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European certificates market higher

Stock exchange turnover rises to EUR 29.1 billion in thefirst quarter

In the first quarter European stock exchanges recorded trading volumes of EUR 29.1 billion in investment certificates and leverage products, representing a 9.3 percent increase in trading activities in comparison with the fourth quarter of 2011.

This is shown by the latest market data collected by the European Structured Investment Products Association (EUSIPA) from its members and analysed by Derivative Partners Research AG. The members 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), Swedish Exchange Traded Investment Products Association (SETIPA) und Swiss Structured Products Association (SSPA).
European trading places recorded a turnover of EUR 13.7 billion in investment certificates.

This means that trading volumes were up by 31.6 percent in comparison with the previous quarter, with investment certificates accounting for 47.2 percent of turnover. Trading in leverage products entered a calmer phase between January and March. Stock exchange turnover was down by 5.1 percent compared with the previous quarter, falling to EUR 15.3 billion. Leverage products accounted for 52.8 percent of the total turnover of the member countries‘ stock exchanges. 431,478 investment certificates and 531,182 leverage products were offered on the stock exchanges of EUSIPA members. This is equivalent to a growth of 9.4 percent in comparison with the fourth quarter of 2011. Banks listed 546,294 new products between January and March. The number of new issues rose by 7 percent in comparison with the fourth quarter of 2011. Of the new issues, 71.4 percent were leverage products
while investment certificates accounted for 28.7 percent.