/raid1/www/Hosts/bankrupt/TCREUR_Public/150526.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
E U R O P E
Tuesday, May 26, 2015, Vol. 16, No. 102
Headlines
A U S T R I A
VTB BANK: Moody's Confirms 'B3' Long-Term Deposit Rating
C Y P R U S
BANK OF CYPRUS: Fitch Affirms 'B-' Rating on EUR1-Bil. Bonds
F R A N C E
CGG SA: Moody's Lowers CFR to 'B1', Outlook Negative
DRY MIX SOLUTIONS: Moody's Affirms 'B2' Corp. Family Rating
PAPREC HOLDING: S&P Assigns B+ Corp Credit Rating, Outlook Stable
G E R M A N Y
SMART SME 2006-1: Fitch Affirms 'CCsf' Rating on Class E Notes
G R E E C E
GREECE: Seeks Urgent Bailout Deal; Rules Out Capital Controls
H U N G A R Y
HUNGARY: Fitch Revises Outlook on 'BB+' IDR to Positive
I R E L A N D
BACCHUS 2006-2: S&P Affirms 'CCC+' Rating on Class E Notes
CVC CORDATUS V: Moody's Rates EUR15.15MM Class F Notes 'B2'
CVC CORDATUS V: Fitch Assigns 'B-sf' Rating to Class F Notes
DELTA CDO 2005-1: Fitch Cuts Ratings on 8 Tranches to 'Dsf'
IRISH BANK: Quinns Can Proceed with Claims in Loan Dispute
TAURUS CMBS 2007-1: S&P Lowers Rating on Class B Notes to 'D'
L U X E M B O U R G
ALTICE SA: Moody's Puts 'B1' CFR Under Review for Downgrade
N E T H E R L A N D S
CADOGAN SQUARE VI: Fitch Rates Two Note Classes 'B-(EXP)sf'
CAIRN CLO V: Fitch Assigns 'B(EXP)sf' Rating to Class F Notes
GBP: Wants Liquidation; Seeks Solution for Pensions Provision
N O R W A Y
PETROLEUM GEO-SERVICES: Moody's Cuts CFR to Ba3, Outlook Negative
P O L A N D
GETIN NOBLE: Moody's Confirms 'Ba2' Long-Term Deposit Rating
INTRALOT SA: Fitch Affirms B+ Issuer Default Rating, Outlook Neg
R U S S I A
EURASIA DRILLING: Fitch Affirms 'BB' IDR, Outlook Stable
POLYUS GOLD: S&P Affirms 'BB+' CCR, Outlook Remains Negative
SAMARA OBLAST: S&P Lowers ICR to 'BB' on Weakening Liquidity
S P A I N
AMPER SA: Seeks Modification of Syndicated Loan Clause
BANCO SANTANDER: Fitch Affirms 'BB' Rating on Preference Shares
CAIXA GERAL: Fitch Lowers IDR to 'BB-', Outlook Stable
CAJAS RURALES: Fitch Lowers Issuer Default Rating to 'BB-'
S W I T Z E R L A N D
VISTAJET GROUP: Fitch Assigns 'B' Long-Term Issuer Default Rating
U K R A I N E
METINVEST BV: Moody's Says US$114MM Missed Payment Is Credit Neg
U N I T E D K I N G D O M
FITNESS FIRST: Still Counting Cost of Falling Into Administration
INTERNATIONAL PERSONAL: Fitch Affirms BB+ Issuer Default Rating
MCLEOD BUILDING: In Liquidations, Cuts 30 Jobs
RANGERS FC: FIFA Insists It is the Same Amid Liquidation Woes
REDCLIFFE MAGTRONICS: Goes Into Administration
TITAN EUROPE 2007-1: S&P Lowers Rating on Class A Notes to CCC-
U Z B E K I S T A N
QISHLOQ QURILISH: Moody's Lowers LT Deposit Rating to 'B2'
X X X X X X X X
* Large Companies with Insolvent Balance Sheets
*********
=============
A U S T R I A
=============
VTB BANK: Moody's Confirms 'B3' Long-Term Deposit Rating
--------------------------------------------------------
Moody's Investors Service has taken rating actions on two European
subsidiaries of VTB Group -- VTB Capital plc and VTB Bank
(Austria) AG (VTBA) -- following the implementation of Moody's new
banking methodology, particularly the introduction of its Loss
Given Failure (LGF) analysis. These actions conclude the review on
the deposit and issuer ratings initiated on March 17, 2015.
Specifically, Moody's has:
-- confirmed both banks' Ba3 long-term deposit ratings;
-- downgraded their standalone baseline credit assessments
(BCAs) to b2 from b1; and
-- assigned Counterparty Risk Assessments (CR Assessments) of
Ba1(cr)/Not Prime(cr) to both VTB Capital and VTB Austria.
Moody's says that the confirmation of the long-term deposit
ratings derives from the introduction of the rating agency's LGF
analysis, which results in one notch of uplift incorporated in the
banks' senior ratings.
VTB Capital and VTBA are subject to the EU Bank Resolution and
Recovery Directive (BRRD), which Moody's considers to be an
Operational Resolution Regime. The rating agency's assumptions,
which are applied to these banks, assume residual tangible common
equity of 3% and losses post-failure of 13% of tangible banking
assets, a 25% run-off in junior wholesale deposits, a 10% run-off
in preferred deposits, and a 25% probability of deposits being
preferred to senior unsecured debt.
Under these assumptions, deposit are likely to face a relatively
low loss-given-failure, due to the loss absorption provided by
subordinated debt and, potentially, by senior unsecured debt
should deposits be treated preferentially in a resolution, as well
as the substantial volume of deposits themselves. This provides
one notches of uplift from the adjusted BCA.
VTB Capital:
The lowering of the BCA to b2 from b1 reflects the high likelihood
that the bank's partial exposure to the economic environment in
Russia (Ba1 negative), via its client-base, has resulted in higher
credit losses and weakening profitability. In addition, Moody's
expects that negative profitability will put pressure on the
bank's internal capital-generation capacity and heighten its
dependence on parental funding.
VTB Austria:
The lowering of the BCA to b2 from b1 reflects the pressures on
the already weak profitability and deleveraging trends that VTBA
is experiencing. In addition, Moody's expects negative asset
quality trends to exert pressure on the bank's already modest
level of internal capital generation.
The outlook on both banks' deposit ratings is negative, in line
with the rating outlook of the direct parent and support provider
Bank VTB, JSC (Ba2 FC deposits, Ba1 LC deposits, negative, BCA
b1).
Moody's considers that upward pressure on the long-term ratings of
these subsidiaries is unlikely given the negative outlook. The
supported ratings of these subsidiaries would be negatively
affected if the parent's ratings were downgraded.
The subsidiaries' standalone credit profiles -- as expressed by
their BCAs -- could come under pressure if there is any further
significant deterioration in their financial fundamentals and
loss-absorption capacity, given the challenging operating
environment and current funding conditions for these entities.
As part of the actions, Moody's has assigned Ba1(cr)/Not Prime(cr)
CR Assessments to both VTB Capital and VTB Austria.
The CR Assessment, which is not a rating, reflects an issuer's
probability of defaulting on certain bank operating liabilities,
such as derivatives, letters of credit and other contractual
commitments. In assigning the CR Assessment, Moody's evaluates the
issuer's standalone strength and the likelihood, should the need
arise, of affiliate and government support, as well as the
anticipated seniority of counterparty obligations under Moody's
Loss Given Failure framework. The CR Assessment also assumes that
authorities will likely take steps to preserve the continuity of a
bank's key operations, maintain payment flows, and avoid contagion
should the bank enter a resolution.
In most cases, the starting point for the CR Assessment is one
notch above the bank's Adjusted BCA, to which Moody's then
typically adds the same notches of government support uplift as
applied to deposit and senior unsecured debt ratings. As a result,
the CR Assessment for most Irish banks is one notch higher than
their senior unsecured debt and deposit ratings, reflecting
Moody's view that authorities are likely to honour the operating
obligations the CR Assessment refers to in order to preserve a
bank's critical functions and reduce potential for contagion.
The principal methodology used in these ratings was Banks
published in March 2015.
===========
C Y P R U S
===========
BANK OF CYPRUS: Fitch Affirms 'B-' Rating on EUR1-Bil. Bonds
------------------------------------------------------------
Fitch Ratings has affirmed Bank of Cyprus Public Company Ltd's
(BoC, CCC/C, Viability Rating: ccc) EUR1 billion residential
mortgage covered bonds at 'B-', with a Stable Outlook. The
affirmation follows a full review of the program.
KEY RATING DRIVERS
The rating is based on BoC's Long-term Issuer Default Rating (IDR)
of 'CCC', an unchanged IDR uplift of 1, an unchanged Discontinuity
Cap (D-Cap) of 0 (full discontinuity) and the 95.24% asset
percentage (AP) that Fitch takes into account in its analysis,
which is in line with the 'B-' breakeven AP. The Stable Outlook
on the covered bond rating reflects the slower pace of underlying
asset quality deterioration, despite continued economic pressure.
Fitch gives credit to the maximum AP level allowed by the Cypriot
covered bond legal framework, which corresponds to 5%
overcollateralization. This AP is adequate to reach at least 51%
recoveries on the bonds assumed to be in default in a 'B-' rating
scenario and allowing a one-notch uplift above the 'CCC+' tested
rating on a probability of default basis.
The unchanged D-Cap of 0 is due to the weak link assessment of
liquidity gap and systemic risk component. The agency deems that
the 12-month maturity extension of the covered bonds would not be
sufficient to successfully perform a sale of the assets once the
covered bonds' source of payment switches from the issuer to the
cover pool.
Fitch's view on the use or resolution method other than
liquidation contributes to the IDR uplift of 1, which is unchanged
since our last review, reflecting the systemic interconnectedness
of the issuer in the Cypriot economy. Cyprus is not a covered
bonds-intensive jurisdiction and Fitch deems there is no
protection provided by senior unsecured debt because it is below
the level of 5% of total adjusted assets.
Fitch has revised some of the foreclosure frequency adjustments
and house price decline assumptions to reflect its current-to-
trough expectations.
The agency has also lengthened the recovery timing for Cypriot
residential foreclosures to eight years from six years. This
reflects the current prolonged time to foreclosure, due to the
weak housing market and the high volume of delinquent and
defaulted loans, with resulting delays in court processes.
Fitch has updated the weighted average (WA) foreclosure frequency
and the WA recovery rates for the cover pool (as at end-March
2015) to 57.2% and 68.3%, respectively, resulting in a loss rate
of 18.1%, down from 19.5% previously. The change in the loss rate
is driven by the updated asset assumptions.
In the absence of any interest rate hedging, the program is
exposed to interest rate and basis risk due to mismatches between
the fixed or floating rate from the mortgage loans and the
EURIBOR-yielding covered bonds.
The 95.24% 'B-' breakeven AP is driven by the stressed valuation
of the entire cover pool after an assumed covered bond default
(85.1%) due to high refinancing spreads applied (1500bps for
Cyprus), followed by the cover pool's credit loss of 22.2%, which
reflects the updated foreclosure frequency and recovery rate
assumptions. The cash flow valuation component of -9.7% is driven
by high excess spread and limited open interest rate positions
(82% floating-rate assets vs 100% floating-rate covered bonds).
RATING SENSITIVITIES
All else being equal, the 'B-' covered bonds rating would be
vulnerable to any movements of BoC's IDR. The rating would also
be downgraded if the number of notches represented by the IDR
uplift and the D-Cap reduced to zero.
The Fitch breakeven AP for the covered bond rating will be
affected, amongst others, by the profile of the cover assets
relative to outstanding covered bonds, which can change over time,
even in the absence of new issuance. Therefore the breakeven AP
to maintain the covered bond rating cannot be assumed to remain
stable over time.
===========
F R A N C E
===========
CGG SA: Moody's Lowers CFR to 'B1', Outlook Negative
----------------------------------------------------
Moody's Investors Service downgraded CGG SA's corporate family
rating to B1 from Ba3 and probability of default rating to B1-PD
from Ba3-PD. Concurrently, Moody's has also downgraded to Ba1 from
Baa3 the ratings on the senior secured French revolving credit
facility and the senior secured US revolving credit facility (RCF)
issued by CGG and CGG Holding (U.S.) Inc respectively as well as
from B1 to B2 the ratings on the senior notes issued by CGG SA.
The rating outlook remains negative.
The rating action reflects Moody's expectations that the seismic
industry will remain weak for an extended period of time with
limited visibility around a potential recovery. Despite the
capacity reductions in the industry, Moody's expects the market to
remain oversupplied as oil companies scale back their exploration
spending following the sharp fall in oil prices.
Moody's expects bottom-of-cycle margins in contract seismic due to
further pricing pressures and low level of vessel active time
because of higher idle time and/or steaming time between two jobs.
In multi-client surveys, Moody's expects late sales to remain
difficult to predict as customers delay purchases while pre-
funding rate for new surveys should be in line with the company's
target level of 70% or above. The weak seismic will also take a
toll on equipment sales, notably marine equipment which will also
be impacted by vessel retirements by CGG and other market
participants. On the other hand, the subsurface imaging business
should remain resilient but external sales will be impacted by
higher level of internal activity.
As a consequence, CGG's leverage as measured by Debt EBITDA minus
multi-client amortization is not expected to improve in 2015 and
will remain weak for the B1 category with limited visibility on
deleveraging prospects in 2016. For the last twelve months ending
March 2015, CGG's leverage stood at 6.6x.
Furthermore, Moody's expects the company to continue to generate
negative free cash flow in 2015 (including restructuring costs)
and possibly in 2016 too. That being said, Moody's views the
company's liquidity profile as adequate at this stage with, as of
March 31, 2015, unrestricted cash balance of approximately USD179
million and approximately USD351 million available under its RCFs.
However, whilst the company has currently sufficient headroom
under its financial maintenance covenants with notably the
leverage covenant at 2.5x as of end of March 2015 compared to a
covenant of 3.75x, Moody's notes that this financial covenant will
step-down to 3.5x in December 2015. On the positive side, the
rating reflects that CGG has no material debt maturity over the
next couple of years.
CGG's ratings also continue to be supported by the group's
position as global leader in seismic equipment (through Sercel)
and among the largest players in marine seismic services worldwide
as well as the group's strong capabilities in sub-surface imaging
and reservoir.
The negative outlook reflects the continued softening of market
conditions combined with the lack of visibility around an eventual
recovery, while the credit metrics are weak for the rating
category.
A downgrade of the CFR could occur in the event of limited
improvement in operating performance, resulting in Moody's
expectation that leverage will remain sustainably over 5.5x in
2016 or material deterioration in the company's liquidity position
in the coming quarters.
The outlook could be stabilized following improvement in market
conditions and operating performance. Over time, the rating could
be upgraded if leverage falls towards 4.0x on a sustained basis
and the company maintains a solid liquidity profile. Any potential
upgrade would also include an assessment of market conditions.
The principal methodology used in these ratings was Global
Oilfield Services Industry Rating Methodology published in
December 2014. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.
Headquartered in France, CGG ranks among the top three players in
the seismic industry, with revenues of USD3.1 billion in 2014. It
is listed on both Euronext Paris and the New York Stock Exchange.
DRY MIX SOLUTIONS: Moody's Affirms 'B2' Corp. Family Rating
-----------------------------------------------------------
Moody's Investors Service changed to positive from stable the
outlook on its ratings of Dry Mix Solutions Investissements
S.A.S., the intermediate holding company of France based dry mix
solutions specialist Parex Group. Concurrently, Moody's affirmed
the B2 corporate family rating and B1-PD probability of default
rating as well as the B2 rating on the group's seven-year EUR550
million senior secured floating rate notes (due June 2021).
"The outlook change to positive reflects the very robust
performance of Parex through fiscal year 2014 which benefitted
from a solid growth in demand across all of its business lines,
particularly driven by emerging markets, as well as financial
ratios which have improved faster than we had expected at the time
of our rating assignment in June 2014", says Goetz Grossmann,
Moody's lead analyst for Parex. "The positive outlook on Parex's
ratings, which were already strongly positioned at the outset,
indicates the possibility of a rating upgrade to B1 over the next
12 months, provided that the currently benign business environment
and market dynamics remain supportive", adds Mr. Grossmann.
Issuer: Dry Mix Solutions Investissements S.A.S.
-- Corporate Family Rating, Affirmed B2
-- Probability of Default Rating, Affirmed B1-PD
-- Senior Secured Regular Bond/Debenture, Affirmed B2
Outlook Actions:
-- Outlook, Changed To Positive From Stable
The affirmed B2 CFR and the positive outlook recognize the sound
improvement in Parex's operating performance in 2014, mainly
driven by strongly growing demand in emerging markets, fuelled by
accelerating product substitution trends towards speciality dry-
mix solutions which are increasingly replacing more labor-
intensive on-site mixed mortars in these regions. As a result,
sales generated in emerging markets of EUR394 million in fiscal
year ended December 2014 represented more than 50% of total sales
(EUR783 million), thereby surpassing sales derived from mature
markets for the first time in the group's history. Key developing
region was China where sales rose EUR33 million or 35% in 2014
over the prior year, while total reported group sales grew by
3.8%. However, excluding adverse foreign currency movements, sales
would have grown 9.4% in 2014, mainly reflecting a weaker
Argentinean peso and Brazilian real against the euro. Despite
currency effects also negatively affecting Parex's earnings by
EUR7 million in 2014, Moody's acknowledges the solid improvement
in group EBITDA (as adjusted by Parex) to about EUR117 million in
2014 from EUR105 million in the previous year (+10.9%).
Correspondingly, the group's EBITDA margin widened to 14.9% in
2014, a 0.9%-point increase versus 2013 and decently better than
Moody's had anticipated when assigning its ratings to Parex in
June 2014. On a Moody's adjusted basis, Parex's EBITDA margin
reached 15.6% in 2014 which already exceeded the trigger for an
upgrade (15%) as specified by the rating agency at that time.
Likewise, Parex's leverage ratio reduced to about 5.3x debt to
EBITDA as of 31 December 2014, which positions the group strongly
in the B2 rating category. Driven by Moody's expectation of Parex
to continue strengthening its earnings, which will support
deleveraging further to levels below 5x debt to EBITDA over the
next 12 to 18 months, this will exert upward pressure on its
ratings as reflected in the positive outlook. That said, the
agency believes that Parex will benefit from sustained favorable
dynamics in its emerging regions (especially Asia) supported by
ongoing substitution trends, whereas demand in its domestic and
largest individual market France (31% of group turnover in 2014)
where residential new-build activity has just reached a low point
should remain depressed also during this year. However, Moody's
expects Parex to profit from healthy conditions also in mature
countries other than France, including a further growing new-build
market in North America and recovering Australian new housing
market, which should partly offset the sluggish construction
activity in its home market.
Concerning cash flow generation, Parex's adjusted free cash flow
was slightly negative in 2014 (EUR-7 million), mainly due to
sizeable interest payments and other finance related costs
(together EUR47 million of which around EUR23 million related to
financing fees of the group's new debt). However, Moody's expects
the group to reasonably improve adjusted free cash flow which the
agency projects in the lower double-digit million euro range in
the current fiscal year, implicating a FCF to debt ratio in the 4-
6% band.
Moody's regards Parex's liquidity profile as good. At
December 31, 2014, the group's internal cash sources comprised
EUR102 million of cash and cash equivalents (of which around EUR6
million restricted in Argentina, even though the group was able to
transfer EUR3 million out of that country during 2014) as well as
annual funds from operations of around EUR70 million. Expected
cash needs over the next 12 to 18 months relate to working capital
consumption (intra-year swings of around EUR30 million assumed),
capital expenditures of approximately EUR33 million per annum,
minor short-term debt maturities as well as a EUR15 million
payment for the acquisition of the remaining shares in a Chinese
subsidiary in the first quarter of 2015. These liquidity needs,
together with Moody's standard assumption of c.3% of group sales
for working cash requirements, are comfortably covered by the
group's available cash sources including its committed EUR100
million super senior revolving credit facility (maturing 2021)
which was undrawn as of December 31, 2014.
The positive outlook incorporates the expectation that Parex will
maintain its strong profitability at levels achieved in 2014. It
also assumes that the group's credit profile will strengthen
further, including continued growth in earnings and gradual
deleveraging to well below 5x debt to EBITDA over the next 12-18
months. Moreover, Moody's expects Parex to achieve positive free
cash flow generation from 2015 onwards and to maintain its healthy
liquidity position.
Moody's might consider to upgrade Parex if the group were able to
(1) reduce adjusted gross debt to EBITDA below 5.0x; (2) maintain
adjusted EBITDA margins above 15%; and (3) generate meaningful
positive free cash flow in the double-digit million range on a
sustainable basis.
Negative rating pressure could arise should Parex's (1) adjusted
gross debt to EBITDA exceed 6.0x, and not only temporarily; (2)
profitability deteriorate as reflected in adjusted EBITDA margins
reducing to below 13.0%; and (3) free cash flow turn negative.
Moreover, failure to maintain an adequate liquidity profile would
exert pressure on the ratings.
The principal methodology used in these ratings was Building
Materials Industry published in September 2014. Other
methodologies used include Loss Given Default for Speculative-
Grade Non-Financial Companies in the U.S., Canada and EMEA
published in June 2009.
Headquartered in Issy-les-Moulineaux, France, Dry Mix Solutions
Investissements S.A.S. is an intermediate holding company of
ParexGroup (Parex), a global leading manufacturer and distributor
of specialty dry-mix solutions for the construction industry. The
group's product offering is divided into three business lines, (1)
FaƔade Protection and Decoration; (2) Ceramic Tile Setting
Materials; and (3) Concrete Repair and Waterproofing Systems
across which Parex holds top 3 positions in its key markets. In
the fiscal year ended December 2014, Parex generated net sales of
EUR783 million and reported EBITDA of EUR117 million with about
3,700 employees worldwide. The group operates 62 manufacturing
sites and 9 R&D facilities in 20 countries. In June 2014, funds
advised by private equity firm CVC Capital Partners acquired all
shares in Parex from French industrial chemicals and building
materials group Materis.
PAPREC HOLDING: S&P Assigns B+ Corp Credit Rating, Outlook Stable
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it had assigned its
'B+' long-term corporate credit rating to Paprec Holding, a
holding company for France-based recycling group Paprec. The
outlook is stable.
At the same time, S&P assigned its 'BB-' issue rating and '2'
recovery rating to Paprec's EUR100 million super senior revolving
credit facility (RCF). S&P also assigned its 'B+' issue rating
and '3' recovery rating to the EUR295 million senior secured
notes. At the same time, S&P assigned its 'B-' issue rating and
'6' recovery rating to the EUR185 million senior subordinated
notes.
S&P's corporate credit rating on Paprec primarily reflects S&P's
forecast that the company will report Standard & Poor's-adjusted
debt to EBITDA in excess of 5x and funds from operations (FFO) to
debt of about 11%-13% by year-end 2015.
Paprec successfully refinanced its existing financing package
(comprising more than EUR400 million of on-balance-sheet debt and
EUR175 million of mezzanine notes) through EUR295 million of new
senior secured notes due 2022 and EUR185 million of new senior
subordinated notes due 2023. While the overall aggregate amount
of EUR480 million new debt is in line with S&P's initial
assumptions, the EUR15 million upsize in senior secured notes was
fully compensated by a similar amount reduction in the senior
subordinated notes. Furthermore, the company benefited from
better pricing conditions than initially anticipated, which has
translated into slightly more comfortable cash interest coverage.
Following the closing of the transaction, the company's adjusted
debt also included nearly EUR20 million of bilateral lines, just
over EUR100 million finance leases, asset-retirement obligations
estimated at EUR8 million, pension adjustments of more than EUR7
million, and guarantees and debt issuance costs in excess of EUR10
million.
The rating on Paprec also reflects S&P's view of the company's
small absolute size in the French waste management sector. In
2014, Paprec processed about 6 million tons of waste (out of 50
million tons in the French sector as a whole) and generated just
below EUR800 million of revenues and reported EBITDA near EUR100
million. This leaves Paprec clearly smaller than the two other
large French players: Veolia (BBB/Stable/A-2) and Suez
Environment. Further weighing on the company's business risk
profile is its focus on the French market, where still-sluggish
macroeconomic prospects could negatively affect industrial waste
volumes.
These weaknesses are somewhat offset by the company's leading
market positions and fairly diversified recycling offering. It
also has satisfactory coverage of the national territory with a
presence in most industrialized and urban areas, and the sector
has inherently high barriers to entry, including a demanding
process for obtaining official authorizations for new site
openings. On the strength of the indexation mechanism and with
contracts averaging three to five years, the company has been able
to broadly maintain its EBITDA margin at a level of profitability
S&P views as average. In S&P's view, a supportive French
regulatory framework that encourages a shift in waste processing
from landfill/incineration to recycling will further contribute to
volume growth, although at a gradual pace.
Paprec received an aggregate EUR150 million from two successive
equity injections (in November 2012 and October 2013) from the
French Public Investment Bank (BPI; Banque Publique
d'Investissement). Of this amount, S&P treats EUR50 million as
surplus cash, as it anticipates that Paprec will allocate the
remaining portion to capital spending and further acquisitions.
S&P takes a positive view of Paprec's cash interest coverage of
about 3x and credit metrics at the better end of the range for its
"highly leveraged" financial risk profile assessment.
Although it is neutral to the rating, S&P's assessment of the
financial policy is supported by the group's family ownership,
reinforced by the recent entrance of BPI as a strategic investor.
S&P also views the company's management team as experienced with a
clear strategic growth plan.
The rating on Paprec incorporates an upward adjustment of one
notch under S&P's comparable rating analysis, reflecting its
opinion of its credit characteristics in aggregate relative to
peers; specifically owing to its leverage and interest coverage
ratios.
The stable outlook reflects S&P's view that Paprec's EBITDA will
gradually improve in 2015 with further contributions from the
acquisitions Paprec undertook last year. S&P assumes that EBITDA
margins will remain resilient at more than 12%, given the
company's initiatives over the past three to four years to
strengthen capacity and secure satisfactory national coverage.
S&P's base-case scenario assumes adjusted total debt to EBITDA
maintained at about 5x and cash interest coverage sustainably in
excess of 2.5x.
S&P could consider a negative rating action if the acquisitions
undertaken during 2014 do not translate into profitable growth.
In addition, if Paprec were to deliver materially negative free
operating cash flow as a result of acquisitions or capital
spending to further enhance its asset base, or if the EBITDA
margin were to significantly deteriorate to below average levels,
S&P could also take a negative rating action. This could arise if
macroeconomic conditions in France were worse than anticipated,
leading to a sharp correction in the growth of waste volumes.
As S&P do not anticipate a substantial deleveraging of the
company's balance sheet over the next 12-18 months, the potential
for a positive rating action is remote. That said, it could
materialize if EBITDA generation was greater than anticipated,
leading to total debt to EBITDA below 4x and FFO to debt
comfortably above 12%.
=============
G E R M A N Y
=============
SMART SME 2006-1: Fitch Affirms 'CCsf' Rating on Class E Notes
--------------------------------------------------------------
Fitch Ratings has affirmed SMART SME CLO 2006-1 Ltd's EUR19.9
million class E notes (ISIN: XS0276640835) at 'CCsf' and revised
the Recovery Estimate (RE) to 40% from 25%.
The transaction is a partially funded synthetic collateralized
debt obligation (CDO) referencing a portfolio of loans, revolving
credit facilities and other payment claims to SMEs based
originally predominantly in Germany, but now mostly in Spain. The
debt instruments were originated by Deutsche Bank AG
(A/Negative/F1) and its Spanish and Italian subsidiaries.
KEY RATING DRIVERS
The affirmation reflects Fitch's view that default is probable.
At scheduled maturity in December 2013, all performing loans were
removed from the loan portfolio in line with the transaction
documentation. The current portfolio of EUR136.7 million
consequently only contains defaulted or impaired assets. After the
removal and further liquidations the portfolio is heavily
concentrated. 43 obligor groups representing 0.5% or more of the
portfolio balance make up 88% of the pool and the top three
industries -- mainly real estate -- account for 78% of the pool.
Spanish borrowers represent 89% of the exposure. The percentage
of assets with a Fitch equivalent rating of 'D' is 99%.
Fitch expects portfolio losses to be in excess of the still
available first loss threshold amount of EUR33.2 million, if
realized before legal final maturity. Losses exceeding this
amount will be absorbed by the notes in reverse order, starting
with the class F notes. Given that the work-out period is until
December 2016 we expect recoveries to still be able to partially
repay the class E notes. The increase in the RE reflects that
liquidations on a material amount of credit events have been
undertaken and are expected to continue.
If an asset's work-out process is not completed at legal final
maturity in December 2016, then a loss of zero will be applied and
the defaulted loan will be paid back with 100%. However, Fitch
assumes that all outstanding credit events will be settled prior
to the legal final maturity.
REs are forward-looking, taking into account Fitch's expectations
for principal repayments on distressed structured finance
securities rated 'CCCsf' or below.
RATING SENSITIVITIES
After scheduled maturity, the transaction is primarily sensitive
to recoveries from defaulted agreements.
===========
G R E E C E
===========
GREECE: Seeks Urgent Bailout Deal; Rules Out Capital Controls
-------------------------------------------------------------
Nektaria Stamouli at The Wall Street Journal reports that the
Greek government has the responsibility to repay its obligations
both internally and to its international creditors, but a deal
with its international creditors is needed as quick as possible.
"There is a compelling need for Greece and it is international
creditors to reach a deal," The Journal quotes Gabriel
Sakellaridis as saying. He added that the government aims to have
a deal by the beginning of June, The Journal relates.
"To the point we are in the position to pay our obligations, we
will pay our obligations. It's the government's responsibility to
be in a position to pay its obligations."
His comments come after Interior Minister Nikos Voutsis said on
May 24 that the government won't have the money it is due to repay
to the International Monetary Fund next month unless it strikes a
deal with international creditors over further rescue funding, The
Journal notes.
Mr. Voutsis told privately owned television station Mega that
Greece is scheduled to repay EUR1.6 billion (US$1.76 billion) to
the IMF between June 5 to 19, but the payments cannot be met, The
Journal recounts. "This money won't be given," Mr. Voutsis, as
cited by The Journal, said. "It doesn't exist."
Mr. Sakellaridis, the spokesman, said the government isn't
considering bundling all the payments the government has to make
to the IMF in one payment at the end of the month, The Journal
relays.
According to The Journal, he added that this option hasn't been
proposed by the any of the institutions overseeing the country's
austerity program.
Compromise
According to Bloomberg News' Marcus Bensasson, Greece called on
the country's creditors to compromise on demands to break an
impasse over the release of funds for its cash-strapped economy as
a deadline neared for payments due next month to the International
Monetary Fund.
A day after Prime Minister Alexis Tsipras said Greece can't absorb
any more austerity measures, Finance Minister Yanis Varoufakis
said his government has met the euro area and IMF three-quarters
of the way so it's up to creditors to cover the remainder,
Bloomberg relates.
As time runs short, the Greek government has to pay monthly
salaries and pensions by May 29 and repay about EUR300 million
(US$329 million) to the IMF a week later, Bloomberg discloses.
German Finance Minister Wolfgang Schaeuble, meanwhile, signaled
there isn't much wiggle room after Mr. Tsipras's government
committed to policy changes in return for aid in a Feb. 20
euro-area accord, Bloomberg notes.
"That is the condition for completing the current program,"
Mr. Schaeuble, as cited by Bloomberg, said in a Deutschlandfunk
radio interview aired on May 24. "The problems are rooted in
Greece. And now Greece does have to fulfill its commitments."
Capital Controls
Meanwhile, Irish Examiner reports that Greece's government has
ruled out restricting access to bank accounts and the free
movement of money if there is no breakthrough soon in tortuous
talks with bailout creditors and its dwindling cash reserves dry
up.
According to Irish Examiner, Gabriel Sakellaridis, spokesman for
the radical left-led government, said the possibility of imposing
capital controls -- part of a chain of events that could lead to
Greece leaving the euro if things take a disastrous turn --
"simply does not exist".
He spoke after a senior opposition conservative politician was
quoted as saying capital controls could be imposed this coming
long weekend -- June 1 is the Orthodox Pentecost holiday -- or
shortly after if the government is unable to make a loan repayment
due to the International Monetary Fund on June 5, Irish Examiner
relates.
Experts say Greece could eventually have to impose capital
controls to prevent a bank run, when depositors flock to bank
branches and ATMs to withdraw their savings, Irish Examiner
discloses. An estimated EUR30 billion have already flowed out of
Greek banks since elections were called late last year, but a more
sudden surge in withdrawals would cause the banks to collapse,
Irish Examiner notes.
Such a panic could be triggered by the country -- which is already
scraping together its last cash reserves -- failing to make a
payment to the IMF, or any other creditor, or being unable to
fully pay pensions and public sector salaries, Irish Examiner
states.
=============
H U N G A R Y
=============
HUNGARY: Fitch Revises Outlook on 'BB+' IDR to Positive
-------------------------------------------------------
Fitch Ratings has revised the Outlook on Hungary's Long-term
foreign and local currency Issuer Default Ratings (IDR) to
Positive from Stable and affirmed the IDRs at 'BB+' and 'BBB-'
respectively. The issue ratings on Hungary's senior unsecured
foreign and local currency bonds have also been affirmed at 'BB+'
and 'BBB-' respectively. The Country Ceiling has been affirmed at
'BBB' and the Short-term foreign currency IDR at 'B'.
KEY RATING DRIVERS
The revision of the Outlook to Positive reflects the following key
rating drivers and their relative weights:
MEDIUM
Hungary's external metrics have markedly improved. Since 2010,
Hungary has recorded high current account surpluses, at 4.2% of
GDP in 2014, reflecting strong goods and services exports
following industrial expansion and lower external interest
payments linked to external debt deleveraging. Banks' external
debt has materially reduced, at 20% of GDP at end-2014 from a peak
of 39% of GDP in 2008. Net external debt is still high, but
declining rapidly as a result, at 56% of GDP in 2014 from 90% in
2009.
The general government deficit was 2.6% of GDP in 2014, a stronger
than expected outcome in the context of an election year. Fitch
forecasts the deficit to remain in the range of 2.0%-2.5% in the
medium term as tax cuts are offset by cyclical improvement. This
would support a continued slow decline in government debt from the
current high level (76.9% of GDP). Fitch expects debt will reach
75.2% of GDP by 2016 and 66.1% by 2022.
Real GDP accelerated to 3.6% in 2014 from 1.5% in 2013, driven by
domestic demand. The decline in unemployment to 7.8% in March 2015
from 8.3% a year ago, and low inflation, supported consumption.
Investment benefited from exceptional European Union (EU) fund
disbursement. Fitch expects growth will slow to 2.9% in 2015 and
2.3% in 2016 due to slower disbursement of EU fund as the new
2014-2020 cycle starts only gradually.
The cut in the bank tax contained in the draft budget for 2016
submitted to Parliament signals the government's intention to
achieve a gradual normalization of the banking business
environment, in line with the agreement signed with the European
Bank for Reconstruction and Development (EBRD) in early 2015.
Although regaining market credibility is going to take some time,
Fitch sees this development as potentially positive for the
rating. Meanwhile, the conversion of the large stock of FX
mortgage loans (equivalent to 12% of GDP) has considerably reduced
households' exposure to exchange rate volatility.
Hungary's 'BB+' IDRs also reflect the following key rating
drivers:
Hungary's GDP per capita and governance indicators are higher than
the 'BB' and 'BBB' medians because of its greater economic
development and integration with Western Europe.
Banks have been weakened by a high level of NPLs (impaired loans
over 90 days past due accounted for 13.3% of total loans at end-
2014 from 14.1% in 2013, 14.6% for FX loans, 11.6% for HUF loans)
and adverse policy decisions. Total lending to the private sector
contracted by 1% in nominal terms in 2014 (+0.6% for HUF loans, -
1.7% for FX loans) and Fitch does not expect it to recover by
2016.
RATING SENSITIVITIES
The main factors that could lead to an upgrade are:
-- Greater policy stability and predictability along with an
improved business environment, for example resulting in
stable and predictable framework for the banking sector.
-- Continued, sustained reduction in external indebtedness
supported by current account surpluses.
-- Reduction in the public debt ratio.
The rating Outlook is Positive. Consequently, Fitch's sensitivity
analysis does not currently anticipate developments with a
material likelihood of leading to a downgrade. However,
relaxation in the fiscal stance and/or policy missteps leading to
higher macro-financial risks, including crystallization of
contingent liabilities, would be rating negative.
KEY ASSUMPTIONS
Fitch assumes the Hungarian authorities will maintain fiscal
discipline, broadly in line with the targets included in the
Convergence Programme submitted to the EU in April 2015.
Fitch assumes that under severe financial stress, support for
Hungarian subsidiary banks would come first and foremost from
their foreign parent banks.
=============
I R E L A N D
=============
BACCHUS 2006-2: S&P Affirms 'CCC+' Rating on Class E Notes
----------------------------------------------------------
Standard & Poor's Ratings Services raised its credit ratings on
BACCHUS 2006-2 PLC's class B and C notes. At the same time, S&P
has affirmed its ratings on the class D and E notes.
The rating actions follow S&P's assessment of the transaction's
performance using data from the March 31, 2015 trustee report and
the application of S&P's relevant criteria.
"We subjected the capital structure to a cash flow analysis to
determine the break-even default rate (BDR) for each rated class
at each rating level. The BDR represents our estimate of the
maximum level of gross defaults, based on our stress assumptions,
that a tranche can withstand and still fully repay the
noteholders. In our analysis, we used the portfolio balance that
we consider to be performing (EUR83,712,422), the current and
covenanted weighted-average spreads (3.98% and 2.80%,
respectively), and the weighted-average recovery rates calculated
in line with our corporate collateralized debt obligation (CDO)
criteria. We applied various cash flow stresses, using our
standard default patterns, in conjunction with different interest
rate stress scenarios," S&P said.
Since S&P's Aug. 13, 2014 review, the aggregate collateral balance
has decreased by 48.67% to EUR83.71 million from EUR163.09
million.
The class A-1, A-2A, and A-2B notes have fully paid down and the
class B notes have amortized by EUR11.1 million since S&P's
previous review. In S&P's view, this has increased the available
credit enhancement for all rated classes of notes. The weighted-
average spread and the coverage tests have also improved, while
the concentration of defaulted assets has decreased since S&P's
previous review.
BACCHUS 2006-2's portfolio is concentrated and comprises 20
performing obligors, compared to 31 in S&P's previous review. The
largest obligor's assets represent almost 10% of the aggregate
collateral balance and the largest five obligors comprise almost
46% of the total pool of performing assets.
Non-euro-denominated assets comprise 3.94% of the aggregate
collateral balance. A cross-currency swap agreement hedges these
assets. In S&P's cash flow analysis, it considered scenarios
where the hedging counterparty does not perform, and where the
transaction is therefore exposed to changes in currency rates.
Taking into account the results of its credit and cash flow
analysis and the application of its current counterparty criteria
and its non-sovereign ratings criteria, S&P considers that the
available credit enhancement for the class B and C notes is
commensurate with higher ratings than those previously assigned.
S&P has therefore raised to 'AAA (sf)' from 'A+ (sf)' its rating
on the class B notes, and to 'A+ (sf)' from 'BBB+ (sf)' its rating
on the class C notes.
S&P's ratings on the class D and E notes are constrained by the
application of the largest obligor default test, a supplemental
stress test that S&P introduced in its corporate CDO criteria.
S&P has therefore affirmed its ratings on these classes of notes.
BACCHUS 2006-2 is a cash flow collateralized loan obligation (CLO)
transaction that securitizes loans to primarily speculative-grade
corporate firms. The transaction closed in August 2006 and its
reinvestment period ended in August 2012. IKB Deutsche
Industriebank AG is the transaction manager.
RATINGS LIST
Class Rating Rating
To From
BACCHUS 2006-2 PLC
EUR491.21 Million Senior Secured and Deferrable Floating-Rate
Notes
Ratings Raised
B AAA (sf) A+ (sf)
C A+ (sf) BBB+ (sf)
Ratings Affirmed
D B+ (sf)
E CCC+ (sf)
CVC CORDATUS V: Moody's Rates EUR15.15MM Class F Notes 'B2'
-----------------------------------------------------------
Moody's Investors Service assigned the following definitive
ratings to notes issued by CVC Cordatus Loan Fund V Limited:
-- EUR264,735,000 Class A-1 Senior Secured Floating Rate Notes
due 2029, Definitive Rating Assigned Aaa (sf)
-- EUR5,265,000 Class A-2 Senior Secured Fixed Rate Notes due
2029, Definitive Rating Assigned Aaa (sf)
-- EUR36,865,000 Class B-1 Senior Secured Floating Rate Notes
due 2029, Definitive Rating Assigned Aa2 (sf)
-- EUR12,635,000 Class B-2 Senior Secured Fixed Rate Notes due
2029, Definitive Rating Assigned Aa2 (sf)
-- EUR27,000,000 Class C Senior Secured Deferrable Floating
Rate Notes due 2029, Definitive Rating Assigned A2 (sf)
-- EUR25,250,000 Class D Senior Secured Deferrable Floating
Rate Notes due 2029, Definitive Rating Assigned Baa3 (sf)
-- EUR28,750,000 Class E Senior Secured Deferrable Floating
Rate Notes due 2029, Definitive Rating Assigned Ba2 (sf)
-- EUR15,150,000 Class F Senior Secured Deferrable Floating
Rate Notes due 2029, Definitive Rating Assigned B2 (sf)
Moody's rating of the rated notes addresses the expected loss
posed to noteholders by legal final maturity of the notes in July
2029. The ratings reflect the risks due to defaults on the
underlying portfolio of loans given the characteristics and
eligibility criteria of the constituent assets, the relevant
portfolio tests and covenants as well as the transaction's capital
and legal structure. Furthermore, Moody's is of the opinion that
the collateral manager, CVC Credit Partners Group Limited ("CVC"),
has sufficient experience and operational capacity and is capable
of managing this CLO.
CVC Cordatus Loan Fund V Limited is a managed cash flow CLO. At
least 90% of the portfolio must consist of senior secured
obligations and up to 10% of the portfolio may consist of senior
unsecured obligations, second-lien loans, mezzanine obligations
and high yield bonds. The portfolio is expected to be 60-65%
ramped up as of the closing date and to be comprised predominantly
of corporate loans to obligors domiciled in Western Europe. The
remainder of the portfolio will be acquired during the six month
ramp-up period in compliance with the portfolio guidelines.
CVC will manage the CLO. It will direct the selection, acquisition
and disposition of collateral on behalf of the Issuer and may
engage in trading activity, including discretionary trading,
during the transaction's four-year reinvestment period.
Thereafter, purchases are permitted using principal proceeds from
unscheduled principal payments and proceeds from sales of credit
risk obligations or credit improved obligations, and are subject
to certain restrictions.
In addition to the eight classes of notes rated by Moody's, the
Issuer will issue EUR 47,800,000 of subordinated notes which are
not rated.
The transaction incorporates interest and par coverage tests
which, if triggered, divert interest and principal proceeds to pay
down the notes in order of seniority.
Moody's modeled the transaction using CDOEdge, a cash flow model
based on the Binomial Expansion Technique, as described in Section
2.3 of the "Moody's Global Approach to Rating Collateralized Loan
Obligations" rating methodology published in February 2014. The
cash flow model evaluates all default scenarios that are then
weighted considering the probabilities of the binomial
distribution assumed for the portfolio default rate. In each
default scenario, the corresponding loss for each class of notes
is calculated given the incoming cash flows from the assets and
the outgoing payments to third parties and noteholders. Therefore,
the expected loss or EL for each tranche is the sum product of (i)
the probability of occurrence of each default scenario and (ii)
the loss derived from the cash flow model in each default scenario
for each tranche.
Moody's used the following base-case modeling assumptions:
- Par Amount: EUR450,000,000
- Diversity Score: 35
- Weighted Average Rating Factor (WARF): 2750
- Weighted Average Spread (WAS): 4.10%
- Weighted Average Coupon (WAC): 5.50%
- Weighted Average Recovery Rate (WARR): 40.00%
- Weighted Average Life (WAL): 8 years
Together with the set of modelling assumptions above, Moody's
conducted an additional sensitivity analysis, which was an
important component in determining the definitive rating assigned
to the rated notes. This sensitivity analysis includes increased
default probability relative to the base case. Below is a summary
of the impact of an increase in default probability (expressed in
terms of WARF level) on each of the rated notes (shown in terms of
the number of notch difference versus the current model output,
whereby a negative difference corresponds to higher expected
losses), holding all other factors equal.
Percentage Change in WARF: WARF + 15% (to 3163 from 2750)
Ratings Impact in Rating Notches:
- Class A-1 Senior Secured Floating Rate Notes: 0
- Class A-2 Senior Secured Fixed Rate Notes: 0
- Class B-1 Senior Secured Floating Rate Notes: -2
- Class B-2 Senior Secured Fixed Rate Notes: -2
- Class C Senior Secured Deferrable Floating Rate Notes:-2
- Class D Senior Secured Deferrable Floating Rate Notes: -1
- Class E Senior Secured Deferrable Floating Rate Notes: -1
- Class F Senior Secured Deferrable Floating Rate Notes: 0
Percentage Change in WARF: WARF +30% (to 3575 from 2750)
- Class A-1 Senior Secured Floating Rate Notes: -1
- Class A-2 Senior Secured Fixed Rate Notes: -1
- Class B-1 Senior Secured Floating Rate Notes: -3
- Class B-2 Senior Secured Fixed Rate Notes: -3
- Class C Senior Secured Deferrable Floating Rate Notes:-4
- Class D Senior Secured Deferrable Floating Rate Notes: -2
- Class E Senior Secured Deferrable Floating Rate Notes: -2
- Class F Senior Secured Deferrable Floating Rate Notes: -2
The principal methodology used in this rating was "Moody's Global
Approach to Rating Collateralized Loan Obligations" published in
February 2014.
The rated notes' performance is subject to uncertainty. The notes'
performance is sensitive to the performance of the underlying
portfolio, which in turn depends on economic and credit conditions
that may change. CVC's investment decisions and management of the
transaction will also affect the notes' performance.
CVC CORDATUS V: Fitch Assigns 'B-sf' Rating to Class F Notes
------------------------------------------------------------
Fitch Ratings has assigned CVC Cordatus Loan Fund V Limited notes
final ratings, as follows:
Class A-1: 'AAAsf'; Outlook Stable
Class A-1: 'AAAsf'; Outlook Stable
Class B-1: 'AAsf'; Outlook Stable
Class B-2: 'AAsf'; Outlook Stable
Class C: 'Asf'; Outlook Stable
Class D: 'BBBsf'; Outlook Stable
Class E: 'BBsf'; Outlook Stable
Class F: 'B-sf'; Outlook Stable
Subordinated notes: not rated
CVC Cordatus Loan Fund V Limited is an arbitrage cash flow
collateralized loan obligation (CLO).
KEY RATING DRIVERS
Average Portfolio Credit Quality
Fitch expects the average credit quality of obligors to be in the
'B' category. Fitch has credit opinions on all obligors in the
indicative portfolio. The covenanted minimum Fitch weighted
average rating factor (WARF) for assigning expected ratings is
34.0. The WARF of the identified portfolio is 33.8.
High Recovery Expectation
At least 90% of the portfolio comprises senior secured
obligations. Fitch views the recovery prospects for these assets
as more favorable than for second-lien, unsecured and mezzanine
assets. Fitch has assigned Recovery Ratings to all of the assets
in the identified portfolio. The covenanted minimum weighted
average recovery rate (WARR) for assigning expected ratings is
66.0%. The WARR of the identified portfolio is 67.4%.
Unhedged Non-euro Assets Exposure
The transaction is allowed to invest up to 2.5% of the portfolio
in non-euro-denominated assets. Unhedged non-euro assets are
limited to a maximum exposure of 2.5% of the portfolio subject to
principal haircuts. The manager can only invest in unhedged assets
if, after the applicable haircuts, the aggregate balance of the
assets is above the reinvestment target par balance.
Partial Interest Rate Hedge
Between 0% and 10% of the portfolio can be invested in fixed rate
assets, while fixed rate liabilities account for 3.8%. Therefore,
the transaction is partially hedged against rising interest rates.
TRANSACTION SUMMARY
Net proceeds from the notes will be used to purchase a EUR450m
portfolio of European leveraged loans. The portfolio will be
managed by CVC Credit Partners Group Limited. The transaction will
have a four year re-investment period scheduled to end in 2019.
The transaction documents may be amended subject to rating agency
confirmation or noteholder approval. Where rating agency
confirmation relates to risk factors, Fitch will analyse the
proposed change and may provide a rating action commentary if the
change has a negative impact on the ratings. Such amendments may
delay the repayment of the notes as long as Fitch's analysis
confirms the expected repayment of principal at the legal final
maturity.
If in the agency's opinion the amendment is risk-neutral from a
rating perspective Fitch may decline to comment. Noteholders
should be aware that confirmation is considered to be given if
Fitch declines to comment.
DELTA CDO 2005-1: Fitch Cuts Ratings on 8 Tranches to 'Dsf'
-----------------------------------------------------------
Fitch Ratings has downgraded eight and affirmed three tranches of
four European structured finance collateral debt obligations (SF
CDOs). Simultaneously, the agency has withdrawn the ratings of 10
tranches.
The transactions are synthetic securitizations of portfolios of
exposures to European and North American structured finance
securities.
KEY RATING DRIVERS
The downgrades reflect principal writedowns on the affected
tranches. The tranches were highly distressed prior to the
writedowns and Fitch considered a default inevitable.
Fitch is withdrawing the ratings of Delta CDO plc Series 2005-1,
Delta CDO plc Series 2005-2, and Tempo CDO I Limited as all rated
notes issued by these transactions have defaulted. Accordingly,
Fitch will no longer provide ratings or analytical coverage for
Delta CDO plc Series 2005-1, Delta CDO plc Series 2005-2, and
Tempo CDO I Limited.
RATING SENSITIVITIES
No rating sensitivity analysis was performed as the affected
tranches are already rated 'Dsf'.
The rating actions are:
Delta CDO Series plc 2005-1
Class B (ISIN XS0218111739): downgraded to 'Dsf' from 'Csf';
rating withdrawn
Class C (ISIN XS0218113198): downgraded to 'Dsf' from 'Csf';
rating withdrawn
Class D (ISIN XS0218113602): downgraded to 'Dsf' from 'Csf';
rating withdrawn
Delta CDO plc Series 2005-2
Class B-1 (ISIN US24741NAD57): downgraded to 'Dsf' from 'Csf';
rating withdrawn
Class C-1 (ISIN US24741NAE31): downgraded to 'Dsf' from 'Csf';
rating withdrawn
Class E-1 (ISIN US24741NAG88): downgraded to 'Dsf' from 'Csf';
rating withdrawn
High Tide CDO I S.A.
Class C (ISIN XS0169669248): downgraded to 'Dsf' from 'Csf'
Tempo CDO 1 Ltd
Class A (ISIN XS0179909774): downgraded to 'Dsf' from 'Csf';
rating withdrawn
Class B (ISIN XS0179909931): affirmed at 'Dsf'; rating withdrawn
Class C (ISIN XS0179910517): affirmed at 'Dsf'; rating withdrawn
Class D (ISIN XS0179910780): affirmed at 'Dsf'; rating withdrawn
IRISH BANK: Quinns Can Proceed with Claims in Loan Dispute
----------------------------------------------------------
The Irish Times reports that a High Court judge has permitted the
family of businessman Sean Quinn to proceed with claims in their
forthcoming legal action that some EUR2.34 billion loans by Anglo
Irish Bank to various Quinn companies were made for the unlawful
purpose of propping up the bank's share price.
According to The Irish Times, Mr. Justice Robert Haughton ruled
the Quinns cannot continue to pursue those aspects of their claim
alleging the loans are unenforceable.
He was making final directions concerning management of the
hearing, due to open on June 3, of the action by Mrs. Patricia
Quinn and her five adult children aimed at avoiding liability for
the EUR2.34 billion loans, The Irish Times discloses.
The judge was told the family do not intend to appeal his ruling
last week preventing them amending their claim to include a claim
they were innocent parties to the loan transactions with the
effect, they argued, the loans could not be enforced against them,
The Irish Times relates.
The family's case, initiated in May 2011, is expected to last more
than six months and has been brought against Irish Bank Resolution
Corporation and its special liquidator Kieran Wallace, The Irish
Times notes.
The Quinns dispute the validity of share pledges and guarantees
provided as security for loans made by the former Anglo Irish Bank
to Quinn companies, The Irish Times relays. Those loans, the
Quinns claim, were made for the unlawful purpose of propping up
the bank's plummeting share price, The Irish Times states.
On May 20, the judge refused the bank's application to have
deleted from the Quinns' claim those sections alleging the loans
were unlawfully made but he directed that those parts of the claim
alleging the loans were unenforceable could be deleted.
The bank's application arose following a Supreme Court decision
last March that, even when made for unlawful purposes, loans could
still be enforceable, The Irish Times notes.
Also on May 20, Shane Murphy SC, for IBRC, said his side intended
to bring a motion during next month's hearing against Sean Quinn
Sr. seeking judgment against him in this case, The Irish Times
recounts.
About Irish Bank Resolution
Irish Bank Resolution Corp., the liquidation vehicle for what was
once one of Ireland's largest banks, filed a Chapter 15 petition
(Bankr. D. Del. Case No. 13-12159) on Aug. 26, 2013, to protect
U.S. assets of the former Anglo Irish Bank Corp. from being
seized by creditors. Irish Bank Resolution sought assistance
from the U.S. court in liquidating Anglo Irish Bank Corp. and
Irish Nationwide Building Society. The two banks failed and were
merged into IBRC in July 2011. IBRC is tasked with winding them
down and liquidating their assets. In February, when Irish
lawmakers adopted the Irish Bank Resolution Corp., IBRC was
placed into a special liquidation in the Irish High Court to
complete liquidation and distribution of the two banks' assets.
IBRC's principal asset as of June 2012 was a loan portfolio
valued at some EUR25 billion (US$33.5 billion). About 70 percent
of the loans were to Irish borrowers. Some 5 percent of the
portfolio was under U.S. law, according to a court filing. Total
liabilities in June 2012 were about EUR50 billion, according
to a court filing.
Most assets in the U.S. have been sold already. IBRC is involved
in lawsuits in the U.S.
IBRC was granted protection under Chapter 15 of the U.S.
Bankruptcy Code in December 2013.
Kieran Wallace and Eamonn Richardson of KPMG have been named the
special liquidators.
About Anglo Irish
Anglo Irish Bank was an Irish bank headquartered in Dublin from
1964 to 2011. It went into wind-down mode after nationalization
in 2009. In July 2011, Anglo Irish merged with the Irish
Nationwide Building Society, with the new company being named the
Irish Bank Resolution Corporation (IBRC).
Standard & Poor's Ratings Services said that it lowered its long-
and short-term counterparty credit ratings on Irish Bank
Resolution Corp. Ltd. (IBRC) to 'D/D' from 'B-/C'. S&P also
lowered the senior unsecured ratings to 'D' from 'B-'. S&P then
withdrew the counterparty credit ratings, the senior unsecured
ratings, and the preferred stock ratings on IBRC. At the same
time, S&P affirmed its 'BBB+' issue rating on three government-
guaranteed debt issues.
The rating actions follow the Feb. 6, 2013, announcement that the
Irish government has liquidated IBRC.
The former Irish bank sought protection from creditors under
Chapter 15 of the U.S. Bankruptcy Code on Aug. 26, 2013 (Bankr.
D. Del., Case No. 13-12159). The former bank's Foreign
Representatives are Kieran Wallace and Eamonn Richardson. Its
U.S. bankruptcy counsel are Mark D. Collins, Esq., and Jason M.
Madron, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware.
TAURUS CMBS 2007-1: S&P Lowers Rating on Class B Notes to 'D'
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its credit ratings on
Taurus CMBS (Pan-Europe) 2007-1 Ltd.'s class A1, A2, and B notes.
At the same time, S&P has affirmed its 'D (sf)' ratings on the
class C, D, E, and F notes.
On the May 2015 interest payment date (IPD), all classes of notes
experienced interest shortfalls. The transaction continues to
experience cash flow disruptions, primarily due to high prior
ranking transaction costs, which, together with spread compression
between the loan and the notes, have resulted in insufficient
funds to meet all interest payments due to the notes.
S&P believes that, absent of recoveries, this transaction will
likely remain vulnerable to future interest shortfalls due to the
above described factors that reduce the issuer's ability to pay
timely interest.
S&P's ratings in Taurus CMBS (Pan-Europe) 2007-1 address the
timely payment of interest and the repayment of principal no later
than at legal final maturity in February 2020.
Following the issuer's failure to pay full interest due on the
class A1 notes on the May 2015 IPD, the creditworthiness of these
notes has deteriorated.
In line with S&P's imputed promises criteria, it has not lowered
its rating on the class A1 notes to 'D (sf)' because it believes
that the shortfall could be fully repaid from recoveries before
the legal final maturity date. However, in line with S&P's credit
stability criteria, it has lowered to 'B (sf)' from 'BB (sf)' its
rating on the class A1 notes to reflect the risk of a payment
default if the shortfall persists over the coming quarters.
The class A2 notes have also experienced interest shortfalls. In
accordance with S&P's imputed promises criteria, it has not
lowered its rating on this class to 'D (sf)' because S&P's
analysis shows that the shortfall could be fully repaid from
recoveries before the legal final maturity date. However, S&P has
lowered to 'CCC (sf)' from 'B (sf)' its rating in line with its
criteria for assigning 'CCC' category ratings, to reflect the
higher risk of payment default (see "Criteria For Assigning
'CCC+', 'CCC', 'CCC-', And 'CC' Ratings," published on Oct. 1,
2012). S&P believes that the repayment of this class of notes is
dependent upon favorable business, financial, or economic
conditions.
S&P also believes this class of notes faces at least a one-in-two
likelihood of default.
The class B notes have experienced interest shortfalls, which are
likely to continue in future quarters, in S&P's opinion.
Furthermore, this class of notes is vulnerable to principal losses
in S&P's 'B' rating stress scenario. S&P has therefore lowered to
'D (sf)' from 'CCC+ (sf)' its rating on the class B notes in line
with its "Timeliness Of Payments: Grace Periods, Guarantees, And
Use Of 'D' And 'SD' Ratings" criteria, published on Oct. 24, 2013.
S&P has also affirmed its 'D (sf)' ratings on the class C, D, E,
and F notes. These classes of notes have experienced continued
interest shortfalls. The class E notes have a non-accruing
interest (NAI) amount of EUR74,000 allocated to them and the class
F notes have NAI amounts fully allocated to them.
Taurus CMBS (Pan-Europe) 2007-1 is a pan-European conduit
transaction that closed in August 2007. Initially backed by 13
loans, the transaction is now backed by three loans secured on 30
commercial properties in Germany and France.
RATINGS LIST
Taurus CMBS (Pan-Europe) 2007-1 Ltd.
CHF.1 mil, EUR549.95 mil commercial mortgage-backed floating-rate
notes
Rating Rating
Class Identifier To From
A1 XS0305732181 B (sf) BB (sf)
A2 XS0309194248 CCC (sf) B (sf)
B XS0305744608 D (sf) CCC+ (sf)
C XS0305745597 D (sf) D (sf)
D XS0305746215 D (sf) D (sf)
E XS0309195567 D (sf) D (sf)
F XS0309195997 D (sf) D (sf)
===================
L U X E M B O U R G
===================
ALTICE SA: Moody's Puts 'B1' CFR Under Review for Downgrade
-----------------------------------------------------------
Moody's Investors Service placed the B1 Corporate Family Rating
and the B1-PD Probability of Default Rating of Altice S.A. and the
B1 CFR/B1-PD PDR ratings of Altice International S.a.r.l. its
subsidiary under review for downgrade. The B3 debt ratings of
senior notes at Altice, the B1 senior secured debt ratings at
Altice International's Altice Financing S.A. financing subsidiary
and the B3 senior notes ratings at Altice Finco S.A., another
financing vehicle of Altice International were also placed under
review for downgrade.
The rating actions follow the announcement that Altice has signed,
through its Altice US Holdings I S.a.r.l. and Altice US Holdings
II subsidiaries a binding agreement to purchase 70% of the equity
of Cequel Corporation for a purchase price that reflects an
enterprise value of around USD9 billion or around 10x the
company's LTM EBITDA. Cequel, which operates as "Suddenlink" is
the 7th largest cable operator in the US and is rated B1, under
review for downgrade by Moody's at the Cequel Communciations I LLC
intermediate holdco level. The transaction remains subject to
regulatory approval and completion is expected for the fourth
quarter of 2015. Funding for the transaction includes USD500
million in vendor financing, which Moody's regards as debt.
