Trading in investment products and leverage products on the European financial markets fell in the second quarter of 2014.
At EUR26.4 billion, the trading volume was down 21.0 per cent compared with the previous quarter.
Exchange turnover was down 9.8 per cent in comparison with the same quarter of 2013, according to an analysis by Derivative Partners Research of the latest market data collected by the European Structured Investment Products Association (EUSIPA) from its members.
The trading volume of investment products on the European exchanges in the second quarter of 2014 was EUR9.4 billion, 35.6 per cent of the total turnover. Exchange turnover was down 27.2 per cent in comparison with the previous quarter and by 27.9 per cent compared with the second quarter of 2013.
Exchange turnover in leverage products in the second quarter was EUR 17.0 billion, 64.4 per cent of the total turnover. The trading volume of warrants, knock-out warrants and factor certificates was down 17.1 per cent in comparison with the previous quarter, but up 4.8 per cent in comparison with the second quarter of 2013.
At the end of June, the exchanges of EUSIPA member countries were offering 485,140 investment products and 692,813 leverage products. The number of listed products was down around 2.6 per cent in comparison with the first quarter of the year. The number of investment products listed was down 9.1 per cent on June 2013, while the number of leverage products was up 12.4 per cent year on year.
Banks issued 540,269 new investment products and leverage products in the second quarter of 2014. This represents a decline of 19.7 per cent in comparison with the first quarter of the year. Investment products accounted for 22.2 per cent of the new issues, with 120,161 new securities. Leverage products accounted for 77.8 per cent of new issues, with 420,108 securities.
The market volume in Austria, Germany and Switzerland at the end of June was EUR251.7 billion. The outstanding volume was up 0.4 per cent in comparison with the end of March 2014, and by 5.8 per cent in comparison with the end of June 2013.
At the end of the second quarter of 2014, the market volume of investment products was EUR238.8 billion – an increase of 0.2 per cent in comparison with the end of March 2014, and as much as 6.3 per cent in comparison with the end of June 2013.
At EUR12.9 billion, the outstanding volume of leverage products was up 4.4 per cent in comparison with the previous quarter, but down 3.1 per cent in comparison with the end of June 2013.
The members of EUSIPA include Zertifikate Forum Austria (ZFA), Association Française des Produits Dérivés de Bourse (afpdb), Deutscher Derivate Verband (DDV), Associazione Italiana Certificati e prodotti di Investimento (ACEPI), the Swedish Exchange Traded Investment Products Association (SETIPA), the Swiss Structured Products Association (SSPA) and the Netherlands Structured Investment Products Association (NEDSIPA).
