/raid1/www/Hosts/bankrupt/TCREUR_Public/150310.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, March 10, 2015, Vol. 16, No. 48
Headlines
A U S T R I A
HETA ASSET: Moody's Lowers Ratings on Covered Bonds to 'Ba1'
B U L G A R I A
SOFIA CITY: S&P Affirms 'BB+' Issuer Credit Rating
G E R M A N Y
TALISMAN-4 FINANCE: Fitch Affirms 'Dsf' Ratings on 4 Note Classes
H U N G A R Y
HEXIM: Fitch Affirms BB+ LT Issuer Default Rating; Outlook Stable
I R E L A N D
AWAS AVIATION: Moody's Alters Outlook to Stable; Affirms Ba3 CFR
IBRC: Liquidation May Lead to Paying Unsecured Creditors
MALLINCKRODT INTERNATIONAL: Moody's Reviews Ba3 CFR for Downgrade
I T A L Y
AUTOSTRADA BRESCIA: Fitch Rates EUR600MM Sr. Sec. Bond 'BB+(EXP)'
GRUPPO EDITORIALE: S&P Affirms Then Withdraws 'BB-' CCR
WIND TELECOMUNICAZIONI: S&P Affirms 'BB-' CCR; Outlook Negative
WIND TELECOMUNICAZIONI: Fitch Rates Proposed Sr. Secured Loan BB-
K A Z A K H S T A N
EURASIAN RESOURCES: Moody's Affirms 'B3' CFR; Outlook Negative
L U X E M B O U R G
AGEASFINLUX SA: Moody's Affirms 'Ba3(hyb)' Jr. Sub. Debt Rating
ALTICE-NUMERICABLE: S&P Affirms 'B+' CCR; Outlook Negative
N E T H E R L A N D S
REFRESCO GERBER: S&P Puts 'B+' CCR on CreditWatch Positive
TRONOX PIGMENTS: Moody's Cuts Secured Bank Facility Rating to Ba3
VIMPELCOM LTD: Moody's Says Debt Buyback Offer is Credit Positive
N O R W A Y
NORSKE SKOGINDUSTRIER: S&P Raises CCR to 'CCC+'; Outlook Negative
R U S S I A
BALTIC LEASING: Fitch Rates RUB3BB Fixed-Rate Bonds 'B+'
FAR EASTERN: Moody's Affirms 'B1' Long-Term Deposit Ratings
MECHEL OAO: VTB Group Mulls Bankruptcy Petition
RSG INTERNATIONAL: S&P Affirms 'B-/B' CCR on Cash Accumulation
RUSSIAN REGIONAL: Moody's Confirms Ba3 Long-Term Deposit Ratings
SOGAZ & INSURANCE: S&P Cuts Counterparty Credit Ratings to BB+
TOMSK CITY: Fitch Affirms 'BB' Issuer Default Rating
T U R K E Y
TURK HAVA: S&P Assigns 'BB+' Corp. Credit Rating; Outlook Neg.
U K R A I N E
UKRAINE: Total Losses From Bank Insolvencies Comprise 9% of GDP
VAB BANK: Moody's Extends Review on 'Ca' National Scale Rating
U N I T E D K I N G D O M
FRAME WISE: Administrators Put Business Up for Sale
MERLIN ENTERTAINMENTS: S&P Revises Outlook & Affirms 'BB' CCR
WOOLWORTHS AND BONMARCHE: Former Workers 'Left in Limbo' Over Pay
* UK: Scottish Bankruptcy at Pre-Recession Levels
* UK: Late Payments Force Businesses to Make Tough Decisions
* UK: Record Price Deflation Hits Retailers' Margins, KPMG Warns
* UK: Businesses Want Secretary to Rethink Legal Funding Rules
X X X X X X X X
* Large Companies with Insolvent Balance Sheets
*********
=============
A U S T R I A
=============
HETA ASSET: Moody's Lowers Ratings on Covered Bonds to 'Ba1'
------------------------------------------------------------
Moody's Investors Service downgraded to Ba1 from Baa3 the covered
bonds issued by Heta Asset Resolution AG (backed senior unsecured
Ca).
The rating action follows Moody's decision to downgrade Heta
Asset Resolution AG's Carinthian-state-guaranteed debt rating
sand a revised assessment of the unguaranteed senior unsecured
debt (not publicly rated).
Moody's Timely Payment Indicator (TPI) remains "High".
Moody's determines covered bond ratings using a two-step process:
an expected loss analysis and a TPI framework analysis.
Moody's uses its Covered Bond Model (COBOL) to determine a rating
based on the expected loss on the bond. COBOL determines expected
loss as (1) a function of the probability that the issuer will
cease making payments under the covered bonds (a CB anchor
event); and (2) the stressed losses on the cover pool assets
following a CB anchor event.
The CB anchor for this program is the senior unsecured rating
(SUR) plus 0 notches, given that the debt ratio is below 5%.
The cover pool losses for the program are 44.1%. This is an
estimate of the losses Moody's currently models following a CB
anchor event. Moody's splits cover pool losses between market
risk of 34.3% and collateral risk of 9.8%. Market risk measures
losses stemming from refinancing risk and risks related to
interest-rate and currency mismatches (these losses may also
include certain legal risks). Collateral risk measures losses
resulting directly from cover pool assets' credit quality.
Moody's derives collateral risk from the collateral score, which
for this program is currently 19.6%.
The over-collateralization (OC) in the cover pool is 312.6 %, of
which the issuer provides 38.5% on a "committed" basis.
The minimum OC level consistent with the Ba1 rating target is
55.5%, of which the issuer should provide 37.0% on a "committed"
basis. These numbers show that Moody's is relying on
"uncommitted" OC in its expected loss analysis.
For further details on cover pool losses, collateral risk, market
risk, collateral score and TPI Leeway across covered bond
programs rated by Moody's, please refer to "Moody's Global
Covered Bonds Monitoring Overview", published quarterly. All
numbers in this section are based on the most recent Performance
Overview based on data as of 30 September 2014.
Moody's assigns a TPI, which measures the likelihood of timely
payments to covered bondholders following a CB anchor event. The
TPI framework limits the covered bond rating to a certain number
of notches above the CB anchor.
The CB anchor is the main determinant of a covered bond program's
rating robustness. A change in the level of the CB anchor could
lead to an upgrade or downgrade of the covered bond ratings. The
TPI Leeway measures the number of notches by which Moody's might
lower the CB anchor before the rating agency downgrades the
covered bond ratings because of the TPI framework's constraints.
The TPI assigned to this program is High. The TPI Leeway for
this program is unpublished, thus any reduction of the CB anchor
may lead to a downgrade of the covered bonds.
A multiple-notch downgrade of the covered bonds might occur in
certain circumstances, such as (1) a sovereign downgrade
negatively affecting both the CB anchor and the TPI; (2) a
multiple-notch downgrade of the CB anchor; or (3) a material
reduction of the value of the cover pool.
The principal methodology used in this rating was "Moody's
Approach to Rating Covered Bonds" published in March 2014.
===============
B U L G A R I A
===============
SOFIA CITY: S&P Affirms 'BB+' Issuer Credit Rating
--------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB+' long-term
issuer credit rating on the City of Sofia. The outlook is
stable.
RATIONALE
The long-term rating on Sofia mainly reflects S&P's long-term
sovereign credit rating on Bulgaria.
S&P caps the long-term rating on Sofia at the level of the 'BB+'
long-term rating on Bulgaria. Under S&P's methodology, a local
or regional government (LRG) can be rated higher than its
sovereign if S&P believes that it exhibits certain
characteristics, as described in "Ratings Above The Sovereign --
Corporate And Government Ratings: Methodology And Assumptions,"
published Nov. 19, 2013. S&P do not currently believe that
Bulgarian LRGs, including Sofia, meet these conditions.
Consequently, S&P do not see a possibility that we could rate
Sofia higher than Bulgaria.
Based on Sofia's intrinsic credit strengths and in accordance
with S&P's criteria, it assess Sofia's stand-alone credit profile
(SACP) at 'bbb'. The SACP is not a rating but a means of
assessing the intrinsic creditworthiness of a LRG under the
assumption that there is no sovereign rating cap.
The SACP on Sofia reflects S&P's view of the city's exceptional
liquidity and strong budgetary flexibility, based on its
significant autonomy in managing local revenues. This
flexibility is somewhat constrained, however, by the city
government's reluctance to raise taxes and charges ahead of
municipal elections scheduled for the fourth quarter of 2015.
Sofia's economic wealth is average compared with international
peers, in S&P's view.
The SACP is constrained by Sofia's evolving but unbalanced
institutional framework. Combined with weak, albeit
strengthening, financial management, this limits the
predictability of the city's financial performance. A large
capital investment program will likely keep our assessment of the
city's budgetary performance at average, with widening deficits
after capital accounts. It will also see the city's debt burden
remain high, including relatively high exposure to market risks
and high contingent liabilities relating to its exposures to
municipal companies and a municipal bank.
S&P views Sofia's economic wealth as average, compared globally.
Although Bulgaria's GDP per capita is relatively low at about
$7,500, S&P believes Sofia benefits from an exceptionally
diversified economy. The city is also Bulgaria's administrative,
financial, and economic center.
In S&P's view, Sofia benefits from relatively high budgetary
flexibility owing to its increased authority over local taxes.
Nevertheless, S&P understands that the city remains reluctant to
raise taxes while economic growth remains anemic and ahead of the
municipal elections due in the fourth quarter of 2015, and S&P do
not expect it will do so during the next two years. In addition,
due to the large amount of off-budget investments in the city's
infrastructure, S&P assumes that the city could delay some of its
capital expenditure (capex) beyond 2015 if needed.
The city's economic base and strong flexibility support what S&P
assess as its average budgetary performance, although this has
been temporarily weakening, in S&P's view. In S&P's base-case
scenario, the city's performance will be affected by economic
growth dwindling to a sluggish 1.0% on average in 2015-2017, an
unwillingness to raise taxes and fees, an increase in operating
spending ahead of the municipal elections, and the need to
accelerate capex to maximize benefits from the availability of
earmarked grants from the 2007-2013 EU budget.
In S&P's base case, it expects the city to maintain its adjusted
operating surplus (net of expenditures delegated by the central
government and corresponding revenues), as a percentage of
adjusted operating revenues, at about 17% on average during 2013-
2017. In 2014, the city's operating surplus dropped to 12% of
operating revenues, which S&P views as a one-off slump stemming
from higher investment-related operating spending. S&P expects
that a reviving construction sector and efforts to improve the
collectability of local taxes will result in operating surplus
returning to about 17.7% of operating revenues on average in
2015-2017.
The city's strong operating performance is helping finance its
ambitious capex program. However, although the city receives
substantial capital transfers from the central government and EU
grants, it has to co-finance investments in transport
infrastructure and waste treatment facilities.
The EU budget cycle has a strong impact on Sofia's budgetary
performance. The city accelerated expenditures in 2014, and will
likely do so again in 2015, the last year in which Sofia can use
earmarked grants from the 2007-2013 EU budget. As a result,
Sofia's deficit after capital accounts in 2014 reached 16.5% of
total revenues, compared with a 2% surplus one year earlier. S&P
expects Sofia's deficit to peak at about 20.7% of total revenues
in 2015. The new 2014-2020 EU financial framework will not
result in immediate new spending, since the approval of projects
eligible for EU co-funding will require a lengthy bureaucratic
process. As a result, S&P expects a sharp reduction in the
city's budget deficit, to an average of 1.7% of total revenues in
2016-2017, before it starts widening again.
S&P expects high capex will fuel Sofia's debt accumulation, which
S&P already assess as high. In our base-case scenario, its direct
debt as a percentage of operating revenues will gradually climb
to about 123.6% by year-end 2016 and then ease to about 112.3% a
year after. Tax-supported debt, which also includes debt of
municipal non-self-supporting companies (companies that do or
will likely require financial support from the city), will
increase to about 70% of consolidated operating revenues by end-
2017.
S&P assumes that in 2015 the Urban Mobility Center (the company
that coordinates Sofia's public transport services) will take out
a loan of up to Bulgarian lev (BGN) 80 million to meet its
payables to transport operators. Although S&P considers the city
to have moderate debt, it is still significantly exposed to
market risks. As of Dec. 31, 2014, about 28% of the city's debt
was denominated in Japanese yen and remained unhedged.
The ratings are also constrained by the city's high contingent
liabilities, which, if they fully materialize, S&P estimates at
slightly below 30% of its adjusted consolidated operating
revenues. These include sizable overdue payables of the city-
owned heating utility, Toplofikacia, accumulated over several
years, and a potential capital requirement of Municipal Bank A.D.
Toplofikacia is the largest district heating producer and
distributor. It has been suffering financially for many years
because of a gap between collected payments and obligations to
Bulgargas for natural gas. The company is exposed to the
volatility of energy prices and potentially to the supply of
Russian gas via Ukraine, although this risk is somewhat mitigated
by the role of Bulgargas as intermediary.
In S&P's view, the city's financial management is weak, albeit
strengthening. Its financial planning still lacks a long-term
perspective, although the quality of budgeting and the degree of
its control over its GREs have recently improved.
The ongoing turbulence in the Bulgarian political environment
creates uncertainty for the evolution of intergovernmental
relations. S&P cannot rule out unexpected changes in the
distribution of revenues and spending tasks, which could arise
from the evolving-but-unbalanced institutional framework under
which Bulgarian municipalities operate.
S&P might revise the SACP downward if it notices a weakening of
the institutional framework under which Bulgarian local
governments operate.
LIQUIDITY
Under S&P's methodology, it considers Sofia's liquidity to be
exceptional. S&P bases its assessment on its currently
exceptional debt service coverage. Its available cash reserves
and high internal cash-generating capacity offset what S&P views
as its limited access to external liquidity due to weaknesses in
Bulgaria's banking system and its shallow capital markets.
Thanks to a favorable long-term maturity profile, grace periods
in principal loan repayments, and an amortizing debt structure,
Sofia's debt service will remain at an estimated low of 7%-8% of
adjusted operating revenues in 2015-2017.
S&P expects the city's average cash to cover its annual debt
service over the next 12 months by at least 3x. S&P expects that
in 2015 the city's average cash position, including the coverage
of the projected deficit, will be about BGN100 million, against
our estimate of BGN32 million in annual debt service.
Furthermore, S&P anticipates the city's internal cash-generating
capability will remain strong over the next two-to-three years,
with relatively high operating surpluses covering annual debt
service more than 2x.
The city holds free cash on accounts and deposits in a municipal
bank, but S&P do not apply a haircut to cash holdings. S&P
understands that banks in Bulgaria are legally obliged to hold
Bulgarian treasuries as collateral for municipalities' cash
holdings at a special account at the Bulgarian National Bank. If
the Bulgarian National Bank were to revise its policy, S&P could
revise downward its assessment of the city's liquidity position.
S&P views the city's access to external liquidity as limited by
Bulgaria's weak domestic banking sector.
OUTLOOK
The stable outlook mirrors that on Bulgaria. Any negative rating
action S&P takes on the sovereign will be followed by a similar
action on Sofia. A positive rating action on the sovereign will
be followed by a similar action on Sofia as long as the city's
SACP at the time remains above or at the same level as the
sovereign credit rating.
There is no intrinsic upside scenario for Sofia because, under
S&P's criteria, it do not currently rate Bulgarian municipalities
above the sovereign.
S&P views an intrinsic downside scenario as highly unlikely
because the SACP on the city is higher than the credit rating.
RATINGS LIST
Rating Rating
To From
Sofia (City of)
Issuer credit rating
Foreign and Local Currency BB+/Stable/-- BB+/Stable/--
=============
G E R M A N Y
=============
TALISMAN-4 FINANCE: Fitch Affirms 'Dsf' Ratings on 4 Note Classes
-----------------------------------------------------------------
Fitch Ratings has affirmed Talisman-4 Finance plc, as:
EUR73.2 million class A (XS0263096389) affirmed at 'Bsf';
Outlook Negative
EUR39.4 million class B (XS0263098161) affirmed at 'CCsf';
Recovery Estimate (RE) 10%
EUR39.4 million class C (XS0263098914) affirmed at 'Csf'; RE 0%
EUR3.8 million class D (XS0263099722) affirmed at 'Dsf'; RE 0%
EUR0 million class E (XS0263100835) affirmed at 'Dsf'; RE 0%
EUR0 million class F (XS0263101304) affirmed at 'Dsf'; RE 0%
EUR0 million class G (XS0263101569) affirmed at 'Dsf'; RE 0%
The transaction is a securitization of originally eight
commercial mortgage loans secured on assets located in Germany.
As of the January 2015 interest payment date, only one loan
remained.
