April 2014
Sedex Statistics
SECURITISED DERIVATIVES DAILY TURNOVER
20 000
200
TRADES
TURNOVER eur m
18 000
180
16 000
160
14 000
140
12 000
120
10 000
100
8 000
80
6 000
60
4 000
40
2 000
20
0
0
FEB
MAR
APR
MAIN INDICATORS
LISTED SeDeX
DEC2013
MARCH 2014
TRADING
APRIL 2014
MONTH
NEW LISTED
LISTED
MARCH 2014
TRADES
number
TURNOVER
eur m
TRADES
number
JAN-APR 2014
LISTED
END of MONTH
3 575
3 558
393
4 193
672
51 133
569.0
52 651
602.2
205 384
2 100.7
78
517
78
492
57
78
361
19
71
17 679
0.0
103.5
40
15 577
0.0
114.4
245
59 048
0.0
326.6
4 535.4
END of MONTH
MONTH
NEW LISTED
APRIL 2014
LISTED
END of MONTH
TURNOVER
eur m
TRADES
number
TURNOVER
eur m
MARKET SEGMENTS
CW PLAIN VANILLA
STRUCTURED/EXOTIC CW
LEVERAGE CERTIFICATES CLASS A
LEVERAGE CERTIFICATES CLASS B
29
58
2
58
-
111 627
1 220.2
106 407
1 060.9
393 260
INVESTMENT CERTIFICATES CLASS A
124
117
-
110
-
327
5.5
185
1.7
1 079
13.2
INVESTMENT CERTIFICATES CLASS B
of which CERTIFICATES IN DISTRIBUTION
817
-
894
-
60
-
891
34
22 690
41
357.5
0.3
19 701
185
314.1
2.6
87 500
362
1 464.3
3.9
5 140
5 197
512
5 691
725
203 527
2 255.7
194 561
2 093.3
746 516
8 440.1
TOTAL
UNDERLYING ASSETS
DOMESTIC SHARES
2 241
2 274
346
2 644
422
39 561
283.2
39 818
248.8
159 377
1 021.2
DOMESTIC INDICES (*)
839
773
13
806
77
127 223
1 583.1
120 550
1 475.7
453 660
5 872.3
FOREIGN SHARES
558
573
62
673
135
2 289
10.1
3 344
18.6
14 473
52.4
FOREIGN INDICES (**)
877
896
51
895
56
28 251
307.9
25 827
291.6
96 105
1 248.4
COMMODITIES (***)
199
210
16
187
-
501
2.6
315
0.9
1 873
8.1
INTEREST RATE (****)
126
122
-
95
-
378
4.0
422
4.8
1 885
17.5
CROSS RATE (*****)
165
211
16
239
31
2 098
5.8
1 618
4.8
7 794
24.6
OTHERS
135
138
8
152
4
3 226
58.9
2 667
48.0
11 349
195.6
5 140
5 197
512
5 691
725
203 527
2 255.7
194 561
2 093.3
746 516
8 440.1
BANCA AKROS
12
12
-
12
-
-
-
-
-
-
-
BANCA ALETTI
85
90
5
105
17
8 178
119.9
7 503
108.5
29 378
418.2
TOTAL
(*) Futures on Domestic Indices are included
(**) Futures on Foreign Indices are included
(***) Futures on Commodities are included
(****) Futures on Interest rate are included
(*****) Futures on Cross rate are included
ISSUERS
BANCA IMI
228
157
4
287
134
8 920
73.9
9 593
68.5
40 375
436.9
BANCA MONTE PASCHI SIENA
64
64
-
64
-
67
0.0
36
0.0
229
0.0
BARCLAYS BANK
18
14
-
14
-
120
0.5
16
0.2
624
2.6
1
1
-
1
-
1
0.0
2
0.0
5
0.0
286
293
60
289
28
22 070
158.9
21 069
142.7
73 337
553.5
30
29
-
31
3
299
7.4
340
7.7
1 323
34.9
CREDIT AGRICOLE CIB FIN (GUERNSEY)
9
10
1
10
-
1 080
9.4
721
6.1
3 740
31.7
CREDIT AGRICOLE CIB FINANCIAL PROD
6
6
-
6
-
2 272
31.5
1 060
13.1
6 812
90.6
BNP PARIBAS
BNP PARIBAS ARBITRAGE ISSUANCE
COMMERZBANK
CREDIT AGRICOLE CIB FINANCIAL SOLUT
-
1
1
1
-
-
-
-
-
-
-
CREDIT SUISSE
5
5
-
5
-
38
1.0
18
0.1
129
2.1
96
108
28
104
-
1 046
31.6
871
23.7
3 969
120.4
4
4
-
4
-
15
0.7
19
0.8
73
3.2
11
9
-
8
-
168
1.9
124
1.3
772
8.7
1.4
DEUTSCHE BANK AG
GOLDMAN SACHS INTERNATIONAL
INGBANK
JP MORGAN STRUCTURED PRODUCTS B.V
-
3
3
2
-
41
0.8
15
0.4
61
MACQUARIE STRUCTURED PRODUCTS EU
73
50
-
50
-
57
0.9
28
0.5
205
4.4
3
5
2
5
-
691
17.7
558
11.1
1 425
32.4
MORGAN STANLEY BV
8
12
3
12
-
348
7.8
323
7.0
1 670
33.5
1 412
1 442
132
1 420
-
15 484
285.4
14 882
301.4
57 746
972.0
SOCIETE GENERALE EFFEKTEN
81
84
2
83
-
91 915
1 033.0
87 917
910.4
328 005