Initial post transaction leverage at Suddenlink will be very high
at around 8x Debt/EBITDA (as calculated by Moody's). However,
Moody's acknowledges that Altice's intention to designate
Suddenlink as an "unrestricted subsidiary" will limit, but not
completely eliminate potential support for the transaction from
within Altice's existing borrowing groups under existing
indentures.
The reviews for downgrades are triggered by the continued fast
pace of Altice's acquisition activity with the Suddenlink
acquisition announcement following Altice's acquisition of French
telecoms operator SFR, completed at the end of 2014 and Portugal's
national telecom operator, Portugal Telecom, expected to close by
the end of the current quarter and the attendant management,
coordination and integration risks as well as the company's stated
appetite for further large scale acquisitions.
Against this background, Moody's review will assess (i) the
further increased business and overall financial risks from the
company's continuous acquisition activity, (ii) risks from
entering a new market with different operational characteristics
from Altice's existing operations on a large scale, (iii) the
impact of the acquisition activity on expectations of deleveraging
that are factored into Moody's current ratings and on the group's
liquidity and (iv) the potential for Altice International to
participate in the funding of the Altice group's equity
contribution to the Suddenlink transaction, for which there is
some potential under existing indentures. The review will also
consider the benefits that further scale and scope and geographic
diversification could bring to Altice's business as well as sound
execution progress within existing operations reported with the
group's results for the first quarter of 2015.
Moody's had previously stated that Altice's ratings could be
downgraded if amongst other things the company's Debt/EBITDA ratio
(as defined by Moody's) is not maintained at or below 5.5x and
those of Altice International would come under downgrade pressure
if the ratio exceeds 5.0x or as a consequence of further material
acquisitions. As the ratings for Altice and Altice International
have been placed under review for downgrade, a near-term upgrade
of the CFR is unlikely to occur. That said, over time positive
pressure on Altice's ratings could develop, if company's leverage
were to fall to well below 4.5x (on a fully-consolidated basis) on
a sustainable basis combined with visible levels of free cash flow
generation. A leverage level sustained well below 4.0x and
evidence of visible levels of free cash flow generation could lead
to upgrade pressure on Altice International.
The principal methodology used in these ratings was Global Pay
Television - Cable and Direct-to-Home Satellite Operators
published in April 2013. Other methodologies used include Loss
Given Default for Speculative-Grade Non-Financial Companies in the
U.S., Canada and EMEA published in June 2009.
Altice S.A. is a Luxembourg-based holding company, which through
its subsidiaries Numericable-SFR S.A. and Altice International
S.a.r.l. operates a multinational telecommunications and cable
business. Numericable-SFR operates in France while Altice
International currently has a presence in four regions --
Dominican Republic, Israel, Western Europe and the French Overseas
Territories. The company is controlled indirectly by French
entrepreneur Patrick Drahi.
=====================
N E T H E R L A N D S
=====================
CADOGAN SQUARE VI: Fitch Rates Two Note Classes 'B-(EXP)sf'
-----------------------------------------------------------
Fitch Ratings has assigned Cadogan Square CLO VI B.V.'s notes
expected ratings as follows:
Class A-1: 'AAA(EXP)sf'; Outlook Stable
Class A-2: 'AAA(EXP)sf'; Outlook Stable
Class A-3: 'AAA(EXP)sf'; Outlook Stable
Class B-1: 'AA(EXP)sf'; Outlook Stable
Class B-2: 'AA(EXP)sf'; Outlook Stable
Class B-3: 'AA(EXP)sf'; Outlook Stable
Class C-1: 'A(EXP)sf'; Outlook Stable
Class C-2: 'A(EXP)sf'; Outlook Stable
Class D-1: 'BBB(EXP)sf'; Outlook Stable
Class D-2: 'BBB(EXP)sf'; Outlook Stable
Class E-1: 'BB(EXP)sf'; Outlook Stable
Class E-2: 'BB(EXP)sf'; Outlook Stable
Class F-1: 'B-(EXP)sf'; Outlook Stable
Class F-2: 'B-(EXP)sf'; Outlook Stable
Class M-1: not rated
Class M-2: not rated
The assignment of the final ratings is contingent on the receipt
of final documents conforming to information already reviewed.
Cadogan Square CLO VI B.V. is a cash flow collateralized loan
obligation (CLO).
KEY RATING DRIVERS
Unhedged FX Exposure
The manager may invest up to 10% in unhedged sterling obligations,
which are naturally hedged by 5% in sterling liabilities. It may
also invest up to 5% in unhedged and FX forward hedged non-euro
assets not denominated in sterling. The total amount of unhedged
and principal hedged obligations cannot be more than 10%. Unhedged
assets other than sterling may only be purchased if after a
haircut of 50%, the portfolio notional is still above target par.
Portfolio Credit Quality
Fitch has public ratings or credit opinions on 105 of the 109
obligors in the identified portfolio and expects the average
credit quality to be in the 'B' to 'B-' range. The weighted
average rating factor of the identified portfolio is 33.94.
High Expected Recoveries
At least 90% of the portfolio will comprise senior secured
obligations. Fitch has assigned Recovery Ratings to 105 of the 109
obligations. The weighted average recovery rating of the
identified portfolio is 71.1%.
Diversified Asset Portfolio
Unlike other post-crisis transactions, this deal contains a
covenant that limits the top 10 obligors in the portfolio to 20%
of the portfolio balance. This ensures that the asset portfolio
will not be exposed to excessive obligor concentration.
TRANSACTION SUMMARY
Cadogan Square CLO VI B.V. (the issuer) is a cash flow
collateralized loan obligation (CLO). Net proceeds from the
issuance of the notes will be used to purchase an equivalent
EUR400 million portfolio of either sterling- or euro-denominated
leveraged loans and bonds. The transaction features a four-year
reinvestment period and the portfolio will be managed by Credit
Suisse Asset Management Limited.
The transaction documents may be amended subject to rating agency
confirmation or noteholder approval. Where rating agency
confirmation relates to risk factors, Fitch will analyse the
proposed change and may provide a rating action commentary if the
change has a negative impact on the then current ratings. Such
amendments may delay the repayment of the notes as long as Fitch's
analysis confirms the expected repayment of principal at the legal
final maturity.
If in the agency's opinion the amendment is risk-neutral from a
rating perspective, Fitch may decline to comment. Noteholders
should be aware that the structure considers the confirmation to
be given if Fitch declines to comment.
RATING SENSITIVITIES
A 25% increase in the expected obligor default probability would
lead to a downgrade of one to three notches for the rated notes.
A 25% reduction in expected recovery rates would lead to a
downgrade of one to four notches for the rated notes.
CAIRN CLO V: Fitch Assigns 'B(EXP)sf' Rating to Class F Notes
-------------------------------------------------------------
Fitch Ratings has assigned Cairn CLO V B.V. expected ratings, as:
Class A: 'AAA(EXP)sf'; Outlook Stable
Class B-1: 'AA(EXP)sf'; Outlook Stable
Class B-2: 'AA(EXP)sf'; Outlook Stable
Class C: 'A(EXP)sf'; Outlook Stable
Class D: 'BBB(EXP)sf'; Outlook Stable
Class E: 'BB(EXP)sf'; Outlook Stable
Class F: 'B(EXP)sf'; Outlook Stable
Subordinated notes: not rated
The assignment of the final ratings is contingent on the receipt
of final documents conforming to information already reviewed.
Cairn CLO V B.V. is an arbitrage cash flow collateralized loan
obligation (CLO).
KEY RATING DRIVERS
'B'/'B-' Portfolio Credit Quality
Fitch places the average credit quality of obligors in the
'B'/'B-' range. The agency has public ratings or credit opinions
on 65 of the 67 assets in the identified portfolio. The Fitch
weighted average rating factor (WARF) of the identified portfolio
is 32.6, below the covenanted maximum for assigning the expected
ratings of 34.5.
High Recovery Expectations
The portfolio will comprise a minimum 90% of senior secured
obligations. Fitch has assigned Recovery Ratings to 65 of the 67
assets in the identified portfolio. The weighted average recovery
rate (WARR) of the identified portfolio is 68.6%, above the
covenanted minimum for assigning expected ratings of 68%.
Partial Interest Rate Hedge
Between 0% and 5% of the portfolio can be invested in fixed-rate
assets, while fixed-rate liabilities account for 2.3% of the
target par amount. At closing the issuer will enter into interest
rate caps to hedge the transaction against rising interest rate.
The notional of the caps is EUR10 million, representing 3.3% of
the target par amount, and the strike rate is fixed at 4%. The
caps will expire five years after the closing date.
Diversified Asset Portfolio
The transaction documents provide the investment manager with the
flexibility to choose different obligor concentration covenants
within the portfolio. The covenanted maximum exposure to the top
10 obligor for assigning the expected ratings is 20% of the
portfolio balance. This covenant ensures that the asset portfolio
will not be exposed to excessive obligor concentration. The
manager will then have the flexibility to trade obligor
concentration in the portfolio against credit quality (WARF and
WARR covenants) and excess spread (weighted average spread and
weighted average coupon covenants).
TRANSACTION SUMMARY
Net proceeds from the notes issue will be used to purchase a
EUR300m portfolio of mostly European leveraged loans and bonds.
The portfolio is managed by Cairn Loan Investments LLP. The
reinvestment period is scheduled to end in 2019.
The transaction documents may be amended subject to rating agency
confirmation or noteholder approval. Where rating agency
confirmation relates to risk factors, Fitch will analyze the
proposed change and may provide a rating action commentary if the
change has a negative impact on the ratings. Such amendments may
delay the repayment of the notes as long as Fitch's analysis
confirms the expected repayment of principal at the legal final
maturity.
If in the agency's opinion the amendment is risk-neutral from a
rating perspective Fitch may decline to comment. Noteholders
should be aware that confirmation is considered to be given if
Fitch declines to comment.
RATING SENSITIVITIES
A 25% increase in the obligor default probability would lead to a
downgrade of up to two notches for the rated notes. A 25%
reduction in expected recovery rates would lead to a downgrade of
up to four notches for the rated notes.
GBP: Wants Liquidation; Seeks Solution for Pensions Provision
-------------------------------------------------------------
Leen Preesman at Investment & Pensions Europe reports that GBP,
the EUR50 million industry-wide pension fund for the wholesale
flowers and plants sector in the Netherlands, has said it wants to
liquidate itself and is urgently seeking an alternative solution
for the pensions provision for its 6,500 participants.
Gerard Roest, employees' chairman, told IPE: "We are too small to
continue independently. Our administration costs of EUR285 are
too high and still rising."
An additional problem is that the EUR424 billion asset manager APG
unilaterally cancelled its contract at the end of 2014, as it
considered GBP too small, according to Mr. Roest, the report
notes.
As a consequence, GBP has temporarily placed its assets with a
money market fund at NN Investment Partners, "where it is risk-
free, indeed, but hardly generates a return either," the chairman
said, according to IPE.
Mr. Roest said the pension fund and social partners were looking
at the options, including joining an insurer or the new pensions
vehicle PPI, the report notes.
But Mr. Roest said the pension fund preferred joining a larger
industry-wide scheme, the report discloses.
So far, negotiations with other schemes have failed to produce a
result, mainly because they assessed the risk of taking in GBP as
too high, according to the chairman, the report says.
"As we are a non-mandatory scheme," he said, "we can't guarantee
that all our affiliated employers will join a new pension fund,"
the report quoted Mr. Roset as saying.
"As we don't have much financial margin to increase our premium,
joining another industry-wide scheme with a more expensive pension
plan is difficult," Mr. Roest said, the report notes.
GBP however is financially in good shape, according to the report.
According to the chairman, the official policy funding stood at
123%, and the pension fund had been able to grant indexation every
year so far, the report adds.
GBP, established in 2007, has an individual defined contribution
plan and a contribution of approximately 14% of the pensionable
salary.
===========
N O R W A Y
===========
PETROLEUM GEO-SERVICES: Moody's Cuts CFR to Ba3, Outlook Negative
-----------------------------------------------------------------
Moody's Investors Service downgraded Petroleum Geo-Services ASA's
corporate family rating to Ba3 from Ba2 and probability of default
rating to Ba3-PD from Ba2-PD. Concurrently, Moody's has also
downgraded the ratings on the senior notes and the senior secured
bank credit facilities to Ba3 from Ba2. The rating outlook remains
negative.
The rating action reflects Moody's expectations that the seismic
industry will remain weak for an extended period of time with
limited visibility around a potential recovery. Despite the
capacity reductions in the industry, Moody's expects the market to
remain oversupplied as oil companies scale back their exploration
spending following the sharp fall in oil prices.
Moody's expects bottom-of-cycle margins in contract seismic due to
further pricing pressures and low level of vessel active time
because of higher idle time and/or steaming time between two jobs.
In multi-client surveys, Moody's expects late sales to remain
difficult to predict as customers delay purchases while pre-
funding rate for new surveys should be in line with the company's
target level of 100% or above.
As a result, PGS's leverage as measured by Debt / EBITDA minus
multi-client amortization is expected to continue to rise in 2015
with limited visibility on deleveraging prospects in 2016. For the
last twelve months ending March 2015, PGS's leverage stood at
4.4x.
More positively, the Ba3 corporate family rating also incorporates
PGS's size and scale, its leading market position, its geographic
diversification, and its high quality fleet.
Additionally, PGS's rating reflects the company's strong balance
sheet and continuous prudent financial policies which have led to
a manageable debt maturity profile. PGS's liquidity profile is
adequate with, as of 31 March 2015, cash balance of approximately
USD148 million and USD410 million available under its RCF maturing
in 2018. Moody's expects the company to continue to generate
negative free cash flow in 2015 and 2016. Capital expenditures
will spike in 2016 due to the delivery of the last two Ramform
Titan-class vessels, which will be partially funded by committed
export credit facilities.
The negative outlook reflects the continued softening of market
conditions combined with the lack of visibility around an eventual
recovery.
A downgrade of the CFR could occur in the event of limited
improvement in operating performance, resulting in Moody's
expectation that leverage will remain sustainably over 5.0x and/or
weakening liquidity position.
The outlook could be stabilized following improvement in market
conditions and operating performance. Over time, the rating could
be upgraded if leverage falls towards 3.0x on a sustained basis
and the company maintains a solid liquidity profile. Any potential
upgrade would also include an assessment of market conditions.
The principal methodology used in these ratings was Global
Oilfield Services Industry Rating Methodology published in
December 2014. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.
Headquartered in Norway, Petroleum Geo-Services ASA is a
technologically leading oilfield services company specializing in
reservoir and geophysical services, including seismic data
acquisition, processing and interpretation, and field evaluation.
PGS maintains an extensive multi-client seismic data library. For
the year ended December 31, 2014, PGS reported revenues of $1.45
billion.
===========
P O L A N D
===========
GETIN NOBLE: Moody's Confirms 'Ba2' Long-Term Deposit Rating
------------------------------------------------------------
Moody's Investors Service has concluded its rating reviews on 10
banks in Poland. The reviews, initiated on March 17, 2015,
followed the introduction of the rating agency's revised bank
rating methodology published on March 16, 2015.
In light of the revised banking methodology, Moody's rating
actions generally reflect the following considerations (1) the
"Strong -" macro profile of Poland (A2 stable); (2) the banks'
adequate core financial ratios; (3) the protection offered to
senior creditors by substantial volumes of deposits, and in some
cases also by the subordination of some bail-in-able securities,
as captured by Moody's Advanced Loss Given Failure (LGF) liability
analysis; and (4) Moody's view of a decline in the likelihood of
government support for some institutions.
Among the rating actions that Moody's has taken on the Polish
banks are the following:
-- Seven long-term bank deposit ratings upgraded, one affirmed,
one confirmed and one downgraded
-- Four short-term bank deposit ratings upgraded, one affirmed
and one downgraded
-- One bank senior unsecured debt rating downgraded and one
confirmed
-- Three baseline credit assessments (BCAs) affirmed and two
lowered
Moody's has assigned stable outlooks to the deposit and debt
ratings of the affected banks, and changed to stable from negative
the outlook on the deposit ratings of Powszechna Kasa Oszczednosci
Bank Polski S.A.
Moody's has also assigned Counterparty Risk assessments to 11
Polish banks, in line with its revised bank rating methodology.
This includes Bank Polska Kasa Opieki S.A., whose ratings were not
on review.
A list of the affected credit ratings is available at
http://is.gd/9LbCdC
The new methodology includes several elements that Moody's has
developed to help accurately predict bank failures and determine
how each creditor class is likely to be treated when a bank fails
and enters resolution. These new elements capture insights gained
from the crisis and the fundamental shift in the banking industry
and its regulation.
(1) THE "STRONG -" MACRO PROFILE OF POLAND
Polish banks' operations are concentrated domestically, so they
benefit from Poland's supportive macroeconomic environment,
characterized by very high economic and institutional strength, as
well as moderate susceptibility to event risk.
(2) THE BANKS' ADEQUATE CORE FINANCIAL RATIOS
The Polish banks' BCAs (average asset-weighted BCA is baa3)
reflect their adequate core financial ratios, including a moderate
level of problem loans in aggregate, good capital ratios,
satisfactory profitability and good liquidity metrics. However,
the banks' BCAs range widely from baa1 to b1, with the differences
reflecting long-term execution of each bank's business plan, which
has resulted in variations in their performance volatility and
financial fundamentals, and in the strength of their market
presence in Poland. In addition, the banks' BCAs also reflect the
different size of foreign-currency mortgage portfolios, that carry
high contingent credit risk. The latter factor also forces banks
to rely on their foreign parent banks and/or derivative and
wholesale markets for funding (see below for the analytical
considerations for the individual banks covered in this press
release).
(3) PROTECTION OFFERED TO SENIOR CREDITORS, AS CAPTURED BY
MOODY'S ADVANCED LGF LIABILITY ANALYSIS
Under its new methodology, Moody's applies its Advanced LGF
analysis to the liability structures of banks subject to
operational resolution regimes. Moody's expects that Poland, as a
member of the European Union, will introduce bank resolution
legislation in line with the EU Bank Recovery and Resolution
Directive (BRRD). Accordingly, Moody's applies its Advanced LGF
analysis to these banks' liability structures. This analysis
results generally in "very low" loss given failure for long-term
deposits, taking into account the banks' substantial volume of
deposit funding. For senior unsecured debt, Moody's has assessed a
"low" loss given failure additionally taking into account the
amount of senior debt and securities more subordinated to it.
(4) DECLINE IN THE LIKELIHOOD OF GOVERNMENT SUPPORT
Deposit and senior unsecured debt ratings now range from A2 to
Ba2. The lowering of Moody's government support assumptions
reflects the reduced likelihood of support being forthcoming
within the context of the expected implementation of the new bank
recovery and resolution legislation. The negative effect on the
banks' ratings from a decline in the expectation of government
support has in most cases been counterbalanced by the low loss
assumptions under Moody's Advanced LGF framework.
BANK SPECIFIC ANALYTIC FACTORS:
Powszechna Kasa Oszczednosci Bank Polski S.A.:
The affirmation of the bank's deposit ratings at A2/Prime-1, with
a change in outlook to stable from negative, reflects the
affirmation of the bank's BCA at baa2 and the Advanced LGF
analysis that provides two notches of uplift from the bank's BCA
and offsets reduced government support assumptions. Powszechna
Kasa Oszczednosci Bank Polski benefits from a large volume of
deposits, and limited senior and subordinated debt, resulting in
very low loss given failure. However, because of the expected
implementation of resolution legislation, Moody's has lowered its
government support assumptions for the bank to "moderate", leading
to one notch of uplift from support, from "very high" and three
notches previously.
The downgrade of the bank's senior unsecured debt rating to A3
from A2 takes into account the Advanced LGF analysis and Moody's
reduced assumption regarding the likelihood of government support.
The Advanced LGF analysis, which also takes into account the
bank's volume of senior debt and the volume of securities
subordinated to it in Moody's creditor hierarchy, results in a low
loss given failure and provides one notch of uplift from the
bank's BCA of baa2. However, this does not fully offset the
decrease in government support assumptions to one notch of uplift
from three notches previously.
The affirmation of the bank's BCA at baa2 reflects the bank's
improved capitalization and asset quality, and its continued good
profitability levels. The bank's problem loan ratio decreased to
6.8% at end-March 2015 from 8.1% at end-March 2014, which is below
the Polish average of 7.5% at end-March 2015, and compares
favorably to those of its rated peers. The bank's problem loan
coverage also improved, to 62.8% at end-March 2015 from 52.5% at
end-March 2014. In addition, the bank benefits from an improvement
in capitalization (Tangible Common Equity (TCE) at 12.3% of risk-
weighted assets at end-2014). This capital ratio includes the
expectation that the bank's shareholders will confirm in the
coming weeks the full retention of the 2014 profit in line with
the recommendation received from the Polish regulator for banks
exposed to the risks of Swiss franc mortgage loans.
Bank Zachodni WBK S.A.:
The upgrade of the bank's long-term deposit rating to A3 from Baa1
is due to the Advanced LGF analysis that provides two notches of
uplift from the bank's adjusted BCA of baa2 (BCA is baa3) and
offsets reduced government support assumptions. Bank Zachodni WBK
benefits from a large volume of deposits, and limited senior and
subordinated debt, resulting in very low loss given failure.
However, because of the expected implementation of resolution
legislation, Moody's has lowered its government support
assumptions for the bank to "low", leading to no uplift from
support, from "high" and one notch previously.
mBank S.A.:
The upgrade of the bank's deposit ratings to Baa2/Prime-2 from
Baa3/Prime-3 is due to the Advanced LGF analysis that provides two
notches of uplift from the bank's adjusted BCA of ba1 (BCA is ba2)
and offsets reduced government support assumptions. mBank benefits
from a large volume of deposits, and limited senior and
subordinated debt, resulting in very low loss given failure.
However, because of the expected implementation of resolution
legislation, Moody's has lowered its government support
assumptions for the bank to "low", leading to no uplift from
support, from "high" and one notch previously.
The bank's senior unsecured debt rating was confirmed at Baa3,
with a stable outlook, and reflects the Advanced LGF analysis
which provides one notch of uplift from the bank's adjusted BCA of
ba1 and offsets the lower likelihood of government support to no
uplift from one notch previously.
ING Bank Slaski S.A.:
The upgrade of the bank's long-term deposit rating to A3 from Baa1
is due to the Advanced LGF analysis that provides two notches of
uplift from the bank's adjusted BCA of baa2 (BCA is baa3) and
offsets reduced government support assumptions. ING Bank Slaski
benefits from a large volume of deposits, resulting in very low
loss given failure. However, because of the expected
implementation of resolution legislation, Moody's has lowered its
government support assumptions for the bank to "low", leading to
no uplift from support, from "high" and one notch previously.
Getin Noble Bank S.A.:
The confirmation of the bank's long-term deposit rating of Ba2
incorporates the lowering of the BCA to b1 and the Advanced LGF
analysis that provides two notches of uplift from the bank's BCA
and offsets reduced government support assumptions. Getin Noble
Bank benefits from a large volume of deposits, and limited senior
and subordinated debt, resulting in very low loss given failure.
However, because of the expected implementation of resolution
legislation, Moody's has lowered its government support
assumptions for the bank to "low", leading to no uplift from
support, from "moderate" and one notch previously.
The lowering of the bank's BCA to b1 from ba3 reflects the bank
ongoing asset-quality and profitability challenges. In Moody's
opinion, Getin Noble Bank continues to carry significant balance-
sheet risk related to the amount of problem loans relative to
reserves and capital, which reached an historical high of 77.7% at
year-end 2014. In addition, following a recommendation from the
Polish regulator, the bank included an additional category of
loans with weak evidence of impairments in its overall non-
performing loan ratio, which reached 16% at end-March 2015 from
13.1% at end- 2014.
Bank Millennium S.A.:
The upgrade to the bank's long-term deposit rating to Ba1 from Ba2
is due to the Advanced LGF analysis that provides three notches of
uplift from the bank's BCA of b1 and offsets reduced government
support assumptions. Bank Millennium benefits from a large volume
of deposits, some senior and subordinated debt, and Moody's
assumption of higher residual Tangible Common Equity (TCE) at
failure owing to the failure risks associated with a significantly
weaker parent, Banco Comercial Portugues S.A. (deposits B1 under
review for downgrade; BCA caa2), resulting in extremely low loss
given failure. However, because of the expected implementation of
resolution legislation, Moody's has lowered its government support
assumptions for the bank to "low", leading to no uplift from
support, from "high" and two notches previously.
Bank Handlowy w Warszawie S.A.:
The upgrade of the bank's deposit ratings to A3/Prime-2 from
Baa3/Prime-3 is due to a combination of the affirmation of the BCA
at baa3, the higher adjusted BCA of baa2 from baa3 reflecting
affiliate support, as well as the Advanced LGF analysis that
provides two notches of uplift from the bank's adjusted BCA. Bank
Handlowy w Warszawie benefits from a large volume of deposits,
resulting in very low loss given failure.
The higher adjusted BCA reflects Moody's view of moderate
likelihood of extraordinary affiliate support from Citibank N.A.
(Citi; deposits A2 under review for upgrade; BCA baa2) in case of
need, given the brand association and common client base. This
results in one notch of uplift for the adjusted BCA of baa2 from
the BCA of baa3. With its ownership of 75% of the bank, Citi
considers that Poland is a growing market with a track record of
good profitability and a well-established presence in the large
corporate segment, which is in line with its business strategy.
The affirmation of the bank's BCA at baa3 reflects the bank's
consistently high capital ratios, strong profitability, and good
liquidity base. The BCA is constrained, however, by the bank's
relatively specialized corporate business profile compared to
higher rated universal peers, which presents intrinsically higher
volatility on profitability and funding.
Bank Gospodarki Zywnosciowej S.A.:
The upgrade of the bank's deposit ratings to Baa2/Prime-2 from
Baa3/Prime-3 is due to the affirmation of the bank's BCA of ba2
and the Advanced LGF analysis that provides one notch of uplift
from the bank's adjusted BCA of baa3. Moody's estimates that the
bank, after the merger with BNP Paribas Bank Polska (not rated),
benefits from a moderate volume of deposits, resulting in low loss
given failure.
The affirmation of the bank's BCA at ba2 follows the merger of the
bank with BNP Paribas Bank Polska on April 30, 2015. The banks
have complementary operations and market presence, and Moody's
says that the new combined bank (named Bank BGZ BNP Paribas S.A.)
is likely to benefit in terms of a stronger competitive position
in the market, increased business diversification and an expanded
branch network.
The affirmation of the BCA also reflects Moody's view of the new
combined bank's relatively good capital and liquidity profile, as
well as its low profitability and efficiency compared to the
average of the Polish banking sector. Moody's believes the
expected benefits from the merger, particularly in terms of cost
synergies, will become more visible between 2016 and 2017.
Bank BPH S.A.:
The downgrade of the bank's deposit ratings to Ba2/Not-Prime from
Baa3/Prime-3 is driven by the lowering of the BCA to ba3 from ba2,
a lower expectation of affiliate support further lowering the
adjusted BCA to ba2 from baa3, and the Advanced LGF analysis that
provides no uplift from the bank's adjusted BCA. Bank BPH has a
modest volume of deposits, resulting in moderate loss given
failure.
The lowering of the bank's BCA to ba3 from ba2 reflects the bank's
high contingent asset and capital risk deriving from its large
Swiss franc-denominated mortgage portfolio (over 55% of total
loans at end-March 2015), and its very weak profitability and
efficiency compared to the average of the Polish banking sector.
The BCA is supported, however, by the current level of long-term
funding commitment - until 2021 - from its parent General Electric
Capital Corporation (GECC; A1 stable).
The lower adjusted BCA of the bank reflects the bank's lower BCA
and Moody's lowered assumptions of extraordinary affiliate support
to "moderate", leading to one notch of uplift from support, from
"high" and two notches previously. This change reflects the GECC's
only shareholder (General Electric Company) announcement, in April
2015, that it plans to dispose of most of the assets of GECC over
the next three years, thus reinforcing its intention to dispose of
Bank BPH, which was already announced in October 2014.
Credit Agricole Bank Polska S.A.:
The upgrade of the bank's deposit ratings to Baa1/Prime-2 from
Baa3/Prime-3 is due to the Advanced LGF analysis that provides two
notches of uplift from the bank's adjusted BCA of baa3 (BCA is
ba2). Credit Agricole Bank Polska benefits from a large volume of
deposits, and limited senior debt, resulting in very low loss
given failure.
Moody's has also assigned CR assessments to 11 Polish banks. CR
Assessments are opinions of how counterparty obligations are
likely to be treated if a bank fails and are distinct from debt
and deposit ratings in that they (1) consider only the risk of
default rather than the likelihood of default and the expected
financial loss suffered in the event of default; and (2) apply to
counterparty obligations and contractual commitments rather than
debt or deposit instruments. The CR Assessment is an opinion of
the counterparty risk related to a bank's covered bonds,
contractual performance obligations (servicing), derivatives
(e.g., swaps), letters of credit, guarantees and liquidity
facilities.
The CR assessments for the 11 Polish banks are three notches above
their adjusted BCAs, and reflect the seniority of the counterparty
obligations and the volume of liabilities subordinated to them
under Moody's Advanced LGF framework.
Upward rating momentum on the 10 banks' ratings could develop from
(1) a sustained improvement in profitability; (2) materially
stronger capital positions; and (3) a significant reduction in
Swiss franc mortgage loans for the banks that are more exposed to
this asset class.
Downward rating pressure could emerge if (1) credit underwriting
standards deteriorate noticeably; (2) current revenue and
profitability pressures intensify; (3) macroeconomic environment
deteriorates such that unemployment rises and the Polish real-
estate market weakens; and (4) the Polish zloty materially weakens
against the Swiss franc for the banks that are more exposed to
Swiss franc mortgage loans.
The principal methodology used in these ratings was Banks
published in March 2015.
INTRALOT SA: Fitch Affirms B+ Issuer Default Rating, Outlook Neg
----------------------------------------------------------------
Fitch Ratings has affirmed Intralot S.A.'s Long term issuer
Default Rating (IDR) at 'B+; with a Negative Outlook. Fitch has
also affirmed Intralot Finance Luxembourg S.A.'s EUR325m 9.875%
senior notes due 2018 and Intralot Capital Luxembourg S.A.'s
EUR250 million 6% senior notes due 2021 at 'BB-/RR3'. Both bonds
are guaranteed by Intralot.
The ratings reflect the large geographical spread of Intralot's
licensed operations and management contracts, which provide
visibility of revenues and EBITDA profits over the next three
years.
However, Intralot is facing increased competition and lower
operating margins, which together with higher interest costs,
payments to minorities and capex, will leave free cash flow (FCF)
modest to negative. This, coupled with significant negative carry
due to the cash deposits built up from a 2014 bond issue and
subsequent drawdown of the EUR120 million RCF facility, means that
funds from operations (FFO) gross leverage will remain above the
guideline for a 'B+' IDR rating, which is reflected in the
Negative Outlook. The Outlook could be revised to Stable, subject
to a stabilization of EBITDA margin and a return to a more
efficient financial structure
KEY RATING DRIVERS
Increased Risks from Overseas Expansion
Intralot has been expanding successfully in new geographies such
as Azerbaijan and increasingly becoming a licensee itself as
national gaming markets liberalize. However, as new projects
require upfront investment, the company is increasingly becoming a
full-scale operator in new geographies. This exposes it to
greater risks and potentially lower margins as competition
increases, particularly as governments worldwide tighten up
contract terms.
Rising Gross Leverage
Gross leverage will remain at around 6.0x in 2015 and 2016, due to
only moderate positive cash-flow generation. Net leverage will,
however, remain around 3.0x during the same period and in line
with Fitch's guidelines. The decision to retain as cash buffer a
EUR100 million portion of the proceeds of the EUR250 million 2021
bond issue adversely affected gross credit metrics. This has been
exacerbated by the drawdown of EUR120 million under the RCF
facility and by placing the funds outside Greece due to the
company's concerns towards the liquidity of its Greek lending
banks.
Limited Linkage with Greece
Intralot generates less than 3% of its revenues and less than 10%
of its EBITDA in Greece. Fitch views the recent downgrade of
Greece's sovereign ratings to 'CCC' as neutral for Intralot's
ratings given its contractual requirement to maintain large
portions of its cash outside Greek banks and its manageable
refinancing risk, with no debt maturity until 2017. In the event
of a sovereign default including Greece's exit from the euro, the
company has contingency plans in place that they could complete
within a three-month period.
Recurring Contract EBITDA
Recurring revenues from contracts with EBITDA-weighted average
life of four to five years generate a core EUR160 million EBITDA
(around 90% of total). Due to the high switching costs of
changing suppliers, many of the contracts should be renewed,
albeit possibly with lower margins and requiring an upfront
renewal fee.
Reputable Gaming Technology Supplier
Intralot has established itself in the international gaming sector
as a reputable provider of, among other products, systems to
manage lotteries through software platforms and hardware
terminals. This has enabled it to win important contracts for the
supply of technology and for the management of lotteries in the US
and Greece and for sports-betting in Turkey and Greece.
Scope for Growth
The gradual liberalization of gaming markets, governments' intent
on finding ways to raise tax proceeds from gaming by eliminating
unregulated betting and an increasing supply of new games, should
all provide increasing opportunities for Intralot. The company
should be able to leverage on its experience and reputation and
also benefit from a limited number of reputable suppliers in the
industry.
Adequate Liquidity
Liquidity has significantly strengthened with the issue in April
2014 of EUR250m 2021 senior unsecured notes and the company's
FYE14 cash balances of over EUR400m. The improvement was
underpinned by a successful bank re-financing in May 2014,
comprising a EUR120m RCF facility and a EUR80m term loan extended
to 2017.
Low FCF Generation
Intralot will generate modest cash flow in aggregate in 2015 and
2016 as it maintains capex at 2014 levels and high minority
distributions. Cash flow is absorbed by approximately EUR30
million of annual minority dividend distributions arising from 25%
of EBITDA linked to joint ventures but which does not belong to
Intralot (although fully consolidated). Any debt repayment should
therefore come from cash deposits rather than cash flow.
RATING SENSITIVITIES
Future developments that may, individually or collectively, lead
to a negative rating action include:
-- Evidence that new contracts or renewals are occurring at
materially less favorable conditions for Intralot, such as
lower EBITDA margins of under 9%, large upfront concession
fees or capex outlays.
-- FFO-based net lease adjusted leverage sustainably above
4.0x (FFO gross lease adjusted leverage above 5.0x) (2014:
5.9x)
-- FFO fixed charge cover below 2.0x. (2014: 2.0x)
-- Material reduction in liquidity without a commensurate
reduction in gross leverage.
Future developments that may, individually or collectively, lead
to a revision of the Outlook to Stable include:
-- Positive EBITDA growth derived from a stronger return on
capital on existing and future contracts with limited capex
outlays.
-- FFO-based net lease adjusted leverage reducing sustainably
below 3.5x (FFO gross lease adjusted leverage below 4.5x),
with cash deposited predominantly at investment grade-rated
counterparties.
-- FFO fixed charge cover around 3.0x, unaided by favorable
interest carry.
-- Evidence of sustained positive FCF generation.
LIQUIDITY AND DEBT STRUCTURE
In response to the Greek debt crisis and to protect its liquidity
position, Intralot fully drew on its syndicated RCF (EUR120
million) maturing May 2017, which was extended by three years in
2014. There are no bond maturities until August 2018, when the
EUR325 million unsecured notes mature.
KEY ASSUMPTIONS:
Fitch's key assumptions within our rating case for the issuer
include:
-- Revenue visibility to remain steady with growth of around
6.5% in 2015.
-- Currency impact and margin pressure to continue with EBITDA
margin remaining at around 9% before increasing to 9.8% by
2017.
-- Minority dividends representing around 50% of EBITDA
contribution deducted from FFO.
-- Working capital modestly includes some variability for new
contracts, which have higher costs up front.
-- Capex for maintenance and growth, all of which includes
renewal of license fees and machines.
===========
R U S S I A
===========
EURASIA DRILLING: Fitch Affirms 'BB' IDR, Outlook Stable
--------------------------------------------------------
Fitch Ratings has affirmed Russia-based Eurasia Drilling Company
Limited's (EDC) Long-term foreign and local currency Issuer
Default Ratings (IDR) at 'BB' with a Stable Outlook.
With a 27% market share in 2014, EDC is Russia's leading drilling
company by onshore meters drilled. Despite competitive pressures,
we expect EDC to remain the largest on-shore driller in the
country over the medium term. Its ratings are constrained in the
'BB' category due to high customer concentration and limited
geographical diversification. OAO LUKOIL (BBB-/Negative)
contributed 75% to EDC's revenues in 2014, up from 66% in 2013,
while the share of OJSC OC Rosneft, EDC's second-largest customer
in 2013, fell to 6% in 2014, from 19%.
The Stable Outlook reflects Fitch's expectation that despite a
weaker rouble and onshore drilling volumes EDC will maintain solid
credit metrics in 2015-2018, ie, funds from operations (FFO)
adjusted net leverage of under 1.3x (end-14: 1.0x) and FFO
interest of cover above 8.0x (end-14: 21.4x) that are sufficient
for a mid 'BB' rating category. The Stable Outlook also reflects
the forecast improvement in business fundamentals as Fitch expects
Russian oil & gas companies to restate drilling volumes to battle
natural oil flow declines since oil prices have recovered from
their multi-year lows in January 2015. EDC is not subject to any
Western sanctions announced to date, and we assess the impact of
sectoral oil & gas sanctions on the company as fairly limited.
KEY RATING DRIVERS
Schlumberger Deal Positive Medium-Term Synergies
On Jan. 20, 2015, Schlumberger Ltd. announced it had agreed to pay
USD1.7bn for a 45.65% stake in EDC. EDC will be de-listed from
the London Stock Exchange and thereafter Schlumberger will become
its largest single minority shareholder, while core existing
shareholders, including the company's CEO, will control the
remaining shares. Schlumberger has an option to purchase EDC's
remaining shares during a two-year period commencing three years
from the closing of the transaction. EDC's existing management
will stay in place for at least three years following the deal
close.
Fitch expects that closer cooperation with Schlumberger may
improve EDC's operations and profitability over time, through
technological, operational and financial synergies. Since 2011,
the companies have been working in Russia under a five-year
strategic alliance agreement.
On April 30, 2015, EDC announced that together with Schlumberger
it is continuing to cooperate with the Russian authorities in
relation to the transaction and that the long-stop date for
completion of the transaction has been extended to May 31, 2015.
Volumes, Rouble Hurt Performance
In 2014, EDC's total meters drilled dropped 9.5% on 2013 to 5.67m
meters, and its horizontal meters drilled were nearly flat at
1.29m meters. EDC's 2014 revenues from drilling and related
services were down 14.4% yoy to USD2.97 billion, and its EBITDA
fell to USD836 million, 11.1% down on 2013. In Fitch's view, the
main factors behind the weaker performance in 2014 -- lower total
drilling volumes and a sharp rouble devaluation against the US
dollar -- will continue dragging EDC's overall performance down in
2015. EDC improved its EBITDA margin in 2014 to 28.1% from 27% in
2013 due to a higher contribution from offshore segment and cost-
cutting measures. Fitch expects that largely flat onshore
drilling rates in 2015 and low-double-digit domestic inflation in
Russia will lead to some deterioration of EDC's onshore EBITDA
margin and a moderately lower overall EBITDA margin in 2015.
The external negative factors are mitigated to some extent by the
contribution from the company's growing offshore segment, thanks
to US dollar-denominated offshore revenues and its high EBITDA
margins. EDC has four jack-up rigs on the Caspian sea shelf that
are deployed across the Russian, Kazakh and Turkmen sectors under
long-term contracts with several international majors and national
oil companies. The company also performs drilling, including
extended-reach horizontal well development, and wells completion
at Lukoil's Yuri Korchagin field platform there. In 2014, EDC's
offshore revenues amounted to USD221 million, or 7% of the total.
Fitch expects that in 2015, the offshore segment may contribute up
to 13% of EDC's gross revenues and even greater portion of EDC's
EBITDA.
Rosneft Out, Gazprom Neft In
Following significant activity reduction from Rosneft since the
beginning of 2014, EDC's customer concentration is increasing. In
2014 LUKOIL and JSC Gazprom Neft (GPN, BBB-/Negative) accounted
for 63% and 22% of EDC's total metres drilled, respectively. In
2014, EDC signed a three-year framework agreement with GPN for
well construction and sidetracking. Fitch also expects EDC and
LUKOIL to renew their three-year framework agreement that expires
in December 2015. These long-term agreements contribute to the
stability of EDC's rouble-denominated cash flows. While EDC is
working on expanding its customer base in Russia, Fitch forecasts
that its clientele will remain fairly concentrated over the medium
term.
Sector Outlook Set to Improve
In 2014, Russia's crude production including condensate was up
0.7% yoy to 526.8mt, another post-1991 record. While in 2010-2014
Russia's oil production increased by only about 1.1% p.a., the
growth in Russia's onshore drilling volumes reached 8% p.a. To
maintain oil production, Russian companies need to continue
investing massively in exploration and development, as the output
from the country's mature brownfields, primarily in Western
Siberia, continues declining. Bringing new oilfields on-stream
and increasing ultimate recovery at brownfields through
sidetracking (directional drilling) and fracking requires more
complex drilling, and EDC is well-positioned to capitalize on this
trend.
Brent has rebounded from the multi-year low of USD46.7 per barrel
(bbl) reached in January 2015 to over USD65/bbl in May 2015.
Using Fitch's Brent price deck of USD55/bbl in 2015, USD65/bbl in
2016, and USD80/bbl thereafter, Fitch expects that both total and
horizontal drilling volumes will pick up starting from 2016 by
high single digits p.a. as Russian oil companies are likely to re-
focus on brownfields that are exempt from western sanctions to
meet their upstream production targets.
KEY ASSUMPTIONS
Fitch's key assumptions within the rating case for EDC include:
-- Drop in onshore drilling volumes in 2015 and moderate
increase thereafter.
-- Increases in RUB-denominated onshore drilling tariffs in
line with changes in Russia's producer price index.
-- The share of offshore drilling volumes increasing from 7%
in 2014 to 11% in 2016.
-- Stable EBITDA margin averaging 27% in 2015-2018.
-- Average annual USD/RUB exchange rate of RUB60 per 1USD in
2015, RUB55/USD in 2016 and RUB47.5/USD thereafter.
-- Capex for 2015-2018 in line with the management guidance
adjusted for RUB/USD exchange rate forecasts.
-- 30% dividend payout ratio of consolidated net profits.
RATING SENSITIVITIES
Positive: Future developments that may, individually or
collectively, lead to positive rating action include:
-- FFO adjusted net leverage below 1.5x and FFO interest cover
above 8x on a sustained basis.
-- Positive free cash flows from 2015.
-- Onshore drilling volumes up by at least 5% yoy in 2015.
-- Better diversified customer base.
Negative: Future developments that may, individually or
collectively, lead to negative rating action include:
-- FFO adjusted net leverage above 2.5x on a sustained basis
due to M&A, high dividend pay-out, or weak operating
performance.
LIQUIDITY
Large Repayments Over 2015-2017
As of Dec. 31, 2014, EDC needed to repay or refinance USD511
million in 2015-2017, including payments for long-term liabilities
for fixed assets and excluding interest, or 46% of its borrowings,
of which USD126 million falls due in 2015 and another USD248
million in 2016. It has negligible repayments from 2018 until
2020 when its USD600 million Eurobond is due. Fitch notes that
while EDC's low leverage and strong track record mean it should be
able to refinance or repay its obligations when due, a possible
escalation of Western sanctions on Russia may hamper its
refinancing activities or make new borrowings significantly more
expensive, while Russian banks and capital markets provide only
limited liquidity options.
Currency Exposure Manageable
At end-2014, USD1,031m or 91% of EDC's borrowings were US dollar-
denominated, while about two-thirds of its USD327 million in cash
was held in roubles. Fitch notes that predominantly rouble-
denominated revenues and dollar-denominated borrowings expose EDC
to currency risks. Although in 2015-2017 EDC's dollar-denominated
post-capex free cash flows from offshore operations fall about
USD85 million or 16% short of total debt service costs (both
principal and interest) and repayments of long-term liabilities
under the property supply contract, Fitch believes that this
shortfall is manageable as EDC should be able to refinance it or
purchase US dollars on the open market.
EDC's short-term liquidity at Dec. 31, 2014, is supported by
USD100 million of the unused committed line from Raiffeisen Bank
International AG (BBB/Negative), which could be used for general
corporate and around USD100 million of undrawn credit facilities
available for purchase of new drilling rigs.
Additional Eurobond Guarantees
EDC's operating companies (guarantors) need to provide additional
guarantees under EDC's USD600 million Eurobond documentation
within 150 days from the date of publication of its 2014 US GAAP
financial statements to ensure that these guarantors account at
least 75% of EDC's consolidated EBITDA.
Full List of Rating Actions
Eurasia Drilling Company Limited
Long-term foreign and local currency IDRs: affirmed at 'BB';
Stable Outlook
Short-term foreign and local IDRs: affirmed at 'B'
National Long-term rating: affirmed at 'AA-(rus)', Stable
Outlook
OOO Burovaya Kompaniya Eurasia
Senior unsecured rating: affirmed at 'BB'
National senior unsecured rating: affirmed at 'AA-(rus)'
EDC Finance Limited
Senior unsecured rating: affirmed at 'BB'
POLYUS GOLD: S&P Affirms 'BB+' CCR, Outlook Remains Negative
------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB+' long-term
corporate credit rating on Russian gold miner Polyus Gold
International Ltd. The outlook remains negative.
In addition, S&P affirmed its issue rating on Polyus' US$750
million senior unsecured notes at 'BB+'. The recovery rating on
these notes is unchanged at '3', indicating S&P's expectation of
meaningful recovery prospects, in the higher half of the 50%-70%
range, in the event of a payment default.
S&P expects Polyus to show an improvement in its cash flow
generation capacity, benefiting from the devaluation of the
Russian ruble and thanks to its optimization of costs and
expenditure. This is likely to result in an improvement of the
company's stand-alone creditworthiness, in S&P's view. However,
this has not led to a positive rating action because the rating on
Polyus continues to be capped at the level of S&P's transfer and
convertibility (T&C) assessment of Russia, which is 'BB+'. The
cap reflects that Polyus, whose assets are in Russia, does not
currently export its products and therefore does not have access
to a steady and secure supply of hard currency receivables.
S&P views the sharp devaluation of the ruble in late 2014 and
early 2015 as a positive for the company's competitive position
and cash flow generation capacity, supported by its cost
optimization program. For example, Polyus' unit cash cost in the
second half of 2014 was US$524 per ounce (/oz) and S&P expects it
to be US$425/oz-US$450/oz in 2015 (below US$650/oz by the more
comprehensive "all-in sustaining cost" measure). Under this
assumption, Polyus ranks ahead of its competitors. While the
company has some currency hedges in 2015 that would partially
offset the improvement in the unit cash cost, S&P expects Polyus
to see the full benefit of the devalued ruble from 2016.
S&P anticipates that the company's strict control over capital
expenditure (capex) will lead to neutral free operating cash flows
(FOCF) in 2015 and positive FOCF from 2016. In this respect, S&P
sees the company's decision to review the Natalka project, and to
minimize expenses on it, positively. S&P previously saw material
execution risk in relation to this project. S&P understands that
the project review will be concluded by mid-2015, and that,
separately, the company is engaged in some negotiations to add
partners brought in to the project.
Under S&P's base-case scenario, it projects that Polyus' adjusted
EBITDA will be about US$700 million in 2015 and more than US$1
billion in 2016, and Standard & Poor's-adjusted funds from
operations (FFO) to debt will be above 60% in the coming years.
As a result, S&P has revised the financial risk profile of the
company upward to "modest" from "intermediate," which has resulted
in an upward revision of its stand-alone credit profile to 'bbb-'
from 'bb+'.
S&P's base-case scenario takes in these assumptions:
-- A gold price of $1,200/oz for the rest of 2015 and 2016,
compared with a gold price of $1,270/oz in 2014. In
addition, S&P assumes that the company will see a further
US$50/oz-US$60/oz benefit from its revenue stabilizer
mechanism.
-- Total attributable production of 1.6 million-1.7 million
ounces in 2015 and 2016. Those figures don't include the
contribution from the Natalka project, which S&P now sees
as less likely to arrive in the coming 18 months. 60
rubles per U.S. dollar in 2015 and 2016 (current spot price
is around 50 rubles).
-- A unit cash cost of US$425/oz-US$450/oz in 2015, increasing
slightly in 2016. Realization of a loss amounting to a few
hundred million U.S. dollars under its currency derivatives
position in 2015 (in 2014, the company recorded a
revaluation loss of US$547 million). (The loss could
further increase if the ruble continues to devalue above 60
per U.S. dollar; conversely a recovery in the ruble would
reduce the loss.)
-- Dividends in line with the company's recently adopted
policy of 30% of net income. S&P assumes that special
dividends would be restricted to the company's cash flow
capacity, without materially affecting the net debt
position.
As of Dec. 31, 2014, Polyus reported a net debt position of about
US$330 million, with very comfortable maturities and about Us$1.5
billion of cash on the balance sheet. At this stage, when the
company has currency derivatives with substantial negative values,
S&P assumes that not all of the cash is fully available. S&P
expects the company to have neutral FOCF in 2015, followed by a
significant improvement in 2016.
S&P's rating on Polyus is capped by the T&C assessment on Russia.
This takes into account the heightened risk that Polyus, whose
assets are Russia-based and which generates all of its revenues
domestically, may have restricted access to hard currency to
service its foreign currency debt and capital expenditure
requirements in a sovereign default scenario. The company has a
limited track record of exporting its products and maintaining
cash balances in offshore accounts.
S&P assess Polyus' liquidity as "adequate" under S&P's criteria.
S&P estimates the ratio of sources to uses of liquidity to be more
than 2.0x in 2015 and in 2016. S&P's assessment takes into
account Polyus' material cash balance and about $750 million
available credit facility from VTB Bank. In addition, the company
has some flexibility to curb its capex (for example, on mine
expansion) and dividends, if gold prices fall. The liquidity
assessment also takes into account Polyus' potential exposure to
the outstanding currency derivatives position in 2015.
Under S&P's base-case scenario, it projects these liquidity
sources as of Dec. 31, 2014:
-- US$1.4 billion of cash, excluding US$100 million of cash
that S&P estimates is not immediately available for debt
repayment.
-- More than US$800 million available under committed
facilities, most of which relate to the VTB and Rosbank
long-term facilities.
-- FFO of about US$0.5 billion for 2015 and US$0.9 billion for
2016.
-- No lump-sum proceeds from the potential sale of the
electricity grid under construction to the local
electricity grid company, but ongoing rent payments
(construction costs are about US$100 million).
S&P projects these consolidated uses of liquidity as of Dec. 31,
2014:
-- A sizable capex program of about US$0.6 billion per year in
2015 and 2016. This figure should support the execution of
the company's medium-term strategy. In addition, it
includes some investment in the Natalka project (S&P
understands that the company has full flexibility to
curtail those potential investments).
-- Modest debt maturities of US$164 million in 2015 and $42
million in 2016. The company's main US$750 million
Eurobond matures in 2020.
-- US$184 million of declared dividends to be paid in early
2015. Starting 2016, S&P assumes a dividend payout of 30%
of net income, in line with the company's stated financial
policy.
-- No material investment in working capital, as S&P expects
flat prices and volumes.
The negative outlook reflects that on Russia, because S&P caps the
rating on Polyus at the level of the 'BB+' T&C assessment on
Russia.
S&P could lower the rating on Polyus over the coming 12 months if
S&P lowered the T&C assessment of Russia.
S&P would also consider a downgrade if Polyus' adjusted ratio of
FFO to debt dropped below 45% under normal market conditions, or
below 30% at a cyclical low point a result of weaker industry
conditions, or if its discretionary cash flow became negative.
This could be triggered by a deviation from Polyus' currently
moderate financial policy, such as through a material acquisition
or dividend.
A revision of the outlook back to stable would follow a similar
revision of the outlook on Russia.
An upgrade above the T&C assessment of Russia is unlikely at this
stage, as this would require the company to switch to
predominantly exporting its products. In addition, such a rating
action would need to be supported by Polyus maintaining the
current moderate financial policy, with FFO to debt above 60%.
SAMARA OBLAST: S&P Lowers ICR to 'BB' on Weakening Liquidity
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term issuer
credit rating on Russia's Samara Oblast to 'BB' from 'BB+'. The
outlook remains negative. At the same time, S&P lowered the
Russia national scale rating to 'ruAA' from 'ruAA+'.
RATIONALE
S&P has lowered its assessment of the oblast's liquidity position
to less than adequate because of the absence of the oblast's
backup committed facilities with domestic banks, despite elevated
refinancing needs. Management plans to reduce budget deficits
very gradually, while unfavorable conditions in the Russian bond
market are pushing up the oblast's interest payments and
encouraging it to opt for short-term funding.
The ratings are constrained by S&P's view of the oblast's economy
as weak, due to only modest wealth levels, and weak financial
management. The ratings also reflect S&P's view of Russia's
volatile and unbalanced institutional framework, which limits the
oblast's revenue and expenditure autonomy and translates into weak
budgetary flexibility. The oblast's average budgetary performance
is neutral for its creditworthiness. The ratings are supported by
our view of the oblast's low debt and very low contingent
liabilities.
The long-term rating is at the same level as Samara's 'bb' stand-
alone credit profile.
Samara Oblast is one of Russia's key industrial regions, but S&P
forecasts its gross regional product (GRP) per capita will reduce
to about $6,500 on average in 2015-2017 due to a sharp ruble
depreciation. Moreover, the oblast's revenues remain exposed to
the volatility of the tax regime on oil production and refining
industry, which together provide about 16% of GRP, as well as the
financial strategies of a few holding companies operating in this
sector. Tax payments, primarily corporate profit tax (CPT), from
oil production and refinancing dropped significantly in 2013-2014.
In 2013, large diversified holding companies started to pay this
tax on a consolidated basis, which reduced their contribution to
the oblast's budget, while in 2014 their profits dropped because
of foreign currency losses.
S&P expects that in 2015-2016 CPT from the largest taxpayers will
somewhat rebound if the "consolidated taxpayer regime" is amended.
Other tax revenues will likely increase only modestly on the back
of economic contraction that S&P forecasts in Russia.
Under Russia's volatile and unbalanced institutional framework,
the federal government regulates the majority of regional revenues
and expenditure responsibilities. Samara Oblast's modifiable
revenues (mainly transport tax and nontax revenues) are low -- S&P
forecasts they will account for only 7% of the oblast's operating
revenues on average in the next three years --and don't provide
much flexibility. Leeway is also restricted on the expenditure
side, especially due to the need to raise social spending in line
with 2012 presidential decrees. In 2014, to alleviate pressure on
regional budgets, the federal government softened some of its
mandated spending targets for 2015-2017. Nevertheless, Samara
Oblast will have to continue optimizing operating spending to
raise public-sector salaries and invest in social infrastructure.
S&P views Samara oblast's budgetary performance as average. S&P
projects the oblast's five-year average operating surplus to stay
at around a moderate 3.2% of operating revenues, while the deficit
after capital accounts will slightly widen to about 8.3% of total
revenues.
The Russia-wide economic slowdown and increased foreign currency
losses of large oblast taxpayers led to a significant
underperformance of the oblast's revenues in 2014. As a result,
its operating surplus dropped to 1.4% of operating revenues in
2014 from 9% in 2013. In S&P's base-case scenario, though, it
expects the oblast to benefit from ruble depreciation and related
CPI inflation in 2015-2017. Rebounding revenues, primarily
corporate profit tax, may help the government stabilize operating
surplus as a percentage of operating revenues at about 1.8% on
average in 2015-2017.
Flat operating performance will likely help the region gradually
reduce its deficit after capital accounts. In S&P's base-case
scenario it assumes that the oblast's deficit after capital
accounts will decrease to 6.5% in 2017 from 11.2% in 2014.
However, the ability of the oblast to cut capital investments,
especially in infrastructure needed for hosting games during the
football World Cup in the city of Samara in 2018, will remain
limited. The total cost is currently estimated at about Russian
ruble (RUB) 56.4 billion (about $1.2 billion). The oblast plans
to provide up to 50% of the needed amount and the rest will be
cofinanced from the federal budget and private investors. The
exact funding scheme is currently being discussed, but S&P
understands that it will be a priority for the oblast's political
leadership and might undermine efforts to maintain fiscal
discipline over the medium term.
The oblast's tax-supported debt will continue to grow and will
likely reach 58.6% of consolidated operating revenues by year-end
2017. S&P considers this debt level as still-low in an
international context. However, in the context of the volatile
capital markets and rising interest rates in Russia, it will
likely translate into relatively high debt service for Samara
Oblast.
S&P includes the minor guaranteed and nonguaranteed debt of Samara
Oblast's government-related entities (GREs) into S&P's
calculations of tax-supported debt. S&P estimates GRE payables at
about 3% of the oblast's operating revenues, and believe that its
municipal sector is relatively financially healthy.
S&P views Samara Oblast's financial management as weak in an
international context, as S&P do most Russian local and regional
governments. This is mainly due to S&P's view of the oblast's
lack of reliable long-term financial and capital planning, and
limited visibility regarding the policy for GREs. At the same
time, S&P believes the oblast's debt management is more
sophisticated than the Russian average.
LIQUIDITY
S&P views Samara Oblast's liquidity position as less than
adequate, as defined in S&P's criteria. S&P expects the oblast's
debt service coverage to be adequate, with free cash and committed
credit facilities covering more than 80% of debt service falling
due within the next 12 months. S&P also applies a negative
adjustment for what S&P views as the oblast's limited access to
external liquidity, given the weaknesses of the domestic capital
market.
S&P forecasts that, by the end of March 2015, the oblast will have
average cash -- net of the deficit after capital accounts --of
about RUB10.5 billion (about $200 million). The cash will cover
about 60% of debt service falling due in this period. At the same
time, the oblast may rely on regular loans from the central
government aimed at refinancing commercial debt of about RUB3
billion (about $60 million). S&P expects that the oblast's own
cash and committee facilities combined will cover about 90% of the
oblast's debt service coming due over the next 12 months.
The interest rates in the Russian capital market remains elevated,
although decreasing. The oblast has refrained from arranging
committed credit lines so far this year and plans to tap the
market in the second half of the year in anticipation of lower
funding costs. This strategy may help Samara oblast reduce debt
service, but exposes it to higher refinancing risks as investor
sentiment in the domestic market remains volatile.
OUTLOOK
The negative outlook reflects S&P's view that ongoing economic
contraction and commitment to investment projects may prevent
Samara Oblast from budget consolidation in 2015-2016. Such a
delay in consolidation would increase the oblast's debt burden and
further constrain its liquidity position.
S&P might lower the ratings within the next 12 months if, in line
with its downside scenario, the oblast's revenue decrease further
because of economic contraction, while the government fails to
implement cost-cutting measures that in turn lead to structural
deficits after capital accounts of about 10% of total revenues on
average over 2015-2017 and a debt level well exceeding 60% of
consolidated operating revenues by 2018. Under this scenario, S&P
would likely revise its assessment of the oblast's liquidity to
weak.
S&P could revise the outlook to stable within the next 12 months
if, in line with S&P's base-case scenario, Samara Oblast's
management remained committed to cost-containing measures, and
maintained average budgetary performance and at least less than
adequate liquidity, despite expenditure pressures and turbulence
on the capital markets.
In accordance with S&P's relevant policies and procedures, the
Rating Committee was composed of analysts that are qualified to
vote in the committee, with sufficient experience to convey the
appropriate level of knowledge and understanding of the
methodology applicable. At the onset of the committee, the chair
confirmed that the information provided to the Rating Committee by
the primary analyst had been distributed in a timely manner and
was sufficient for Committee members to make an informed decision.
After the primary analyst gave opening remarks and explained the
recommendation, the Committee discussed key rating factors and
critical issues in accordance with the relevant criteria.
Qualitative and quantitative risk factors were considered and
discussed, looking at track-record and forecasts.
The chair ensured every voting member was given the opportunity to
articulate his/her opinion. The chair or designee reviewed the
draft report to ensure consistency with the Committee decision.
The views and the decision of the rating committee are summarized
in the above rationale and outlook. The weighting of all rating
factors is described in the methodology used in this rating
action.
RATINGS LIST
Rating
To From
Samara Oblast
Issuer credit rating
Foreign and Local Currency BB/Neg./-- BB+/Neg./--
Russia National Scale ruAA/--/-- ruAA+/--/--
Senior Unsecured
Local Currency BB BB+
Russia National Scale ruAA ruAA+
=========
S P A I N
=========
AMPER SA: Seeks Modification of Syndicated Loan Clause
------------------------------------------------------
Rodrigo Orihuela at Bloomberg News reports that Amper S.A. said in
a regulatory filing that supplier Cisco has changed its position
regarding Amper's commercial debt restructuring.