KEY RATING DRIVERS
The affirmation is driven by the stable performance of the sole
remaining loan. The DT-12 loan, is secured by 12 office
properties located across Germany. The properties are fully let
to Deutsche Telekom (BBB+/Stable), although there is a high level
of vacancy and sub-letting. For five assets, the leases expired
in February 2015. Three assets (Mannheim, Nurenberg and Potsdam)
have been fully vacated and two have been partially vacated
(Kronshagen and Dusseldorf).
Since Fitch's last review, the cash trap mechanism allowed the
repayment of EUR4.9 million. As a result, the loan-to-value
ratio currently stands at 171.7% based on the February 2014
valuation of EUR90.7 million. Fitch understands that
negotiations are currently ongoing with several interested
parties. Closing the portfolio sale is critical for the
performance of the transaction prior to the legal final maturity
in July 2015.
Fitch's estimated 'Bsf' recovery amount is EUR76.2m.
RATING SENSITIVITIES
The approaching legal final maturity in July 2015 is likely to
trigger a further downgrade if the portfolio sale does not
materialize in the upcoming months.
Fitch will continue to monitor the performance of the
transaction.
=============
H U N G A R Y
=============
HEXIM: Fitch Affirms BB+ LT Issuer Default Rating; Outlook Stable
-----------------------------------------------------------------
Fitch Ratings has affirmed MFB Hungarian Development Bank Private
Limited Company's (MFB) and Hungarian Export Import Bank's
(Hexim) Long-term Issuer Default Ratings (IDR) at 'BB+' with
Stable Outlook.
Fitch does not assign a Viability Rating to these banks as their
business models are entirely dependent on the support from the
state.
The rating action follows a peer review of European development
banks.
KEY RATING DRIVERS
Both banks' IDRs are equalized with those of the Hungarian
sovereign (BB+/Stable), reflecting Fitch's view of a moderate
probability of state support for either bank, if required. The
agency believes that the government's propensity to support Hexim
and MFB is strong. However, its ability to provide support is
moderate, as reflected in the sovereign ratings.
Hexim and MFB are 100% state-owned banks, and shareholder rights
are exercised by the Minister in charge of the Ministry of
Foreign Affairs and Trade and the Minister of Prime Minister's
Office, respectively.
Fitch's view of support for both banks reflects their strategic
policy role to support Hungarian exports (Hexim) and domestic
economic growth (MFB), full state ownership and state guarantees
for their obligations. Fitch also takes into consideration each
bank's dedicated legal acts that govern their tasks, scope of
activities and relationship with the state.
In 2014 and 1Q15, Hexim continued to receive fresh capital from
the state, supporting its strategic lending growth plans. Both
banks received short-term bridge financing from the state in 2011
(MFB) and 2012 (Hexim).
The Eximbank Act sets out that the state will take ultimate
responsibility for Hexim's on- and off-balance-sheet liabilities
of up to HUF1,200 billion (about EUR4 billion) and HUF350
billion, respectively. MFB's repayment risk is covered by a
special statutory suretyship up to HUF1,800 billion (about EUR6
billion). Neither bank is allowed to raise debt above these
limits and is required to seek approval from the relevant
minister for all major borrowings. The limits for both banks are
defined each year in the central government budget act. The
combined limit of HUF3,350 billion represents a potentially
material, but manageable, contingent liability for the state,
which equals about 11% of forecast 2014 GDP. Fitch does not
expect either bank to fully utilize their guarantee limits over
the medium-term.
Both banks plan to source their guaranteed medium- and long-term
funding primarily from international markets. Under a EUR2
billion global medium-term note program (GMTN), Hexim has placed
two long-term bonds in US dollar (USD500 million each, maturing
in 2018 and 2020) and one in euro (EUR400 million, maturing in
2019). Since 2010 MFB has placed two international bonds: USD750
million (maturing in 2020) and EUR500 million (maturing in
May 2016).
RATING SENSITIVITIES
MFB's and Hexim's ratings are sensitive to changes to the
Hungarian sovereign ratings. Fitch believes that the state's
strong propensity to support both banks is unlikely to change in
the foreseeable future.
The rating actions are:
Hexim
Long-term IDR: affirmed at 'BB+'; Outlook Stable
Short-term IDR: affirmed at 'B'
Support Rating: affirmed at '3'
Support Rating Floor: affirmed at 'BB+'
Senior unsecured debt long-term rating: affirmed at 'BB+'
Senior unsecured debt short-term rating: affirmed at 'B'
MFB
Long-term IDR: affirmed at 'BB+'; Outlook Stable
Short-term IDR: affirmed at 'B'
Support Rating: affirmed at '3'
Support Rating Floor: affirmed at 'BB+'
Senior unsecured debt long-term rating: affirmed at 'BB+'
=============
I R E L A N D
=============
AWAS AVIATION: Moody's Alters Outlook to Stable; Affirms Ba3 CFR
----------------------------------------------------------------
Moody's Investors Service affirmed the Ba3 corporate family and
Ba2 senior secured ratings of AWAS Aviation Capital Limited and
revised the rating outlook to stable from positive. This follows
announcement by the company and its sponsors, Terra Firma and
Canada Pension Plan Investment Board, that AWAS will sell a
portfolio of 90 commercial aircraft to Macquarie Group for total
consideration of US$4 billion.
Moody's changed the rating outlook to stable from positive based
on expectations that AWAS' leverage will moderately increase over
the intermediate term as a result of distributions the company
makes to its owners. Additionally, AWAS' sale of aircraft
results in a shift in the company's fleet composition toward
older aircraft and twin-aisle aircraft, which increases the
firm's risk profile. Moody's affirmed AWAS' ratings to reflect
that the aircraft sale has only modest implications for the
company's franchise positioning in the commercial aircraft
leasing sector and its prospects for profitable operating
performance.
Moody's expects that AWAS' leverage will increase as a result of
the company's distribution to shareholders of net proceeds from
the aircraft sale and payment of dividends. The company's ratio
of debt to tangible net worth measured 2.3x at fiscal year ended
Nov. 30, 2014, lower than peer average, but will likely trend
toward 3x over the next few years. AWAS has historically
maintained low leverage through a growth phase fueled by the
purchase of a significant number of new aircraft from Airbus and
Boeing. But with fewer aircraft remaining in its order book,
Moody's expects that AWAS will manage to somewhat higher leverage
than its historical average, though within a range appropriate
for the assigned rating, given the company's fleet composition
and investment strategy.
The aircraft sale will result in a moderate increase in the risk
profile of AWAS' remaining fleet. The 90 aircraft being sold
represent about 29% of AWAS' existing fleet and include recent
vintage narrow-body aircraft (Airbus A320 and Boeing 737-800; 90%
by value) and twin-aisle aircraft (Airbus A330) with an average
age of two years. After the sale, AWAS' portfolio will become
somewhat more weighted toward older aircraft and wide-body
aircraft with likely lower average remaining lease term than the
aircraft being sold, which will increase the firm's exposure to
remarketing risks. AWAS' operating strategy continues to be
focused on acquiring aircraft primarily through sale-leaseback
transactions and purchases of used aircraft from other owners.
AWAS' ratings are supported by its stable and predictable
operating cash flows, solid competitive positioning, and
acceptable balance among its portfolio risk exposures
(geographic, aircraft type and model, and customer). Rating
constraints include AWAS' high reliance on secured funding, which
limits the company's operational and financial flexibility, as
well as uncertainty regarding the company's ultimate ownership.
AWAS's ratings could be upgraded if the company continues recent
strength in operating results, leverage (D/TNW) declines to 2.5x
or lower, it maintains balanced fleet composition and risk
characteristics, and effectively manages liquidity considering
its financing requirements and growth objectives. Further
funding diversification that materially reduces the reliance on
secured debt would also strengthen AWAS' prospects for a rating
upgrade.
Ratings could be downgraded if profitability materially declines,
leverage (D/TNW) increases to more than 3.5x given current fleet
risk characteristics, or if liquidity weakens.
AWAS Aviation Capital Limited, headquartered in Dublin, Ireland,
is a commercial aircraft leasing company.
The principal methodology used in these ratings was Finance
Company Global Rating Methodology published in March 2012.
IBRC: Liquidation May Lead to Paying Unsecured Creditors
--------------------------------------------------------
The Irish Times reports that the liquidation of IBRC has created
a surplus which is likely to be enough to pay off all the
unsecured creditors, an update to be published by the liquidators
shortly will reveal.
This is good news for the exchequer, as it means it will recoup
the EUR1.1 billion paid to depositors on foot of State
guarantees, according to Irish Times.
However, it also now looks certain that cash will be left to pay
off the EUR270 million owed to junior bondholders of the former
Anglo Irish Bank, who would receive their money back after
ordinary unsecured creditors are paid in full, the report notes.
Indications that this might happen first emerged in the middle of
last year, causing considerable controversy, the report
discloses.
A formal two-year review, due to be published shortly by IBRC
joint liquidators Kieran Wallace -- kieran.wallace@kpmg.ie -- and
Eamonn Richardson -- eamonn.richardson@kpmg.ie -- of KPMG, is
expected to indicate that significant excess cash was in place at
the end of last year, with further cash to be released as the
sell-off process of assets with a book value of EUR21.7 billion
is finished, the report says.
The liquidators have already repaid preferential creditors,
including EUR12.9 billion in debt repaid to Nama.
The update will show that, after this, substantial cash reserves
remain and will be added to when the final asset sales are
completed, the report relates. Around EUR1.6 billion would be
needed to pay off the main body of unsecured creditors, with
around 70 per cent of this owed to the State and it now looks
certain that this will be available, the report notes.
After that, the money owed to the junior bondholders would fall
due, the report says. These are bondholders who did not accept
a buy-out offer from the State in 2010, saying that the terms
were too punitive, an argument supported in one case by a London
High Court ruling, the report notes.
Any payout may be delayed for quite some period, however, as the
joint liquidators have to be sure that they have enough resources
to meet any legal claims. Among the ongoing cases is a major one
against the former Anglo by the family of Sean Quinn, the report
notes.
The Government may examine other legal mechanisms -- and is
likely to kick to touch in the short term by saying bondholders
have to file their claims and be verified -- but sources believe
the latter have a strong legal claim to be paid, the report
discloses.
If further funds are available after junior bondholders and all
other creditors and fees are paid, any surplus would go to the
State, as the former shareholders, the report adds.
MALLINCKRODT INTERNATIONAL: Moody's Reviews Ba3 CFR for Downgrade
-----------------------------------------------------------------
Moody's Investors Service placed the ratings of Mallinckrodt
International Finance SA under review for downgrade, including
the Ba3 Corporate Family Rating and the Ba3-PD Probability of
Default Rating.
This rating action follows the announcement that Mallinckrodt
will acquire Ikaria, Inc. for US$2.3 billion in cash. Moody's
also affirmed the Speculative Grade Liquidity Rating of SGL-1.
On Review for Downgrade:
-- Corporate Family Rating, Placed on Review for Downgrade,
currently Ba3
-- Probability of Default Rating, Placed on Review for
Downgrade, currently Ba3-PD
-- Senior Secured Bank Credit Facility, Placed on Review for
Downgrade, currently Ba2(LGD3)
-- Senior Unsecured Notes due 2022, Placed on Review for
Downgrade, currently B1(LGD4)
-- Senior Unsecured Notes due 2018, Placed on Review for
Downgrade, currently B2(LGD6)
-- Senior Unsecured Notes due 2023, Placed on Review for
Downgrade, currently B2(LGD6)
Affirmations:
-- Speculative Grade Liquidity Rating, Affirmed at SGL-1
Outlook Actions:
-- Changed To Rating Under Review From Stable
In its review, Moody's will consider the increase in leverage and
integration risk that comes relatively soon after two other large
acquisitions completed in 2014 -- that of Cadence and Questcor.
The review will also consider the potential for a weakening of
liquidity as part of the acquisition will be funded with cash on
hand and draw on Mallinckrodt's US$250 million revolver. Moody's
review will also consider the strategic benefits of the
acquisition of Ikaria, including improved scale and diversity and
a greater foothold with hospital customers.
Mallinckrodt's Ba3 Corporate Family Rating (under review for
downgrade) reflects its good balance between two business
segments (Specialty Pharmaceuticals and Global Medical Imaging)
but is constrained by its modest scale and relatively high
debt/EBITDA. Mallinckrodt has significant concentration in
Acthar Gel, an injectable product. Moody's expects Acthar to
represent over 25% of Mallinckrodt's revenue and approximately
one-half of EBITDA over the next 12 months. While near term
growth in Acthar should remain strong, the product is not
currently protected by any patents, and it is difficult to
predict the timing or impact of any generic competition. In
addition, as a low-volume, high-cost product, Acthar's revenues
would be sensitive to changes in reimbursement policies of
private or government payors. Other risks include reliance on a
sole supplier for finished product, an unresolved Department of
Justice investigation into Questcor's promotional practices for
Acthar, and recent attention around safety issues, including
patient deaths.
The principal methodology used in these ratings was Global
Pharmaceutical Industry published in December 2012. Other
methodologies used include Loss Given Default for Speculative-
Grade Non-Financial Companies in the U.S., Canada and EMEA
published in June 2009.
Luxembourg-based Mallinckrodt International Finance SA is a
subsidiary of Dublin, Ireland-based Mallinckrodt plc.
Mallinckrodt is a specialty pharmaceutical and medical imaging
company. Revenues for the 12 months ended Dec. 31, 2014 were
approximately US$2.5 billion.
=========
I T A L Y
=========
AUTOSTRADA BRESCIA: Fitch Rates EUR600MM Sr. Sec. Bond 'BB+(EXP)'
-----------------------------------------------------------------
Fitch Ratings has assigned Autostrada Brescia Verona Vicenza
Padova's (ABVP) EUR600 million senior secured bond an expected
rating of 'BB+ (EXP)'. The Outlook is Stable. The final rating
is contingent on the receipt of final documents conforming to
information already received.
The rating reflects the Italian toll road operator's fairly solid
asset profile that is offset by a fairly weak debt structure.
Traffic performances were better than Italian peers during the
recent economic downturn, due to ABVP's network location being in
one of the wealthiest and industrialized European regions. The
rating is, however, weighed down by ABVP's debt structure
comprising a single bond bullet maturity whose refinancing in
2020 relies on a new debt transaction largely based on terminal
value (TV) payment at concession maturity.
In Fitch's view, the TV mechanism is robust as TV payment is
contractually calculated on net book value, allowing ABVP to
recover realised investments. It will be paid by a new
concessionaire at concession maturity (2026) or, in case of
delays, by the grantor (Italian Ministry of Infrastructure) two
years later (2028). The concession handover is subject to TV
payment, which should mitigate the risk of delays in TV payment.
However, the TV scheme is unusual and substantially untested in
Italy, which may affect banks' appetite to refinance such
transaction structure. Despite a high breakeven interest rate at
refinancing (14% in Fitch base case), this uncertainty results in
a 'Weaker' assessment for Debt Structure Key Risk Factor and
weighs on ABVP's rating.
Fitch does not regard Grantor's obligation to pay the TV as
ranking at the same level of Italy's financial obligations but
this, at current Italy's rating level (BBB+/Stable), does not
represent a constraint for ABPV rating.
KEY RATING DRIVERS
Volume Risk - Midrange
ABVP operates a fairly small network (222km) that is
strategically located at the centre of A4 corridor linking the
west-east stretch of northern Italy. The concession has a
predominantly (73%) light vehicles traffic structure with a mixed
short/medium distance traffic profile supported by a wealthy and
industrialized catchment area.
Traffic was resilient throughout the 2008-2011 financial crisis
but experienced a shock in 2012 (6.4% vs. 7.2% nationwide) due to
a collapse of domestic consumption in response to austerity
measures. Traffic slightly contracted in 2013 (-0.98% vs -1.7%
Italy) before rebounding in 2014 (1.95%). The inherent
uncertainty of traffic related to the new Valdastico North
stretch is, in our view, not credit-material given the small
proportion of cash flow expected from this part of the network.
Under Fitch's rating case, traffic will moderately increase in
2015-2018 (0.5% on average) - mainly benefiting from the expected
opening of Valdastico South - and be subdued thereafter.
Downside risk mainly stems from a still evolving Italian economy
and its potential impact on traffic dynamics.
Price Risk - Midrange
The price mechanism allows a return on the asset base and
recovery of operating costs and depreciation of assets. Traffic
forecast (and weighted average cost of capital on regulatory
asset base) is agreed with the regulator every five years. In
this timeframe, ABVP assumes the traffic risk. Thereafter,
traffic forecast is re-agreed with the grantor and this mechanism
substantially insulates ABVP from volume risk. The tariff
mechanism is protective but the assessment of this key rating
factor is weighed down by the history of fairly low tariff
increases (0.5% in 2005-2009). Tariff hikes in 2014 and 2015
were lower than expected (1.44% and 1.5%) but the shortfall
should be recovered with the approval of an updated business plan
expected shortly. The current low inflationary environment also
weighs on short-term revenue performance.