3 787.0
SOCIETE GENERALE ISSUER
27
40
10
39
1
477
10.0
399
9.9
1 520
40.2
569
505
-
360
-
6 401
60.0
3 987
67.0
24 179
199.3
NATIXIS STRUCTURED PRODUCTS LIMITED
SOCIETE GENERALE
THE ROYAL BANK OF SCOTLAND PLC
UBS AG
UNICREDIT
UNICREDIT BANK
TOTAL
22
20
-
20
-
9
0.2
9
0.3
79
1.9
2 036
2 059
261
2 586
542
28 904
271.0
30 177
287.0
119 415
1 079.5
54
174
-
173
-
14 926
132.1
14 894
125.8
51 445
585.7
5 140
5 197
512
5 691
725
203 527
2 255.7
194 561
2 093.3
746 516
8 440.1
Borsa Italiana
APRIL 2014 SEDEX • 2
TURNOVER
MONTHLY FIGURES - eur m
CW PV
INVEST CERT
LEVERAGE CERT
CW STRUTT/ESOT
2 500
2 000
1 500
1 000
500
0
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN 2014
FEB
MAR
APR
TURNOVER BY TYPOLOGIES
MONTHLY FIGURES - eur m
0%
5%
10%
15%
20%
PLAIN VANILLA
EXOTIC ON INTEREST RATE
25%
30%
35%
40%
45%
50%
28.77%
0.00%
FIXED LEVERAGE
50.68%
STOP LOSS
2.32%
STOP LOSS R
3.14%
BONUS
BENCHMARK
DISCOUNT
PLAIN VANILLA
STRUT/ESOT
4.12%
LEVERAGE CERTIFICATES
0.08%
INVESTMENT CERTIFICATES
0.02%
PROTECTION
OUTPERFORMANCE
55%
5.56%
0.98%
EXPRESS
4.32%
MOST TRADED UNDERLYING ASSETS
IN TERMS OF NUMBER OF TRADES
MOST TRADED UNDERLYING ASSETS
IN TERMS OF TURNOVER
APRIL 2014
APRIL 2014
TRADES
TOTAL
UNDERLYING ASSET
NUMBER
FTSE MIB NET-OF-TAX (LUX) TR
FTSE MIB
FTSE MIB X5 DAILY LEVERAGED TR
FTSE MIB GROSS TR
FTSE MIB X5 DAILY SHORT STRATEGY TR
ITALIA LEVA 7 LONG
UNICREDIT
ENI
FUTURE SU FTSE MIB
FIAT
29 828
29 698
23 174
16 596
16 531
5 623
5 412
4 607
4 488
4 333
% TOT
15.33%
15.26%
11.91%
8.53%
8.50%
2.89%
2.78%
2.37%
2.31%
2.23%
DAILY
% CUM
15.33%
30.60%
42.51%
51.04%
59.53%
62.42%
65.20%
67.57%
69.88%
72.11%
NUMBER
1 491
1 485
1 159
830
827
281
271
230
224
217
TURNOVER
TOTAL
UNDERLYING ASSET
eur m
FTSE MIB
FTSE MIB NET-OF-TAX (LUX) TR
FTSE MIB X5 DAILY LEVERAGED TR
FTSE MIB GROSS TR
FTSE MIB X5 DAILY SHORT STRATEGY TR
DAX
ITALIA LEVA 7 LONG
EURO STOXX 50
FIAT
ENI
546.25
327.89
276.45
169.17
118.60
62.06
53.02
52.23
41.75
40.99
% TOT
26.10%
15.66%
13.21%
8.08%
5.67%
2.96%
2.53%
2.49%
1.99%
1.96%
DAILY
% CUM
26.10%
41.76%
54.97%
63.05%
68.71%
71.68%
74.21%
76.70%
78.70%
80.66%
Glossary
Plain Vanilla: plain vanilla Covered Warrants
IC - Benchmark: linear tracking of the underlying
IC - Bonus: minimum return guaranteed in case of moderate decline
IC - Equity Protection: (partial/total) protection from decline
IC - Discount: purchase of the uderlying at a discounted price
IC - Express: possibility of early redemption of the nominal value plus a premium
IC - Outperformance: extraperformance for certain intervals of values of the underlying
LC - Stop Loss: certificates with a knock-out barrier and leverage effect
LC - Stop Loss R: Stop Loss with daily update of the strike
CW SE - Exotics on Exchange Rates: CWs on interest rates and with periodic exercise
eur m
27.31
16.39
13.82
8.46
5.93
3.10
2.65
2.61
2.09
2.05
Borsa Italiana
APRIL 2014 SEDEX • 3
COVERED WARRANT
60
8 000
TRADES
TURNOVER eur m
6 000
45
4 000
30
2 000
15
0
0
FEB
MAR
APR
MAIN INDICATORS
LISTED SeDeX
DEC 2013
MARCH 2014
TRADING
APRIL 2014
MARCH 2014
LISTED
LISTED
MONTH
LISTED
MONTH
END of MONTHNEW LISTEDEND of MONTHNEW LISTED
END of MONTH
TRADES
number
APRIL 2014
TURNOVER
eur m
TRADES
number
JAN-APR 2014
TURNOVER
eur m
TRADES
number
TURNOVER
eur m
UNDERLYING ASSETS