According to Bloomberg, the filing noted that Cisco's new position
is a "radical" change in its position, incompatible with the terms
of syndicated loan Amper has with financial institutions.
Amper related in the filing that it will request creditors to
modify clause in the syndicated loan so that it can conclude
existing restructuring process and capital increase.
The filing said if the clause isn't modified, the syndicated loan
won't be in effect and creditors could demand payment.
Amper SA is a Spain-based telecommunications company.
BANCO SANTANDER: Fitch Affirms 'BB' Rating on Preference Shares
---------------------------------------------------------------
Fitch Ratings has affirmed Spain-based Banco Santander, S.A.'s
(Santander) and Banco Bilbao Vizcaya Argentaria's (BBVA) Long-term
Issuer Default Ratings (IDRs) at 'A-' and Viability Ratings (VRs)
at 'a-'. The Outlook on their Long-term IDRs is Stable.
At the same time, Fitch has affirmed these banks' Short-term IDRs
at 'F2', Support Ratings (SRs) at '5' and Support Rating Floors
(SRFs) at 'No Floor'.
KEY RATING DRIVERS - IDRS, VRS AND SENIOR DEBT
The IDRs and senior debt ratings of Santander and BBVA are driven
by their stand-alone creditworthiness, as expressed by their VRs.
They are also one notch above the Spanish sovereign rating
(BBB+/Stable), supported by diversification benefits, especially
for Santander, from their solid retail franchises in a number of
European and Latin American countries and in the US.
Geographical diversification has proven key in supporting the
resilience of earnings generation and loss absorption capacity
during times of stress, enabling dividends to be up-streamed and
offering financial flexibility from the potential disposal of
stakes in subsidiaries if needed.
Despite Santander's and BBVA's international diversification,
Fitch considers that the banks' risk profiles remain correlated
with that of the Spanish sovereign and, as part of its analysis,
Fitch therefore also takes into account the standalone profile of
the Spanish legal entity to which the ratings are assigned.
In Fitch's view, this correlation is, among other factors,
reflected in the banks' domestic performance and asset quality,
which have proven sensitive to the economic environment. Funding
access, stability and costs are also typically influenced by broad
perceptions of sovereign risk, but Fitch notes the flight to
quality from which both banks benefited during Spain's recent
financial crisis and the improvement in funding costs since Spain
began its recovery.
Santander and BBVA have a track record of strong underlying
profitability, supported by fairly wide margins and a cost
control-oriented culture. This has enabled them to absorb higher
impairment charges over past years, especially from Spain, and yet
maintain a capacity to internally generate capital. Santander and
BBVA generated 16% and 29%, respectively, of their attributable
profits from core banking operations in Spain in 1Q15. Fitch
expects profitability in 2015 to continue its upward trend,
supported by a pickup in activity and lower impairments,
especially in Spain as the economy recovers.
Asset quality indicators, which weakened in recent years mainly
due to Spain's balance sheet, have improved at both banks. This
is explained by sustained evidence of lower non-performing loan
(NPL) inflows since mid-2013. BBVA's NPL ratio improvement is
somewhat held back by its larger share of loans in Spain. These
banks' reported group NPL ratios were 4.9% at Santander and 5.6%
at BBVA at end-1Q15 and reserves held against these assets have
consistently been above 60%, a level that Fitch sees as adequate
for their risk profiles.
Santander's capitalization and leverage has improved, primarily
due to a EUR7.5 billion capital increase completed in January
2015. Fitch currently views the two banks' capital and leverage
measures as sound in view of their fairly low-risk business
profiles. At end-2014, Santander's Fitch core capital
(FCC)/weighted risks ratio was 9.8%, after adjusting for the
January 2015 capital increase. BBVA's FCC ratio was 10.9%, but
Fitch expects it to be 100 bps lower once pending corporate
transactions have been completed. On a fully-loaded basis,
Santander's and BBVA's common equity tier 1 ratios were 9.7% and
pro-forma 9.8%, respectively, at end-1Q15. The banks'
capitalization also benefits from adequately-capitalized
subsidiaries.
S&P views Santander's and BBVA's funding and liquidity profile as
adequate for their rating level. The two banks are largely funded
by customer deposits in their core markets, with funding
imbalances being fairly small and met through long-term debt
instruments, mostly senior unsecured and covered bonds.
Funding also benefits from both banks' proven ready access to
local and international wholesale markets, even in turbulent
times. The banks hold ample unencumbered assets and scheduled
repayments of borrowings are well spread. Fitch's assessment of
the two banks' funding and liquidity profiles is also supported by
limited intercompany funding, with subsidiaries being locally
funded without recourse to the parent banks.
The Stable Outlook reflects Fitch's expectation that Santander's
and BBVA's overall credit profile is set to remain stable in the
foreseeable future and matches the outlook on Spain's sovereign
rating, which is an important driver of Fitch's assessment of the
operating environment in these banks' home market.
RATING SENSITIVITIES - IDRS, VRS AND SENIOR DEBT
These banks' IDRs are primarily sensitive to changes to their VRs.
Both banks' VRs could be upgraded if the operating environment
improves, which would likely be reflected by an upgrade of the
Spanish sovereign rating linked to better macro-economic
conditions, while foreign markets remain resilient. Fitch
believes this would ultimately contribute to further improvements
in profitability, asset quality and capitalisation of their parent
banks.
In Fitch's view, there is more upside potential for Santander's
ratings than BBVA's given the former's more pronounced
diversification towards higher-rated sovereigns. Santander's
ratings are currently constrained by the operating environment of
Spain and may therefore also benefit most from further
improvements thereof. Any positive rating action on the Spanish
sovereign would not automatically trigger an upgrade of these
banks' VRs (and hence IDRs). For Santander, this would also,
among other factors, depend on trends in asset quality and
capitalization, international subsidiaries' performance and
developments regarding the fungibility of capital and liquidity
within the group. In the case of BBVA, a VR upgrade would also be
subject to the economic conditions of the main emerging countries
in which it operates and progress with the integration of recently
acquired businesses.
While currently seen as unlikely by Fitch, both banks' ratings
could be adversely affected by a weakening of the operating
environment, possibly evidenced by a downgrade of Spain's
sovereign rating; marked asset quality deterioration, for example
due to unforeseen shocks in international subsidiaries that
translate into significant pressures on local and/or group
earnings and capital. Evidence of an inability to sustainably
access either local or international wholesale markets would also
put pressure on these banks' ratings.
KEY RATING DRIVERS AND SENSITIVITIES - SUPPORT RATING AND SUPPORT
RATING FLOOR
The SR and SRF reflect Fitch's view that senior creditors of
Santander and BBVA cannot rely on receiving full extraordinary
support from the sovereign in the event that they become non-
viable. In Fitch's view, the EU's Bank Recovery and Resolution
Directive (BRRD) and Single Resolution Mechanism (SRM) are now
sufficiently progressed to provide a framework for resolving banks
that is likely to require senior creditors participating in
losses, if necessary, instead of or ahead of a bank receiving
sovereign support.
Any upgrade to the SR and upward revision to the SRF would be
contingent on a positive change in the sovereign's propensity to
support its banks. While not impossible, this is highly unlikely
in Fitch's view.
KEY RATING DRIVERS AND SENSITIVITIES - SUBORDINATED DEBT AND OTHER
HYBRID SECURITIES
Subordinated debt and other hybrid capital issued by Santander,
BBVA and their issuing vehicles are all notched down from their
respective VRs in accordance with Fitch's assessment of each
instrument's respective non-performance and relative loss severity
risk profiles, which vary considerably. Their ratings are
primarily sensitive to any change in the respective VRs of
Santander and BBVA.
KEY RATING DRIVERS AND SENSITIVITIES - STATE-GUARANTEED DEBT
BBVA's state-guaranteed debt has been affirmed, in line with the
affirmation of the bank's Long-term IDR. Catalunya Banc, S.A.'s
state-guaranteed debt issues have been upgraded to 'A-' from
'BBB+', in line with BBVA's Long-term IDR; and removed from Rating
Watch Positive (RWP) following completion of the acquisition of
the former's assets and liabilities by BBVA in April 2015. State-
guaranteed debt issues are senior unsecured instruments that bear
the full guarantee of Spain. These state-guaranteed debt ratings
are aligned with the higher of BBVA's or Spain's IDRs and are
sensitive to changes to these IDRs.
The rating actions are:
Santander
Long-term IDR: affirmed at 'A-'; Outlook Stable
Short-term IDR: affirmed at 'F2'
VR: affirmed at 'a-'
Support Rating: affirmed at '5'
Support Rating Floor: affirmed at 'No Floor'
Senior unsecured debt long-term rating and certificates of
deposit: affirmed at 'A-'
Senior unsecured debt short-term rating, commercial paper and
certificate of deposits: affirmed at 'F2'
Market-linked senior unsecured securities: affirmed at 'A-emr'
Subordinated debt: affirmed at 'BBB+'
Preference shares: affirmed at 'BB'
Santander International Debt, S.A. Unipersonal
Senior unsecured debt long-term rating: affirmed at 'A-'
Senior unsecured debt short-term rating: affirmed at 'F2'
Market-linked senior unsecured securities: affirmed at 'A-emr'
Santander Issuances S.A.
Subordinated debt long-term rating: 'BBB+'
Santander International Preferred, S.A. Unipersonal
Preference shares: affirmed at 'BB'
Santander Commercial Paper, S.A. Unipersonal
Commercial paper: affirmed at 'F2'
Santander Finance Capital, S.A. Unipersonal
Preference shares: affirmed at 'BB'
Santander Finance Preferred, S.A. Unipersonal
Preference shares: affirmed at 'BB'
Santander Financial Issuance Ltd.
Subordinated debt: affirmed at 'BBB+'
Santander Perpetual, S.A. Unipersonal
Upper Tier 2 debt: affirmed at 'BBB-'
Santander US Debt, S.A.U.
Senior unsecured debt long-term rating: affirmed at 'A-'
Emisora Santander Espana, S.A.U.
Senior unsecured debt long-term rating programme: affirmed at
'A-'
Senior unsecured debt short-term rating programme: affirmed at
'F2'
Santander International Products PLC
Senior unsecured debt long-term rating: affirmed at 'A-'
BBVA
Long-term IDR: affirmed at 'A-'; Outlook Stable
Short-term IDR: affirmed at 'F2'
VR: affirmed at 'a-'
Support Rating: affirmed at '5'
Support Rating Floor: affirmed at 'No Floor'
Senior unsecured debt long-term rating: affirmed at 'A-'
Senior unsecured debt short-term rating and commercial paper:
affirmed at 'F2'
Subordinated debt: affirmed at 'BBB+'
Upper Tier 2 debt: affirmed at 'BBB-'
Preference shares: affirmed at 'BB'
State-guaranteed debt: affirmed at 'A-'
BBVA Capital Finance, S.A. Unipersonal
Preference shares: affirmed at 'BB'
BBVA International Preferred, S.A. Unipersonal
Preference shares: affirmed at 'BB'
BBVA Senior Finance, S.A. Unipersonal
Senior unsecured debt long-term rating: affirmed at 'A-'
Senior unsecured debt short-term rating and commercial paper:
affirmed at 'F2'
BBVA U.S. Senior, S.A. Unipersonal
Senior unsecured debt long-term rating: affirmed at 'A-'
Senior unsecured debt short-term rating and commercial paper:
affirmed at 'F2'
BBVA Subordinated Capital, S.A. Unipersonal
Subordinated debt: affirmed at 'BBB+'
Banco Bilbao Vizcaya Argentaria S.A. New York Branch
Certificate of deposits debt long-term: affirmed at 'A-'
Catalunya Banc, S.A.
State guaranteed debt: upgraded to 'A-' from 'BBB+', removed from
RWP
EUR221.5m, issued in June 2010, maturing in June 2015, floating
rate, ISIN code: ES0315346090
EUR31.5m, issued in June 2010, maturing in June 2015, fixed rate
4.24%, ISIN code ES0315346082
CAIXA GERAL: Fitch Lowers IDR to 'BB-', Outlook Stable
------------------------------------------------------
Fitch Ratings has downgraded Caixa Geral de Depositos, S.A.'s
(CGD) Long-term Issuer Default Rating (IDR) to 'BB-' from 'BB+'.
The Outlook is Stable. At the same time it has downgraded the
Support Rating (SR) to '4' from '3' and revised the Support Rating
Floor (SRF) to 'B' from 'BB+'.
The rating actions are in conjunction with Fitch's review of
sovereign support for banks globally, which the agency announced
in March 2014. In line with its expectations announced in March
last year and communicated regularly since then, Fitch believes
legislative, regulatory and policy initiatives have substantially
reduced the likelihood of sovereign support for US, Swiss and
European Union commercial banks.
The downgrade of CGD's SR to '4' and the downward revision of its
SRF to 'B' reflect Fitch's downward adjustment of the probability
of extraordinary support being provided to the bank, if needed
from the bank's sole shareholder, the Portuguese state. Fitch
believes that in the event of severe stress, there would be
significant uncertainties about the adequacy of support being made
available because of potential limitations arising from the EU
Bank Recovery and Resolution Directive (BRRD) and EU state-aid
considerations.
In addition, BRRD will give resolution authorities (the Single
Resolution Mechanism (SRM) Board from 2016) a broad suite of
powers and tools to take resolution action on CGD, if necessary or
appropriate, despite full ownership by the Portuguese state and
its sizeable market positions.
As a result of the revision to the SRF, the bank's Long-term IDR
is now driven by its standalone creditworthiness, as expressed in
its Viability Rating (VR). The VR has been affirmed today. Fitch
has downgraded the bank's senior debt issues in line with its
Long-term IDR.
This rating action follows rating action on a number of privately-
owned Portuguese banks earlier this week, whose SRs were
downgraded to '5' and SRFs revised to 'No Floor'.
The Portuguese banking system is continuing its path towards
stabilization, particularly for asset quality indicators, and is
gradually returning to profitability, supported by improved macro-
economic trends. Fitch expects GDP growth of 1.5% in 2015 and a
steady decline in unemployment to 13.8%. While Fitch expects
problematic assets for the system to peak in 2015, meaningful
improvements will take time to materialize as the stock of
problematic assets is large. Fitch expects banks' profitability
to be supported by lower funding costs, particularly for deposits,
a reduction of domestic overheads, income from international
operations and declining impairments. However, profitability will
remain subdued due to low interest rates, asset de-risking and
declining loan spreads.
KEY RATING DRIVERS - IDRS, VR AND SENIOR DEBT
CGD's ratings reflect the bank's poor, though improving, core
profitability, and weak asset quality indicators. The bank has
been reporting losses since 2011. In 2014, the bank improved its
pre-impairment operating profitability to an average 0.5% of
assets, partly supported by financial market operations but this
was not enough to offset its still high impairment provisions.
Its credit at risk/loans ratio was 12.2% at end-2014, with
coverage of almost 60%. The ratings also take into account the
bank's leading retail franchise in Portugal, and improving
funding, liquidity and capital levels. CGD's Fitch core capital
(FCC)/weighted risks ratio improved to 9.2% at end-2014 from 8.6%
at end-2013 and, including the state's EUR900 million cocos, its
Fitch eligible capital was 10.7% at end-2014. However, net
problematic assets represented a high 100% of capital in 2014.
The Stable Outlook on CGD reflects the stabilization of its risk
profile, particularly asset quality indicators and the ratio of
net problematic assets-to- capital, which have started to show
some improvements.
RATING SENSITIVITIES - IDRS, VR AND SENIOR DEBT
CGD's IDR and senior debt ratings are sensitive to a change in the
bank's VR. Upward rating potential would arise from a sustained
reduction in problem assets while preserving capital as well as
enhancing core profitability. A continued improvement of the
operating environment should support business volumes, benefit
asset quality and a reduction in impairment charges. This would
ultimately benefit profitability and internal capital generation.
Downward rating pressure would primarily come from a further
deterioration in asset quality and sustained losses.
The bank's ratings are also sensitive to the conclusion of the
sale process of NovoBanco and potential related costs and capital
impact, if any.
KEY RATING DRIVERS AND SENSITIVITIES - SUPPORT RATING AND SUPPORT
RATING FLOOR
The '4' SR and 'B' SRF of CGD reflect Fitch's opinion that there
remains a limited probability of extraordinary support being
provided to CGD by the Portuguese state without the bail-in of
senior creditors. This potential support is based on full and
willing state ownership and CGD's market-leading position in the
Portuguese market.
Any upgrade to the SR and upward revision to the SRF of the bank
would be contingent on a positive change in the sovereign's
propensity to support it. While not impossible, this is highly
unlikely in Fitch's view.
KEY RATING DRIVERS AND SENSITIVITIES - SUBORDINATED DEBT AND OTHER
HYBRID SECURITIES
Subordinated debt and other hybrid capital issued by CGD are
notched down from the VR in accordance with Fitch's assessment of
each instrument's respective non-performance and relative loss
severity risk profiles, which vary considerably. Their ratings
are primarily sensitive to changes in the VR.
KEY RATING DRIVERS AND SENSITIVITIES - SUSBIDIARIES AND AFFILIATED
COMPANIES
The ratings of Caixa Banco de Investimento (Caixa - BI) are
equalized with those of its 100% parent. Under Portugal's
corporate law, CGD is liable for the obligations of its wholly
owned subsidiaries.
The equalization is driven by the integration of Caixa - BI within
the parent bank and the benefits derived from parent support.
Fitch does not assign a VR to the institution as the agency does
not view it as independent entity. The ratings of Caixa-BI are
sensitive to rating actions on CGD's IDR.
CGD North America Finance LLC is a financing vehicle of CGD whose
commercial paper debt ratings are aligned with CGD's because of
the guarantee in place and whose ratings are sensitive to the same
factors that might drive a change in CGD's IDR.
The rating actions are:
CGD:
Long-term IDR: downgraded to 'BB-' from 'BB+'; Outlook Stable
Short-term IDR: affirmed at 'B'
Viability Rating: affirmed at 'bb-'
Support Rating: downgraded to '4' from '3'
Support Rating Floor: revised to 'B' from 'BB+'
Senior unsecured debt long-term rating downgraded to 'BB-' from
'BB+'
Senior unsecured debt short-term rating affirmed at 'B'
Senior unsecured certificate of deposit long-term rating
downgraded to 'BB-' from 'BB+'
Senior unsecured certificate of deposit short-term rating affirmed
at 'B'
Commercial paper programme affirmed at 'B'
Lower Tier 2 subordinated debt affirmed at 'B+'
Preference shares affirmed at 'B-'
Caixa - BI:
Long-term IDR: downgraded to 'BB-' from 'BB+'; Outlook Stable
Short-term IDR: affirmed at 'B'
Support Rating: affirmed at '3'
CGD North America Finance LLC
Commercial paper programme affirmed at 'B'
CAJAS RURALES: Fitch Lowers Issuer Default Rating to 'BB-'
----------------------------------------------------------
Fitch Ratings has downgraded Cajas Rurales Unidas Sociedad
Cooperativa de Credito's (CRU; BB-/Stable/bb-) mortgage covered
bonds (Cedulas Hipotacarias or CH) to 'BBB' from 'BBB+' and its
public sector covered bond (Cedulas Territoriales or CT) to 'BBB-'
from 'BBB'. The Outlook on the ratings of CRU's CH and CT is
Stable.
These rating actions follow the downgrade of CRU's Long-term
Issuer Default Ratings (IDR) to 'BB-' from 'BB', in line with
Fitch's expectation of reduced likelihood of sovereign support for
banks.
KEY RATING DRIVERS
CRU's CH and CT
The CH's rating is based on CRU's IDR of 'BB-', an IDR uplift of 1
and a three-notch uplift supported by our expectation of
outstanding recoveries greater than 91% in the event of CH
defaulting. The IDR uplift reflects the exemption of CHs from
bail-in and Fitch's view that Spain is a covered bond-intensive
jurisdiction.
The CH's rating is also supported by the 115.5%
overcollateralization (OC) that Fitch takes into account in its
analysis, which provides more protection than the 44.5% breakeven
OC for the rating.
The breakeven OC is mainly driven by an asset disposal loss
component of 31.4%, attributable to high refinancing spreads of
4.8% per annum applied to estimate the cover pool liquidation
value under a stress scenario, and a stressed cover pool credit
loss rate of 28.2%. When determining the relied-upon OC, as per
criteria, Fitch takes into account the lowest OC of the last 12
months (164.8%) and applies a 30% haircut to compensate for
potential volatility, in line with the bank's Short-term IDR of
'B'.
The CT rating is driven by CRU's IDR of 'BB-', an unchanged IDR
uplift of zero and a three-notch recovery uplift. Such recovery
uplift is supported by the expectation of recoveries in excess of
91% in the event of CT defaulting, given the 42.8% relied-upon OC
considered by Fitch in its analysis, which is the legal minimum in
Spain. The 42.8% 'BBB-' breakeven OC is mainly driven by an asset
disposal loss component of 31.9%, and a cover pool credit loss
rate of 22.1%.
The Discontinuity Cap (D-Cap) assessment for both of CRU's covered
bond programs is zero, reflecting Fitch's 'full discontinuity'
assessment for the liquidity gap and systemic risk component.
RATING SENSITIVITIES
The covered bond programs are vulnerable to a downgrade if the
bank's Long-term IDR is downgraded or if the relied-upon OC is
lower than the breakeven OC for the respective ratings. In the
case of CRU's CH this could also occur if the IDR uplift is
reduced to '0'. For mortgage covered bonds, if the OC that Fitch
considers in its analysis drops to the legal minimum of 25%, a
one-notch downgrade would most likely take place.
=====================
S W I T Z E R L A N D
=====================
VISTAJET GROUP: Fitch Assigns 'B' Long-Term Issuer Default Rating
-----------------------------------------------------------------
Fitch Ratings has assigned VistaJet Group Holding SA (VistaJet), a
global business jet owner and operator, a Long-term Issuer Default
Rating (IDR) of 'B'. The Outlook on the IDR is Stable.
At the same time we have assigned an expected senior unsecured
rating of 'B(EXP)/RR4' to a proposed USD300 million notes to be
issued by VistaJet Malta Finance P.L.C. and VistaJet Co Finance
LLC and guaranteed by VistaJet and its key subsidiaries. The final
rating of the bond is contingent upon the receipt of final
documentation conforming materially to information already
received.
The rating reflects VistaJet's business profile as one of the
largest global business jet owner-operators, albeit in a
fragmented market, aggressive growth strategy, high profitability
levels as well as a leveraged financial profile. The Stable
Outlook reflects our expectation of continued growth in revenues
and profitability driven by fleet growth and higher fleet
utilization. Growth will be funded largely by debt, resulting in
sustained high, albeit gradually improving, leverage over the
medium term.
KEY RATING DRIVERS
Largest Global Owner-Operator
VistaJet is one of the largest business jet owner-operators in the
world and the largest globally active operator. However, it
represents only a tiny fraction of total business jet ownership
worldwide due to the highly fragmented market, offering some scope
for consolidation.
Strong Customer Offering
VistaJet provides both on-demand and long-term flight solutions
for corporates and high net worth individuals. Fitch assumes that
the latter segment will grow at over 5% per year, resulting in a
broadening demand base for business jet services. Fitch believes
VistaJet's customer offering, with round-the-clock availability of
tailored flight services of a high and uniform quality, global
coverage and usage-based pricing without the asset risk of owning
an aircraft, is a competitive advantage in its market.
Solid Business Model
At the same time, the business model is highly scalable due to
some visibility in earnings from contracted revenues (typically
over 50%), a highly variable cost base and limited need for ground
assets in the form of equipment or manpower. This in part reflects
a young, single manufacturer (Bombardier, 'B+'/Negative) fleet
under long-term warranty.
In addition, fuel cost is effectively passed onto customers and
labor is not unionized. There is some customer concentration in
the contracted business, but overall revenues are well diversified
with customers prepaying in almost all instances.
The business model supports high profitability per flight and thus
strong EBITDA margins, especially compared with commercial
airlines.
Debt-Funded Growth
All of VistaJet's aircraft were debt-funded and on-balance sheet
with a small equity component as at end-2014. The issue of senior
unsecured debt will result in some aircraft assets being
unencumbered by security. Given the long service life of aircraft
compared with annual earnings (asset intensity), the leverage
multiples at VistaJet are high.
Further, VistaJet has an aggressive growth strategy which will
lead to continued increase in debt at levels above internal cash
generation, even if we assume that the company will be successful
in turning the additional capacity into revenue growth.
High Leverage, Key Man Risk
High initial leverage will limit VistaJet's ability to reduce debt
in absolute terms although we expect some improvement in leverage
multiples due to growth in earnings. High leverage, external
funding needs (especially while strong growth continues) and high
annual debt amortization constrain the ratings.
"We assume that the company will continue with its zero dividend
policy. The company is subject to key man risk, since the owner of
VistaJet and its Chairman are also a key customer and manufacturer
contact. However, VistaJet has established the management and
operational capability to support the planned increase in fleet
size."
LIQUIDITY AND DEBT STRUCTURE
"We view VistaJet's liquidity position as satisfactory, but in
need of continued availability of external funding. At end-2014,
VistaJet had readily available cash & cash equivalents of USD24.3
million which compared with short-term debt of USD201.3 million,
including USD178.8 million of finance lease liabilities. VistaJet
funds almost all of its aircraft assets through finance leases,
which have a regular amortisation schedule. We view the company's
interest rate and FX risk exposure as manageable."
The proposed notes' rating reflects our assumption of average
recovery prospects, supported by over USD300m of unencumbered
assets (seven aircraft) and generally strong residual values on
the fleet.
KEY RATING ASSUMPTIONS
Fitch's key assumptions within our rating case for the issuer
include:
-- Number of aircraft in operation at the end of 2015, 2016 and
2017 of 54, 72 and 92 respectively.
-- Steady revenue per hour (aircraft only) compared with 2014.
-- Continued on-balance sheet funding of new aircraft through
finance leases and the planned unsecured bond.
-- Variable costs such as fuel, ground handling, catering, etc.
to grow in line with growth in total hours flown.
-- No dividends pay out.
RATING SENSITIVITIES
Negative: Future developments that could lead to negative rating
action include:
-- Funds from operations (FFO) gross leverage sustainably above
8.0x (2014: 8.7x), decline in FFO interest below 2.0x
(3.8x), or reduction in the company's contracted revenues to
below 40% of total revenues (56%).
Positive: Future developments that could lead to positive rating
action include:
-- FFO gross leverage consistently lower than 6.0x, FFO interest
above 3.0x along with no significant deterioration in the
company's premium profit margins and high revenue visibility.
=============
U K R A I N E
=============
METINVEST BV: Moody's Says US$114MM Missed Payment Is Credit Neg
----------------------------------------------------------------
Moody's Investors Service said that it views as credit negative
Metinvest B.V. (Metinvest, Caa3 negative) not repaying $114
million outstanding 10.25% notes maturing on May 20, 2015.
However, Moody's notes that this missed payment has no immediate
impact on the company's Caa3 corporate family rating (CFR), D-PD
probability of default rating (PDR), or negative outlook. Current
ratings reflect the company's continuing default on its debt
obligations.
On May 20, 2015 Metinvest did not repay the outstanding principal
on its US$114 million 10.25% notes, which matured on that day.
This non-payment was anticipated following the previous consent
solicitation launched in April 2015 as the company indicated it
didn't have sufficient sources to repay its debt in due course.
There is no remedy period available for non-payment of the
principal according to the terms and conditions of 2015 notes.
Non-payment is credit negative for the company as the company's
notes maturing in 2015, 2017 and 2018 and PXF contain cross
default provisions with any indebtedness in aggregate exceeding
US$50 million. The PXF loans and the notes in aggregate comprise
the bulk of the company's outstanding indebtedness. As of
March 31, 2015 the company had about US$1.1 billion, US$1.2
billion, US$0.3 billion, US$0.4 billion and US$90 million of
outstanding principal under its PXF facilities, Eurobonds, trade
finance facilities, related-party borrowings, and seller's notes,
respectively.
Prior to that, on May 7, 2015, the company announced that it had
commenced consent solicitations in respect of its outstanding
2015, 2017 and 2018 notes seeking to defer maturity of its
remaining May 2015 notes to January 31, 2016, to make certain
amendments to the terms and conditions of the 2017 and the 2018
notes and to approve the waiver of certain ongoing and potential
events of default in relation to 2015, 2017 and 2018 notes,
including the failure to pay the principal that was due and
payable on May 20, 2015. The suggested amendments will be
considered at a meeting of noteholders, which will be held on June
1, 2015.
On April 8, 2015, the company announced that it had defaulted on a
US$113 million payment due under its pre-export financing facility
(PXF) in March 2015, which triggered the downgrade of the
company's PDR rating to D-PD from Caa3-PD on April 10, 2015. A
payment default under the PXF facilities in the total amount of
approximately US$178 million is continuing currently. Further debt
repayments under the PXF facilities totaling approximately $549
million are due by Jan. 31, 2016, and Metinvest does not expect to
be able to make such payments in full. The company started
negotiating a standstill and waiver agreement with a coordinating
committee of its PXF lenders, which was set up on 5 May 2015,
targeting a combined solution for rescheduling the maturities of
the PXF facilities and the outstanding Eurobonds.
The company's liquidity profile remains very weak. As at mid-April
2015, Metinvest had unrestricted cash and cash equivalents of
about US$130 million. The company's outstanding debt as of
February 28 was about US$3.1 billion with 2015, 2016, 2017 and
2018 principal maturities of about US$1.3 billion, US$0.6 billion,
US$0.6 billion and Us$0.8 billion, respectively.
Metinvest B.V., registered in the Netherlands, is the holding
company of a vertically integrated group, Metinvest, which is one
of the largest steelmakers and iron ore producers in the
Commonwealth of Independent States (CIS). Metallurgical segment of
the company comprises three iron and steel plants with the
capacity to produce approximately 15 million tonnes (mt) of crude
steel annually, equivalent to approximately 55% of all steel cast
in Ukraine in 2014, a rolling mill and a large diameter pipe mill
in Ukraine, and also has rolling mills in Italy, Bulgaria and the
UK. Mining segment of the company comprises iron ore mines, all of
which are located in Ukraine, and coal mines located in Ukraine
and the US. The company produces finished flat- and long-steel
products, large diameter pipes and semi-finished steel products
(slabs and billets), pig iron and coke products, iron ore and
coking coal concentrate as well as pellets. In 2014, Metinvest
produced 9.2 mt (2013: 12.4 mt) of crude steel, and 34.9 mt (2013:
36.9 mt) of iron ore concentrate, and 4.1 mt (2013: 5.5 mt) of
coking coal concentrate. In 2014, Metinvest reported revenue of
$10.6 billion (2013: $12.8 billion) and EBITDA of $2.7 billion
(2013: $2.4 billion). In 2014, around 24% (2013: 29%) of the
company's external sales were in Ukraine, with the remainder
generated in Europe, the Middle East, North Africa, Southeast
Asia, the CIS (except Ukraine) and North America.
The company is privately owned: the major shareholders of the
group are a Ukrainian investment holding company, System Capital
Management (SCM), with a 71.24% share in Metinvest, and Smart
group, which owns 23.76%.
===========================
U N I T E D K I N G D O M
===========================
FITNESS FIRST: Still Counting Cost of Falling Into Administration
-----------------------------------------------------------------
Sarah Bridge at Daily Mail reports that Fitness First has just
opened one of the world's most expensive gyms, but it is still
counting the cost of rescuing the company from falling into
administration in 2012.
The 377-strong fitness chain, which is majority-owned by Oaktree
Capital Management, recorded a slight decline in turnover to
GBP469.4 million in the year to October 31, 2014, as a result of
gym closures and currency fluctuations, according to Daily Mail.
The report notes that the operating costs and GBP43.6million in
interest payments resulted in an overall pre-tax loss of
GBP35.7million.
However, the pre-tax loss figure is almost half the previous
year's loss of GBP62.5 million, the report relates. The company
said that 2014 was a 'year of investment' and it was on track with
its three-year, GBP200 million turnaround program, the reports
notes.
INTERNATIONAL PERSONAL: Fitch Affirms BB+ Issuer Default Rating
---------------------------------------------------------------
Fitch Ratings has affirmed International Personal Finance Plc's
(IPF) Long-term Issuer Default Rating (IDR) at 'BB+', Short-term
IDR at 'B' and senior unsecured debt at 'BB+'. The Outlook on the
IDR is Stable.
KEY RATING DRIVERS
IPF's IDRs are driven by the group's proven track record in its
unsecured home-collected lending business over the economic cycle,
supported by its strong capitalization and modest leverage. The
ratings also reflect the risks stemming from the unsecured nature
of its lending, as well as the high credit, operational and FX
risks arising from its presence in and exposure to emerging
markets.
Furthermore the ratings factor in the group's limited funding
diversification and its modest business scale in its more recently
entered markets. Risks arising from continued regulatory scrutiny
into the high-cost credit business and heightened political focus
on consumer protection could also put negative pressure on the
ratings.
IPF's performance remained sound in 2014, notwithstanding slower
revenue growth in the second half of the year. Revenues grew 13%
on a year-on-year basis at constant exchange rates, driven by
business expansion in all operating markets, but mostly by the
developing markets of Mexico (22% growth yoy), Romania and
Bulgaria (19% yoy) as well as the group's most established market,
Poland (10% yoy). Fitch expects the home-collected unsecured
businesses in IPF's longer-standing countries of operation to
remain the greatest contributors to profit before tax in the near
term, notwithstanding the groups continued efforts in market and
product diversification.
In February 2015 IPF completed the acquisition of MCB Group (MCB),
a consumer finance company that provides credit solutions under
various brands in the Baltic countries, Finland and Australia
servicing around 91 thousand retail customers. In Fitch's view,
this acquisition is neutral to the ratings as MCB's business only
accounts for around 6% of the group's receivables and the
potential benefits from geographical and product diversification
and costs savings are at this stage in part offset by integration
and execution risks.
Significant arrears are a feature of IPF's business model, but are
adequately provided for. Impairments as a proportion of revenues
have remained stable and within the group's targeted ratio of 25%-
30%. Risk appetite is high compared with high street banks but is
adequate for the group's risk profile and priced accordingly.
Despite strong receivables growth in recent years and a relaxation
of credit standards in some markets, the group has been able to
maintain its level of impaired receivables to gross revenues at
28%, reflecting robust risk controls and policies.
Funding to support IPF's business expansion remains fully reliant
on the wholesale market, as the group has no access to retail
deposits. Refinancing risk remains a key issue in the group's
financial profile, although it is somewhat mitigated by the short
duration of the lending products and the company's track record in
accessing wholesale funding at any point in the cycle in all its
operating markets. IPF took further steps in 2014 to mitigate
refinancing risk, while at the same time improving its maturity
profile. This was achieved by extending its revolving credit
facilities an additional two years, by refinancing and extending
its eurobond maturity and by completing a EUR40 million new issue
of corporate bonds to supplement the GBP102 million retail bond
already in place. IPF's liquidity is adequate as it had available
funding headroom of GBP170 million at end-2014.
At end-2014, the group reviewed its existing targeted
equity/receivables ratio of 45% and set a new target of 40%.
However, Fitch continues to view this level as comfortable.
RATING SENSITIVITIES
Upside potential to the IDRs is limited in the short- to medium-
term given IPF's fairly undiversified funding structure, limited
revenue diversification and significant risks from unsecured
lending in emerging markets.
Downside pressure in the short-term is not envisaged by Fitch.
However, a meaningful deterioration in IPF's funding and liquidity
position, increased arrears volumes that negatively affect
profitability and put pressure on capital, or threats to the
business model arising from higher regulatory scrutiny could all
put downward pressure on ratings
The senior debt rating is driven by IPF's Long-term IDR and is
sensitive to any change in it.
MCLEOD BUILDING: In Liquidations, Cuts 30 Jobs
----------------------------------------------
David Kerr at Press and Journal reports that GBP1 million hole has
been left in the north economy after the family-owned firm McLeod
Building, which has been trading for more than 100 years, went
into liquidation.
More than 30 jobs have been lost at Grantown-based McLeod Building
which crashed just days after unveiling plans for nearly 50 new
homes in the Speyside town, according to Press and Journal.
The report notes that Glasgow-based firm Gerber, Landa and Gee has
been appointed to handle the voluntary liquidation.
And it said the impact on the local economy would be "potentially
devastating", the report relates.
The building firm had been run by three generations of the McLeod
family, the report discloses.
Brothers Donly, Robbie, and Billy, were the directors when the
liquidators were called in.
Managing Director Robbie McLeod said he was distraught about the
loss of the company and added that he hoped a buyer could be
found, the report relates.
The firm had 35 employees, including the directors.
Gerber, Landa and Gee will hold a meeting with McLeod Building's
creditors early next month and surveyors have been asked to
examine the existing contracts held by the company, the report
discloses.
Nominated liquidator Tom Hughes said it would have been
"irresponsible" for the firm to continue trading, the report
relays.
The report notes that Mr. Hughes said: "They have been a
substantial employer for the area, a family firm which has been in
business for a very long time.
"The truth is that since the economic crisis they have been
struggling to make ends meet and there has been a regular struggle
with cash flow. We are asked to look at their position but in
reality cash is too tight to continue. It would have been
irresponsible to continue trading," the report quoted Mr. Hughes
as saying.
The report notes that Mr. Hughes said: "I would say that it has
the potential to be devastating for the local area. I would
estimate that it will take at least Ćŗ1million out of the local
economy."
"This has been a very sound business financially in the past but
really since 2008, it has become more and more difficult. They
have fought it for as long as they could. Out of London and
certainly north of the border, the recession has never gone away
for building companies," Mr. Hughes added.
The firm, which is described as "no ordinary building company" on
its website, provided architectural services, as well as building
from new and renovating older properties.
RANGERS FC: FIFA Insists It is the Same Amid Liquidation Woes
-------------------------------------------------------------
Daily Record reports that FIFA have stepped into The Rangers
Football Club PLC argument by announcing that the Ibrox side is
the same club.
Following the reign of Craig Whyte, Rangers were relegated to the
bottom tier of Scottish football after the operating company's
liquidation with many Scottish football fans saying Rangers are a
new club and calling them Sevco - in reference to the name of the
company Charles Green set up to run the club, with Celtic fans
even paying for an advert in a newspaper to state that Rangers are
a new club, according to Daily Record.
But FIFA have now rejected those claims as they promote the latest
edition of their weekly magazine saying: "After their enforced
relegation in 2012, Glasgow Rangers are in the hunt for promotion
back to Scotland's top flight," the report relays.
The report notes that the statement comes a matter of months after
SPFL Chief Neil Doncaster also stated that Rangers are the same
club when he said: Doncaster said: "In terms of the question about
old club, new club, that was settled very much by the Lord Nimmo
Smith commission that was put together by the SPL to look at EBT
payments at that time.
"The decision, very clearly from the commission, was that the club
is the same, the club continues, albeit it is owned by a new
company, but the club is the same. It's the same club,
absolutely," the report quoted Mr. Doncaster as saying.
"The member club is the entity that participates in our league and
we have 42 member clubs. Those clubs may be owned by a company,
sometimes it's a Private Limited Company, sometimes it's a PLC,
but ultimately, the company is a legal entity in its own right,
which owns a member club that participates in the league." Mr.
Doncaster said, the report relays.
"It was put to bed by the Lord Nimmo Smith commission some while
ago ? it's the same club," Mr. Doncaster added.
About Rangers Football Club
Rangers Football Club PLC -- http://www.rangers.premiumtv.co.uk/
-- is a United Kingdom-based company engaged in the operation of
a professional football club. The Company has launched its own
Internet television station, RANGERSTV.tv. The station combines
the use of Internet television programming alongside traditional
Web-based services. Services offered include the streaming of
home matches and on-demand streaming of domestic and European
games, which include dedicated pre-match, half-time and post-
match commentary. The Company will produce dedicated news
magazine and feature programs, while the fans can also access a
library of classic European, Old Firm and Scottish Premier League
(SPL) action. Its own dedicated television studio at Ibrox
provides onsite production, editing and encoding facilities to
produce content for distribution on all media platforms.
REDCLIFFE MAGTRONICS: Goes Into Administration
----------------------------------------------
Machinery Market reports that Redcliffe Magtronics has gone into
administration following "a dramatic reduction in orders" due to
the drop in oil prices.
Paul Wood and Gilbert Lemon of financial services firm Smith &
Williamson were appointed as joint administrators to the
engineering support business on April 29.
At present, the Bristol-based company is continuing to trade in
order to supply key customers, and this is expected to last until
October, according to Machinery Market. Nine members of staff
have been retained to run the business, but 16 have been made
redundant, the report relays.
The administrators are said to be in touch with customers who have
expressed an interest in hiring some of the former employees, the
report notes.
The report relays that a statement from Smith & Williamson said:
"Redcliffe Magtronics was trading profitably and successfully for
many years as a specialist high-performance engineering company.
However, in the first quarter of 2015, the company suffered a
dramatic reduction in orders. Its major customers attribute this
in part to the reduction in the oil and gas price and the knock-on
effect this has had in delaying contracts. This severe reduction
in orders meant that Redcliffe Magtronics faced critical cash-flow
pressures that resulted in the appointment of administrators."
TITAN EUROPE 2007-1: S&P Lowers Rating on Class A Notes to CCC-
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered to 'CCC- (sf)' from
'B- (sf)' its credit rating on Titan Europe 2007-1 (NHP) Ltd.'s
class A notes. At the same time, S&P has affirmed its 'D (sf)'
ratings on the class B, C, D, and E notes. S&P has subsequently
withdrawn its ratings on these five classes of notes due to the
lack of sufficient information required to perform its on-going
surveillance of the transaction.
In November 2014, S&P is informed that the disposal of the
borrower group had been completed in order to maximize recoveries
on the Libra loan. Following the completion of the escrow period
and the determination of costs, expenses, and adjustments relating
to the disposal of the loan, the special servicer made a final
recovery determination of GBP459,424,232.
According to the January 2015 interest payment date (IPD) cash
manager report, the issuer applied, after senior costs, a partial
distribution of GBP200 million (GBP193.7 million principal payment
and GBP6.3 million interest payment) to the class A notes, and
withheld GBP237.5 million pending the resolution of the
application of funds due on the class A notes relative to payments
due to the forward swap provider under the priority of payments.
Furthermore, the January 2015 cash manager's report noted that the
issuer failed to meet its accrued interest payment obligations
under the class B, C, D, and E notes.
Since the January IPD, S&P has been informed, by way of a special
notice dated April 16, 2015, that a settlement, in principle, has
been reached between the swap provider, certain holders of the
class A notes, and other participants.
Under the proposed settlement, S&P understands that the final
payment to be made to the class A noteholders is GBP372.7 million
(inclusive of the GBP200.0 million distributed to the class A
noteholders on the January 2015 IPD). On this basis, the class A
noteholders would expect to receive an additional GBP172.7
million, which is less than the outstanding principal balance on
the notes of GBP214.3 million.
S&P's ratings on Titan Europe 2007-1 (NHP)'s notes address the
timely payment of interest quarterly in arrears, and the payment
of principal no later than the legal final maturity date in
January 2017.
S&P believes that the likelihood that the class A notes will
experience principal losses has increased to at least a one-in-two
likelihood of default.
S&P has therefore lowered to 'CCC- (sf)' from 'B- (sf)' its rating
on the class A notes in accordance with its criteria assigning
'CCC' category ratings.
The class B, C, D, and E notes continue to experience interest
shortfalls. In addition, the class D and E notes now also have
non-accruing interest amounts allocated to them. S&P has
therefore affirmed its 'D (sf)' ratings on these classes of notes
in accordance with its "Methodology: Timeliness Of Payments: Grace
Periods, Guarantees, And Use Of 'D' And 'SD' Ratings" criteria,
published on Oct. 24, 2013.
S&P has not been provided with the cash manager report for the
April 2015 note payment date. S&P has also been informed that no
further cash manager reports will be provided for this
transaction. Therefore, S&P has subsequently withdrawn its
ratings on these five classes of notes due to the lack of
sufficient information of satisfactory quality required, both now
and at any future payment date, to perform its on-going
surveillance of the transaction.
Titan Europe 2007-1 (NHP) is a single loan transaction that closed
in 2007 and is secured on nursing homes in the U.K.
RATINGS LIST
Titan Europe 2007-1 (NHP) Ltd.
GBP610.27 mil commercial mortgage-backed variable- and floating-
rate notes
Ratings
Class Identifier To From
A 88828NAD6 CCC- (sf) B- (sf)
B 88828NAA2 D (sf) D (sf)
C 88828NAE4 D (sf) D (sf)
D 88828NAB0 D (sf) D (sf)
E 88828NAC8 D (sf) D (sf)
Ratings Subsequently Withdrawn
Titan Europe 2007-1 (NHP) Ltd.
GBP610.27 mil commercial mortgage-backed variable- and floating-
rate notes
Ratings
Class Identifier To From
A 88828NAD6 NR CCC- (sf)
B 88828NAA2 NR D (sf)
C 88828NAE4 NR D (sf)
D 88828NAB0 NR D (sf)
E 88828NAC8 NR D (sf)
NR--Not rated
===================
U Z B E K I S T A N
===================
QISHLOQ QURILISH: Moody's Lowers LT Deposit Rating to 'B2'
----------------------------------------------------------
Moody's Investors Service downgraded Qishloq Qurilish Bank's
baseline credit assessment to b3 from b2 and downgraded QQB's
long-term local-currency deposit rating to B2 from B1. Moody's has
also assigned to QQB a Counterparty Risk Assessment of B1(cr)/Not
Prime(cr).
The actions reflect (1) the impact on QQB of the publication of
Moody's revised bank methodology (see link below); and (2) QQB's
weak asset quality and moderate loss-absorption capacity.
Concurrently, Moody's has confirmed QQB's long-term B2 foreign-
currency deposit rating and assigned stable outlooks to all of the
affected long-term ratings. The short-term deposit ratings of Not-
prime were unaffected.
The actions conclude the rating agency's review initiated on March
17, 2015, which followed the publication of its revised bank
rating methodology.
The conclusion of the review was prompted by the changes arising
from the implementation of Moody's updated methodology for rating
banks globally. The revised methodology contains new aspects that
Moody's has devised in order to help accurately predict bank
failures, and to determine how each creditor class is likely to be
treated when a bank fails and enters resolution. The revisions to
the methodology reflect insights gained from the 2008-09 global
financial crisis and the fundamental shift in the banking industry
and its regulation.
In terms of the application of the new methodology, Moody's rating
actions reflect (1) the "Very Weak+" macro profile for Uzbekistan
(unrated); (2) QQB's core financial ratios; and (3) Moody's
assessment of a high likelihood of government support for QQB, in
case of need.
The downgrade of QQB's ratings reflects its weak asset quality
with high share of problem loans along with the insufficient, in
Moody's view, coverage of problem loans by loan loss reserves, and
moderate loss-absorption capacity.
According to the audited IFRS report, QQB's non-performing loans
(defined as loans more than 90+ days overdue) accounted for 13% of
gross loans as of year-end 2014 (15% in 2013). These remain
largely under-provisioned, as loan loss reserves accounted for
only 2% of gross loans reflecting the secured nature of the
mortgage loans.
Moody's notes that QQB acts as a government agent in implementing
a state mortgage program in the country's rural areas. In 2014,
QQB's residential mortgage loans grew by 40% (following 69% growth
in 2013) and accounted for almost 80.5% of its total loan
portfolio. Moody's expects that further rapid growth will sustain
pressure on already-weak asset quality.
QQB's capital adequacy will also remain challenged by rapid
lending growth. In accordance with the audited IFRS report, QQB
reported Total CAR and Tier 1 ratios of 19.8% and 13.4%
respectively as at year-end 2014. These relatively high capital
ratios, though, benefit from the low risk-weighting of loans
secured by residential properties. Moody's assesses the bank's
loss absorption as moderate, as internal capital generation is
weak and provisioning levels are low; further, the ongoing
relative strength of QQB's capital position will depend on any
additional capital contribution that its shareholders might be
willing to make.
Moody's incorporates one notch of government support uplift into
QQB's deposit ratings given the rating agency's assessment of a
high probability that the government would provide support to the
bank's deposit holders, if necessary. Moody's bases this
assessment on (1) the bank's state ownership, as the government of
Uzbekistan, holds a 74.4% direct stake and an indirect stake that
raises this to 90%; (2) QQB's socially important niche franchise;
and (3) past instances of state funding and capital support. Total
government related funds accounted for around 50% of the bank's
liabilities as at year-end 2014.
What Could Change the Ratings UP/DOWN
Upward rating momentum could develop from a significant
improvement in asset quality and loss absorption capacity.
Future downward rating pressure could emerge in the event of a
substantial deterioration in its asset quality, capital levels
and/or liquidity profile.
Following the introduction of its revised bank rating methodology
and the conclusion of the review of QQB's ratings, Moody's has
also assigned CR assessments to QQB.
CR Assessments are opinions of how counterparty obligations are
likely to be treated if a bank fails and are distinct from debt
and deposit ratings in that CR Assessments (1) consider only the
risk of default rather than the likelihood of default and the
expected financial loss suffered in the event of default; and (2)
apply to counterparty obligations and contractual commitments
rather than debt or deposit instruments. The CR assessment is an
opinion of the counterparty risk related to a bank's covered
bonds, contractual performance obligations (servicing),
derivatives (e.g., swaps), letters of credit, guarantees and
liquidity facilities.
In most cases, the starting point for the CR Assessment -- which
is an assessment of the ability to avoid defaulting on its
operating obligations -- is one notch above the bank's Adjusted
BCA, to which Moody's then adds the same notches of support uplift
as applied to deposit and senior unsecured debt ratings. As a
result, the CR Assessment for QQB is one notch higher than its
local currency deposit rating, reflecting Moody's view that
authorities are likely to honor the operating obligations the CR
Assessment refers to in order to preserve a bank's critical
functions.
The principal methodology used in these ratings was Banks
published in March 2015.