Infrastructure Renewal - Midrange
ABVP faces an ambitious capex program (EUR2.3 billion included in
2014-2026 business plan), which will mechanically increase TV
payment at concession maturity. The key investment is Valdastico
North, a fairly complex greenfield project for which ABVP expects
to raise a senior secured construction loan in 2017. ABVP has a
long-standing experience in delivering investments on its network
(Valdastico South is 90% completed). The grantor's extensive
oversight both in the tender and execution phase of the
Valdastico North project mitigates the execution risk of the
capex plan. The infrastructure renewal attribute is assessed as
Midrange.
Debt Structure - Weaker
The rated bond is senior secured, bullet and fixed rate with most
of proceeds being applied to prepay existing bank debt. Caps on
distribution and lock-up covenants are protective features as are
the broad set of ring-fencing provisions included in the
concession agreement. The change of control clause does not
offer material protection as it does not prevent the ultimate
sponsor (Banca Intesa; BBB+/Stable) disposing of its (indirect)
controlling stake in ABVP.
The capital structure will further change over the next few years
as ABVP seeks to raise additional external funding to cover its
large investment plan. Future creditors will rank pari-passu and
share the security package with bondholders.
The rated bond is exposed to refinancing risk. ABVP, which had
hitherto tapped the capital market, will remain cash flow
negative (post interest payment) until 2024 (due to high capex
requirements) and therefore new lenders refinancing the bond in
2020 have to rely on the TV payment at concession maturity. A
delay in the receipt of the TV payment would mechanically delay
the reimbursement of that loan. Under this scenario, ABVP would
continue to run the concession, leaving lenders with a fair level
of protection and incentive to roll over their debt until TV is
paid. However, the uncertainty on banks' and the capital
market's appetite for financing such transaction structures
leaves bondholders exposed to refinancing risk and results in
weaker overall assessment of ABVP's debt structure.
Financial Metrics
Fitch rating case -- which incorporates conservative adjustments
on traffic, inflation, opex and capex -- results in a minimum
project life cover ratio (PLCR) of 1.11x and a robust (2.6x on
average) interest coverage ratio (ICR), which is a relevant
metric in this transaction as a large part of debt raised over
the concession period will be reimbursed through TV payment. The
ratios would have been higher (min. PLCR 1.27x) if Fitch had
given full credit to regulatory protections on pass-through costs
(which would be the case if cost overrun is not attributable to
concessionaire). The rating case also includes upward adjustment
on the cost (7.3%) of the bond refinancing facility as lenders
may, in our view, seek higher interest rates to account for
various uncertainties of the concession agreement, including the
timeliness of TV payment.
Under Fitch's rating case, the cost of the future construction
loan for the Valdastico North project is assumed at 5.6%.
Following meetings with various stakeholders including the
grantor we believe that an increase of funding costs that would
make the Valdastico project unviable is likely to result in a
rebalancing of ABVP concession's economics.
Sensitivity stresses on a variety of factors are robust, notably
for the potentially higher cost of the bond refinancing facility
(break-even interest rate 14% in base case, 12% in Fitch rating
case) or lower-than-expected inflation and traffic growth. A
delay of four years (to 2030) in TV payment would not materially
alter the credit profile of the transaction as the impact of debt
reduction from available free cash flow would be offset by a
lower final TV payment.
Specific Concession Features
An absence of approval of the Valdastico North project by June
2015 will generate uncertainty since the concession will then
require the parties involved (grantor and ABVP) to revise
accordingly the business plan and the concession itself. This
may lead to a shorter maturity or to an early concession
termination. In the case of early termination, however, ABVP will
continue to operate the concession until TV (EUR1 billion in
2014) is paid. The early termination of the concession in itself
would not trigger bond acceleration. Bond acceleration will only
be triggered by a loss of operational control of the network or
by concession amendments leading to a material reduction of
current TV. Fitch notes the grantor's strong support for the
Valdastico project so far, which is a positive sign in case of
delays in project approval.
Compared with other rated Italian peers, the discipline of
concession forfeiture (for concessionaire fault) is unusual as TV
would not be paid in a lump sum but in installments from the
early termination date to the original concession maturity date.
Peer Group
ABVP is not directly comparable to any peers. Its transaction
structure is fully based on TV payment at concession maturity
rather than the usual path of debt-funded capex and subsequent
debt repayment by free cash flow available before concession
maturity.
ABVP is significantly smaller than national/regional toll road
operators such as Atlantia (A-/Stable), Sias (BBB+/Stable),
Abertis (BBB+/Stable) and Brisa (BBB/Stable). Compared with its
Italian peers, ABVP performed slightly better during the economic
downturn. Its tariff system allows some protection on traffic
downside although the long-term history of tariff hikes shows
only modest increases in 2004-2009 and in 2014-2015. ABVP is an
experienced operator but its infrastructure renewal attribute is
assessed as midrange (versus stronger for almost all its EMEA
peers) because its investment plan mostly comprises greenfield
capex. ABVP's debt structure is bullet (like most of its peers)
but the high concentration of debt maturities, lack of experience
and name recognition in the capital markets and refinancing risk
related to the TV payment scheme lead to a weaker assessment of
the debt structure.
RATING SENSITIVITES
The rating would be downgraded in the event of adverse changes to
the concession framework and/or TV scheme. Sustained operational
underperformance or material cost overruns on the Valdastico
North project not being recognized in TV would be rating-
negative. Conversely, a substantial higher-than-expected level of
PLCR could be rating positive.
GRUPPO EDITORIALE: S&P Affirms Then Withdraws 'BB-' CCR
-------------------------------------------------------
Standard & Poor's Ratings Services said it has affirmed its 'BB-'
long-term corporate credit rating on Italy-based newspaper and
magazine publisher Gruppo Editoriale L'Espresso SpA (Gruppo
Espresso).
S&P subsequently withdrew the rating at the company's request.
The outlook was stable at the time of withdrawal.
The affirmation primarily reflects S&P's view that Gruppo
Espresso's operating performance and credit metrics, as adjusted
by Standard & Poor's, will likely remain stable or improve
slightly in 2015-2016.
After stabilization of EBITDA in 2014, S&P thinks Gruppo
Espresso's operating performance will strengthen moderately over
the next couple of years. S&P bases its view on its assumption
of softening decline in advertising in Italy, supported by S&P's
expectations of flat-to-modestly positive GDP growth. This,
coupled with a different product mix as Gruppo Espresso continues
its shift to digital from print, could enable the group to stop
the decline in its revenues. Its EBITDA margins could improve
further, though, owing to continued cost-optimization
initiatives.
"We also take into account the group's successful refinancing of
its October 2014 bond, through a mix of a convertible bond issue,
cash balances, and factoring/securitization (of which about EUR20
million was used at year-end 2014). The group's EUR100 million
convertible bond issued in April 2014 will mature in April 2019.
It constitutes the group's main on-balance sheet debt, providing
the group with a long-term capital structure and supporting our
view of Gruppo Espresso's "adequate" liquidity," S&P said.
Based on the above, S&P anticipates stable to slightly improving
credit metrics for Gruppo Espresso in 2015 and 2016, namely
Standard & Poor's adjusted debt to EBITDA in the 3x-4x range and
positive free cash flow generation.
At the time of withdrawal, the rating on Gruppo Espresso
reflected S&P's view of its business risk profile as "weak" and
its financial risk profile as "significant."
At the time of withdrawal, the stable outlook reflected S&P's
view that Gruppo Espresso would maintain credit metrics in line
with S&P's "significant" financial risk category, specifically
Standard & Poor's adjusted debt to EBITDA of 3x-4x and positive
free cash flow generation.
In S&P's rating on Gruppo Espresso, it do not take into
consideration any significant cash outflows coming from the
pending tax ruling in Italy. The timing and likely outcome of
the ruling were highly uncertain at the time of withdrawal.
WIND TELECOMUNICAZIONI: S&P Affirms 'BB-' CCR; Outlook Negative
---------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB-' long-term
corporate credit rating on Wind Telecomunicazioni SpA. The
outlook remains negative.
The affirmation primarily reflects Wind's improving liquidity
profile following the proposed refinancing of its current term
loans as well as its operating results for 2014, which were in
line with S&P's expectations. It's S&P's understanding that even
if the documentation for the proposed term loans is not fully
covenant free, there will be at least adequate headroom (more
than 15%) if there is a maintenance leverage covenant. By
contrast, under the current maintenance covenants, S&P had
forecasted very tight headroom. Furthermore, Wind's liquidity
benefits from the absence of meaningful debt maturities over the
next three years.
Wind's performance in 2014 was broadly in line with S&P's base
case, notably the revenue decline of 7% and the maintenance of
stable margins because of the company's continued focus on cost
reduction. Wind's mobile market share remained stable in 2014,
but S&P continues to think that the company could find it
challenging to maintain that low churn this year. This is
because of competitive pressures such as Telecom Italia's recent
announcement that it plans a sharp ramp-up in capex to accelerate
its deployment of next generation networks; S&P believes this
will enable Telecom Italia to better differentiate itself from
its domestic competitors, including Wind.
S&P's stand-alone assessment of Wind primarily reflects its
position as the third-largest mobile operator and second-largest
fixed-line operator in the Italian telecom market. Wind's
profitability is solid compared with European peers. Partly
offsetting these positive factors are:
-- The mature and intensely competitive Italian mobile
telephony market, with competition from significantly
larger and better-capitalized companies.
-- Wind's highly leveraged capital structure, with no medium-
term deleveraging prospects to less than 5x.
-- The company's relatively weak free operating cash flow
generation.
S&P's base case for Wind assumes:
-- A revenue decline of about 3% in 2015, as it anticipates
that data growth will largely offset the decline in voice
and SMS revenues.
-- As a result, S&P forecasts EBITDA margins falling slightly
to about 38% (translating to approximately 41% on an
adjusted basis), supported somewhat by tight operating
cost-control measures.
-- Wind will sell its cell towers for EUR693 million and rent
them from the new owner. This supports the company's
liquidity but is broadly neutral for margins and leverage.
-- Excess cash of about EUR193 million from the proposed
transaction, which S&P assumes Wind will use to prepay
debt.
-- A capex-to-sales ratio of 17%-18%, mainly reflecting
continued investments in increasing LTE coverage.
Based on these assumptions, S&P arrives at these credit measures:
-- Debt to EBITDA of 5.7x at year-end 2015;
-- FFO to debt of 10%
-- FOCF to debt of about 2% in 2015, increasing to more than
3% from 2016 onwards; and
-- EBITDA interest coverage increasing to about 2.8x in 2015.
S&P assess Wind's liquidity position as "adequate" under its
criteria. S&P forecasts that Wind's ratio of liquidity sources
to uses will meaningfully exceed 1.2x in 2015, mainly due to
limited debt amortization and a meaningful revolving credit
facility (RCF).
Under S&P's base-case scenario, it projects these sources of
liquidity over the 12 months beginning Dec. 31, 2014:
-- FFO of about EUR1 billion;
-- EUR203 million in cash;
-- A new EUR400 million undrawn committed RCF; and
-- Debt overfunding of about EUR193 million.
S&P projects these uses of liquidity over the same period:
-- Capex of about EUR800 million and
-- Annual debt maturities of EUR81 million in relation to a
long-term evolution spectrum-related liability to the
Italian government.
The negative outlook reflects the possibility that S&P could
lower the rating by one notch over the next 12 months as a result
of S&P lowering its SACP assessment to 'b' from 'b+'. This could
occur if Wind's business position were to weaken.
S&P currently assess Wind's business risk profile at the lower
end of the "satisfactory" range under S&P's criteria. Given
Wind's meaningful leverage and limited free cash flow generation,
S&P anticipates that a downward revision of its assessment of its
business would likely result in a lower SACP of 'b'.
However, S&P assess that Wind will likely remain a moderately
strategic subsidiary of VimpelCom Ltd. over the next 12 months.
In accordance with S&P's criteria, the corporate credit rating on
a "moderately strategic" subsidiary is one notch higher than its
SACP as long as the parent is rated at least two notches higher
than the SACP.
Based on Wind's stand-alone performance, S&P could lower the
rating if it continues to post meaningful revenue declines in the
mid-to-high-single digits and weaker profitability. For example,
S&P would likely lower the SACP if it sees that Wind's lack of
substantial 4G coverage or quad play offers causes its subscriber
churn rate to rise. S&P thinks that a lack of stabilization in
Wind's performance will be an indication of a declining
competitive advantage. S&P could also lower the rating if
continued operating pressures result in Wind's adjusted leverage
increasing to more than 6x.
S&P could revise the outlook to stable if there is meaningful
improvement in Wind's performance in 2015--notably price
stabilization in its mobile unit and maintenance of market share.
This would also require maintenance of adjusted EBITDA margins of
more than 40% and debt to EBITDA not meaningfully higher than
5.5x.
S&P might also consider revising the outlook to stable if it
reassess Wind as a "strategically important" subsidiary to
VimpelCom. This would require more evidence of integration or
implicit support between VimpelCom and Wind.
WIND TELECOMUNICAZIONI: Fitch Rates Proposed Sr. Secured Loan BB-
-----------------------------------------------------------------
Fitch Ratings has assigned Wind Telecomunicazioni SpA's proposed
senior secured loan an expected 'BB-(EXP)'/'RR2(EXP)' rating.
The proposed loan will effectively be a senior secured obligation
of Wind ranking pari passu with other senior secured debt. The
'BB-(EXP)'/'RR2(EXP)' expected rating reflects Fitch's
expectation of high recoveries for secured creditors.
The final rating is contingent upon the receipt of final
documents conforming to information already received.
The new term loan issue proceeds will be used for the repayment
of the EUR100 million drawn RCF and a partial repayment of the
existing EUR1.7 billion term loans. Following the repayment, the
old EUR600m RCF will be replaced with the new EUR400 million
facility. Fitch understands that the remaining part of the
existing term loans will likely be refinanced with the proceeds
from the announced tower sale (EUR693 million) and new debt
instruments.
On a standalone basis, Wind's rating corresponds to 'B'/Stable.
Wind's Issuer Default Rating is lifted by one notch to 'B+' for
potential parental support. Wind is the number-three mobile
operator in Italy with a subscriber market share of approximately
25% and the second-largest alternative fixed-line/broadband
provider with a subscriber market share of approximately 16% at
end-2014. Its leverage is high, reported at 5.9x net debt/EBITDA
at end-2014.
KEY RATING DRIVERS
Challenging Operating Environment
The Italian mobile market continues to contract in revenue terms.
However, there are signs that the pricing war may be over. Key
operators expect less direct tariff competition, with network
quality issues coming to the fore. Wind demonstrates strong
relative outperformance slowly increasing its subscriber market
share, but this is not sufficient to protect it from absolute
revenue and EBITDA declines. The weak economic environment in
Italy continues to weigh on customer sentiment.
Stable Fixed-Line
Wind has significantly improved profitability in its fixed-line
segment which we believe should be sustainable with continuing
focus on more profitable direct customers. Fibre roll-out in
Italy is likely to be slow, protecting Wind's position as the
largest alternative fixed-line operator in Italy.
High Leverage
Wind's leverage is high, reported at 5.9x net debt/EBITDA at end-
2014. Fitch estimates that the impact of the tower sale on
leverage will be marginally positive as the reduction in net debt
on the back of cash proceeds will be muted by increased rent
expense, which Fitch capitalizes at a multiple of 8 and adds to
the total debt for funds from operations (FFO) adjusted net
leverage calculation. The refinancing would improve the
company's maturity profile and lead to interest savings.
Deleveraging is likely to be slow. At above 5.5x net
debt/EBITDA, Wind's leverage is sensitive to even minor EBITDA
pressures. Fitch expects the company's free cash flow (FCF) to
remain positive in the medium term but modest in absolute terms
on average with less than EUR250 million per year available for
debt reduction in 2015-2017.
Shareholder Support Positive but Limited
Wind's ratings benefit from potential support from its sole
ultimate shareholder, Vimpelcom Ltd., whose credit profile
remains significantly stronger than Wind's. However, Fitch
believes that a further rise in Wind's leverage may diminish
Vimpelcom's propensity to provide support. An increase in
leverage to above 6x net debt/EBITDA will no longer likely be
consistent with expectations of any parental support.
Vimpelcom's support has been modest so far. A EUR500 milion cash
contribution in conjunction with PIK-notes refinancing in 1H14
was insufficient to materially reduce Wind's leverage, given its
limited size relative to Wind's total debt of approximately EUR10
billion. Vimpelcom has not committed itself to any additional
support.
