30 Put 62 Capped Bonus-Zertifikat DAX BNP Paribas DE000PR2CD99 Call 52 Capped Bonus-Zertifikat Volkswagen AG Vz. BNP Paribas DE000PB5ZQX3 Put 49 Reverse Capped Bonus Zert. DAX HVB/UniCredit DE000HU4N185 Put 42 Reverse Capped Bonus Zert. DAX HVB/UniCredit DE000HU5WB38 Put 42 Reverse Capped Bonus Zert. DAX Discount Certificates ISIN Type Number Marketing name Underlying Deutsche Bank DE000DL4A2R1 Call 488 Discountzertifikat MorphoSys AG Deutsche Bank DE000DL47W84 Call 484 Discountzertifikat OSRAM Licht AG Commerzbank DE000CE6X7J5 Call 408 Discountzertifikat EURO STOXX 50 Deutsche Bank DE000DT0NSM3 Call 392 Discountzertifikat EURO STOXX 50 Deutsche Bank DE000DL3W563 Call 296 Discountzertifikat Airbus Group SE Deutsche Bank DE000XM98VR6 Call 275 Discountzertifikat Continental Deutsche Bank DE000XM98WN3 Call 274 Discountzertifikat Daimler AG Deutsche Bank DE000DL4A7W0 Call 269 Discountzertifikat Ströer SE & Co. KGaA Deutsche Bank DE000DL4A4F2 Call 178 Discountzertifikat OSRAM Licht AG Deutsche Bank DE000DL0DSM2 Call 155 Discountzertifikat EURO STOXX 50 Tracker Certificates ISIN Type Number Marketing name Underlying Lang & Schwarz DE000LS9JBB2 Call 418 Opend End Zertifikat LUS Wikifolio-Index IREX Deutsche Bank DE000DT0BAC7 Call 398 Index Zertifikat boerse.de-champions-defensiv Lang & Schwarz DE000LS9AJF5 Call 378 Index Zertifikat LUS Wikifolio-Index Qualität Lang & Schwarz DE000LS9JK44 Call 244 Opend End Zertifikat LUS Wikifolio-Index Rohstoff Deutsche Bank DE Call 221 Index Zertifikat DAX Vontobel DE000VN5MJG9 Call 213 Index Zertifikat XBT/USD Commerzbank DE Call 155 Index Zertifikat Private Equity Beteiligungen Lang & Schwarz DE000LS9AVD5 Call 144 Index Zertifikat Wikifolio-Index DACH-Trading BNP Paribas NL Call 132 Opend End Zertifikat Brent Crude Oil Future 05/2017 Deutsche Bank DE000DB2BRE3 Call 120 Open-End X-Pert Zertifikat Brent Crude Oil Future 05/ Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

5 Overall market: s 1 ( based on volume of ) Volume of Previous Deutsche Bank 19.28% 425, , Commerzbank 12.64% 279, , Citi 10.53% 232, , BNP Paribas 10.05% 221, , DZ Bank 9.72% 214, , Vontobel 8.73% 192, , HSBC Trinkaus 8.08% 178, , Société Générale 5.18% 114, , UBS 4.06% 89, , HVB/UniCredit 3.95% 87, , Goldman Sachs 2.65% 58, , LBBW 2.29% 50, , Lang & Schwarz 1.62% 35, , Morgan Stanley 0.78% 17, , Raiff. Centrobank 0.26% 5, , Erste Group Bank 0.07% 1, , Bank of America Merrill Lynch 0.07% 1, RBS 0.03% JPMorgan 0.01% Total % 2,208, ,489, Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

6 Overall market: s 1 ( based on number of ) Number of Previous Commerzbank 17.00% 40, ,221 1 Deutsche Bank 16.00% 38, ,636 2 Citi 11.72% 27, ,110 3 Vontobel 9.30% 22, ,540 4 DZ Bank 8.48% 20, ,283 5 BNP Paribas 8.42% 20, ,050 6 HSBC Trinkaus 5.92% 14, ,214 7 Société Générale 5.10% 12, ,020 9 HVB/UniCredit 4.69% 11, ,710 8 UBS 4.60% 10, , Lang & Schwarz 3.31% 7, , Goldman Sachs 2.22% 5, , Morgan Stanley 1.72% 4, , LBBW 1.14% 2, , Raiff. Centrobank 0.23% Erste Group Bank 0.09% Bank of America Merrill Lynch 0.05% RBS 0.01% JPMorgan 0.00% Total % 238, ,424 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

7 Product groups Market : Warrants 1 ( based on volume of ) Volume of Previous Deutsche Bank 17.55% 47, , Commerzbank 14.24% 38, , Société Générale 11.57% 31, , Citi 10.52% 28, , DZ Bank 10.22% 27, , BNP Paribas 7.91% 21, , HVB/UniCredit 6.35% 17, , Vontobel 6.33% 17, , UBS 5.90% 15, , Goldman Sachs 4.40% 11, , HSBC Trinkaus 4.14% 11, , Morgan Stanley 0.50% 1, , Raiff. Centrobank 0.31% Lang & Schwarz 0.07% Erste Group Bank 0.00% Total % 269, , Relative volume of by underlying s 50.96% Indices 43.21% Commodities 3.37% Currencies 2.26% Others 0.14% Interest 0.07% 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

8 Market : Warrants 1 ( based on number of ) Number of Previous Commerzbank 17.30% 8, ,041 1 Deutsche Bank 15.99% 8, ,654 2 Citi 13.98% 7, ,509 3 DZ Bank 8.91% 4, ,935 4 BNP Paribas 7.99% 4, ,197 5 Vontobel 7.45% 3, ,010 6 Société Générale 6.64% 3, ,228 8 HVB/UniCredit 5.74% 2, ,961 7 UBS 5.19% 2, , HSBC Trinkaus 4.97% 2, ,200 9 Goldman Sachs 4.17% 2, , Morgan Stanley 1.08% Raiff. Centrobank 0.41% Lang & Schwarz 0.17% Erste Group Bank 0.00% Total % 51,112 52,523 Relative number of by underlying Stocks 62.62% Indices 30.70% Commodities 4.16% Currencies 2.28% Interest 0.14% Others 0.12% 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

9 Market : Knock-Out Products 1 ( based on volume of ) Volume of Previous Deutsche Bank 17.16% 106, , Citi 16.90% 104, , Commerzbank 15.03% 93, , BNP Paribas 12.17% 75, , DZ Bank 7.74% 48, , Vontobel 6.99% 43, , HSBC Trinkaus 6.13% 38, , UBS 5.13% 31, , Société Générale 4.60% 28, , HVB/UniCredit 2.94% 18, , Lang & Schwarz 1.90% 11, , Morgan Stanley 1.81% 11, , Goldman Sachs 1.41% 8, , Erste Group Bank 0.07% Raiff. Centrobank 0.05% Total % 620, , Relative volume of by underlying Indices 56.98% Stocks 26.57% Commodities 10.78% Currencies 3.61% Interest 1.99% Others 0.08% 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