===============
X X X X X X X X
===============
* Large Companies with Insolvent Balance Sheets
-----------------------------------------------
Total
Shareholders Total
Equity Assets
Company Ticker (US$MM) (US$MM)
------- ------ ------ ------
AA LTD 2968492Z LN -3387310342 2941216446
AA PLC AAL BQ -3387310342 2941216446
AA PLC AA/ TQ -3387310342 2941216446
AA PLC AA/ IX -3387310342 2941216446
AA PLC AAAAL S1 -3387310342 2941216446
AA PLC AA/ EB -3387310342 2941216446
AA PLC 2XA GR -3387310342 2941216446
AA PLC AA/GBX EU -3387310342 2941216446
AA PLC AA/GBX EO -3387310342 2941216446
AA PLC AA/ LN -3387310342 2941216446
AA PLC 1023859D SW -3387310342 2941216446
AA PLC AAL B3 -3387310342 2941216446
AA PLC AAL S2 -3387310342 2941216446
AA PLC AAL L3 -3387310342 2941216446
AA PLC AA/EUR EU -3387310342 2941216446
AA PLC AA/EUR EO -3387310342 2941216446
AA PLC-SUB SHS 1253131D LN -3387310342 2941216446
AARDVARK TMC LTD 1768297Z LN -1779177.627 149732584.7
ABBOTT MEAD VICK 648824Q LN -1685905.65 168264096.2
ABF GRAIN PRODUC 1276922Z LN -48465868.55 670357516.4
ACCIONA INMOBILI 4029797Z SM -201626913.2 1629582757
ACEROS PARA LA 1656Z SM -263940.0005 119468482.1
ACTUACIONES ACTI AGR SM -102379482.8 427577243.8
ADRIA AIRWAYS 54757Z SV -51858436.56 134746896.3
ADRIA CABLE BV 4044453Z NA -62348693.94 188829025.3
ADVANCE DISPLAY ADTP PZ -3015579018 2590008061
ADVANCE DISPLAY ADTPEUR EO -3015579018 2590008061
ADVANCE DISPLAY ADTPEUR EU -3015579018 2590008061
AEA TECHNOLO-FPR AATF PZ -251538429 142000079.4
AEA TECHNOLO-FPR AATF LN -251538429 142000079.4
AEA TECHNOLO-NPR AATN PZ -251538429 142000079.4
AEA TECHNOLO-NPR AATN LN -251538429 142000079.4
AEA TECHNOLOGY AAT PO -251538429 142000079.4
AEA TECHNOLOGY AAT VX -251538429 142000079.4
AEA TECHNOLOGY AAT IX -251538429 142000079.4
AEA TECHNOLOGY EAETF US -251538429 142000079.4
AEA TECHNOLOGY G AATGBP EO -251538429 142000079.4
AEA TECHNOLOGY G 1005182D GR -251538429 142000079.4
AEA TECHNOLOGY G AAT LN -251538429 142000079.4
AEA TECHNOLOGY G 0884037D EO -251538429 142000079.4
AEA TECHNOLOGY G AEATF US -251538429 142000079.4
AEA TECHNOLOGY G 0884036D EU -251538429 142000079.4
AEA TECHNOLOGY G AAT PZ -251538429 142000079.4
AEGEK AGEKF US -129281233.7 283727598.7
AEGEK AEGEK GA -129281233.7 283727598.7
AEGEK AEGEK EO -129281233.7 283727598.7
AEGEK AGK GR -129281233.7 283727598.7
AEGEK AEGEK PZ -129281233.7 283727598.7
AEGEK AEGEK EU -129281233.7 283727598.7
AEGEK S.A. AEGEKY B3 -129281233.7 283727598.7
AEGEK S.A. AEGEKY L3 -129281233.7 283727598.7
AEGEK S.A. AEGEKY S2 -129281233.7 283727598.7
AEGEK S.A. - RTS 989399Q GA -129281233.7 283727598.7
AEGEK S.A.-RTS AEGEPR GA -129281233.7 283727598.7
AEGEK S.A.-RTS AEGEKR GA -129281233.7 283727598.7
AEGEK SA-AUCTION AEGEKE GA -129281233.7 283727598.7
AEGEK-PFD 2733073Q EU -129281233.7 283727598.7
AEGEK-PFD AEGEP GA -129281233.7 283727598.7
AEGEK-PFD 2733077Q EO -129281233.7 283727598.7
AEGEK-PFD AEGEP PZ -129281233.7 283727598.7
AEGEK-PFD AUCTIO AEGEPE GA -129281233.7 283727598.7
AFFINITI INTEGRA 1651064Z LN -436307727.6 341755295.2
AFRICA OFFSHORE AOSA NO -280249984 357512992
AG PETZETAKIS SA PZETF US -110809481.9 206423169.8
AG PETZETAKIS SA PTZ1 GR -110809481.9 206423169.8
AG PETZETAKIS SA PETZK EO -110809481.9 206423169.8
AG PETZETAKIS SA PETZK EU -110809481.9 206423169.8
AG PETZETAKIS SA PETZK PZ -110809481.9 206423169.8
AG PETZETAKIS SA PTZ GR -110809481.9 206423169.8
AG PETZETAKIS SA PETZK GA -110809481.9 206423169.8
AGOR AG NDAGF US -482467.0522 144438127.4
AGOR AG DOO GR -482467.0522 144438127.4
AGOR AG DOO EU -482467.0522 144438127.4
AGOR AG DOOD PZ -482467.0522 144438127.4
AGOR AG DOO EO -482467.0522 144438127.4
AGOR AG DOOG IX -482467.0522 144438127.4
AGOR AG DOO S1 -482467.0522 144438127.4
AGOR AG-RTS 2301918Z GR -482467.0522 144438127.4
AGORA SHOPPING C 214766Z LN -50701197.21 252336526.8
AGRUPACIO - RT AGR/D SM -102379482.8 427577243.8
AIR BERLIN PLC AB1 S1 -139659058.8 2886844064
AIR BERLIN PLC AB1 NQ -139659058.8 2886844064
AIR BERLIN PLC AIBEF US -139659058.8 2886844064
AIR BERLIN PLC AB1 QM -139659058.8 2886844064
AIR BERLIN PLC AB1 PZ -139659058.8 2886844064
AIR BERLIN PLC AB1D S2 -139659058.8 2886844064
AIR BERLIN PLC AB1 BQ -139659058.8 2886844064
AIR BERLIN PLC AB1 EU -139659058.8 2886844064
AIR BERLIN PLC AB1GBX EU -139659058.8 2886844064
AIR BERLIN PLC AB1 EB -139659058.8 2886844064
AIR BERLIN PLC AB1 QT -139659058.8 2886844064
AIR BERLIN PLC AB1GBP EO -139659058.8 2886844064
AIR BERLIN PLC AB1 TH -139659058.8 2886844064
AIR BERLIN PLC AB1D L3 -139659058.8 2886844064
AIR BERLIN PLC ABOG IX -139659058.8 2886844064
AIR BERLIN PLC AB1D B3 -139659058.8 2886844064
AIR BERLIN PLC AB1 IX -139659058.8 2886844064
AIR BERLIN PLC AB1 TQ -139659058.8 2886844064
AIR BERLIN PLC AB1GBX EO -139659058.8 2886844064
AIR BERLIN PLC AB1 GR -139659058.8 2886844064
AIR BERLIN PLC AB1 EO -139659058.8 2886844064
AIR BERLIN PLC AB1 SW -139659058.8 2886844064
AIR COMMAND SYST 4470055Z FP -30657158.94 217998392.9
AIR FRA-KLM-ADR AFLYY US -764720024.1 28108299802
AIR FRA-KLM-ADR AKH US -764720024.1 28108299802
AIR FRA-KLM-ADR FQZ GR -764720024.1 28108299802
AIR FRAN-PAR ENT 2246976Z US -764720024.1 28108299802
AIR FRANCE AIFRF US -764720024.1 28108299802
AIR FRANCE-ADR W AKH-W US -764720024.1 28108299802
AIR FRANCE-KLM AF NQ -764720024.1 28108299802
AIR FRANCE-KLM AFUSD EO -764720024.1 28108299802
AIR FRANCE-KLM AFA NA -764720024.1 28108299802
AIR FRANCE-KLM AF MT -764720024.1 28108299802
AIR FRANCE-KLM AFR TH -764720024.1 28108299802
AIR FRANCE-KLM AF QM -764720024.1 28108299802
AIR FRANCE-KLM AIRF IX -764720024.1 28108299802
AIR FRANCE-KLM AFGBP EO -764720024.1 28108299802
AIR FRANCE-KLM AFUSD EU -764720024.1 28108299802
AIR FRANCE-KLM AF QX -764720024.1 28108299802
AIR FRANCE-KLM AFRAF US -764720024.1 28108299802
AIR FRANCE-KLM AFR GR -764720024.1 28108299802
AIR FRANCE-KLM AFCHF EO -764720024.1 28108299802
AIR FRANCE-KLM AIRF LI -764720024.1 28108299802
AIR FRANCE-KLM AFGBX EO -764720024.1 28108299802
AIR FRANCE-KLM AF EB -764720024.1 28108299802
AIR FRANCE-KLM AF EU -764720024.1 28108299802
AIR FRANCE-KLM AIKL IX -764720024.1 28108299802
AIR FRANCE-KLM AFP B3 -764720024.1 28108299802
AIR FRANCE-KLM AF FP -764720024.1 28108299802
AIR FRANCE-KLM AF S1 -764720024.1 28108299802
AIR FRANCE-KLM AF BQ -764720024.1 28108299802
AIR FRANCE-KLM AFNV FP -764720024.1 28108299802
AIR FRANCE-KLM AF VX -764720024.1 28108299802
AIR FRANCE-KLM AFR QT -764720024.1 28108299802
AIR FRANCE-KLM AF GK -764720024.1 28108299802
AIR FRANCE-KLM AFP L3 -764720024.1 28108299802
AIR FRANCE-KLM AF PZ -764720024.1 28108299802
AIR FRANCE-KLM AF EO -764720024.1 28108299802
AIR FRANCE-KLM AFP S2 -764720024.1 28108299802
AIR FRANCE-KLM AF SW -764720024.1 28108299802
AIR FRANCE-KLM AFGBX EU -764720024.1 28108299802
AIR FRANCE-KLM AF TQ -764720024.1 28108299802
AIR FRANCE-KLM AFCHF EU -764720024.1 28108299802
AIR FRANCE-KLM AF TE -764720024.1 28108299802
AIR FRANCE-NEW AFNN FP -764720024.1 28108299802
AIR FRANCE-OLD 1010Q FP -764720024.1 28108299802
AIRBUS MILITARY 4456697Z SM -48974067.1 2049792335
AIRBUS OPERATION 4435153Z LN -622881599.4 5619187195
AIRTOURS PLC AIR LN -379731744 1817560463
AIRTOURS PLC AIR VX -379731744 1817560463
AIRTOURS PLC ATORF US -379731744 1817560463
AKCIONERNOE-BRD SOVP$ RU -8432780.313 229071575.4
AKER BRYGGE AS 4447369Z NO -48154701.45 699923492.2
AKER ELEKTRO AS 4389353Z NO -35849851.01 136482190.9
AKER FLOATING PR AKFP BY -16100000 765200000
AKER FLOATING PR AKFP PZ -16100000 765200000
AKER FLOATING PR AKFPEUR EU -16100000 765200000
AKER FLOATING PR AKFPEUR EO -16100000 765200000
AKER FLOATING PR AKNO IX -16100000 765200000
AKER FLOATING PR AKFP EU -16100000 765200000
AKER FLOATING PR AKFP EO -16100000 765200000
AKER FLOATING PR AKFP NO -16100000 765200000
AKER MARINE CONT 4414377Z NO -58718358.92 165264364
AKER STORD A/S 4498875Z NO -216314138.2 694523053.4
AKER SUBSEA AS 4394593Z NO -4078325.72 1050122582
AKZO NOBEL POWDE 1472346Z LN -45561469.76 146392085.3
ALAPIS HOLDIN-RT ALAPISR GA -1446551773 135183840.6
ALAPIS HOLDING 3385874Q GA -1446551773 135183840.6
ALAPIS HOLDING I VETER GA -1446551773 135183840.6
ALAPIS HOLDING I FFEFD S2 -1446551773 135183840.6
ALAPIS HOLDING I VTERF US -1446551773 135183840.6
ALAPIS HOLDING I FFEFD B3 -1446551773 135183840.6
ALAPIS HOLDING I FFE GR -1446551773 135183840.6
ALAPIS HOLDING I V2R GR -1446551773 135183840.6
ALAPIS HOLDING I ALAPIS EU -1446551773 135183840.6
ALAPIS HOLDING I FFEFD L3 -1446551773 135183840.6
ALAPIS R-R ALAPV10 GA -1446551773 135183840.6
ALAPIS REPO ALAPL10 GA -1446551773 135183840.6
ALAPIS SA ALAPIS PZ -1446551773 135183840.6
ALAPIS SA APSHF US -1446551773 135183840.6
ALAPIS SA FFEB GR -1446551773 135183840.6
ALAPIS SA FFEF GR -1446551773 135183840.6
ALAPIS SA ALAPI EO -1446551773 135183840.6
ALAPIS SA ALAPI EU -1446551773 135183840.6
ALAPIS SA ALAPIS GA -1446551773 135183840.6
ALBERTO MARTINS 4488947Z PL -25419628.18 123489526.4
ALCATEL LUCENT N 4043757Z NA -21653637.64 116356629.5
ALCATEL-LUCENT E 3642975Z FP -11149272.86 424795289.8
ALCATEL-LUCENT F 3647063Z FP -794545837 4984810705
ALCHEVSKIY ALMK UZ -225000006.2 2842475698
ALECTRA FINANCE 4505075Z ID -12800137.51 1082862962
ALL3MEDIA HOLDIN 4500027Z LN -646613627.6 802966892.4
ALLDAYS PLC 317056Q LN -120493900 252232072.9
ALLDAYS PLC ALDYF US -120493900 252232072.9
ALLIANCE & LEICE 1603082Z LN -362201146.6 3707343539
ALLIANCE FILMS U 1774537Z LN -15721068.24 102608688.7
ALLIANCE RUSSIAN ALRT RU -15214267.61 144581794
ALPHA CREDIT GRP 2398Z LN -128161721.8 6765275654
ALPOS DD APOG SV -67350276.85 175193779.3
ALPOS DD APOG EO -67350276.85 175193779.3
ALPOS DD APOG PZ -67350276.85 175193779.3
ALPOS DD APOG EU -67350276.85 175193779.3
ALSTOM HYDRO ESP 4375881Z SM -42000468.63 613243761.9
ALSTOM WIND SLU 1009322Z SM -34872511.82 509075734.9
ALTAIR ISSY SAS 4682609Z FP -567399.4453 270262865.7
ALTOS HORNOS VIZ AHV SM -115822618.8 1283089189
ALUMINIUM PECHIN 3650903Z FP -831091697.8 722884358.5
AMARIN CORP -ADR AMRN US -88448000 171107008
AMARIN CORP -ADR EH3 GR -88448000 171107008
AMARIN CORP -ADR EH3A GR -88448000 171107008
AMARIN CORP -ADR AMRND US -88448000 171107008
AMARIN CORP -ADR EH3A TH -88448000 171107008
AMARIN CORP PLC AMRNF EU -88448000 171107008
AMARIN CORP PLC AMRN LN -88448000 171107008
AMARIN CORP PLC H2E GR -88448000 171107008
AMARIN CORP PLC AMRJF US -88448000 171107008
AMARIN CORP PLC AMRN PO -88448000 171107008
AMARIN CORP PLC AMRNF US -88448000 171107008
AMARIN CORP PLC AMRN ID -88448000 171107008
AMARIN CORP PLC H2EA GR -88448000 171107008
AMARIN CORP PLC H2E PZ -88448000 171107008
AMARIN CORP PLC AMRNF EO -88448000 171107008
AMER BUS SYS ARB LN -497126976 121439000
AMEY PLC AMY VX -48862569.33 931527720.5
AMEY PLC AMY LN -48862569.33 931527720.5
AMEY PLC AMEYF US -48862569.33 931527720.5
AMEY PLC-ASSENT AMYA LN -48862569.33 931527720.5
AMEY PLC-NEW AMYN LN -48862569.33 931527720.5
AMO ZIL-CLS ZILL* RU -237320797.3 371525868.1
AMO ZIL-CLS ZILLG RU -237320797.3 371525868.1
AMO ZIL-CLS ZILL RM -237320797.3 371525868.1
AMO ZIL-CLS ZILL RU -237320797.3 371525868.1
AMPER SA AMPE S2 -118877663.7 251701787.9
AMPER SA AMP SM -118877663.7 251701787.9
AMPER SA APMRF US -118877663.7 251701787.9
AMPER SA AMPE B3 -118877663.7 251701787.9
AMPER SA AMP1 EU -118877663.7 251701787.9
AMPER SA APR GR -118877663.7 251701787.9
AMPER SA AMP1 EB -118877663.7 251701787.9
AMPER SA AMPS PZ -118877663.7 251701787.9
AMPER SA AMPE L3 -118877663.7 251701787.9
AMPER SA AMP1 IX -118877663.7 251701787.9
AMPER SA AMP1 S1 -118877663.7 251701787.9
AMPER SA AMP1 TQ -118877663.7 251701787.9
AMPER SA AMP1 EO -118877663.7 251701787.9
AMPER SA - RTS AMP/D SM -118877663.7 251701787.9
AMPER SA - RTS APRA GR -118877663.7 251701787.9
AMPER SA - RTS 0881324D SM -118877663.7 251701787.9
AMTEL-POVOLZ-BRD KIRT RU -17984240.01 104831160.6
AMTEL-POVOLZ-BRD KIRT* RU -17984240.01 104831160.6
ANEK LINES P-RTS ANEPOR GA -2285848.991 469901082.9
ANEK LINES P-RTS ANEPR GA -2285848.991 469901082.9
ANEK LINES PFD/I ANEPY B3 -2285848.991 469901082.9
ANEK LINES PFD/I ANEPY S2 -2285848.991 469901082.9
ANEK LINES PFD/I ANEPOY B3 -2285848.991 469901082.9
ANEK LINES PFD/I ANEPOY L3 -2285848.991 469901082.9
ANEK LINES PFD/I ANEPOY S2 -2285848.991 469901082.9
ANEK LINES PFD/I ANEPY L3 -2285848.991 469901082.9
ANEK LINES R-R ANEKV10 GA -2285848.991 469901082.9
ANEK LINES REPO ANEKL10 GA -2285848.991 469901082.9
ANEK LINES S-RTS ANEKR GA -2285848.991 469901082.9
ANEK LINES SA ANEK PZ -2285848.991 469901082.9
ANEK LINES SA ANEKY B3 -2285848.991 469901082.9
ANEK LINES SA ANEK GA -2285848.991 469901082.9
ANEK LINES SA AKL GR -2285848.991 469901082.9
ANEK LINES SA AKLP GR -2285848.991 469901082.9
ANEK LINES SA ANKZF US -2285848.991 469901082.9
ANEK LINES SA ANEK EO -2285848.991 469901082.9
ANEK LINES SA ANEK EU -2285848.991 469901082.9
ANEK LINES SA ANEKY S2 -2285848.991 469901082.9
ANEK LINES SA ANEKY L3 -2285848.991 469901082.9
ANEK LINES SA-R ANEKV13 GA -2285848.991 469901082.9
ANEK LINES SA-RE ANEKL13 GA -2285848.991 469901082.9
ANEK LINES SA-RT 8207309Q GA -2285848.991 469901082.9
ANEK LINES-PF RT ANPOR GA -2285848.991 469901082.9
ANEK LINES-PF RT 8207313Q GA -2285848.991 469901082.9
ANEK LINES-PFD ANEP EU -2285848.991 469901082.9
ANEK LINES-PFD ANEPO GA -2285848.991 469901082.9
ANEK LINES-PFD ANEPO EO -2285848.991 469901082.9
ANEK LINES-PFD ANEPO EU -2285848.991 469901082.9
ANEK LINES-PFD ANEP PZ -2285848.991 469901082.9
ANEK LINES-PFD ANEP EO -2285848.991 469901082.9
ANEK LINES-PFD ANEP GA -2285848.991 469901082.9
ANKER PLC ANK PO -21861359.81 115463159
ANKER PLC DW14 GR -21861359.81 115463159
ANKER PLC ANK LN -21861359.81 115463159
ANKER PLC - ASSD ANKC LN -21861359.81 115463159
ANKER PLC - ASSD ANKB LN -21861359.81 115463159
ANKER PLC-ASSD ANKA LN -21861359.81 115463159
ANTWERP GATEWAY 496769Z BB -73080114.22 225706170.5
APERAM STAINLESS 4783273Z FP -5965310.53 552964689.4
APK OGO OAO AOGO RU -5163579.316 164058148.4
AQUIRIS SA 559158Z BB -2420703.165 256094171.2
ARCADE PROPERTY 4461121Z ID -271769574.6 854837506.8
ARCADIA PETROLEU 645232Z LN -56648000 258746000
ARCELORMITTAL PTRO RO -61078989.5 178664384.2
ARDAGH GLASS FIN 3489820Z ID -425707082.8 5124657810
AREMZO BV 3772972Z NA -34197.38617 140093566.7
AREVA CEI PZ -296450009.3 36203201141
AREVA AREVA BQ -296450009.3 36203201141
AREVA AREVAP B3 -296450009.3 36203201141
AREVA AREVA EU -296450009.3 36203201141
AREVA AREVAUSD EO -296450009.3 36203201141
AREVA CEI EO -296450009.3 36203201141
AREVA AREVA IX -296450009.3 36203201141
AREVA CEI LI -296450009.3 36203201141
AREVA AREVA EB -296450009.3 36203201141
AREVA AREVAGBX EO -296450009.3 36203201141
AREVA AREVAP S2 -296450009.3 36203201141
AREVA AREVA GK -296450009.3 36203201141
AREVA AREVA QM -296450009.3 36203201141
AREVA AREVAUSD EU -296450009.3 36203201141
AREVA ARVCF US -296450009.3 36203201141
AREVA AREVA S1 -296450009.3 36203201141
AREVA A9RB TH -296450009.3 36203201141
AREVA A9RB QT -296450009.3 36203201141
AREVA A9RB GR -296450009.3 36203201141
AREVA AREVAP L3 -296450009.3 36203201141
AREVA AREVA TQ -296450009.3 36203201141
AREVA AREVA FP -296450009.3 36203201141
AREVA AREVA QX -296450009.3 36203201141
AREVA AREVAGBP EO -296450009.3 36203201141
AREVA AREVAGBX EU -296450009.3 36203201141
AREVA A9R TH -296450009.3 36203201141
AREVA - CI - RTS 8285157Q GR -296450009.3 36203201141
AREVA - CI - RTS CEIDS FP -296450009.3 36203201141
AREVA CIP-UN ADR ARVCY US -296450009.3 36203201141
AREVA SA - PREF CEIAP FP -296450009.3 36203201141
AREVA-CI A9R GR -296450009.3 36203201141
AREVA-CI CEIGBX EU -296450009.3 36203201141
AREVA-CI CEIGBX EO -296450009.3 36203201141
AREVA-CI CEI QM -296450009.3 36203201141
AREVA-CI CEI FP -296450009.3 36203201141
AREVA-CI CEI TQ -296450009.3 36203201141
AREVA-CI CEI BQ -296450009.3 36203201141
AREVA-CI CEPF IX -296450009.3 36203201141
AREVA-CI CEIGBP EO -296450009.3 36203201141
AREVA-CI CEI S1 -296450009.3 36203201141
AREVA-CI CEI EU -296450009.3 36203201141
AREVA-CI CEI EB -296450009.3 36203201141
AREVA-CI CEI IX -296450009.3 36203201141
AREVA-CI CEIUSD EU -296450009.3 36203201141
AREVA-CI CEI GK -296450009.3 36203201141
AREVA-CI CEI NQ -296450009.3 36203201141
AREVA-CI CEIUSD EO -296450009.3 36203201141
AREVA-ORDINARY 8381831Q GR -296450009.3 36203201141
ARGEK SA-PFD RTS 989391Q GA -129281233.7 283727598.7
ARGENTA UNDERWRI 2619614Z LN -3429270.883 137134947
ARMAJARO TRADING 3900922Z LN -35780000.42 948870011.7
ARNOTTS HOLDINGS 4462545Z ID -366474765.3 152226036
ARTICON-INTE-NEW AAG1 GR -30518620.96 237457667.5
ARTICON-INTE-NEW AAG3 GR -30518620.96 237457667.5
ARTICON-INTE-RTS AAG8 GR -30518620.96 237457667.5
ARTICON-INTE-RTS AAG8 NM -30518620.96 237457667.5
ARTICON-INTEGR-N AAG2 GR -30518620.96 237457667.5
ARTICON-INTEGRAL AAGN NM -30518620.96 237457667.5
ARTICON-INTEGRAL AAG NM -30518620.96 237457667.5
ARTICON-INTEGRAL AIT LI -30518620.96 237457667.5
ARTICON-INTEGRAL AAG GR -30518620.96 237457667.5
ARTICON-INTEGRAL 229071Q LN -30518620.96 237457667.5
AS ROMA SPA RO9 GR -111338028.6 294452725
AS ROMA SPA ASR IM -111338028.6 294452725
AS ROMA SPA ASRO IX -111338028.6 294452725
AS ROMA SPA ASRM B3 -111338028.6 294452725
AS ROMA SPA ASRM L3 -111338028.6 294452725
AS ROMA SPA ASR EB -111338028.6 294452725
AS ROMA SPA ASR EU -111338028.6 294452725
AS ROMA SPA ASR IX -111338028.6 294452725
AS ROMA SPA ASR S1 -111338028.6 294452725
AS ROMA SPA ASRM S2 -111338028.6 294452725
AS ROMA SPA ASR QM -111338028.6 294452725
AS ROMA SPA ASRAF US -111338028.6 294452725
AS ROMA SPA ASR BQ -111338028.6 294452725
AS ROMA SPA ASR EO -111338028.6 294452725
AS ROMA SPA ASR TQ -111338028.6 294452725
AS ROMA SPA ASR PZ -111338028.6 294452725
AS ROMA SPA RTS ASRAZEUR EU -111338028.6 294452725
AS ROMA SPA RTS ASRAXM IX -111338028.6 294452725
AS ROMA SPA RTS ASRAZEUR EO -111338028.6 294452725
AS ROMA SPA RTS ASRAXM EB -111338028.6 294452725
AS ROMA SPA RTS ASRAZA IM -111338028.6 294452725
AS ROMA SPA RTS ASRAZM TQ -111338028.6 294452725
AS ROMA SPA-RTS ASRAA IM -111338028.6 294452725
ASCOT RACECOURSE 1965934Z LN -75993211.73 229117719.4
ASHWELL PROPERTY 4165857Z LN -192048023.3 200163088.3
ASITO DIENSTENGR 743813Z NA -2494804.851 220704023.7
ASPIS BANK SA ASEUF US -46224213.41 3486115450
ASPIS BANK-RIGHT 365673Q GA -46224213.41 3486115450
ASPIS BANK-RTS 3558423Q GA -46224213.41 3486115450
ASPIS BANK-RTS 839325Q GA -46224213.41 3486115450
ASPIS BANK-RTS ASPTR GA -46224213.41 3486115450
ASPIS MORT-RTS ASPTD GA -46224213.41 3486115450
ASPIS PRON-PF RT ASASPR GA -189911036.1 896550129.3
ASPIS PRONIA -PF ASAPR GA -189911036.1 896550129.3
ASPIS PRONIA GE ASASK GA -189911036.1 896550129.3
ASPIS PRONIA GE ASASK PZ -189911036.1 896550129.3
ASPIS PRONIA GE ASASK EU -189911036.1 896550129.3
ASPIS PRONIA GE AISQF US -189911036.1 896550129.3
ASPIS PRONIA GE ASASK EO -189911036.1 896550129.3
ASPIS PRONIA-PF APGV GR -189911036.1 896550129.3
ASPIS PRONIA-PF ASASP GA -189911036.1 896550129.3
ASPIS PRONIA-RT ASASKR GA -189911036.1 896550129.3
ASPIS PRONOIA GE APG GR -189911036.1 896550129.3
ASPIS PRONOIA GE APGG IX -189911036.1 896550129.3
ASR VASTGOED ONT 4039981Z NA -24447897.91 292472974.2
ASTON VILLA FOOT 1768569Z LN -211955267.1 117946484.4
ATLANTIC COPPER 4512291Z SM -21013583.14 1043171373
ATLANTIC SUPERMA ATLA PZ -76261648.16 315891294.2
ATLANTIC SUPERMA ATLA GA -76261648.16 315891294.2
ATLANTIC SUPERMA ATLA1 EU -76261648.16 315891294.2
ATLANTIC SUPERMA ATLA1 EO -76261648.16 315891294.2
ATOS ORIGIN INTE 4519607Z FP -17395808.68 356910606.2
ATTI-KAT ATTIK GA -56530409.47 191944957.4
ATTI-KAT XTT GR -56530409.47 191944957.4
ATTI-KAT ATTIK EO -56530409.47 191944957.4
ATTI-KAT ATTIK EU -56530409.47 191944957.4
ATTI-KAT ATTIK PZ -56530409.47 191944957.4
ATTI-KAT RTS ATTID GA -56530409.47 191944957.4
ATTI-KAT SA-AUCT ATIKE GA -56530409.47 191944957.4
ATTIKAT S.A. ATTIKY S2 -56530409.47 191944957.4
ATTIKAT S.A. ATTIKY B3 -56530409.47 191944957.4
ATTIKAT S.A. ATTIKY L3 -56530409.47 191944957.4
ATTIKAT-AUCTION ATTIKE GA -56530409.47 191944957.4
ATU AUTO-TEILE-U 3486988Z GR -571062299.6 546297842.8
AUBURN ACQUISITI 4453705Z LN -437104257 1605290465
AURIGACROWN CAR 3791672Z SM -9696676.632 319021086.5
AUTO TRADER AUTOL B3 -288837782.6 616716105.5
AUTO TRADER AUTOEUR EO -288837782.6 616716105.5
AUTO TRADER AUTOEUR EU -288837782.6 616716105.5
AUTO TRADER AUTOL IX -288837782.6 616716105.5
AUTO TRADER AUTOL S2 -288837782.6 616716105.5
AUTO TRADER AUTOL EB -288837782.6 616716105.5
AUTO TRADER AUTOL TQ -288837782.6 616716105.5
AUTO TRADER AUTOAL S1 -288837782.6 616716105.5
AUTO TRADER AUTOL L3 -288837782.6 616716105.5
AUTO TRADER 2UA GR -288837782.6 616716105.5
AUTO TRADER AUTOGBX EU -288837782.6 616716105.5
AUTO TRADER AUTOGBX EO -288837782.6 616716105.5
AUTO TRADER AUTO LN -288837782.6 616716105.5
AUTO TRADER GROU 1239634D LN -288837782.6 616716105.5
AUTO-INDUSTRIAL 3482374Z PL -3916462.237 125097850.1
AUTOMOBILE ASSOC 1479490Z LN -75794419.73 215975911.6
AUTOMOBILE CO BO 0850360D US -19015213.25 303496524.6
AUTOMOBILES CITR 3648863Z FP -125854259.5 1955037586
AUTOMOTIVE LIGHT 3895734Z IM -8707502.577 163886427.3
AUTOROUTES PARIS ARRGBX EU -89943297.24 11659772905
AUTOROUTES PARIS ARR EO -89943297.24 11659772905
AUTOROUTES PARIS RK9 TH -89943297.24 11659772905
AUTOROUTES PARIS ARR LI -89943297.24 11659772905
AUTOROUTES PARIS ARR IX -89943297.24 11659772905
AUTOROUTES PARIS ARR1 BQ -89943297.24 11659772905
AUTOROUTES PARIS ARR QM -89943297.24 11659772905
AUTOROUTES PARIS ARR FP -89943297.24 11659772905
AUTOROUTES PARIS ARR S1 -89943297.24 11659772905
AUTOROUTES PARIS ARR EU -89943297.24 11659772905
AUTOROUTES PARIS ARR TQ -89943297.24 11659772905
AUTOROUTES PARIS ARR EB -89943297.24 11659772905
AVAST SOFTWARE B 0112793D US -15842000 132342000
AVAST SOFTWARE N AVST US -15842000 132342000
AVAYA HOLDINGS L 4491803Z ID -621072180.7 411838418
AVAYA UK 1700688Z LN -108636476.4 372961487.6
AVIS ALQUILE UN 3753296Z SM -21373936.47 271716792.1
AVIS BUDGET UK L 4503067Z LN -5383949.995 452091122.6
AVIVA CENTRAL SE 4503755Z LN -77860199.93 856462199.2
AXON SA HOLDING AYW1 GR -168132402.1 707983030.3
AXON SA HOLDING AXONY S2 -168132402.1 707983030.3
AXON SA HOLDING AXONR GA -168132402.1 707983030.3
AXON SA HOLDING AXON GA -168132402.1 707983030.3
AXON SA HOLDING AXON EU -168132402.1 707983030.3
AXON SA HOLDING AYW GR -168132402.1 707983030.3
AXON SA HOLDING AXON PZ -168132402.1 707983030.3
AXON SA HOLDING AXON EO -168132402.1 707983030.3
AXON SA HOLDING AXONY L3 -168132402.1 707983030.3
AXON SA HOLDING AXONY B3 -168132402.1 707983030.3
AZOT CHERKASY AZCYF US -144125969.1 731869410.6
AZOT CHERKASY AZOT UZ -144125969.1 731869410.6
AZOT OPEN-GDR A9T GR -144125969.1 731869410.6
AZOVZAGALMASH MA AZGM UZ -201003976.4 323492277.6
B&M EUROPEAN BMEL IX -31468050.5 2018470277
B&M EUROPEAN BME LN -31468050.5 2018470277
B&M EUROPEAN BMEL TQ -31468050.5 2018470277
B&M EUROPEAN BME1GBP EO -31468050.5 2018470277
B&M EUROPEAN BMEL S2 -31468050.5 2018470277
B&M EUROPEAN BMEL B3 -31468050.5 2018470277
B&M EUROPEAN BMEL BQ -31468050.5 2018470277
B&M EUROPEAN BME1EUR EU -31468050.5 2018470277
B&M EUROPEAN BME1GBX EU -31468050.5 2018470277
B&M EUROPEAN BMN GR -31468050.5 2018470277
B&M EUROPEAN BME1GBX EO -31468050.5 2018470277
B&M EUROPEAN BME1EUR EO -31468050.5 2018470277
B&M EUROPEAN BME1 S1 -31468050.5 2018470277
B&M EUROPEAN BMEL L3 -31468050.5 2018470277
B&M EUROPEAN BMRPF US -31468050.5 2018470277
B&M EUROPEAN BME1GBP EU -31468050.5 2018470277
B&M EUROPEAN BME1USD EO -31468050.5 2018470277
B&M EUROPEAN BMEL EB -31468050.5 2018470277
B&M EUROPEAN BME1USD EU -31468050.5 2018470277
B&M EUROPEAN VAL 0994508D LN -31468050.5 2018470277
BAAN CO NV-ASSEN BAANA NA -7854715.264 609871188.9
BAAN COMPANY NV BAAN EU -7854715.264 609871188.9
BAAN COMPANY NV BAAN PZ -7854715.264 609871188.9
BAAN COMPANY NV BNCG IX -7854715.264 609871188.9
BAAN COMPANY NV BAAVF US -7854715.264 609871188.9
BAAN COMPANY NV BAAN GR -7854715.264 609871188.9
BAAN COMPANY NV BAAN NA -7854715.264 609871188.9
BAAN COMPANY NV BAAN IX -7854715.264 609871188.9
BAAN COMPANY NV BAAN EO -7854715.264 609871188.9
BAAN COMPANY-NY BAANF US -7854715.264 609871188.9
BADEL 1862 DD BD62REUR EO -1388203.083 121963475
BADEL 1862 DD BD62REUR EU -1388203.083 121963475
BADEL 1862 DD BD62RA CZ -1388203.083 121963475
BADEL 1862 DD BD62RHRK EU -1388203.083 121963475
BADEL 1862 DD BD62RHRK EO -1388203.083 121963475
BAE SYSTEMS 1538746Z LN -27870638.37 135571174.1
BAE SYSTEMS INTE 2344987Z LN -150699245.3 591701047.7
BAE SYSTEMS MARI 1290786Z LN -49863659.95 723768539.3
BAE SYSTEMS PROP 1151751Z LN -80424616.73 1099382736
BAKERS AS 4527631Z NO -21452603.39 110897168.6
BALLYMORE PROPER 162707Z ID -811238718.9 594756063.8
BALTIYSKY ZAVOD BALZ RU -51839852.99 174079813.8
BALTIYSKY-$BRD BALZ* RU -51839852.99 174079813.8
BALTIYSKY-BRD BALZ$ RU -51839852.99 174079813.8
BANK OF SCOTLAND 1419810Z LN -9546369.495 527923743.6
BANQ COLBERT BD FP -36259931.33 1574292181
BANQ NAT SUISS-N BNS SW -4267161939 5.52E+11
BARINA CONSTRUCT 3800988Z ID -15711770.45 142567457.5
BAS HOLDING BV 3775792Z NA -9652.300358 125821871.9
BASF PERFORMANCE 1598Z LN -35298832.77 1084597595
BCH GROUP PLC BCH LN -5728447.595 187998896.2
BEGAR CONSTRUCCI 4413073Z SM -154089924.8 215029526.1
BELGES -SERIES B BELB SW -893745521.6 37018974117
BEMOG HOLDING BV 3782400Z NA -36867.13927 131874844.6
BENTLEY MOTORS L 1376666Z LN -231095699.8 952710712.1
BERIEV AIRCR-BRD TAKB* RU -38474597.15 636498663.5
BERIEV AIRCR-BRD TAKB RU -38474597.15 636498663.5
BETFAIR LTD 83844Z LN -78396193.01 470492129.2
BGE UK LTD 1653368Z LN -31957706.96 460423898.3
BHFS ONE LTD 3804484Z LN -28127755.95 259846721.7
BIOTER BIOT1 EO -23829660 155608222.9
BIOTER BIOT1 EU -23829660 155608222.9
BIOTER BIOTG PZ -23829660 155608222.9
BIOTER BIOT GA -23829660 155608222.9
BIOTER S.A. BIOTY L3 -23829660 155608222.9
BIOTER S.A. BIOTY B3 -23829660 155608222.9
BIOTER S.A. BIOTY S2 -23829660 155608222.9
BIRMINGHAM MAILB 1781057Z LN -6609169.513 116470467.1
BIRSE CIVILS LTD 1333506Z LN -19911067.63 131366919.1
BKK VARME AS 4445833Z NO -1073759.829 155465572.1
BL SP PROPERTIES 1255Q LN -23486399.53 257455674.9
BL SP PROPERTIES STPPF US -23486399.53 257455674.9
BLACK HORSE LTD 1336426Z LN -106973288.3 4066187621
BLENHEIM SHIPPIN 1225303Z LN -33448690.06 323403866.7
BLUEWATER HOLDIN 3487556Z NA -1656102998 2014770213
BMS ASSOCIATES L 4471719Z LN -2791370.997 401417372
BMW NORGE AS 4413913Z NO -6669664.505 124748386.4
BNB RECRUITMENT BNB IX -10242626.17 103637711.2
BNB RECRUITMENT BNB LN -10242626.17 103637711.2
BNB RECRUITMENT BQX GR -10242626.17 103637711.2
BNB RECRUITMENT BNBRF US -10242626.17 103637711.2
BNB RECRUITMENT BNB PO -10242626.17 103637711.2
BNP GUYANE BNPG FP -40559116.42 352047398.5
BOGDAN MOTORS LUAZ UZ -19015213.25 303496524.6
BORGELD MANAGEME 4778257Z NA -81821.40017 246378742
BPM IRELAND PLC 4471855Z ID -4595616.014 844447724
BRADSTOCK GROUP BSKGF US -1855503.819 268572388.5
BRADSTOCK GROUP BDK LN -1855503.819 268572388.5
BRENT WALKER GRO 754087Q LN -1774306283 867084131.8
BRENT WALKER GRP BWKGF US -1774306283 867084131.8
BRIT BROADCAST 1517Z LN -90866101.03 6000657566
BRIT TELECOM 9484 JP -375502096.4 40097703217
BRIT TELECOM BTE GR -375502096.4 40097703217
BRIT TELECOM PLC BTPWF US -375502096.4 40097703217
BRIT TELECOM PLC BT/A VX -375502096.4 40097703217
BRIT TELECOM PLC BTPLF US -375502096.4 40097703217
BRIT TELECOM-ADR 1481Q CN -375502096.4 40097703217
BRIT TELECOM-ADR BTEA GR -375502096.4 40097703217
BRIT TELECOM-RTS BTY-R US -375502096.4 40097703217
BRITISH TELE-FP BT/F LN -375502096.4 40097703217
BRITISH TELE-NP BTPXF US -375502096.4 40097703217
BRITISH TELE-NP BT/N LN -375502096.4 40097703217
BRIXTON GREAT WE 1242343Z LN -23721760.45 160921160.6
BROKAT AG BROFQ US -27134800.92 143511443.1
BROKAT AG BKISF US -27134800.92 143511443.1
BROKAT AG BROAF US -27134800.92 143511443.1
BROKAT AG BRKAF US -27134800.92 143511443.1
BROKAT AG -NEW BRJ1 GR -27134800.92 143511443.1
BROKAT AG -NEW BRJ1 NM -27134800.92 143511443.1
BROKAT AG-ADR BROA US -27134800.92 143511443.1
BROKAT TECH -ADR BROAQ US -27134800.92 143511443.1
BROKAT TECH AG BSA LN -27134800.92 143511443.1
BROKAT TECH AG BRJ NM -27134800.92 143511443.1
BROKAT TECH AG BRJ GR -27134800.92 143511443.1
BROKAT TECH-ADR BRJA GR -27134800.92 143511443.1
BRUESA CONSTRUCC 4283093Z SM -19748118.51 423960563.7
BSKYB LLU ASSETS ESY LN -13323427.13 573001458.7
BT GROUP PLC BT/A QM -375502096.4 40097703217
BT GROUP PLC BT/APEN EO -375502096.4 40097703217
BT GROUP PLC BT/A TQ -375502096.4 40097703217
BT GROUP PLC BT/APEN EU -375502096.4 40097703217
BT GROUP PLC BT/ VX -375502096.4 40097703217
BT GROUP PLC BTQD S2 -375502096.4 40097703217
BT GROUP PLC BTL S2 -375502096.4 40097703217
BT GROUP PLC BT/A EB -375502096.4 40097703217
BT GROUP PLC BTQ GR -375502096.4 40097703217
BT GROUP PLC BT/A PO -375502096.4 40097703217
BT GROUP PLC BT/A BQ -375502096.4 40097703217
BT GROUP PLC BT IX -375502096.4 40097703217
BT GROUP PLC BT/A5 EO -375502096.4 40097703217
BT GROUP PLC BT QX -375502096.4 40097703217
BT GROUP PLC BT/A6 EO -375502096.4 40097703217
BT GROUP PLC BTQ GK -375502096.4 40097703217
BT GROUP PLC BT/A7 EO -375502096.4 40097703217
BT GROUP PLC BT/A8 EO -375502096.4 40097703217
BT GROUP PLC BT/A1 EO -375502096.4 40097703217
BT GROUP PLC BT/A S1 -375502096.4 40097703217
BT GROUP PLC BT/AUSD EU -375502096.4 40097703217
BT GROUP PLC BT/AEUR EO -375502096.4 40097703217
BT GROUP PLC BTQ TH -375502096.4 40097703217
BT GROUP PLC BT/AEUR EU -375502096.4 40097703217
BT GROUP PLC BTGOF US -375502096.4 40097703217
BT GROUP PLC BT/A NQ -375502096.4 40097703217
BT GROUP PLC BT/A2 EO -375502096.4 40097703217
BT GROUP PLC BT/A9 EO -375502096.4 40097703217
BT GROUP PLC BTQD L3 -375502096.4 40097703217
BT GROUP PLC BT/AUSD EO -375502096.4 40097703217
BT GROUP PLC BTL L3 -375502096.4 40097703217
BT GROUP PLC BT/A EO -375502096.4 40097703217
BT GROUP PLC BT PZ -375502096.4 40097703217
BT GROUP PLC BT/A3 EO -375502096.4 40097703217
BT GROUP PLC BT/A EU -375502096.4 40097703217
BT GROUP PLC BTGOFN L3 -375502096.4 40097703217
BT GROUP PLC BT/A LN -375502096.4 40097703217
BT GROUP PLC BT/A NR -375502096.4 40097703217
BT GROUP PLC BT/ EO -375502096.4 40097703217
BT GROUP PLC BTEG IX -375502096.4 40097703217
BT GROUP PLC BTQD B3 -375502096.4 40097703217
BT GROUP PLC BT/AGBP EO -375502096.4 40097703217
BT GROUP PLC BT/A4 EO -375502096.4 40097703217
BT GROUP PLC BTGOFN B3 -375502096.4 40097703217
BT GROUP PLC BTQ QT -375502096.4 40097703217
BT GROUP PLC BTL B3 -375502096.4 40097703217
BT GROUP PLC-ADR BT/$ LN -375502096.4 40097703217
BT GROUP PLC-W/I BTWI LN -375502096.4 40097703217
BT GROUP-ADR WI BTY-W US -375502096.4 40097703217
BT GROUP-CED BLK BTYB AR -375502096.4 40097703217
BT GROUP-CEDEAR BTYC AR -375502096.4 40097703217
BT GROUP-CEDEAR BTB AR -375502096.4 40097703217
BT GROUP-CEDEAR BT AR -375502096.4 40097703217
BT GROUP-CEDEAR BTC AR -375502096.4 40097703217
BT GROUP-CEDEAR BTY AR -375502096.4 40097703217
BT GROUP-CEDEAR BTD AR -375502096.4 40097703217
BT GROUP-CEDEAR BTYD AR -375502096.4 40097703217
BT GROUP-SPON AD BTN MM -375502096.4 40097703217
BT GROUP-SPON AD BTQA GR -375502096.4 40097703217
BT GROUP-SPON AD BT US -375502096.4 40097703217
BT GROUP-SPON AD BTYN MM -375502096.4 40097703217
BT GROUP-SPON AD BT MM -375502096.4 40097703217
BT GROUP-SPON AD BTY US -375502096.4 40097703217
BUMMASH OJSC-BRD BUMM RU -72781463.79 101116053.8
BUMMASH OJSC-BRD BUMM* RU -72781463.79 101116053.8
CAFIMA UK LTD 3795756Z LN -25305047.16 327713869.7
CAISSE D'AMORTIS 211430Z FP -1.85E+11 25139275408
CAJA ESPANA DE I 8245420Z SM -1379128733 50004534301
CALEDONIAN ENVIR 3784Z LN -22697076.58 118884242.3
CALSONIC KANSEI 2730264Z LN -55236864.62 299341503.4
CALSONIC KANSEI 1541442Z LN -13552420.65 264873165
CANARY WHARF FIN 1198063Z LN -309900532.8 3951325073
CANTIERI DI PISA 4313125Z IM -2612001.657 105470729.3
CAPITAL HOME LOA 3809804Z LN -290874097.5 9582592884
CARCOOP FRANCE 4690569Z FP -531946.3216 185619805.2
CARGONET 81784Z NO -108989727.1 131082417.2
CARISBROOKE ANGL 3815488Z LN -67890027.38 125400359
CARLISLE GROUP L 506819Q LN -11904731.18 203553741.8
CARLSBERG IT A/S 4503891Z DC -102665678.1 387242342.2
CARRERE GROUP CRRHF US -9829883.833 279916720.4
CARRERE GROUP CARG FP -9829883.833 279916720.4
CARRERE GROUP CAR2 EO -9829883.833 279916720.4
CARRERE GROUP CAR2 EU -9829883.833 279916720.4
CARRERE GROUP XRR GR -9829883.833 279916720.4
CARRERE GROUP CRGP IX -9829883.833 279916720.4
CARRERE GROUP CARF PZ -9829883.833 279916720.4
CARRERE GROUP SA CAR FP -9829883.833 279916720.4
CARRIER1 INT-AD+ CONE ES -94729000 472360992
CARRIER1 INT-ADR CONEE US -94729000 472360992
CARRIER1 INT-ADR CONEQ US -94729000 472360992
CARRIER1 INTL CJN NM -94729000 472360992
CARRIER1 INTL 8133893Q GR -94729000 472360992
CARRIER1 INTL CJNA GR -94729000 472360992
CARRIER1 INTL SA CONEF US -94729000 472360992
CARRIER1 INTL SA 1253Z SW -94729000 472360992
CATTLES PLC CTT LN -599615492.2 3880885246
CATTLES PLC CHOXF US -599615492.2 3880885246
CATTLES PLC CTTEUR EO -599615492.2 3880885246
CATTLES PLC 0963776D TQ -599615492.2 3880885246
CATTLES PLC CTTSEK EU -599615492.2 3880885246
CATTLES PLC CTT NQ -599615492.2 3880885246
CATTLES PLC CTTUSD EU -599615492.2 3880885246
CATTLES PLC 0915790D EB -599615492.2 3880885246
CATTLES PLC CTT PO -599615492.2 3880885246
CATTLES PLC CTTEUR EU -599615492.2 3880885246
CATTLES PLC CTTUSD EO -599615492.2 3880885246
CATTLES PLC CTTSEK EO -599615492.2 3880885246
CATTLES PLC CTT QM -599615492.2 3880885246
CATTLES PLC CTT PZ -599615492.2 3880885246
CATTLES PLC CTT EO -599615492.2 3880885246
CATTLES PLC 0915787D IX -599615492.2 3880885246
CATTLES PLC 0960894D BQ -599615492.2 3880885246
CATTLES PLC CTT NR -599615492.2 3880885246
CATTLES PLC CTTGBP EO -599615492.2 3880885246
CATTLES PLC CTT VX -599615492.2 3880885246
CATTLES PLC CZS GR -599615492.2 3880885246
CATTLES PLC CTT EU -599615492.2 3880885246
CATTLES PLC-ADR CHOXY US -599615492.2 3880885246
CATTLES PLC-FPR CTTF LN -599615492.2 3880885246
CATTLES PLC-FPR CTTF PZ -599615492.2 3880885246
CATTLES PLC-NPR CCTN PZ -599615492.2 3880885246
CATTLES PLC-NPR CTTN LN -599615492.2 3880885246
CATTLES PLC-NPR 2843726Q EO -599615492.2 3880885246
CATTLES PLC-NPR CTTN PZ -599615492.2 3880885246
CATTLES PLC-NPR CTTN IX -599615492.2 3880885246
CATTLES PLC-NPR 2843730Q EU -599615492.2 3880885246
CATTLES PLC-NPR 2843734Q EO -599615492.2 3880885246
CATTLES PLC-RFD CTTR LN -599615492.2 3880885246
CATTLES PLC-RFD CTTR IX -599615492.2 3880885246
CATTLES PLC-RFD CTTR PZ -599615492.2 3880885246
CB RICHARD ELLIS 1984326Z LN -15005194.54 101088170.4
CDISCOUNT SA 4690913Z FP -14710509.37 442569172
CEA INDUS-CIP CDSEF US -296450009.3 36203201141
CELAYA EMPARANZA 3642467Z SM -46370880.14 210371904.6
CELSA MANUFACTUR 2011751Z LN -364451.9997 509121207.7
CENTAR BANKA D.D CEBAPHRK EO -3853841.592 180958181.1
CENTAR BANKA D.D CEBAPHRK EU -3853841.592 180958181.1
CENTAR BANKA D.D CEBAPA CZ -3853841.592 180958181.1
CENTAR BANKA DD CEBARHRK EO -3853841.592 180958181.1
CENTAR BANKA DD CEBARHRK EU -3853841.592 180958181.1
CENTAR BANKA DD CEBARA CZ -3853841.592 180958181.1
CENTER PARCS EUR 235619Z NA -6141720.638 682887891.2
CENTRAL EURO DIS CEDC EU -319755008 1107515008
CENTRAL EURO DIS CEDCEUR EO -319755008 1107515008
CENTRAL EURO DIS CDC PW -319755008 1107515008
CENTRAL EURO DIS CEM GR -319755008 1107515008
CENTRAL EURO DIS CEDCQ US -319755008 1107515008
CENTRAL EURO DIS CEDC LI -319755008 1107515008
CENTRAL EURO DIS CEDC EO -319755008 1107515008
CENTRAL EURO DIS CEDCPLN EO -319755008 1107515008
CENTRAL EURO DIS CEDCPLN EU -319755008 1107515008
CENTRAL EURO DIS CDC PZ -319755008 1107515008
CENTRAL EURO DIS CEDCEUR EU -319755008 1107515008
CENTRAL EURO DIS CTL LI -319755008 1107515008
CENTRAL EURO DIS CEDC US -319755008 1107515008
CENTRAL EUROPEAN 3276402Z NA -4838847.523 186866740.9
CENTROSOLAR GR-N C3ON GR -16015657.93 146354372.5
CENTROSOLAR GROU C3O EO -16015657.93 146354372.5
CENTROSOLAR GROU C3OAD B3 -16015657.93 146354372.5
CENTROSOLAR GROU C3OA TH -16015657.93 146354372.5
CENTROSOLAR GROU C3OA BQ -16015657.93 146354372.5
CENTROSOLAR GROU C3OA GR -16015657.93 146354372.5
CENTROSOLAR GROU C3OA TQ -16015657.93 146354372.5
CENTROSOLAR GROU C3OAD L3 -16015657.93 146354372.5
CENTROSOLAR GROU C3OAD S2 -16015657.93 146354372.5
CENTROSOLAR GROU C3OUSD EO -16015657.93 146354372.5
CENTROSOLAR GROU C3O PZ -16015657.93 146354372.5
CENTROSOLAR GROU CSOG IX -16015657.93 146354372.5
CENTROSOLAR GROU C3O S1 -16015657.93 146354372.5
CENTROSOLAR GROU C3O EU -16015657.93 146354372.5
CENTROSOLAR GROU CEOLF US -16015657.93 146354372.5
CENTROSOLAR GROU C3OUSD EU -16015657.93 146354372.5
CENTROSOLAR GROU C3O BQ -16015657.93 146354372.5
CENTROSOLAR GROU C3O GR -16015657.93 146354372.5
CENTROSOLAR GROU C3O TQ -16015657.93 146354372.5
CENTROSOLAR GROU C3O TH -16015657.93 146354372.5
CENTROSOLAR GROU C3OA QT -16015657.93 146354372.5
CENTROSOLAR-RTS 3434314Z GR -16015657.93 146354372.5
CEREP INVESTMENT 3638887Z SM -70598386.38 288951995.8
CHATZIIOANNOU AV HATZC GA -54973436.99 102255716.8
CHATZIIONNOU HLD HZI GR -54973436.99 102255716.8
CHELSEA FOOTBALL 1508858Z LN -849005432.9 522910649.8
CHEMOIL EUROPE B 3898634Z NA -34470000 425707008
CHERNIGIVS M-GDR CKU GR -19979000 106551872
CHERNIGIVS MAN-M CHIM UZ -19979000 106551872
CHERNISHEVA MPCH RM -235787468.2 695367571.1
CHERNISHEVA MPCH RU -235787468.2 695367571.1
CHERNISHEVA MPCH* RU -235787468.2 695367571.1
CHRIST WATER TEC CWT AV -5754093.459 165990091.1
CHRIST WATER TEC CWT EO -5754093.459 165990091.1
CHRIST WATER TEC CWT PZ -5754093.459 165990091.1
CHRIST WATER TEC CRSWF US -5754093.459 165990091.1
CHRIST WATER TEC 8131204Q GR -5754093.459 165990091.1
CHRIST WATER TEC CWT EU -5754093.459 165990091.1
CHRIST WATER TEC CWTE IX -5754093.459 165990091.1
CHRIST WATER-ADR CRSWY US -5754093.459 165990091.1
CHRYSALIS GROUP CHSEUR EU -16399586.02 124836284.8
CHRYSALIS GROUP CHS PZ -16399586.02 124836284.8
CHRYSALIS GROUP CHS LN -16399586.02 124836284.8
CHRYSALIS GROUP CHS PO -16399586.02 124836284.8
CHRYSALIS GROUP CYGUF US -16399586.02 124836284.8
CHRYSALIS GROUP CHS EO -16399586.02 124836284.8
CHRYSALIS GROUP 5CY GR -16399586.02 124836284.8
CHRYSALIS GROUP CHS EU -16399586.02 124836284.8
CHRYSALIS GROUP CHSGBP EO -16399586.02 124836284.8
CHRYSALIS GROUP CLYSF US -16399586.02 124836284.8
CHRYSALIS GROUP CHS IX -16399586.02 124836284.8
CHRYSALIS GROUP CHS VX -16399586.02 124836284.8
CHRYSALIS GROUP HR4 GR -16399586.02 124836284.8
CHRYSALIS GROUP CHSEUR EO -16399586.02 124836284.8
CHRYSALIS GROUP CHSUSD EO -16399586.02 124836284.8
CHRYSALIS GROUP CHSUSD EU -16399586.02 124836284.8
CIA LA GOMERA AS 4401057Z NO -14188999.71 111542579.2
CIMBER STERLING CIMBE EU -5227729.207 192575891.8
CIMBER STERLING CIMBE EO -5227729.207 192575891.8
CIMBER STERLING CIMBER DC -5227729.207 192575891.8
CIMBER STERLING CIMBER BY -5227729.207 192575891.8
CIRIO FINANZIARI CRO IM -422095936.7 1583083044
CIRIO FINANZIARI FIY GR -422095936.7 1583083044
CITY INN LTD 2196980Z LN -38681609.96 1015295311
CLARANET GROUP L 4157581Z LN -5642745.89 165416275.8
CLIFFORD CHANCE 1768609Z LN -218753378.8 119651502.5
CLIPPER WINDPOWE 3470635Q LN -168322000 436419008
CLIPPER WINDPOWE CWPEUR EO -168322000 436419008
CLIPPER WINDPOWE CWPEUR EU -168322000 436419008
CLIPPER WINDPOWE C2W GR -168322000 436419008
CLIPPER WINDPOWE 34706EUR EO -168322000 436419008
CLIPPER WINDPOWE 34706EUR EU -168322000 436419008
CLIPPER WINDPOWE CWPA LN -168322000 436419008
CLIPPER WINDPOWE CWP EU -168322000 436419008
CLIPPER WINDPOWE CWP EO -168322000 436419008
CLIPPER WINDPOWE CWP LN -168322000 436419008
CLIPPER WINDPOWE CWP PG -168322000 436419008
CLIPPER WINDPOWE CWP IX -168322000 436419008
CLIPPER WINDPOWE CRPWF US -168322000 436419008
CLIPPER WINDPOWE CWP PZ -168322000 436419008
CLUB CO HOLDINGS 4500035Z LN -23743697.03 109720737.4
CMA CGM AGENCES 4746849Z FP -10638831.52 162545865.7
CO DAS ENERGIAS 3794880Z PL -2542665.906 115837812.1
CO-OPERATIVE PHA 3951852Z LN -63197952.74 199515766
CODERE SA CDRE B3 -257000149 2112958022
CODERE SA CDRE L3 -257000149 2112958022
CODERE SA CDR EB -257000149 2112958022
CODERE SA CDR IX -257000149 2112958022
CODERE SA CODEF US -257000149 2112958022
CODERE SA CDR EU -257000149 2112958022
CODERE SA CDR SM -257000149 2112958022
CODERE SA CDR TQ -257000149 2112958022
CODERE SA CDR S1 -257000149 2112958022
CODERE SA CDRUSD EU -257000149 2112958022
CODERE SA 4CD GR -257000149 2112958022
CODERE SA CDRUSD EO -257000149 2112958022
CODERE SA CDR EO -257000149 2112958022
CODERE SA CDRE S2 -257000149 2112958022
CODERE SA CDRE PZ -257000149 2112958022
COGNIS GMBH 575202Z GR -745013993.7 3306935972
COIN SPA GUCIF US -154063920.1 800559778.4
COIN SPA GC IX -154063920.1 800559778.4
COIN SPA 965089Q GR -154063920.1 800559778.4
COIN SPA-RTS GCAA IM -154063920.1 800559778.4
COIN SPA/OLD GC IM -154063920.1 800559778.4
COLT TELECOM BV 4511515Z NA -15997403.43 123548994.5
COMMUNICORP GROU 1027859Z ID -10254069.02 202942157.3
COMPAGNIA ITALIA CGLUF US -137731671.1 527392123.8
COMPAGNIA ITALIA CITU IX -137731671.1 527392123.8
COMPAGNIA ITALIA ICT IM -137731671.1 527392123.8
COMPASS GROU-OLD 1259Q LN -668101173.9 2972459078
COMPASS GROUP QOP GR -668101173.9 2972459078
COMPASS GRP-ADR CMSGY US -668101173.9 2972459078
COMPASS GRP-ADR CMSJY US -668101173.9 2972459078
CONERGY AG CGYGBP EO -123446974.6 312014471.7
CONERGY AG CGYK TQ -123446974.6 312014471.7
CONERGY AG CGYK BQ -123446974.6 312014471.7
CONERGY AG CEYHF US -123446974.6 312014471.7
CONERGY AG CGYK EU -123446974.6 312014471.7
CONERGY AG CGY PZ -123446974.6 312014471.7
CONERGY AG CGYKUSD EU -123446974.6 312014471.7
CONERGY AG CGY EB -123446974.6 312014471.7
CONERGY AG CGY IX -123446974.6 312014471.7
CONERGY AG CGY TQ -123446974.6 312014471.7
CONERGY AG CGY GR -123446974.6 312014471.7
CONERGY AG CGYK EB -123446974.6 312014471.7
CONERGY AG CGYK IX -123446974.6 312014471.7
CONERGY AG CGYGBX EO -123446974.6 312014471.7
CONERGY AG CGYK S1 -123446974.6 312014471.7
CONERGY AG CGYK QM -123446974.6 312014471.7
CONERGY AG CGYKGBP EO -123446974.6 312014471.7
CONERGY AG CGY S1 -123446974.6 312014471.7
CONERGY AG CGYUSD EU -123446974.6 312014471.7
CONERGY AG CGYKUSD EO -123446974.6 312014471.7
CONERGY AG CGY NQ -123446974.6 312014471.7
CONERGY AG CGYUSD EO -123446974.6 312014471.7
CONERGY AG CGY EU -123446974.6 312014471.7
CONERGY AG CGYK TH -123446974.6 312014471.7
CONERGY AG CGYKGBX EO -123446974.6 312014471.7
CONERGY AG CGY EO -123446974.6 312014471.7
CONERGY AG CGY BQ -123446974.6 312014471.7
CONERGY AG CGY TH -123446974.6 312014471.7
CONERGY AG CGYK PZ -123446974.6 312014471.7
CONERGY AG CGYK EO -123446974.6 312014471.7
CONERGY AG CGY QM -123446974.6 312014471.7
CONERGY AG CGYK GR -123446974.6 312014471.7
CONERGY AG -RTS CGYB GR -123446974.6 312014471.7
CONERGY AG-ALTAK CGY2 GR -123446974.6 312014471.7
CONERGY AG-RTS 9274362Z GR -123446974.6 312014471.7
CONNECT GROU-RTS CNCF LN -69818642.47 499012577.7
CONNECT GROU-RTS CNCFGBX EU -69818642.47 499012577.7
CONNECT GROU-RTS CNCFGBX EO -69818642.47 499012577.7
CONNECT GROUP PL CNCTL B3 -69818642.47 499012577.7
CONNECT GROUP PL CNCT LN -69818642.47 499012577.7
CONNECT GROUP PL CNCT PZ -69818642.47 499012577.7
CONNECT GROUP PL CNCTGBP EU -69818642.47 499012577.7
CONNECT GROUP PL CNCT TQ -69818642.47 499012577.7
CONNECT GROUP PL CNCT S1 -69818642.47 499012577.7
CONNECT GROUP PL NWS S1 -69818642.47 499012577.7
CONNECT GROUP PL NWS1 BQ -69818642.47 499012577.7
CONNECT GROUP PL NWS EB -69818642.47 499012577.7