DOMESTIC SHARES
DOMESTIC INDICES
FOREIGN SHARES
FOREIGN INDICES
COMMODITIES (*)
INTEREST RATE (**)
CROSS RATE (***)
OTHERS
TOTAL
1 785
701
483
363
97
76
140
8
1 802
636
464
352
113
76
186
7
300
42
19
16
16
-
2 199
677
574
394
113
76
216
22
397
71
132
42
30
-
24 048
22 409
1 477
1 881
141
67
1 180
1
121.7
439.7
2.1
3.1
0.3
0.0
2.1
0.0
27 006
20 403
1 924
1 799
109
36
1 309
105
114.2
479.0
3.3
2.7
0.2
0.0
2.2
0.6
102 354
79 653
10 623
6 343
538
229
5 768
121
442.7
1 620.8
15.9
10.0
1.1
0.0
9.5
0.7
3 653
3 636
393
4 271
672
51 204
569.0
52 691
602.2
205 629
2 100.7
12
126
64
2
1
1 412
2 036
12
56
64
2
1
1 442
2 059
132.0
261.0
12
186
64
2
1
1 420
2 586
130
542
6 745
67
4
15 484
28 904
12.6
0.0
0.0
285.4
271.0
7 592
36
4
14 882
30 177
13.9
0.0
0.0
301.4
287.0
28 223
229
16
57 746
119 415
49.2
0.0
0.0
972.0
1 079.5
3 653
3 636
393
4 271
672
51 204
569.0
52 691
602.2
205 629
2 100.7
2 280
1 295
2 253
1 305
221
172
2 613
1 580
387
285
38 742
12 391
543.4
25.6
42 320
10 331
587.6
14.7
160 456
44 928
2 014.2
86.5
799
977
1 877
1 144
610
1 882
90
98
205
1 179
724
2 368
37
111
524
32 490
2 537
16 177
69.6
7.1
492.3
28 707
5 128
18 856
54.0
20.0
528.2
110 019
32 126
63 484
206.3
98.1
1 796.2
(**) Futures on Interest rate are included
(**) Futures on Interest rate are included
(*) Futures on Commodities are included
(**) Futures on Interest rate are included
(***) Futures on Cross rate are included
ISSUERS
BANCA AKROS
BANCA IMI
BANCA MONTE PASCHI SIENA
BARCLAYS BANK
BNP PARIBAS ARBITRAGE ISSUANCE
SOCIETE GENERALE
UNICREDIT
TOTAL
CALL/PUT
CALL
PUT
EXPIRATION DATE
EXPIRY < 3 MONTHS
3 MONTHS < EXPIRY < 6 MONTHS
EXPIRY MORE THAN 6 MONTHS
TURNOVER CW CALL AND CW PUT
APRIL 2014 - eur m
2%
TURNOVER BY CW EXPIRATION DATE
APRIL 2014 - eur m
9%
CALL
EXPIRY < 3 MONTHS
3%
PUT
3 MONTHS < EXPIRY < 6
MONTHS
EXPIRY MORE THAN 6
MONTHS
98%
88%
Borsa Italiana
APRIL 2014 SEDEX • 4
COVERED WARRANT
FIRST TEN COVERED WARRANT IN TERMS OF TURNOVER TRADED IN APRIL 2014 ON FTSE MIB INDEX
ISIN
1
2
3
4
5
6
7
8
9
10
Issuer
FR0011458355
IT0004759509
IT0004900723
FR0011458256
IT0004862170
IT0004875529
FR0011458389
FR0011187582
IT0004989601
IT0004989593
SOCIETE GENERALE
UNICREDIT
UNICREDIT
SOCIETE GENERALE
UNICREDIT
UNICREDIT
SOCIETE GENERALE
SOCIETE GENERALE
UNICREDIT
UNICREDIT
Type
CALL
CALL
CALL
CALL
CALL
CALL
CALL
CALL
PUT
CALL
Strike
26 000.0
18 000.0
24 000.0
26 000.0
19 000.0
26 000.0
38 000.0
20 000.0
20 000.0
22 000.0
Underlying
Expiration Date
FTSE MIB
FTSE MIB
FTSE MIB
FTSE MIB
FTSE MIB
FTSE MIB
FTSE MIB
FTSE MIB
FTSE MIB
FTSE MIB
16/12/2022
16/12/2016
18/12/2020
16/12/2016
16/12/2016
18/12/2020
16/12/2022
18/12/2015
16/05/2014
16/05/2014
Turnover
eur m
161.69
107.41
43.03
42.92
36.39
26.24
12.74
12.48
3.60
3.22
% TOT
33.75%
22.42%
8.98%
8.96%
7.60%
5.48%
2.66%
2.60%
0.75%
0.67%
% CUM
33.75%
56.18%
65.16%
74.12%
81.72%
87.20%
89.85%
92.46%
93.21%
93.88%
Trades
2 069
809
802
827
881
760
251
149
3 262
923
FIRST TEN COVERED WARRANT IN TERMS OF TURNOVER TRADED IN APRIL 2014 ON ITALIAN STOCKS
ISIN
1
2
3
4
5
6
7
8
9
10
Issuer
FR0011456250
IT0004994767
IT0004947724
IT0005006827
IT0004962533
FR0011395045
FR0011193424
IT0004996564
IT0004980048
FR0011396282
SOCIETE GENERALE
UNICREDIT
UNICREDIT
UNICREDIT
UNICREDIT
SOCIETE GENERALE
SOCIETE GENERALE
UNICREDIT
BANCA IMI