10 Market : Knock-Out Products 1 ( based on number of ) Number of Previous Commerzbank 17.56% 22, ,445 1 Citi 14.93% 19, ,873 3 Deutsche Bank 13.68% 17, ,333 2 BNP Paribas 9.72% 12, ,891 4 DZ Bank 8.72% 11, ,242 5 Vontobel 6.84% 8, ,264 6 HSBC Trinkaus 5.77% 7, ,141 8 Société Générale 5.76% 7, ,872 9 UBS 5.41% 6, ,407 7 HVB/UniCredit 4.65% 5, , Lang & Schwarz 2.93% 3, , Morgan Stanley 2.13% 2, , Goldman Sachs 1.76% 2, , Erste Group Bank 0.10% Raiff. Centrobank 0.05% Total % 127, ,145 Relative number of by underlying Indices 47.63% Stocks 32.01% Commodities 12.82% Currencies 4.96% Interest 2.53% Others 0.05% 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

11 Market : Yield Enhancement Products 1 ( based on volume of ) Volume of Previous Deutsche Bank 20.32% 241, , DZ Bank 11.42% 135, , BNP Paribas 10.55% 125, , HSBC Trinkaus 10.23% 121, , Commerzbank 9.23% 109, , Citi 8.30% 98, , Vontobel 7.77% 92, , Société Générale 4.56% 54, , HVB/UniCredit 4.31% 51, , LBBW 4.15% 49, , UBS 3.34% 39, , Goldman Sachs 3.20% 37, , Lang & Schwarz 2.01% 23, , Raiff. Centrobank 0.38% 4, , Bank of America Merrill Lynch 0.13% 1, Erste Group Bank 0.09% 1, RBS 0.02% JPMorgan 0.01% Morgan Stanley 0.00% Total % 1,186, ,429, Relative volume of by underlying Stocks 56.50% Indices 40.43% Commodities 2.35% Interest 0.41% Others 0.17% Currencies 0.11% Funds 0.03% 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

12 Market : Yield Enhancement Products 1 ( based on number of ) Number of Previous Deutsche Bank 24.59% 10, ,341 1 DZ Bank 9.76% 4, ,741 2 Lang & Schwarz 9.46% 4, ,481 3 BNP Paribas 8.31% 3, ,962 4 Commerzbank 8.23% 3, ,650 7 HSBC Trinkaus 7.55% 3, ,861 5 Vontobel 7.26% 3, ,777 6 LBBW 6.21% 2, ,211 8 HVB/UniCredit 5.15% 2, ,826 9 Citi 3.86% 1, , UBS 3.25% 1, , Société Générale 3.15% 1, , Goldman Sachs 2.15% , Raiff. Centrobank 0.58% Bank of America Merrill Lynch 0.26% Erste Group Bank 0.20% RBS 0.03% JPMorgan 0.01% Morgan Stanley 0.00% Total % 42,831 51,546 Relative number of by underlying Stocks 56.94% Indices 38.66% Commodities 3.14% Interest 0.54% Currencies 0.51% Others 0.18% Funds 0.04% 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

13 Market : Bonus Certificates 1 ( based on volume of ) Volume of Previous BNP Paribas 15.30% 50, , Citi 14.63% 48, , Deutsche Bank 12.63% 41, , HVB/UniCredit 8.69% 28, , HSBC Trinkaus 8.05% 26, , DZ Bank 7.94% 26, , Commerzbank 7.31% 24, , Goldman Sachs 6.70% 22, , Vontobel 6.51% 21, , UBS 4.97% 16, , Société Générale 4.70% 15, , LBBW 1.93% 6, , Raiff. Centrobank 0.63% 2, , Erste Group Bank 0.01% Total % 330, , Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

14 Market : Bonus Certificates 1 ( based on number of ) Number of Previous BNP Paribas 15.23% 1, ,319 3 Deutsche Bank 11.69% 1, ,358 2 HVB/UniCredit 10.76% ,443 1 DZ Bank 9.73% Citi 9.72% HSBC Trinkaus 9.18% ,121 4 Commerzbank 8.66% Vontobel 7.16% Goldman Sachs 5.41% UBS 5.07% Société Générale 3.58% LBBW 3.12% Raiff. Centrobank 0.65% Erste Group Bank 0.03% Total % 9,179 10,504 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

15 Market : Discount Certificates 1 ( based on volume of ) Volume of Previous Deutsche Bank 24.33% 140, , HSBC Trinkaus 13.60% 78, , DZ Bank 13.44% 77, , Commerzbank 11.79% 67, , Citi 8.72% 50, , BNP Paribas 8.46% 48, , Vontobel 7.97% 45, , Société Générale 4.86% 27, , UBS 2.02% 11, , HVB/UniCredit 2.01% 11, , Goldman Sachs 1.76% 10, , LBBW 0.82% 4, , Raiff. Centrobank 0.22% 1, Total % 575, , Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

16 Market : Discount Certificates 1 ( based on number of ) Number of Previous Deutsche Bank 42.04% 6, ,207 1 HSBC Trinkaus 11.26% 1, ,959 3 DZ Bank 11.15% 1, ,671 2 Commerzbank 10.67% 1, ,385 4 Vontobel 6.40% ,225 5 Citi 4.98% BNP Paribas 4.48% Société Générale 2.58% HVB/UniCredit 2.50% LBBW 1.61% UBS 1.56% Goldman Sachs 0.60% Raiff. Centrobank 0.16% Total % 15,216 18,958 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

17 Market : Tracker Certificates 1 ( based on volume of ) Volume of Previous Deutsche Bank 29.75% 30, , Lang & Schwarz 22.94% 23, , Commerzbank 8.44% 8, , BNP Paribas 8.00% 8, , DZ Bank 6.96% 7, , HVB/UniCredit 4.39% 4, , Société Générale 3.83% 3, , UBS 3.83% 3, , Vontobel 2.84% 2, , LBBW 2.70% 2, , HSBC Trinkaus 2.05% 2, , Goldman Sachs 1.49% 1, , Bank of America Merrill Lynch 1.47% 1, Raiff. Centrobank 0.80% , Erste Group Bank 0.31% RBS 0.19% Citi 0.01% Total % 103, , Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

18 Market : Tracker Certificates 1 ( based on number of ) Number of Previous Lang & Schwarz 42.44% 4, ,481 1 Deutsche Bank 16.99% 1, ,227 2 BNP Paribas 7.86% Commerzbank 6.79% HVB/UniCredit 5.26% UBS 4.26% Vontobel 3.85% DZ Bank 3.44% Société Générale 2.64% LBBW 1.81% Raiff. Centrobank 1.35% Bank of America Merrill Lynch 1.17% Goldman Sachs 0.92% HSBC Trinkaus 0.57% Erste Group Bank 0.51% RBS 0.12% Citi 0.02% Total % 9,544 11,220 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

19 Market s: Reverse Convertibles 1 ( based on volume of ) Volume of Previous Vontobel 16.28% 19, , LBBW 15.55% 18, , BNP Paribas 14.84% 17, , DZ Bank 13.48% 16, , Deutsche Bank 13.16% 15, , HSBC Trinkaus 11.82% 14, , Commerzbank 5.16% 6, , HVB/UniCredit 3.41% 4, , Goldman Sachs 3.38% 4, , UBS 2.00% 2, , Société Générale 0.64% , Raiff. Centrobank 0.26% Erste Group Bank 0.02% Total % 119, , ( based on number of ) Number of Previous Vontobel 18.15% 1, ,309 2 LBBW 17.50% 1, ,363 1 BNP Paribas 12.65% DZ Bank 12.41% Deutsche Bank 12.05% HSBC Trinkaus 10.69% Commerzbank 5.94% Goldman Sachs 4.12% HVB/UniCredit 2.90% UBS 2.29% Société Générale 0.73% Raiff. Centrobank 0.54% Erste Group Bank 0.02% Total % 5,753 7,067 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

