ETP volumes hold up but metals holdings fall

Lyxor reported that weekly on-exchange exchange-traded products (ETP) turnover (which represents roughly 40% of total market) increased from €18.2bn to €31.9bn, an increase of 75% on the previous week. Meanwhile, Cowen & Co (which recently acquired LaBranche Structured Products Europe) has released figures showing strong success in its primary market activities. Its orders increased 57% from the previous week owing to clients selling over-the-counter as spreads widened significantly. Emerging markets ETFs did well, it reports, with only modest redemptions on the week. iShares and Lyxo...