SOCIETE GENERALE
Type
Strike
CALL
CALL
CALL
CALL
CALL
CALL
CALL
CALL
CALL
CALL
8.0
4.0
20.0
12.0
20.0
8.0
8.0
24.0
6.5
7.0
Underlying
Expiration Date
FIAT
ENEL
ENI
FIAT
GENERALI
FIAT
UNICREDIT
SAIPEM
UNICREDIT
UNICREDIT
15/12/2017
05/12/2014
05/09/2014
05/12/2014
05/12/2014
20/06/2014
19/12/2014
05/12/2014
02/06/2014
20/06/2014
Turnover
eur m
15.69
13.39
8.06
5.56
5.36
3.05
2.81
2.32
2.21
2.07
% TOT
13.73%
11.72%
7.06%
4.86%
4.69%
2.67%
2.46%
2.03%
1.93%
1.81%
% CUM
13.73%
25.46%
32.51%
37.38%
42.07%
44.74%
47.20%
49.23%
51.17%
52.98%
Trades
252
1 425
1 209
876
1 137
212
445
227
900
1 155
FIRST TEN COVERED WARRANT IN TERMS OF TURNOVER TRADED IN APRIL 2014 ON OTHER UNDERLYINGS
ISIN
Issuer
1 FR0011341452 SOCIETE GENERALE
2 IT0004943392 UNICREDIT
3 IT0004963085 UNICREDIT
4 IT0004943400 UNICREDIT
5 FR0011372747 SOCIETE GENERALE
6 FR0011453257 SOCIETE GENERALE
7 IT0004946940 UNICREDIT
8 IT0004995004 UNICREDIT
9 IT0004994957 UNICREDIT
10 IT0004910631 UNICREDIT
Type
CALL
CALL
CALL
PUT
CALL
CALL
CALL
CALL
CALL
PUT
Strike
45.0
1.5
3 400.0
1.3
950.0
500.0
45.0
65.0
60.0
2 400.0
Underlying
Expiration Date
BNP PARIBAS
EUR/USD
EURO STOXX 50
EUR/USD
BKT GOOGLE A + C
APPLE
DEUTSCHE BANK
FACEBOOK
FACEBOOK
EURO STOXX 50
19/12/2014
06/06/2014
20/06/2014
06/06/2014
19/12/2014
19/12/2014
05/09/2014
19/12/2014
19/09/2014
20/06/2014
Turnover
eur m
0.78
0.60
0.41
0.39
0.39
0.35
0.17
0.17
0.17
0.16
% TOT
8.70%
6.72%
4.51%
4.36%
4.32%
3.88%
1.93%
1.92%
1.84%
1.80%
% CUM
8.70%
15.41%
19.92%
24.28%
28.60%
32.49%
34.42%
36.33%
38.18%
39.98%
Trades
55
484
93
293
40
38
93
24
16
45
FIRST TEN EXOTIC COVERED WARRANT IN TERMS OF TURNOVER TRADED IN APRIL 2014
ISIN
Issuer
1 IT0003805469 BANCA MONTE PASCHI SIENA
2 IT0003957286 BANCA MONTE PASCHI SIENA
3 IT0003957427 BANCA MONTE PASCHI SIENA
4 XS0548381820 BARCLAYS BANK
5 IT0003921258 BANCA MONTE PASCHI SIENA
6 IT0003805501 BANCA MONTE PASCHI SIENA
7 IT0003957278 BANCA MONTE PASCHI SIENA
8 IT0003921241 BANCA MONTE PASCHI SIENA
9 IT0003921233 BANCA MONTE PASCHI SIENA
10 XS0548381747 BARCLAYS BANK
Type
Strike
ESOT
ESOT
ESOT
ESOT
ESOT
ESOT
ESOT
ESOT
ESOT
ESOT
4.0
5.0
5.0
1.2
4.0
4.0
5.0
4.0
4.0
1.2
Underlying
Expiration Date
EURIBOR 3M
EURIBOR 3M
EURIBOR 3M
EUR/USD
EURIBOR 3M
EURIBOR 3M
EURIBOR 3M
EURIBOR 3M
EURIBOR 3M
EUR/USD
31/03/2016
31/03/2020
30/09/2020
24/10/2017
30/09/2020
31/03/2020
31/03/2019
30/09/2019
30/09/2018
24/10/2014
Turnover
eur m
% TOT
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
46.72%
31.02%
7.96%
6.37%
4.63%
0.74%
0.62%
0.58%
0.36%
0.29%
Trades
54 263
27 781
30 036
25 930
11 700
6 563
5 292
12 609
6 546
2 962
2 171
5 563
4 534
7 869
1 810
% TOT
26.39%
13.51%
14.61%
12.61%
5.69%
3.19%
2.57%
6.13%
3.18%
1.44%
1.06%
2.71%
2.20%
3.83%
0.88%
% CUM
46.72%
77.74%
85.70%
92.07%
96.70%
97.45%
98.06%
98.64%
99.00%
99.30%
Trades
7
1
2
2
2
1
2
1
1
2
TRADING BY SIZE OF EVOLUTION
SIZE OF TURNOVER
0
250
500
1 000
2 000
3 000
4 000
5 000
10 000
15 000
20 000
25 000
50 000
75 000
150 000
250
500
1 000
2 000
3 000
4 000
5 000
10 000
15 000
20 000
25 000
50 000
75 000
150 000
MARCH 2014
Trades
12 977
7 207
7 618
6 256
3 049
1 522
1 245
2 888
1 807
684
580
1 407
1 279
2 105
580
APRIL 2014
eur m
1.3
2.6
5.4
8.8
7.3
5.2
5.6
20.9
21.8
11.7
12.9
50.0
77.6
219.6
118.2
Trades
12 618
7 074
7 434
6 572