20 Market : Capital Protection Products 1 ( based on volume of ) Volume of Previous DZ Bank 25.50% 2, , UBS 23.87% 2, Deutsche Bank 15.90% 1, , LBBW 12.25% 1, , Morgan Stanley 7.81% RBS 5.19% HVB/UniCredit 4.74% Société Générale 4.01% Raiff. Centrobank 0.37% Commerzbank 0.19% Erste Group Bank 0.10% Goldman Sachs 0.06% Total % 9, , Relative volume of by underlying Indices 68.48% Stocks 16.90% Interest 10.54% Commodities 2.35% Funds 0.99% Others 0.75% 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

21 Market : Capital Protection Products 1 ( based on number of ) Number of Previous DZ Bank 41.78% Deutsche Bank 20.49% LBBW 15.90% HVB/UniCredit 6.20% RBS 5.12% Société Générale 4.31% Morgan Stanley 2.70% UBS 1.62% Commerzbank 0.81% Raiff. Centrobank 0.54% Erste Group Bank 0.27% Goldman Sachs 0.27% Total % Relative number of by underlying Indices 61.73% Stocks 28.57% Interest 4.85% Commodities 2.96% Funds 1.62% Others 0.27% 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

22 x AKT UELL euwax report February 2017 Market : Investment Products by Securities Type 1 ( based on volume of ) Volume of Previous Discount Certificates 48.08% 575, , Bonus Certificates 27.60% 330, , Reverse Certificates 9.95% 119, , Tracker Certificates 8.67% 103, , Express Certificates 4.16% 49, , Certificates with capital protection 0.70% 8, , Credit linked notes 0.41% 4, , Sprint Certificates 0.30% 3, , Structured bonds 0.12% 1, Total % 1,196,840 1,439,187 Market : Investment Products by Securities Type 1 ( based on number of ) Number of Previous Discount Certificates 35.22% 15, ,958 1 Tracker Certificates 22.09% 9, ,220 2 Bonus Certificates 21.25% 9, ,504 3 Reverse Certificates 13.32% 5, ,067 4 Express Certificates 6.54% 2, ,474 5 Certificates with capital protection 0.77% Credit linked notes 0.53% Sprint Certificates 0.19% Structured bonds 0.09% Total % 43,202 52,028 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

23 2016 CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW 8 euwax report February 2017 Sales Ratio Sales Ratio: Investment Products 1 (Based on number of ) Sales Ratio (Linear) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Sales Ratio: Leverage Products 1 (Based on number of ) Sales Ratio (Linear) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

24 2016 CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW 8 euwax report February 2017 Sales Ratio: Discount Certificates 1 (Based on number of ) Sales Ratio (Linear) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Sales Ratio: Bonus Certificates 1 (Based on number of ) Sales Ratior (Linear) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

25 2016 CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW CW 8 euwax report February 2017 Sales Ratio: Tracker Certificates 1 (Based on number of ) Sales Ratio (Linear) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Sales Ratio: Reverse Convertibles 1 (Based on number of ) Sales Ratio (Linear) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 1 Source: XITARO, in-house analysis by the Stuttgart Exchange (without issuers/market makers) as at February

26 Euwax what s new New Products Launched Number of new products launched in February 2017 Leverage products without knock-out Leverage products with knock-out Capital Protection products Yield enhancement products Total BNP Paribas 8,191 13,715-10,887 32,793 Citi 6,793 20,517-3,354 30,664 Commerzbank 7,342 11,857-6,927 26,126 Deutsche Bank 6,183 14, ,256 27,988 DZ Bank 5,508 6,756-5,011 17,275 Erste Group Bank Goldman Sachs 3,642 7,458-8,046 19,146 HSBC Trinkaus 1,289 3,692-2,738 7,719 HVB/UniCredit 4,734 4,553-5,054 14,341 Lang & Schwarz 44 1, ,755 LBBW Morgan Stanley 4,301 3, ,965 Raiff. Centrobank Société Générale 7,550 11, ,951 UBS 3,327 6,833-1,441 11,601 Vontobel 6,195 13,180-4,228 23,603 Total 65, , , ,858 26

27 Products Reaching Final Maturity Number of products reaching final maturity in February 2017 (including knocked-out products) Leverage products without knock-out Leverage products with knock-out Capital Protection products Yield enhancement products Total BNP Paribas 6,248 13,661-5,090 24,999 Citi 6,946 22,126-4,230 33,302 Commerzbank 3,225 11,584-5,672 20,481 Deutsche Bank 2,566 12,931-1,316 16,813 DZ Bank 3,133 6,355-4,372 13,860 Erste Group Bank Goldman Sachs 3,829 7,405-2,620 13,854 HSBC Trinkaus 195 3, ,494 HVB/UniCredit 2,519 3, ,543 10,223 JPMorgan Lang & Schwarz LBBW Morgan Stanley 2 3, ,430 Raiff. Centrobank Société Générale 5,644 11, ,412 UBS 2,208 7, ,455 18,418 Vontobel 2,111 10,502-3,352 15,965 Total 38, , , ,114 (as at February 2017) 27

28 Listed Products Number of listed products as at February 2017 of total February January 2017 Commerzbank 13.09% 187, ,835 1 Deutsche Bank 11.82% 169, ,347 3 Citi 11.17% 159, ,436 2 BNP Paribas 10.93% 156, ,572 4 DZ Bank 8.94% 127, ,488 6 Société Générale 8.85% 126, ,242 5 Vontobel 7.93% 113, ,877 7 Goldman Sachs 6.47% 92, , HVB/UniCredit 6.37% 91, ,417 9 UBS 6.19% 88, ,351 8 HSBC Trinkaus 4.83% 69, , Morgan Stanley 1.06% 15, , Lang & Schwarz 0.91% 12, , LBBW 0.73% 10, , Raiff. Centrobank 0.55% 7, , Erste Group Bank 0.16% 2, , JPMorgan 0.00% Bank of America Merrill Lynch 0.00% RBS 0.00% Nomura 0.00% Number of listed products as at 28 February 2017 (reporting date). 2 Number of listed products as at 31 January 2017 (reporting date) % 1,432,073 1,386,366 28

29 Mistrades and complaints Number of mistrade applications granted by the Trading Surveillance Office for securitised derivatives as a proportion of the total number of 1 as at February 2017 Goldman Sachs Vontobel Euwax AG Total mistrade applications granted (as a proportion of all orders) Trading participants that are not shown in this table did not submit any mistrade applications during the reporting period. Number of mistrade applications rejected by the Trading Surveillance Office for securitised derivatives as a proportion of the total number of 2 as at February 2017 Vontobel Total mistrade applications rejected (as a proportion of all orders) Trading participants that are not shown in this table did not submit any mistrade applications during the reporting period. Complaints ratio in February 2017 Complaints 3 Complaints (thereof authorised / warranted) % 0.000% 3 Total client complaints received as a proportion of all orders for trading in securitised derivatives over the period covered by the report. 4 Total complaints upheld (as a proportion of all orders for trading in securitised derivatives over the period covered by the report) and attributable to an error by the QLP. At Stuttgart Exchange, Euwax AG acts as the quality liquidity provider (QLP) for electronic trading in securitised derivatives. 29