No Short-Term Refinancing Risks
Wind does not face any material refinancing risks before 2019
when the bulk of its debt comes due. Post-refinancing, the
maturity profile is expected to improve.
KEY ASSUMPTIONS
-- Continuing modest revenue declines tempering from mid-
single digit territory in 2015 to low-single digits
afterwards.
-- EBITDA margin stabilizing at above 37%.
-- Interest rate savings on the back of refinancing in 2014.
-- Substantial on-going network investments with capex to
revenue ratio of above 15% in the medium-term.
-- No common dividends.
-- No equity injection from the parent.
RATING SENSITIVITIES
Negative: Future developments that may individually or
collectively lead to negative rating action include:
-- A deterioration in leverage beyond 6x net debt /EBITDA
and/or FFO adjusted net leverage sustainably above 6.5x.
-- Continuing operating and financial pressures leading to
negative FCF generation.
Positive: Future developments that may individually or
collectively lead to positive rating action include:
-- Tangible parental support such as equity contribution or
debt refinancing via intercompany loans leading to a
material reduction in Wind's leverage.
-- Net debt/EBITDA sustainably below 5.5x and FFO adjusted net
leverage sustainably below 6x.
-- Stabilization of operating and financial performance
resulting in stronger and less volatile FCF generation.
===================
K A Z A K H S T A N
===================
EURASIAN RESOURCES: Moody's Affirms 'B3' CFR; Outlook Negative
--------------------------------------------------------------
Moody's Investors Service affirmed the B3 corporate family rating
and the B3-PD probability of default rating of Eurasian Resources
Group Sarl, all with negative outlook. The rating agency has
also decided to change the assessment of the key factors behind
the CFR, as defined according to the Government-Related Issuer
rating methodology, which Moody's applies to ERG, given the
Government of Kazakhstan (Baa2 positive) is a main shareholder
with a 40% stake.
In particular, Moody's has lowered the Baseline Credit Assessment
('BCA') of ERG to caa1, from b3 previously, and concurrently has
changed the assumption of Default Dependence, now considered as
'High' instead of 'Very High', and of Government Support, now
considered as 'Moderate' instead of 'Low'. The new assumption of
government support provides a one-notch uplift on the lowered
BCA, which reflects the company's stand alone credit quality.
The lowering of the BCA to caa1 reflects the deteriorated
fundamental credit profile of ERG, due to its increased financial
and liquidity risks, which the rating agency considers are not
sufficiently mitigated by the company on a stand-alone basis.
The BCA is now positioned at caa1 to reflect ERG's (i) weak
credit metrics, which the rating agency anticipates will weaken
further, also due to a much weaker commodity price environment,
as reflected by Moody's recently lowered price assumptions on key
commodities mined by the company, namely iron ore (base level
assumption for 2015 is $70/t) and copper (base level is $3/lb);
(ii) rising leverage, towards 5x, as a result of lower EBITDA and
gross debt, as adjusted by Moody's, expected to remain high at
approximately $8bn; iii) insignificant deleveraging prospects
over the next several quarters, as the large asset disposal plan
attempted so far by management looks extremely difficult to
execute, while Moody's considers as more likely a scenario in
which the company will only complete minor disposals, whose cash
proceeds will not be sufficient to reduce meaningfully the level
of debt of the company; and (iv) persistently weak liquidity,
with high refinancing risk faced by the company in the next 24
months, when approximately $4.4bn of debt become due for
repayment, including the $1.67bn facility due in June 2016, which
was borrowed by ERG for the buyout and subsequent delisting of
ENRC Plc in 2013.
Moody's maintains its expectation that the two key Russian
relationship banks of the company, Bank VTB JSC (Ba2 negative)
and Sberbank (Ba2 negative), which are providing most of the debt
facilities, will continue to support ERG as they have done so
far, even in the recent past. Moody's expects that these lenders
would continue to accommodate reasonable waiver requests, which
the rating agency believes ERG may need to consider again in the
future, especially with reference to its compliance to the
financial covenants testing on its 2015 accounts. The rating
agency considers a breach of the financial covenants on the
various facilities as likely, given that the credit ratios of the
company may deteriorate further, while the financial covenants
set by the lenders in the executed loan documents become
constrained. The main concern on liquidity, however, is driven
by the challenging debt maturity profile of the company,
especially in 2016, and its increasingly high refinancing risk,
also considering the possibility that the two main Russian
lenders to the company may need to take a less supportive
approach at some point in the future. This is a possible and
material risk for ERG, given its high reliance on the two Russian
lenders, and the increasingly weaker position of both lenders -
and of Russian lenders in general, as several banks in Russia
have been recently downgraded following the downgrade of the
Russian government bonds rating to Ba1/negative on Feb. 20, 2015.
At the same time, ERG continues to find it problematic to
diversify its funding sources away from its core Russian -- and
Kazakh -- lenders. As a result of the ongoing investigation by
the UK Serious Fraud Office (SFO) into deals made by the
predecessor group ENRC Plc in Africa, ERG has been unable to
access the international capital markets, and consequently the
company has further increased its exposure to its core Russian
lenders. This exposure has more recently become a major source
of risk and vulnerability for the company.
The BCA continues to reflect, as supporting credit
considerations, the strengths associated to ERG's business
profile, and namely (i) good access to high-grade and long-
reserve-life mining assets in Kazakhstan; (ii) a competitive cost
structure as a result of high-quality mines and efficient
processing plants; (iii) high operational and commodity
diversity, with several operating mines and processing facilities
in Kazakhstan and, to a lower extent, in Russia and the
Democratic Republic of Congo (DRC), and (iv) important market
shares in the EMEA region for ferrochrome, iron ore and
aluminium.
Furthermore, given the strategic relevance of the company to the
Kazakh economy, which is a major mining group and large employer,
and considering the involvement of the government in the
direction and management of the company, with two out of five
Board members directly appointed by the government, Moody's
considers that the probability of financial support that the
government would provide to ERG, in case of need, would be more
appropriately captured by an assessment of 'moderate'. Even if
the government has never formally or publicly committed to any
sort of explicit or verbal guarantee or financial support for
ERG, Moody's understands that, if the company were to be forced
to ask for financial support from its shareholders, the process
to obtain it in a timely manner is already clearly described in
the shareholder agreement of ERG Sarl, which has been signed by
all shareholders, ie the three founding shareholders, owning in
aggregate a 60% stake, and the Kazakh government as the single
largest shareholder with a 40% stake. This is an important
factual element for Moody's assumption of moderate government
support, and associated affirmation of the CFR at B3, by applying
a one notch uplift to the lowered BCA.
The negative outlook reflects Moody's expectation that ERG's
liquidity position will remain exposed to material downside risks
associated with a challenging debt maturity profile, a likely
breach of financial covenants requiring waivers from lenders, as
well as the possibility of reduced support from the two Russian
lenders. The extent of such support, in turn, is a function of
broader systemic developments within the Russian banking system,
which are currently difficult to predict. The negative outlook
also factors in the possibility of a negative outcome of the
still ongoing SFO investigation, which may result in fines and
penalties and make it even more difficult for the company to
access the credit markets in the future.
Although unlikely in the near term, Moody's could consider a
stabilization of the outlook upon any major development that
would lead to an improvement in the company's currently weak
financial and liquidity profile. Positive pressure, albeit
unlikely in the near term, could build over time if ERG were able
to improve its liquidity position with an overall assessment of
'adequate', and show some sustainable improvements in key credit
metrics, namely the gross debt/EBITDA ratio, on a Moody's
adjusted basis, falling below 4x on a sustained basis, the
interest cover ratio (EBIT/Interest) increasing above 2.5x, and
free cash flow/gross debt turning positive. Further positive
rating pressure could be considered if Moody's had reason to
reassess the assumptions relating to the degree of support from
and dependence on the Kazakh government, based on new elements.
Such assumptions are relevant, given that ERG's CFR reflects the
application of Moody's rating methodology for government-related
issuers.
Moody's would consider downgrading ERG's ratings in case of
further weakening of the BCA. This could occur in a scenario
where the company's liquidity deteriorates further, if Moody's
believes the company is unlikely to continue to get support from
its lenders to reschedule or refinance its forthcoming debt
maturities, and/or to obtain a waiver for a breach of financial
covenants. Furthermore, a material deterioration in main credit
metrics could also exert negative rating pressure. Such a
deterioration would be reflected into a gross debt/EBITDA ratio
exceeding 5.5x on a Moody's adjusted basis, and an interest cover
ratio falling below 1x. Furthermore, a negative outcome of the
ongoing SFO investigation, resulting in material fines and
penalties and high reputational damage would also exert negative
pressure on the rating.
The principal methodology used in these ratings was Global Mining
Industry published in August 2014. Other methodologies used
include Government-Related Issuers methodology published in
October 2014.
ERG is a vertically integrated mining company with main operating
assets in Kazakhstan, and a number of early-stage development
assets in Brazil and Africa. The company is primarily focused on
the production of ferroalloys, iron ore and aluminium products.
ERG is also the world's-largest ferrochrome producer (by chrome
content) and one of the leading global exporters of iron ore. In
2013, ERG reported revenues of US$6.43 billion and an adjusted
EBITDA of US$1.88 billion. ERG Sarl is 40% owned by the Kazakh
government and accordingly falls within the scope of Moody's
rating methodology for Government Related Issuers (GRI). ERG
indirectly owns 99.8% of ENRC Limited via Eurasian Resources
Group BV (ERG BV), an intermediate holding company and borrower
of the bank facilities used to acquire ENRC Limited last year.
===================
L U X E M B O U R G
===================
AGEASFINLUX SA: Moody's Affirms 'Ba3(hyb)' Jr. Sub. Debt Rating
---------------------------------------------------------------
Moody's Investors Service affirmed the Baa3 issuer rating of
Ageas SA/NV and the ratings on guaranteed securities issued by
Ageas Hybrid Financing and Ageasfinlux S.A., and maintained a
negative outlook on these ratings. At the same time, Moody's
affirmed the A2 insurance financial strength rating (IFSR) of AG
Insurance with a stable outlook.
Moody's says that affirmation of the Baa3 long-term issuer rating
of Ageas SA/NV continues to reflect the combined financial
strength and dividend capacity of the Group's operating insurance
companies, the subordination of the holding company creditors,
and the currently sound financial situation of the holding
company, with a cash position of around EUR1.6 billion as at Dec.
31, 2014. The investment grade rating reflects Moody's
expectation that the Group will be able to meet all its senior
financial obligations in the near term.
Ageas SA/NV is the holding company of the Ageas Group, whose main
assets are (i) 75% of AG Insurance, (ii) Ageas UK, a British non-
life insurer, (iii) insurance activities in Continental Europe,
among which most notably 51% of Millennium BCP Ageas in Portugal,
and (iv) insurance activities in Asia, which are non-controlled
and jointly operated with local banking operators, except for
Ageas Insurance Company Asia in Hong Kong which is 100% owned.
The negative outlook continues to reflect the uncertainty over
the resolution of various legal risks inherited from the break-up
of the previous Fortis Group. These legal risks might have a
material financial impact and, in adverse scenarios, deplete the
holding company's resources. Several legal actions have been
initiated by shareholders in Belgium and the Netherlands claiming
for monetary damages after the dismantling of the Fortis Group.
The potential financial impact of these claims could be
potentially very high if the claims lead to a court judgment in
favor of the shareholders.
More recently, in July 2014, the Court of Appeal in Amsterdam
ruled that the previous Fortis provided misleading and incomplete
information during the period of September 29 through October 1
2008. As a result, the Court decided that Ageas should indemnify
the damages suffered by the shareholders concerned. Based on the
assessment of the terms of the Court's decision, Ageas recognized
a provision of EUR130 million in July 2014, although the ultimate
cost remains highly uncertain and no damages have been
established to date in current proceedings. The impact of the
provision on Solvency level was a reduction by 3% points (group
solvency was 210% as at YE2014). In October 2014 Ageas filed an
appeal against the Court's decision with the Dutch Supreme Court.
Moody's does not expect to resolve this negative outlook before
having more clarity on the probable financial impact of the legal
proceedings. As legal proceedings initiated against the Ageas
Group may take a long time to conclude, Moody's may maintain the
negative outlook on the ratings for a longer period than the
typical twelve to eighteen months.
Financing Vehicles:
Moody's said that the affirmations of Ageas Finance N.V., Ageas
Hybrid Financing and Ageasfinlux S.A. ratings fully reflect the
guarantees received by these financing vehicles from the Group's
holding company and therefore follows the rating action on Ageas
SA/NV.
The hybrid debt issued by Ageas Hybrid Financing, Hybrone, has
been on-lent to AG Insurance, and is therefore economically
matched by a loan to this operating entity. The debt is also
backed by Ageas SA/NV.
The FRESH securities, perpetual and mandatory convertible debt,
were issued by Ageasfinlux with Ageas SA/NV acting as co-obligor.
For more information on the ratings of these hybrid securities,
please refer to Moody's Credit Opinion.
AG Insurance:
Moody's says that the affirmation of AG Insurance's A2 IFSR with
a stable outlook reflect the company's ability to maintain a
leading market position in Belgium and relatively stable
operating performance.
In the life segment, the operating result was fairly stable year
on year at EUR431 million in 2014 (vs. EUR433 million in 2013).
Moody's expects AG Insurance to be able to cope with the low
interest rate environment thanks to (1) discipline in providing
guarantees, as evidenced by the decrease in guarantees on the
group life insurance segment, (2) reduced returns to
policyholders on policies including profit-sharing mechanisms and
(3) improved asset liability management, with notably a low
duration gap (0.06 year as at November 2014) limiting the
reinvestment risk. In Non life, the operating result declined
from EUR108 million to EUR89 million, impacted by the cost of
claims associated with the adverse climate related events
(hailstorms) of June and deteriorating results in Third-Party
Liability. The combined ratio was 101.2% in 2014 (vs. 99.9% in
2013).
What could change the ratings up/down:
Ageas SA/NV:
Commenting on what could change the ratings of Ageas SA/NV down,
Moody's mentioned: (i) Negative outcome of the legal disputes,
which could, in adverse scenarios, significantly affect the
financial resources of the holding companies (ii) A deterioration
of the financial strength of the operating companies, principally
evidenced by a downgrade of the A2 insurance financial strength
rating of AG Insurance
Conversely, positive pressure could be exerted on the rating in
the event of a favorable resolution of outstanding legal disputes
and a material improvement of the financial strength of the
operating companies, notably through an upgrade of the A2 IFSR of
AG Insurance
AG Insurance:
Commenting on what could change AG Insurance's rating down,
Moody's mentioned (i) a deterioration in profitability with a
normalized return on capital of below 4%; (ii) a significant
deterioration in capitalization; or (iii) deterioration in
financial leverage metrics beyond Moody's expectations for A-
rated insurers
Conversely, positive pressure could be exerted on the rating in
the event of a material improvement in profitability, with a
normalized return on capital above 8%, and a significant
improvement in capitalization and financial flexibility.
The following ratings have been affirmed with a negative outlook:
-- Ageas SA/NV - long term issuer rating at Baa3;
-- Ageas Hybrid Financing - backed junior subordinated debt
rating at Ba2 (hyb);
-- Ageasfinlux S.A. - backed junior subordinated debt rating at
Ba3 (hyb).
The following rating has been affirmed with a stable outlook:
-- AG Insurance - insurance financial strength rating at A2.
The methodologies used in these ratings were Global Life Insurers
published in August 2014 and Global Property and Casualty
Insurers published in August 2014.
ALTICE-NUMERICABLE: S&P Affirms 'B+' CCR; Outlook Negative
----------------------------------------------------------
Standard & Poor's Ratings Services affirmed the 'B+' corporate
credit ratings on cable and telecommunications holding companies
Altice S.A. and Numericable-SFR S.A. The outlook is negative.
The affirmation follows the Altice group's announcement that it
has entered into a final agreement with Vivendi to acquire the
20% stake Vivendi owns in French telecoms company Numericable-
SFR, for a price of 40 euros per share. S&P understands that
Altice S.A. has secured the initial funding for this transaction
through a bank guarantee, but has also underwritten equity for
the acquisition of a 10% stake, which it could potentially use to
fund the cash proceeds due in April 2016. Altice S.A. is a pure
holding company whose main assets are its stake in Numericable-
SFR and 100% ownership of Altice International, which owns non-
French assets. S&P considers both subsidiaries to be "core"
group entities under its group rating methodology.
At Numericable-SFR's level, the planned share buyback will be
funded through a combination of drawings on its revolving credit
facility and cash on its balance sheet. S&P expects this
transaction to be broadly neutral to Numericable-SFR's credit
metrics, and S&P continues to view its stand-alone credit profile
as 'bb'. This is because EUR750 million of earnout to Vivendi,
which S&P previously included in our debt adjustments, will be
cancelled as part of this transaction; and because S&P previously
assumed that most of Numericable-SFR's excess cash would be
upstreamed as dividends to its shareholders. S&P forecasts that
Standard & Poor's-adjusted debt to EBITDA in 2015 at
Numericable-SFR will be slightly above 4x -- meaningfully lower
than the consolidated group leverage.