CONNECT GROUP PL CNCTL S2 -69818642.47 499012577.7
CONNECT GROUP PL NWS2 TQ -69818642.47 499012577.7
CONNECT GROUP PL CNCT EB -69818642.47 499012577.7
CONNECT GROUP PL CNCTGBP EO -69818642.47 499012577.7
CONNECT GROUP PL NWS PO -69818642.47 499012577.7
CONNECT GROUP PL CNCTEUR EO -69818642.47 499012577.7
CONNECT GROUP PL CNCT1GBP EO -69818642.47 499012577.7
CONNECT GROUP PL CNCT IX -69818642.47 499012577.7
CONNECT GROUP PL CNCTL L3 -69818642.47 499012577.7
CONNECT GROUP PL CNCTEUR EU -69818642.47 499012577.7
CONNECT GROUP PL CNCT BQ -69818642.47 499012577.7
CONNECT UTILITIE 2112683Z LN -8340151.746 137723814.6
CONOCOPHILLIPS I 4526671Z ID -216839004.8 609834013.3
CONOCOPHILLIPS W 3894318Z ID -230298000 528524992
CONS NEWEN ENT CWETF US -347363008 314752992
CONS NEWEN ENT CWE/T CN -347363008 314752992
CONSTELLIUM HOLD 0777811D US -44770001.41 3644520115
CONSTELLIUM HOLD 0616528D FP -44770001.41 3644520115
CONSTELLIUM NV-A CSTMUSD EU -44770001.41 3644520115
CONSTELLIUM NV-A CSTMUSD EO -44770001.41 3644520115
CONSTELLIUM NV-A CSTMEUR EO -44770001.41 3644520115
CONSTELLIUM NV-A CSTMP S2 -44770001.41 3644520115
CONSTELLIUM NV-A CSTM US -44770001.41 3644520115
CONSTELLIUM NV-A CSTMP L3 -44770001.41 3644520115
CONSTELLIUM NV-A C9O GR -44770001.41 3644520115
CONSTELLIUM NV-A CSTMP B3 -44770001.41 3644520115
CONSTELLIUM NV-A CSTMEUR EU -44770001.41 3644520115
CONSTELLIUM NV-A CSTM FP -44770001.41 3644520115
CONSTELLIUM NV-B 1222203D US -44770001.41 3644520115
CONTENTFILM INTE 2532058Z LN -9300904.46 126058510.9
CONVENIENCE FOOD 1555794Z LN -134874451.3 765640046.7
COOPERATIE VOEDI 4378105Z NA -142026.7053 639612430
COPERFIL GROUP 704457Z SM -3700821.321 403822614.4
CORAL ESTATES LT 1077210Z LN -3811477.291 130784942.2
CORAM INTERNATIO 3819084Z NA -10476.88259 106710835.6
CORUS TUBES BV 4044829Z NA -15669781.68 108585334.6
COSMOS SHIPPING 4174421Z NA -1136567.873 304070874
CP - COMBOIOS DE 1005Z PL -4195211526 1509194227
CPI MORTARS LTD 1751696Z LN -30390399.86 115400452.3
CPP GROUP - ADR CPGPY US -45713644.72 135877096.4
CPP GROUP PLC 4CVD L3 -45713644.72 135877096.4
CPP GROUP PLC CPPL L3 -45713644.72 135877096.4
CPP GROUP PLC CPP LN -45713644.72 135877096.4
CPP GROUP PLC 4CVD B3 -45713644.72 135877096.4
CPP GROUP PLC CPPL B3 -45713644.72 135877096.4
CPP GROUP PLC CPPEUR EU -45713644.72 135877096.4
CPP GROUP PLC CPPEUR EO -45713644.72 135877096.4
CPP GROUP PLC CPP EB -45713644.72 135877096.4
CPP GROUP PLC CPP IX -45713644.72 135877096.4
CPP GROUP PLC CPP TQ -45713644.72 135877096.4
CPP GROUP PLC CPP PZ -45713644.72 135877096.4
CPP GROUP PLC CPP QM -45713644.72 135877096.4
CPP GROUP PLC CPP EO -45713644.72 135877096.4
CPP GROUP PLC CPP NR -45713644.72 135877096.4
CPP GROUP PLC CPP EU -45713644.72 135877096.4
CPP GROUP PLC CPPGBP EO -45713644.72 135877096.4
CPP GROUP PLC 4CV GK -45713644.72 135877096.4
CPP GROUP PLC CPP S1 -45713644.72 135877096.4
CPP GROUP PLC CPP BQ -45713644.72 135877096.4
CPP GROUP PLC CPGPF US -45713644.72 135877096.4
CPP GROUP PLC 4CV GR -45713644.72 135877096.4
CPP GROUP PLC CPPL S2 -45713644.72 135877096.4
CPP GROUP PLC 4CVD S2 -45713644.72 135877096.4
CRAEGMOOR LTD 1652880Z LN -13908471.04 565526373.2
CREDITO FOND-RTS CRFSA IM -200209050.3 4213063202
CREDITO FONDIARI CRF IM -200209050.3 4213063202
CRESPI SPA CRE1 IX -42072998.36 291988991.4
CRESPI SPA CRE EB -42072998.36 291988991.4
CRESPI SPA CRE1 TQ -42072998.36 291988991.4
CRESPI SPA CRE1 EO -42072998.36 291988991.4
CRESPI SPA CRE IM -42072998.36 291988991.4
CRESPI SPA GVCIF US -42072998.36 291988991.4
CRESPI SPA CRE BQ -42072998.36 291988991.4
CRESPI SPA LG5 GR -42072998.36 291988991.4
CRESPI SPA CRE1 PZ -42072998.36 291988991.4
CRESPI SPA CRE1 EU -42072998.36 291988991.4
CSC COMPUTER SCI 3894278Z LN -153050119.7 2920396956
CUCINA LUX INVES 4503083Z LN -978222246.1 3210325190
D/S TORM 3424559Q IX -163995008 1384248960
D/S TORM TORDF US -163995008 1384248960
D/S TORM ADSSF US -163995008 1384248960
D/S TORM TORM NR -163995008 1384248960
DANA PETROLEUM N ENER NO -49442800.46 261409223.6
DANIILIDIS PA-RT DANILR GA -101793528.3 620604212.3
DANIILIDIS PANAG DANIL GA -101793528.3 620604212.3
DANKA BUS SYSTEM 3205283Q EO -497126976 121439000
DANKA BUS SYSTEM 3205287Q EU -497126976 121439000
DANKA BUS SYSTEM DNK VX -497126976 121439000
DANKA BUS SYSTEM DNK IX -497126976 121439000
DANKA BUS SYSTEM DNK LN -497126976 121439000
DANKA BUS SYSTEM DANKF US -497126976 121439000
DANKA BUS SYSTEM 3205291Q EO -497126976 121439000
DANKA BUS SYSTEM DNK PZ -497126976 121439000
DANKA BUS SYSTEM DNK PO -497126976 121439000
DANKA BUS-$US CE DANKD AR -497126976 121439000
DANKA BUS-ADR DB6 GR -497126976 121439000
DANKA BUS-ADR AP39 LI -497126976 121439000
DANKA BUS-ADR DANKY US -497126976 121439000
DANKA BUS-ADR DANKE US -497126976 121439000
DANKA BUS-BLK CE DANKB AR -497126976 121439000
DANKA BUS-C/E CE DANKC AR -497126976 121439000
DANKA BUS-CEDEAR DANK AR -497126976 121439000
DANNEMORA MI-NEW DMABBTA1 SS -44638010.5 159769983.1
DANNEMORA MI-RTS DMABTRB SS -44638010.5 159769983.1
DANNEMORA MINE-A 0122312D SS -44638010.5 159769983.1
DANNEMORA MINERA DMABB EU -44638010.5 159769983.1
DANNEMORA MINERA DMABNOK SS -44638010.5 159769983.1
DANNEMORA MINERA DMABBO S2 -44638010.5 159769983.1
DANNEMORA MINERA DMABB EO -44638010.5 159769983.1
DANNEMORA MINERA DMABBNOK EO -44638010.5 159769983.1
DANNEMORA MINERA DMABBO B3 -44638010.5 159769983.1
DANNEMORA MINERA DMAB SS -44638010.5 159769983.1
DANNEMORA MINERA DMABB NO -44638010.5 159769983.1
DANNEMORA MINERA 59P GR -44638010.5 159769983.1
DANNEMORA MINERA DMABBO L3 -44638010.5 159769983.1
DANNEMORA MINERA DMABBNOK EU -44638010.5 159769983.1
DANNEMORA MINERA DMABB PZ -44638010.5 159769983.1
DANNEMORA MINERA DMABB SS -44638010.5 159769983.1
DANNEMORA MINERA DMABBNOK BY -44638010.5 159769983.1
DANNEMORA MINERA DMABB BY -44638010.5 159769983.1
DARTY PLC KE4 GK -418911342.6 1563994117
DARTY PLC DRTY1 IX -418911342.6 1563994117
DARTY PLC KESA2 EO -418911342.6 1563994117
DARTY PLC DRTY EB -418911342.6 1563994117
DARTY PLC KESA4 EO -418911342.6 1563994117
DARTY PLC DRTY EU -418911342.6 1563994117
DARTY PLC KESAF US -418911342.6 1563994117
DARTY PLC KESA TQ -418911342.6 1563994117
DARTY PLC DRTY IX -418911342.6 1563994117
DARTY PLC DRTYEUR EU -418911342.6 1563994117
DARTY PLC DRTYL B3 -418911342.6 1563994117
DARTY PLC DRTYI GR -418911342.6 1563994117
DARTY PLC KESA9 EO -418911342.6 1563994117
DARTY PLC KESA5 EO -418911342.6 1563994117
DARTY PLC KESA3 EO -418911342.6 1563994117
DARTY PLC DRTYP L3 -418911342.6 1563994117
DARTY PLC KSA FP -418911342.6 1563994117
DARTY PLC KESA NR -418911342.6 1563994117
DARTY PLC DRTY QM -418911342.6 1563994117
DARTY PLC KESA QM -418911342.6 1563994117
DARTY PLC DRTYUSD EO -418911342.6 1563994117
DARTY PLC KESA EB -418911342.6 1563994117
DARTY PLC KESA8 EO -418911342.6 1563994117
DARTY PLC DRTY1 EB -418911342.6 1563994117
DARTY PLC DRTY TQ -418911342.6 1563994117
DARTY PLC KESA6 EO -418911342.6 1563994117
DARTY PLC KESAFN B3 -418911342.6 1563994117
DARTY PLC KESA BQ -418911342.6 1563994117
DARTY PLC DRTYP B3 -418911342.6 1563994117
DARTY PLC DRTYL S2 -418911342.6 1563994117
DARTY PLC KESAFN L3 -418911342.6 1563994117
DARTY PLC DRTY FP -418911342.6 1563994117
DARTY PLC KESA EO -418911342.6 1563994117
DARTY PLC DRTYUSD EU -418911342.6 1563994117
DARTY PLC DRTY1 TQ -418911342.6 1563994117
DARTY PLC DRTYEUR EO -418911342.6 1563994117
DARTY PLC DRTYL L3 -418911342.6 1563994117
DARTY PLC DRTYGBP EO -418911342.6 1563994117
DARTY PLC DRTYP S2 -418911342.6 1563994117
DARTY PLC KESA IX -418911342.6 1563994117
DARTY PLC KESA NQ -418911342.6 1563994117
DARTY PLC KE4 GR -418911342.6 1563994117
DARTY PLC DRTY EO -418911342.6 1563994117
DARTY PLC KES1 EO -418911342.6 1563994117
DARTY PLC KESA S1 -418911342.6 1563994117
DARTY PLC KESA7 EO -418911342.6 1563994117
DARTY PLC DRTY LN -418911342.6 1563994117
DARTY PLC KESA PO -418911342.6 1563994117
DAVENHAM GROUP P DAV PG -57318753.57 114702989.3
DAVENHAM GROUP P DAV EO -57318753.57 114702989.3
DAVENHAM GROUP P DAH TH -57318753.57 114702989.3
DAVENHAM GROUP P DAVEUR EU -57318753.57 114702989.3
DAVENHAM GROUP P DAV PZ -57318753.57 114702989.3
DAVENHAM GROUP P DAH GR -57318753.57 114702989.3
DAVENHAM GROUP P DAV EU -57318753.57 114702989.3
DAVENHAM GROUP P DAVEUR EO -57318753.57 114702989.3
DAVENHAM GROUP P DAV LN -57318753.57 114702989.3
DE LA RUE PLC DLAR IX -191504970.4 754649781.4
DE LA RUE PLC DLAR QX -191504970.4 754649781.4
DE LA RUE PLC DLARL S2 -191504970.4 754649781.4
DE LA RUE PLC DLAR3 EO -191504970.4 754649781.4
DE LA RUE PLC DLAR7 EO -191504970.4 754649781.4
DE LA RUE PLC DLA EO -191504970.4 754649781.4
DE LA RUE PLC DLAR4 EO -191504970.4 754649781.4
DE LA RUE PLC DLAR EO -191504970.4 754649781.4
DE LA RUE PLC DLAR NR -191504970.4 754649781.4
DE LA RUE PLC DLAR1 EO -191504970.4 754649781.4
DE LA RUE PLC DLAR PZ -191504970.4 754649781.4
DE LA RUE PLC DLAREUR EU -191504970.4 754649781.4
DE LA RUE PLC DLARCHF EU -191504970.4 754649781.4
DE LA RUE PLC DLAR VX -191504970.4 754649781.4
DE LA RUE PLC DL1B GR -191504970.4 754649781.4
DE LA RUE PLC DLARF US -191504970.4 754649781.4
DE LA RUE PLC DLAR LN -191504970.4 754649781.4
DE LA RUE PLC DLAR2 EO -191504970.4 754649781.4
DE LA RUE PLC DLAR5 EO -191504970.4 754649781.4
DE LA RUE PLC DLAR6 EO -191504970.4 754649781.4
DE LA RUE PLC DLAR PO -191504970.4 754649781.4
DE LA RUE PLC DLARUSD EO -191504970.4 754649781.4
DE LA RUE PLC DL1C GR -191504970.4 754649781.4
DE LA RUE PLC DLAR QM -191504970.4 754649781.4
DE LA RUE PLC DLARUSD EU -191504970.4 754649781.4
DE LA RUE PLC DL1 GR -191504970.4 754649781.4
DE LA RUE PLC DELRF US -191504970.4 754649781.4
DE LA RUE PLC DL1C GK -191504970.4 754649781.4
DE LA RUE PLC DLAR S1 -191504970.4 754649781.4
DE LA RUE PLC DLAR TQ -191504970.4 754649781.4
DE LA RUE PLC DLARCHF EO -191504970.4 754649781.4
DE LA RUE PLC DLAR BQ -191504970.4 754649781.4
DE LA RUE PLC DLARL B3 -191504970.4 754649781.4
DE LA RUE PLC DL1A GR -191504970.4 754649781.4
DE LA RUE PLC DLAR EB -191504970.4 754649781.4
DE LA RUE PLC DLAR NQ -191504970.4 754649781.4
DE LA RUE PLC DLAR EU -191504970.4 754649781.4
DE LA RUE PLC DLAR8 EO -191504970.4 754649781.4
DE LA RUE PLC DLARL L3 -191504970.4 754649781.4
DE LA RUE PLC DLRUF US -191504970.4 754649781.4
DE LA RUE PLC DLARGBP EO -191504970.4 754649781.4
DE LA RUE PLC DLAREUR EO -191504970.4 754649781.4
DE LA RUE PLC DLAR9 EO -191504970.4 754649781.4
DE LA RUE-ADR DLUEY US -191504970.4 754649781.4
DE LA RUE-ADR DERUY US -191504970.4 754649781.4
DE LA RUE-PREF DLAP PZ -191504970.4 754649781.4
DE LA RUE-PREF DLAP LN -191504970.4 754649781.4
DE LA RUE-PREF 3115438Q EU -191504970.4 754649781.4
DE STEFANO INVES 3814768Z LN -1732230.02 173800412
DESMET BALLESTRA 2850262Z BB -53278497.25 285006991.6
DEVELICA DEUTSCH DDE PG -79827494.88 1139643575
DEVELICA DEUTSCH DDE LN -79827494.88 1139643575
DEVELICA DEUTSCH DDE PZ -79827494.88 1139643575
DEVELICA DEUTSCH D4B GR -79827494.88 1139643575
DEVELICA DEUTSCH DDE IX -79827494.88 1139643575
DF DEUTSCHE FORF DE6 EU -1623242.145 115119022.6
DF DEUTSCHE FORF DE6D L3 -1623242.145 115119022.6
DF DEUTSCHE FORF DE6 S1 -1623242.145 115119022.6
DF DEUTSCHE FORF DE6 EO -1623242.145 115119022.6
DF DEUTSCHE FORF DE6D B3 -1623242.145 115119022.6
DF DEUTSCHE FORF DE6D S2 -1623242.145 115119022.6
DF DEUTSCHE FORF DE6 TH -1623242.145 115119022.6
DF DEUTSCHE FORF DE6 QT -1623242.145 115119022.6
DF DEUTSCHE FORF DE6 TQ -1623242.145 115119022.6
DF DEUTSCHE FORF DE6G IX -1623242.145 115119022.6
DF DEUTSCHE FORF DE6 PZ -1623242.145 115119022.6
DF DEUTSCHE FORF DE6 GR -1623242.145 115119022.6
DFS FURNITURE DF0 GR -125918322.6 1112727423
DFS FURNITURE DFSGBX EO -125918322.6 1112727423
DFS FURNITURE DFSGBX EU -125918322.6 1112727423
DFS FURNITURE DFS LN -125918322.6 1112727423
DFS FURNITURE DFSL TQ -125918322.6 1112727423
DFS FURNITURE DFSL EB -125918322.6 1112727423
DFS FURNITURE DFSL IX -125918322.6 1112727423
DFS FURNITURE LT 1236466D LN -125918322.6 1112727423
DIAMOND RESORT H 1710824Z LN -59240015.95 230240894.2
DIAS AQUA-R REPO DIFFV11 GA -122191812.7 122791821.7
DIAS AQUACU-REPO DIFFL11 GA -122191812.7 122791821.7
DIAS AQUACULTURE DIFF EU -122191812.7 122791821.7
DIAS AQUACULTURE DIFF GA -122191812.7 122791821.7
DIAS AQUACULTURE DIFFY B3 -122191812.7 122791821.7
DIAS AQUACULTURE DIFFY S2 -122191812.7 122791821.7
DIAS AQUACULTURE DIFFY L3 -122191812.7 122791821.7
DIAS AQUACULTURE DIFF PZ -122191812.7 122791821.7
DIAS AQUACULTURE DIFF EO -122191812.7 122791821.7
DIBAQ DIPROTEG 937530Z SM -6314112.019 147817872.4
DIGNITY PLC DTYL S1 -143874501.3 936661888.4
DIGNITY PLC DTY VX -143874501.3 936661888.4
DIGNITY PLC DTY9 EO -143874501.3 936661888.4
DIGNITY PLC DTY NR -143874501.3 936661888.4
DIGNITY PLC DTY1 EO -143874501.3 936661888.4
DIGNITY PLC DTYEUR EU -143874501.3 936661888.4
DIGNITY PLC DTYL S2 -143874501.3 936661888.4
DIGNITY PLC DTY10 EO -143874501.3 936661888.4
DIGNITY PLC DTY PZ -143874501.3 936661888.4
DIGNITY PLC DTYL L3 -143874501.3 936661888.4
DIGNITY PLC DTY5 EO -143874501.3 936661888.4
DIGNITY PLC DTYEUR EO -143874501.3 936661888.4
DIGNITY PLC DTY QM -143874501.3 936661888.4
DIGNITY PLC DN8A GK -143874501.3 936661888.4
DIGNITY PLC DTY8 EO -143874501.3 936661888.4
DIGNITY PLC DTY6 EO -143874501.3 936661888.4
DIGNITY PLC DTY EB -143874501.3 936661888.4
DIGNITY PLC DTYGBP EO -143874501.3 936661888.4
DIGNITY PLC DTY EU -143874501.3 936661888.4
DIGNITY PLC DN8B GR -143874501.3 936661888.4
DIGNITY PLC DTY NQ -143874501.3 936661888.4
DIGNITY PLC DN8 GR -143874501.3 936661888.4
DIGNITY PLC DTYUSD EU -143874501.3 936661888.4
DIGNITY PLC DTYL B3 -143874501.3 936661888.4
DIGNITY PLC DTY3 EO -143874501.3 936661888.4
DIGNITY PLC DGNYF US -143874501.3 936661888.4
DIGNITY PLC DN8E GR -143874501.3 936661888.4
DIGNITY PLC DN8D GR -143874501.3 936661888.4
DIGNITY PLC DTY S1 -143874501.3 936661888.4
DIGNITY PLC DTY IX -143874501.3 936661888.4
DIGNITY PLC DTY LN -143874501.3 936661888.4
DIGNITY PLC DTY7 EO -143874501.3 936661888.4
DIGNITY PLC DTY PO -143874501.3 936661888.4
DIGNITY PLC DTY TQ -143874501.3 936661888.4
DIGNITY PLC DTY BQ -143874501.3 936661888.4
DIGNITY PLC DTY EO -143874501.3 936661888.4
DIGNITY PLC DTY2 EO -143874501.3 936661888.4
DIGNITY PLC DTYUSD EO -143874501.3 936661888.4
DIGNITY PLC DTY4 EO -143874501.3 936661888.4
DIGNITY PLC DN8A GR -143874501.3 936661888.4
DIGNITY-UNSP ADR DGNTY US -143874501.3 936661888.4
DIMA COSTRUZIONI 4526911Z IM -14681477.1 426157772.4
DIMAFIN SPA 2727163Z IM -63237310.55 270853808.6
DIOKI DD DIOKRHRK EU -38207781.04 346383251.3
DIOKI DD DIOKRA CZ -38207781.04 346383251.3
DIOKI DD DIOKRHRK EO -38207781.04 346383251.3
DISENOS URBANOS 4367969Z SM -2536463.405 337554175.8
DLJ UK HOLDING 1774497Z LN -105638000 4363095040
DNEPROPETROVSK DMZP UZ -135620115 517236634.7
DNIPROVSKY IRON DMKD UZ -377295526 1251619779
DONCASTERS GROUP 996146Z LN -432538259.6 1612203119
DOUX SA 3102738Z FP -158236168.9 870523700.3
DRIVE ASSIST HOL 3641135Z LN -526668613.4 370637648.1
DTZ DEBENHAM TIE 1637608Z LN -127198668.5 136733329.8
DUFERCO LA LOUVI 4169149Z BB -102578634.2 322222513.5
DYNAMOBEL 828524Z SM -6654013.893 118562072.6
EAST LONDON BUS 4453289Z LN -25646993.29 493649937.7
EAST-SIBERIA-BRD VSNK RU -92283731.58 299863617.2
EAST-SIBERIA-BRD VSNK* RU -92283731.58 299863617.2
EAST-SIBERIAN-BD VSNK$ RU -92283731.58 299863617.2
EASYDIS SAS 4470559Z FP -7560619.382 256995570.2
EASYNET GROUP ESY PO -13323427.13 573001458.7
EASYNET GROUP EZNGF US -13323427.13 573001458.7
EASYNET GROUP EAY GR -13323427.13 573001458.7
EASYNET GROUP ESY VX -13323427.13 573001458.7
EASYNET GROUP-CV 91009Z LN -13323427.13 573001458.7
EATON ELECTRIC B 2017671Z NA -1841796.041 130595897
EATON ELECTRIC L 2342667Z LN -54667.79995 196611914.2
ECONOMIST NEWSPA 6888Z LN -17266078.7 388318853.7
ECS COMPUTER SYS ECS FP -109890400.7 681800759.1
EDENRED EDEN QM -1597200050 4990040157
EDENRED EDEN S1 -1597200050 4990040157
EDENRED EDENP S2 -1597200050 4990040157
EDENRED EDEN EO -1597200050 4990040157
EDENRED EDNMF US -1597200050 4990040157
EDENRED EDEN IX -1597200050 4990040157
EDENRED EDENP B3 -1597200050 4990040157
EDENRED EDEN EU -1597200050 4990040157
EDENRED EDEN EB -1597200050 4990040157
EDENRED EDENUSD EU -1597200050 4990040157
EDENRED QSV GR -1597200050 4990040157
EDENRED EDEN PZ -1597200050 4990040157
EDENRED EDEN QX -1597200050 4990040157
EDENRED QSV QT -1597200050 4990040157
EDENRED EDEN TQ -1597200050 4990040157
EDENRED EDEN FP -1597200050 4990040157
EDENRED QSV TH -1597200050 4990040157
EDENRED EDENP L3 -1597200050 4990040157
EDENRED EDEN BQ -1597200050 4990040157
EDENRED EDEN LI -1597200050 4990040157
EDENRED EDENUSD EO -1597200050 4990040157
EDENRED - NEW EDENV EU -1597200050 4990040157
EDENRED - NEW EDENVEUR EO -1597200050 4990040157
EDENRED - NEW EDENV FP -1597200050 4990040157
EDENRED - NEW 0931985D FP -1597200050 4990040157
EDENRED - NEW 09317EUR EU -1597200050 4990040157
EDENRED - NEW 09317EUR EO -1597200050 4990040157
EDENRED SA-ADR EDNMY US -1597200050 4990040157
EDENRED-NEW 0931986D FP -1597200050 4990040157
EDENRED-NEW 0675161D FP -1597200050 4990040157
EDF EN OUTRE MER 4679713Z FP -10380130.59 110553300
EDRASIS C. PSALL EDRAR GA -114527235.1 168611130.1
EDRASIS PSALIDAS EDRA GA -114527235.1 168611130.1
EDRASIS PSALIDAS EPP GR -114527235.1 168611130.1
EDRASIS PSALIDAS EDRA PZ -114527235.1 168611130.1
EDRASIS PSALIDAS EDRA EO -114527235.1 168611130.1
EDRASIS PSALIDAS EDRA EU -114527235.1 168611130.1
EDRASIS-AUCTION EDRAE GA -114527235.1 168611130.1
EIRCOM LTD EIRCF US -641146517.4 2926124913
EIRCOM LTD 378739Q VX -641146517.4 2926124913
EIRCOM LTD 91174Q GR -641146517.4 2926124913
EIRCOM LTD OLD EIR ID -641146517.4 2926124913
EIRCOM LTD-ADR 3327279Q US -641146517.4 2926124913
EIRCOM LTD/OLD 314787Q LN -641146517.4 2926124913
EITZEN CHEMI-ADR EITZY US -295420992 742657024
EITZEN CHEMICAL ECHEM NO -295420992 742657024
EITZEN CHEMICAL ECHEMO L3 -295420992 742657024
EITZEN CHEMICAL ECHEM EO -295420992 742657024
EITZEN CHEMICAL ECHEMO S2 -295420992 742657024
EITZEN CHEMICAL ECHEM EU -295420992 742657024
EITZEN CHEMICAL ECHM IX -295420992 742657024
EITZEN CHEMICAL ECHEM SS -295420992 742657024
EITZEN CHEMICAL ECHEMEUR EU -295420992 742657024
EITZEN CHEMICAL 1235289D NO -295420992 742657024
EITZEN CHEMICAL E8H GR -295420992 742657024
EITZEN CHEMICAL ECHEMO B3 -295420992 742657024
EITZEN CHEMICAL ECHEM TQ -295420992 742657024
EITZEN CHEMICAL ECHEM BY -295420992 742657024
EITZEN CHEMICAL ECHEM PZ -295420992 742657024
EITZEN CHEMICAL ECHEMEUR EO -295420992 742657024
EITZEN CHEMICAL CHEM NO -295420992 742657024
EITZEN CHEMICAL EITZF US -295420992 742657024
ELECTRABEL CUSTO 4469455Z AV -24033524.65 3127573353
ELECTRAWINDS S-B 0699494D GR -99949570.21 504294062.4
ELECTRAWINDS SE EWID S2 -99949570.21 504294062.4
ELECTRAWINDS SE EWID B3 -99949570.21 504294062.4
ELECTRAWINDS SE EWI GR -99949570.21 504294062.4
ELECTRAWINDS SE EWID L3 -99949570.21 504294062.4
ELECTRAWINDS SE ECT2 EU -99949570.21 504294062.4
ELECTRAWINDS SE EPNTF US -99949570.21 504294062.4
ELECTRAWINDS SE ECT2 EO -99949570.21 504294062.4
ELITE HOTELS ROT 3818480Z LN -14885480.51 169830462
ELITE SHIPPING ELSP DC -27715992.18 100892901.9
ELLERSTON GEMS O 4781417Z ID -4056745.81 195867216.9
EM.TV & MERC-NEW ETV1 NM -22067243.56 849175624.7
EM.TV & MERC-NEW ETV1 GR -22067243.56 849175624.7
EM.TV & MERC-RTS ETV8 GR -22067243.56 849175624.7
EM.TV & MERC-RTS ETV8 NM -22067243.56 849175624.7
EM.TV & MERCHAND EMTVF US -22067243.56 849175624.7
EM.TV & MERCHAND ETV NM -22067243.56 849175624.7
EM.TV & MERCHAND ETV VX -22067243.56 849175624.7
EM.TV & MERCHAND 985403Q GR -22067243.56 849175624.7
EM.TV & MERCHAND ETV LN -22067243.56 849175624.7
EM.TV & MERCHAND 0881480D US -22067243.56 849175624.7
EMCOR GROUP UK P 376717Z LN -6538600.194 173540446
EMI GROUP -ASSD EMIA LN -2265973885 2950096964
EMI GROUP LTD EMI LN -2265973885 2950096964
EMI GROUP PLC EMI IX -2265973885 2950096964
EMI GROUP PLC EMI PO -2265973885 2950096964
EMI GROUP PLC 3020138Q GR -2265973885 2950096964
EMI GROUP PLC EMI VX -2265973885 2950096964
EMI GROUP PLC EMIPF US -2265973885 2950096964
EMI GROUP PLC-B 1019425Q LN -2265973885 2950096964
EMI GROUP-ADR EMI$ LN -2265973885 2950096964
EMI GROUP-ADR 38IS LN -2265973885 2950096964
EMI GROUP-ADR EMIPY US -2265973885 2950096964
EMPEDOS SA EMPEDEUR EU -33637669.62 174742646.9
EMPEDOS SA EMPEDEUR EO -33637669.62 174742646.9
EMPEDOS SA EMPED GA -33637669.62 174742646.9
EMPEDOS SA-RTS EMPEDR GA -33637669.62 174742646.9
EMPRESA DE DESEN 3635623Z PL -474057586.2 908088594.2
ENER PETROLEUM A ENEPF US -49442800.46 261409223.6
ENERGY POWER RES 510443Z LN -33955843.59 146607640.8
EQUANT NV 815090Q GR -161280537.3 766114863.8
EQUANT NV EQT LN -161280537.3 766114863.8
EQUANT NV 178235Z FP -161280537.3 766114863.8
EQUANT NV ENTTF US -161280537.3 766114863.8
EQUANT NV EQATF US -161280537.3 766114863.8
EQUANT NV EQU FP -161280537.3 766114863.8
EQUANT NV EQU VX -161280537.3 766114863.8
EQUANT NV-EX DIS ENT-W US -161280537.3 766114863.8
EQUANT NV-NY SHR 688153Q US -161280537.3 766114863.8
EQUANT NV-NY SHR EQUR GR -161280537.3 766114863.8
EQUITY INSURANCE 1675200Z LN -111525678.8 387274841.6
ERM GROUP HOLDIN 3125976Z LN -175924992 616248000
ESTALEIROS NAVAI 4507307Z PL -182902840 188576452
ETEM -RTS ETEMR GA -7598573.75 160361172.3
ETEM-LIGHT METAL ETEM GA -7598573.75 160361172.3
ETEM-LIGHT METAL ETEM PZ -7598573.75 160361172.3
ETEM-LIGHT METAL ETEM EO -7598573.75 160361172.3
ETEM-LIGHT METAL ETEM EU -7598573.75 160361172.3
ETHEL AUSTIN INV 1089202Z LN -38259689.04 225745160.1
ETHICAL HLDG-ADR ETHCY US -88448000 171107008
EUPHONY HOLDINGS 4449041Z LN -22471921.86 112865190.8
EURCO FINANCE 3799980Z ID -48644964.48 679151283.8
EURO -RTS TBA 1234161D FP -250559359 2728116488
EURO DISNEY SCA EDLB BB -250559359 2728116488
EURO DISNEY SCA EDIS CN -250559359 2728116488
EURO DISNEY SCA EUDI LI -250559359 2728116488
EURO DISNEY SCA EDIS BB -250559359 2728116488
EURO DISNEY SCA 1234160D FP -250559359 2728116488
EURO DISNEY SCA 1234159D FP -250559359 2728116488
EURO DISNEY-ADR 1800P US -250559359 2728116488
EURO DISNEY-NEW EDLN FP -250559359 2728116488
EURO DISNEY-NONR ERDBF US -250559359 2728116488
EURO DISNEY-NONR 3663498Q PZ -250559359 2728116488
EURO DISNEY-NONR EDIG IX -250559359 2728116488
EURO DISNEY-NONR EDLY IX -250559359 2728116488
EURO DISNEY-NONR 2862682Q EO -250559359 2728116488
EURO DISNEY-NONR 2862678Q EU -250559359 2728116488
EURO DISNEY-NONR EDLNR FP -250559359 2728116488
EURO DISNEY-NONR EDI GR -250559359 2728116488
EURO DISNEY-NP EUDN LN -250559359 2728116488
EURO DISNEY-OLD EURD BB -250559359 2728116488
EURO DISNEY-RCPT EUD LN -250559359 2728116488
EURO DISNEY-RCPT ERDDF US -250559359 2728116488
EURO DISNEY-RCPT EUD VX -250559359 2728116488
EURO DISNEY-RCPT EUD PO -250559359 2728116488
EURO DISNEY-REGR EDL FP -250559359 2728116488
EURO DISNEY-REGR EDLP IX -250559359 2728116488
EURO DISNEY-REGR EDL EU -250559359 2728116488
EURO DISNEY-REGR EDL BQ -250559359 2728116488
EURO DISNEY-REGR EDLP L3 -250559359 2728116488
EURO DISNEY-REGR EDL EB -250559359 2728116488
EURO DISNEY-REGR EDLP PZ -250559359 2728116488
EURO DISNEY-REGR EDIA TH -250559359 2728116488
EURO DISNEY-REGR EDLP B3 -250559359 2728116488
EURO DISNEY-REGR EDL1 TH -250559359 2728116488
EURO DISNEY-REGR EDL TQ -250559359 2728116488
EURO DISNEY-REGR EDL S1 -250559359 2728116488
EURO DISNEY-REGR EDL IX -250559359 2728116488
EURO DISNEY-REGR EDL EO -250559359 2728116488
EURO DISNEY-REGR EUDSF US -250559359 2728116488
EURO DISNEY-REGR EDL QM -250559359 2728116488
EURO DISNEY-REGR EDIA GR -250559359 2728116488
EURO DISNEY-REGR EDLP S2 -250559359 2728116488
EURO DISNEY-RGT EDI1 GR -250559359 2728116488
EURO DISNEY-RGT 1229818D FP -250559359 2728116488
EURO DISNEY-RTS EDLDSP EB -250559359 2728116488
EURO DISNEY-RTS EDISS5 BB -250559359 2728116488
EURO DISNEY-RTS EDLDS FP -250559359 2728116488
EURO DISNEY-RTS EDLDSEUR EU -250559359 2728116488
EURO DISNEY-RTS ERDYF US -250559359 2728116488
EURO DISNEY-RTS 2761245Q FP -250559359 2728116488
EURO DISNEY-RTS EDLDSP IX -250559359 2728116488
EURO DISNEY-RTS EDLDSP TQ -250559359 2728116488
EURO DISNEY-RTS EDLDSEUR EO -250559359 2728116488
EUROCOMMERCE HOL 4174085Z NA -1476.300001 1442043983
EURODEP 4680905Z FP -20980092.52 199599003.5
EUROMEDICA EUMED GA -168132402.1 707983030.3
EUROMEDICA SA DNX GR -101793528.3 620604212.3
EUROMEDICA SA EUROM EU -101793528.3 620604212.3
EUROMEDICA SA EUROM PZ -101793528.3 620604212.3
EUROMEDICA SA EUMDF US -168132402.1 707983030.3
EUROMEDICA SA EUROM GA -101793528.3 620604212.3
EUROMEDICA SA DNXA GR -101793528.3 620604212.3
EUROMEDICA SA EUROMY L3 -101793528.3 620604212.3
EUROMEDICA SA EUROMY B3 -101793528.3 620604212.3
EUROMEDICA SA EUROMY S2 -101793528.3 620604212.3
EUROMEDICA SA EUROM EO -101793528.3 620604212.3
EUROPEAN HOME EHR4 EO -14328734.27 110864074.5
EUROPEAN HOME EHR PO -14328734.27 110864074.5
EUROPEAN HOME EHREUR EO -14328734.27 110864074.5
EUROPEAN HOME EHR7 EO -14328734.27 110864074.5
EUROPEAN HOME FPAKF US -14328734.27 110864074.5
EUROPEAN HOME EHR1 EO -14328734.27 110864074.5
EUROPEAN HOME EHR PZ -14328734.27 110864074.5
EUROPEAN HOME EHR8 EO -14328734.27 110864074.5
EUROPEAN HOME EHR EU -14328734.27 110864074.5
EUROPEAN HOME EHR VX -14328734.27 110864074.5
EUROPEAN HOME KLZ VX -14328734.27 110864074.5
EUROPEAN HOME EHR LN -14328734.27 110864074.5
EUROPEAN HOME EHR EO -14328734.27 110864074.5
EUROPEAN HOME EHRGBP EO -14328734.27 110864074.5
EUROPEAN HOME EHR6 EO -14328734.27 110864074.5
EUROPEAN HOME EHREUR EU -14328734.27 110864074.5
EUROPEAN HOME EHR5 EO -14328734.27 110864074.5
EUROPEAN HOME EHR10 EO -14328734.27 110864074.5
EUROPEAN HOME KLZ PO -14328734.27 110864074.5
EUROPEAN HOME EHR2 EO -14328734.27 110864074.5
EUROPEAN HOME EHR9 EO -14328734.27 110864074.5
EUROPEAN HOME EHR3 EO -14328734.27 110864074.5
EUROPEAN MARITIM 4523543Z NA -34804363.97 347312502.4
EXPERT NORGE AS 4444681Z NO -7915470.255 138176736
EXPLORER NV 4289181Z BB -38833909.74 237288467.6
EXXONMOBIL MARIN 1196527Z LN -12472541.39 165900206.8
FACEO FM 4690137Z FP -1109089.079 243429434.2
FACONNABLE SA 226782Z FP -135489494.6 114660790.1
FAR EASTERN GENE DVGC RU -287701852.5 1300213857
FAR EASTERN-GDR 317864Z LX -1000000 1286000000
FAREPAK PLC FPK LN -14328734.27 110864074.5
FAT FACE GROUP L 8249218Z LN -15588250.47 338887017.5
FBEX PROMO INMOB 3745024Z SM -820030.3857 1142978438
FENERBAHCE FEBHF US -145873996.4 151220524
FENERBAHCE FUTBO FENER TI -145873996.4 151220524
FERDINAND STINGE 4040837Z NA -197824.2002 1420305383
FERGO AISA -RTS AISA/D SM -102379482.8 427577243.8
FERGO AISA SA AISA SM -102379482.8 427577243.8
FERGO AISA SA AISA PZ -102379482.8 427577243.8
FERGO AISA SA AISA TQ -102379482.8 427577243.8
FERGO AISA SA AISA EO -102379482.8 427577243.8
FERGO AISA SA AISA EU -102379482.8 427577243.8
FESCO FESKF US -1000000 1286000000
FESCO FESH$ RU -1000000 1286000000
FESCO-CLS FESH* RU -1000000 1286000000
FESCO-CLS FESHG RU -1000000 1286000000
FESCO-CLS FESH RU -1000000 1286000000
FESCO-CLS FESH RM -1000000 1286000000
FESCO-RDC FESHRDC BH -1000000 1286000000
FESCO-RDC 144A FESHA LX -1000000 1286000000
FESCO-RDC REG S FESHR LX -1000000 1286000000
FINAN ST FIACRE STFI FP -1274873.644 111191494.1
FINANCIAL LEASIN FLKO RU -223005888.9 203003201.1
FINANCIAL LEASIN FLKO RM -223005888.9 203003201.1
FINANCIAL LEASIN 137282Z RU -223005888.9 203003201.1
FINANCIAL LEASIN FLKO* RU -223005888.9 203003201.1
FINANCIAL SERVIC 2630281Z LN -105700509.6 414966448.4
FINANCIETOREN NV 3729210Z BB -79646965.76 731800789.5
FINANSIERINGSSEL 3977156Z DC -2410330.413 110737438.4
FINMATICA SPA FIN NM -126386016.2 281256000.7
FINMATICA SPA FIN IM -126386016.2 281256000.7
FINMATICA SPA FMTAF US -126386016.2 281256000.7
FINMATICA SPA 0882440D GR -126386016.2 281256000.7
FIRST CHOICE HOL 1098394Z LN -599861682.6 608849393.2
FIRST HYDRO HOLD 3640695Z LN -138234986.9 787284226.6
FIRST MILK CHEES 2747070Z LN -2831489.514 219885072.7
FLAMEL TECH-ADR FLML US -9512000 116252000
FLAMEL TECH-ADR FL3 GR -9512000 116252000
FLAMEL TECH-ADR FLMLY US -9512000 116252000
FLAMEL TECH-ADR+ FLML ES -9512000 116252000
FLAMEL TECHNOLOG 223386Z FP -9512000 116252000
FLECTAT LTD 1160967Z LN -46022004.56 2832302323
FLOWTECH FLUIDPO FLOL L3 -21847240.78 106259293.7
FLOWTECH FLUIDPO FLO LN -21847240.78 106259293.7
FLOWTECH FLUIDPO FLOGBX EO -21847240.78 106259293.7
FLOWTECH FLUIDPO FLOGBX EU -21847240.78 106259293.7
FLOWTECH FLUIDPO 0984685D LN -21847240.78 106259293.7
FLOWTECH FLUIDPO FLOL S2 -21847240.78 106259293.7
FLOWTECH FLUIDPO FLOL B3 -21847240.78 106259293.7
FLOWTECH LTD 499847Z LN -21615316.78 106259293.7
FNAC PARIS SA 4517559Z FP -17638041.28 142283698.6
FOL INTERNATIONA 4513251Z ID -73407123.12 337876005.2
FORD MOTOR CO LT 1291306Z LN -926039399.1 5261361595
FORTHNET R-R FORTV10 GA -129513405.2 730028940.1
FORTHNET REPO FORTL10 GA -129513405.2 730028940.1
FORTHNET SA FORTHY B3 -129513405.2 730028940.1
FORTHNET SA FORTH EO -129513405.2 730028940.1
FORTHNET SA FN6 GR -129513405.2 730028940.1
FORTHNET SA FORTH PZ -129513405.2 730028940.1
FORTHNET SA FNETF US -129513405.2 730028940.1
FORTHNET SA FRHNF US -129513405.2 730028940.1
FORTHNET SA FORTH EU -129513405.2 730028940.1
FORTHNET SA FORTHY S2 -129513405.2 730028940.1
FORTHNET SA FORTHY L3 -129513405.2 730028940.1
FORTHNET SA FN61 GR -129513405.2 730028940.1
FORTHNET SA FORTH GA -129513405.2 730028940.1
FORTHNET SA- RTS FORTHEUR EU -129513405.2 730028940.1
FORTHNET SA- RTS FORTHEUR EO -129513405.2 730028940.1
FORTHNET SA- RTS FORTHR GA -129513405.2 730028940.1
FORTHNET SA-RT 2905043Q GA -129513405.2 730028940.1
FORTHNET SA-RTS 0918102D GA -129513405.2 730028940.1
FORTHNET-AUCTION FORTHE GA -129513405.2 730028940.1
FOTOVISTA 666680Z FP -164906523.7 144423244.8
FOUR SEASONS HEA 1865450Z LN -70922359.13 339298185.3
FRANCE TEL-CVG WFA US -161280537.3 766114863.8
FREE RECORD SHOP FRSHN NA -1845202.816 135750172.5
FREE RECORD SHOP 776709Q US -1845202.816 135750172.5
FREE RECORD-NEW 2922Q US -1845202.816 135750172.5
FREE RECORD-STK FREES NA -1845202.816 135750172.5
FRENCH CONNECTIO 1092170Z LN -56979412.48 126916995.8
FRESHWATER FINAN 699575Z ID -356859861.6 2117171097
FRUIT OF THE LOO 4459361Z ID -148264849.1 362413542.6
FUGRO-GEOTEAM AS 4777049Z NO -26835943.96 280819059.2
FUJITSU SIEMENS 2332Z NA -3856160.021 2920765776
FUND FOR ORDERED 3451402Z SM -2411855924 12405762920
FW FARNSWORTH LT 1293386Z LN -65739932.28 107240946.6
G4S SECURE SOL 1383954Z LN -98910616.11 439870371.2
GALATASARAY SPOR GSY GR -39424162.03 339166438.3
GALATASARAY SPOR GSRAY TI -39424162.03 339166438.3
GALATASARAY SPOR 1092028D TI -39424162.03 339166438.3
GALATASARAY SPOR 1092030D TI -39424162.03 339166438.3
GALATASARAY SPOR 1092031D TI -39424162.03 339166438.3
GALATASARAY SPOR GALA IX -39424162.03 339166438.3
GALATASARAY SPOR GSRAYR TI -39424162.03 339166438.3
GALATASARAY SPOR GATSF US -39424162.03 339166438.3
GALATASARAY-NEW GSRAYY TI -39424162.03 339166438.3
GALIFORM CORPORA 1478794Z LN -42240607.6 356838258.9
GALLAGHER UK LTD 4422897Z LN -8986482.825 196569821.2
GARTLAND WHALLEY GWB LN -10987103.36 145356463.2
GAZ-FINANS OOO GAZF RU -56134.51002 232319894.6
GE POWER CONTROL 3744144Z SM -96711575.3 106573693.4
GENERAL MOTORS 1062338Z LN -1050450006 1467250566
GEOBAN UK LTD 1207967Z LN -151608.7187 126736022.7
GERIMEX BV 3820372Z NA -944079.0697 121833289.5
GESTESA DESARROL 3797476Z SM -17369623.2 398147084.9
GFI SOFTWARE S.A GFIS US -102039000 369868992
GFI SOFTWARE S.A GFIX US -102039000 369868992
GFI SOFTWARE S.A 0620577D US -102039000 369868992
GGT GROUP PLC 500970Q LN -156372272 408211200.9
GGT GROUP-ADR GGTRY US -156372272 408211200.9
GLAXOSMITHKLINE 1426Z LN -4969083.544 12826999154
GLENCORE ESPANA 3752336Z SM -113656.5233 446394459.3
GLOBAL CROSSING 3629883Z LN -629418516.5 429046146.8
GONDOLA GROUP LT 4499995Z LN -617655808 1510184565
GRANDE PAROISSE GDPA FP -927267926.9 629287290
GRANDE PAROISSE GDPXF US -927267926.9 629287290
GRANDE PAROISSE GAPA FP -927267926.9 629287290
GRANDES ALMACENE 4376721Z SM -6342478.213 162039364.8
GRANDS MOU PARIS 2034Q FP -6439463.239 201491758.9
GRAZHDANSKIE SAM GSSU RU -398069984 2511169024
GREAT EASTERN HO 1708272Z LN -5065882.795 153629770.7
GREEN WIND ENERG GW EU -11320362.36 176234024
GREEN WIND ENERG G7W1 GR -11320362.36 176234024
GREEN WIND ENERG GW BY -11320362.36 176234024
GREEN WIND ENERG GW EO -11320362.36 176234024
GREEN WIND ENERG GW PZ -11320362.36 176234024
GREEN WIND ENERG GWEUR EO -11320362.36 176234024
GREEN WIND ENERG GW DC -11320362.36 176234024
GREEN WIND ENERG GWEUR EU -11320362.36 176234024
GROUPE PROGRES S 4734137Z FP -145582524.5 135577203.6
GRUPO EMPRESARIA GSJ EO -69520552.19 2910350172
GRUPO EMPRESARIA GSJ PZ -69520552.19 2910350172
GRUPO EMPRESARIA GSJ EU -69520552.19 2910350172
GRUPO EMPRESARIA GSJ SM -69520552.19 2910350172
GRUPO EMPRESARIA GSJE L3 -69520552.19 2910350172
GRUPO EMPRESARIA GSJ IX -69520552.19 2910350172
GRUPO EMPRESARIA GSJ S1 -69520552.19 2910350172
GRUPO EMPRESARIA GSJ EB -69520552.19 2910350172
GRUPO EMPRESARIA GSJE S2 -69520552.19 2910350172
GRUPO EMPRESARIA GSJ TQ -69520552.19 2910350172
GRUPO EMPRESARIA GSJE B3 -69520552.19 2910350172
GRUPO TAVEX SA TVXAF US -10622070.67 655950832
GRUPO TAVEX SA TVX SM -10622070.67 655950832
GRUPO TAVEX SA TVX S1 -10622070.67 655950832
GRUPO TAVEX SA TVX EB -10622070.67 655950832
GRUPO TAVEX SA TVXE S2 -10622070.67 655950832
GRUPO TAVEX SA TVX EO -10622070.67 655950832
GRUPO TAVEX SA TV3 GR -10622070.67 655950832
GRUPO TAVEX SA TVX EU -10622070.67 655950832
GRUPO TAVEX SA TVXE L3 -10622070.67 655950832
GRUPO TAVEX SA TVX IX -10622070.67 655950832
GRUPO TAVEX SA TVX TQ -10622070.67 655950832
GRUPO TAVEX SA TVXE B3 -10622070.67 655950832
GS MULTI-CURRENC 4780921Z ID -218031502.7 1766463253
GUENTHER & SOHN 0876248D PZ -9612095.264 130075209
GUENTHER & SOHN GUS GR -9612095.264 130075209
GUENTHER & SOHN GUS EU -9612095.264 130075209
GUENTHER & SOHN GUS EO -9612095.264 130075209
GUERRINO PIVATO 4292565Z IM -41218066.44 397216267.9
GUKOVUGOL GUUG RU -57835249.92 143665227.2
GUKOVUGOL GUUG* RU -57835249.92 143665227.2
GUKOVUGOL-PFD GUUGP* RU -57835249.92 143665227.2
GUKOVUGOL-PFD GUUGP RU -57835249.92 143665227.2
GURIEVSKY-BRD GUMZ RU -34332884.78 165760790.1
GURIEVSKY-BRD GUMZ* RU -34332884.78 165760790.1
HALCROW HOLDINGS 3892894Z LN -483549930.1 279175214.8
HALS-DEVEL- GDR 86PN LI -874213546.6 3351127450
HALS-DEVEL- GDR 86PN LN -874213546.6 3351127450
HALS-DEVELOPMENT HALSG RU -874213546.6 3351127450
HALS-DEVELOPMENT HALSUSD EO -874213546.6 3351127450
HALS-DEVELOPMENT SYR GR -874213546.6 3351127450
HALS-DEVELOPMENT HALS EB -874213546.6 3351127450
HALS-DEVELOPMENT HALSM RU -874213546.6 3351127450
HALS-DEVELOPMENT HALS RM -874213546.6 3351127450
HALS-DEVELOPMENT HALS* RU -874213546.6 3351127450
HALS-DEVELOPMENT HALS LI -874213546.6 3351127450
HALS-DEVELOPMENT HALSL L3 -874213546.6 3351127450
HALS-DEVELOPMENT HALS TQ -874213546.6 3351127450
HALS-DEVELOPMENT HALSL BQ -874213546.6 3351127450
HALS-DEVELOPMENT HALSL S2 -874213546.6 3351127450
HALS-DEVELOPMENT HALS RU -874213546.6 3351127450
HALS-DEVELOPMENT HALSL B3 -874213546.6 3351127450
HARMSWORTH PRINT 1552314Z LN -5997756.143 101541044.1
HARMSWORTH QUAYS 1552378Z LN -98887198.25 199544701.9
HARVEY NORMAN HO 4781809Z ID -119046067 111163663.4
HATZIOANNOU HATZK PZ -54973436.99 102255716.8
HATZIOANNOU HZI1 GR -54973436.99 102255716.8
HATZIOANNOU HATZK GA -54973436.99 102255716.8
HATZIOANNOU HATZK EO -54973436.99 102255716.8
HATZIOANNOU HATZK EU -54973436.99 102255716.8
HATZIOANNOU ANON HATZP EU -54973436.99 102255716.8
HATZIOANNOU ANON HATZP PZ -54973436.99 102255716.8
HATZIOANNOU ANON HATZP EO -54973436.99 102255716.8
HATZIOANNOU ANON HATZP GA -54973436.99 102255716.8
HATZIOANNOU-RTS HATZKR GA -54973436.99 102255716.8
HAYMARKET GROUP 4158941Z LN -72068008.6 252361040.7
HBPOLSKA HBPEUR EO -239476687.5 175703330.6
HBPOLSKA HBWL PZ -239476687.5 175703330.6
HBPOLSKA HBP PW -239476687.5 175703330.6
HBPOLSKA HBP EU -239476687.5 175703330.6
HBPOLSKA HBW PW -239476687.5 175703330.6
HBPOLSKA HBP LI -239476687.5 175703330.6
HBPOLSKA HBPEUR EU -239476687.5 175703330.6
HBPOLSKA HBP EO -239476687.5 175703330.6
HBPOLSKA-PD-ALLT HBPA PW -239476687.5 175703330.6
HEEGH AUTOLINERS 4389209Z NO -812350.1488 537484504.9
HELI-ONE NORWAY 4632761Z NO -79370156.68 663779418
HELLAS ONLIN-RTS HOLR GA -16749909.57 344522957.8
HELLAS ONLINE SA HOLY B3 -16749909.57 344522957.8
HELLAS ONLINE SA HOL GA -16749909.57 344522957.8
HELLAS ONLINE SA UN5 GR -16749909.57 344522957.8
HELLAS ONLINE SA BRAIN EU -16749909.57 344522957.8
HELLAS ONLINE SA BRAIN PZ -16749909.57 344522957.8
HELLAS ONLINE SA BRAIN EO -16749909.57 344522957.8
HELLAS ONLINE SA 0394471Q GA -16749909.57 344522957.8
HELLAS ONLINE SA BRAIN GA -16749909.57 344522957.8
HELLAS ONLINE SA HOLY L3 -16749909.57 344522957.8
HELLAS ONLINE SA HOLY S2 -16749909.57 344522957.8
HELLENIC FAB-RTS ELYFD GA -38109769.06 118721472.5
HELLENIC FABRICS ELYF GA -38109769.06 118721472.5
HELLENIC FABRICS ELYF PZ -38109769.06 118721472.5
HELLENIC FABRICS ELYFY S2 -38109769.06 118721472.5
HELLENIC FABRICS ELYF EO -38109769.06 118721472.5
HELLENIC FABRICS ELYFY L3 -38109769.06 118721472.5
HELLENIC FABRICS ELYF EU -38109769.06 118721472.5
HELLENIC FABRICS ELYFY B3 -38109769.06 118721472.5
HELLENIC S-AUCT HSIE GA -8831314.748 320019241.9
HELLENIC SUGAR HE7 GR -8831314.748 320019241.9
HELLENIC SUGAR HSI EU -8831314.748 320019241.9
HELLENIC SUGAR HSI GA -8831314.748 320019241.9
HELLENIC SUGAR HSI EO -8831314.748 320019241.9
HELLENIC SUGAR HIS GA -8831314.748 320019241.9
HELLENIC SUGAR HSI1 PZ -8831314.748 320019241.9
HELLENIC SUGAR I HSIY L3 -8831314.748 320019241.9
HELLENIC SUGAR I HSIY B3 -8831314.748 320019241.9
HELLENIC SUGAR I HSIY S2 -8831314.748 320019241.9
HERSAL-INVESTIME 4764577Z PL -25242472.01 595266653.4
HESS INDONESIA P 1705776Z LN -22193000 816726976
HEWLETT-PACKARD 4470239Z FP -244195175.5 1053527540
HEWLETT-PACKARD 1963382Z LN -909454604.5 4585176328
HIBU PLC YELL5 EO -2257521127 2120614224
HIBU PLC YELL7 EO -2257521127 2120614224
HIBU PLC YELL8 EO -2257521127 2120614224
HIBU PLC YELL2 EO -2257521127 2120614224
HIBU PLC YELL6 EO -2257521127 2120614224
HIBU PLC YELL4 EO -2257521127 2120614224
HIBU PLC HIBU1 EO -2257521127 2120614224
HIBU PLC YELL9 EO -2257521127 2120614224
HIBU PLC HIBUI GR -2257521127 2120614224
HIBU PLC YELL3 EO -2257521127 2120614224
HIBU PLC YELL1 EO -2257521127 2120614224
HIBU PLC HIBU BQ -2257521127 2120614224
HIBU PLC HIBUGBP EO -2257521127 2120614224
HIBU PLC YELLGBP EO -2257521127 2120614224
HIBU PLC YELL EO -2257521127 2120614224
HIBU PLC YELL IX -2257521127 2120614224
HIBU PLC YELL BQ -2257521127 2120614224
HIBU PLC YELL EB -2257521127 2120614224
HIBU PLC YELL QM -2257521127 2120614224
HIBU PLC YELL TQ -2257521127 2120614224
HIBU PLC YE1 GR -2257521127 2120614224
HIBU PLC HIBUEUR EU -2257521127 2120614224
HIBU PLC HIBU PZ -2257521127 2120614224
HIBU PLC HIBU TQ -2257521127 2120614224
HIBU PLC YELL NR -2257521127 2120614224
HIBU PLC HIBU EB -2257521127 2120614224
HIBU PLC YELGF US -2257521127 2120614224
HIBU PLC HIBUUSD EU -2257521127 2120614224
HIBU PLC YELLUSD EO -2257521127 2120614224
HIBU PLC YELL S1 -2257521127 2120614224
HIBU PLC YELLUSD EU -2257521127 2120614224
HIBU PLC YELLEUR EU -2257521127 2120614224
HIBU PLC HIBU IX -2257521127 2120614224
HIBU PLC YELL EU -2257521127 2120614224
HIBU PLC YEL EO -2257521127 2120614224
HIBU PLC HIBU EO -2257521127 2120614224
HIBU PLC YELLEUR EO -2257521127 2120614224
HIBU PLC HIBU QM -2257521127 2120614224
HIBU PLC YE1 GK -2257521127 2120614224
HIBU PLC HIBU EU -2257521127 2120614224
HIBU PLC HIBU LN -2257521127 2120614224
HIBU PLC-ADR YELGY US -2257521127 2120614224
HIDRODATA SA 3635591Z SM -51941488.18 216193613.3
HIGHLANDS & ISLA 3965324Z LN -17267598.2 151175056.7
HIPPO GESTION ET 4732841Z FP -11276215.78 121769659.7
HISPAVIC IBERICA 4369473Z SM -7466862.615 129050823.9
HMV GROUP -GDR 29362Z US -218494079.6 415854059.2
HMV GROUP -GDR 276960Q GR -218494079.6 415854059.2
HMV GROUP PLC HMV PZ -218494079.6 415854059.2
HMV GROUP PLC HMV EO -218494079.6 415854059.2
HMV GROUP PLC HMV EU -218494079.6 415854059.2
HMV GROUP PLC HMV S1 -218494079.6 415854059.2
HMV GROUP PLC HMV NQ -218494079.6 415854059.2
HMV GROUP PLC HMV PO -218494079.6 415854059.2
HMV GROUP PLC HMVEUR EO -218494079.6 415854059.2
HMV GROUP PLC HMVUSD EO -218494079.6 415854059.2
HMV GROUP PLC HMVMF US -218494079.6 415854059.2
HMV GROUP PLC HMV LN -218494079.6 415854059.2
HMV GROUP PLC HMV EB -218494079.6 415854059.2
HMV GROUP PLC HMV BQ -218494079.6 415854059.2
HMV GROUP PLC HMV TQ -218494079.6 415854059.2
HMV GROUP PLC HMV IX -218494079.6 415854059.2
HMV GROUP PLC HMV VX -218494079.6 415854059.2
HMV GROUP PLC HMV10 EO -218494079.6 415854059.2
HMV GROUP PLC HMV1 EO -218494079.6 415854059.2
HMV GROUP PLC HMV6 EO -218494079.6 415854059.2
HMV GROUP PLC HMV8 EO -218494079.6 415854059.2
HMV GROUP PLC HMV4 EO -218494079.6 415854059.2
HMV GROUP PLC HMVGBP EO -218494079.6 415854059.2
HMV GROUP PLC HMVUSD EU -218494079.6 415854059.2
HMV GROUP PLC HMVEUR EU -218494079.6 415854059.2
HMV GROUP PLC HMV NR -218494079.6 415854059.2
HMV GROUP PLC HMV7 EO -218494079.6 415854059.2
HMV GROUP PLC HM4 GK -218494079.6 415854059.2
HMV GROUP PLC HMV3 EO -218494079.6 415854059.2
HMV GROUP PLC HM4 GR -218494079.6 415854059.2
HMV GROUP PLC HMV9 EO -218494079.6 415854059.2
HMV GROUP PLC HMV5 EO -218494079.6 415854059.2
HMV GROUP PLC HMV2 EO -218494079.6 415854059.2
HMV GROUP PLC HMV QM -218494079.6 415854059.2
HOEGH AUTOLINERS 4288645Z NO -79685780.8 1940832344
HOGG ROBINSON GR HRG9 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG2 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG S1 -43466918.99 713635983.5
HOGG ROBINSON GR HRG PZ -43466918.99 713635983.5
HOGG ROBINSON GR HRG4 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRGEUR EO -43466918.99 713635983.5
HOGG ROBINSON GR HOGGF US -43466918.99 713635983.5
HOGG ROBINSON GR HRG3 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG10 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRGEUR EU -43466918.99 713635983.5
HOGG ROBINSON GR HRGGBP EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG EU -43466918.99 713635983.5
HOGG ROBINSON GR HRG IX -43466918.99 713635983.5
HOGG ROBINSON GR HRG VX -43466918.99 713635983.5
HOGG ROBINSON GR HRG11 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG6 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRGL B3 -43466918.99 713635983.5
HOGG ROBINSON GR HRG7 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRGL L3 -43466918.99 713635983.5
HOGG ROBINSON GR HRG5 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRGL S2 -43466918.99 713635983.5
HOGG ROBINSON GR HRG8 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG LN -43466918.99 713635983.5
HOGG ROBINSON GR DQX GR -43466918.99 713635983.5
HOLCIM ARIDOS SL 4371033Z SM -11196144.03 158669280.5
HOLDINGSELSKABET BODIL DC -11320362.36 176234024
HOLDINGSELSKABET BOHC IX -11320362.36 176234024
HOMEFIELD PVT UK 4501835Z LN -137159188.5 565018471.7
HOOGE RAEDT GROE 4173317Z NA -19843.75064 208161796.3
HOOVER LTD 4380321Z LN -155286370.7 182855507.8
HOSPITAL DE FARO 3789880Z PL -39940408.05 525339055.1
HOSPITAL DISTRIT 3778128Z PL -10535872.48 108186725.8
HOSPITAL DO DIVI 3789932Z PL -194376369.9 195688884.2
HUISVUILCENTRALE 4777713Z NA -96523.00358 1420935808
HUNE PLATAFORMAS 4284309Z SM -34729091.55 417373379.8
HUNGARIAN TELEPH HUC EX -187076880 1192440960
HUNGARIAN TELEPH HUGC IX -187076880 1192440960
HUTCHISON 3G UK 265923Z LN -2558478023 10215382954