30 Announcements and statutory website details Euwax announcements. Since 01. February.2016 the transaction fee is cancelled for securitised up to 1,100 euros. The transaction fee for securitised more than 1,100 euros is 0.95 plus 19% VAT. The fee cap is EUR plus 19% VAT. New issue subscriptions. Subscribing for new issues is straightforward. You can order new issues of structured investment products through the Stuttgart Exchange, the only trading platform that does not charge the usual transaction fee. Orders can be placed through any bank or savings bank. For a list of securities currently in the subscription phase, see: Live on n-tv. Follow the latest Euwax trends live in Teleboerse at hours (CET) on n-tv (every exchange trading day). The Stuttgart Exchange mobile app. The Stuttgart Exchange app gives you access to real-time prices for all the securities traded on our trading platform. Thanks to real-time limit monitoring, you can keep an eye on your securities even while you are out just like the professionals. You can set up push notifications that tell you when a predefined limit has been reached for the securities on your watch list. Download the app from: Notes on the ly report. Reporting. The report for the preceding is published at the beginning of the current. Contents. The report does not contain any valuations. It is based on statistical analysis and current news. The date provided includes Euwax indicators, the market shares of different issuers and exchanges, and a complaints ratio. Sales Ratio. The Sales Ratio is the ratio of buy orders to total orders (i.e. buy and sell orders). The figures quoted only include orders that were actually. Important note. It is intended that this ly report should be expanded in collaboration with issuers. Your comments and suggestions are welcome. The greatest possible care has been taken in the production of this report. All the information on which it is based comes from the Boerse Stuttgart Group or other publicly available sources that we believe to be trustworthy and reliable. Nevertheless, we cannot guarantee that it is accurate or that it does not contain errors. We cannot accept liability for any direct or indirect damage, including unrealized gains or profits, that June be caused as a result of or in connection with the information contained in the report. Source. Boerse Stuttgart Group. Contact. Friederike Heeß, Boerse Stuttgart GmbH, phone: +49 (0) , friederike.heess@boerse-stuttgart.de Market comments. Andreas Groß, Boerse Stuttgart GmbH, phone: +49 (0) , Solenne.peltier@boerse-stuttgart.de Statistical data. Data management, Boerse Stuttgart GmbH, phone: +49 (0) , Statistik@boerse-stuttgart.de 2017 Boerse Stuttgart GmbH, Euwax is a registered trademark of Baden-Wuerttembergische Wertpapierboerse GmbH. 30

euwax report July 2017

euwax report July 2017 Dear Readers, After the sharp correction towards the end of the, the DAX initially entered a consolidation formation in July. The German market barometer fluctuated between 12,300 and 12,500 points. Towards

More information

euwax report November 2016

euwax report November 2016 Dear Readers, After the distinctive cutting in the first half-year on the stock markets, which had been caused by the British referendum, financial markets experienced the next surprise on November 8th:

More information

euwax report December 2017

euwax report December 2017 Dear Readers, The much discussed year-end rally failed to appear in 2017. Even though the German stock market slightly rebelled in the middle of the reference, it did not climb above the range of 13,300

More information

euwax report April 2018

euwax report April 2018 Dear Readers, The investors nervousness that had predominated in February and March slightly subsided in April. After price corrections regarding technology stocks and further stress factors for the total

More information

euwax report December 2016

euwax report December 2016 Dear Readers, In December, the German stock market accomplished a significant rally. After an opening at 10,593 points, the German leading index DAX constantly rose by around 900 points in total in the

More information

euwax report October 2017

euwax report October 2017 Dear Readers, What an uphill struggle though with a happy ending: the DAX seemed to be nailed down to the mark of 13,000 points at the beginning of the. It did not really move in any direction. However,

More information

euwax report August 2015

euwax report August 2015 Dear Readers, In August, financial markets all over the world were shaken by China. The reason is the sorrow about the downturn in Chinese economy. Already since mid-june, the Chinese markets, which had

More information

euwax report April 2016

euwax report April 2016 Dear Readers, In April, stock markets were as changeable as the weather. During the first half of the, the German leading index DAX was able to achieve significant profits initially. On 21st April it reached

More information

euwax report 2016 Table of contents Solenne Peltier Dear Readers,

euwax report 2016 Table of contents Solenne Peltier Dear Readers, Dear Readers, The past year was a quite rough stock market year for investors, and was characterized by some strong price declines. Reasons were radical politic events such as the Brexit referendum in

More information

euwax report November 2017

euwax report November 2017 Dear Readers, November started with a drumbeat: the DAX climbed up to 13,525 points. However, a drumbeat is not a drum roll and is nowhere near a Safri Duo. Very soon the headlines were: breather, it ran

More information

euwax report November 2015

euwax report November 2015 Dear Readers, During November, the upward trend on the stock markets continued. Since its annual low on 29th September, the German leading index DAX was able to gain over 2,100 points. Alone within the

More information

Market Shares by Stock Exchange Turnover

Market Shares by Stock Exchange Turnover Market Shares by Stock Exchange Turnover in structured Securities Deutsche Bank remains market leader BNP Paribas takes third place in the leverage products category with capital protection (100 %) Capital

More information

Stock Exchange Turnover

Stock Exchange Turnover Stock Exchange Turnover in Derivatives Increase in turnover at the end of the quarter Considerable growth in Discount and Express with capital protection (100 %) Capital Protection Products with Coupon

More information

Stock Exchange Turnover

Stock Exchange Turnover Stock Exchange Turnover in Derivatives Exchange turnover at EUR 3.2 billion Significant growth in Discount and Bonus with capital protection (100 %) Capital Protection Products with Coupon Reverse Convertibles

More information

Stock Exchange Turnover

Stock Exchange Turnover Stock Exchange Turnover in Derivatives Exchange turnover stood at EUR 2.9 billion in October Growth in Express with capital protection (100 %) Capital Protection Products with Coupon Reverse Convertibles

More information

Market Shares. Very small gap between first and second ranks LBBW occupies third place. in structured Securities STRUCTURED SECURITIES

Market Shares. Very small gap between first and second ranks LBBW occupies third place. in structured Securities STRUCTURED SECURITIES Market Shares in structured Securities Very small gap between first and second ranks LBBW occupies third place with capital protection (100 %) Capital Protection Products with Coupon Capital Protection

More information

SECURITISED DERIVATIVES DAILY TURNOVER MAIN INDICATORS

SECURITISED DERIVATIVES DAILY TURNOVER MAIN INDICATORS Sedex Statistics March 219 SECURITISED DERIVATIVES DAILY TURNOVER 18 16 5 TRADES TURNOVER 1 9 15 13 5 12 8 7 1 5 6 9 5 7 5 4 6 4 5 3 3 2 1 5 1 JAN FEB MAR DEC218 FEBRUARY 219 MARCH 219 FEBRUARY 219 MARCH

More information

SECURITISED DERIVATIVES DAILY TURNOVER MAIN INDICATORS

SECURITISED DERIVATIVES DAILY TURNOVER MAIN INDICATORS Sedex Statistics December 218 SECURITISED DERIVATIVES DAILY TURNOVER 22 2 TRADES TURNOVER 11 1 18 9 16 8 14 7 12 6 1 5 8 4 6 3 4 2 2 1 OCT NOV DEC DEC217 NOVEMBER 218 DECEMBER 218 NOVEMBER 218 DECEMBER