S&P thinks that the current transaction reaffirms its view of
Numericable-SFR as a "core" entity for the Altice group under
S&P's group rating methodology, including its view of the
potential risk that Altice S.A. will push down its debt to
Numericable-SFR in the future. Because it is a "core" group
entity, S&P aligns the rating on Numericable-SFR with the 'b+'
group credit profile, two notches below its SACP.
At the consolidated group level, S&P expects the transaction to
be broadly neutral to 2015 credit metrics if the 10% stake is
debt-funded, and somewhat positive if it is equity-funded. This
reflects S&P's full consolidation (rather than proportionate, as
previously) of Numericable-SFR's results, and Numericable-SFR's
relatively lower leverage. S&P currently adjusts Altice's debt
for the EUR1.948 billion bank guarantee for their increased stake
in Numericable, in line with S&P's criteria.
S&P's base-case operating scenario for Altice's pro forma
consolidation of SFR and Portugal Telecom (whose shareholders
approved the acquisition by Altice in January) assumes:
-- Revenue decline of 2% in 2015, resulting mainly from the
continued impact of repricing in SFR's mobile division and
fierce competition on triple and quadruple play bundles in
Portugal;
-- About 1% decline in group EBITDA in 2015 on a pro forma
basis following the transactions mitigated by the positive
impact of merger-related synergies; and
-- Capital expenditure (capex) at about 16% of sales.
Based on these assumptions, S&P arrives at these credit measures:
-- Funds from operations (FFO) to debt of 11% at Altice S.A.
and 12%-13% at Altice International;
-- Pro forma debt to EBITDA of about 5.9x for 2015 at Altice
S.A. (5.5x if the transaction proceeds at Altice S.A. are
equity-funded);
-- Adjusted interest coverage of about 3.0x; and
-- Adjusted free operating cash flow (FOCF) to debt of 3%-4%
at Altice S.A. in 2015.
The negative outlook continues to reflect the potential for a
one-notch downgrade if the group's leverage exceeds 6x as a
result of higher-than-expected earnings pressures, combined with
challenges in creating meaningful merger-related synergies at
SFR.
The negative outlook also reflects, to some extent, the risk that
the consolidated audited group accounts will include additional
adjustments or costs that could negatively affect Altice's credit
metrics, which have relatively limited headroom at the current
rating level.
S&P may downgrade the group if leverage (taking into account
full-year consolidation of SFR and Portugal Telecom, and
proportionate consolidation of Numericable-SFR) exceeds 6x, or if
FOCF to debt erodes toward 2.5%. This may happen, for example,
if Altice doesn't manage to significantly stem SFR's EBITDA
decline over the next few quarters, or if integration costs rise
well above S&P's current assumptions.
S&P could revise the outlook to stable over the next 12 months if
Altice's leverage and cash flow remain at about 5.5x following
the successful execution of cost efficiencies and a slowdown in
the topline revenue decline in its core assets.
S&P may also revise the outlook to stable if the acquisition of
Altice's additional stake in Numericable-SFR is funded with
equity, providing a much bigger cushion under the current rating.
=====================
N E T H E R L A N D S
=====================
REFRESCO GERBER: S&P Puts 'B+' CCR on CreditWatch Positive
----------------------------------------------------------
Standard & Poor's Ratings Services said that it placed its
ratings on Refresco Gerber BV, including the 'B+' long-term
corporate credit and issue ratings, on CreditWatch with positive
implications.
The CreditWatch placement follows Refresco Gerber's announcement
on March 3, 2015 that it intends to launch an IPO on Euronext
Amsterdam, and that after completion of the envisaged offering
the group anticipates a leverage ratio of up to 2.5x, defined by
Refresco Gerber as net debt divided by adjusted EBITDA. If this
is supported by management's financial policies and S&P assess it
as sustainable over time, S&P believes this transaction could
strengthen Refresco Gerber's financial risk profile and may
result in a higher corporate credit rating.
S&P could reassess the financial risk profile as "aggressive", if
S&P perceives that the risk of increasing leverage is low,
underpinned by management's financial policies. The combination
of a "fair" business risk profile and "aggressive" financial risk
profile could result in a rating of 'BB-', all else being equal.
In addition to the assessment of Refresco Gerber's financial
policies, S&P would consider the ownership structure. If S&P was
to assess that the generation of free cash flow, adjusted
leverage, interest cover ratios, and liquidity were comfortably
commensurate with a "significant" financial risk profile, and S&P
assess that the financial sponsors would relinquish control over
the intermediate term, S&P could assess the financial risk
profile as significant", which could result in a rating of 'BB'.
S&P sees no change in the business risk profile, which it
continues to assess as "fair". This reflects S&P's view of its
high exposure to volatile commodity-based raw material prices;
limited pricing flexibility due to its focus on private label
products; and its geographic concentration in mature Western
European markets. These weaknesses are mitigated by the group's
leading position in the European private-label juice and soft
drinks market, its large scale of operations, and its good growth
prospects in certain product categories.
S&P intends to resolve the CreditWatch placement following the
completion of Refresco Gerber's intended IPO, which S&P
understands will take place in the near future. S&P will assess
the impact of any debt reduction on the financial risk profile
and the potential change in the ownership structure, as
appropriate, and meet with management in order to gain a better
understanding of the group's financial policies and risk
appetite. If Refresco Gerber does not complete the intended IPO,
S&P could still reassess the financial risk profile, the outcome
of which would depend on financial policies and the owners' and
management's risk appetite and the likelihood that the group
could increase leverage to support its growth ambitions.
TRONOX PIGMENTS: Moody's Cuts Secured Bank Facility Rating to Ba3
-----------------------------------------------------------------
Moody's Investors Service downgraded the Corporate Family Rating
of Tronox Limited to B1 from Ba3. In addition, Moody's
downgraded the senior secured bank facility rating of Tronox
Pigments (Netherlands) B.V. to Ba3 from Ba2 and the senior
unsecured ratings of Tronox Finance LLC to B3 from B2. The
Speculative Grade Liquidity Rating is lowered to SGL-2 from
SGL-1. The outlook is stable. These actions reflect the step up
in leverage resulting from the pending acquisition of FMC's soda
ash business, and Moody's view that the company's existing
titanium dioxide (TiO2) pigment and ore businesses are unlikely
to exhibit sufficient cyclical recovery in the near term to
facilitate adequate improvement in credit metrics to support the
Ba3 ratings. The economic incentives to make additional
acquisitions, so as to utilize more of its substantial tax NOLs,
also add a level of uncertainty to the company's future credit
profile.
"The acquisition of FMC's soda ash business adds a stable and
well positioned business to Tronox's profile. However, the
acquisition stresses leverage and cash flow metrics and comes at
a time when the TiO2 industry is experiencing trough conditions
and the timing for recovery is currently unclear." stated Joseph
Princiotta, Senior Analyst at Moody's.
Downgrades:
Issuer: Tronox Finance LLC
-- Senior Unsecured Regular Bond/Debenture Aug 15, 2020,
Downgraded to B3 (LGD5) from B2 (LGD5)
Issuer: Tronox Limited
-- Probability of Default Rating, Downgraded to B1-PD from
Ba3-PD
-- Speculative Grade Liquidity Rating, Downgraded to SGL-2 from
SGL-1
-- Corporate Family Rating, Downgraded to B1 from Ba3
Issuer: Tronox Pigments (Netherlands) B.V.
-- Senior Secured Bank Credit Facility Mar 19, 2020, Downgraded
to Ba3 (LGD3) from Ba2 (LGD3)
Outlook Actions:
Issuer: Tronox Finance LLC
-- Outlook, Changed To Stable From Rating Under Review
Issuer: Tronox Limited
-- Outlook, Changed To Stable From Rating Under Review
Issuer: Tronox Pigments (Netherlands) B.V.
-- Outlook, Changed To Stable From Rating Under Review
Tronox's B1 Corporate Family Rating is supported by its position
as the fifth largest global TiO2 producer, geographically diverse
production assets, long standing customer relationships,
economies of scale at its Hamilton plant, favorable positioning
among the lowest cost producers, access to its own chloride
process technology, and back integration into titanium ore
feedstocks. The ratings are also supported by the addition of
FMC's stable and well positioned soda ash business. The ratings
are constrained by the stressed metrics and limited free cash
flow following the alkali acquisition, cyclicality in the TiO2
industry, which is currently in a trough, volatile operating
performance and a narrow product profile. Moody's expects pro
forma leverage to increase to 5.7x following the acquisition
(including Moody's standard adjustments).
Moody's notes the pending acquisition of FMC's soda ash business
(Alkali Chemicals) has received regulatory approvals and is
expected to close in the near term.
Alkali Chemicals is an attractive high margin business with
relatively stable earnings and cash flow, in an industry with few
players, and benefits from long term contracts with customers.
Alkali Chemicals has a 25% market share of the advantaged
'natural' process that makes soda ash in North America from mined
trona ore. End markets, however, are mature as roughly half of
soda ash goes into making flat and packaged glass products.
While the soda ash business does not provide a direct fit with,
or allow for meaningful synergies with Tronox's current TiO2
pigment and ore mining asset base, the competencies of running
another integrated mining and process operation should be
similar. The company expects synergies from transportation,
procurement and tax savings to approximate $30 million by the end
of year one and at least $60 million after three years, Moody's
noted.
Moody's recognizes the strong tax-driven economic incentives for
the company to expand profits through acquisitions. However, the
Alkali Chemicals acquisition, which is essentially 100% debt
financed, comes at a time when Tronox's core TiO2 business is
experiencing trough industry conditions and the timing for
recovery is currently unclear. Moreover, these tax-driven
incentives raise the likelihood the company makes additional
acquisitions before the cycle exhibits adequate recovery.
Commenting on the TiO2 outlook and prospects for a cyclical
recovery, Moody's noted the global operating TiO2 rates are still
depressed and it could take awhile for supply and demand to
achieve better balance. On a positive note, growth in new
industry TiO2 capacity is limited and there has been some
rationalization, albeit mostly in Europe and Asia. Assuming
historical rates of demand growth continue going forward, it
might take at least a couple of years before excess volumes are
absorbed and demand catches up with supply, according to Moody's.
Another potential hurdle for the recovery in this market is the
start up of 200,000 tonnes of incremental chloride TiO2 capacity
in mid 2016 by DuPont (business will be spun-off into an
independent company, Chemours, in 2015).
The company currently has good liquidity with pro forma cash
balances expected to be US$233 million at closing and maintains a
revolving credit facility due 2017, which has been increased to
US$500 million from US$300 million. The company also maintains a
ZAR900 million (approximately US$118 million) revolving credit
facility due June 2017 for use by its South African operations.
The outlook on the B1 Corporate Family Rating is stable. Moody's
would consider raising the rating if debt/EBITDA moves closer to
4x, retained cash flow to debt were to improve to at least 12%,
all expected to be on a sustained basis. Moody's would consider
lowering the rating further if industry conditions are such that
the company's free cash flow turns negative for multiple quarters
before any meaningful deleveraging has occurred.
The principal methodology used in these ratings was Global
Chemical Industry Rating Methodology published in December 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.
VIMPELCOM LTD: Moody's Says Debt Buyback Offer is Credit Positive
-----------------------------------------------------------------
Moody's Investors Service said that VimpelCom Ltd's (Ba3 on
review for downgrade) tender offer to repurchase up to US$2.1
billion of its outstanding Eurobonds is credit positive. The
debt reduction will support VimpelCom Holdings B.V.'s financial
metrics, which will be affected by deteriorated operating
environment and severe domestic currency depreciation in Russia,
which is one of the VimpelCom group's core markets.
On March 2, 2015, VimpelCom Amsterdam B.V. which is a wholly
owned subsidiary of VimpelCom Ltd announced a cash tender offer
for certain outstanding US dollar-denominated Eurobonds issued by
VimpelCom Holdings B.V., UBS (Luxembourg) S.A. and VIP Finance
Ireland Limited, and guaranteed by VimpelCom's Russian
subsidiary, Vimpel-Communications OJSC. The offer expires on
March 30, 2015. It includes three Eurobond issues which will be
repurchased at a premium if tendered before a specific time on 13
March 2015.
Moody's primarily bases its assessment of VimpelCom's business
and financial profile on VimpelCom Holdings B.V. because it
consolidates VimpelCom's businesses in Russia and Ukraine, which
underpin the VimpelCom group's ability to service its debt
obligations through cash distributions from those entities.
Moody's estimates that VimpelCom Holdings B.V.'s Moody's-adjusted
debt/EBITDA would grow above 3.2x by year-end 2015 from 2.8x as
of September 2014, assuming no voluntary debt repurchase. The
anticipated US$2.1 billion debt reduction would result in a 0.5x
decline in VimpelCom Holdings B.V.'s Moody's-adjusted
debt/EBITDA. The debt reduction would partially offset the
negative effect of rouble depreciation and the deteriorated
operating environment in Russia on VimpelCom Holdings B.V.'s
leverage in 2015. In addition, the reduction in foreign-currency
denominated debt would reduce VimpelCom's foreign currency risks
at a time when two of its main functional currencies, i.e., the
Russian rouble and Ukrainian hryvna, have sharply depreciated
against the US dollar.
The offer is in line with VimpelCom's announced approach to use
the proceeds from the recent sale of 51% in its indirect
subsidiary Orascom Telecom Algerie SpA (Djezzy, unrated) earlier
in 2015 to reduce debt. Although the maximum amount of
outstanding principal to be repurchased under the tender offer
(US$2.1 billion) is lower than the group's proceeds from the sale
of a stake in Djezzy ($3.8 billion), Moody's understands that
VimpelCom will consider further options to reduce debt with the
remaining proceeds from the deal.
VimpelCom's ratings remain on review for downgrade. They were
placed on review in December 2014 along with the ratings of 44
other non-financial corporates operating in Russia. In addition
to the assessment of the effect of the deteriorated operating
environment in Russia and rouble depreciation on VimpelCom's
financial profile and liquidity, the review will take into
account the outcome of the tender offer and its effect on
VimpelCom's financial metrics.
Domiciled in Bermuda and headquartered in the Netherlands,
VimpelCom Ltd is a holding company for Vimpel-Communications
OJSC, Kyivstar, Wind Telecomunicazioni S.p.A. and Global Telecom
Holding S.A.E., with strong positions in Russia, Ukraine,
Kazakhstan, Italy, Algeria, Pakistan, and operations in countries
in the Commonwealth of Independent States (CIS), Africa and
South-East Asia. In the last 12 months to Sep. 30, 2014,
VimpelCom generated revenue of US$20.8 billion and EBITDA of
US$8.6 billion (Moody's-adjusted). VimpelCom Holdings B.V.
generated revenue of US$11.0 billion and EBITDA of US$5.0 billion
(Moody's-adjusted) for the same period.
===========
N O R W A Y
===========
NORSKE SKOGINDUSTRIER: S&P Raises CCR to 'CCC+'; Outlook Negative
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it has raised its long-
term corporate credit rating on Norwegian paper producer Norske
Skogindustrier ASA to 'CCC+' from 'SD' (selective default). The
outlook is negative.
At the same time, S&P raised its issue rating on the company's
senior secured notes to 'B' from 'CCC'. The '1' recovery rating
on these notes remains unchanged. S&P also raised its issue
rating on the company's senior unsecured notes to 'CCC-' from
'D'. Our '6' recovery rating on these notes remains unchanged.
S&P assigned its 'CCC-' issue rating and '6' recovery rating to
Norske Skog's senior unsecured exchange notes (comprising the
EUR159 million notes due 2021 and US$61 million notes due 2023).
The rating action follows S&P's review of Norske Skog's business
risk and financial risk profiles after S&P downgraded the company
to 'SD' on Feb. 27, 2015, following its announcement that it had
completed its debt exchange offer.
"We consider that Norske Skog's liquidity and debt maturity
profile have improved after the debt exchange. However, we still
assess Norske Skog's financial risk profile as "highly leveraged"
because its debt level has not decreased meaningfully following
the debt exchange, in our view. Although we acknowledge that
nominal debt was cut by approximately Norwegian krone (NOK) 500
million (about EUR58 million), we still view Norske Skog's
financial risk profile as vulnerable to adverse changes in
business, economic, and financial conditions. We think that the
company's leverage (debt to EBITDA) is unlikely to decrease below
5x in the coming three-to-four years, despite some leeway to trim
leverage, primarily owing to low investment levels, and the
increased competitiveness of its Norwegian mills due to the
weakening Norwegian krone," S&P said.