HYDREX HOLDINGS 4156949Z LN -150851800.9 145586068.7
HZIAM OAO HZAM UZ -541300032 170562496
I VIAGGI DEL VEN VVE EU -209432168.7 202700610
I VIAGGI DEL VEN IVGIF US -209432168.7 202700610
I VIAGGI DEL VEN VVE IM -209432168.7 202700610
I VIAGGI DEL VEN VVE IX -209432168.7 202700610
I VIAGGI DEL VEN VVE EO -209432168.7 202700610
I VIAGGI DEL VEN VVE TQ -209432168.7 202700610
I VIAGGI DEL VEN VVE PZ -209432168.7 202700610
I VIAGGI DEL VEN IV7 GR -209432168.7 202700610
I VIAGGI-RTS VVEAA IM -209432168.7 202700610
ICA NORGE AS 4511499Z NO -10597581.14 609028093.3
IDEAL STANDARD I 0288212Z LX -1505758856 1697563897
IDEAL STANDARD I 4492755Z BB -676586892.7 1579994753
IG GROUP LTD IGI LN -1338038148 453218507.9
IG GROUP PLC IGGPF US -1338038148 453218507.9
IG GROUP-ASSD IGIA LN -1338038148 453218507.9
IKON OFFICE SOLU ERHI LN -5243204.755 130041029.9
INCISIVE MED-ASD INMA LN -86381452.08 110502446.1
INCISIVE MEDIA 2292912Q VX -86381452.08 110502446.1
INCISIVE MEDIA INM IX -86381452.08 110502446.1
INCISIVE MEDIA 2290657Q LN -86381452.08 110502446.1
INCISIVE MEDIA 4030Z LN -86381452.08 110502446.1
INCISIVE MEDIA INM PO -86381452.08 110502446.1
INCISIVE MEDIA 997071Q GR -86381452.08 110502446.1
INCISIVE MEDIA 2290661Q PZ -86381452.08 110502446.1
INDEP NEWS & MED IPD GR -53119001.67 310849009.8
INDEP NEWS & MED INWS IX -53119001.67 310849009.8
INDEP NEWS & MED INM EB -53119001.67 310849009.8
INDEP NEWS & MED INM LN -53119001.67 310849009.8
INDEP NEWS & MED INM1 EO -53119001.67 310849009.8
INDEP NEWS & MED INM1GBX EO -53119001.67 310849009.8
INDEP NEWS & MED IPDC QX -53119001.67 310849009.8
INDEP NEWS & MED INM1 IX -53119001.67 310849009.8
INDEP NEWS & MED INWS ID -53119001.67 310849009.8
INDEP NEWS & MED INWS PO -53119001.67 310849009.8
INDEP NEWS & MED INM1 TQ -53119001.67 310849009.8
INDEP NEWS & MED INM ID -53119001.67 310849009.8
INDEP NEWS & MED INNS VX -53119001.67 310849009.8
INDEP NEWS & MED INM1 EU -53119001.67 310849009.8
INDEP NEWS & MED INM VX -53119001.67 310849009.8
INDEP NEWS & MED IPDC GK -53119001.67 310849009.8
INDEP NEWS & MED INP NZ -53119001.67 310849009.8
INDEP NEWS & MED IPD PO -53119001.67 310849009.8
INDEP NEWS & MED IPDC GR -53119001.67 310849009.8
INDEP NEWS & MED INNZF US -53119001.67 310849009.8
INDEP NEWS & MED INM1 EB -53119001.67 310849009.8
INDEP NEWS & MED INM1 NQ -53119001.67 310849009.8
INDEP NEWS & MED INM S1 -53119001.67 310849009.8
INDEP NEWS & MED INM PZ -53119001.67 310849009.8
INDEP NEWS & MED INWS LN -53119001.67 310849009.8
INDEP NEWS & MED INM1 NR -53119001.67 310849009.8
INDEP NEWS & MED IPD PZ -53119001.67 310849009.8
INDEP NEWS & MED INM1GBX EU -53119001.67 310849009.8
INDEP NEWS &-F/P INWF LN -53119001.67 310849009.8
INDEP NEWS &-F/P IPDC ID -53119001.67 310849009.8
INDEP NEWS &-N/P INWN LN -53119001.67 310849009.8
INDEP NEWS &-N/P INDB ID -53119001.67 310849009.8
INDEP NEWS &-NEW INWN ID -53119001.67 310849009.8
INDEP NEWS &-NEW IPDA GR -53119001.67 310849009.8
INDEP NEWS-ADR INNZY US -53119001.67 310849009.8
INDEP NEWSPAPERS QQIAF US -53119001.67 310849009.8
INDEP NEWSPAPERS IPNWF US -53119001.67 310849009.8
INDEPENDENT NEWS IPDCI S2 -53119001.67 310849009.8
INDEPENDENT NEWS INML S2 -53119001.67 310849009.8
INDEPENDENT NEWS INML B3 -53119001.67 310849009.8
INDEPENDENT NEWS IPDCI B3 -53119001.67 310849009.8
INDEPENDENT NEWS IPDCI L3 -53119001.67 310849009.8
INDEPENDENT NEWS INML L3 -53119001.67 310849009.8
INDEPENDENT-FPR INMF LN -53119001.67 310849009.8
INDEPENDENT-FPR INMF PZ -53119001.67 310849009.8
INDEPENDENT-FPR INMF ID -53119001.67 310849009.8
INDEPENDENT-NPR INMN ID -53119001.67 310849009.8
INDEPENDENT-NPR INMN LN -53119001.67 310849009.8
INDEPENDENT-NPR INMN PZ -53119001.67 310849009.8
INDIVIOR PLC 2IV TH -475000018.1 747000000.5
INDIVIOR PLC 2IV QT -475000018.1 747000000.5
INDIVIOR PLC INDVL L3 -475000018.1 747000000.5
INDIVIOR PLC 2IVD L3 -475000018.1 747000000.5
INDIVIOR PLC INDV LN -475000018.1 747000000.5
INDIVIOR PLC INDVEUR EU -475000018.1 747000000.5
INDIVIOR PLC INDVEUR EO -475000018.1 747000000.5
INDIVIOR PLC INDVL B3 -475000018.1 747000000.5
INDIVIOR PLC 2IVD B3 -475000018.1 747000000.5
INDIVIOR PLC INDVUSD EU -475000018.1 747000000.5
INDIVIOR PLC INDVUSD EO -475000018.1 747000000.5
INDIVIOR PLC IZQVF US -475000018.1 747000000.5
INDIVIOR PLC INDVL EB -475000018.1 747000000.5
INDIVIOR PLC INDVL IX -475000018.1 747000000.5
INDIVIOR PLC INDVL QX -475000018.1 747000000.5
INDIVIOR PLC INDVGBX EU -475000018.1 747000000.5
INDIVIOR PLC INDVGBX EO -475000018.1 747000000.5
INDIVIOR PLC INDVL TQ -475000018.1 747000000.5
INDIVIOR PLC 2IV GR -475000018.1 747000000.5
INDIVIOR PLC 0678492D LN -475000018.1 747000000.5
INDIVIOR PLC 1186494D GR -475000018.1 747000000.5
INDIVIOR PLC-ADR INVVY US -475000018.1 747000000.5
INDIVIOR PLC-ADR 2IVA GR -475000018.1 747000000.5
INDUSTRIBO-B INBOB DC -49485067.68 159639319.3
INDUSTRIBO-B FRMHB DC -49485067.68 159639319.3
INDUSTRIE FINCUO 4270053Z IM -15676157.12 111118283.9
INFRAESTRUCTURAS 3639039Z SM -14511951.75 257249100.4
INFRASERV GMBH & 3999Z GR -1643026.503 1298455493
INFRATEK ENTREPR 4402489Z NO -8851664.805 122555001.7
ING LEASE FRANCE 4699881Z FP -40970505.14 342324424.9
ING RE DORTMUND/ 3819456Z NA -89466987.51 138523135
ING REIM DEVELOP 3811140Z NA -224924377.7 373174398
INTEGRALIS AG AAGN PZ -30518620.96 237457667.5
INTEGRALIS AG AAGN IX -30518620.96 237457667.5
INTEGRALIS AG AAGN TH -30518620.96 237457667.5
INTEGRALIS AG ACIRF US -30518620.96 237457667.5
INTEGRALIS-NEW AAGM EU -30518620.96 237457667.5
INTEGRALIS-NEW AAGM GR -30518620.96 237457667.5
INTEGRALIS-NEW AAGM EO -30518620.96 237457667.5
INTELSAT GLOBAL 0440101D US -742566976 16469354496
INTELSAT SA IJSA GR -742566976 16469354496
INTELSAT SA I US -742566976 16469354496
INTERCONTIN-ADR IHGA LN -717000000 2817999872
INTERCONTIN-ADR IC1C GR -717000000 2817999872
INTERCONTIN-ADR IHG US -717000000 2817999872
INTERCONTIN-ADR IHG-W US -717000000 2817999872
INTERCONTIN-ADR IC1E GR -717000000 2817999872
INTERCONTINENTAL IHGEUR EO -717000000 2817999872
INTERCONTINENTAL IHGL L3 -717000000 2817999872
INTERCONTINENTAL IHGOF US -717000000 2817999872
INTERCONTINENTAL IHGL S2 -717000000 2817999872
INTERCONTINENTAL IHG5 EO -717000000 2817999872
INTERCONTINENTAL IHGL B3 -717000000 2817999872
INTERCONTINENTAL 0616112D NR -717000000 2817999872
INTERCONTINENTAL IHG IX -717000000 2817999872
INTERCONTINENTAL IHG9 EO -717000000 2817999872
INTERCONTINENTAL IHG3 EO -717000000 2817999872
INTERCONTINENTAL 988082Q GR -717000000 2817999872
INTERCONTINENTAL IHG7 EO -717000000 2817999872
INTERCONTINENTAL ICHGFN L3 -717000000 2817999872
INTERCONTINENTAL IHG EU -717000000 2817999872
INTERCONTINENTAL ICHGFN B3 -717000000 2817999872
INTERCONTINENTAL IHG QM -717000000 2817999872
INTERCONTINENTAL IHG EO -717000000 2817999872
INTERCONTINENTAL IHGUSD EO -717000000 2817999872
INTERCONTINENTAL 0615615D GR -717000000 2817999872
INTERCONTINENTAL IHGCHF EU -717000000 2817999872
INTERCONTINENTAL IHG8 EO -717000000 2817999872
INTERCONTINENTAL IHG6 EO -717000000 2817999872
INTERCONTINENTAL IHG NQ -717000000 2817999872
INTERCONTINENTAL IHG EB -717000000 2817999872
INTERCONTINENTAL IC1 GR -717000000 2817999872
INTERCONTINENTAL IHG VX -717000000 2817999872
INTERCONTINENTAL IHGCHF EO -717000000 2817999872
INTERCONTINENTAL IHGEUR EU -717000000 2817999872
INTERCONTINENTAL IHG PO -717000000 2817999872
INTERCONTINENTAL IHGPEN EO -717000000 2817999872
INTERCONTINENTAL IHGUSD EU -717000000 2817999872
INTERCONTINENTAL IHGPEN EU -717000000 2817999872
INTERCONTINENTAL IHG10 EO -717000000 2817999872
INTERCONTINENTAL ICHGF US -717000000 2817999872
INTERCONTINENTAL IHGGBP EO -717000000 2817999872
INTERCONTINENTAL IHG11 EO -717000000 2817999872
INTERCONTINENTAL IHG2 EO -717000000 2817999872
INTERCONTINENTAL IHG BQ -717000000 2817999872
INTERCONTINENTAL IC1B GR -717000000 2817999872
INTERCONTINENTAL IHG TQ -717000000 2817999872
INTERCONTINENTAL IHG4 EO -717000000 2817999872
INTERCONTINENTAL IHG PZ -717000000 2817999872
INTERCONTINENTAL IHG QX -717000000 2817999872
INTERCONTINENTAL ICHGD US -717000000 2817999872
INTERCONTINENTAL IHG NR -717000000 2817999872
INTERCONTINENTAL IC1A GR -717000000 2817999872
INTERCONTINENTAL IHG S1 -717000000 2817999872
INTERCONTINENTAL IC1D GR -717000000 2817999872
INTERCONTINENTAL IC1A GK -717000000 2817999872
INTERCONTINENTAL IHG LN -717000000 2817999872
INTERCONTINENTAL INCNF US -717000000 2817999872
INTU METROCENTRE 1203663Z LN -302495159.7 419782439.6
INVITEL HOLD-ADR 0IN GR -187076880 1192440960
INVITEL HOLD-ADR IHO US -187076880 1192440960
INVITEL HOLD-ADR INVHY US -187076880 1192440960
INVITEL HOLDINGS 3212873Z HB -187076880 1192440960
IRANIAN OIL CO U 1380570Z LN -202472920.8 279941193.8
IRISH NATIONWIDE 1020Z ID -24459779.01 16215363311
IRUS ZWEIBRUCKEN 3738979Z BB -241717.0423 109895201.2
ISTRABENZ ITBG EU -60693574.46 254428884.6
ISTRABENZ ITBGT B3 -60693574.46 254428884.6
ISTRABENZ ITBGT S2 -60693574.46 254428884.6
ISTRABENZ ITBG EO -60693574.46 254428884.6
ISTRABENZ ITBG SV -60693574.46 254428884.6
ISTRABENZ ITBG PZ -60693574.46 254428884.6
ISTRABENZ ITBGT L3 -60693574.46 254428884.6
ITM ALIMENTAIRE 4171373Z BB -5770953.189 103462599.4
ITM REGION PARIS 4681817Z FP -49661385.76 124319348.6
IZHAVTO OAO IZAV RU -94100821.69 443610350.5
JACOBS UK HOLDIN 3638823Z LN -21104249.79 705658066.8
JAMES HARDIE -CD JHXCD AU -224400000 2015200000
JAMES HARDIE IND 600241Q GR -224400000 2015200000
JAMES HARDIE IND HAH NZ -224400000 2015200000
JAMES HARDIE IND HAH AU -224400000 2015200000
JAMES HARDIE IND 726824Z NA -224400000 2015200000
JAMES HARDIE NV JHXCC AU -224400000 2015200000
JAMES HARDIE-ADR JHINY US -224400000 2015200000
JAMES HARDIE-ADR JHX US -224400000 2015200000
JAMES HARDIE-ADR JHX SP -224400000 2015200000
JAMES HARDIE-CDI JHA TH -224400000 2015200000
JAMES HARDIE-CDI JHX AU -224400000 2015200000
JAMES HARDIE-CDI JHXEUR EO -224400000 2015200000
JAMES HARDIE-CDI JHXEUR EU -224400000 2015200000
JAMES HARDIE-CDI JHIUF US -224400000 2015200000
JAMES HARDIE-CDI JHA GR -224400000 2015200000
JARVIS PLC JRVS7 EO -64738078.31 130947476.6
JARVIS PLC JVSPF US -64738078.31 130947476.6
JARVIS PLC JRVS EU -64738078.31 130947476.6
JARVIS PLC JRVSGBP EO -64738078.31 130947476.6
JARVIS PLC JRVS2 EO -64738078.31 130947476.6
JARVIS PLC JRVS8 EO -64738078.31 130947476.6
JARVIS PLC JRVS3 EO -64738078.31 130947476.6
JARVIS PLC JRVS EO -64738078.31 130947476.6
JARVIS PLC JRVS4 EO -64738078.31 130947476.6
JARVIS PLC JRVS5 EO -64738078.31 130947476.6
JARVIS PLC JRVS IX -64738078.31 130947476.6
JARVIS PLC JRV EO -64738078.31 130947476.6
JARVIS PLC JRVSEUR EU -64738078.31 130947476.6
JARVIS PLC JRVS1 EO -64738078.31 130947476.6
JARVIS PLC JRVS LN -64738078.31 130947476.6
JARVIS PLC JRVS PZ -64738078.31 130947476.6
JARVIS PLC JVR GR -64738078.31 130947476.6
JARVIS PLC JRVSEUR EO -64738078.31 130947476.6
JARVIS PLC JRVS6 EO -64738078.31 130947476.6
JARVIS PLC JRVS9 EO -64738078.31 130947476.6
JARVIS PLC JRVS PO -64738078.31 130947476.6
JARVIS PLC JRVS VX -64738078.31 130947476.6
JDR ENTERPRISES 3947788Z LN -62221895.94 150357985.7
JESSOPS PLC JSP PO -42703065.53 112966830.6
JESSOPS PLC JSP EO -42703065.53 112966830.6
JESSOPS PLC JSP IX -42703065.53 112966830.6
JESSOPS PLC JS4 GR -42703065.53 112966830.6
JESSOPS PLC JSPEUR EU -42703065.53 112966830.6
JESSOPS PLC JSPEUR EO -42703065.53 112966830.6
JESSOPS PLC JSP VX -42703065.53 112966830.6
JESSOPS PLC JSP PZ -42703065.53 112966830.6
JESSOPS PLC JSP LN -42703065.53 112966830.6
JESSOPS PLC JSP EU -42703065.53 112966830.6
JESSOPS PLC JSPGBP EO -42703065.53 112966830.6
JEUDAN III A/S 3986972Z DC -80338193.89 277838976.7
JP MCDOUGALL & C 1293298Z LN -59332025.51 108780794.1
JPMORGAN CAZENOV 1076890Z LN -3273441.597 147502007.3
JULIE LH BVBA 3739923Z BB -65462971.58 119397670.6
JVC EUROPE LTD 2667041Z LN -2824796.147 131998340.5
KABEL DEUT-ASST KD8V GR -1901940864 3182972434
KABEL DEUTS-CW10 DB7KWG GR -1901940864 3182972434
KABEL DEUTSC-ADR KBDHY US -1901940864 3182972434
KABEL DEUTSC-NEW KD8VEUR EO -1901940864 3182972434
KABEL DEUTSC-NEW KD8VEUR EU -1901940864 3182972434
KABEL DEUTSCHLAN KD8USD EO -1901940864 3182972434
KABEL DEUTSCHLAN KD8 S1 -1901940864 3182972434
KABEL DEUTSCHLAN KD8 TQ -1901940864 3182972434
KABEL DEUTSCHLAN KD8 EO -1901940864 3182972434
KABEL DEUTSCHLAN KD8 QX -1901940864 3182972434
KABEL DEUTSCHLAN KD8D S2 -1901940864 3182972434
KABEL DEUTSCHLAN KD8 EU -1901940864 3182972434
KABEL DEUTSCHLAN KD8D L3 -1901940864 3182972434
KABEL DEUTSCHLAN KD8 IX -1901940864 3182972434
KABEL DEUTSCHLAN KD8 QM -1901940864 3182972434
KABEL DEUTSCHLAN KD8USD EU -1901940864 3182972434
KABEL DEUTSCHLAN KD8 GR -1901940864 3182972434
KABEL DEUTSCHLAN KD8D B3 -1901940864 3182972434
KABEL DEUTSCHLAN KD8 EB -1901940864 3182972434
KABEL DEUTSCHLAN KD8 LI -1901940864 3182972434
KABEL DEUTSCHLAN KD8 SW -1901940864 3182972434
KABEL DEUTSCHLAN KBDHF US -1901940864 3182972434
KABEL DEUTSCHLAN KD8 NR -1901940864 3182972434
KABEL DEUTSCHLAN KD8CHF EU -1901940864 3182972434
KABEL DEUTSCHLAN KD8CHF EO -1901940864 3182972434
KABEL DEUTSCHLAN KD8 PZ -1901940864 3182972434
KABEL DEUTSCHLAN KD8 QT -1901940864 3182972434
KABEL DEUTSCHLAN KD8 BQ -1901940864 3182972434
KABEL DEUTSCHLAN KD8 TH -1901940864 3182972434
KABEL DEUTSCHLAN KD8GBP EO -1901940864 3182972434
KARENI BV 3140496Z NA -22200.29082 127062363.4
KAUFRING AG KFR EU -19296489.56 150995473.8
KAUFRING AG KFR PZ -19296489.56 150995473.8
KAUFRING AG KFR GR -19296489.56 150995473.8
KAUFRING AG KAUG IX -19296489.56 150995473.8
KAUFRING AG KFR EO -19296489.56 150995473.8
KCA DEUTAG DRILL 2173132Z LN -40951514.04 214072287.9
KEREVITAS GIDA KVTGF US -7228939.141 195026590
KEREVITAS GIDA KERVT TI -7228939.141 195026590
KERLING PLC 3537299Z LN -110412955.5 2082150198
KESA ELECTRI-ADR KESAY US -418911342.6 1563994117
KESA ELECTRICALS KESA LN -418911342.6 1563994117
KESA ELECTRICALS KESAEUR EO -418911342.6 1563994117
KESA ELECTRICALS KESA PZ -418911342.6 1563994117
KESA ELECTRICALS KESAI IX -418911342.6 1563994117
KESA ELECTRICALS KESA VX -418911342.6 1563994117
KESA ELECTRICALS KESAUSD EU -418911342.6 1563994117
KESA ELECTRICALS KESAEUR EU -418911342.6 1563994117
KESA ELECTRICALS KES EO -418911342.6 1563994117
KESA ELECTRICALS KESA EU -418911342.6 1563994117
KESA ELECTRICALS KESAGBP EO -418911342.6 1563994117
KESA ELECTRICALS KESAUSD EO -418911342.6 1563994117
KESTREL HOLDINGS 4499515Z LN -406756176.3 507174141.5
KILMARTIN HOLDIN 3589161Z LN -32468603.82 576745598.9
KIMBERLY - CLARK 1298434Z LN -97807698.98 891995975.8
KIROV TIRE PLANT KIRT$ RU -17984240.01 104831160.6
KLEENEZE PLC KLZ LN -14328734.27 110864074.5
KME FRANCE SAS 4714545Z FP -996944.737 143591756.8
KOMBINAT ALUMINI KAPG ME -258860211.3 263843440.7
KON VOLKER WESS KVW GR -395744.3147 4036389300
KONINKLIJKE BOON 4173173Z NA -22200.29082 129620421.6
KONINKLIJKE HASK 4037221Z NA -69259.20141 230145390.9
KRONOS EUROPE SA 3643983Z BB -6946196.597 143876670.7
KROSNO KRS1EUR EU -2241576.868 111836250.4
KROSNO KRS LI -2241576.868 111836250.4
KROSNO KRS1EUR EO -2241576.868 111836250.4
KROSNO 1169011D PW -2241576.868 111836250.4
KROSNO KROS IX -2241576.868 111836250.4
KROSNO SA KRS1 EO -2241576.868 111836250.4
KROSNO SA KRNFF US -2241576.868 111836250.4
KROSNO SA KROSNO PW -2241576.868 111836250.4
KROSNO SA KRS PZ -2241576.868 111836250.4
KROSNO SA KRS1 EU -2241576.868 111836250.4
KROSNO SA-RTS KRSP PW -2241576.868 111836250.4
KROSNO-PDA-ALLT KRSA PW -2241576.868 111836250.4
KRUINENBORGH BEH 4377225Z NA -614989.4228 234051736.9
KUIPER GROEP BV 3821988Z NA -3688.420875 101931401.5
KUZNETSOV-BRD MTSTP* RU -8309982.19 365876569.3
KUZNETSOV-BRD MTST RU -8309982.19 365876569.3
KUZNETSOV-BRD MTSTP RU -8309982.19 365876569.3
KUZNETSOV-BRD MTST* RU -8309982.19 365876569.3
LA GIOVANNI-RTS CREAXA IM -42072998.36 291988991.4
LA HALLE SA 4681697Z FP -9779394.712 506881489.8
LA SEDA DE -CW09 0001692W SM -739717245.2 686984724.9
LA SEDA DE -CW09 0002108W SM -739717245.2 686984724.9
LA SEDA DE -CW09 0003348W SM -739717245.2 686984724.9
LA SEDA DE -CW09 0002109W SM -739717245.2 686984724.9
LA SEDA DE -CW09 0000508W SM -739717245.2 686984724.9
LA SEDA DE -CW09 0000507W SM -739717245.2 686984724.9
LA SEDA DE -CW09 0005210W SM -739717245.2 686984724.9
LA SEDA DE -CW09 0000663W SM -739717245.2 686984724.9
LA SEDA DE -CW09 0000662W SM -739717245.2 686984724.9
LA SEDA DE -CW09 0005211W SM -739717245.2 686984724.9
LA SEDA DE -CW09 0001691W SM -739717245.2 686984724.9
LA SEDA DE B-RTS SED/B SM -739717245.2 686984724.9
LA SEDA DE BA-RT 1015153Q SM -739717245.2 686984724.9
LA SEDA DE BARCE 3687081Q SM -739717245.2 686984724.9
LA SEDA DE BARCE SEDE S2 -739717245.2 686984724.9
LA SEDA DE BARCE SEDE B3 -739717245.2 686984724.9
LA SEDA DE BARCE 1039767Z SM -739717245.2 686984724.9
LA SEDA DE BARCE SED/D SM -739717245.2 686984724.9
LA SEDA DE BARCE SEDE L3 -739717245.2 686984724.9
LA SEDA DE BARCE 0543025D SM -739717245.2 686984724.9
LAB DOLISOS LADL FP -27753198.79 110489533.6
LAB DOLISOS DOLI FP -27753198.79 110489533.6
LABORDE GESTION 4518583Z FP -12402807.46 177436814.5
LAMBRAKIS PR -RT DOLD GA -98128969.86 188912550.2
LAMBRAKIS PRESS LA3A GR -98128969.86 188912550.2
LAMBRAKIS PRESS LA3 GR -98128969.86 188912550.2
LAMBRAKIS PRESS DOL EO -98128969.86 188912550.2
LAMBRAKIS PRESS DOLR GA -98128969.86 188912550.2
LAMBRAKIS PRESS DOL GA -98128969.86 188912550.2
LAMBRAKIS PRESS LMBKF US -98128969.86 188912550.2
LAMBRAKIS PRESS DOL EU -98128969.86 188912550.2
LAMBRAKIS PRESS DOL PZ -98128969.86 188912550.2
LAMBRAKIS R-R DOLV10 GA -98128969.86 188912550.2
LAMBRAKIS REPO DOLL10 GA -98128969.86 188912550.2
LAMBRAKIS-AUC DOLE GA -98128969.86 188912550.2
LANCASTER INVEST 1575538Z LN -87465972.36 102198480.6
LANCELOT LAND BV 4044589Z NA -97554863.6 159989870.7
LAND VAN HOP NV 3727898Z BB -4232246.124 117433048.7
LAPSENT LTD 203678Z LN -52500640.36 290374473.6
LAST MINUTE NETW 1180895Z LN -428588925.2 301782821.7
LASTAS A/S-A 0122306D DC -49485067.68 159639319.3
LASTAS A/S-B SHS LASTB EU -49485067.68 159639319.3
LASTAS A/S-B SHS LASTB DC -49485067.68 159639319.3
LASTAS A/S-B SHS LASTBEUR EU -49485067.68 159639319.3
LASTAS A/S-B SHS INBO IX -49485067.68 159639319.3
LASTAS A/S-B SHS LAST/B PZ -49485067.68 159639319.3
LASTAS A/S-B SHS LASTBEUR EO -49485067.68 159639319.3
LASTAS A/S-B SHS LASTB EO -49485067.68 159639319.3
LASTAS A/S-B SHS LASTB BY -49485067.68 159639319.3
LATIMER GROUP LT 4089809Z LN -879564577.7 791552405.4
LAVIPHARM S.A. LAVIY L3 -51677867.79 109024893.7
LAVIPHARM S.A. LAVIY S2 -51677867.79 109024893.7
LAVIPHARM S.A. LAVIY B3 -51677867.79 109024893.7
LAVIPHARM SA LVIXF US -51677867.79 109024893.7
LAVIPHARM SA LAVI EU -51677867.79 109024893.7
LAVIPHARM SA LAVI PZ -51677867.79 109024893.7
LAVIPHARM SA LVP GR -51677867.79 109024893.7
LAVIPHARM SA LAVI GA -51677867.79 109024893.7
LAVIPHARM SA BXA GR -51677867.79 109024893.7
LAVIPHARM SA LAVI EO -51677867.79 109024893.7
LAVIPHARM SA-RTS LAVID GA -51677867.79 109024893.7
LAVIPHARM SA-RTS LAVIR GA -51677867.79 109024893.7
LAVIPHARM-AUC LAVIE GA -51677867.79 109024893.7
LEEDS SPORTING LEDPF US -73166148.8 143762193.7
LEEDS SPORTING LES LN -73166148.8 143762193.7
LEEDS UNITED PLC LUFC LN -73166148.8 143762193.7
LEEDS UNITED PLC 889687Q GR -73166148.8 143762193.7
LEEDS UNITED PLC LDSUF US -73166148.8 143762193.7
LENOVO BELGIUM S 3740171Z BB -104525176.2 1113548956
LIBERTY GL EU-A UPC NA -5505478850 5112616630
LIBRA GROUP PLC LHG EO -39648682.41 209021322.6
LIBRA GROUP PLC LHGCYP EU -39648682.41 209021322.6
LIBRA GROUP PLC LHGCYP EO -39648682.41 209021322.6
LIBRA GROUP PLC LHG EU -39648682.41 209021322.6
LIBRA GROUP PLC LHG CY -39648682.41 209021322.6
LIBRA HOLIDA-RTS LBR CY -39648682.41 209021322.6
LIBRA HOLIDA-RTS LGWR CY -39648682.41 209021322.6
LIBRA HOLIDAY-RT 3167808Z CY -39648682.41 209021322.6
LIBRA HOLIDAYS LHGR CY -39648682.41 209021322.6
LIBRA HOLIDAYS G LHG PZ -39648682.41 209021322.6
LIBRA HOLIDAYS-P LBHG PZ -39648682.41 209021322.6
LIBRA HOLIDAYS-P LBHG CY -39648682.41 209021322.6
LIBRO AG LB6 GR -110486313.8 174004185
LIBRO AG LIBR AV -110486313.8 174004185
LIBRO AG LIB AV -110486313.8 174004185
LIBRO AG LBROF US -110486313.8 174004185
LIGHT METALS IND ETEMY L3 -7598573.75 160361172.3
LIGHT METALS IND ETEMY B3 -7598573.75 160361172.3
LIGHT METALS IND ETEMY S2 -7598573.75 160361172.3
LINO MANAGEMENT 3774416Z NA -394579184.5 685321652.6
LIONCOVER INSURA 1120431Z LN -221634.5078 741448932.8
LIVERPOOL FOOTBA 1273434Z LN -67663901.97 349487574.1
LKAB NORGE AS 4401353Z NO -460925.3937 430135628.2
LLOYDS BANK EQUI 1214495Z LN -661502.0787 334567903.1
LLOYDS BANK EQUI 1238423Z LN -1919497.182 270431461.4
LOEWE AG LOE BQ -2861100.078 140584053.8
LOEWE AG LOE TQ -2861100.078 140584053.8
LOEWE AG LOE GR -2861100.078 140584053.8
LOEWE AG LOEK TQ -2861100.078 140584053.8
LOEWE AG LOE TH -2861100.078 140584053.8
LOEWE AG LOE PZ -2861100.078 140584053.8
LOEWE AG LOE EO -2861100.078 140584053.8
LOEWE AG LOE EU -2861100.078 140584053.8
LOEWE AG LOEG IX -2861100.078 140584053.8
LOEWE AG LOEK QT -2861100.078 140584053.8
LOEWE AG LOEK GR -2861100.078 140584053.8
LOEWE AG LOEK BQ -2861100.078 140584053.8
LOEWE AG LOE S1 -2861100.078 140584053.8
LOEWE AG LOEEF US -2861100.078 140584053.8
LOFTUS ROAD PLC LFURF US -193935862.6 120047585.7
LOMBARD CORPORAT 1162975Z LN -7309362.404 198951662.4
LONDON TOWN PLC LTWEUR EU -21897636.36 175672299.2
LONDON TOWN PLC LOU GR -21897636.36 175672299.2
LONDON TOWN PLC LTWEUR EO -21897636.36 175672299.2
LONDON TOWN PLC LTW EU -21897636.36 175672299.2
LONDON TOWN PLC LTW IX -21897636.36 175672299.2
LONDON TOWN PLC LTW PO -21897636.36 175672299.2
LONDON TOWN PLC LTW LN -21897636.36 175672299.2
LONDON TOWN PLC LTW PG -21897636.36 175672299.2
LONDON TOWN PLC LTWR LN -21897636.36 175672299.2
LONDON TOWN PLC LTW PZ -21897636.36 175672299.2
LONDON TOWN PLC LTW EO -21897636.36 175672299.2
LONDON TOWN PLC LTWX LN -21897636.36 175672299.2
LTR FINANCE NO 8 3816616Z ID -5725709.873 192004847.4
LUGANSKOBLENERGO LOEN UZ -15333824.91 193193520.1
M 2003 PLC MTWOF US -2203513803 7204891602
M 2003 PLC 203055Q LN -2203513803 7204891602
M 2003 PLC-ADR MTWOE US -2203513803 7204891602
M 2003 PLC-ADR MTWOY US -2203513803 7204891602
M-INDUSTRIYA SOMI RU -1939922.304 224642713.4
MAGMA DD MGMAREUR EU -14866764.5 104029160.5
MAGMA DD MGMARA CZ -14866764.5 104029160.5
MAGMA DD MGMARHRK EO -14866764.5 104029160.5
MAGMA DD MGMARHRK EU -14866764.5 104029160.5
MAGMA DD MGMAREUR EO -14866764.5 104029160.5
MAGNETI MARELLI 3643903Z SM -249160.3447 256260168.7
MAINAU FUNDING L 4460161Z ID -210886395.2 1273830985
MAKRO CASH & CAR 4281845Z PL -5353005.422 208082462.7
MAKRO SELF SERVI 1373618Z LN -60067907.22 319992553.1
MAN LAST OG BUSS 4521719Z NO -670202.3737 175532977.5
MAN VEHICULOS IN 3634127Z SM -6234511.698 332429019.1
MANIA TECHNOLOGI MNIG IX -35060806.41 107465704.6
MANIA TECHNOLOGI MNI GR -35060806.41 107465704.6
MANIA TECHNOLOGI MNI1 EU -35060806.41 107465704.6
MANIA TECHNOLOGI MIAVF US -35060806.41 107465704.6
MANIA TECHNOLOGI MNI NM -35060806.41 107465704.6
MANIA TECHNOLOGI MNI S1 -35060806.41 107465704.6
MANIA TECHNOLOGI 2260970Z GR -35060806.41 107465704.6
MANIA TECHNOLOGI MNI TH -35060806.41 107465704.6
MANIA TECHNOLOGI MNI1 EO -35060806.41 107465704.6
MANIA TECHNOLOGI MNI PZ -35060806.41 107465704.6
MAPELEY STEPS CO 1914846Z LN -65795182.14 128959683.5
MARCONI PLC MNI LN -2203513803 7204891602
MARCONI PLC MRCQF US -2203513803 7204891602
MARCONI PLC MONI BB -2203513803 7204891602
MARCONI PLC MNI BB -2203513803 7204891602
MARCONI PLC MY2 GR -2203513803 7204891602
MARCONI PLC 203083Q VX -2203513803 7204891602
MARCONI PLC-ADR MONIY US -2203513803 7204891602
MARCONI PLC-ADR MONIE US -2203513803 7204891602
MARCONI PLC-ADR MCONY US -2203513803 7204891602
MARCONI PLC-ADR MRCQY US -2203513803 7204891602
MARCONI PLC-ADR MCBA GR -2203513803 7204891602
MARCONI PLC-ADR QUQMON AU -2203513803 7204891602
MARCONI PLC-ADR MY2A GR -2203513803 7204891602
MARCONI PLC-ADR MONI US -2203513803 7204891602
MARINE SUBSEA AS MSAS NO -280249984 357512992
MARINOTEIS-SOCIE 4753761Z PL -14953194.76 133756219.5
MARTINSA FADESA MTF EU -5570172023 2895244415
MARTINSA FADESA MTF SM -5570172023 2895244415
MARTINSA FADESA MTF1 LI -5570172023 2895244415
MARTINSA FADESA MTF EO -5570172023 2895244415
MARTINSA FADESA MFAD PZ -5570172023 2895244415
MARTINSA FADESA 4PU GR -5570172023 2895244415
MARTINSA-FADESA MTF NR -5570172023 2895244415
MATERNUS KLINI-N MAK1 GR -44477800.05 168038275.8
MATERNUS-KLINIKE MAKD S2 -44477800.05 168038275.8
MATERNUS-KLINIKE MAK EU -44477800.05 168038275.8
MATERNUS-KLINIKE MAK PZ -44477800.05 168038275.8
MATERNUS-KLINIKE MNUKF US -44477800.05 168038275.8
MATERNUS-KLINIKE MAK QT -44477800.05 168038275.8
MATERNUS-KLINIKE MAKD L3 -44477800.05 168038275.8
MATERNUS-KLINIKE MAK GR -44477800.05 168038275.8
MATERNUS-KLINIKE MAK TH -44477800.05 168038275.8
MATERNUS-KLINIKE MAKD B3 -44477800.05 168038275.8
MATERNUS-KLINIKE MAKG IX -44477800.05 168038275.8
MATERNUS-KLINIKE MAK S1 -44477800.05 168038275.8
MATERNUS-KLINIKE MAK EO -44477800.05 168038275.8
MATUSSIERE & FOR MTUSF US -77899559.39 293879179.1
MATUSSIERE & FOR 1007765Q FP -77899559.39 293879179.1
MAYBOURNE HOTELS 1824362Z LN -10154957.99 465282588.7
MCGRAW-HILL INTE 1275642Z LN -397583.9996 122720927.9
MCINERNEY -RT FP MCIF LN -137972148.5 304108432.2
MCINERNEY -RT FP MCIF ID -137972148.5 304108432.2
MCINERNEY -RT NP MCIN LN -137972148.5 304108432.2
MCINERNEY -RT NP MCIN ID -137972148.5 304108432.2
MCINERNEY HLDGS MCIGBX EU -137972148.5 304108432.2
MCINERNEY HLDGS MNEYF US -137972148.5 304108432.2
MCINERNEY HLDGS MCII IX -137972148.5 304108432.2
MCINERNEY HLDGS MCIGBX EO -137972148.5 304108432.2
MCINERNEY HLDGS MCI LN -137972148.5 304108432.2
MCINERNEY HLDGS MCI EO -137972148.5 304108432.2
MCINERNEY HLDGS MK9 PO -137972148.5 304108432.2
MCINERNEY HLDGS MCI EU -137972148.5 304108432.2
MCINERNEY HLDGS MK9 GR -137972148.5 304108432.2
MCINERNEY HLDGS MCI VX -137972148.5 304108432.2
MCINERNEY HLDGS MCI IX -137972148.5 304108432.2
MCINERNEY HLDGS MK9C PZ -137972148.5 304108432.2
MCINERNEY HLDGS MCI ID -137972148.5 304108432.2
MCINERNEY HLDGS MCI PO -137972148.5 304108432.2
MCINERNEY HLDGS MCIGBP EO -137972148.5 304108432.2
MCINERNEY PROP-A MYP ID -137972148.5 304108432.2
MCINERNEY PROP-A MCIYF US -137972148.5 304108432.2
MCINERNEY PROP-A MYP LN -137972148.5 304108432.2
MCINERNEY-ADR MNEYY US -137972148.5 304108432.2
MEADOWHALL FINAN 3560793Z LN -18209829.52 1185929065
MECHANGROEP BV 4501491Z NA -154404.9003 124805349
MECHEL MTLRG RU -221372976 11383539712
MECHEL MTLR RM -221372976 11383539712
MECHEL MTLR* RU -221372976 11383539712
MECHEL MTLR2 RM -221372976 11383539712
MECHEL MTLR0 RM -221372976 11383539712
MECHEL MTLR RU -221372976 11383539712
MECHEL OAO-ADR SAM LI -221372976 11383539712
MECHEL-ADR FQF GR -221372976 11383539712
MECHEL-PFD MTLRPG RU -221372976 11383539712
MECHEL-PFD MTLRP0 RM -221372976 11383539712
MECHEL-PFD MTLRP* RU -221372976 11383539712
MECHEL-PFD MTLRP RU -221372976 11383539712
MECHEL-PFD MTLRP2 RM -221372976 11383539712
MECHEL-PREF MTLRP RM -221372976 11383539712
MECHEL-PREF ADR MHSE GR -221372976 11383539712
MECHEL-PREF ADR MTL/P US -221372976 11383539712
MECHEL-SP GDR MTLR LI -221372976 11383539712
MECHEL-SPON ADR MHSA GR -221372976 11383539712
MECHEL-SPON ADR MTL US -221372976 11383539712
MECHEL-SPON ADR MTLUSD EU -221372976 11383539712
MECHEL-SPON ADR MTLUSD EO -221372976 11383539712
MECHEL-SPON ADR FQFG IX -221372976 11383539712
MEDIMMUNE LTD 1596402Z LN -1136873211 581445076.9
MERIDIANA SPA 1163Z IM -4509241.938 181803591.5
METALLURGIC-BRD METZ* RU -25115600.28 358960368.2
METALLURGIC-BRD METZ RU -25115600.28 358960368.2
METALLURGIC-PFD METZP* RU -25115600.28 358960368.2
METALLURGIC-PFD METZP RU -25115600.28 358960368.2
METRIS ENGINEERI 3737699Z BB -18042204.26 229878853.9
METRO DO PORTO S 4473963Z PL -1539365046 3027538897
METROPOLITANO DE 1009Z PL -626361531.4 6624482591
MICRO FOCUS INTL M7Q2 GR -2795000 571790976
MICRO FOCUS INTL MCROGBP EO -2795000 571790976
MICRO FOCUS INTL MCROL BQ -2795000 571790976
MICRO FOCUS INTL M7Q GK -2795000 571790976
MICRO FOCUS INTL MCRO9 EO -2795000 571790976
MICRO FOCUS INTL MCROEUR EU -2795000 571790976
MICRO FOCUS INTL MCRO QM -2795000 571790976
MICRO FOCUS INTL MCRO LN -2795000 571790976
MICRO FOCUS INTL MCRO5 EO -2795000 571790976
MICRO FOCUS INTL MCRO QX -2795000 571790976
MICRO FOCUS INTL MCROUSD EO -2795000 571790976
MICRO FOCUS INTL MCROUSD EU -2795000 571790976
MICRO FOCUS INTL MCROPEN EO -2795000 571790976
MICRO FOCUS INTL MCROEUR EO -2795000 571790976
MICRO FOCUS INTL MCRO7 EO -2795000 571790976
MICRO FOCUS INTL MCRO8 EO -2795000 571790976
MICRO FOCUS INTL MCROL L3 -2795000 571790976
MICRO FOCUS INTL MCRO EO -2795000 571790976
MICRO FOCUS INTL MCRO IX -2795000 571790976
MICRO FOCUS INTL MCROL S2 -2795000 571790976
MICRO FOCUS INTL MCRO1 EO -2795000 571790976
MICRO FOCUS INTL MCRO TQ -2795000 571790976
MICRO FOCUS INTL MCROPEN EU -2795000 571790976
MICRO FOCUS INTL M7Q1 GR -2795000 571790976
MICRO FOCUS INTL MCROL S1 -2795000 571790976
MICRO FOCUS INTL MCRO2 EO -2795000 571790976
MICRO FOCUS INTL MCRO6 EO -2795000 571790976
MICRO FOCUS INTL MCRO3 EO -2795000 571790976
MICRO FOCUS INTL MCFUF US -2795000 571790976
MICRO FOCUS INTL MCRO4 EO -2795000 571790976
MICRO FOCUS INTL MCRO NQ -2795000 571790976
MICRO FOCUS INTL MCRO VX -2795000 571790976
MICRO FOCUS INTL MCRO NR -2795000 571790976
MICRO FOCUS INTL MCRO BQ -2795000 571790976
MICRO FOCUS INTL MCRO S1 -2795000 571790976
MICRO FOCUS INTL MCRO EU -2795000 571790976
MICRO FOCUS INTL MCRO EB -2795000 571790976
MICRO FOCUS INTL M7Q3 GR -2795000 571790976
MICRO FOCUS INTL MCR2 EO -2795000 571790976
MICRO FOCUS INTL M7Q GR -2795000 571790976
MICRO FOCUS INTL MCROL B3 -2795000 571790976
MICRO FOCUS INTL MCFUD US -2795000 571790976
MICRO FOCUS INTL MCRO PO -2795000 571790976
MICRO FOCUS INTL MCRO PZ -2795000 571790976
MICRO FOCUS-ADR 1120744D GR -2795000 571790976
MICRO FOCUS-ADR MCFUY US -2795000 571790976
MIDLAND EXPRESSW 583730Z LN -286663046.8 1047022514
MILLENNIUM STADI 1727672Z LN -35927709.3 143590875.7
MILLIMAGES 8131905Q FP -1006036.19 113452793.4
MILLIMAGES MIL1 EO -1006036.19 113452793.4
MILLIMAGES MILI FP -1006036.19 113452793.4
MILLIMAGES MIL1 EU -1006036.19 113452793.4
MILLIMAGES MLIGF US -1006036.19 113452793.4
MILLIMAGES MILF PZ -1006036.19 113452793.4
MILLIMAGES MILT FP -1006036.19 113452793.4
MILLIMAGES MG6 GR -1006036.19 113452793.4
MILLIMAGES MIL1 PZ -1006036.19 113452793.4
MILLIMAGES MIL S1 -1006036.19 113452793.4
MILLIMAGES MLMG IX -1006036.19 113452793.4
MILLIMAGES - RTS 0134468D FP -1006036.19 113452793.4
MILLIMAGES -NREG MILNREUR EO -1006036.19 113452793.4
MILLIMAGES -NREG MILNREUR EU -1006036.19 113452793.4
MILLIMAGES -NREG MILNR FP -1006036.19 113452793.4
MILLIMAGES -REGR MIL TQ -1006036.19 113452793.4
MILLIMAGES -REGR MIL EB -1006036.19 113452793.4
MILLIMAGES -REGR MIL FP -1006036.19 113452793.4
MILLIMAGES -REGR MIL1EUR EO -1006036.19 113452793.4
MILLIMAGES -REGR MIL IX -1006036.19 113452793.4
MILLIMAGES -REGR MIL1EUR EU -1006036.19 113452793.4
MILLIMAGES NR - MILNRP B3 -1006036.19 113452793.4
MILLIMAGES NR - MILNRP L3 -1006036.19 113452793.4
MILLIMAGES NR - MILP S2 -1006036.19 113452793.4
MILLIMAGES NR - MILNRP S2 -1006036.19 113452793.4
MILLIMAGES NR - MILP B3 -1006036.19 113452793.4
MILLIMAGES NR - MILP L3 -1006036.19 113452793.4
MILLIMAGES-RTS MILDS FP -1006036.19 113452793.4
MILLIMAGES-RTS 760037Q FP -1006036.19 113452793.4
MILLIPORE UK LT 1924526Z LN -30970136.97 253254381.4
MOBILE TELESYSTE 4115696Z LX -348018999 808519791.7
MONARCH HOLDINGS 4502027Z LN -249731094.1 658980214.4
MONTE MARE GRADO 4359985Z IM -535795.2118 100538343.7
MOSPROMSTROY-BRD MPSM RU -50614422.93 250831050.5
MOSPROMSTROY-BRD MPSM* RU -50614422.93 250831050.5
MOSPROMSTROY-PFD MPSMP RU -50614422.93 250831050.5
MOSPROMSTROY-PFD MPSMP* RU -50614422.93 250831050.5
MOSTOBUD MTBD UZ -56429248.17 122386286.9
MOTO HOSPITALITY 1344378Z LN -139041358 1143143841
MOUCHEL GROUP PL MCHL NR -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL LN -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL IX -62838511.24 491368809.7
MOUCHEL GROUP PL MCHLEUR EO -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL EO -62838511.24 491368809.7
MOUCHEL GROUP PL MCHLEUR EU -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL BQ -62838511.24 491368809.7
MOUCHEL GROUP PL MCHLGBP EO -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL S1 -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL EB -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL QM -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL PZ -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL TQ -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL EU -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL NQ -62838511.24 491368809.7
MOUCHEL GROUP PL MO6 GR -62838511.24 491368809.7
MOUCHEL GROUP PL MOUCF US -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL VX -62838511.24 491368809.7
MOUCHEL PARKMAN MCHL PO -62838511.24 491368809.7
MSREF ELBA BV 4043045Z NA -87419.09909 568916342.9
MVCI HOLIDAYS FR 4524959Z FP -121090126.7 181621467.2
MYRMIDON CMBS PR 3819292Z ID -106451277.7 274185088.8
MYTRAVEL GROUP ARO2 GR -379731744 1817560463
MYTRAVEL GROUP MT/S LN -379731744 1817560463
MYTRAVEL GROUP 3544280Q IX -379731744 1817560463
MYTRAVEL GROUP MT/S PO -379731744 1817560463
MYTRAVEL GROUP MT/S VX -379731744 1817560463
MYTRAVEL GROUP MYTPF US -379731744 1817560463
MYTRAVEL GROUP P MT/ LN -379731744 1817560463
MYTRAVEL GROUP P 1018144Q GR -379731744 1817560463
MYTRAVEL GROUP P MT/ VX -379731744 1817560463
MYTRAVEL GROUP P MYTGF US -379731744 1817560463
MYTRAVEL GROUP-A 2281919Q GR -379731744 1817560463
MYTRAVEL GROUP-A MYTVF US -379731744 1817560463
MYTRAVEL TOUR OP 1190295Z LN -2772041051 706177528.1
NAFTOKHIMIK PRIC NAFP UZ -15122638.98 167861356.9
NAFTOKHIMIK-GDR N3ZA GR -15122638.98 167861356.9
NAOUSSA SPIN -RT NAOYD GA -163112562.6 286535432.7
NAOUSSA SPIN-AUC NAOYKE GA -163112562.6 286535432.7
NAOUSSA SPIN-RTS NAOYKR GA -163112562.6 286535432.7
NAOUSSA SPINNING NML GR -163112562.6 286535432.7
NATURGAS ENERGIA 4365797Z SM -14710105.75 418158346
NCC CONSTRUCTION 4389745Z NO -7109783.015 480936679.5
NCC ROADS AS 4401305Z NO -15956764.57 169875159.1
NDS GROUP HOLDIN 0112196D US -720982016 649305984
NDS GROUP HOLDIN NDSG US -720982016 649305984
NEORION HOLDINGS NEORS PZ -221551.2364 429186289.2
NEORION HOLDINGS NEORS EU -221551.2364 429186289.2
NEORION HOLDINGS NEORS GA -221551.2364 429186289.2
NEORION HOLDINGS NEORS EO -221551.2364 429186289.2
NEORION NEW SA NRNSF US -221551.2364 429186289.2
NEORION NEW-AUC NEORSE GA -221551.2364 429186289.2
NERVACERO SA 4469951Z SM -128546578.4 628042068.6
NESTLE UK LTD 1274562Z LN -365280299.7 4383623775
NEW LOOK GROUP 648227Q LN -651436258.7 2033386885
NEW LOOK GRP NWLOF US -651436258.7 2033386885
NEW LOOK GRP-ASD NEWA LN -651436258.7 2033386885
NEW LOOK RETAIL 2711544Z LN -585235291.1 2073906244
NEW STAR ASSET 3226447Q EO -397728016.9 292980082.9
NEW STAR ASSET NSAM IX -397728016.9 292980082.9
NEW STAR ASSET NSAM TQ -397728016.9 292980082.9
NEW STAR ASSET 3226443Q EO -397728016.9 292980082.9
NEW STAR ASSET 3226431Q EU -397728016.9 292980082.9
NEW STAR ASSET 3226439Q EU -397728016.9 292980082.9
NEW STAR ASSET N6S GR -397728016.9 292980082.9
NEW STAR ASSET NSAA LN -397728016.9 292980082.9
NEW STAR ASSET NSAM PO -397728016.9 292980082.9
NEW STAR ASSET NSAM PZ -397728016.9 292980082.9
NEW STAR ASSET NWSAF US -397728016.9 292980082.9
NEW STAR ASSET 3226435Q EO -397728016.9 292980082.9
NEW STAR ASSET M NSAM LN -397728016.9 292980082.9
NEW WORLD R-A SH NWR PW -193440286.1 705668382.6
NEW WORLD R-A SH NWRUKK S2 -193440286.1 705668382.6
NEW WORLD R-A SH NWRUK TQ -193440286.1 705668382.6
NEW WORLD R-A SH NWR PZ -193440286.1 705668382.6
NEW WORLD R-A SH NW5D L3 -193440286.1 705668382.6
NEW WORLD R-A SH NWRW B3 -193440286.1 705668382.6
NEW WORLD R-A SH NWR EO -193440286.1 705668382.6
NEW WORLD R-A SH NWR NR -193440286.1 705668382.6
NEW WORLD R-A SH NWR BQ -193440286.1 705668382.6
NEW WORLD R-A SH NW5D S2 -193440286.1 705668382.6
NEW WORLD R-A SH NWRW L3 -193440286.1 705668382.6
NEW WORLD R-A SH NWR QM -193440286.1 705668382.6
NEW WORLD R-A SH NWRUKK L3 -193440286.1 705668382.6
NEW WORLD R-A SH NWRL L3 -193440286.1 705668382.6
NEW WORLD R-A SH NWR S1 -193440286.1 705668382.6
NEW WORLD R-A SH NWR LN -193440286.1 705668382.6
NEW WORLD R-A SH NWR TQ -193440286.1 705668382.6
NEW WORLD R-A SH NWRW S2 -193440286.1 705668382.6
NEW WORLD R-A SH NWR EU -193440286.1 705668382.6
NEW WORLD R-A SH NWRL S2 -193440286.1 705668382.6
NEW WORLD R-A SH NWR CP -193440286.1 705668382.6
NEW WORLD R-A SH NW5D B3 -193440286.1 705668382.6
NEW WORLD R-A SH NWR IX -193440286.1 705668382.6
NEW WORLD R-A SH NW5 GR -193440286.1 705668382.6
NEW WORLD R-A SH NWRUKK B3 -193440286.1 705668382.6
NEW WORLD R-A SH NWR EB -193440286.1 705668382.6
NEW WORLD R-A SH NWRL B3 -193440286.1 705668382.6
NEW WORLD R-A SH NWR1 TQ -193440286.1 705668382.6
NEW WORLD R-B 0743168D LN -193440286.1 705668382.6
NEW WORLD R-RTS NWRP PW -193440286.1 705668382.6
NEW WORLD R-RTSF NWRFGBX EU -193440286.1 705668382.6
NEW WORLD R-RTSF NWRF LN -193440286.1 705668382.6
NEW WORLD R-RTSF NWRFGBX EO -193440286.1 705668382.6
NEW WORLD R-RTSN NWRNCZK EO -193440286.1 705668382.6
NEW WORLD R-RTSN NWRNGBX EU -193440286.1 705668382.6
NEW WORLD R-RTSN NWRN LN -193440286.1 705668382.6
NEW WORLD R-RTSN NWRNCZK EU -193440286.1 705668382.6
NEW WORLD R-RTSN NWRNGBX EO -193440286.1 705668382.6
NEW WORLD RESO-A A37 QM -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1PLN EU -250414347.9 647734819.8
NEW WORLD RESO-A A37 BQ -250414347.9 647734819.8
NEW WORLD RESO-A NWRSI IX -250414347.9 647734819.8
NEW WORLD RESO-A A37PLN EU -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1USD EU -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1 NR -250414347.9 647734819.8
NEW WORLD RESO-A A37CZK EO -250414347.9 647734819.8
NEW WORLD RESO-A A37GBP EO -250414347.9 647734819.8
NEW WORLD RESO-A A37GBX EO -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1GBP EO -250414347.9 647734819.8
NEW WORLD RESO-A NWN CP -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1CZK EU -250414347.9 647734819.8
NEW WORLD RESO-A NWRN PZ -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1USD EO -250414347.9 647734819.8
NEW WORLD RESO-A A37 EU -250414347.9 647734819.8
NEW WORLD RESO-A 0882467D TQ -250414347.9 647734819.8
NEW WORLD RESO-A A37USD EU -250414347.9 647734819.8
NEW WORLD RESO-A A37CZK EU -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1PLN EO -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1 QM -250414347.9 647734819.8
NEW WORLD RESO-A A37GBX EU -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1 TQ -250414347.9 647734819.8
NEW WORLD RESO-A A37 TQ -250414347.9 647734819.8
NEW WORLD RESO-A NWCSF US -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1 EO -250414347.9 647734819.8
NEW WORLD RESO-A A37USD EO -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1 EU -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1 BQ -250414347.9 647734819.8
NEW WORLD RESO-A A37 NR -250414347.9 647734819.8
NEW WORLD RESO-A 1062172D LN -250414347.9 647734819.8
NEW WORLD RESO-A 2777648Z LX -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1GBX EU -250414347.9 647734819.8
NEW WORLD RESO-A A37 EO -250414347.9 647734819.8
NEW WORLD RESO-A NWRS IX -250414347.9 647734819.8
NEW WORLD RESO-A 1083235D GR -250414347.9 647734819.8
NEW WORLD RESO-A A37 NQ -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1GBX EO -250414347.9 647734819.8
NEW WORLD RESO-A A37PLN EO -250414347.9 647734819.8
NEW WORLD RESO-A NWRN1CZK EO -250414347.9 647734819.8
NEW WORLD RESO-B 0746517D NA -250414347.9 647734819.8
NEW WORLD RESOUR 973960Z NA -250414347.9 647734819.8
NEW WORLD RESOUR NWN PW -250414347.9 647734819.8
NEW WORLD RESOUR 1064273D LN -193440286.1 705668382.6
NEW WORLD-RTS NWRSR CP -193440286.1 705668382.6
NEWCASTLE UNITED 4380361Z LN -33690958.84 234612813.1
NEWCASTLE UNITED 1060322Z LN -49091585.54 238073462.4
NEWEN ENTERPRISE NEP CN -347363008 314752992
NEXANS COPPER FR 4744809Z FP -22661844.26 308623822.2
NEXTIRAONE 500526Z FP -25568491.37 235050215
NIEUWE BORG REAL 3781672Z NA -1980.869704 208630571
NIZHMASHZAVO-BRD NMSZ RU -35825130.99 507871146
NIZHMASHZAVO-BRD NMSZ* RU -35825130.99 507871146
NIZHMASHZAVO-PFD NMSZP* RU -35825130.99 507871146
NIZHMASHZAVO-PFD NMSZP RU -35825130.99 507871146
NIZHMASHZAVOD-BD NMSZ$ RU -35825130.99 507871146
NORBAIN GROUP LT 4007676Z LN -18880913.74 122682534.9
NORDAG AG DOO1 GR -482467.0522 144438127.4
NORDAG AG-PFD DOO3 GR -482467.0522 144438127.4
NORDAG AG-RTS DOO8 GR -482467.0522 144438127.4
NORDENIA INTERNA NOD GR -74469671.73 729606340.7
NORDENIA INTL AG NOD8 GR -74469671.73 729606340.7
NORDICOM A/S NRDCC S2 -23092661.41 416012644
NORDICOM A/S NRDCC B3 -23092661.41 416012644
NORDICOM A/S NRDCC L3 -23092661.41 416012644
NORDICOM A/S-RTS NRDCT DC -23092661.41 416012644
NORDICOM AS NRDC BY -23092661.41 416012644
NORDICOM AS NRDC IX -23092661.41 416012644
NORDICOM AS NRDCEUR EO -23092661.41 416012644
NORDICOM AS NRDC EO -23092661.41 416012644
NORDICOM AS NRDC EU -23092661.41 416012644
NORDICOM AS NRDCC EB -23092661.41 416012644
NORDICOM AS CEPH DC -23092661.41 416012644
NORDICOM AS NRDC DC -23092661.41 416012644
NORDICOM AS NRDCEUR EU -23092661.41 416012644
NORDICOM AS NRDC TQ -23092661.41 416012644
NORDICOM AS NRDC PZ -23092661.41 416012644
NORDICOM AS-NEW NORN DC -23092661.41 416012644
NORDSEE AG 533061Q GR -8200576.76 194617530.6
NORDSEE GMBH 3988724Z GR -81591772.37 201788718.4
NORFOLK HOLDINGS 779151Z NA -192035.398 782945491.9
NORSK STEIN AS 4394889Z NO -1237127.989 254760725.7
NORTH AMERICAN NAUHF US -347363008 314752992
NORTHCLIFFE MEDI 1294954Z LN -231086140.5 141497063.7
NORTHERN FO-ASSD NFDA LN -70166768.88 924680805.3
NORTHERN FOO-NEW NFDN LN -70166768.88 924680805.3
NORTHERN FOO-RFD 650060Q LN -70166768.88 924680805.3
NORTHERN FOODS NFDS EO -70166768.88 924680805.3
NORTHERN FOODS NFDS EU -70166768.88 924680805.3
NORTHERN FOODS NFDS BQ -70166768.88 924680805.3
NORTHERN FOODS NFDS QM -70166768.88 924680805.3
NORTHERN FOODS NFO GK -70166768.88 924680805.3
NORTHERN FOODS NFDS IX -70166768.88 924680805.3
NORTHERN FOODS NFDS EB -70166768.88 924680805.3
NORTHERN FOODS NFDS NR -70166768.88 924680805.3
NORTHERN FOODS NFDS VX -70166768.88 924680805.3
NORTHERN FOODS NFDSUSD EO -70166768.88 924680805.3
NORTHERN FOODS NTFOF US -70166768.88 924680805.3
NORTHERN FOODS NFDSGBP EO -70166768.88 924680805.3
NORTHERN FOODS NFDS S1 -70166768.88 924680805.3
NORTHERN FOODS NFDS TQ -70166768.88 924680805.3
NORTHERN FOODS NFDS PO -70166768.88 924680805.3
NORTHERN FOODS NFDSEUR EO -70166768.88 924680805.3
NORTHERN FOODS 1168905D GR -70166768.88 924680805.3
NORTHERN FOODS NFDSEUR EU -70166768.88 924680805.3
NORTHERN FOODS NFDS PZ -70166768.88 924680805.3
NORTHERN FOODS NFDS NQ -70166768.88 924680805.3
NORTHERN FOODS NFDSUSD EU -70166768.88 924680805.3
NORTHERN FOODS L NFDS LN -70166768.88 924680805.3
NORTHERN FOODS P NFDR LN -70166768.88 924680805.3
NORTHLAND RE-RES 0192753D NO -347363008 314752992
NORTHLAND RE-RES NRIR NO -347363008 314752992
NORTHLAND RE-RES 1009610Q NO -347363008 314752992
NORTHLAND RESOUR NAUUSD EU -347363008 314752992
NORTHLAND RESOUR NPK GR -347363008 314752992
NORTHLAND RESOUR NAUNOK EO -347363008 314752992
NORTHLAND RESOUR NAUR SS -347363008 314752992
NORTHLAND RESOUR NAUEUR EU -347363008 314752992