More information

Market Shares. DZ BANK claims market leadership DekaBank moves up into second place. in structured Securities STRUCTURED SECURITIES

Market Shares. DZ BANK claims market leadership DekaBank moves up into second place. in structured Securities STRUCTURED SECURITIES Market Shares in structured Securities DZ BANK claims market leadership DekaBank moves up into second place with capital protection (100 %) Capital Protection Products with Coupon Capital Protection Certificates

More information

SECURITISED DERIVATIVES DAILY TURNOVER MAIN INDICATORS

SECURITISED DERIVATIVES DAILY TURNOVER MAIN INDICATORS Sedex Statistics June 218 SECURITISED DERIVATIVES DAILY TURNOVER 3 28 TRADES TURNOVER 15 14 26 13 24 12 22 11 2 1 18 9 16 8 14 7 12 6 1 5 8 4 6 3 4 2 2 1 APR MAY JUN DEC217 MAY 218 JUNE 218 MAY 218 JUNE

More information

Structured products market report Q1 2016

Structured products market report Q1 2016 Structured products market report Q1 2016 Swiss Structured Products Association SSPA May 2016 2016 Swiss Structured Products Association www.sspa-association.ch Executive summary 1 Turnover for Swiss structured

More information

DESIGNATED SPONSOR RATING

DESIGNATED SPONSOR RATING July 2018 Xetra. The market. DESIGNATED SPONSOR RATING Rating of Designated Sponsors for the second quarter of 2018 Sorted by name of the Designated Sponsor. Rating AA Designated Sponsor Registered shares

More information

MiFID II Product Governance Common Minimum Standard for the identification of a target market for securities*

MiFID II Product Governance Common Minimum Standard for the identification of a target market for securities* MiFID II Product Governance Common Minimum Standard for the identification of a target market for securities* 5 April 2017 * This concept applies to products requiring a more detailed identification of

More information

Market Report Structured Products Quarterly Report

Market Report Structured Products Quarterly Report Market Report Structured Products Quarterly Report March 2011 Swiss Structured Products Association SSPA Market report SSPA March 2011 Swiss Structured Products Association SSPA www.sspa-association.ch

More information

Market Report Structured Products Quarterly Report

Market Report Structured Products Quarterly Report Market Report Structured Products Quarterly Report December 2010 Swiss Structured Products Association SSPA Market report SSPA December 2010 Swiss Structured Products Association SSPA www.sspa-association.ch

More information

Deutsche Bank. Chief Financial Officer. Frankfurt / New York / Boston / The Netherlands 3 7 November 2008

Deutsche Bank. Chief Financial Officer. Frankfurt / New York / Boston / The Netherlands 3 7 November 2008 Deutsche Bank Stefan Krause Chief Financial Officer Frankfurt / New York / Boston / The Netherlands 3 7 November 2008 Agenda 1 Third quarter 2008 results 2 Key current issues 3 Risk and capital management

More information

Market Report Structured Products Quarterly Report

Market Report Structured Products Quarterly Report Market Report Structured Products Quarterly Report September 2011 Swiss Structured Products Association SSPA Market report SSPA September 2011 Swiss Structured Products Association SSPA www.sspa-association.ch

More information

AB SICAV I. Report of income for UK tax purposes. Dear Investor,

AB SICAV I. Report of income for UK tax purposes. Dear Investor, AB SICAV I Report of income for UK tax purposes Dear Investor, This website comprises a report of income to investors who held investments in AB SICAV I as at 31 May 2017. The classes of shares listed

More information

The structured products sector in figures. The factbook

The structured products sector in figures. The factbook The structured products sector in figures The factbook June 2013 Dear Reader Wherever we are at sea, on land or in the air figures give us a sense of orientation. In today s world, if we want to move forward,

More information

FEDERAL RESERVE BANK OF MINNEAPOLIS BANKING AND POLICY STUDIES

FEDERAL RESERVE BANK OF MINNEAPOLIS BANKING AND POLICY STUDIES FEDERAL RESERVE BANK OF MINNEAPOLIS BANKING AND POLICY STUDIES Minneapolis Options Report Feb 1 th Median inflation expectations decreased over the two week period for both inflation tenors. The probability

More information

ETFs: Regulatory (High) Impact. Commerzbank, leaders in ETF February 2018

ETFs: Regulatory (High) Impact. Commerzbank, leaders in ETF February 2018 ETFs: Regulatory (High) Impact Commerzbank, leaders in ETF February 2018 What are ETFs? Securities that track the value of an index, commodities or a basket of assets and trade like a stock on the exchange

More information

Six good reasons for choosing DNB in the new banking environment

Six good reasons for choosing DNB in the new banking environment Six good reasons for choosing DNB in the new banking environment Bank of America Merrill Lynch, 18th Annual Banking & Insurance CEO Conference 2013 24 September, London Rune Bjerke, CEO of DNB 1 Reason

More information

Investors Day. Investment Banking

Investors Day. Investment Banking Investors Day Investment Banking Mehmet Dalman Member of the Board of Managing Directors Frankfurt, September 4, 2002 Investors Day September 4, 2002 1 Contents Background 2002: First half review Future

More information

ETF Quarterly Statistics

ETF Quarterly Statistics ETF Quarterly Statistics 1 st quarter 2016 Development of the ETF segment of SIX Swiss Exchange in the 1 st quarter of 2015 In the first quarter of 2016, SIX Swiss Exchange recorded an ETF trading turnover

More information

ETF Quarterly Statistics

ETF Quarterly Statistics ETF Quarterly Statistics 2 nd quarter 2015 Development of the ETF segment of SIX Swiss Exchange in the 2 nd quarter of 2015 In the second quarter of 2015, the Swiss stock exchange saw a trading volume

More information

Auction Procedure for Austrian Government Bonds. Auction Agent for Austrian Government Bonds

Auction Procedure for Austrian Government Bonds. Auction Agent for Austrian Government Bonds Auction Procedure for Austrian Government Bonds Auction Agent for Austrian Government Bonds June 2018 2 Table of Contents Auction Procedure for Austrian Government Bonds Overview 4 Issuing frequency /

More information

European Equity Markets Loss of trading since the Lehman bankruptcy

European Equity Markets Loss of trading since the Lehman bankruptcy FESE Convention Session I - Global challenges for regulators 2 nd December 2009 Judith Hardt Secretary General Federation of European Securities Exchanges European Equity Markets Loss of trading since

More information

Standardisation of MiFIR Post Trade Transparency and Transaction Reporting for FX Vanilla Options

Standardisation of MiFIR Post Trade Transparency and Transaction Reporting for FX Vanilla Options GFMA Global FX Division Standardisation of MiFIR Post Trade Transparency and Transaction Reporting for FX Vanilla Options Regulation (EU) No 600/2014 MiFIR Article 10: Post-Trade Transparency Requirements

More information

ETF Quarterly Statistics

ETF Quarterly Statistics ETF Quarterly Statistics 3 rd quarter 2016 Development of the ETF segment of SIX Swiss Exchange in the 3 rd quarter of 2016 In the third quarter of 2016, the Swiss Exchange recorded an ETF trading turnover