"We assess Norske Skog's business risk profile as "vulnerable,"
due to its business model, which is geared toward publication
paper used for newspapers, magazines, and books. The market for
newsprint and magazine paper in Europe and Australia is
depressed, with structurally falling demand due to ongoing
digitalization and periods of overcapacity, which leads to
recurring price pressure. Although market players have regularly
closed capacity in recent years (most recently, UPM-Kymmene Corp.
announced in November 2014 that it would close capacity of about
800,000 tons/year), the European market remains fragmented.
Several smaller players compete for market share, which limits
sustained improvement in profitability," S&P added.
S&P forecasts that Norske Skog will continue to be committed to
cutting costs and that the Boyer mill will see improvements in
2015 following the conversion in 2014 to catalogue paper. S&P
thinks that overall market demand will continue to decline by
some 3%-5% in the coming five years but that Norske Skog could
maintain most of its volumes because the bulk of its remaining
machines are well positioned on the cost curve.
Although S&P sees limited downside to pricing from the current
historical lows, S&P also sees little room for pricing
improvements in nominal terms in 2015 and 2016, absent any market
consolidation. S&P expects, however, that Norske Skog's
operating profit could get a boost from the weakening krone.
Therefore, S&P forecasts Norske Skog's EBITDA at about NOK950
million in 2015 and 2016. Downside risks relate to a
strengthening krone from current lows, as well as an accelerated
decline in the demand for newsprint and magazine paper.
Based on these assumptions, S&P arrives at these credit metrics
for Norske Skog in 2015 (taking into account that S&P do not
treat any of the company's cash as surplus cash):
-- Funds from operations to debt of 2%-4%,
-- Debt to EBITDA of above 9x,
-- EBITDA interest coverage of about 1.3x, and
-- Discretionary cash flow generation of negative NOK100
million-NOK200 million.
The negative outlook reflects S&P's view that it could lower its
rating on Norske Skog to 'CCC' if its liquidity weakened. This
could occur, for example, if the company's operational
performance and cash flow generation weakened to the extent that
S&P sees a risk that it is unable to meet its 2016 debt
maturities without additional liquidity sources.
S&P could consider a negative rating action in the coming six to
12 months if S&P thinks there's an increased risk of a liquidity
shortfall in the coming 12 months, for example, in a scenario
whereby the company's weak operational performance would make it
difficult for it to pay the amount due to mature in June 2016
(about NOK1.0 billion). S&P could also lower the ratings if the
company launches an additional debt exchange offer, although S&P
sees this as unlikely in the near term.
S&P currently sees limited upside rating potential in the near
term, due to tough operating conditions in the publication-paper
market, Norske Skog's still-weak credit metrics, and debt
maturities in 2016 and 2017.
===========
R U S S I A
===========
BALTIC LEASING: Fitch Rates RUB3BB Fixed-Rate Bonds 'B+'
--------------------------------------------------------
Fitch Ratings has assigned Russia-based Baltic Leasing LLC's
series BO-01 RUB3 billion fixed-rate rouble-denominated bonds a
Long-term local currency rating of 'B+' and a National Long-term
rating of 'A-(rus)'. The bond's Recovery Rating is 'RR4'. The
issue benefits from recourse to Baltic Leasing LLC's parent,
Baltic Leasing OJSC (B+/A-(rus)/Negative).
The bonds have a tenor of six years with a put option in two
years. The coupon for the first two years has been set at 15.1%.
Proceeds from the issuance were used solely for refinancing part
of the issuer's borrowings from Otkrytie Group. Should Baltic
Leasing LLC fail to make an interest or principal payment under
the terms of the bond, bondholders will benefit from a public
irrevocable offer (PIO), allowing them to sell the bonds to the
issuer's parent, Baltic Leasing OJSC.
KEY RATING DRIVERS
The bond's rating is equalized with Baltic Leasing OJSC's Issuer
Default Rating (IDR), reflecting Fitch's view that default risk
on the bond and on the parent's senior unsecured obligations is
very closely aligned. Baltic Leasing LLC comprises a large
majority of the consolidated assets and business of Baltic
Leasing OJSC, and in Fitch's view it is unlikely that one entity
could default while the other serviced its obligations.
Fitch believes it could be challenging for bondholders to enforce
the PIO in a Russian court, in case of need. However, recourse
to the parent entity provides little additional credit
enhancement for creditors, given that the former's credit profile
is highly linked to that of its subsidiary.
At end-9M14, 61% of Baltic Leasing Group's funding was raised
from Otkrytie-related banks, 27% of which (17% of total funding)
was redeemed using proceeds from the bond issuance. According to
management, the issue was fully acquired by banks related to the
Otkrytie Group.
The issuance has slightly improved Baltic Leasing LLC's funding
profile, and accordingly of Baltic Leasing OJSC, as the average
maturity of the funding base was extended somewhat. Moreover,
the replacement of bank loans with the bond has allowed Baltic
Leasing OJSC to unencumber some of its lease book, which had been
pledged against the loans. However, Baltic Leasing's margins
could be negatively impacted by increased borrowing costs, as the
bond coupon rate is 3ppts higher than the bank funding that it
replaced.
RATING SENSITIVITIES
The rating could be downgraded if Baltic Leasing OJSC's Long-term
IDR was downgraded, or if there was a marked increase in the
proportion of pledged assets, potentially resulting in lower
recoveries for senior unsecured creditors in a default scenario.
An upgrade of the bond would require an upgrade of Baltic Leasing
OJSC.
FAR EASTERN: Moody's Affirms 'B1' Long-Term Deposit Ratings
-----------------------------------------------------------
Moody's Investors Service confirmed the Ba3 long-term deposit
ratings of Russian Regional Development Bank and the B1 long-term
deposit ratings of its subsidiary Far Eastern Bank. Both banks'
deposit ratings carry a negative outlook. This action follows
the conclusion of the review of the issuer rating of OJSC Oil
Company Rosneft -- i.e., the ultimate parent of both Russian
Regional Development Bank and Far Eastern Bank -- which resulted
in a downgrade to Ba1 from Baa3 with negative outlook on Feb. 25,
2015.
The standalone ratings -- i.e., bank financial strength ratings
(BFSRs) and the corresponding baseline credit assessments
(BCAs) -- of Russian Regional Development Bank and Far Eastern
Bank were not affected by the rating action.
This rating action concludes the review for downgrade placed on
these ratings in January 2015.
The confirmation of the ratings of Russian Regional Development
Bank and Far Eastern Bank is prompted by the recent downgrade of
Rosneft's issuer rating with negative outlook. The rating agency
notes that the aforementioned one-notch downgrade of Rosneft did
not have an immediate impact on the ratings of the bank
subsidiaries. At the same time, the negative rating outlook
reflects the fact that any further downgrade of the support
provider's ratings would exert downward pressure on the two
banks' ratings.
Thus far, the Ba3 ratings of Russian Regional Development Bank
and the B1 ratings of Far Eastern Bank continue to incorporate
Moody's assessment of a high probability of parental support in
case of need, which results in a two-notch uplift from these
banks' standalone BCAs of b2 and b3, respectively. The rating
agency says that the likelihood of parental support for Russian
Regional Development Bank and Far Eastern Bank stems from their
strong links with Rosneft, through the latter's operational and
funding support.
At the same time, Moody's notes that Rosneft's financial capacity
to provide such support to Russian Regional Development Bank and
Far Eastern Bank on a standalone basis has weakened, as indicated
by the downgrade of the parent's rating. Deterioration in the
parent's standalone credit profile may also cause a shift in its
willingness to provide support, although the rating agency notes
no immediate weakening in the commitment of the parent to support
its subsidiaries.
Moody's considers that upward pressure on the long-term ratings
of Russian Regional Development Bank and Far Eastern Bank is
unlikely given the negative outlook on Rosneft's rating. The
supported ratings of these subsidiaries would be negatively
affected if the issuer rating of the parent were downgraded. The
upward potential of subsidiaries' standalone credit profiles --
as expressed by their BFSRs and BCAs -- is also limited, given
the challenging domestic operating environment.
Downward pressure could be exerted on Russian Regional
Development Bank's and Far Eastern Bank's ratings as a result of
downgrade of the parent's issuer rating, while the banks' BCA
could be lowered following greater-than-currently expected
deterioration in asset quality, as well as any weakening of their
capitalization or profitability.
The principal methodology used in these ratings was Global Banks
published in July 2014.
Domiciled in Moscow, Russia, Russian Regional Development Bank
reported total consolidated assets of RUB116.6 billion (US$3.5
billion) and total equity of RUB8.1 billion under unaudited IFRS
at end-June 2014. In the same reporting period, the bank posted
a net IFRS income of RUB413.4 million (US$11.8 million).
Domiciled in Vladivostok, Russia, Far Eastern Bank reported total
consolidated assets of RUB26.0 billion (Us$0.8 billion) and total
equity of RUB3.4 billion under audited IFRS at year-end 2013. In
the same reporting period, the bank posted a net IFRS income of
RUB496.2 million (US$15.6 million).
MECHEL OAO: VTB Group Mulls Bankruptcy Petition
-----------------------------------------------
According to Bloomberg News' Halia Pavliva, Mechel OAO confirmed
an RIA Novosti news agency report saying OAO VTB Group plans to
sue to bankrupt the company.
Mechel, the biggest producer of coal used for steel-making,
suspended debt payments in 2014 as prices for the material slid,
Bloomberg recounts.
VTB, OAO Gazprombank and OAO Sberbank and OAO VTB, all of which
are state controlled, are Mechel's biggest creditors, Bloomberg
discloses. They have been pressuring the company to decide on a
plan to meet its obligations, Bloomberg notes.
"Our target price on the stock is zero because the company is
bankrupt," Bloomberg quotes Oleg Petropavlovskiy, an analyst at
BCS Financial Corp. in Moscow, as saying by phone on March 6.
"There is no clarity on how its dispute with VTB may be solved.
While the debt is already huge, a significant part is in rubles
and the ruble strengthening is very, very bad for the company."
Arseniy Palagin, a Mechel spokesman in Moscow, said by e-mail on
March 6 Mechel and VTB negotiated a new debt payments schedule
and the company was "surprised" to learn the lender may seek its
bankruptcy, Bloomberg relays.
Mr. Palagin, as cited by Bloomberg, said VTB has offered to cut
interest on one of its four loans to 18.5% from 35%.
Debt Load
RIA Novosti reported that Industry Minister Denis Manturov said
on March 3 the company has cut its debt to US$6.4 billion from
from US$8.6 billion in June 2014 and can pay interest in full,
Bloomberg relates. About 40% of Mechel's debt is in rubles,
Bloomberg notes.
"There is no reason to bankrupt the company," Bloomberg quotes
Ilya Balakirev, chief analyst at Moscow-based UralSib Financial
Corp., as saying said by phone from Moscow on March 6. "It's a
good company in a bad situation of low coal prices. There two
potential scenarios: either coal prices will rise, which is
unlikely, or the government will interfere."
Mechel was included on a list of "systemically important"
companies that Russia said are deserving of support under a
government plan to stabilize the economy, Bloomberg discloses.
Mechel's coal prices slid 25% in the third quarter from a year
earlier, Bloomberg says, citing the company's Web site.
Mechel OAO is a Russian metals and mining group.
RSG INTERNATIONAL: S&P Affirms 'B-/B' CCR on Cash Accumulation
--------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-/B' long- and
short-term corporate credit ratings and 'ruBBB' Russia national
scale ratings on Russia-based property developer RSG
International Ltd. (RSG; brand name Kortros) and its finance
vehicle and 100% subsidiary, RSG Finance LLC. At the same time,
S&P removed all ratings from CreditWatch negative, where it
placed them on Jan. 20, 2015. The outlook is negative.
The rating affirmation reflects the fact that RSG has reduced its
debt leverage in 2014 by more than Russian ruble (RUB)5 billion
(US$89 million) on the back of higher cash flow proceeds from
sales of its apartments, as well as accumulating more than RUB3
billion (US$54 million) of cash by year-end 2014, which S&P
expects to be used for the RUB2.5 billion (US$44 million) bond
repayment in October 2015. These company-specific factors should
help RSG withstand the weakening economic environment in Russia.
Key elements of the deteriorating environment are falling
disposable incomes pressured by accelerating inflation, and the
central bank's substantial increase of the interest rate to 15%.
As a result, S&P believes that demand for real estate will
materially weaken in 2015-2016, causing a cyclical downturn in
the industry.
S&P understands that RSG's largest developments are currently on
time and within budget. S&P anticipates stable debt of about
$180 million in 2015-2016, partially from drawings under the
project-specific credit lines.
"In our opinion, RSG's business risk profile is 'weak.' This
reflects our view of the company's exposure to the 'high' country
risk of operating in Russia and the 'moderately high' industry
risk associated with property development. We view developers as
highly cyclical companies with large and volatile working capital
requirements. Given the expected recession in Russia and
increased mortgage rates, we expect significant decline in demand
in the coming years," S&P said.
"RSG's competitive position is 'weak,' under our criteria. This
reflects the company's relatively large size in Russia and its
high market share in large but secondary cities, like
Yekaterinburg; the increasing size and diversity of projects; and
the growing exposure to the large Moscow region in the
residential property segment, although its unit sales volume and
EBITDA base remain average relative to rated international peers.
RSG has a track record of delivering on time and budget large-
scale and complex projects like the five phases of Akademy City.
The fixed-price structure of the contracting agreements allows
RSG to potentially put a stop to construction works quickly,
should demand drop and if buildings are less than 50% built.
Additional strengths include the current low level of land
purchase commitments and profitability metrics that remain in
line with industry averages," S&P added.
Negative factors include the still-high income concentration from
one very large project, Akademy City, which should account for
almost half of completions in 2014 and which doesn't benefit from
pre-sales; as well as the high level of mortgage-related sales.
Finally, RSG's limited brand recognition and modest sales network
in Russia weigh on S&P's assessment of the company's competitive
position.
The negative outlook reflects S&P's view that adverse funding
conditions might lead to an even more pronounced increase in the
effective interest rate and declining demand for new properties
due to higher mortgage rates. In S&P's view, this is likely to
put further pressure on RSG' credit metrics and increase its
refinancing risks. A key factor behind this will be the
effectiveness of government programs aimed at subsidizing
interest rates for developers and consumer mortgages.
The outlook also reflects S&P's opinion that, despite its
expectation that RSG should be able to maintain a ratio of EBITDA
to interest of about 1.0x and repay upcoming debt maturities
using its cash balances, there are mounting risks that declining
sales might result into materially negative free operating cash
flow, putting pressure on the company's liquidity.
S&P could lower the ratings if RSG does not manage its liquidity
position adequately to cover debt maturities and large working
capital needs in the next 12 months. This would likely stem from
a sharp fall in demand in RSG's major regions of operation,
leading to a sharp fall in apartment prices. Such events would
likely force RSG to shelve projects and focus on releasing cash
from sales of completed properties to cover immediate liquidity
needs.
S&P could revise the outlook to stable if it sees that RSG has
successfully refinanced or repaid its upcoming debt maturities.
S&P would consider a consistent ratio of EBITDA to interest of
about 1.5x as compatible with this scenario.
RUSSIAN REGIONAL: Moody's Confirms Ba3 Long-Term Deposit Ratings
----------------------------------------------------------------
Moody's Investors Service confirmed the Ba3 long-term deposit
ratings of Russian Regional Development Bank and the B1 long-term
deposit ratings of its subsidiary Far Eastern Bank. Both banks'
deposit ratings carry a negative outlook. This action follows
the conclusion of the review of the issuer rating of OJSC Oil
Company Rosneft -- i.e., the ultimate parent of both Russian
Regional Development Bank and Far Eastern Bank -- which resulted
in a downgrade to Ba1 from Baa3 with negative outlook on Feb. 25,
2015.
The standalone ratings -- i.e., bank financial strength ratings
(BFSRs) and the corresponding baseline credit assessments
(BCAs) -- of Russian Regional Development Bank and Far Eastern
Bank were not affected by the rating action.
This rating action concludes the review for downgrade placed on
these ratings in January 2015.
The confirmation of the ratings of Russian Regional Development
Bank and Far Eastern Bank is prompted by the recent downgrade of
Rosneft's issuer rating with negative outlook. The rating agency
notes that the aforementioned one-notch downgrade of Rosneft did
not have an immediate impact on the ratings of the bank
subsidiaries. At the same time, the negative rating outlook
reflects the fact that any further downgrade of the support
provider's ratings would exert downward pressure on the two
banks' ratings.
Thus far, the Ba3 ratings of Russian Regional Development Bank
and the B1 ratings of Far Eastern Bank continue to incorporate
Moody's assessment of a high probability of parental support in
case of need, which results in a two-notch uplift from these
banks' standalone BCAs of b2 and b3, respectively. The rating
agency says that the likelihood of parental support for Russian
Regional Development Bank and Far Eastern Bank stems from their
strong links with Rosneft, through the latter's operational and
funding support.
