IOB Newsletter - February 2014

 

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This month's top 10 most traded names and volume risers on the IOB

Cash equity trading

Post consultation Dec 2013, IOB improvements are effective today.

  1. Market open at 08:00, instead of 08:15
  2. CPX extended by 15 minutes, finishing at 16:00
  3. Smaller tick sizes for liquid stocks – Gazprom, Lukoil, Sberbank, Norilsk Nickel, Rosneft and Novatek.

Asian GDRs’ share of trading on IOB (on&off book) increased in 2013: South Korea up from 2.7% to 5.3% and India up from 2% to 2.3%

IOB derivative trading

IOB Derivatives are part of the London Stock Exchange Derivatives Markets, which include IOB, UK, and Norwegian products.

Continued growth of IOB DR futures (+315% on Jan 13) with 46,404 contracts traded (notional: $57m). Open interest (114,258 contracts) at historical high. Total 2013 volumes (272,227 contracts traded, for a notional of $327m) up 159% on previous year. Uralkali was the most popular stock future in 2013.

Dec 13 saw increase on IOB DR options volumes, 1.9m contracts traded (notional: $1.45bn) - highest since Nov 2012. Jan 14 volumes eased to 1.2m contracts (notional: $1.27bn).

Primary

4 GDR IPOs in 2013

  • Wisdom Marine Lines, Taiwan, raised $99.3m.
  • Societatea Natl de Gaze in Romaz SA, Romania, raised $534.9m.
  • TCS Group, Russia, raised $1,087m.
  • Damac Real Estate Development, UAE, raised $347.8m.

New members

  • At end of January 2014, LSE had 371 member firms; 92 members have trading access to IOB (CCP).
  • BrokerTec Europe Limited and MC Peat LLP became LSE members in Jan; BCS Prime Brokerage Limited and TrailStone GmbH joined LSE in Dec 13.
  • GF Financial Markets (UK) became a LSE member on 7 Feb 2014.

International news

  • Trading Technologies announced they will connect to LSEG derivatives markets in 2014.
  • Two China A share ETFs - CSOP Source FTSE China A50 UCITS ETF and db x-trackers Harvest CSI300 INDEX UCITS ETF (DR) - listed on LSE in Jan.
  • On 9 Jan, Bank of China London issued RMB 2.5 billion (GBP 253m) of 3.45% Notes due 16 Jan 2017. It was the largest single London RMB bond issuance

Russia and Asia capital market conferences 2013 videos

Highlights of the Russia and Asia conferences now available online

Upcoming events 2014

7 March 2014, London – Caspian Corridor conference in London showcasing investment opportunities in the countries of the Caspian region, IBA event supported by LSEG.

23 May 2014, St Petersburg – LSEG will attend the St Petersburg Economic Forum.

4-5 June 2014, Moscow – LSEG will host its 2-day Annual Russia & CIS IPO conference. The event will include IPO workshops, sector-focused panel sessions and discussion of the Russian macroeconomic situation, latest regulatory update and the outlook for capital markets activity in the region.

Please contact our team for delegate registration, speaking and sponsorship opportunities.

July 2014 (date TBC) – LSEG IPO conference in Almaty, Kazakhstan.

November 2014 (date TBC) - LSEG Russia & CIS Investment Conference in London.