More information

Spheria Australian Smaller Companies Fund

Spheria Australian Smaller Companies Fund 29-Jun-18 $ 2.7686 $ 2.7603 $ 2.7520 28-Jun-18 $ 2.7764 $ 2.7681 $ 2.7598 27-Jun-18 $ 2.7804 $ 2.7721 $ 2.7638 26-Jun-18 $ 2.7857 $ 2.7774 $ 2.7690 25-Jun-18 $ 2.7931 $ 2.7848 $ 2.7764 22-Jun-18 $ 2.7771

More information

Monthly Report. June ,57

Monthly Report. June ,57 NAV JUNE 2017 1 YEAR 3 YEARS 5 YEARS SINCE INCEPTION Global Allocation Fund* 104,98-5,71% -0,43% 22,75% 17,01% 172,77% 176,64% 350.000 Performance of 100.000 March 31, 2006 to June 30, 2017 300.000 Global

More information

ETF Monitor. Q April June

ETF Monitor. Q April June Monitor Q2 April June Contents plus News page 3 New listings on Italian market page 4 Trades page 5 Liquidity Spread page 6 AUM in Italy and Net Inflow page 7 European Comparison page 8 2 News News from

More information

Dividend Report. December 2018

Dividend Report. December 2018 Warning: Aberdeen Global has the discretion to determine the and rate of dividend to be distributed. The dividends are not guaranteed and may be investment income, gains or at the discretion of the Board

More information

Please scroll to find the 2018 and 2019 global fund holiday calendars.

Please scroll to find the 2018 and 2019 global fund holiday calendars. Please scroll to find the 2018 and 2019 global fund holiday calendars. 2018 Exchange-Traded fund holiday Vanguard Ireland-domiciled ETFs Jan Feb Mar Apr May Jun 1 2 5 12 15 25 9 12 14 15 16 19 28 20 29

More information

German Federal Government debt issuance outlook 2018 Fixed income capital market instruments

German Federal Government debt issuance outlook 2018 Fixed income capital market instruments Press Release Number 06 on 19 December 2017 Page 1 of 8 ADDRESS Lurgiallee 5 60439 Frankfurt/M. TEL +49 69 25616-1365 FAX +49 69 25616-1476 presse@deutsche-finanzagentur.de www.deutsche-finanzagentur.de

More information

Monthly Report. February ,87

Monthly Report. February ,87 NAV FEBRUARY 2018 1 YEAR 3 YEARS 5 YEARS SINCE INCEPTION Global Allocation Fund* 101,04-0,0-2,13% -6,38% 0,97% 71, 166,26% 350.000 Performance of 100.000 March 31, 2006 to February 28, 2018 300.000 Global

More information

Xetra. Supersector: Sector: Subsector: Turnover. x X X

Xetra. Supersector: Sector: Subsector: Turnover. x X X Overview Stock Report November 218 FinTech Group AG ISIN: WKN: Symbol: Description: Country: Specialist: Designated Sponsor: DEFTG1111 FTG111 FTK H GROUP AG NA O.N. Germany ICF BANK AG WERTPAPIERHANDELSBANK

More information

Xetra. Supersector: Sector: Subsector: Turnover. x X X

Xetra. Supersector: Sector: Subsector: Turnover. x X X Overview Stock Report August 218 FinTech Group AG ISIN: WKN: Symbol: Description: Country: Specialist: Designated Sponsor: DEFTG1111 FTG111 FTK FINTECH GROUP AG NA O.N. Germany ICF BANK AG WERTPAPIERHANDELSBANK

More information

INVESTMENT BANKING AND CAPITAL MARKETS THE BOSTON CONSULTING GROUP

INVESTMENT BANKING AND CAPITAL MARKETS THE BOSTON CONSULTING GROUP INVESTMENT BANKING AND CAPITAL MARKETS Market Report Fourth Quarter 23 Edition New York, Frankfurt March 2, 24 THE BOSTON CONSULTING GROUP TABLE OF CONTENTS Chapter Page Global Investment-Banking Outlook

More information

FEDERAL RESERVE BANK OF MINNEAPOLIS BANKING AND POLICY STUDIES

FEDERAL RESERVE BANK OF MINNEAPOLIS BANKING AND POLICY STUDIES FEDERAL RESERVE BANK OF MINNEAPOLIS BANKING AND POLICY STUDIES Minneapolis Options Report October 3 rd Risk neutral expectations for inflation continue to fall. Bank and Insurance company share prices

More information

Xetra. Supersector: Sector: Subsector: Turnover. x X X

Xetra. Supersector: Sector: Subsector: Turnover. x X X Overview Stock Report December 217 FinTech Group AG ISIN: WKN: Symbol: Description: Country: Specialist: Designated Sponsor: DEFTG1111 FTG111 FTK FINTECH GROUP AG NA O.N. Germany ICF BANK AG WERTPAPIERHANDELSBANK

More information

Multi Asset Indices Selection and Rebalance Dates

Multi Asset Indices Selection and Rebalance Dates 29 January 2015 DBIQ Index Selection Report Multi Asset Indices Selection and Rebalance Dates The report is designed to provide the details of future dates of selection and rebalance of various Multi-Asset

More information

Deutsche Bank. Dr. Josef Ackermann Chairman of the Management Board. Boston and New York, March 2008

Deutsche Bank. Dr. Josef Ackermann Chairman of the Management Board. Boston and New York, March 2008 Deutsche Bank Dr. Josef Ackermann Chairman of the Management Board Boston and New York, 11-12 March 2008 Agenda 1 : Solid in challenging times 2 4Q in detail 3 Management Agenda Phase 3 4 Appendix Investor

More information

Central Bank collateral frameworks before and during the crisis

Central Bank collateral frameworks before and during the crisis Central Bank collateral frameworks before and during the crisis The case of the Federal Reserve Central banking, liquidity crises and financial stability lecture Mai 20 th, 2011 Presentation by 1 Goals

More information

Multi Asset Indices Selection and Rebalance Dates

Multi Asset Indices Selection and Rebalance Dates 30 Jan 2017 DBIQ Index Selection Report Multi Asset Indices Selection and Rebalance Dates The report is designed to provide the details of future selection and rebalance dates of various Multi-Asset Indices

More information

TSX and TSXV A Capital Opportunity. Disclaimer. Prepared for: 2010 ACA Summit Date: May 6, 2010 Location: San Francisco, CA

TSX and TSXV A Capital Opportunity. Disclaimer. Prepared for: 2010 ACA Summit Date: May 6, 2010 Location: San Francisco, CA TSX and TSXV A Capital Opportunity Prepared for: 2010 ACA Summit Date: May 6, 2010 Location: San Francisco, CA Disclaimer This document is for information purposes only and is not an invitation to purchase

More information

Monthly Report. August ,40

Monthly Report. August ,40 NAV JULY 2017 1 YEAR 3 YEARS 5 YEARS SINCE INCEPTION Global Allocation Fund* 101,63-1,0-3,6 9,06% 17,29% 146,46% 167,81% 350.000 Performance of 100.000 March 31, 2006 to August 31, 2017 300.000 Global

More information

FEDERAL RESERVE BANK OF MINNEAPOLIS BANKING AND POLICY STUDIES

FEDERAL RESERVE BANK OF MINNEAPOLIS BANKING AND POLICY STUDIES FEDERAL RESERVE BANK OF MINNEAPOLIS BANKING AND POLICY STUDIES Minneapolis Options Report December 13 th Commodity Markets Option trading rose relative to two weeks ago to a more average level last week