At the same time, Moody's notes that Rosneft's financial capacity
to provide such support to Russian Regional Development Bank and
Far Eastern Bank on a standalone basis has weakened, as indicated
by the downgrade of the parent's rating. Deterioration in the
parent's standalone credit profile may also cause a shift in its
willingness to provide support, although the rating agency notes
no immediate weakening in the commitment of the parent to support
its subsidiaries.
Moody's considers that upward pressure on the long-term ratings
of Russian Regional Development Bank and Far Eastern Bank is
unlikely given the negative outlook on Rosneft's rating. The
supported ratings of these subsidiaries would be negatively
affected if the issuer rating of the parent were downgraded. The
upward potential of subsidiaries' standalone credit profiles --
as expressed by their BFSRs and BCAs -- is also limited, given
the challenging domestic operating environment.
Downward pressure could be exerted on Russian Regional
Development Bank's and Far Eastern Bank's ratings as a result of
downgrade of the parent's issuer rating, while the banks' BCA
could be lowered following greater-than-currently expected
deterioration in asset quality, as well as any weakening of their
capitalization or profitability.
The principal methodology used in these ratings was Global Banks
published in July 2014.
Domiciled in Moscow, Russia, Russian Regional Development Bank
reported total consolidated assets of RUB116.6 billion (US$3.5
billion) and total equity of RUB8.1 billion under unaudited IFRS
at end-June 2014. In the same reporting period, the bank posted
a net IFRS income of RUB413.4 million (US$11.8 million).
Domiciled in Vladivostok, Russia, Far Eastern Bank reported total
consolidated assets of RUB26.0 billion (US$0.8 billion) and total
equity of RUB3.4 billion under audited IFRS at year-end 2013. In
the same reporting period, the bank posted a net IFRS income of
RUB496.2 million (US$15.6 million).
SOGAZ & INSURANCE: S&P Cuts Counterparty Credit Ratings to BB+
--------------------------------------------------------------
Standard & Poor's Ratings Services said it has revised its
assessment of Russian property and casualty (P&C) insurance
industry and country risk (IICRA) to high from moderate and
consequently took negative rating actions on four Russia-based
insurance companies.
The rating actions reflect many of the same credit factors that
led S&P to lower the sovereign ratings on the Russian Federation
and to revise its Banking Industry Country Risk Assessment
(BICRA) for Russia to Group 8 from Group 7.
The actions reflect S&P's view that economic prospects in Russia
are likely to remain significantly weaker over the next couple of
years than S&P had previously anticipated. S&P now considers
that the impact of the ongoing deterioration of the economic
environment will be more severe than S&P anticipated before.
S&P expects that oil prices, the impact of the sanctions, and
growing business uncertainty will lead to an economic contraction
in 2015 of 2.6%, with average growth in 2015-2018 of about 0.5%--
significantly weaker than the 2.4% average over the previous four
years.
Historically, Russia's insurance market has been volatile and
very dependent on economic factors. Consequently, S&P expects
insurance sector growth to decelerate in 2015 to less than 2% in
nominal terms, as measured by gross premiums written (GPW). S&P
now believes that growth in real terms will likely be negative,
considering projected inflation of 13.5%. S&P sees accelerating
inflation adding to growing losses in the insurance sector. S&P
believes, however, that in 2016 and 2017 growth will pick up and
with the expected deceleration in inflation, it will be positive
in real terms.
S&P expects car sales in Russia to continue to fall, putting
significant pressure on demand for motor insurance, which
represents about 20% of total market GPW.
S&P sees some support of premium levels in obligatory insurance
lines, which have limited demand elasticity and account for about
17% of GPW in Russia. S&P also saw an increase in the obligatory
third-party liability insurance base tariff set by the government
in late 2014, and S&P expects a further increase in 2015.
S&P believes that the recent Russian ruble weakening against the
dollar, the euro, and the yen will be painful for insurers,
especially for companies engaged in motor insurance. S&P
believes the rising cost of imported spare parts will put loss
ratios in motor insurance under significant pressure.
S&P's view on the overall assessment of the industry risks that
Russian insurers face remains unchanged, but S&P notes a clear
negative trend in expected return on equity (ROE) for the sector.
Nevertheless, S&P believes that the sector will, in aggregate, be
profitable. S&P believes that ROE in 2015 will be supported by
investment income, which will be higher than in 2014, reflecting
an interest rate hike on deposits, which are the main investment
asset for insurers. If S&P believes that ROE for the sector is
under 4% for a prolonged period of time S&P could negatively
revise its assessment of the sector's profitability and
consequently revise S&P's assessment of industry risk for the
Russian P/C insurance sector to moderate from intermediate.
However, this wouldn't have an immediate impact on S&P's final
IICRA.
S&P notes that average credit quality of insurers' assets is
deteriorating as most of invested assets are Russian bank
deposits and investments in Russian government and corporate
bonds. S&P believes that the average credit quality of insurers
gravitates toward 'BB', whereas previously it was closer to
'BB+'.
As a result of S&P's IICRA revision, and also taking into account
the latest company-specific developments, S&P is taking rating
actions on several insurers, as detailed below.
SOGAZ AND CJSC INSURANCE CO. TRANSNEFT
S&P has lowered its long-term counterparty credit ratings on
Sogaz and Insurance Co. Transneft to 'BB+' from 'BBB-' and S&P's
Russia national scale ratings to 'ruAA+' from 'ruAAA'. The
outlook is stable. S&P has removed all ratings from CreditWatch
negative where it placed them on Dec. 29, 2014.
"We equalize the rating on IC Transneft with that on Sogaz due to
its core status to the company. The downgrade reflects our
revision of the business risk profile to fair from satisfactory,
driven by our change in our assessment of the insurance industry
and country risks. The ratings continue to reflect a less than
adequate financial risk profile supported by moderately strong
capital and earnings, and capped by the weighted average credit
quality of the investment portfolio at 'BB'. After applying our
foreign currency sovereign stress scenario, we consider that
Sogaz would likely retain positive regulatory capital and
maintain a liquidity ratio in excess of 100%. We believe that
Sogaz is unlikely to default on its insurance liabilities under
the scenario. Therefore, the ratings on Sogaz can be higher than
our 'BB+' long-term foreign currency rating on Russia, but are
limited by the 'BBB-' long-term local currency rating on Russia.
We would currently not rate Sogaz more than one notch above the
foreign currency rating on Russia, owing to the company's
substantial exposure to its Russia-based assets," S&P said.
The stable outlook reflects S&P's view that Sogaz will likely
maintain moderately strong capital and earnings, and at least
less-than-adequate investment quality under S&P's methodology.
S&P also thinks the company will continue to benefit from its
strong ties with Russian vertically integrated gas company
Gazprom OAO. A positive rating action on Sogaz is unlikely within
the next 12 months.
INGOSSTRAKH INSURANCE CO.
S&P has lowered its long-term counterparty credit ratings on
Ingosstrakh Insurance Co. to 'BB+' from 'BBB-' and S&P's Russia
national scale ratings to 'ruAA+' from 'ruAAA'. At the same
time, S&P removed the ratings from CreditWatch negative where it
placed them on Dec. 29, 2014. The outlook is negative.
The downgrade reflects S&P's revision of the business risk
profile to fair from satisfactory, driven by S&P's change in its
assessment of the insurance industry and country risks. It
specifically reflects S&P's concerns of potentially reduced
growth levels and the rising costs of imported spare parts, which
puts loss ratios in motor insurance under significant pressure.
S&P notes, however, that Ingosstrakh's preliminary performance
results for 2014 are above its expectations.
The outlook mirrors that on the sovereign and reflects the risk
that a sovereign foreign currency default could undermine
liquidity at Ingosstrakh.
OSAO RESO GARANTIA
S&P has lowered its long-term counterparty credit rating to 'BB'
from 'BB+' and its Russia national scale rating to 'ruAA' from
'ruAA+'. S&P also removed the ratings from CreditWatch negative
where it placed them on Dec. 29, 2014. The outlook is stable.
The downgrade reflects S&P's revision of the business risk
profile to fair from satisfactory, driven by S&P's changed view
of insurance industry and country risk. S&P kept the financial
risk profile at weak. However, S&P revised its assessment of the
capital and earnings to less than adequate from lower adequate,
which reflects weakening of capital adequacy. Capital adequacy
is pressured following the company's investments in Reso Leasing
and the resulting goodwill which S&P fully deduct from the
company's capital. S&P also revised the company's financial
flexibility score to adequate from less than adequate, which
reflects S&P's expectations that, in 2014-2017, OSAO Reso
Garantia will be able to maintain its financial leverage below
30% and fixed charge coverage above 4x. S&P's expectations are
supported by the fact that the company significantly decreased
its leverage in 2014, by reducing debt to about Russian ruble
(RUB)11 billion from RUB21 billion in 2013.
The stable outlook on OSAO RESO Garantia reflects S&P's
expectation that the company will be able to maintain its strong
competitive position, in particular on the motor market. S&P
expects that the company will be able to keep leverage at less
than 30% and fixed charge coverage above 4x. However, S&P don't
expect the financial profile to improve from its currently weak
level.
ROSGOSSSTRAKH OAO AND ROSGOSSTRAKH OOO
S&P has affirmed the long-term rating on OAO Rosgosstrakh at
'BB-' and the Russia national scale rating at 'ruA+'. The
outlook is negative.
S&P has revised its business risk assessment for OAO Rosgosstrakh
to satisfactory from strong, driven by S&P's revision of the
IICRA. S&P continues to consider the company's competitive
position as strong.
With strong positions in motor risk, the company enjoys strong
brand recognition, and has a superior distribution network to
those of its domestic peers.
The company's financial risk profile is very weak. This
assessment reflects capital and earnings that are less than
adequate and the company's high risk position. The company's
high risk position is due to significant related-party, sector,
and single name concentrations.
The rating on the Rosgosstrakh group's main operating entity,
Rosgosstrakh OOO, is at the same level as the rating on
Rosgosstrakh OAO because Rosgosstrakh OOO is 99.9% owned by
Rosgosstrakh OAO and S&P views it as a core subsidiary.
Rosgosstrakh OOO is the largest operating company within the
Rosgosstrakh group. It constitutes 80% of the consolidated
group's total assets, accounts for close to 90% of its total
capital, and contributes 90% of its gross premium written.
The negative outlook on Rosgosstrakh OAO reflects the possibility
that the company could fail to keep its capital adequacy within
the less-than-adequate category over the next three years. S&P
believes that potential underperformance by the insurance
portfolio, in particular the motor portfolio, could weaken
retained profits. S&P also notes that the company was growing at
higher than market pace in 2014, pressuring capital with growing
premium charges.
SOGLASIE
S&P has affirmed the long-term rating on Soglasie at 'BB-' and
Russia national scale rating at 'ruAA-'. The outlook is stable.
S&P revised its business risk assessment to vulnerable from fair,
driven by S&P's revision of the IICRA. S&P continues to consider
the company's competitive position as adequate. The weak
financial risk profile reflects S&P's view of the company's lower
adequate capital and earnings and high risk position. S&P's
capital assessment also takes into account that, in line with its
projections in January 2015, the shareholder provided a RUB2
billion capital injection to Soglasie.
At the same time, S&P removed one notch of adjustment to the
final rating which incorporated an expected worsening of the
macroeconomic environment and S&P's view of the weakening
insurance environment. S&P has now reflected this risk in its
weaker IICRA assessment.
The stable outlook reflects S&P's expectation that Soglasie will
maintain its adequate competitive position, combined with lower
adequate capital and earnings.
S&P could take a negative rating action on Soglasie if S&P sees
no financial support from the main shareholder in 2016, which
could put pressure on capital and earnings; if the company
experiences more losses on its portfolio than S&P currently
projects; or if S&P views the quality of the investment portfolio
as weak.
If S&P considers that liquidity poses severe risks to Soglasie's
operations and its activity as a going concern, S&P is likely to
cap the rating at 'B-' at best. A positive rating action on
Soglasie is unlikely within the next 12 months.
VTB INSURANCE
S&P has affirmed its long-term counterparty credit ratings on VTB
Insurance at 'BB+' and S&P's Russia national scale ratings at
'ruAA+'. S&P has revised downward its assessment of VTB
Insurance's stand-alone credit profile to 'bb' from 'bb+'. The
change reflects S&P's revision of the business risk profile to
vulnerable from fair, driven by S&P's revised view of insurance
industry and country risk. S&P considers VTB Insurance Ltd. as
core to its parent, government-owned VTB Bank JSC. S&P now adds
one notch of support to the rating on VTB Insurance to reflect
this. The outlook on VTB Insurance is negative, mirroring that
on the parent.
RATINGS LIST
CreditWatch Action; Downgraded
To From
OJSC Sogaz
CJSC Insurance Co. TRANSNEFT
Counterparty Credit Rating BB+/Stable BBB-/Watch Neg
Financial Strength Rating BB+/Stable BBB-/Watch Neg
Russia National Scale Rating ruAA+ ruAAA/Watch Neg
Ingosstrakh Insurance Co.
Counterparty Credit Rating BB+/Negative BBB-/Watch Neg
Financial Strength Rating BB+/Negative BBB-/Watch Neg
Russia National Scale Rating ruAA+ ruAAA/Watch Neg
OSAO RESO Garantia
Counterparty Credit Rating BB/Stable BB+/Watch Neg
Financial Strength Rating BB/Stable BB+/Watch Neg
Russia National Scale Rating ruAA ruAA+/Watch Neg
Ratings Affirmed
Rosgosstrakh OAO
Rosgosstrakh OOO
Counterparty Credit Rating BB-/Negative
Financial Strength Rating BB-/Negative
Russia National Scale Rating ruA+
SOGLASIE Insurance Co. Ltd.
Counterparty Credit Rating BB-/Stable
Financial Strength Rating BB-/Stable
Russia National Scale Rating ruAA-
VTB Insurance Ltd.
Counterparty Credit Rating BB+/Negative
Financial Strength Rating BB+/Negative
Russia National Scale Rating ruAA+
N.B. This list does not include all ratings affected.
RATINGS SCORE SNAPSHOTS
OJSC SOGAZ/CJSC INSURANCE CO. TRANSNEFT
To From
Financial Strength Rating BB+/Stable BBB-/Watch Neg
Anchor bb+ bbb-
Business Risk Profile Fair Satisfactory
IICRA* High Risk Moderate Risk
Competitive Position Strong Strong
Financial Risk Profile Less than Adequate Less than Adequate
Capital & Earnings Moderately Moderately
Strong Strong
Risk Position High Risk High Risk
Financial Flexibility Adequate Adequate
Modifiers 0 0
ERM and Management 0 0
Enterprise Risk Management Adequate Adequate
Management & Governance Fair Fair
Holistic Analysis 0 0
Liquidity Strong Strong
Support 0 0
Group Support 0 0
Government Support 0 0
INGOSSTRAKH GROUP
To From
Financial Strength Rating BB+/Negative BBB-/Watch Neg
Anchor bb+ bbb-
Business Risk Profile Fair Satisfactory
IICRA* High Risk Moderate Risk
Competitive Position Strong Strong
Financial Risk Profile Less than Adequate Less than
Adequate
Capital & Earnings Upper Adequate Upper Adequate
Risk Position High Risk High Risk
Financial Flexibility Adequate Adequate
Modifiers 0 0
ERM and Management 0 0
Enterprise Risk Management Adequate Adequate
Management & Governance Fair Fair
Holistic Analysis 0 0
Liquidity Adequate Adequate
Support 0 0
Group Support 0 0
Government Support 0 0
OSAO RESO Garantia Group
To From
Financial Strength Rating BB/Stable BB+/Watch Neg
Anchor bb bb+
Business Risk Profile Fair Satisfactory
IICRA* High Risk Moderate Risk
Competitive Position Strong Strong
Financial Risk Profile Weak Weak
Capital & Earnings Less than Lower
Adequate Adequate
Risk Position Moderate Risk Moderate Risk
Financial Flexibility Adequate Less than
Adequate
Modifiers 0 0
ERM and Management 0 0
Enterprise Risk Management Adequate Adequate
Management & Governance Fair Fair
Holistic Analysis 0 0
Liquidity Adequate Adequate
Support 0 0
Group Support 0 0
Government Support 0 0
ROSGOSSTRAKH OAO/ROSGOSSTRAKH OOO
To From
Financial Strength Rating BB-/Negative BB-/Negative
Anchor bb- bb-
Business Risk Profile Satisfactory Strong
IICRA* High Risk Moderate Risk
Competitive Position Strong Strong
Financial Risk Profile Very Weak Very Weak
Capital & Earnings Less than Less than
Adequate Adequate
Risk Position High Risk High Risk
Financial Flexibility Adequate Adequate
Modifiers 0 0
ERM and Management 0 0
Enterprise Risk Mgmt Adequate Adequate
Management & Governance Fair Fair
Holistic Analysis 0 0
Liquidity Less than Less than
Adequate Adequate
Support 0 0
Group Support 0 0
Government Support 0 0
SOGLASIE INSURANCE CO. LTD
To From
Financial Strength Rating BB-/Stable BB-/Stable
SACP bb- bb-
Anchor bb- bb
Business Risk Profile Vulnerable Fair
IICRA* High Risk Moderate Risk
Competitive Position Adequate Adequate
Financial Risk Profile Weak Weak
Capital & Earnings Lower Adequate Lower Adequate
Risk Position High Risk High Risk
Financial Flexibility Adequate Adequate
Modifiers 0 -1
ERM and Management 0 0
Enterprise Risk Mgmt Adequate Adequate
Management & Governance Fair Fair
Holistic Analysis 0 -1
Liquidity Less than Less than
Adequate Adequate
Support 0 0
Group Support 0 0
Government Support 0 0
VTB INSURANCE LTD
To From
Financial Strength Rating BB+/Negative BB+/Negative
SACP bb bb+
Anchor bb bb+
Business Risk Profile Vulnerable Fair
IICRA* High Risk Moderate Risk
Competitive Position Adequate Adequate
Financial Risk Profile Less than Less than
Adequate Adequate
Capital & Earnings Lower Adequate Lower Adequate
Risk Position Moderate Risk Moderate Risk
Financial Flexibility Adequate Adequate
Modifiers 0 0
ERM and Management 0 0
Enterprise Risk Mgmt Adequate Adequate
Management & Governance Fair Fair
Holistic Analysis 0 0
Liquidity Strong Strong
Support +1 0
Group Support +1 0
Government Support 0 0
*Insurance Industry and Country Risk Assessment.