2 813
1 901
1 796
4 031
2 086
710
333
1 099
1 086
2 614
524
JAN-APR 2014
eur m
1.3
2.6
5.3
9.3
6.8
6.6
8.0
28.6
25.2
12.1
7.5
40.3
66.8
259.6
122.3
eur m
5.4
10.1
21.4
36.6
28.2
22.6
23.6
90.1
79.7
51.4
48.1
196.9
286.1
808.6
392.0
% TOT
0.26%
0.48%
1.02%
1.74%
1.34%
1.08%
1.12%
4.29%
3.79%
2.44%
2.29%
9.37%
13.62%
38.49%
18.66%
Borsa Italiana
APRIL 2014 SEDEX • 5
CERTIFICATES
20 000
150
TRADES (INVESTMENT CERTIFICATES)
TURNOVER eur m (INVESTMENT CERTIFICATES)
TRADES (LEVERAGE CERTIFICATES)
TURNOVER eur m (LEVERAGE CERTIFICATES)
18 000
135
16 000
120
14 000
105
12 000
90
10 000
75
8 000
60
6 000
45
4 000
30
2 000
15
0
0
FEB
MAR
APR
MAIN INDICATORS
LISTED SeDeX
DEC 2013
MARCH 2014
TRADING
APRIL 2014
MARCH 2014
LISTED
LISTED
MONTH
LISTED
MONTH
END of MONTHEND of MONTH NEW LISTED END of MONTH NEW LISTED
TRADES
number
APRIL 2014
TURNOVER
eur m
TRADES
number
JAN-APR 2014
TURNOVER
eur m
TRADES
number
TURNOVER
eur m
LEVERAGE CERTIFICATES - UNDERLYING ASSETS
DOMESTIC SHARES
180
36
148
12
6 052
29.5
4 869
21.8
21 684
99.8
DOMESTIC INDICES (*)
50
48
9
43
4
102 222
1 092.1
97 853
952.5
363 268
4 011.7
FOREIGN SHARES
189
25
20
-
12
-
85
0.2
127
0.3
711
1.9
144
171
14
137
3
19 778
198.3
18 688
198.5
63 170
732.1
FOREIGN INDICES (**)
COMMODITIES (***)
69
66
-
45
-
237
0.9
148
0.4
940
2.9
INTEREST RATE (****)
49
45
-
18
-
194
1.7
137
0.8
1 203
9.9
CROSS RATE (*****)
16
16
-
13
-
738
1.0
162
0.9
1 331
3.7
4
4
-
3
-
-
-
-
-
1
0.0
546
550
59
419
19
129 306
1 323.7
121 984
1 175.2
452 308
4 862.0
267
292
10
297
13
9 461
132.0
7 943
112.8
35 339
478.8
88
89
4
86
2
2 592
51.4
2 294
44.2
10 739
239.8
OTHERS
TOTAL
INVESTMENT CERTIFICATES - UNDERLYING ASSETS
DOMESTIC SHARES
DOMESTIC INDICES (*)
FOREIGN SHARES
FOREIGN INDICES (**)
COMMODITIES (***)
50
89
20
87
3
727
7.8
1 293
15.0
3 139
34.6
370
373
18
364
11
6 592
106.5
5 340
90.4
26 592
506.2
33
31
-
29
-
123
1.4
58
0.3
395
4.1
INTEREST RATE (****)
1
1
-
1
-
117
2.2
249
4.0
453
7.6
CROSS RATE (*****)
9
9
-
10
1
180
2.8
147
1.7
695
11.4
OTHERS
TOTAL
123
127
8
127
4
3 225
58.9
2 562
47.4
11 227
195.0
941
1 011
60
1 001
34
23 017
363.0
19 886
315.8
88 579
1 477.5
(*) Futures on Domestic Indices
(**) Futures on Foreign Indices
(***) Futures on Commodities
(****) Futures on Interest Rate
(*****) Futures on Cross Rate
LEVERAGE CERTIFICATES - ISSUERS
BARCLAYS BANK
13
9
-
9
-
57
0.3
-
-
469
1.7
BNP PARIBAS ARBITRAGE ISSUANCE
34
68
57
75
19
18 290
106.8
17 861
94.8
56 411
324.3
DEUTSCHE BANK AG
SOCIETE GENERALE EFFEKTEN
THE ROYAL BANK OF SCOTLAND PLC
UNICREDIT BANK
TOTAL
6
10
-
10
-
439
20.9
247
11.1
1 596
79.7
11
15
2
15
-
91 504
1 026.1
87 550
903.5
326 182
3 752.4
478
429
-
291
-
6 157
57.1
3 828
65.7
23 279
189.3
4
19
-
19
-
12 859
112.5
12 498
100.1
44 371
514.6
546
550
59
419
19
129 306
1 323.7
121 984
1 175.2
452 308
4 862.0
INVESTMENT CERTIFICATES - ISSUERS
BANCA ALETTI
BANCA IMI
BARCLAYS BANK
85
90
5
105
17
8 178
119.9
7 503
108.5
29 378
418.2
102
101
4
101
4
2 175
61.4
2 001
54.6
12 152
387.7
3
BNP PARIBAS
BNP PARIBAS ARBITRAGE ISSUANCE
COMMERZBANK
3
-
3
-
59
0.2
12
0.2
139
0.9
1
1
-
1
-
1
0.0
2
0.0
5
0.0
251
224
3
213
9
3 780
52.1
3 208
47.9
16 926
229.3
30
29
-
31
3
299
7.4
340
7.7
1 323
34.9
CREDIT AGRICOLE CIB FIN (GUERNSEY)
9
10
1
10
-
1 080
9.4
721
6.1
3 740
31.7
90.6
