IOB Newsletter - August 2014

  • IOB Newsletter

    Bringing you the latest news and updates from the IOB

 
 

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

EU further restrictive measures against Russia

  • On 31 July 2014, the Council of the European Union (EU) issued Council Regulation No 833/2014, whereby it shall be prohibited to directly or indirectly purchase, sell, provide brokering or assistance in the issuance of, or otherwise deal with transferable securities and money-market instruments with a maturity exceeding 90 days, issued after 1 August 2014 by certain named entities, entities established outside the EU which are owned more than 50% by a named entity, or any person acting on behalf of or at the direction of the foregoing.   The full text of the Council Regulation No 833/2014 can be found at: http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014R0833&from=EN

 

  • The United Kingdom Financial Conduct Authority (FCA) has stated that for so long as the sanctions remain in force it does not expect to admit to listing securities issued after 1 August 2014 by issuers within the scope of the Regulation. It has also stated that it expects, for so long as the sanctions remain in force, that depositaries for GDR issuers within the scope of the Regulation will not issue new depositary receipts. The FCA notice can be found at: http://www.fca.org.uk/about/what/protecting/financial-crime/money-laundering/events-ukraine

 

  • Details of the depositaries with depositary receipt programs admitted to trading on the International Order Book trading service, including closed notice for those programs, can be found at:

            BNY Mellon - http://www.adrbnymellon.com
            J.P. Morgan - https://www.adr.com
            Deutsche Bank - https://www.adr.db.com
            Citi - https://www.citi.com/dr

  • For so long as the sanctions remain in force the Exchange does not expect to admit to trading securities issued after 1 August 2014 by issuers within the scope of the Regulation.  Please also note that the Exchange has modified its admission to trading process (at draft and final Form 1 stages).  Issuers and/or advisers acting on the issuer’s behalf must now confirm to the Exchange that the issuer does not fall within the scope of the Regulation. 

            Member Firms are reminded that they must conduct their own due diligence to ensure they comply with any applicable current or future sanctions.

More detail on the sanctions and other UK and EU financial sanctions maintained by the United Kingdom HM Treasury can be found at: https://www.gov.uk/government/publications/financial-sanctions-consolidated-list-of-targets

IOB equity trading in July

  • IOB average cash equity Daily Turnover was $675 million 

 

IOB derivative trading in July

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

  • July 2014 2014 saw continued growth of IOB DR futures (+1,528% on Jan-Jul 13) with 56,711 contracts traded. Open interest at historical high again, with 320,225 contracts.
  • 441,447 IOB DR options  traded

New members

  • At end of July 2014, LSE had 362 member firms; 93 members have trading access to IOB (CCP)
  • Please click here to find out more about member firms details and their access to our markets

 International News

  • The Romanian company Electrica S.A joined London Stock Exchange Main Market on July 4th following its listing of Global Depositary Recepits (GDRs). The company raised $605 million at IPO, giving it a market value of $1.18. Read full story.
  • The Israeli company Matomy Media is the second company to list on London Stock Exchange's High Growth Segment. The company raised £41 million giving it a market value of £203 million. Read full story.