More information

Monthly

Monthly Monthly Report @globalallocatio Morningstar Rating TM NAV DECEMBER 2016 1 YEAR 3 YEARS 5 YEARS SINCE INCEPTION Global Allocation Fund* 105,43 2,33% 13,17% 13,17% 35,20% 127,66% 177,83% 350.000 Performance

More information

Xetra. Subsector: Supersector: Turnover. x X X Index No shareholder data available (100% free float) available

Xetra. Subsector: Supersector: Turnover. x X X Index No shareholder data available (100% free float) available Overview Stock Report July 216 FinTech Group AG ISIN: WKN: Symbol: Description: Country: Specialist: Designated Sponsor: DE524961 52496 FLA Germany ICF BANK AG WERTPAPIERHANDELSBANK Transparency Level:

More information

Deutsche Bank Stefan Krause

Deutsche Bank Stefan Krause Deutsche Bank Stefan Krause Chief Financial Officer Goldman Sachs European Financials Conference Frankfurt, 5 June 2009 Agenda 1 Strength through the crisis 2 Well positioned to stay strong 3 and emerge

More information

466 deals $2.1bn $16.3bn

466 deals $2.1bn $16.3bn UK Investment Banking Review First Quarter 216 UK investment banking revenue in 1Q 216 totaled $1.bn, down 21% year-on-year. Deal volume from UK targeted M&A dropped 34% year-on-year to $49.3bn. The same

More information

Börse Stuttgart Group Stuttgart, Germany, 16 May 2007

Börse Stuttgart Group Stuttgart, Germany, 16 May 2007 Börse Stuttgart Group Stuttgart, Germany, 16 May 2007 Börse Stuttgart Group plans further expansion of successful EUWAX model in Europe Objectives: to further open up the EUWAX platform to the European

More information

COMMERZBANK AKTIENGESELLSCHAFT Frankfurt am Main

COMMERZBANK AKTIENGESELLSCHAFT Frankfurt am Main COMMERZBANK AKTIENGESELLSCHAFT Frankfurt am Main Final Terms dated October 20, 2008 with respect to the Base Prospectus dated October 2, 2008 relating to Unlimited Turbo Warrants on the DAX to be publicly

More information

monthly news monthly news December 2017

monthly news monthly news December 2017 monthly news December 1 / 11 Figures Turnover in million Euro, single counted November Year Total Daily Average Total Daily Average 35 2 43,735 185 Turnover in November 17 reached 35 million (single counted)

More information

Monthly Report. NAV NOVEMBER YEAR 3 YEARS 5 YEARS SINCE INCEPTION Global Allocation Fund* 102,30-4,68% -2,97% -0,71% 12,60% 92,82% 169,58%

Monthly Report. NAV NOVEMBER YEAR 3 YEARS 5 YEARS SINCE INCEPTION Global Allocation Fund* 102,30-4,68% -2,97% -0,71% 12,60% 92,82% 169,58% Monthly Report NAV NOVEMBER 2017 1 YEAR 3 YEARS 5 YEARS SINCE INCEPTION Global Allocation Fund* 102,30-4,68% -2,97% -0,71% 12,60% 92,82% 169,58% 350.000 Performance of 100.000 March 31, 2006 to November

More information

CONSOLIDATED FINANCIAL SERVICE REPORT STATEMENTS

CONSOLIDATED FINANCIAL SERVICE REPORT STATEMENTS 73.5 The Zalando Share 207 in Review.5 The Zalando Share 207 in Review Positive business development reflected in Zalando share performance High capital market awareness: 28 covering research analysts

More information

FUEL PRICE RISK MANAGEMENT POLICY REPORT "FUEL HEDGE"

FUEL PRICE RISK MANAGEMENT POLICY REPORT FUEL HEDGE FUEL PRICE RISK MANAGEMENT POLICY REPORT "FUEL HEDGE" Sep-18 FUEL PRICE RISK MANAGEMENT POLICY REPORT Sep-18 (Office of Management and Budget 09/30/2018) The Fuel Price Risk Management Policy approved

More information

Monthly Report November 2012

Monthly Report November 2012 Monthly Report November 2012 FPM Funds Stockpicker Germany All Cap Equity funds Germany ISIN: LU0124167924 Investment Policy The FPM Funds Stockpicker Germany All Cap invests primarily in German equities.

More information

FUEL PRICE RISK MANAGEMENT POLICY REPORT "FUEL HEDGE"

FUEL PRICE RISK MANAGEMENT POLICY REPORT FUEL HEDGE FUEL PRICE RISK MANAGEMENT POLICY REPORT "FUEL HEDGE" December 2018 FUEL PRICE RISK MANAGEMENT POLICY REPORT December 2018 The Fuel Price Risk Management Policy approved by the Board on February 16, 2006

More information

MSA EMEA ETP Report. Full year 2016 review of ETP trade volumes. February 2017

MSA EMEA ETP Report. Full year 2016 review of ETP trade volumes. February 2017 MSA EMEA ETP Report Full year 2016 review of ETP trade volumes February 2017 2 Market Share Analysis (MSA) Markit s Trading Analytics platform delivers a full suite of tools to facilitate the measurement

More information

comdirect bank German Corporate Conference Deutsche Bank Frankfurt, 1 June 2005 Dr. Andre Carls, CEO

comdirect bank German Corporate Conference Deutsche Bank Frankfurt, 1 June 2005 Dr. Andre Carls, CEO comdirect bank German Corporate Conference Deutsche Bank Frankfurt, 1 June 2005 Dr. Andre Carls, CEO Agenda 1 Overview and 2004 results New record result 2 Strategy and programme Growth and value added

More information

Globalisation and central bank policies

Globalisation and central bank policies Globalisation and central bank policies Lucas Papademos European Central Bank Bridge Forum Dialogue 22 January 28, Luxembourg 1 Chart 1: Oil and other commodity prices Brent crude oil price (USD per barrel)

More information

Risk Factor Indices Selection and Rebalance Dates

Risk Factor Indices Selection and Rebalance Dates db Index Quant 5 February 2018 dbiq Index Guide Risk Factor Indices Selection and s The report is designed to provide the details of future selection and rebalance dates of various risk factor Indices

More information

JPMorgan Japan Smaller Companies Trust Plc. 15 July 2016

JPMorgan Japan Smaller Companies Trust Plc. 15 July 2016 JPMorgan Japan Smaller Companies Trust Plc 15 July 216 JPMorgan Japan Smaller Companies Trust Plc 12m performance to 31 March 216 % 215/16 214/15 213/14 212/13 211/12 Share Price 7.8% 35.9%.5% 24.5% 1.4%

More information

AGF INTERNATIONAL ADVISORS CO. LTD.