CREDIT AGRICOLE CIB FINANCIAL PROD
6
6
-
6
-
2 272
31.5
1 060
13.1
6 812
CREDIT AGRICOLE CIB FINANCIAL SOLUT
-
1
1
1
-
-
-
-
-
-
-
CREDIT SUISSE
5
5
-
5
-
38
1.0
18
0.1
129
2.1
90
98
28
94
-
607
10.7
624
12.6
2 373
40.6
4
4
-
4
-
15
0.7
19
0.8
73
3.2
11
9
-
8
-
168
1.9
124
1.3
772
8.7
DEUTSCHE BANK AG
GOLDMAN SACHS INTERNATIONAL
INGBANK
JP MORGAN STRUCTURED PRODUCTS B.V
-
3
3
2
-
41
0.8
15
0.4
61
1.4
MACQUARIE STRUCTURED PRODUCTS EU
73
50
-
50
-
57
0.9
28
0.5
205
4.4
3
8
5
12
2
3
5
12
-
691
348
17.7
7.8
558
323
11.1
7.0
1 425
1 670
32.4
33.5
70
69
-
68
-
411
6.9
367
6.9
1 823
34.6
MORGAN STANLEY BV
NATIXIS STRUCTURED PRODUCTS LIMITED
SOCIETE GENERALE EFFEKTEN
SOCIETE GENERALE ISSUER
27
40
10
39
1
477
10.0
399
9.9
1 520
40.2
THE ROYAL BANK OF SCOTLAND PLC
91
76
-
69
-
244
2.9
159
1.3
900
10.0
UBS AG
22
20
-
20
-
9
0.2
9
0.3
79
1.9
UNICREDIT BANK
50
155
-
154
-
2 067
19.6
2 396
25.7
7 074
71.1
941
1 011
60
1 001
34
23 017
363.0
19 886
315.8
88 579
1 477.5
TOTAL
Borsa Italiana
APRIL 2014 SEDEX • 6
CERTIFICATES
NUMBER OF LISTED CERTIFICATES
TURNOVER BY TYPOLOGIES - eur m
BENCHMARK
61
300
BENCHMARK
BONUS
BONUS
58
1.7
PROTECTION
123
1060.9
DISCOUNT
110
EXPRESS
155
DISCOUNT
OUTPERFORMANCE
0.3
STOP LOSS
425
172
EXPRESS
116.5
OUTPERFORMANCE
16
PROTECTION
86.3
STOP LOSS
90.4
STOP LOSS R
65.7
FIXED LEVERAGE
STOP LOSS R
20.6
48.6
FIXED LEVERAGE
MAIN INDICATORS
LISTED SeDeX
DEC 2013
TRADING
MARCH 2014
APRIL 2014
MARCH 2014
LISTED
LISTED
MONTH
LISTED
MONTH
END of MONTHEND of MONTH NEW LISTED END of MONTH NEW LISTED
TRADES
number
APRIL 2014
TURNOVER
eur m
TRADES
number
TURNOVER
eur m
JAN-APR 2014
TRADES
number
TURNOVER
eur m
CERTIFICATES - TYPOLOGY
BENCHMARK (*)
BONUS
PROTECTION
DISCOUNT
EXPRESS
OUTPERFORMANCE
STOP LOSS
STOP LOSS R
FIXED LEVERAGE
TOTAL
124
260
145
12
271
129
26
491
29
117
418
174
16
171
115
54
438
58
28
6
6
16
4
57
2
110
425
172
16
155
123
61
300
58
13
4
8
9
19
-
327
6 081
9 694
40
5 588
1 287
11 465
6 214
111 627
5.5
88.4
141.6
1.1
106.8
19.6
46.1
57.4
1 220.2
185
5 768
7 908
21
4 769
1 235
11 749
3 828
106 407
1.7
86.3
116.5
0.3
90.4
20.6
48.6
65.7
1 060.9
1 079
23 993
31 746
90
24 067
7 468
35 300
23 748
393 260
13.2
388.5
498.2
2.3
455.5
118.7
135.6
191.0
4 535.4
1 487
1 561
119
1 420
53
152 323
1 686.7
141 870
1 491.1
540 751
6 338.4
(*) Open end and Quanto are included
NUMBER OF LISTED CERTIFICATES BY ACEPI CLASS
29.5%
CONDITIONALLY PROTECTED
INSTRUMENTS
CONDITIONALLY PROTECTED
INSTRUMENTS
419
11.8%
TURNOVER BY ACEPI CLASS
NON-PROTECTED INSTRUMENTS
NON-PROTECTED INSTRUMENTS
78.8%
168
1 175.2
165
11.6%
CAPITAL PROTECTED/GUARANTEED
INSTRUMENTS
668
47.0%
12.7%
189.3
10.1
116.4
0.7%
7.8%
CAPITAL PROTECTED/GUARANTEED
INSTRUMENTS
LEVERAGE INSTRUMENTS
LEVERAGE INSTRUMENTS
TRADING BY SIZE OF EVOLUTION
SIZE OF TURNOVER
250
500
1 000
2 000
3 000
4 000
5 000
10 000
15 000
20 000
25 000
50 000
75 000
150 000
250
500
1 000
2 000
3 000
4 000
5 000
10 000
15 000
20 000
25 000
50 000
75 000
150 000
MARCH 2014
Trades
7 454
7 503
13 886
21 350
13 263
11 507
8 538
26 679
13 907
6 989
4 528
10 570
3 155
2 126
868
APRIL 2014
eur m
1.0
2.8
10.4
31.4
32.5
39.5
38.7
187.8
163.7
120.6
99.4
367.6
181.9
212.3
197.0
Trades
6 168
7 059
12 918
21 913
13 700
10 007
7 582
25 400
13 419
5 335
4 257
8 647
2 814
1 884
767
JAN-APR 2014
eur m
0.9
2.6
9.1
30.9
33.5