NORTHLAND RESOUR NPK TH -347363008 314752992
NORTHLAND RESOUR NAUNOK EU -347363008 314752992
NORTHLAND RESOUR NPKD L3 -347363008 314752992
NORTHLAND RESOUR NAURO L3 -347363008 314752992
NORTHLAND RESOUR NPKD S2 -347363008 314752992
NORTHLAND RESOUR NAURO S2 -347363008 314752992
NORTHLAND RESOUR NPKD B3 -347363008 314752992
NORTHLAND RESOUR NAURO B3 -347363008 314752992
NORTHLAND RESOUR NAUR TQ -347363008 314752992
NORTHLAND RESOUR NAU EO -347363008 314752992
NORTHLAND RESOUR NAU EU -347363008 314752992
NORTHLAND RESOUR NBS GR -347363008 314752992
NORTHLAND RESOUR NAUEUR EO -347363008 314752992
NORTHLAND RESOUR NAUGBX EO -347363008 314752992
NORTHLAND RESOUR NAUUSD EO -347363008 314752992
NORTHLAND RESOUR NRSRF US -347363008 314752992
NORTHLAND RESOUR NAUR PZ -347363008 314752992
NORTHLAND RESOUR NAU CN -347363008 314752992
NORTHLAND RESOUR NAUR1 TH -347363008 314752992
NORTHLAND RESOUR NAUR NO -347363008 314752992
NORTHLAND RESOUR NAUR IX -347363008 314752992
NORTHLAND RESOUR NAUGBX EU -347363008 314752992
NORTHLAND RESOUR NAU BY -347363008 314752992
NORTHLAND-NEW NAURR NO -347363008 314752992
NORWEGIAN -A SRS NORENOK EO -107236815 485303327.5
NORWEGIAN -A SRS NORENOK EU -107236815 485303327.5
NORWEGIAN -A SRS NORE NO -107236815 485303327.5
NORWEGIAN ENERGY NOR IX -107236815 485303327.5
NORWEGIAN ENERGY NOR1GBP EO -107236815 485303327.5
NORWEGIAN ENERGY NRWEF US -107236815 485303327.5
NORWEGIAN ENERGY NOR1EUR EO -107236815 485303327.5
NORWEGIAN ENERGY NORO L3 -107236815 485303327.5
NORWEGIAN ENERGY NOR1 EO -107236815 485303327.5
NORWEGIAN ENERGY NORO S2 -107236815 485303327.5
NORWEGIAN ENERGY NORN PZ -107236815 485303327.5
NORWEGIAN ENERGY NORC NO -107236815 485303327.5
NORWEGIAN ENERGY NOR1USD EO -107236815 485303327.5
NORWEGIAN ENERGY CJ1 GR -107236815 485303327.5
NORWEGIAN ENERGY NOR1USD EU -107236815 485303327.5
NORWEGIAN ENERGY 1250511D NO -107236815 485303327.5
NORWEGIAN ENERGY NOR1EUR EU -107236815 485303327.5
NORWEGIAN ENERGY NORECO NO -107236815 485303327.5
NORWEGIAN ENERGY NOR TQ -107236815 485303327.5
NORWEGIAN ENERGY NORO B3 -107236815 485303327.5
NORWEGIAN ENERGY NOR SS -107236815 485303327.5
NORWEGIAN ENERGY NOR1 BY -107236815 485303327.5
NORWEGIAN ENERGY NOR NO -107236815 485303327.5
NORWEGIAN ENERGY NOR1 EU -107236815 485303327.5
NOVAR ED&S LTD 1286578Z LN -34675951.17 139038437.9
NOVELIS FOIL FRA 4678593Z FP -49448141.87 103051804.1
NOVOSIBIRSK-BRD NVMZ RU -34853954.29 109085860.9
NOVOSIBIRSK-BRD NVMZ$ RU -34853954.29 109085860.9
NOVOSIBIRSK-BRD NVMZ* RU -34853954.29 109085860.9
NPIL HOLDCO LTD 3641071Z LN -174439226.7 865153864.4
NPOWER GAS LTD 1689816Z LN -343438041.9 469041453.8
NRJ 12 4681713Z FP -7657615.259 104653825.6
NTT COM SECURITY AAGN S1 -30518620.96 237457667.5
NTT COM SECURITY AAGN EO -30518620.96 237457667.5
NTT COM SECURITY AAGN TQ -30518620.96 237457667.5
NTT COM SECURITY AAGN GR -30518620.96 237457667.5
NTT COM SECURITY AAGND L3 -30518620.96 237457667.5
NTT COM SECURITY AAGN QT -30518620.96 237457667.5
NTT COM SECURITY AAGND S1 -30518620.96 237457667.5
NTT COM SECURITY AAGND B3 -30518620.96 237457667.5
NTT COM SECURITY AAGN EU -30518620.96 237457667.5
NTT COM SECURITY AAGND S2 -30518620.96 237457667.5
NUERNB HYPO-RTS NUE8 GR -2104112446 5.86E+11
NUERNB HYPOTHEK 0478131D GR -2104112446 5.86E+11
NUTRIBIO SAS 4508451Z FP -1696894.018 126986380.2
NYESA VALORES CO BES SM -214694075 627801852.2
NYESA VALORES CO BES EU -214694075 627801852.2
NYESA VALORES CO NYE EU -214694075 627801852.2
NYESA VALORES CO NYE TQ -214694075 627801852.2
NYESA VALORES CO 7NY GR -214694075 627801852.2
NYESA VALORES CO NYE SM -214694075 627801852.2
NYESA VALORES CO NYE EO -214694075 627801852.2
NYESA VALORES CO BES EO -214694075 627801852.2
NYESA VALORES CO BES TQ -214694075 627801852.2
NYESA VALORES CO BESS PZ -214694075 627801852.2
O'KANE & DEVINE 3803556Z LN -4358107.011 464658271.9
O-I MANUFACTURIN 1320610Z LN -30670292.37 112801207.1
OAO MECHEL SGML* RU -221372976 11383539712
OAO MECHEL SGML RU -221372976 11383539712
OBTEC OBTEC DC -11519017.57 141247923.9
OBTEC OBT DC -11519017.57 141247923.9
OBTEC-NEW SHARES OBTECN DC -11519017.57 141247923.9
OBTEC-OLD OBTN DC -11519017.57 141247923.9
ODEON & UCI CINE 3489372Z LN -154729256.4 1093971473
ODESSA OIL REFIN ONPZ UZ -421646489.4 125957890.9
OESIA NETWORKS S 4369433Z SM -23680696.85 179103096.4
OKI EUROPE LTD 3912252Z LN -391269747.1 204284621.3
OLCESE SPA O IM -12846689.89 179691572.8
OLCESE SPA-RTS OAA IM -12846689.89 179691572.8
OLCESE VENEZIANO OLVE IM -12846689.89 179691572.8
OLTCHIM RM VALCE OLTCF US -750833972.5 397742354.3
OLTCHIM SA RM VA OLT RO -750833972.5 397742354.3
OLTCHIM SA RM VA OLTEUR EO -750833972.5 397742354.3
OLTCHIM SA RM VA OLT PZ -750833972.5 397742354.3
OLTCHIM SA RM VA OLT EU -750833972.5 397742354.3
OLTCHIM SA RM VA OLTF L3 -750833972.5 397742354.3
OLTCHIM SA RM VA OLTF B3 -750833972.5 397742354.3
OLTCHIM SA RM VA OLT EO -750833972.5 397742354.3
OLTCHIM SA RM VA OLTF S2 -750833972.5 397742354.3
OLTCHIM SA RM VA OLTEUR EU -750833972.5 397742354.3
OMRON EUROPE BV/ 4489339Z NA -360581.2603 627156346.6
ONNECT GROUP-RTS CNCNGBX EU -69818642.47 499012577.7
ONNECT GROUP-RTS CNCNGBX EO -69818642.47 499012577.7
ONNECT GROUP-RTS CNCN LN -69818642.47 499012577.7
OPTIMUM CARE LTD 3951796Z LN -33380376.38 106846682.7
ORACLE FRANCE SA 4525191Z FP -21054449.83 742726569.4
ORANGE LTD 951641Q LN -593935104.1 2902299502
ORANGE PLC ORNGF US -593935104.1 2902299502
ORANGE PLC 1460Q GR -593935104.1 2902299502
ORANGE PLC-ADR ORNGY US -593935104.1 2902299502
ORANGE PLC-ADR ORA$ LN -593935104.1 2902299502
ORANGE PLC-ADR 0212530D GR -593935104.1 2902299502
ORBIS PLC OBS PZ -4168493.8 127701679.5
ORBIS PLC RLP GR -4168493.8 127701679.5
ORBIS PLC ORBSF US -4168493.8 127701679.5
ORBIS PLC OBS LN -4168493.8 127701679.5
ORBIS PLC OBS IX -4168493.8 127701679.5
ORBIS PLC OBG PO -4168493.8 127701679.5
ORBIS PLC OBS PO -4168493.8 127701679.5
OROSDI OROSP S2 -51388258.12 181261665.1
OROSDI OROS FP -51388258.12 181261665.1
OROSDI OROS IX -51388258.12 181261665.1
OROSDI OROS EB -51388258.12 181261665.1
OROSDI OROS S1 -51388258.12 181261665.1
OROSDI OROS EU -51388258.12 181261665.1
OROSDI OROSP L3 -51388258.12 181261665.1
OROSDI OROS PZ -51388258.12 181261665.1
OROSDI OROSP B3 -51388258.12 181261665.1
OROSDI OROS EO -51388258.12 181261665.1
OROSDI-BACK ORBA FP -51388258.12 181261665.1
OROSDI-BACK BACK IX -51388258.12 181261665.1
OROSDI-RTS ORODS FP -51388258.12 181261665.1
OUTDOOR GROUP LT 1318338Z LN -31904183.63 118196315.8
OXEA SARL 3682535Z LX -24721940.15 956415604.2
OXEA SARL 3682535Z GR -24721940.15 956415604.2
PA RE-B SHS-NEW1 0697596D SS -103717946.2 456538442.2
PA RE-B SHS-NEW2 0697597D SS -103717946.2 456538442.2
PA RESOURC-B SHS 0674616D SS -103717946.2 456538442.2
PA RESOURCE-B SH 0702744D SS -103717946.2 456538442.2
PA RESOURCES PAR QM -103717946.2 456538442.2
PA RESOURCES PARGBX EO -103717946.2 456538442.2
PA RESOURCES PARNOK BY -103717946.2 456538442.2
PA RESOURCES PAR EB -103717946.2 456538442.2
PA RESOURCES PAREUR EO -103717946.2 456538442.2
PA RESOURCES PAR IX -103717946.2 456538442.2
PA RESOURCES PARGBX EU -103717946.2 456538442.2
PA RESOURCES PARNOK EB -103717946.2 456538442.2
PA RESOURCES PAR BQ -103717946.2 456538442.2
PA RESOURCES 0862433D PZ -103717946.2 456538442.2
PA RESOURCES PAR TQ -103717946.2 456538442.2
PA RESOURCES PAR1 S1 -103717946.2 456538442.2
PA RESOURCES PARNOK EU -103717946.2 456538442.2
PA RESOURCES PARNOK EO -103717946.2 456538442.2
PA RESOURCES PARS B3 -103717946.2 456538442.2
PA RESOURCES PAR EU -103717946.2 456538442.2
PA RESOURCES PAREUR EU -103717946.2 456538442.2
PA RESOURCES PARS S2 -103717946.2 456538442.2
PA RESOURCES PARS NQ -103717946.2 456538442.2
PA RESOURCES PAR NR -103717946.2 456538442.2
PA RESOURCES PRSAF US -103717946.2 456538442.2
PA RESOURCES P3RA GR -103717946.2 456538442.2
PA RESOURCES P3R GR -103717946.2 456538442.2
PA RESOURCES PARS IX -103717946.2 456538442.2
PA RESOURCES PAR BY -103717946.2 456538442.2
PA RESOURCES PAR EO -103717946.2 456538442.2
PA RESOURCES PAR SS -103717946.2 456538442.2
PA RESOURCES PARS L3 -103717946.2 456538442.2
PA RESOURCES PARNOK SS -103717946.2 456538442.2
PA RESOURCES PAR NO -103717946.2 456538442.2
PA RESOURCES A-A 1223616D SS -103717946.2 456538442.2
PA RESOURCES AB PARE SS -103717946.2 456538442.2
PA RESOURCES AB 3349079Q IX -103717946.2 456538442.2
PA RESOURCES-B PAREB SS -103717946.2 456538442.2
PA RESOURCES-BTA PARBTA SS -103717946.2 456538442.2
PA RESOURCES-NEW PARBTAA SS -103717946.2 456538442.2
PA RESOURCES-NEW PARSEKBT SS -103717946.2 456538442.2
PA RESOURCES-NEW PARBTAA BY -103717946.2 456538442.2
PA RESOURCES-NEW 3326863Z SS -103717946.2 456538442.2
PA RESOURCES-NEW 3133378Z SS -103717946.2 456538442.2
PA RESOURCES-RTS PARUR SS -103717946.2 456538442.2
PA RESOURCES-RTS PARUR NO -103717946.2 456538442.2
PA RESOURCES-RTS PARTRA SS -103717946.2 456538442.2
PA RESOURCES-RTS 0675179D SS -103717946.2 456538442.2
PA RESOURCES-RTS PARTRB SS -103717946.2 456538442.2
PA RESOURCES-RTS PARTRB BY -103717946.2 456538442.2
PA RESOURCES-RTS PRZSF US -103717946.2 456538442.2
PA RESOURCES-RTS PART1 BY -103717946.2 456538442.2
PA RESOURCES-RTS 3128903Z SS -103717946.2 456538442.2
PA RESOURCES-RTS PARTRA BY -103717946.2 456538442.2
PA RESOURCES-RTS PART NO -103717946.2 456538442.2
PA RESOURCES-RTS PARTR SS -103717946.2 456538442.2
PA RESOURCES-RTS PARSEKTR SS -103717946.2 456538442.2
PAGESJAUNES GRP PAJ FP -1736520389 862279100.1
PAGESJAUNES GRP PAJ NQ -1736520389 862279100.1
PAGESJAUNES GRP PAJP IX -1736520389 862279100.1
PAGESJAUNES GRP PAJ LI -1736520389 862279100.1
PAGESJAUNES GRP PGJUF US -1736520389 862279100.1
PAGESJAUNES GRP PAJ PZ -1736520389 862279100.1
PAGESJAUNES GRP PAJ VX -1736520389 862279100.1
PANAXIA AB PAXAEUR EO -13977243.64 102375892.6
PANAXIA AB PAXA BY -13977243.64 102375892.6
PANAXIA AB PAXA EU -13977243.64 102375892.6
PANAXIA AB PAXAEUR EU -13977243.64 102375892.6
PANAXIA AB PAXA PZ -13977243.64 102375892.6
PANAXIA AB PAXA EO -13977243.64 102375892.6
PANAXIA AB PAXA SS -13977243.64 102375892.6
PANAXIA AB-NEW PAXABT BY -13977243.64 102375892.6
PANAXIA AB-NEW PAXABT SS -13977243.64 102375892.6
PANAXIA AB-RTS PAXATR BY -13977243.64 102375892.6
PANAXIA AB-RTS PAXATR SS -13977243.64 102375892.6
PANAXIA-NEW 8292193Q SS -13977243.64 102375892.6
PANAXIA-RTS 8292189Q SS -13977243.64 102375892.6
PARAGON HOTELS L 4452665Z LN -7888444.897 116666914
PARAGON MORTGAGE 2002551Z LN -750891.1819 737656750.8
PARK FOOD GROUP PKFD LN -16392542.92 317271192
PARK GROUP PLC PKG LN -16392542.92 317271192
PARK GROUP PLC PKGL B3 -16392542.92 317271192
PARK GROUP PLC PKG PZ -16392542.92 317271192
PARK GROUP PLC PKG VX -16392542.92 317271192
PARK GROUP PLC PKG PO -16392542.92 317271192
PARK GROUP PLC PKG EU -16392542.92 317271192
PARK GROUP PLC PRKG IX -16392542.92 317271192
PARK GROUP PLC PRKGF US -16392542.92 317271192
PARK GROUP PLC PKGGBP EO -16392542.92 317271192
PARK GROUP PLC PKGL L3 -16392542.92 317271192
PARK GROUP PLC PKGL S2 -16392542.92 317271192
PARK GROUP PLC PKG EO -16392542.92 317271192
PARMALAT FINA-RT PRFR AV -18420075679 4120839723
PARMALAT FINANZI PARAF US -18420075679 4120839723
PARMALAT FINANZI FICN AV -18420075679 4120839723
PARMALAT FINANZI PRF IM -18420075679 4120839723
PARMALAT FINANZI PMT LI -18420075679 4120839723
PARMALAT FINANZI PMLFF US -18420075679 4120839723
PARMALAT FINANZI PAF GR -18420075679 4120839723
PARMALAT FINANZI 1085755D IM -18420075679 4120839723
PARMALAT FINANZI PRFI VX -18420075679 4120839723
PARQUES REUN-RTS PQR/D SM -36793493.63 2314365176
PARQUES REUNIDOS PQR GR -36793493.63 2314365176
PARQUES REUNIDOS PQR SM -36793493.63 2314365176
PATIENTLINE PLC 2928903Q EU -54678675.23 124951423.6
PATIENTLINE PLC PTL PZ -54678675.23 124951423.6
PATIENTLINE PLC PTL IX -54678675.23 124951423.6
PATIENTLINE PLC 2928907Q EO -54678675.23 124951423.6
PATIENTLINE PLC 2928899Q EO -54678675.23 124951423.6
PATIENTLINE PLC PTL PO -54678675.23 124951423.6
PATIENTLINE PLC PTL VX -54678675.23 124951423.6
PATIENTLINE PLC PTL LN -54678675.23 124951423.6
PAYZONE PLC PAYZ EO -138034037.7 510021617
PAYZONE PLC PAYZ PG -138034037.7 510021617
PAYZONE PLC PAYZ IX -138034037.7 510021617
PAYZONE PLC PAYZ EU -138034037.7 510021617
PAYZONE PLC 4P6 GR -138034037.7 510021617
PAYZONE PLC PAYZ LN -138034037.7 510021617
PAYZONE PLC PAYZ PZ -138034037.7 510021617
PBG PBGW B3 -227616629.7 658773629.9
PBG PBG PW -227616629.7 658773629.9
PBG PBGW L3 -227616629.7 658773629.9
PBG PBG1EUR EO -227616629.7 658773629.9
PBG PBG1 EU -227616629.7 658773629.9
PBG PBG PZ -227616629.7 658773629.9
PBG PBGW S2 -227616629.7 658773629.9
PBG PBG1EUR EU -227616629.7 658773629.9
PBG PBG LI -227616629.7 658773629.9
PBG PBG1 EO -227616629.7 658773629.9
PBG PBG1USD EO -227616629.7 658773629.9
PBG PBGZF US -227616629.7 658773629.9
PBG PBG1USD EU -227616629.7 658773629.9
PBG S.A. 887076Q PW -227616629.7 658773629.9
PBG SA PBGG IX -227616629.7 658773629.9
PBG SA - ADR PBGZY US -227616629.7 658773629.9
PBG SA - CERT A 899644Z PW -227616629.7 658773629.9
PBG SA -CERT A PBGA PW -227616629.7 658773629.9
PBG SA-A 0122073D PW -227616629.7 658773629.9
PBG SA-ALLOT CE 903059Q PW -227616629.7 658773629.9
PBG SA-ALLOT CER 685728Q PW -227616629.7 658773629.9
PBG SA-RTS PBGP PW -227616629.7 658773629.9
PD PORT SERVICES 1407442Z LN -97346785.71 148595363.3
PD PORTCO LTD 3233785Z LN -286512126 1076498649
PEGASUS PUB-RTS PEGASR GA -97784972.57 143402304.5
PEGASUS PUBLISHI PEGAS GA -97784972.57 143402304.5
PEGASUS PUBLISHI JE5 GR -97784972.57 143402304.5
PEGASUS PUBLISHI PEGA1 EU -97784972.57 143402304.5
PEGASUS PUBLISHI PEGASY L3 -97784972.57 143402304.5
PEGASUS PUBLISHI PEGA1 EO -97784972.57 143402304.5
PEGASUS PUBLISHI PGPBF US -97784972.57 143402304.5
PEGASUS PUBLISHI PEGASY S2 -97784972.57 143402304.5
PEGASUS PUBLISHI PEGASY B3 -97784972.57 143402304.5
PEGASUS PUBLISHI PEGAS PZ -97784972.57 143402304.5
PEGUFORM IBERICA 4512107Z SM -25951900.55 189870518.2
PENOPLEX-FINANS PNPF RU -776342.4125 143683074
PERSTORP HOLDING 3464123Z SS -134615381.3 1819743529
PESCANOVA PNV GR -1962474395 3604665666
PESCANOVA PVA TQ -1962474395 3604665666
PESCANOVA PVA S1 -1962474395 3604665666
PESCANOVA PVA EU -1962474395 3604665666
PESCANOVA PVA EO -1962474395 3604665666
PESCANOVA PVA EB -1962474395 3604665666
PESCANOVA PVA IX -1962474395 3604665666
PESCANOVA PVA SM -1962474395 3604665666
PESCANOVA PVA PZ -1962474395 3604665666
PESCANOVA PVA QM -1962474395 3604665666
PESCANOVA PVA NR -1962474395 3604665666
PESCANOVA PNVAF US -1962474395 3604665666
PESCANOVA SA PCV/P SM -1962474395 3604665666
PESCANOVA SA PVAE S2 -1962474395 3604665666
PESCANOVA SA PVAE B3 -1962474395 3604665666
PESCANOVA SA 0572074D SM -1962474395 3604665666
PESCANOVA SA PVAE L3 -1962474395 3604665666
PESCANOVA SA-RTS 3414736Q SM -1962474395 3604665666
PESCANOVA SA-RTS 0561516D SM -1962474395 3604665666
PESCANOVA SA-RTS PVA/D SM -1962474395 3604665666
PESCANOVA-OLD RT 1004Q SM -1962474395 3604665666
PETRO GEO-SERV 265143Q NO -18066142.02 399710319.4
PETRO GEO-SERV PGS VX -18066142.02 399710319.4
PETRO GEO-SERV PGS GR -18066142.02 399710319.4
PETRO GEO-SERV-N PGSN NO -18066142.02 399710319.4
PETRO GEO-SV-ADR PGSA GR -18066142.02 399710319.4
PETRO GEO-SV-ADR PGOGY US -18066142.02 399710319.4
PETROJACK AS JACK EU -54932000 191586000
PETROJACK AS JACK PZ -54932000 191586000
PETROJACK AS JACK BY -54932000 191586000
PETROJACK AS JACKEUR EU -54932000 191586000
PETROJACK AS P3J GR -54932000 191586000
PETROJACK AS JACKEUR EO -54932000 191586000
PETROJACK AS JACO IX -54932000 191586000
PETROJACK AS POJKF US -54932000 191586000
PETROJACK AS JACK NO -54932000 191586000
PETROJACK AS JACK EO -54932000 191586000
PETROMARINE SA 3652071Z FP -23734181.65 320658299.5
PETZET - PFD-RTS PETZPD GA -110809481.9 206423169.8
PETZETAKIS - RTS PETZKD GA -110809481.9 206423169.8
PETZETAKIS-AUC PETZKE GA -110809481.9 206423169.8
PETZETAKIS-PFD PETZP GA -110809481.9 206423169.8
PETZETAKIS-PFD PTZ3 GR -110809481.9 206423169.8
PEUGEOT CITROEN 3652807Z FP -4551892651 19003426706
PEUGEOT CITROEN 1974702Z LN -79437283.13 750487827.5
PEUGEOT CITROEN 3637183Z FP -387705605.4 308658679.1
PHILIPS GMBH 2645Z GR -967234526 2127723302
PHS GROUP HOLDIN 3173182Z LN -451952499.8 1982894328
PLACES FOR PEOPL 1914158Z LN -89782697.51 596233572.7
PLANES E INVERSI 3795524Z SM -167827051.7 107554336.1
PLANNED MAINTENA 1344714Z LN -171366986.8 101450183.9
PLANTASJEN NORGE 4398073Z NO -940365.3882 110815351.7
POST OFFICE LTD 1542650Z LN -196775599.5 1694809196
POSTNL NV PNL2GBP EO -713900022.5 2997170017
POSTNL NV PNLA B3 -713900022.5 2997170017
POSTNL NV TNTFFN L3 -713900022.5 2997170017
POSTNL NV PNL2USD EO -713900022.5 2997170017
POSTNL NV PNL1 S1 -713900022.5 2997170017
POSTNL NV PNL2CHF EO -713900022.5 2997170017
POSTNL NV PNLA S2 -713900022.5 2997170017
POSTNL NV PNL BQ -713900022.5 2997170017
POSTNL NV PNL QM -713900022.5 2997170017
POSTNL NV PNLA L3 -713900022.5 2997170017
POSTNL NV PNL2PLN EU -713900022.5 2997170017
POSTNL NV PNL MT -713900022.5 2997170017
POSTNL NV PNL QX -713900022.5 2997170017
POSTNL NV PNL2PLN EO -713900022.5 2997170017
POSTNL NV PNL2NOK EO -713900022.5 2997170017
POSTNL NV PNL GK -713900022.5 2997170017
POSTNL NV PNL2USD EU -713900022.5 2997170017
POSTNL NV PNL1 IX -713900022.5 2997170017
POSTNL NV PNL2CHF EU -713900022.5 2997170017
POSTNL NV TNTFF US -713900022.5 2997170017
POSTNL NV PNL TQ -713900022.5 2997170017
POSTNL NV PNL2 EO -713900022.5 2997170017
POSTNL NV TNTC TH -713900022.5 2997170017
POSTNL NV PNL2GBX EO -713900022.5 2997170017
POSTNL NV TNTC GR -713900022.5 2997170017
POSTNL NV PNL NA -713900022.5 2997170017
POSTNL NV TNT LI -713900022.5 2997170017
POSTNL NV TNTFFN B3 -713900022.5 2997170017
POSTNL NV PNL2NOK EU -713900022.5 2997170017
POSTNL NV PNL2GBX EU -713900022.5 2997170017
POSTNL NV TNTC QT -713900022.5 2997170017
POSTNL NV TNT PZ -713900022.5 2997170017
POSTNL NV PNL2AUD EU -713900022.5 2997170017
POSTNL NV PNL EB -713900022.5 2997170017
POSTNL NV PNL2 EU -713900022.5 2997170017
POSTNL NV PNL SW -713900022.5 2997170017
POSTNL NV PNL2AUD EO -713900022.5 2997170017
POSTNL NV-ADR PNLYY US -713900022.5 2997170017
POSTNL NV-ADR TNTTY US -713900022.5 2997170017
POWER LEISURE BO 1855610Z LN -68610434.68 204457598.3
POWERCORP INTERN 4449033Z LN -9367275.229 129789167.8
PPG METRO 500 LT 2224564Z LN -15545472.43 116336000.6
PRAMAC SPA PRA2 EU -87225984.26 314937083.3
PRAMAC SPA PRAM IX -87225984.26 314937083.3
PRAMAC SPA PRA IM -87225984.26 314937083.3
PRAMAC SPA PRA2 EO -87225984.26 314937083.3
PRAMAC SPA 6PA GR -87225984.26 314937083.3
PRAMAC SPA PRAM PZ -87225984.26 314937083.3
PREMIER PROPERTY 4006740Z LN -383762892.9 196967668.2
PRESTBURY HOTELS 397501Z LN -140719863.3 732561072.1
PRESTBURY WENTWO 3814856Z LN -113574624.2 682578779
PRIMETEL PLC PTLY B3 -2050531.93 101722361.3
PRIMETEL PLC PTL EU -2050531.93 101722361.3
PRIMETEL PLC PTLY S2 -2050531.93 101722361.3
PRIMETEL PLC PTL CY -2050531.93 101722361.3
PRIMETEL PLC PTL EO -2050531.93 101722361.3
PRIMETEL PLC PTLY L3 -2050531.93 101722361.3
PRISA PRS NR -780193119.9 6162139632
PRISA PRS2 VX -780193119.9 6162139632
PRISA 0557149D LN -780193119.9 6162139632
PRISA - A PRSUSD EO -780193119.9 6162139632
PRISA - A PRS2 IX -780193119.9 6162139632
PRISA - A PRS1 EB -780193119.9 6162139632
PRISA - A PRS1 S1 -780193119.9 6162139632
PRISA - A PRS SM -780193119.9 6162139632
PRISA - A PRSS PZ -780193119.9 6162139632
PRISA - A PZ4 GR -780193119.9 6162139632
PRISA - A PRSGBX EU -780193119.9 6162139632
PRISA - A PRSGBP EO -780193119.9 6162139632
PRISA - A GPOPF US -780193119.9 6162139632
PRISA - A PRSUSD EU -780193119.9 6162139632
PRISA - A PRS TQ -780193119.9 6162139632
PRISA - A PRSE L3 -780193119.9 6162139632
PRISA - A PRS EO -780193119.9 6162139632
PRISA - A PRSE S1 -780193119.9 6162139632
PRISA - A PRSE B3 -780193119.9 6162139632
PRISA - A PRSE S2 -780193119.9 6162139632
PRISA - A PRS EU -780193119.9 6162139632
PRISA - A PRSGBX EO -780193119.9 6162139632
PRISA - B PRS/P SM -780193119.9 6162139632
PRISA - B PRSP EB -780193119.9 6162139632
PRISA - B PRSP IX -780193119.9 6162139632
PRISA - B PRS/P EO -780193119.9 6162139632
PRISA - B PRS/P TQ -780193119.9 6162139632
PRISA A-ADR PRISY US -780193119.9 6162139632
PRISA A-ADR PRIS US -780193119.9 6162139632
PRISA B-ADR PRIS/B US -780193119.9 6162139632
PRISA B-RTS PRS/EEUR EU -780193119.9 6162139632
PRISA B-RTS PRS/EEUR EO -780193119.9 6162139632
PRISA B-RTS PRS/E SM -780193119.9 6162139632
PRISA-A RTS PRSD TQ -780193119.9 6162139632
PRISA-A RTS PRS/DEUR EU -780193119.9 6162139632
PRISA-A RTS PRS/DEUR EO -780193119.9 6162139632
PRISA-A RTS PRS/D SM -780193119.9 6162139632
PRISA-UNSP ADR GPOPY US -780193119.9 6162139632
PRITCHARD GROUP 3805716Z LN -40198600.41 187982923.5
PROCTER & GAMBLE 4525303Z FP -65885750.72 335937615.8
PRODRIVE HOLDING 3776836Z NA -286440.2865 111639311.2
PROMOTORA DE INF 0852003D SM -780193119.9 6162139632
PROMOTORA DE INF 1003328D SM -780193119.9 6162139632
PROMOTORA DE-ADR PRIS-W US -780193119.9 6162139632
PROMOTORA DE-ADR PRIS/B-W US -780193119.9 6162139632
PROMOTORA DE-ADR PTRSV US -780193119.9 6162139632
PROMOTORA DE-NEW 0096859D SM -780193119.9 6162139632
PROMTRACTOR-FINA PTRF RU -57517044.18 208661031
PROSTRAKAN GROUP PKNGF US -9666420.197 134082602.7
PROSTRAKAN GROUP PSK VX -9666420.197 134082602.7
PROSTRAKAN GROUP PSK PO -9666420.197 134082602.7
PROSTRAKAN GROUP PSK PZ -9666420.197 134082602.7
PROSTRAKAN GROUP PSK IX -9666420.197 134082602.7
PROSTRAKAN GROUP PSKEUR EU -9666420.197 134082602.7
PROSTRAKAN GROUP PSK EU -9666420.197 134082602.7
PROSTRAKAN GROUP PSKEUR EO -9666420.197 134082602.7
PROSTRAKAN GROUP PSK S1 -9666420.197 134082602.7
PROSTRAKAN GROUP PSK LN -9666420.197 134082602.7
PROSTRAKAN GROUP PSKGBP EO -9666420.197 134082602.7
PROSTRAKAN GROUP PSK EO -9666420.197 134082602.7
PULLMANTUR SA 301590Z SM -120068945.6 200674891.5
Q-PARK LTD 1471762Z LN -34604975.8 162938616.9
QMH LTD QMOT LN -39143219.67 831590393.1
QPR HOLDINGS LTD LFT LN -193935862.6 120047585.7
QUANTUM PHARMACE QPL B3 -6377862.543 123809536.5
QUANTUM PHARMACE QPL L3 -6377862.543 123809536.5
QUANTUM PHARMACE 0265252D LN -6377862.543 123809536.5
QUANTUM PHARMACE QP/GBX EO -6377862.543 123809536.5
QUANTUM PHARMACE QP/EUR EO -6377862.543 123809536.5
QUANTUM PHARMACE QP/EUR EU -6377862.543 123809536.5
QUANTUM PHARMACE QP/ LN -6377862.543 123809536.5
QUANTUM PHARMACE 0QT GR -6377862.543 123809536.5
QUANTUM PHARMACE QP/GBX EU -6377862.543 123809536.5
QUEENS MOAT HSES QMTHF US -39143219.67 831590393.1
QUINN BUILDING P 3949900Z LN -51051442.15 243405907.6
QUINN GROUP LTD 166771Z ID -228834929.2 2504377123
R&R ICE CREAM LT 3624280Z LN -251926110.3 1642215376
RADIO E TELEVISA 1227Z PL -109978276.6 477215725.6
RADIO KORASS-RTS KORAR GA -100972173.9 244951680.3
RADIO KORASSI-RT KORAD GA -100972173.9 244951680.3
RADIO KORASSIDIS RAKOF US -100972173.9 244951680.3
RADIO KORASSIDIS RKC GR -100972173.9 244951680.3
RADIO KORASSIDIS KORAEUR EU -100972173.9 244951680.3
RADIO KORASSIDIS KORA GA -100972173.9 244951680.3
RADIO KORASSIDIS KORAEUR EO -100972173.9 244951680.3
RAG ABWICKL-REG RSTHF US -1744186.284 217783877.8
RAG ABWICKL-REG ROS GR -1744186.284 217783877.8
RAG ABWICKL-REG ROSG PZ -1744186.284 217783877.8
RAG ABWICKL-REG ROS1 EU -1744186.284 217783877.8
RAG ABWICKL-REG ROS S1 -1744186.284 217783877.8
RAG ABWICKL-REG ROS1 EO -1744186.284 217783877.8
RAMBO A LTD 4501843Z LN -2076739509 891693401.1
RANDSTAD EMPLOYM 1585810Z LN -33905632.17 105871649.3
RBS MEZZANINE LT 2198564Z LN -111641535.2 344709233.7
RDB SPA RDBI IX -143727976.4 142633893.2
RDB SPA RDB IM -143727976.4 142633893.2
RDB SPA RDB TQ -143727976.4 142633893.2
RDB SPA AZN GR -143727976.4 142633893.2
RDB SPA RDB PZ -143727976.4 142633893.2
RDB SPA RDB BQ -143727976.4 142633893.2
RDB SPA RDB EO -143727976.4 142633893.2
RDB SPA RDB EU -143727976.4 142633893.2
REAL ESTATE OP-O REO EU -1109587250 1668412128
REAL ESTATE OP-O REOGBP EO -1109587250 1668412128
REAL ESTATE OP-O REO LN -1109587250 1668412128
REAL ESTATE OP-O REO EO -1109587250 1668412128
REAL ESTATE OP-O REO VX -1109587250 1668412128
REAL ESTATE OP-O REO ID -1109587250 1668412128
REAL ESTATE OP-O REO PZ -1109587250 1668412128
REAL ESTATE OP-O REO IX -1109587250 1668412128
REAL ESTATE OP-O REA GR -1109587250 1668412128
REAL ZARAGOZA SA 4285533Z SM -5133826.629 154809006.4
REDE FERROVIARIA 1250Z PL -2728365683 7426061504
REGARD HOLDINGS 4157517Z LN -9685751.94 141817579.3
REGUS LTD 273187Q LN -46111832.15 367181111
REGUS PLC 2296Z LN -46111832.15 367181111
REGUS PLC 273195Q VX -46111832.15 367181111
REGUS PLC REGSF US -46111832.15 367181111
REGUS PLC RGU GR -46111832.15 367181111
REGUS PLC-ADS REGSV US -46111832.15 367181111
REGUS PLC-ADS RGUA GR -46111832.15 367181111
REGUS PLC-ADS REGS US -46111832.15 367181111
REGUS PLC-ADS REGSY US -46111832.15 367181111
REPSOL POLIMEROS 3637351Z PL -295866414.2 385214857.4
RETAIL GROUP RTGR UZ -23003278.31 253608504.1
REXAM BEVERAGE C 1120903Z LN -22213349.38 126325689.5
REYAL URBIS SA REY EB -3738797123 1628405893
REYAL URBIS SA REYU PZ -3738797123 1628405893
REYAL URBIS SA REY S1 -3738797123 1628405893
REYAL URBIS SA REY1 EO -3738797123 1628405893
REYAL URBIS SA REY1 IX -3738797123 1628405893
REYAL URBIS SA REY1 EU -3738797123 1628405893
REYAL URBIS SA REY SM -3738797123 1628405893
REYAL URBIS SA REY1 TQ -3738797123 1628405893
RHODIA SA RHA FP -72549998.76 7951479864
RHODIA SA RHA TQ -72549998.76 7951479864
RHODIA SA RHA VX -72549998.76 7951479864
RHODIA SA RHD GR -72549998.76 7951479864
RHODIA SA RHANR PZ -72549998.76 7951479864
RHODIA SA RHA EB -72549998.76 7951479864
RHODIA SA 3218857Q IX -72549998.76 7951479864
RHODIA SA RHA EO -72549998.76 7951479864
RHODIA SA RHA QM -72549998.76 7951479864
RHODIA SA RHA S1 -72549998.76 7951479864
RHODIA SA RHAGBP EO -72549998.76 7951479864
RHODIA SA RHA PZ -72549998.76 7951479864
RHODIA SA RHA EU -72549998.76 7951479864
RHODIA SA RHA BQ -72549998.76 7951479864
RHODIA SA RHAY IX -72549998.76 7951479864
RHODIA SA RHADF US -72549998.76 7951479864
RHODIA SA RHDAF US -72549998.76 7951479864
RHODIA SA RHAGBX EO -72549998.76 7951479864
RHODIA SA RHA NQ -72549998.76 7951479864
RHODIA SA 2324011Q EU -72549998.76 7951479864
RHODIA SA RHAGBX EU -72549998.76 7951479864
RHODIA SA RHAUSD EO -72549998.76 7951479864
RHODIA SA 2324015Q EO -72549998.76 7951479864
RHODIA SA RHDI GR -72549998.76 7951479864
RHODIA SA RHAUSD EU -72549998.76 7951479864
RHODIA SA RHA GK -72549998.76 7951479864
RHODIA SA RHA IX -72549998.76 7951479864
RHODIA SA RHDI TH -72549998.76 7951479864
RHODIA SA - NEW 3506266Q FP -72549998.76 7951479864
RHODIA SA - NEW 8125782Q FP -72549998.76 7951479864
RHODIA SA - NEW 2335921Q FP -72549998.76 7951479864
RHODIA SA - NEW 3156011Q FP -72549998.76 7951479864
RHODIA SA - NEW RHANV FP -72549998.76 7951479864
RHODIA SA-ADR RHAYY US -72549998.76 7951479864
RHODIA SA-NON RE RHANR FP -72549998.76 7951479864
RHODIA SA-RIGHTS 653447Q FP -72549998.76 7951479864
RHODIA SA-RIGHTS RHADS FP -72549998.76 7951479864
RIOFISA RFS PZ -249543667.9 269548749.9
RIOFISA RFSMF US -249543667.9 269548749.9
RIOFISA 2306764Q EO -249543667.9 269548749.9
RIOFISA 2306760Q EU -249543667.9 269548749.9
RIOFISA SAU RFS SM -249543667.9 269548749.9
RITZ HOTEL LTD/T 1274338Z LN -28035315.97 274954318.9
RIVNEAZOT RAZT UZ -144037013.2 625895879.8
ROAD MGMT CONS 1239Z LN -24814.39972 315566259.7
ROBINS & DAY LTD 1280922Z LN -6856667.394 134759440.1
ROCAMAT ROCAP S2 -1664703.949 111569389.6
ROCAMAT ROCA TQ -1664703.949 111569389.6
ROCAMAT ROCA EO -1664703.949 111569389.6
ROCAMAT R4C GR -1664703.949 111569389.6
ROCAMAT ROCAP L3 -1664703.949 111569389.6
ROCAMAT ROCA FP -1664703.949 111569389.6
ROCAMAT ROCA PZ -1664703.949 111569389.6
ROCAMAT ROCA EU -1664703.949 111569389.6
ROCAMAT ROCA IX -1664703.949 111569389.6
ROCAMAT ROCA EB -1664703.949 111569389.6
ROCAMAT ROCA S1 -1664703.949 111569389.6
ROCAMAT ROCAP B3 -1664703.949 111569389.6
ROCAMAT - RTS ROCDS FP -1664703.949 111569389.6
ROCAMAT-NEW ROCN FP -1664703.949 111569389.6
RONNECT GROU-ADR SMWPY US -69818642.47 499012577.7
ROSENTHAL AG 2644179Q GR -1744186.284 217783877.8
ROSENTHAL AG-ACC ROS4 GR -1744186.284 217783877.8
ROSENTHAL AG-ADR RSTHY US -1744186.284 217783877.8
ROSENTHAL AG-REG ROSG IX -1744186.284 217783877.8
ROSYTH ROYAL DOC 2184524Z LN -85968869.67 166294557
ROTTERDAM LEISUR 3822680Z NA -121031.0998 120401466.1
RUSSIAN TEXT-CLS ALRT* RU -15214267.61 144581794
RUSSIAN TEXT-CLS ALRTG RU -15214267.61 144581794
S&T SYSTEM I-ADR STSQY US -38840367.34 182827447.9
S&T SYSTEM INTEG SNTA PZ -38840367.34 182827447.9
S&T SYSTEM INTEG SNTS ES -38840367.34 182827447.9
S&T SYSTEM INTEG SYAG IX -38840367.34 182827447.9
S&T SYSTEM INTEG SNT EU -38840367.34 182827447.9
S&T SYSTEM INTEG SYA EX -38840367.34 182827447.9
S&T SYSTEM INTEG STSQF US -38840367.34 182827447.9
S&T SYSTEM INTEG 0960262D GR -38840367.34 182827447.9
S&T SYSTEM INTEG SNT AV -38840367.34 182827447.9
S&T SYSTEM INTEG SLSYF US -38840367.34 182827447.9
S&T SYSTEM INTEG SNT EO -38840367.34 182827447.9
S&T SYSTEM INTEG SNTS IX -38840367.34 182827447.9
SA DE SUPERMERCA 4373489Z SM -24371663.66 162581700.7
SABENA SA SABA BB -85494497.66 2215341060
SAPPI EUROPE SA 3732894Z BB -122111348.6 156331971.4
SAVA SAVA EU -25683460.81 345447770.3
SAVA SAVA EO -25683460.81 345447770.3
SAVA SAVAT S2 -25683460.81 345447770.3
SAVA SAVA SV -25683460.81 345447770.3
SAVA SAVAT L3 -25683460.81 345447770.3
SAVA SAVAT B3 -25683460.81 345447770.3
SAVA SAVA PZ -25683460.81 345447770.3
SCANDINAVIAN BRA SBS1 BY -11519017.57 141247923.9
SCANDINAVIAN BRA SBSD PZ -11519017.57 141247923.9
SCANDINAVIAN BRA SBSC B3 -11519017.57 141247923.9
SCANDINAVIAN BRA SBS1 EO -11519017.57 141247923.9
SCANDINAVIAN BRA SBSC IX -11519017.57 141247923.9
SCANDINAVIAN BRA SBS1EUR EO -11519017.57 141247923.9
SCANDINAVIAN BRA SBS1EUR EU -11519017.57 141247923.9
SCANDINAVIAN BRA SBSC EB -11519017.57 141247923.9
SCANDINAVIAN BRA SBS1 EU -11519017.57 141247923.9
SCANDINAVIAN BRA SBS DC -11519017.57 141247923.9
SCANDINAVIAN BRA SBSC S2 -11519017.57 141247923.9
SCANDINAVIAN BRA SBS1 TQ -11519017.57 141247923.9
SCANDINAVIAN BRA SBSC L3 -11519017.57 141247923.9
SCHWEIZ NATB-REG SNBN SW -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBN EU -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBNZ S2 -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBN EB -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBN IX -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBNEUR EU -4267161939 5.52E+11
SCHWEIZ NATB-REG SWZNF US -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBNZ L3 -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBNZ B3 -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBN EO -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBNEUR EO -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBN TQ -4267161939 5.52E+11
SDR CENTREST 117241Q FP -132420129 252176016.3
SDR PICARDIE 44428Q FP -135351884.3 413398133.1
SEABIRD EXPLORAT SBDXF US -40921000 140986000
SEABIRD EXPLORAT E36 GR -40921000 140986000
SEABIRD EXPLORAT SBX EU -40921000 140986000
SEABIRD EXPLORAT SBX NO -40921000 140986000
SEABIRD EXPLORAT SBX TQ -40921000 140986000
SEABIRD EXPLORAT SBX SS -40921000 140986000
SEABIRD EXPLORAT SBXGBX EO -40921000 140986000
SEABIRD EXPLORAT SBX BY -40921000 140986000
SEABIRD EXPLORAT SBDOF US -40921000 140986000
SEABIRD EXPLORAT SBXGBX EU -40921000 140986000
SEABIRD EXPLORAT SBX PZ -40921000 140986000
SEABIRD EXPLORAT S1D GR -40921000 140986000
SEABIRD EXPLORAT SBX IX -40921000 140986000
SEABIRD EXPLORAT SBXEUR EU -40921000 140986000
SEABIRD EXPLORAT E36D L3 -40921000 140986000
SEABIRD EXPLORAT SBXO L3 -40921000 140986000
SEABIRD EXPLORAT E36D B3 -40921000 140986000
SEABIRD EXPLORAT SBXO S2 -40921000 140986000
SEABIRD EXPLORAT SBXO B3 -40921000 140986000
SEABIRD EXPLORAT SBXEUR EO -40921000 140986000
SEABIRD EXPLORAT E36D S2 -40921000 140986000
SEABIRD EXPLORAT SBX EO -40921000 140986000
SEABIRD-PREF SBXP NO -40921000 140986000
SEAFRANCE SA 1707464Z FP -1015369.615 247030885.4
SEAT PAGINE PG1 NQ -1813769456 913050185.5
SEAT PAGINE PG1USD EU -1813769456 913050185.5
SEAT PAGINE PGM S2 -1813769456 913050185.5
SEAT PAGINE PG1USD EO -1813769456 913050185.5
SEAT PAGINE PG1 QM -1813769456 913050185.5
SEAT PAGINE PG1GBP EO -1813769456 913050185.5
SEAT PAGINE SPGMF US -1813769456 913050185.5
SEAT PAGINE PGM S1 -1813769456 913050185.5
SEAT PAGINE PG1 TQ -1813769456 913050185.5
SEAT PAGINE PG BQ -1813769456 913050185.5
SEAT PAGINE SP7A GR -1813769456 913050185.5
SEAT PAGINE PGM B3 -1813769456 913050185.5
SEAT PAGINE PG VX -1813769456 913050185.5
SEAT PAGINE SP7B GR -1813769456 913050185.5
SEAT PAGINE PG1 EO -1813769456 913050185.5
SEAT PAGINE PG1 NR -1813769456 913050185.5
SEAT PAGINE PG1 EB -1813769456 913050185.5
SEAT PAGINE SP7 GR -1813769456 913050185.5
SEAT PAGINE PGM BQ -1813769456 913050185.5
SEAT PAGINE PG S1 -1813769456 913050185.5
SEAT PAGINE PGI1 IX -1813769456 913050185.5
SEAT PAGINE 283147Q IM -1813769456 913050185.5
SEAT PAGINE PGM TQ -1813769456 913050185.5
SEAT PAGINE PG1GBX EO -1813769456 913050185.5
SEAT PAGINE SEEA LN -1813769456 913050185.5
SEAT PAGINE PG1 EU -1813769456 913050185.5
SEAT PAGINE PG IM -1813769456 913050185.5
SEAT PAGINE PG PZ -1813769456 913050185.5
SEAT PAGINE PGM L3 -1813769456 913050185.5
SEAT PAGINE-ADR SPGMY US -1813769456 913050185.5
SEAT PAGINE-RSP SPGBF US -1813769456 913050185.5
SEAT PAGINE-RSP PGR EO -1813769456 913050185.5
SEAT PAGINE-RSP 0746311D PZ -1813769456 913050185.5
SEAT PAGINE-RSP PGR IM -1813769456 913050185.5
SEAT PAGINE-RSP PGRM S2 -1813769456 913050185.5
SEAT PAGINE-RSP PGRM L3 -1813769456 913050185.5
SEAT PAGINE-RSP PGR EU -1813769456 913050185.5
SEAT PAGINE-RSP PGRM B3 -1813769456 913050185.5
SEAT PAGINE-RSP PGR TQ -1813769456 913050185.5
SEAT PAGINE-RSP PGR IX -1813769456 913050185.5
SEAT PAGINE-RSP PGRM TQ -1813769456 913050185.5
SEAT-PAGINE GIAL SPG FP -26146890.82 390114892.6
SEAT-PAGINE GIAL PGAP GR -26146890.82 390114892.6
SEAT-PAGINE GIAL SPG IM -26146890.82 390114892.6
SEAT-PAGINE GIAL SGLSF US -26146890.82 390114892.6
SEAT-PAGINE-RNC SPGR IM -26146890.82 390114892.6
SEATPG AXA PGAXA IM -1813769456 913050185.5
SECURE INCOME RE 0991780D LN -182956902.1 2427346370
SECURE INCOME RE SIRL B3 -182956902.1 2427346370
SECURE INCOME RE SIRGBX EO -182956902.1 2427346370
SECURE INCOME RE SIR LN -182956902.1 2427346370
SECURE INCOME RE SIRGBX EU -182956902.1 2427346370
SECURE INCOME RE SIRL S2 -182956902.1 2427346370
SECURE INCOME RE SIRL L3 -182956902.1 2427346370
SEDA DE BARCEL SED EU -739717245.2 686984724.9
SEDA DE BARCEL SEDGBX EU -739717245.2 686984724.9
SEDA DE BARCEL SED S1 -739717245.2 686984724.9
SEDA DE BARCEL SED EB -739717245.2 686984724.9
SEDA DE BARCEL SED EO -739717245.2 686984724.9
SEDA DE BARCEL SED TQ -739717245.2 686984724.9
SEDA DE BARCEL SEDGBP EO -739717245.2 686984724.9
SEDA DE BARCEL SDY1 GR -739717245.2 686984724.9
SEDA DE BARCEL SEDGBX EO -739717245.2 686984724.9
SEDA DE BARCEL SED SM -739717245.2 686984724.9
SEDA DE BARCEL SED IX -739717245.2 686984724.9
SEDA DE BARCEL-A SDB SM -739717245.2 686984724.9
SEDA DE BARCEL-B SDY GR -739717245.2 686984724.9
SEDA DE BARCEL-B LSDBF US -739717245.2 686984724.9
SEDA DE BARCEL-B SED NR -739717245.2 686984724.9
SEDA DE BARCEL-B SEDS PZ -739717245.2 686984724.9
SEDA DE BARCEL-B 0882460D TQ -739717245.2 686984724.9
SEGECE SCS 4518143Z FP -14208162.69 209083011.9
SELONDA AQU-AUCT SELOE GA -62852188.8 246251293.9
SELONDA AQUACULT SELOY L3 -62852188.8 246251293.9
SELONDA AQUACULT SELO PZ -62852188.8 246251293.9
SELONDA AQUACULT SELOY S2 -62852188.8 246251293.9
SELONDA AQUACULT SELO EO -62852188.8 246251293.9
SELONDA AQUACULT SELO EU -62852188.8 246251293.9
SELONDA AQUACULT SELOY B3 -62852188.8 246251293.9
SELONDA AQUACULT SELO GA -62852188.8 246251293.9
SELONDA FISHERIE SELOR GA -62852188.8 246251293.9
SERCO GROUP SRP5 EO -103146219 3465058407
SERCO GROUP SRP S1 -103146219 3465058407
SERCO GROUP SEO GK -103146219 3465058407
SERCO GROUP SRPL L3 -103146219 3465058407
SERCO GROUP SRP BQ -103146219 3465058407
SERCO GROUP SRP PZ -103146219 3465058407
SERCO GROUP SRP1 EO -103146219 3465058407
SERCO GROUP SRP IX -103146219 3465058407
SERCO GROUP SEO GR -103146219 3465058407
SERCO GROUP SRP NQ -103146219 3465058407
SERCO GROUP SECCFN L3 -103146219 3465058407
SERCO GROUP SECCF US -103146219 3465058407
SERCO GROUP SRPPEN EU -103146219 3465058407
SERCO GROUP SRPPEN EO -103146219 3465058407
SERCO GROUP SECCFN B3 -103146219 3465058407
SERCO GROUP SRP6 EO -103146219 3465058407
SERCO GROUP SRPUSD EU -103146219 3465058407
SERCO GROUP SRP VX -103146219 3465058407
SERCO GROUP SEOG IX -103146219 3465058407
SERCO GROUP SRPEUR EU -103146219 3465058407
SERCO GROUP SRP NR -103146219 3465058407
SERCO GROUP SRP QX -103146219 3465058407
SERCO GROUP SRP PO -103146219 3465058407
SERCO GROUP SRPL S2 -103146219 3465058407
SERCO GROUP SRP4 EO -103146219 3465058407
SERCO GROUP SRP EB -103146219 3465058407
SERCO GROUP SRP3 EO -103146219 3465058407
SERCO GROUP SRP TQ -103146219 3465058407
SERCO GROUP SRP EU -103146219 3465058407
SERCO GROUP SRPUSD EO -103146219 3465058407
SERCO GROUP SRP2 EO -103146219 3465058407
SERCO GROUP SEO TH -103146219 3465058407
SERCO GROUP SRP10 EO -103146219 3465058407
SERCO GROUP SRP EO -103146219 3465058407
SERCO GROUP SRPCHF EU -103146219 3465058407
SERCO GROUP SRCPF US -103146219 3465058407
SERCO GROUP SRPL B3 -103146219 3465058407
SERCO GROUP SRPCHF EO -103146219 3465058407
SERCO GROUP SRP LN -103146219 3465058407
SERCO GROUP SRP QM -103146219 3465058407
SERCO GROUP SRPGBP EO -103146219 3465058407
SERCO GROUP SEO QT -103146219 3465058407
SERCO GROUP SRP SW -103146219 3465058407
SERCO GROUP SRP8 EO -103146219 3465058407
SERCO GROUP SRP7 EO -103146219 3465058407
SERCO GROUP SRP9 EO -103146219 3465058407
SERCO GROUP SRPEUR EO -103146219 3465058407
SERCO GROUP-ADR SECCY US -103146219 3465058407
SERCO GROUP-F RT SRPF LN -103146219 3465058407
SERCO GROUP-F RT SRPFGBX EO -103146219 3465058407
SERCO GROUP-F RT SRPFGBX EU -103146219 3465058407
SERCO GROUP-N RT SRPNL L3 -103146219 3465058407
SERCO GROUP-N RT SRPNL B3 -103146219 3465058407
SERCO GROUP-N RT SRPNL S2 -103146219 3465058407
SERCO GROUP-N RT SRPNGBX EO -103146219 3465058407
SERCO GROUP-N RT SRPN LN -103146219 3465058407
SERCO GROUP-N RT SEOA GR -103146219 3465058407
SERCO GROUP-N RT SRPNEUR EO -103146219 3465058407
SERCO GROUP-N RT SRPNEUR EU -103146219 3465058407
SERCO GROUP-N RT SRPNGBX EU -103146219 3465058407
SERVICO DE SAUDE 3790200Z PL -226815997.5 542214475.7
SETON HEALTHCARE 2290Z LN -10585505.26 156827663.2
SETUZA AS 2994767Q EO -61453559.45 138581811.9
SETUZA AS SZA GR -61453559.45 138581811.9
SETUZA AS 2994759Q EO -61453559.45 138581811.9
SETUZA AS SETUZA CP -61453559.45 138581811.9
SETUZA AS SETUZA PZ -61453559.45 138581811.9
SETUZA AS 2994763Q EU -61453559.45 138581811.9
SETUZA AS SZA EX -61453559.45 138581811.9
SETUZA AS 2994755Q EU -61453559.45 138581811.9
SETUZA AS SETU IX -61453559.45 138581811.9
SEVERNAYA KAZNA SVKB RU -65841683.17 279147737.1
SEVERNAYA KAZNA SVKB* RU -65841683.17 279147737.1
SEVKABEL-FINANS SVKF RU -83036.45789 102680368.9
SFAKIANAKIS SA SFA GA -53476191.92 410827753.5
SFAKIANAKIS SA SFAY B3 -53476191.92 410827753.5
SFAKIANAKIS SA SFA EO -53476191.92 410827753.5
SFAKIANAKIS SA SFA EU -53476191.92 410827753.5
SFAKIANAKIS SA SFAG PZ -53476191.92 410827753.5
SFAKIANAKIS SA SFAY S2 -53476191.92 410827753.5
SFAKIANAKIS SA SFAY L3 -53476191.92 410827753.5
SFAKIANAKIS-AUC SFAE GA -53476191.92 410827753.5
SFI GROUP PLC SUF LN -108070418.7 177652965.6
SFI GROUP PLC SUYFF US -108070418.7 177652965.6
SGAL-SOCIEDADE G 4473915Z PL -282250118.1 388608981.2
SHELL ESPANA SA 4514247Z SM -293761250.9 183588746.2
SHELMAN SELMK PZ -8106820.918 269503085.6
SHELMAN SELMK EO -8106820.918 269503085.6
SHELMAN SWH GR -8106820.918 269503085.6
SHELMAN SELMK EU -8106820.918 269503085.6
SHELMAN SELMK GA -8106820.918 269503085.6
SHELMAN 3001167Q GR -8106820.918 269503085.6
SHELMAN -RTS 4466796Q GA -8106820.918 269503085.6
SHELMAN HELLENIC SELMKY B3 -8106820.918 269503085.6
SHELMAN HELLENIC SELMKY S2 -8106820.918 269503085.6
SHELMAN HELLENIC SELMKY L3 -8106820.918 269503085.6
SHELMAN-PFD SWH3 GR -8106820.918 269503085.6
SHELMAN-PFD SELMP GA -8106820.918 269503085.6
SHELMAN-RTS SELMKR GA -8106820.918 269503085.6
SIDMA SA SIDMAY L3 -13944614.65 160288368.6
SIDMA SA SIDMA EO -13944614.65 160288368.6
SIDMA SA SIDMA GA -13944614.65 160288368.6
SIDMA SA SIDMA PZ -13944614.65 160288368.6
SIDMA SA SIDMAY B3 -13944614.65 160288368.6
SIDMA SA SIDMA EU -13944614.65 160288368.6
SIDMA SA SIDMAY S2 -13944614.65 160288368.6
SIEMENS TRANSMIS 4678865Z FP -30490786.14 344619846.7
SIFAS SIFAS TI -15438691.22 130603844.8
SIMED HEALTH CAR 3775544Z NA -34197.38617 130252722.2
SINNLEFFERS AG WHG GR -4491635.615 453887060.1
SIS INTL SK DC -31099624.83 338785645.1
SIS INTL SIS DC -31099624.83 338785645.1
SIS INTL-NEW SKN DC -31099624.83 338785645.1
SISAL GROUP SPA 0775998D IM -65279300.73 2012802495
SISTEMA HALS-GDR HALS IX -874213546.6 3351127450
SISTEMA-GDR 144A SEMAL US -874213546.6 3351127450
SITROL CONC-ADR SVX EX -119433664.7 940394639.1
SITROL CONC-ADR STRLY US -119433664.7 940394639.1
SKANDIA LIFE BUS 1451642Z LN -1717894.198 162775859.3
SKYEUROPE SKY PW -89483677.73 159082240
SKYEUROPE SKYP PW -89483677.73 159082240
SKYEUROPE HLDG SKY EU -89483677.73 159082240
SKYEUROPE HLDG SKYPLN EO -89483677.73 159082240
SKYEUROPE HLDG SKY AV -89483677.73 159082240
SKYEUROPE HLDG SKYPLN EU -89483677.73 159082240
SKYEUROPE HLDG SKY EO -89483677.73 159082240
SKYEUROPE HLDG 0619064D GR -89483677.73 159082240
SKYEUROPE HLDG SKURF US -89483677.73 159082240
SKYEUROPE HLDG SKYA PZ -89483677.73 159082240
SKYEUROPE HLDG SKYV IX -89483677.73 159082240
SKYEUROPE HLDG SKY LI -89483677.73 159082240
SKYEUROPE HOL-RT SK1 AV -89483677.73 159082240
SLOVENSKE ENERGE SES02 EU -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES01A PZ -55548542.3 145855993.5
SLOVENSKE ENERGE SES EU -55548542.3 145855993.5
SLOVENSKE ENERGE SES02 SK -55548542.3 145855993.5
SLOVENSKE ENERGE SES02 EO -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES2T B3 -55548542.3 145855993.5
SLOVENSKE ENERGE SES EO -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES1T S2 -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES1T B3 -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES2T L3 -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES1T L3 -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES2T S2 -55548542.3 145855993.5
SLOVENSKE ENERGE SES SK -55548542.3 145855993.5
SMITHS HEIMANN S 4513283Z FP -19134635.11 123528857.5
SMITHS NEWS PLC NWS12 EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS6 EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS LN -69818642.47 499012577.7
SMITHS NEWS PLC NWS IX -69818642.47 499012577.7
SMITHS NEWS PLC NWS9 EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS2EUR EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS2GBP EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS5 EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS1 EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS2EUR EU -69818642.47 499012577.7
SMITHS NEWS PLC SMWPF US -69818642.47 499012577.7
SMITHS NEWS PLC NWS1 EU -69818642.47 499012577.7
SMITHS NEWS PLC NWS PZ -69818642.47 499012577.7
SMITHS NEWS PLC NWS11 EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS1GBP EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS13 EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS VX -69818642.47 499012577.7