AGF INTERNATIONAL ADVISORS CO. LTD. AGF INTERNATIONAL ADVISORS CO. LTD. Eli Nasrallah, CFA Regional Vice-President AGF Funds Inc. October, 2008 1 AGENDA 1. The financial sector what happened and where are we? 2. AGFIA s mandates the health

More information

TR-1: Standard form for notification of major holdings

TR-1: Standard form for notification of major holdings TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i 1a. Identity of the issuer

More information

Financial & Business Highlights For the Year Ended June 30, 2017

Financial & Business Highlights For the Year Ended June 30, 2017 Financial & Business Highlights For the Year Ended June, 17 17 16 15 14 13 12 Profit and Loss Account Operating Revenue 858 590 648 415 172 174 Investment gains net 5 162 909 825 322 516 Other 262 146

More information

BOARD OF DIRECTORS APPROVED:

BOARD OF DIRECTORS APPROVED: This communication and the information contained herein does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase or subscribe securities, in the United States,

More information

COMMERZBANK AKTIENGESELLSCHAFT Frankfurt am Main

COMMERZBANK AKTIENGESELLSCHAFT Frankfurt am Main COMMERZBANK AKTIENGESELLSCHAFT Frankfurt am Main Final Terms dated 18 June 2007 with respect to the Base Prospectus dated 21 May 2007 relating to Unlimited Turbo Warrants on the Dow Jones EURO STOXX 50

More information

TR-1: Standard form for notification of major holdings

TR-1: Standard form for notification of major holdings TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i 1a. Identity of the issuer

More information

DSTA OUTLOOK EVENT 2016

DSTA OUTLOOK EVENT 2016 Rubric DSTA OUTLOOK EVENT 2016 www.ecb.europa.eu Welcome Also to our 15 Primary Dealers for 2016 ABN Amro Bank Barclays Capital* Citigroup* Commerzbank* Deutsche Bank Goldman Sachs HSBC France ING Bank*

More information

BASF Finance Europe N.V. Arnhem. Annual Report 2009

BASF Finance Europe N.V. Arnhem. Annual Report 2009 Annual Report 2009 Annual Report 2009 BASF Finance Europe N.V. Index Page 1. Directors report... 3 2. Financial statements... 7 2.1. Balance sheet as at December 31, 2009... 7 2.2 Income statement for

More information

1.1. Low yield environment

1.1. Low yield environment 1. Key developments Overall, the macroeconomic outlook has deteriorated since June 215. Although many European countries continue to recover, economic growth still remains fragile reflecting high public

More information

ETF Quarterly Statistics

ETF Quarterly Statistics ETF Quarterly Statistics 4 th quarter 2014 Development of the ETF segment of SIX Swiss Exchange in the 4 th quarter of 2014 In 2014 the Swiss stock exchange saw CHF 90.8 billion of trading volume in ETFs.

More information

Goldman Sachs Long Short Fund

Goldman Sachs Long Short Fund Goldman Sachs Long Short Fund Contextualizing Historical Performance Goldman Sachs Asset Management January 2016 Risk Considerations The Goldman Sachs Long Short Fund invests primarily in the global equity

More information

Monthly Report. August ,83

Monthly Report. August ,83 Monthly Report NAV AUGUST 2018 1 YEAR 3 YEARS 5 YEARS SINCE INCEPTION Global Allocation Fund* 100,09-0,46% -3,05% -1,52% -2,47% 47,02% 163,75% 350.000 Performance of 100.000 March 31, 2006 to August 31,

More information

New Risk Management Strategies

New Risk Management Strategies Moderator: Jon Najarian, Co-Founder, optionmonster.com New Risk Management Strategies Wednesday, May 4, 2011; 2:30 PM - 3:45 PM Speakers: Jim Lenz, Chief Credit and Risk Officer, Wells Fargo Advisors John

More information

LOAN MARKET DATA AND ANALYTICS BY THOMSON REUTERS LPC

LOAN MARKET DATA AND ANALYTICS BY THOMSON REUTERS LPC LOAN MARKET DATA AND ANALYTICS BY THOMSON REUTERS LPC GLOBAL LOAN MARKET DATA AND ANALYTICS BY THOMSON REUTERS LPC Secondary Market Bid Levels: Europe Slide 2 European CLO New Issue Volume Monthly Slide

More information

U.S. ETP MONTHLY FLASH

U.S. ETP MONTHLY FLASH U.S. ETP MONTHLY FLASH JANUARY 2013 Source: NYSE Arca ETP Database and Arc vision. Statistics include only NYSE Arca listed ETPs which are derivatively priced securities that can trade intraday on a securities

More information

The Scream - Edvard Munch 1893 Current Market Update and Recent Developments

The Scream - Edvard Munch 1893 Current Market Update and Recent Developments 2011 ANNUAL MEETING AND EDUCATION CONFERENCE American College of Investment Counsel New York, NY The Scream - Edvard Munch 1893 Current Market Update and Recent Developments Thursday, October 20, 2011

More information

MNI Light At The End of The Tunnel? Euro Area Economy And the ECB. Johanna Treeck, Senior ECB Correspondent, September 2015

MNI Light At The End of The Tunnel? Euro Area Economy And the ECB. Johanna Treeck, Senior ECB Correspondent, September 2015 MNI Light At The End of The Tunnel? Euro Area Economy And the ECB Johanna Treeck, Senior ECB Correspondent, September 2015 MNI Deutsche Börse Group 1 Market Data + Services We advance markets Service lines

More information

Economic outlook and issuers' perspectives on the covered bonds market. Michael Schulz Head of Fixed Income Research

Economic outlook and issuers' perspectives on the covered bonds market. Michael Schulz Head of Fixed Income Research Economic outlook and issuers' perspectives on the covered bonds market Michael Schulz Head of Fixed Income Research 1 Feb-14 Apr-14 Jun-14 Aug-14 Oct-14 Dec-14 Feb-15 Apr-15 Jun-15 Aug-15 Oct-15 Dec-15

More information

Xetra. Supersector: Sector: Subsector: Turnover. x X X

Xetra. Supersector: Sector: Subsector: Turnover. x X X Overview Stock Report October 217 FinTech Group AG ISIN: WKN: Symbol: Description: Country: Specialist: Designated Sponsor: DEFTG1111 FTG111 FTK FINTECH GROUP AG NA O.N. Germany ICF BANK AG WERTPAPIERHANDELSBANK

More information

Global Securities Lending Business and Market Update

Global Securities Lending Business and Market Update NORTHERN TRUST 2009 INSTITUTIONAL CLIENT CONFERENCE GLOBAL REACH, LOCAL EXPERTISE Global Securities Lending Business and Market Update Michael A. Vardas, CFA Managing Director Quantitative Management and

More information

Fourth Quarter 2015 Market Review. March 2016

Fourth Quarter 2015 Market Review. March 2016 Fourth Quarter 2015 Market Review March 2016 Agenda Market Review Investment Outlook and Portfolio Positioning 2 2015 was a Challenging Year for Investment Returns Last year was the first time since 2001

More information

Aktien Opportunity UI

Aktien Opportunity UI Page 1 of 5 Investment Strategy The investment fund invests primarily in international equity markets. The structured investment policy focuses particularly on active stock and market picking using fundamental

More information

Share Information. Key data per share

Share Information. Key data per share Share Information The CompuGroup Medical share is listed on the Frankfurt Stock Exchange, Prime Standard, under the ticker COP (FRA: COP). The shares are traded through the world-wide electronic trading

More information

TR-1: Standard form for notification of major holdings

TR-1: Standard form for notification of major holdings TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i 1a. Identity of the issuer

More information

TR-1: Standard form for notification of major holdings

TR-1: Standard form for notification of major holdings TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i 1a. Identity of the issuer

More information