34.8
34.2
175.5
159.0
91.5
94.0
305.6
162.2
192.8
164.5
Trades
25 719
25 510
46 961
74 665
51 452
35 259
32 027
93 828
50 196
24 123
18 196
37 823
12 692
8 965
3 471
% TOT
4.75%
4.72%
8.68%
13.80%
9.51%
6.52%
5.92%
17.35%
9.28%
4.46%
3.36%
6.99%
2.35%
1.66%
0.64%
eur m
3.5
9.6
34.6
107.2
126.3
121.6
145.1
657.6
591.4
416.4
401.1
1 333.7
728.0
908.7
754.7
% TOT
0.06%
0.15%
0.55%
1.69%
1.99%
1.92%
2.29%
10.37%
9.33%
6.57%
6.33%
21.04%
11.48%
14.33%
11.91%
Borsa Italiana
APRIL 2014 SEDEX • 7
CERTIFICATES
FIRST TEN LEVERAGE CERTIFICATES IN TERMS OF TURNOVER TRADED IN APRIL 2014
ISIN
1
2
3
4
5
6
7
8
9
10
DE000SG409M1
IT0006723263
DE000SG409N9
IT0006723271
DE000HV8A5F5
GB00B78T4F04
DE000HV8A5G3
NL0010398418
IT0006724782
DE000DX6ZZL5
Issuer
SOCIETE GENERALE EFFEKTEN
SOCIETE GENERALE EFFEKTEN
SOCIETE GENERALE EFFEKTEN
SOCIETE GENERALE EFFEKTEN
UNICREDIT BANK
THE ROYAL BANK OF SCOTLAND PLC
UNICREDIT BANK
BNP PARIBAS ARBITRAGE ISSUANCE
UNICREDIT BANK
DEUTSCHE BANK AG
Type
Strike
BULL
BULL
BEAR
BEAR
BULL
BULL
BEAR
BULL
BULL
BULL
Underlying
Barrier
FTSE MIB NET-OF-TAX (LUX) TR
FTSE MIB X5 DAILY LEVERAGED TR
FTSE MIB GROSS TR
- FTSE MIB X5 DAILY SHORT STRATEGY TR
ITALIA LEVA 7 LONG
5 975.0
DAX
ITALIA LEVA 7 SHORT
FUTURE SU FTSE MIB
FTSE MIB X5 DAILY LEVERAGED TR
LEVDAX X4
6 094.0
Expiration
Turnover
Date
eur m
21/12/2018
26/05/2017
21/12/2018
26/05/2017
16/11/2018
07/06/2021
16/11/2018
23/07/2018
15/09/2017
10/06/2015
327.9
268.5
169.2
116.1
53.0
46.9
17.6
17.6
8.0
8.0
% TOT
% CUM
27.90%
22.84%
14.39%
9.88%
4.51%
3.99%
1.50%
1.50%
0.68%
0.68%
27.90%
50.74%
65.14%
75.01%
79.53%
83.52%
85.02%
86.52%
87.20%
87.87%
Trades
29 828
22 285
16 596
15 954
5 623
293
2 761
2 749
889
145
FIRST TEN PROTECTION CERTIFICATES IN TERMS OF TURNOVER TRADED IN APRIL 2014
ISIN
1 IT0004853419
2 IT0004919160
3 IT0004965379
4 IT0004937865
5 GG00B6RYJZ42
6 IT0004930241
7 IT0004968753
8 IT0004883960
9 IT0004956964
10 IT0004848401
Issuer
BANCA ALETTI
BANCA ALETTI
BANCA IMI
BANCA ALETTI
CREDIT AGRICOLE CIB FINANCIAL PROD
BANCA ALETTI
BANCA ALETTI
BANCA ALETTI
BANCA ALETTI
BANCA ALETTI
Marketing
Protection
Name
Level
TARGET CEDOLA
TARGET CEDOLA
EQUITY PROTECTION
TARGET CEDOLA
EQUITY PROTECTION
TARGET CEDOLA
TARGET CEDOLA
TARGET CEDOLA
TARGET CEDOLA
TARGET CEDOLA
Underlying
Participation
Cap
Expiration Turnover % TOT
Date
15 598.6
17 419.1
2 898.1
16.4
3.7
1.2
44.6
121.2
14.8
0.6
FTSE MIB
FTSE MIB
EURO STOXX 50
ENI
ENEL
INTESA SANPAOLO
TOTAL
DIV DAX
GENERALI
EURIBOR 6M
NO
NO
100.00%
NO
NO
NO
NO
NO
NO
NO
% CUM
Trades
eur m
NO
NO
4 026.8
NO
1.2
NO
NO
NO
NO
NO
20/10/2017
18/05/2018
31/10/2016
19/07/2018
16/12/2016
14/06/2018
16/11/2018
19/01/2018
20/09/2018
28/09/2017
6.8
6.1
6.0
5.6
4.5
4.5
4.4
4.4
4.3
4.0
5.80%
5.21%
5.17%
4.83%
3.91%
3.86%
3.77%
3.74%
3.68%
3.46%
Cap
Expiration Turnover % TOT
Date
eur m
5.80%
11.02%
16.19%
21.02%
24.93%
28.79%
32.56%
36.31%
39.98%
43.45%
608
379
141
327
328
314
260
296
226
249
FIRST TEN BONUS CERTIFICATES IN TERMS OF TURNOVER TRADED IN APRIL 2014
ISIN
Issuer
1 IT0004633936 BANCA ALETTI
2 IT0004775984 BANCA ALETTI
3 IT0004674534 BANCA ALETTI
4 NL0010399309 BNP PARIBAS ARBITRAGE ISSUANCE
5 DE000HV8A604 UNICREDIT BANK
6 DE000HV8A6W8 UNICREDIT BANK
7 IT0004728272 BANCA ALETTI
8 IT0004717648 BANCA ALETTI
9 IT0004919640 BANCA IMI