SMITHS NEWS PLC NWS8 EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS2 EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS4 EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS7 EO -69818642.47 499012577.7
SMITHS NEWS PLC NWS10 EO -69818642.47 499012577.7
SNCB HOLDING SNCBPD BB -893745521.6 37018974117
SNCB HOLDING SNCVP BB -893745521.6 37018974117
SNCB HOLDING SNCVPEUR EO -893745521.6 37018974117
SNCB HOLDING SNCVPEUR EU -893745521.6 37018974117
SNCB HOLDING-1 0742715D BB -893745521.6 37018974117
SNCB HOLDING-2 0742716D BB -893745521.6 37018974117
SNCB HOLDING-DVD 0742717D BB -893745521.6 37018974117
SNCB HOLDING-INF 1223604D BB -893745521.6 37018974117
SNCB HOLDING-ORD 0742718D BB -893745521.6 37018974117
SNCB-JOUISSANCE 146453Z BB -893745521.6 37018974117
SNCB-PRIV HOLLAN SNCBPB BB -893745521.6 37018974117
SNCB-PRIV SUISSE SNCBPA BB -893745521.6 37018974117
SNCF RESEAU 224063Z FP -1502193646 75168386409
SNIA BPD SN GR -141935918.3 150447396.9
SNIA BPD-ADR SBPDY US -141935918.3 150447396.9
SNIA SPA SIAI IX -141935918.3 150447396.9
SNIA SPA SNIB GR -141935918.3 150447396.9
SNIA SPA SN TQ -141935918.3 150447396.9
SNIA SPA SN IM -141935918.3 150447396.9
SNIA SPA SBPDF US -141935918.3 150447396.9
SNIA SPA SIAI PZ -141935918.3 150447396.9
SNIA SPA SN EO -141935918.3 150447396.9
SNIA SPA SNIXF US -141935918.3 150447396.9
SNIA SPA SNIA GR -141935918.3 150447396.9
SNIA SPA SSMLF US -141935918.3 150447396.9
SNIA SPA SN EU -141935918.3 150447396.9
SNIA SPA - RTS SNAAW IM -141935918.3 150447396.9
SNIA SPA- RTS SNAXW IM -141935918.3 150447396.9
SNIA SPA-2003 SH SN03 IM -141935918.3 150447396.9
SNIA SPA-CONV SA SPBDF US -141935918.3 150447396.9
SNIA SPA-DRC SNR00 IM -141935918.3 150447396.9
SNIA SPA-NEW SN00 IM -141935918.3 150447396.9
SNIA SPA-NON CON SPBNF US -141935918.3 150447396.9
SNIA SPA-RCV SNIVF US -141935918.3 150447396.9
SNIA SPA-RCV SNR IM -141935918.3 150447396.9
SNIA SPA-RIGHTS SNAW IM -141935918.3 150447396.9
SNIA SPA-RNC SNRNC IM -141935918.3 150447396.9
SNIA SPA-RNC SNIWF US -141935918.3 150447396.9
SNIA SPA-RTS SNSO IM -141935918.3 150447396.9
SNIA SPA-RTS SNAA IM -141935918.3 150447396.9
SNIACE SNC IX -56012111.77 119545583.8
SNIACE SNC1 TQ -56012111.77 119545583.8
SNIACE SNC1 EU -56012111.77 119545583.8
SNIACE SSD GR -56012111.77 119545583.8
SNIACE SNC1 EB -56012111.77 119545583.8
SNIACE SNC SM -56012111.77 119545583.8
SNIACE SNCEF US -56012111.77 119545583.8
SNIACE SNC1 S1 -56012111.77 119545583.8
SNIACE SNC1 EO -56012111.77 119545583.8
SNIACE SNC PZ -56012111.77 119545583.8
SNIACE-NEW SNC/N SM -56012111.77 119545583.8
SNIACE-RT SNC/D SM -56012111.77 119545583.8
SOC DES NOUVEAUX 4738657Z FP -8776125.203 115226381.8
SOCIEDADE DE CON 3903002Z PL -18190940.15 130209277.6
SOCIEDADE DE TRA 1253Z PL -583270000.3 125409558.7
SOCIETE COMMERCI 4516647Z FP -135557391.6 1345764531
SOCIETE COOPERAT 4634081Z FP -2483569.477 277148267.8
SOCIETE D'AGENCE 4741441Z FP -67358903.47 256750902.7
SOCIETE DE CHAUF 4722937Z FP -45398224.11 123033096.2
SOCIETE DES AUTO ARR1 VX -89943297.24 11659772905
SOCIETE DES AUTO ARR BQ -89943297.24 11659772905
SOCIETE DES AUTO ARR1 PZ -89943297.24 11659772905
SOCIETE DES AUTO RK9 GR -89943297.24 11659772905
SOCIETE DES AUTO ARRGBX EO -89943297.24 11659772905
SOCIETE DES AUTO SEAUF US -89943297.24 11659772905
SOCIETE DES AUTO ARRGBP EO -89943297.24 11659772905
SOCIETE DES CENT 4713729Z FP -2191007.373 109500824.8
SOCIETE DES EAUX 4721033Z FP -67025242.75 257538795.2
SOCIETE DES-ADR SEAUY US -89943297.24 11659772905
SOCIETE FINANCIE SFAL FP -304909149.1 6618643415
SODERAG SDRA FP -2861533.316 404179878.4
SODERAG-NEW SDRN FP -2861533.316 404179878.4
SOGAPAL-SOCIEDAD 4769185Z PL -17877575.67 137194157
SOGARA FRANCE 4674897Z FP -112661311.2 297852595.4
SOLOCAL GROU-RTS LOCDSEUR EU -1736520389 862279100.1
SOLOCAL GROU-RTS LOCDSEUR EO -1736520389 862279100.1
SOLOCAL GROU-RTS LOCDS FP -1736520389 862279100.1
SOLOCAL GROU-RTS LOCDS TQ -1736520389 862279100.1
SOLOCAL GROUP PAJCHF EO -1736520389 862279100.1
SOLOCAL GROUP PAJGBX EU -1736520389 862279100.1
SOLOCAL GROUP LOCAL EB -1736520389 862279100.1
SOLOCAL GROUP PAJ QM -1736520389 862279100.1
SOLOCAL GROUP PAJUSD EO -1736520389 862279100.1
SOLOCAL GROUP QS3 GR -1736520389 862279100.1
SOLOCAL GROUP PAJ S1 -1736520389 862279100.1
SOLOCAL GROUP LOCALP B3 -1736520389 862279100.1
SOLOCAL GROUP PAJ GK -1736520389 862279100.1
SOLOCAL GROUP PAJ EO -1736520389 862279100.1
SOLOCAL GROUP LOCAL QX -1736520389 862279100.1
SOLOCAL GROUP PAJGBP EO -1736520389 862279100.1
SOLOCAL GROUP LOCAL IX -1736520389 862279100.1
SOLOCAL GROUP PAJ BQ -1736520389 862279100.1
SOLOCAL GROUP PAJ TQ -1736520389 862279100.1
SOLOCAL GROUP PAJ1CHF EO -1736520389 862279100.1
SOLOCAL GROUP QS3 TH -1736520389 862279100.1
SOLOCAL GROUP LOCALP S2 -1736520389 862279100.1
SOLOCAL GROUP LOCALP L3 -1736520389 862279100.1
SOLOCAL GROUP LOCAL FP -1736520389 862279100.1
SOLOCAL GROUP PAJGBX EO -1736520389 862279100.1
SOLOCAL GROUP PAJ1CHF EU -1736520389 862279100.1
SOLOCAL GROUP PAJUSD EU -1736520389 862279100.1
SOLOCAL GROUP LOCAL EU -1736520389 862279100.1
SOLOCAL GROUP PAJ IX -1736520389 862279100.1
SOLOCAL GROUP PAJ EB -1736520389 862279100.1
SOLOCAL GROUP PAJ EU -1736520389 862279100.1
SOLOCAL GROUP LOCAL TQ -1736520389 862279100.1
SOLOCAL GROUP LOCAL SW -1736520389 862279100.1
SOLON AG FU-MEW 532564Q GR -138663225.9 627116116.4
SOLON AG FUE-NEW SOO3 GR -138663225.9 627116116.4
SOLON AG FUE-NEW SOO4 GR -138663225.9 627116116.4
SOLON AG FUE-NEW SOOJ GR -138663225.9 627116116.4
SOLON AG FUE-RTS 2292896Z GR -138663225.9 627116116.4
SOLON AG FUER SO SOOG IX -138663225.9 627116116.4
SOLON AG FUER SO SOO GR -138663225.9 627116116.4
SOLON SE SGFRF US -138663225.9 627116116.4
SOLON SE SOO1 EO -138663225.9 627116116.4
SOLON SE SOO1 TQ -138663225.9 627116116.4
SOLON SE SOO1 TH -138663225.9 627116116.4
SOLON SE SOO1 EU -138663225.9 627116116.4
SOLON SE SOO1 BQ -138663225.9 627116116.4
SOLON SE SOO1 GR -138663225.9 627116116.4
SOLON SE SOO1 S1 -138663225.9 627116116.4
SOLON SE SOO1 PZ -138663225.9 627116116.4
SOLON SE SNBZF US -138663225.9 627116116.4
SOLON SE SOO1USD EU -138663225.9 627116116.4
SOLON SE SOON EO -138663225.9 627116116.4
SOLON SE SOO1USD EO -138663225.9 627116116.4
SOLON SE SOON EU -138663225.9 627116116.4
SOLON SE SOON GR -138663225.9 627116116.4
SOLON SE-RTS 3664247Z GR -138663225.9 627116116.4
SOLVAY PORTUGAL- 4775353Z PL -26828982.51 133606876.8
SOMERSTON HOTELS 1167535Z LN -189322116.8 379519378.5
SOMERSTON HOTELS 1231735Z LN -41262222.44 103352288.9
SONET INVESTMENT 1692672Z LN -5145399.595 362238782.1
SONY COMPUTER EN 3893902Z LN -484038262.1 1249348085
SONY EUROPE LTD 1591658Z LN -2116271762 1654745164
SOPAF SPA SPF TQ -24220244 153759286.6
SOPAF SPA SPF EB -24220244 153759286.6
SOPAF SPA SPF IM -24220244 153759286.6
SOPAF SPA SPFI IX -24220244 153759286.6
SOPAF SPA SPF BQ -24220244 153759286.6
SOPAF SPA SPF EU -24220244 153759286.6
SOPAF SPA SPF PZ -24220244 153759286.6
SOPAF SPA SPF QM -24220244 153759286.6
SOPAF SPA SSZ HK -24220244 153759286.6
SOPAF SPA SOPAF US -24220244 153759286.6
SOPAF SPA SPF EO -24220244 153759286.6
SOPAF SPA SOCAF US -24220244 153759286.6
SOPAF SPA-NEW 97 SPF97 IM -24220244 153759286.6
SOPAF SPA-RNC SPFN IM -24220244 153759286.6
SOPAF SPA-RNC SOPCF US -24220244 153759286.6
SOPAF SPA-RT SPFOB IM -24220244 153759286.6
SOUTHERN CROSS SCHEEUR EO -456945463.9 226544692
SOUTHERN CROSS SCH5 EO -456945463.9 226544692
SOUTHERN CROSS SCHEUSD EU -456945463.9 226544692
SOUTHERN CROSS F2Z GR -456945463.9 226544692
SOUTHERN CROSS SOCHF US -456945463.9 226544692
SOUTHERN CROSS SCHE LN -456945463.9 226544692
SOUTHERN CROSS SCHE TQ -456945463.9 226544692
SOUTHERN CROSS SCHE EO -456945463.9 226544692
SOUTHERN CROSS SCHE VX -456945463.9 226544692
SOUTHERN CROSS SCH4 EO -456945463.9 226544692
SOUTHERN CROSS F2Z TH -456945463.9 226544692
SOUTHERN CROSS SCHE QM -456945463.9 226544692
SOUTHERN CROSS SCHEEUR EU -456945463.9 226544692
SOUTHERN CROSS SCHE4 EO -456945463.9 226544692
SOUTHERN CROSS SCHE BQ -456945463.9 226544692
SOUTHERN CROSS SCHE3 EO -456945463.9 226544692
SOUTHERN CROSS SCHE5 EO -456945463.9 226544692
SOUTHERN CROSS SCHE2 EO -456945463.9 226544692
SOUTHERN CROSS SCHE PZ -456945463.9 226544692
SOUTHERN CROSS SCHE EB -456945463.9 226544692
SOUTHERN CROSS SCHE NQ -456945463.9 226544692
SOUTHERN CROSS SCHE NR -456945463.9 226544692
SOUTHERN CROSS SCHE7 EO -456945463.9 226544692
SOUTHERN CROSS SCHE6 EO -456945463.9 226544692
SOUTHERN CROSS SCHE EU -456945463.9 226544692
SOUTHERN CROSS SCHE S1 -456945463.9 226544692
SOUTHERN CROSS SCHE8 EO -456945463.9 226544692
SOUTHERN CROSS SCH3 EO -456945463.9 226544692
SOUTHERN CROSS SCHEGBP EO -456945463.9 226544692
SOUTHERN CROSS SCHE IX -456945463.9 226544692
SOUTHERN CROSS SCHEUSD EO -456945463.9 226544692
SOUTHERN CROSS SCHE PO -456945463.9 226544692
SOUTHERN ELE-ADR SOELY US -315604519.9 1586196236
SOUTHERN ELEC 619136Q LN -315604519.9 1586196236
SOUTHERN ELEC-B SELB LN -315604519.9 1586196236
SPANAIR 1174Z SM -224908325.6 350100970.3
SPAR HAND-PFD NV SPA3 GR -442426239.7 1433020961
SPAR HANDELS-AG 773844Q GR -442426239.7 1433020961
SPAR HANDELS-AG SPHFF US -442426239.7 1433020961
SPENCER DOCK DEV 3813908Z ID -87906519 773958702
SPIE BATIGNOLLES 1083363D FP -15843540.88 5280931385
SPIRE HEALTHCARE 1444034Z LN -423214914.8 2678924382
SPRINGER SCIENCE 648808Z GR -664638301.8 3767996594
SQUARE ENIX LTD 1826770Z LN -332218913.1 298496661.4
ST FIACRE (FIN) 132143Q FP -1274873.644 111191494.1
ST GOBAIN SEKURI 3737571Z BB -71323279.72 142248917.8
STAGECOACH SERVI 1584258Z LN -13660380.53 207868606.7
STALNAYA GRUPPA SGML$ RU -221372976 11383539712
STAPLES UK RETAI 1592994Z LN -80237154.66 170116799
START FUNDING NO 3816392Z ID -49647004.37 505142087.3
STE FRANCAISE D' 4639273Z FP -12030114.22 468842299.4
STEMCOR HOLDINGS 532183Z LN -120313888.1 2404159063
STEMCOR UK LTD 1071106Z LN -139791008 244452000
STIROL CONC -ADR SVXF IX -119433664.7 940394639.1
STIROL CONC -ADR SVX GR -119433664.7 940394639.1
STIROL CONC -ADR STIR009 RU -119433664.7 940394639.1
STIROL CONC -ADR SRLLY US -119433664.7 940394639.1
STIROL CONCERN STRLF US -119433664.7 940394639.1
STIROL CONCERN SRLLF US -119433664.7 940394639.1
STIROL CONCERN STIR UZ -119433664.7 940394639.1
STJAMES'S PLACE 4451825Z LN -69492713.34 762546232.1
STOREBRAND EIEND 4288341Z NO -1122201535 3712340671
SUN CHEMICAL LTD 2569274Z LN -13584119.99 227447866.6
SUN VALLEY FOODS 2346003Z LN -10931349.79 194740084.6
SUNDERLAND ASSOC 1274418Z LN -55274632.43 153207257.5
SUSQUEHANNA EURO 4459081Z ID -1526322048 6118562816
SUZLON WIND ENER 3985532Z DC -50030921.82 151671945.3
SUZLON WIND ENER 3809140Z SM -4604655.096 154658232.2
SWISS NATIONBANK SN SW -4267161939 5.52E+11
T BANK TBANK EU -46224213.41 3486115450
T BANK TBANK GA -46224213.41 3486115450
T BANK ASPT GA -46224213.41 3486115450
T BANK ASPT EU -46224213.41 3486115450
T BANK TBANK EO -46224213.41 3486115450
T BANK ASPT PZ -46224213.41 3486115450
T BANK ASPT EO -46224213.41 3486115450
TA TRIUMPH-A-RTS 1018916Z GR -124531131.9 313411495.3
TA TRIUMPH-ACQ TWNA GR -124531131.9 313411495.3
TA TRIUMPH-ACQ TWNA EU -124531131.9 313411495.3
TA TRIUMPH-ADLER 0292922D GR -124531131.9 313411495.3
TA TRIUMPH-ADLER TWNG IX -124531131.9 313411495.3
TA TRIUMPH-ADLER TWN EU -124531131.9 313411495.3
TA TRIUMPH-ADLER TWN EO -124531131.9 313411495.3
TA TRIUMPH-ADLER TTZAF US -124531131.9 313411495.3
TA TRIUMPH-ADLER TWN PZ -124531131.9 313411495.3
TA TRIUMPH-NEW TWN1 GR -124531131.9 313411495.3
TA TRIUMPH-RT TWN8 GR -124531131.9 313411495.3
TA TRIUMPH-RTS 3158577Q GR -124531131.9 313411495.3
TABASA INFRAESTR 3747640Z SM -174949990 118045845.5
TABLEROS DE FI-N TFI/N SM -86643526.68 212704268.2
TABLEROS DE FI-R TFI/D SM -86643526.68 212704268.2
TABLEROS DE FIBR TRFSF US -86643526.68 212704268.2
TAFISA TFIEUR EU -86643526.68 212704268.2
TAFISA TFIEUR EO -86643526.68 212704268.2
TAFISA TFI SM -86643526.68 212704268.2
TAKEDA PHARMA IR 4460049Z ID -553964898.1 178556098.5
TAKKER EUROPA AP 3972332Z DC -83653640.05 206327420.9
TALISMAN ENERGY 3641763Z NO -331083562.7 2451136755
TALVIVAARA MI-DI TALVUSD EU -396381388.6 859487684.4
TALVIVAARA MI-DI TALV QM -396381388.6 859487684.4
TALVIVAARA MI-DI TM7 GR -396381388.6 859487684.4
TALVIVAARA MI-DI TALV NR -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1V TQ -396381388.6 859487684.4
TALVIVAARA MI-DI TALV IX -396381388.6 859487684.4
TALVIVAARA MI-DI TM7 GK -396381388.6 859487684.4
TALVIVAARA MI-DI TALV EU -396381388.6 859487684.4
TALVIVAARA MI-DI TALVUSD EO -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1V BQ -396381388.6 859487684.4
TALVIVAARA MI-DI TALV PZ -396381388.6 859487684.4
TALVIVAARA MI-DI TALV LN -396381388.6 859487684.4
TALVIVAARA MI-DI TALVL S2 -396381388.6 859487684.4
TALVIVAARA MI-DI TALVEUR EU -396381388.6 859487684.4
TALVIVAARA MI-DI TALVGBP EO -396381388.6 859487684.4
TALVIVAARA MI-DI TALV S1 -396381388.6 859487684.4
TALVIVAARA MI-DI TALV BQ -396381388.6 859487684.4
TALVIVAARA MI-DI TALV TQ -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1V FH -396381388.6 859487684.4
TALVIVAARA MI-DI TALVEUR EO -396381388.6 859487684.4
TALVIVAARA MI-DI TM7 TH -396381388.6 859487684.4
TALVIVAARA MI-DI TALV EB -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1V BY -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1VH S2 -396381388.6 859487684.4
TALVIVAARA MI-DI TALVL B3 -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1V IX -396381388.6 859487684.4
TALVIVAARA MI-DI TALVEUR QM -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1V EB -396381388.6 859487684.4
TALVIVAARA MI-DI TALVL L3 -396381388.6 859487684.4
TALVIVAARA MI-DI TALV EO -396381388.6 859487684.4
TALVIVAARA MI-RT 0745741D LN -396381388.6 859487684.4
TALVIVAARA MI-RT TALS EO -396381388.6 859487684.4
TALVIVAARA MI-RT TLV1VU13 FH -396381388.6 859487684.4
TALVIVAARA MI-RT TALS LN -396381388.6 859487684.4
TALVIVAARA MININ TALI LN -396381388.6 859487684.4
TALVIVAARA MININ TLV1VN13 FH -396381388.6 859487684.4
TALVIVAARA MININ TLV1VEUR NQ -396381388.6 859487684.4
TALVIVAARA MININ 0745755D LN -396381388.6 859487684.4
TALVIVAARA MININ TLV1V NQ -396381388.6 859487684.4
TALVIVAARA MININ TALV NQ -396381388.6 859487684.4
TALVIVAARA MININ 0746817D FH -396381388.6 859487684.4
TAP SGPS TAP PL -514759935.9 2337485245
TATA CHEMICALS 1626874Z LN -6488265.073 183288170.1
TATA CMMNCTNS UK 2534722Z LN -79448664 149100896
TATA STEEL EUROP 4287165Z LN -470404199.8 11926915209
TAVEX - RTS ASA/D SM -10622070.67 655950832
TAVEX ALGODO-RTS 613781Q SM -10622070.67 655950832
TAVEX ALGODO-RTS 2773473Q SM -10622070.67 655950832
TAVEX ALGODON-NE ASA/N SM -10622070.67 655950832
TAVEX ALGODONERA ASA PZ -10622070.67 655950832
TAVEX ALGODONERA ASA SM -10622070.67 655950832
TAVEX ALGODONERA ASA EU -10622070.67 655950832
TAVEX ALGODONERA ASA EO -10622070.67 655950832
TEAM PARTNER-RTS 633323Q FP -13557467.93 129831049
TEAM PARTNER-RTS 2841653Q FP -13557467.93 129831049
TEAM PARTNERS TPTRF US -13557467.93 129831049
TEAM PARTNERS TIP FP -13557467.93 129831049
TEAM PARTNERS TPGY IX -13557467.93 129831049
TEAM PARTNERS 2347985Q EO -13557467.93 129831049
TEAM PARTNERS TIP PZ -13557467.93 129831049
TEAM PARTNERS 2347981Q EU -13557467.93 129831049
TEAM PARTNERS GR TIPDS FP -13557467.93 129831049
TEAM PARTNERS GR TPGP PZ -13557467.93 129831049
TEAM PARTNERS GR TIPA EO -13557467.93 129831049
TEAM PARTNERS GR TIPA EU -13557467.93 129831049
TEAM PARTNERS GR TPGP IX -13557467.93 129831049
TEAM PARTNERS GR TIPNV FP -13557467.93 129831049
TEAM PARTNERS GR TIPA FP -13557467.93 129831049
TEAM PARTNERS-N TIPN FP -13557467.93 129831049
TECNODIFF ITALIA TDI IM -89894162.82 152045757.5
TECNODIFF ITALIA TDI NM -89894162.82 152045757.5
TECNODIFF ITALIA TDIFF US -89894162.82 152045757.5
TECNODIFF ITALIA 0965585D GR -89894162.82 152045757.5
TECNODIFF-RTS TDIAOW NM -89894162.82 152045757.5
TECNODIFFUSIONE TDIAAW IM -89894162.82 152045757.5
TEEUWISSEN HOLDI 3804012Z NA -459173.717 366182065.4
TEL IT MEDIA-RTS TMERAA IM -26146890.82 390114892.6
TELE COLUMBUS AG TC1 TH -84850614.65 960322563.6
TELE COLUMBUS AG TC1 LI -84850614.65 960322563.6
TELE COLUMBUS AG TC1 QT -84850614.65 960322563.6
TELE COLUMBUS AG TC1EUR EO -84850614.65 960322563.6
TELE COLUMBUS AG TC1EUR EU -84850614.65 960322563.6
TELE COLUMBUS AG TC1D S1 -84850614.65 960322563.6
TELE COLUMBUS AG TC1D IX -84850614.65 960322563.6
TELE COLUMBUS AG TC1D TQ -84850614.65 960322563.6
TELE COLUMBUS AG TC1D EB -84850614.65 960322563.6
TELE COLUMBUS AG 3215720Z GR -84850614.65 960322563.6
TELE COLUMBUS AG TC1 GR -84850614.65 960322563.6
TELECOM IT-RTS TMEAA IM -26146890.82 390114892.6
TELECOM ITAL RSP TMERM B3 -26146890.82 390114892.6
TELECOM ITAL RSP TMERM L3 -26146890.82 390114892.6
TELECOM ITAL RSP TMER PZ -26146890.82 390114892.6
TELECOM ITAL RSP TMER EO -26146890.82 390114892.6
TELECOM ITAL RSP TMERM S2 -26146890.82 390114892.6
TELECOM ITAL RSP TMER EU -26146890.82 390114892.6
TELECOM ITAL RSP TIAZF US -26146890.82 390114892.6
TELECOM ITAL RSP TMER TQ -26146890.82 390114892.6
TELECOM ITAL RSP TCMN IX -26146890.82 390114892.6
TELECOM ITAL RSP TMER IM -26146890.82 390114892.6
TELECOM ITAL-ADR TIAMY US -26146890.82 390114892.6
TELECOM ITAL-RTS TMIDS FP -26146890.82 390114892.6
TELECOM ITALIA M TCLM LN -26146890.82 390114892.6
TELECOM ITALIA M PGA2 GR -26146890.82 390114892.6
TELECOM ITALIA M TMEAZA IM -26146890.82 390114892.6
TELECOM ITALIA M TIAMF US -26146890.82 390114892.6
TELECOM ITALIA M TMEM L3 -26146890.82 390114892.6
TELECOM ITALIA M TME TQ -26146890.82 390114892.6
TELECOM ITALIA M TMEM S2 -26146890.82 390114892.6
TELECOM ITALIA M TME NQ -26146890.82 390114892.6
TELECOM ITALIA M TME EU -26146890.82 390114892.6
TELECOM ITALIA M TMI FP -26146890.82 390114892.6
TELECOM ITALIA M TME NR -26146890.82 390114892.6
TELECOM ITALIA M TMEM B3 -26146890.82 390114892.6
TELECOM ITALIA M TME BQ -26146890.82 390114892.6
TELECOM ITALIA M TCM IX -26146890.82 390114892.6
TELECOM ITALIA M TME IM -26146890.82 390114892.6
TELECOM ITALIA M PGA VX -26146890.82 390114892.6
TELECOM ITALIA M TME EO -26146890.82 390114892.6
TELECOM ITALIA M TME EB -26146890.82 390114892.6
TELECOM ITALIA M TME PZ -26146890.82 390114892.6
TELECOM ITALIA M TME IX -26146890.82 390114892.6
TELECOM ITALIA M TMEGBX EO -26146890.82 390114892.6
TELECOM ITALIA M TME S1 -26146890.82 390114892.6
TELECOM ITALIA M TME QM -26146890.82 390114892.6
TELECOM ITALIA M PGA GR -26146890.82 390114892.6
TELECOM ITALIA M PGA1 GR -26146890.82 390114892.6
TELEFONICA CABLE 4374649Z SM -13714272.04 108786240.3
TELENET GROUP HO 972951Z BB -1648383091 4125011169
TELENET GROUP HO 972991Z BB -1648383091 4125011169
TELENET GRP HLDG TNET PZ -1648383091 4125011169
TELENET GRP HLDG TNET LI -1648383091 4125011169
TELENET GRP HLDG TNET EO -1648383091 4125011169
TELENET GRP HLDG TNET EB -1648383091 4125011169
TELENET GRP HLDG TLGHF US -1648383091 4125011169
TELENET GRP HLDG TNET NQ -1648383091 4125011169
TELENET GRP HLDG TNET QM -1648383091 4125011169
TELENET GRP HLDG TNETB S2 -1648383091 4125011169
TELENET GRP HLDG TNETGBX EU -1648383091 4125011169
TELENET GRP HLDG TNETUSD EO -1648383091 4125011169
TELENET GRP HLDG TNETB B3 -1648383091 4125011169
TELENET GRP HLDG T4I GR -1648383091 4125011169
TELENET GRP HLDG TNET QX -1648383091 4125011169
TELENET GRP HLDG T4I QT -1648383091 4125011169
TELENET GRP HLDG TNETB L3 -1648383091 4125011169
TELENET GRP HLDG TNET SW -1648383091 4125011169
TELENET GRP HLDG TNET EU -1648383091 4125011169
TELENET GRP HLDG TNET MT -1648383091 4125011169
TELENET GRP HLDG T4I TH -1648383091 4125011169
TELENET GRP HLDG TLGHFN L3 -1648383091 4125011169
TELENET GRP HLDG TNETGBP EO -1648383091 4125011169
TELENET GRP HLDG TNET IX -1648383091 4125011169
TELENET GRP HLDG TNET S1 -1648383091 4125011169
TELENET GRP HLDG TLGHFN B3 -1648383091 4125011169
TELENET GRP HLDG TNETGBX EO -1648383091 4125011169
TELENET GRP HLDG TNET BB -1648383091 4125011169
TELENET GRP HLDG TNET BQ -1648383091 4125011169
TELENET GRP HLDG TNET TQ -1648383091 4125011169
TELENET GRP HLDG TNETUSD EU -1648383091 4125011169
TELENET GRP HLDG 3218105Q IX -1648383091 4125011169
TELENET GRP HLDG TNET GK -1648383091 4125011169
TELENET-STRP TNETS BB -1648383091 4125011169
TELENET-UNS ADR TLGHY US -1648383091 4125011169
TELEWEST COM-ADR TWSTY US -3702338522 7581233764
TELEWEST COM-ADR TWT$ LN -3702338522 7581233764
TELEWEST COM-ADR 940767Q GR -3702338522 7581233764
TELEWEST COM-ADR TWSTD US -3702338522 7581233764
TELEWEST COMM TWSTF US -3702338522 7581233764
TELEWEST COMM TWT VX -3702338522 7581233764
TELEWEST COMM 604296Q GR -3702338522 7581233764
TELEWEST COMMUNI 2188148Z LN -67233110.94 202555795
TELEWEST COMMUNI 1646328Z LN -70647363.53 1206793393
TEMENOS UK LTD 1510258Z LN -45594601.76 174643741.6
TF1 VIDEO SASU 4516855Z FP -18656465.65 113026097.4
THALES AVIONICS 3636463Z FP -12162547.91 167485138.3
THALES RAIL SIGN 2812334Z LN -53304418.15 127892833.1
THALES SECURITY 4701729Z FP -426153529.7 822653430.4
THALES TRANSPORT 1163839Z LN -70122221.34 197834485
THARISA PLC THA SJ -90755000 361040992
THEMELIODOMI THEME GA -55751173.78 232036822.6
THEMELIODOMI-AUC THEMEE GA -55751173.78 232036822.6
THEMELIODOMI-RTS THEMED GA -55751173.78 232036822.6
THEMELIODOMI-RTS THEMER GA -55751173.78 232036822.6
THOMSON REUTERS 4777193Z NO -130942490.2 119378624.6
THOMSON TELECOM 4516815Z FP -5134206.103 321303435.7
THORN EMI PLC THNE FP -2265973885 2950096964
THORN EMI-ADR THN$ LN -2265973885 2950096964
THORN EMI-ADR TORNY US -2265973885 2950096964
THORN EMI-CDR THN NA -2265973885 2950096964
THORN EMI-REGD 1772Q GR -2265973885 2950096964
TISCALI - RTS TIQA GR -204369006.4 251559007.9
TISCALI - RTS TISAAW IM -204369006.4 251559007.9
TISCALI SPA TISM L3 -204369006.4 251559007.9
TISCALI SPA TIS IM -204369006.4 251559007.9
TISCALI SPA TIS TQ -204369006.4 251559007.9
TISCALI SPA TISN FP -204369006.4 251559007.9
TISCALI SPA TIS NR -204369006.4 251559007.9
TISCALI SPA TIS EO -204369006.4 251559007.9
TISCALI SPA TISM IX -204369006.4 251559007.9
TISCALI SPA TIS EU -204369006.4 251559007.9
TISCALI SPA TISGBX EU -204369006.4 251559007.9
TISCALI SPA TIS IX -204369006.4 251559007.9
TISCALI SPA TIS VX -204369006.4 251559007.9
TISCALI SPA TIS1 S1 -204369006.4 251559007.9
TISCALI SPA TISGBP EO -204369006.4 251559007.9
TISCALI SPA TSCXF US -204369006.4 251559007.9
TISCALI SPA TIS NQ -204369006.4 251559007.9
TISCALI SPA TISM S2 -204369006.4 251559007.9
TISCALI SPA TIS QM -204369006.4 251559007.9
TISCALI SPA TIQ GR -204369006.4 251559007.9
TISCALI SPA TIS BQ -204369006.4 251559007.9
TISCALI SPA TIS EB -204369006.4 251559007.9
TISCALI SPA TIQ1 GR -204369006.4 251559007.9
TISCALI SPA TISGBX EO -204369006.4 251559007.9
TISCALI SPA TIS NA -204369006.4 251559007.9
TISCALI SPA TISN IX -204369006.4 251559007.9
TISCALI SPA TIS FP -204369006.4 251559007.9
TISCALI SPA TISN NA -204369006.4 251559007.9
TISCALI SPA TISN IM -204369006.4 251559007.9
TISCALI SPA TIS PZ -204369006.4 251559007.9
TISCALI SPA TISN VX -204369006.4 251559007.9
TISCALI SPA TIQG IX -204369006.4 251559007.9
TISCALI SPA TISM B3 -204369006.4 251559007.9
TISCALI SPA- RTS TISAXA IM -204369006.4 251559007.9
TISCALI SPA- RTS 3391621Q GR -204369006.4 251559007.9
TITAN CABLE PLC 715382Q LN -3702338522 7581233764
TIUTA PLC 3814936Z LN -56307814.14 182365274.9
TNT NV TPG LI -713900022.5 2997170017
TNT NV TNT EO -713900022.5 2997170017
TNT NV TNT GK -713900022.5 2997170017
TNT NV TNTUSD EU -713900022.5 2997170017
TNT NV TNTNOK EU -713900022.5 2997170017
TNT NV TNT NQ -713900022.5 2997170017
TNT NV TNTCHF EU -713900022.5 2997170017
TNT NV TNT GR -713900022.5 2997170017
TNT NV TNT S1 -713900022.5 2997170017
TNT NV TNTAUD EO -713900022.5 2997170017
TNT NV TNTNOK EO -713900022.5 2997170017
TNT NV TPG LN -713900022.5 2997170017
TNT NV TPGNF US -713900022.5 2997170017
TNT NV TNTPLN EO -713900022.5 2997170017
TNT NV TNT TQ -713900022.5 2997170017
TNT NV TNTPLN EU -713900022.5 2997170017
TNT NV TNT NA -713900022.5 2997170017
TNT NV TPG NA -713900022.5 2997170017
TNT NV TNT BQ -713900022.5 2997170017
TNT NV TNTUSD EO -713900022.5 2997170017
TNT NV TNTGBX EU -713900022.5 2997170017
TNT NV TNT EB -713900022.5 2997170017
TNT NV TNTP IX -713900022.5 2997170017
TNT NV TNT VX -713900022.5 2997170017
TNT NV TNTGBP EO -713900022.5 2997170017
TNT NV TPG VX -713900022.5 2997170017
TNT NV TNTAUD EU -713900022.5 2997170017
TNT NV TNT QM -713900022.5 2997170017
TNT NV TNTCHF EO -713900022.5 2997170017
TNT NV TPG GR -713900022.5 2997170017
TNT NV TNTGBX EO -713900022.5 2997170017
TNT NV TNT EU -713900022.5 2997170017
TNT NV-ADR TNT US -713900022.5 2997170017
TNT NV-ADR TPGA GR -713900022.5 2997170017
TNT NV-ADR TP US -713900022.5 2997170017
TNT POST GRP-STK TPGS NA -713900022.5 2997170017
TOORA 2916661Q EO -288811.9236 147001663
TOORA 2916665Q EU -288811.9236 147001663
TOORA TOR PZ -288811.9236 147001663
TOORA 1056312D PW -288811.9236 147001663
TOORA-ALLOT CERT 1025366D PW -288811.9236 147001663
TOPAZ ENERGY GRO 4508643Z ID -61682466.52 512166489.3
TOPLAND PORTFOLI 1939134Z LN -70350009.57 188623384.4
TORM A/S TORMCHF EU -163995008 1384248960
TORM A/S 1108066D DC -163995008 1384248960
TORM A/S TORMEUR EO -163995008 1384248960
TORM A/S TORM TQ -163995008 1384248960
TORM A/S TORMC S2 -163995008 1384248960
TORM A/S TORMC L3 -163995008 1384248960
TORM A/S TORM EO -163995008 1384248960
TORM A/S TORM BQ -163995008 1384248960
TORM A/S TORM EB -163995008 1384248960
TORM A/S TORMC B3 -163995008 1384248960
TORM A/S TORM NQ -163995008 1384248960
TORM A/S TORM PZ -163995008 1384248960
TORM A/S TORMUSD EO -163995008 1384248960
TORM A/S TORM QM -163995008 1384248960
TORM A/S TORMGBP EO -163995008 1384248960
TORM A/S D8D GR -163995008 1384248960
TORM A/S TORM EU -163995008 1384248960
TORM A/S DSKBF US -163995008 1384248960
TORM A/S TORM S1 -163995008 1384248960
TORM A/S TORMUSD EU -163995008 1384248960
TORM A/S TORMEUR EU -163995008 1384248960
TORM A/S TORMCHF EO -163995008 1384248960
TORM A/S TORM IX -163995008 1384248960
TORM A/S TORM DC -163995008 1384248960
TORM A/S TORM BY -163995008 1384248960
TORM A/S-ADR D8DA GR -163995008 1384248960
TORM A/S-ADR D8DB GR -163995008 1384248960
TORM A/S-ADR TRMD US -163995008 1384248960
TOUGHER'S OIL DI 3807844Z ID -36877649 104267886.6
TOWER GROUP A/S TOWER BY -31099624.83 338785645.1
TOWER GROUP A/S SICC IX -31099624.83 338785645.1
TOWER GROUP A/S TOWEREUR EU -31099624.83 338785645.1
TOWER GROUP A/S TOWER EO -31099624.83 338785645.1
TOWER GROUP A/S TOWER DC -31099624.83 338785645.1
TOWER GROUP A/S TOWER PZ -31099624.83 338785645.1
TOWER GROUP A/S TOWER EU -31099624.83 338785645.1
TOWER GROUP A/S TOWEREUR EO -31099624.83 338785645.1
TOWER GROUP-NEW TOWERN DC -31099624.83 338785645.1
TOWER GROUP-RTS 3536132Q DC -31099624.83 338785645.1
TOWER GROUP-RTS TOWERT DC -31099624.83 338785645.1
TOYOTA MOTOR MAN 4512043Z FP -46821010.2 743895134.9
TPG NV TNT LN -713900022.5 2997170017
TRABZONSPOR TSO GR -34128608.69 128273145.7
TRABZONSPOR TBZYF US -34128608.69 128273145.7
TRABZONSPOR TSPOR TI -34128608.69 128273145.7
TRABZONSPOR SPOR TSPORM TI -34128608.69 128273145.7
TRABZONSPOR- RTS TSPORR TI -34128608.69 128273145.7
TRADER MEDIA COR 1809857Z LN -68377500.77 1067600712
TRANSPORT D-NEW TNLN FP -6937246.157 107314275.4
TRANSPORT D-RTS TNLR FP -6937246.157 107314275.4
TRAVELEX HOLDING 2917958Z LN -1601950541 2190537985
TRAVELPORT WORLD 1TW TH -338000000 2892000000
TRAVELPORT WORLD TVPTEUR EU -338000000 2892000000
TRAVELPORT WORLD TVPTEUR EO -338000000 2892000000
TRAVELPORT WORLD 1TW GR -338000000 2892000000
TRAVELPORT WORLD TVPT US -338000000 2892000000
TRAVELPORT WORLD 1005045D US -338000000 2892000000
TRINITY MIRROR P 1511258Z LN -131856186 562771692.5
TROUVAY CAUVIN ETEC FP -396977.8818 133986439.7
TROUVAY CAUVIN TVYCF US -396977.8818 133986439.7
TUBE LINES FINAN 1241207Z LN -2914999.962 2408518672
TUI UK LTD 1653824Z LN -207142395 3158921524
TUILERIES FINANC 4701769Z FP -3956981.588 125941142.6
TUTUNBANK TUT TI -948074542.1 622746433.4
TVER ENERGY RET TVSBG RU -24410938.13 161377178
TVER ENERGY RET 0633645D RU -24410938.13 161377178
TVER ENERGY RET TVSB RM -24410938.13 161377178
TVER ENERGY RET TVSB* RU -24410938.13 161377178
TVER ENERGY RET TVSB RU -24410938.13 161377178
TVER ENERGY-PFD TVSBP* RU -24410938.13 161377178
TVER ENERGY-PFD TVSBP RM -24410938.13 161377178
TVER ENERGY-PFD TVSBPG RU -24410938.13 161377178
TVER ENERGY-PFD TVSBP RU -24410938.13 161377178
TVER ENERGY-PFD 0633659D RU -24410938.13 161377178
UKRAINIAN INNOVA UIFC UZ -4433976.899 132567951.3
ULSTERBUS LTD 3820392Z LN -10764138.12 304076265.4
UMBRO INTERNATIO UMBROZ HK -23446865.21 108386366.5
UNEDIC 220055Z FP -13751596343 9133559737
UNILEVER UK CENT 1273034Z LN -2677661868 15838747390
UNITEC UNION TIE 3801344Z SM -23208240.29 131217999.9
UNITED PAN -ADR UPEA GR -5505478850 5112616630
UNITED PAN-A ADR UPCOY US -5505478850 5112616630
UNITED PAN-EUR-A UPC LN -5505478850 5112616630
UNITED PAN-EUR-A UPC LI -5505478850 5112616630
UNITED PAN-EUROP UPC VX -5505478850 5112616630
UNITED PAN-EUROP UPCOF US -5505478850 5112616630
UNITED PAN-EUROP UPCEF US -5505478850 5112616630
UNITED PAN-EUROP UPE1 GR -5505478850 5112616630
UNITED TEXTILES NAOYK GA -163112562.6 286535432.7
UNITED TEXTILES NAOSF US -163112562.6 286535432.7
UNITED TEXTILES NML1 GR -163112562.6 286535432.7
UNITED TEXTILES UTEX GA -163112562.6 286535432.7
UNITED TEXTILES UTEX EU -163112562.6 286535432.7
UNITED TEXTILES UTEX EO -163112562.6 286535432.7
UNITED TEXTILES UTEX PZ -163112562.6 286535432.7
UNIVERSAL LEASIN 2581586Z LN -28689717.99 155124932.2
UPC HOLDING BV 3590264Z NA -14319465148 14013219901
UPP NOTTINGHAM L 1958934Z LN -41006312.76 172101149.9
URBAN SPLASH GRO 4286109Z LN -54469749.91 294837811
URBAS GRUPO FINA UBSE S2 -58419335.21 112685124.5
URBAS GRUPO FINA UBS EO -58419335.21 112685124.5
URBAS GRUPO FINA UZY GR -58419335.21 112685124.5
URBAS GRUPO FINA UBS NR -58419335.21 112685124.5
URBAS GRUPO FINA UBS S1 -58419335.21 112685124.5
URBAS GRUPO FINA UBS EU -58419335.21 112685124.5
URBAS GRUPO FINA UBS SM -58419335.21 112685124.5
URBAS GRUPO FINA UBSE L3 -58419335.21 112685124.5
URBAS GRUPO FINA UBS TQ -58419335.21 112685124.5
URBAS GRUPO FINA UBS IX -58419335.21 112685124.5
URBAS GRUPO FINA UBS EB -58419335.21 112685124.5
URBAS GRUPO FINA UBSE B3 -58419335.21 112685124.5
URBAS GUADAHERMO URBZF US -58419335.21 112685124.5
URBAS GUADAHERMO UBSS PZ -58419335.21 112685124.5
URBAS SA - RT UBS/D SM -58419335.21 112685124.5
US JUNCTION LTD 4448681Z LN -34382425.75 143550635.9
USINES CHAUSSO-B USCH FP -23067631.26 249374198.4
USINES CHAUSSON USCS FP -23067631.26 249374198.4
UTC GROUP UGR LN -11904731.18 203553741.8
UTKILEN SHIPPING 4446161Z NO -1914233.387 153603650.5
VALE DO LOBO - R 4764257Z PL -77564257.57 440086474.5
VALEO SYSTEMES D 4518495Z FP -154469722.8 354757514.5
VECTURA AS 4414505Z NO -7960396.671 246417342.6
VEOLIA ES LANDFI 1377362Z LN -21590467.78 361889226.2
VEOLIA TRANSPORT 4684377Z FP -4105979.639 216367398.9
VEOLIA TRANSPORT 4030437Z NA -12976610.13 100639002.5
VERNEUIL PARTICI VRNL FP -6937246.157 107314275.4
VERNEUIL PARTICI VRNL EU -6937246.157 107314275.4
VERNEUIL PARTICI VRNL TQ -6937246.157 107314275.4
VERNEUIL PARTICI VRNL PZ -6937246.157 107314275.4
VERNEUIL PARTICI VRNLP L3 -6937246.157 107314275.4
VERNEUIL PARTICI VRNLP S2 -6937246.157 107314275.4
VERNEUIL PARTICI VRNL S1 -6937246.157 107314275.4
VERNEUIL PARTICI VRNL EB -6937246.157 107314275.4
VERNEUIL PARTICI VRNL IX -6937246.157 107314275.4
VERNEUIL PARTICI TCNP IX -6937246.157 107314275.4
VERNEUIL PARTICI VRNLP B3 -6937246.157 107314275.4
VERNEUIL PARTICI VRNL EO -6937246.157 107314275.4
VERNEUIL PARTICI VEPA FP -6937246.157 107314275.4
VESTAS TECHNOLOG 1665752Z LN -7519307.393 126222980.3
VETERIN - RIGHTS VETR GA -1446551773 135183840.6
VIA CAVOUR SRL 3997892Z IM -1947582.88 168856438.8
VIALTIS 4730449Z FP -2969942.626 141404113.3
VIMPEL SHIP-BRD SOVP* RU -8432780.313 229071575.4
VIMPEL SHIP-BRD SOVP RU -8432780.313 229071575.4
VINCENZO ZUCCHI ZUCXAW IM -1962546.592 214098163.1
VINK HOLDINGS LT 4380233Z LN -13477512.44 132006628.3
VION FOOD GROUP 661873Z NA -34576140.07 2937603388
VIOTER VIOTF US -23829660 155608222.9
VIOTER S.A.-RTS BIOTR GA -23829660 155608222.9
VIOTER SA-AUCTIO BIOTE GA -23829660 155608222.9
VIRGIN HOTELS GR 4288389Z LN -30191617.1 109996972.6
VIRGIN MOB-ASSD VMOC LN -392176531.7 166074713.7
VIRGIN MOB-ASSD VMOA LN -392176531.7 166074713.7
VIRGIN MOBILE VMOB PO -392176531.7 166074713.7
VIRGIN MOBILE UEM GR -392176531.7 166074713.7
VIRGIN MOBILE VGMHF US -392176531.7 166074713.7
VIRGIN MOBILE VMOB VX -392176531.7 166074713.7
VIRGIN MOBILE HO VMOB LN -392176531.7 166074713.7
VIRIDOR WASTE EX 1428546Z LN -22087452.25 120614872.4
VISTEON SYSTEMES 4699177Z FP -21405018.49 207862872.9
VNG NORGE AS 4513147Z NO -87651824.24 256963958.9
VOLGABURMASH-BRD VBUM* RU -5816650.701 163044289
VOLGABURMASH-BRD VBUM RU -5816650.701 163044289
VOLGOGAZ-BRD VLGG RU -24509870.89 105172892.8
VOLGOGAZ-BRD VLGG* RU -24509870.89 105172892.8
VOLGOGRAD - PFD VGSBP* RU -29565028.8 369623522.9
VOLGOGRAD - PFD VGSBP RU -29565028.8 369623522.9
VOLGOGRAD - PFD VGSBPG RU -29565028.8 369623522.9
VOLGOGRAD - PFD VGSBP RM -29565028.8 369623522.9
VOLGOGRAD ENERGO VGSB RM -29565028.8 369623522.9
VOLGOGRAD ENERGO VGSBG RU -29565028.8 369623522.9
VOLGOGRAD ENERGO VGSB* RU -29565028.8 369623522.9
VOLGOGRAD ENERGO VGSB RU -29565028.8 369623522.9
VOLGOGRAD KHIM VHIM* RU -126558518.8 153595253.5
VOLGOGRAD KHIM VHIM RU -126558518.8 153595253.5
VOLKER WESSE-CVA VWSTC VX -395744.3147 4036389300
VOLKER WESSE-CVA VSTNC NA -395744.3147 4036389300
VOLKER WESSE-CVA KKJKF US -395744.3147 4036389300
VOLKER WESSEL-N VSTNN NA -395744.3147 4036389300
VOLKER WESSEL-ST VSTS NA -395744.3147 4036389300
VOLKER WESSELS-D VWSS NA -395744.3147 4036389300
VOLKER WESSELS-D 69467Q NA -395744.3147 4036389300
VOLKERWESSELS BO 4062101Z NA -51019.30189 164200797
VOLUTION GROUP FANEUR EO -20561799.02 327437694.9
VOLUTION GROUP FAN LN -20561799.02 327437694.9
VOLUTION GROUP FANEUR EU -20561799.02 327437694.9
VOLUTION GROUP FANL S2 -20561799.02 327437694.9
VOLUTION GROUP FANL B3 -20561799.02 327437694.9
VOLUTION GROUP FANL L3 -20561799.02 327437694.9
VOLUTION GROUP FANGBX EO -20561799.02 327437694.9
VOLUTION GROUP FANGBX EU -20561799.02 327437694.9
VOLUTION GROUP FANL IX -20561799.02 327437694.9
VOLUTION GROUP FANL EB -20561799.02 327437694.9
VOLUTION GROUP FANL S1 -20561799.02 327437694.9
VOLUTION GROUP VO1 GR -20561799.02 327437694.9
VOLUTION GROUP FANL BQ -20561799.02 327437694.9
VOLUTION GROUP P 4453393Z LN -20561799.02 327437694.9
VORWERK & CO KG VORW GR -1423024.853 5009284697
VOYAGE GROUP LTD 4168725Z LN -89544630.84 572211682.5
VT SUPPORT SERVI 1761897Z LN -3791466.085 345328841.8
VUE ENTERTAINMEN 4514631Z LN -116156914 894935082.8
W2005 W2007 CARN 3824100Z NA -90774192.62 313655754.3
WARNER CHILCOT-A G3LA TH -427000000 3832000000
WARNER CHILCOT-A G3LA GR -427000000 3832000000
WARNER CHILCOT-A G3L GR -427000000 3832000000
WARNER CHILCOT-A WCRX US -427000000 3832000000
WARNER CHILCOT-A WCRXEUR EO -427000000 3832000000
WARNER CHILCOT-A WCRXEUR EU -427000000 3832000000
WARNER MUSIC GRO 3809048Z ID -104416.9967 209719016.9
WATERFORD - RTS WWWA ID -505729895.2 820803256
WATERFORD - RTS WWWB ID -505729895.2 820803256
WATERFORD - RTS WWWA GR -505729895.2 820803256
WATERFORD - RTS WWWB GR -505729895.2 820803256
WATERFORD - RTS 508523Q LN -505729895.2 820803256
WATERFORD - RTS 508519Q LN -505729895.2 820803256
WATERFORD CRYSTA 4459209Z ID -150437387.1 114109583.5
WATERFORD W-ADR WATWY US -505729895.2 820803256
WATERFORD WDGEWD WATFF US -505729895.2 820803256
WATERFORD WDGEWD WATWF US -505729895.2 820803256
WATERFORD WE-RTS WTFN LN -505729895.2 820803256
WATERFORD WE-RTS WTFN ID -505729895.2 820803256
WATERFORD WE-RTS WTFN VX -505729895.2 820803256
WATERFORD WE-RTS WTFF ID -505729895.2 820803256
WATERFORD WE-RTS WTFF LN -505729895.2 820803256
WATERFORD WED-RT 586552Q LN -505729895.2 820803256
WATERFORD WED-RT 586556Q LN -505729895.2 820803256
WATERFORD WED-RT WWWD GR -505729895.2 820803256
WATERFORD WED-RT WTFR LN -505729895.2 820803256
WATERFORD WED-RT WWWC GR -505729895.2 820803256
WATERFORD WED-RT WWWC ID -505729895.2 820803256
WATERFORD WED-RT WWWD ID -505729895.2 820803256
WATERFORD WED-UT WTFUGBX EO -505729895.2 820803256
WATERFORD WED-UT WTFUGBX EU -505729895.2 820803256
WATERFORD WED-UT WTFU ID -505729895.2 820803256
WATERFORD WED-UT WTFU LN -505729895.2 820803256
WATERFORD WED-UT WTFU EU -505729895.2 820803256
WATERFORD WED-UT WTFU PO -505729895.2 820803256
WATERFORD WED-UT WTFU EO -505729895.2 820803256
WATERFORD WED-UT WWWD PZ -505729895.2 820803256
WATERFORD WED-UT WTFU VX -505729895.2 820803256
WATERFORD WED-UT WTFU IX -505729895.2 820803256
WATERFORD WED-UT WWW PO -505729895.2 820803256
WATERFORD WED-UT WWW GR -505729895.2 820803256
WATERFORD-ADR UT WATFZ US -505729895.2 820803256
WATERFORD-ADR UT WFWA GR -505729895.2 820803256
WATERFORD-SUB 3001875Z ID -505729895.2 820803256
WATSON & PHILIP WTSN LN -120493900 252232072.9
WEATHERFORD FRAN 3633107Z FP -7947479.354 100318950
WESCOT TOPCO LTD 4007020Z LN -24133448.87 109740838.3
WEST HAM UNITED 1275834Z LN -180012199.9 135176063.9
WESTA INTERNATIO WESW B3 -58977000 246108992
WESTA INTERNATIO WESW L3 -58977000 246108992
WESTA INTERNATIO WESW S2 -58977000 246108992
WESTAISIC WESPLN EO -58977000 246108992
WESTAISIC WES PW -58977000 246108992
WESTAISIC WESPLN EU -58977000 246108992
WHELCO HOLDINGS 2741744Z LN -1295294.241 100785295.7
WHITE HART LANE 2004631Z LN -1123372.612 151053464.8
WILLIAM HILL CRE 1068754Z LN -1946504.998 266028437.2
WILLIAM HILL-W/I 605547Q US -59180694.37 1343662688
WILLIAM HILL-W/I 101001Q LN -59180694.37 1343662688
WINCANTON PL-ADR WNCNY US -434506999.9 685414924.1
WINCANTON PLC WIN1 BQ -434506999.9 685414924.1
WINCANTON PLC WIN1 TQ -434506999.9 685414924.1
WINCANTON PLC WIN1 QM -434506999.9 685414924.1
WINCANTON PLC WIN1GBP EO -434506999.9 685414924.1
WINCANTON PLC WIN1 EB -434506999.9 685414924.1
WINCANTON PLC WINL S2 -434506999.9 685414924.1
WINCANTON PLC WIN1 S1 -434506999.9 685414924.1
WINCANTON PLC WINL B3 -434506999.9 685414924.1
WINCANTON PLC WIN1EUR EU -434506999.9 685414924.1
WINCANTON PLC WIN PZ -434506999.9 685414924.1
WINCANTON PLC WIN1USD EU -434506999.9 685414924.1
WINCANTON PLC WNCNF US -434506999.9 685414924.1
WINCANTON PLC WIN1EUR EO -434506999.9 685414924.1
WINCANTON PLC WINL L3 -434506999.9 685414924.1
WINCANTON PLC WIN1USD EO -434506999.9 685414924.1
WINCANTON PLC WIN10 EO -434506999.9 685414924.1
WINCANTON PLC WIN13 EO -434506999.9 685414924.1
WINCANTON PLC WIN1 NQ -434506999.9 685414924.1
WINCANTON PLC WIN7 EO -434506999.9 685414924.1
WINCANTON PLC WIN LN -434506999.9 685414924.1
WINCANTON PLC WIN PO -434506999.9 685414924.1
WINCANTON PLC WIN11 EO -434506999.9 685414924.1
WINCANTON PLC WIN6 EO -434506999.9 685414924.1
WINCANTON PLC WIN4 EO -434506999.9 685414924.1
WINCANTON PLC WIN8 EO -434506999.9 685414924.1
WINCANTON PLC WIN1 EU -434506999.9 685414924.1
WINCANTON PLC WIN12 EO -434506999.9 685414924.1
WINCANTON PLC WIN9 EO -434506999.9 685414924.1
WINCANTON PLC WIN IX -434506999.9 685414924.1
WINCANTON PLC WIN5 EO -434506999.9 685414924.1
WINCANTON PLC WIN VX -434506999.9 685414924.1
WINCANTON PLC WIN1 EO -434506999.9 685414924.1
WINDSOR TELEVISI 1475394Z LN -284777809.5 341907343.5
WOLSELEY FRANCE 4736457Z FP -7709175.401 626902917
XCHANGING UK LTD 1814130Z LN -63394768.74 447098103.7
XFERA MOVILE SA 1236Z SM -163864345.4 1641307422
XSTRATA SERVICES 1975918Z LN -2581782.821 151944610.4
YANG MING UK LTD 1756777Z LN -82951196.78 273789409.4
YASARBANK YABNK TI -948074542.1 622746433.4
YELL GROUP PLC YELL VX -2257521127 2120614224
YELL GROUP PLC YELL PO -2257521127 2120614224
YELL GROUP PLC YELL NQ -2257521127 2120614224
YELL GROUP PLC YELL LN -2257521127 2120614224
YELL GROUP PLC YELL PZ -2257521127 2120614224
YELL GROUP- SUB 3449192Z LN -2257521127 2120614224
YELL LTD 1941670Z LN -1194529772 559974497.4
YORK REFRIGERATI 1846666Z LN -33510192.51 1093012767
YPSO FRANCE SAS 711227Z FP -636950566.9 3718583352
YUASA BATTERY UK 1449090Z LN -7606058.565 109145700.5
ZAPORIZHFERO-GDR 621176Z LX -13433738.24 273876108.6
ZAPORIZHFERO-GDR 0697025D GR -13433738.24 273876108.6
ZAPORIZHFEROSPLA ZFER UZ -13433738.24 273876108.6
ZERNOVAYA KOMPAN ONAST RU -37454792.73 659984505.1
ZIL AUTO PLANT ZILL$ RU -237320797.3 371525868.1
ZIL AUTO PLANT-P ZILLP RM -237320797.3 371525868.1
ZIL AUTO PLANT-P ZILLP RU -237320797.3 371525868.1
ZIL AUTO PLANT-P ZILLP* RU -237320797.3 371525868.1
ZINVEST FASHION 3775412Z NA -296493.9562 180637333.9
ZKD-BRD ZKRD RU -21363755.99 173276357.4
ZKD-BRD ZKRD* RU -21363755.99 173276357.4
ZUCCHI - RTS ZUCAZEUR EU -1962546.592 214098163.1
ZUCCHI - RTS ZUCAZEUR EO -1962546.592 214098163.1
ZUCCHI - RTS ZUCAZA IM -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCR TQ -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCRM L3 -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCRM B3 -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCR IM -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCN IX -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCR EO -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCRM S2 -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCR EU -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCR PZ -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCS IM -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUCM S2 -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC EU -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUCI IX -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC EB -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC IX -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC EO -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC PZ -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUCM L3 -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUCM B3 -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC S1 -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC TQ -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC BQ -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC QM -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC IM -1962546.592 214098163.1
ZUCCHI,VINCENZO VIZUF US -1962546.592 214098163.1
ZURICH EMPLOYMEN 1292298Z LN -571647918 152143800.5
ZVON ENA HOLDING ZVHR PZ -304033160.5 774883403.9
ZVON ENA HOLDING ZVHR EU -304033160.5 774883403.9
ZVON ENA HOLDING ZVHR SV -304033160.5 774883403.9
ZVON ENA HOLDING ZVHR EO -304033160.5 774883403.9
ZWINGER OPCO 6 B 3821644Z NA -103722296.7 611138495.1
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than US$3 per
share in public markets. At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/booksto order any title today.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter-Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Valerie U. Pascual, Marites O. Claro, Rousel Elaine T. Fernandez,
Joy A. Agravante, Ivy B. Magdadaro, and Peter A. Chapman, Editors.
Copyright 2015. All rights reserved. ISSN 1529-2754.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.
Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.
The TCR Europe subscription rate is US$775 per half-year,
delivered via e-mail. Additional e-mail subscriptions for members
of the same firm for the term of the initial subscription or
balance thereof are US$25 each. For subscription information,
contact Peter Chapman at 215-945-7000 or Nina Novak at
202-362-8552.
* * * End of Transmission * * *