Trading in investment products and leverage products on European financial markets fell slightly in the third quarter of 2014. At EUR26.2 billion, the trading volume was down one per cent compared to the previous quarter.
However, exchange turnover was up 9 per cent compared with the same quarter of 2013. This is one of the findings of an analysis by Derivative Partners Research AG of the latest market data collected by the European Structured Investment Products Association (EUSIPA) from its members.
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).
The trading volume of investment products on the European exchanges in the third quarter was EUR9.1 billion, 35 per cent of the total turnover. Exchange turnover was down three per cent compared with the previous quarter and by 10 per cent compared with the third quarter of 2013.
Exchange turnover in leverage products in the third quarter was EUR17.1 billion, representing 65 per cent of the total turnover. The trading volume of Warrants, Knock-Out Warrants and Factor Certificates was almost unchanged in comparison with the previous quarter. However, year on year the volume jumped 21 percent.
At the end of September, the exchanges of EUSIPA member countries were offering 492,753 investment certificates and 702,216 leverage products. The number of products listed grew by 1 per cent overall in comparison with the second quarter. The number of investment products listed was up 9 per cent in comparison with September 2013, while over the same period the number of leverage products increased by 10 percent.
Issuers released a total of 596,647 new investment products and leverage products in the third quarter of 2014 – an increase of 10 per cent in the number of new products in comparison with the previous quarter. Investment products accounted for 23 per cent of the new issues, with 138,459 new securities. Leverage products accounted for 77 per cent of new issues, with 458,188 new securities issued.
The market volume in Austria, Germany and Switzerland at the end of September was EUR251.9 billion, about the same as in the previous quarter, but as much as 11 per cent higher than in the third quarter of 2013.
At the end of the third quarter of 2014, the market volume of investment products was EUR234.4 billion – a decrease of 2 per cent in comparison with the end of June 2014, but an increase of 7 per cent year on year.
At EUR17.4 billion, the outstanding volume of leverage products was up 35 per cent in comparison with the previous quarter, and by 115 per cent compared with the end of September 2013 – a more than twofold increase year on year.