10 NL0010397568 BNP PARIBAS ARBITRAGE ISSUANCE
Marketing
Name
Underlying
Barrier
BONUS
BONUS
BONUS
BONUS CAP
BONUS CAP
BONUS CAP
BONUS
BONUS
BONUS
BONUS CAP
ENEL
EUROSTOXX TELECOMMUNICATIONS (P)
INTESA SANPAOLO
UNICREDIT
GENERALI
TELECOM ITALIA
ENI
EURO STOXX 50
FTSE MIB
BANCA MONTE PASCHI SIENA
Bonus
2.0
209.9
1.5
4.2
12.6
0.6
9.8
1 717.2
11 278.1
0.1
132.00%
145.00%
135.00%
116.00%
111.00%
122.50%
124.00%
135.00%
113.70%
116.00%
NO
NO
NO
6.4
18.7
1.0
NO
NO
NO
0.2
30/09/2015
30/11/2015
29/01/2016
19/12/2014
19/06/2015
05/12/2014
25/06/2015
31/05/2016
31/05/2016
20/06/2014
6.8
6.0
4.0
3.4
2.9
2.7
2.7
2.6
2.6
2.1
7.94%
6.95%
4.68%
3.97%
3.37%
3.11%
3.08%
3.06%
3.02%
2.38%
% CUM
7.94%
14.89%
19.57%
23.54%
26.91%
30.02%
33.11%
36.16%
39.18%
41.56%
FIRST TEN BENCHMARK CERTIFICATES IN TERMS OF TURNOVER TRADED IN APRIL 2014
ISIN
Issuer
1 DE000CZ36WA6 COMMERZBANK
2 NL0009750140 THE ROYAL BANK OF SCOTLAND PLC
3 DE000BC2KZY6 BARCLAYS BANK
4 IT0004750631 BANCA IMI
5 IT0004652761 BANCA IMI
6 NL0009654649 THE ROYAL BANK OF SCOTLAND PLC
7 DE000HV777G7 UNICREDIT BANK
8 DE000HV78AJ3 UNICREDIT BANK
9 IT0004652860 BANCA IMI
10 IT0004652837 BANCA IMI
Marketing
Name
Underlying
Expiration
Date
DELTA ONE
THEME
IPATH
REFLEX LONG
REFLEX LONG
VALUTA PLUS
OPEN END
OPEN END QUANTO
REFLEX LONG
REFLEX LONG
FONDO BANTLEON OPPORT L
RBS INDIA ADR/GDR TR INDEX
EURO ST50 VOL SHORT-T FUTURES TR
FTSE MIB
S&P 500
VALUTA USD INDEX
EURO STOXX 50
ORO
EURO STOXX 50
NASDAQ 100
28/04/2017
14/04/2016
27/04/2020
18/12/2015
19/12/2014
24/11/2015
31/12/2099
31/12/2099
18/12/2015
18/12/2015
Marketing
Name
Underlying
Strike
PHOENIX MEMORY AUTOCALL
DOUBLE EXPRESS
AUTOCALLABLE STEP PLUS
PHOENIX AUTOCALLABLE
AUTOCALLABLE STEP PLUS
DOUBLE EXPRESS
EXPRESS
ATHENA FAST
DOUBLE EXPRESS
COUPON PREMIUM
ROCHE/NOV/ADE/UBS/ZURICH
ENI
FTSE MIB
INTESA SANPAOLO/STM/TELECOM IT
FTSE MIB
EUROSTOXX OIL & GAS (P)
EURO STOXX 50
ENI
AXA
EURO STOXX 50
Turnover
eur m
% TOT
0.5
0.3
0.2
0.2
0.2
0.1
0.0
0.0
0.0
0.0
26.70%
14.73%
12.24%
11.22%
8.88%
3.09%
2.27%
1.97%
1.93%
1.79%
% CUM
26.70%
41.44%
53.68%
64.90%
73.78%
76.87%
79.14%
81.11%
83.04%
84.83%
Trades
19
4
12
16
3
2
5
5
5
1
FIRST TEN OTHER CERTIFICATES IN TERMS OF TURNOVER TRADED IN APRIL 2014
ISIN
Issuer
1 DE000MS0ABY1 MORGAN STANLEY BV
2 IT0004992167 BANCA IMI
3 IT0004619240 BANCA ALETTI
4 DE000CZ37TH5 COMMERZBANK
5 IT0004657729 BANCA ALETTI
6 IT0005000457 BANCA IMI
7 DE000DE5LV97 DEUTSCHE BANK AG
8 NL0010514394 BNP PARIBAS ARBITRAGE ISSUANCE
9 IT0005000465 BANCA IMI
10 IT0004930456 BANCA ALETTI
Barrier
17.5
21 018.3
20 786.7
328.9
16.6
18.4
2 602.6
12.2
240.1
12.9
Expiration
Date
29/03/2018
27/02/2017
23/07/2015
11/03/2018
16/12/2014
13/03/2017
28/04/2016
01/08/2016
13/03/2017
15/06/2018
News
In April took place the Third Public Distribution of 4 Investment Certificates issued by BNP Paribas Arbitrage Issuance BV. The Public Distribution ended on April 24th with an amount of € 2,565,400 and 185 trades.
© April 2014 Borsa Italiana S.p.A. All rights reserved.
Turnover
eur m
7.1
5.6
4.0
2.8
2.5
2.4
2.3
2.3
2.2
2.2
% TOT
6.38%
5.04%
3.58%
2.48%
2.29%
2.13%
2.09%
2.06%
1.98%
1.95%
% CUM
6.38%
11.42%
15.00%
17.48%
19.76%
21.89%
23.98%
26.04%
28.02%
29.97%
Trades
346
162
227
65
64
58
35
90
125
169
Trades
508
323
318
169
75
209
136
114
93
96