TOMSK CITY: Fitch Affirms 'BB' Issuer Default Rating
----------------------------------------------------
Fitch Ratings has affirmed the Russian City of Tomsk's Long-term
foreign and local currency Issuer Default Ratings (IDRs) at 'BB',
with Stable Outlooks and Short-term foreign currency IDR at 'B'.
The agency has also affirmed the city's National Long-term rating
at 'AA-(rus)' with Stable Outlook.
Fitch has also affirmed the city of Tomsk's outstanding senior
unsecured domestic bonds' (RU000A0JV2H4, RU000A0JTDV5) local
currency long-term rating at 'BB' and National Long-term rating
at 'AA-(rus)'.
KEY RATING DRIVERS
The ratings reflect Tomsk's moderate debt with manageable
refinancing risk, still sound budgetary performance, high
liquidity and strong self-financing capacity on capital outlays.
The ratings also factor in the well-diversified local economy,
supporting the low concentration of the city's tax base.
Fitch expects the city will maintain direct risk at a moderate
level at about 30% of current revenue in 2015-2017 (2014: 29%).
The city's administration intends to continue its prudent
budgetary policy with close to balance budget and maintenance of
stable debt. By end-January 2015 the city's debt stock was 72%
composed of two to three-year bank loans followed by domestic
bonds (21%) and budget loans (7%) contracted from the Tomsk
region.
Fitch assesses Tomsk's exposure to refinancing risk as moderate.
In 2015 the city faces repayment of RUB1 billion maturing debt,
which was 39% of its debt portfolio as of February 2015.
Immediate refinancing risk is mitigated by the city's RUB594
million contracted revolving credit lines and sound RUB465
million cash reserves accumulated by February 2015 that in total
cover all borrowing needs in 2015.
Fitch expects Tomsk to post a sound budgetary performance with an
operating balance exceeding 10% of operating revenue and a minor
budget deficit in 2015-2017. In 2014 the city recorded an
operating margin of 13% (2013: 14%) and a surplus before debt
variation of 0.2% of total revenue (2013: deficit 7.6%). The
sound result was driven by a positive net effect of reallocation
of expenditure responsibilities and revenue sources between
municipal and regional budgets along with a continuing streamline
of budget's spending by the city's administration.
Fitch expects the city will maintain capex at above 20% of total
spending in the medium term (2014: 25%). Local administration
intends to continue investing in Tomsk's economy. The decision
is aided by the city's high self-financing capacity (current
balance and capital revenue) which covered on average 95% of
total capex in 2012-2014. Fitch expects the city's capex self-
financing capacity will continue to be strong.
Tomsk has a well-diversified service-oriented economy influenced
by academic and research educational institutions. The tax
concentration of the city's revenue is low, with the top 10
taxpayers representing less than 10% of the total tax revenue
received by the city in 2014. Fitch forecasts a 4% contraction
of national GDP in 2015, and notes the city's economy is likely
to be negatively affected by the national macroeconomic context
leading to potential deceleration of tax revenue.
RATING SENSITIVITIES
Lengthening of the city's debt profile along with the maintenance
of a sound budgetary performance with margins at about 20% in the
medium term would be positive for the ratings.
Increasing debt and/or weak budgetary performance, leading to
deterioration of direct risk payback significantly exceeding the
average maturity of debt would be negative for the ratings.
===========
T U R K E Y
===========
TURK HAVA: S&P Assigns 'BB+' Corp. Credit Rating; Outlook Neg.
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB+' long-term
corporate credit rating to Turkish airline Turk Hava Yollari A.O.
(THY). The outlook is negative.
The ratings on THY reflect its stand-alone credit profile (SACP)
of 'bb' and the likelihood of extraordinary support from the
Turkish government.
"In accordance with our criteria for rating government-related
entities, we factor into our 'BB+' long-term corporate credit
rating on THY one notch of uplift from its 'bb' SACP to reflect
our opinion that there is a moderately high likelihood that the
Turkish government would provide timely and sufficient
extraordinary support to THY in the event of financial distress.
The negative outlook on THY indicates that if we lowered our
local currency sovereign credit rating on Turkey to 'BBB-', we
would no longer apply this notch of support to our ratings on
THY," S&P said.
S&P considers the Turkish government has a moderately high
likelihood of providing extraordinary support to THY in case of
need. S&P bases its view on:
-- THY's important role for the Turkish government; and
-- "Strong" link to the Turkish government.
Although THY is a profit-seeking enterprise, it provides Turkey
with an essential service and foreign currency. In S&P's view,
if THY were to default, it would disrupt its activities because
the company relies heavily on foreign funding for its aircrafts,
which could be repossessed in the event of a default. The
government is an important shareholder for THY and it has a
policy of supporting THY in certain circumstances.
The business risk profile reflects THY's market position at
Ataturk airport, where the company is by far the leading
operator. It also benefits from Istanbul's geographic position.
It acts as a transfer hub, allowing THY to connect to a large
proportion of Europe, Middle East, Central Asia, and Africa on
narrow-body aircraft. This allows THY to generate profits on
routes that other airlines would find difficult. The company has
used its position to materially and profitably grow the business
over the past three years. In 2014, its Standard & Poor's-
adjusted EBITDA reached $1.7 billion and its EBITDA margin was
higher than that of most of its European peers at 14.9%.
The business risk assessment is partly constrained by the
volatile nature of the airline industry, which is susceptible to
external shocks such as wars, terror attacks, epidemics, and oil
price shocks. S&P expects THY's exposure to the more competitive
and lower-yielding transfer passenger market to increase as its
network grows. If the Turkish lira appreciates significantly, it
could threaten THY's current cost-competitiveness, although S&P
anticipates that any such appreciation would cause GDP growth in
Turkey to accelerate, increasing demand for air travel. Overall
S&P views the business risk profile of THY as "fair" under its
criteria.
In S&P's base-case scenario, it forecasts that THY will maintain
weighted-average adjusted funds from operations (FFO) to debt
above 20%, although S&P expects overall leverage and sales to
continue to increase as THY will take delivery f a significant
number of new aircraft over the coming three years.
S&P's base case assumes:
-- Average GDP growth in Turkey of about 3% in 2015-2016 and
about 1%-2% in the eurozone in the same period;
-- THY will continue to increase capacity by about 15% in
2015;
-- Passenger numbers will grow roughly in line with capacity
growth in 2015, leading to stable capacity utilization
(measured using load factors);
-- Average ticket prices will drop by 4%-6%, mainly because of
increasing transfer volumes and the partial transfer to
consumers of the reduction in fuel costs.
-- Brent oil price will be about US$55 in 2015, increasing to
US$65 in 2016. Overlaid with THY's hedging policy, this is
likely to cause the fuel bill to fall, despite the
significant capacity increase.
-- Employee costs per available seat kilometer to be
relatively stable during 2015.
Based on these assumptions, S&P arrives at these credit measures
for 2015-2016:
-- Return on capital averaging 5%-7%;
-- Weighted-average FFO to debt of 20%-24%; and
-- Weighted-average EBITDA interest coverage of 5x-7x.
The negative outlook signifies that S&P would lower the rating on
THY if S&P lowered the local currency sovereign credit rating on
Turkey to 'BBB-' because, under S&P's criteria, it would rate THY
at the level of its SACP if the local currency rating on the
related sovereign was 'BBB-' or lower. S&P could also lower the
rating if THY could not maintain its weighted-average FFO to debt
above 20%, for example because the lira or euro had weakened, or
THY saw weaker-than-anticipated domestic demand and weaker
average ticket prices for international business, causing THY's
2015 revenues to grow by less than 7% and its EBITDA margin to
fall below 13%. S&P could also lower the rating if oil prices
increased to above US$90 per barrel, but the ticket price
environment remained weak, or if THY's liquidity position
weakened, for example, because THY was unable to secure funding
for its significant upcoming capex.
S&P could revise the outlook to stable if it revised the outlook
on Turkey to stable. S&P could also revise the outlook to stable
if it was to revise THY's SACP to 'bb+'. While unlikely, this
could occur if THY were able to achieve and maintain adjusted FFO
to debt above 30%. In S&P's view, this would require stronger
growth in passenger numbers and average ticket price growth than
S&P assumes in its current base case.
=============
U K R A I N E
=============
UKRAINE: Total Losses From Bank Insolvencies Comprise 9% of GDP
---------------------------------------------------------------
According to bne Intellinews, Valery Gontareva, head of the
National Bank of Ukraine, intended to tell Ukraine's parliament
on March 6 in a speech that Ukraine's bankers stole UAH58 billion
from their banks in 2014-2015, state refunds to depositors of
bankrupt banks were equivalent to 10% of total budget revenues,
while total losses from bank insolvencies comprised 9% of GDP.
According to bne, Ms. Gontareva intended to tell Ukraine's
parliament that Ukraine's banking system continues to be wracked
by fraud.
She wrote in the speech that since 2014, illegal actions by
shareholders and managers caused a total of UAH58 billion losses
(US$2.5 billion), prompting 239 criminal investigations, bne
relays.
Ms. Gontareva blamed "the actions of owners of banks which have
been removed from the market" for the recent wave of devaluation,
alongside psychological factors such as the war in East Ukraine
and statements by populist politicians, bne discloses.
Ms. Gontareva, as cited by bne, said a total of 44 banks have
gone bust since 2014, she added, forcing the government to pay
out UAH50 billion (US$2.1 billion) to retail depositors covered
by the state individual depositors' insurance fund -- a sum equal
to 10% of total state revenues. Total losses arising from
insolvencies since 2014 run to UAH200 billion ($0.85 billion), or
9% of GDP, bne states.
VAB BANK: Moody's Extends Review on 'Ca' National Scale Rating
--------------------------------------------------------------
Moody's Investors Service extended the review, with direction
uncertain, of VAB Bank's global scale long-term deposit ratings
of Ca and the bank's National Scale Rating (NSR) of Ca.ua. This
review status was initiated on Nov. 28, 2014.
The extension of the review follows the recent announcement by
the Ukrainian Deposit Guarantee Fund that it would extend the
term of its temporary administration at VAB Bank by one month.
The review, therefore, will continue to focus on the ultimate
resolution scenario and the magnitude of losses for uninsured
depositors.
Moody's decision to extend the rating review process is driven by
the continuing uncertainty surrounding the ultimate resolution
scenario for VAB Bank. On Nov. 20, 2014, the bank was declared
insolvent by the National Bank of Ukraine (NBU), and placed under
temporary administration of the Deposit Guarantee Fund (DGF). On
February 18, the term of temporary administration was extended by
one month until 20 March.
Moody's notes that, in accordance with the Law on the Household
Deposit Guarantee System, the DGF must commence the resolution of
an insolvent bank in one of the following ways: (1) the
liquidation of the bank; (2) the transfer of assets and
liabilities of an insolvent bank to another institution that
assumes the liabilities of the insolvent bank; and (3) the sale
of the insolvent bank to an investor directly or via
incorporation of a bridge bank. According to the aforementioned
law, the Ukrainian government -- represented by the Ministry of
Finance or the state-controlled bank -- can also participate in
the resolution of the insolvent bank.
Depending on the resolution outcome, uninsured depositors could
suffer losses within or outside of the currently anticipated loss
range (35%-65%) commensurate with VAB Bank's Ca rating.
Moody's could downgrade VAB Bank's Ca deposit ratings if the
review concludes that uninsured depositors are likely to suffer
losses that exceed 65% which would not be commensurate with the
current Ca rating range. At the same time, upward rating
pressure, or confirmation of the bank's deposit rating is
possible if the authorities implement a restructuring plan that
limits the imposition of losses to uninsured deposits.
The principal methodology used in these ratings was Global Banks
published in July 2014.
Domiciled in Ukraine, VAB Bank reported total assets of UAH11.4
billion and a negative total equity of UAH7.1 billion as of
Jan. 1, 2015 (in accordance with unaudited local GAAP
financials).
Moody's National Scale Credit Ratings (NSRs) are intended as
relative measures of creditworthiness among debt issues and
issuers within a country, enabling market participants to better
differentiate relative risks. NSRs differ from Moody's global
scale credit ratings in that they are not globally comparable
with the full universe of Moody's rated entities, but only with
NSRs for other rated debt issues and issuers within the same
country. NSRs are designated by a ".nn" country modifier
signifying the relevant country, as in ".za" for South Africa.
For further information on Moody's approach to national scale
credit ratings, please refer to Moody's Credit rating Methodology
published in June 2014 entitled "Mapping Moody's National Scale
Ratings to Global Scale Ratings".
===========================
U N I T E D K I N G D O M
===========================
FRAME WISE: Administrators Put Business Up for Sale
---------------------------------------------------
Joint Administrators John Kelly and Mark Malone offered for sale
an award winning timber frame manufacturing business located in
Presteigne, Wales.
Features of assets for sale are:
-- customer base
-- operating from 2 sites; 75 sq.m. of freehold offices space
and a 2.5 acre leasehold unit with production area,
showroom and offices
-- asset base includes plant and machinery, fixtures and
fittings, intellectual property
-- opportunity to acquire the trade, assets and occupy the
premises on the leasehold/or freehold basis
For further information on the sale, one may get in touch with:
John Kelly
Begbies Traynor (Central) LLP
3rd Floor, Temple Point
1 Temple Row
Birmingham B2 5LG
Tel: 0121 200 8150
Fax: 08436 585746
E-mail: John.Kelly@begbies-traynor.com
MERLIN ENTERTAINMENTS: S&P Revises Outlook & Affirms 'BB' CCR
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised to
positive its outlook on U.K.-based visitor attractions operator
Merlin Entertainments PLC (Merlin). At the same time, it
affirmed its 'BB' corporate credit rating on Merlin, and assigned
'BB' issue ratings and '3' recovery ratings to the company's new
bank facilities and proposed bonds, which form part of the
unsecured refinancing package. S&P's recovery expectations for
these facilities are in the higher half of the 50% to 70% range.
S&P expects the existing secured facilities, which it has
affirmed at 'BB+' with a recovery rating of '2', to be fully
repaid from proceeds of the new, unsecured facilities and/or the
proposed bond. S&P's recovery expectations for the existing
facilities are in the higher half of the 70% to 90% range.
Merlin is Europe's largest visitor attraction operator and has
announced its preliminary results for the year ending Dec. 31,
2014, together with the refinancing of its bank facilities. The
company has agreed new bank facilities equivalent to GBP1.3
billion, some of which may be replaced by the proposed EUR480
million of bonds (equivalent to GBP350 million).
Merlin's results for 2014 show continued solid earnings growth;
it reported EBITDA up by 5.3% based on a 4.9% increase in annual
visitors to 62.8 million and a slight improvement in the EBITDA
margin, to 32.9% from 32.7%. S&P anticipates that these results
will enable the company to reduce debt further, a process that
began with the IPO in November 2013. S&P estimates that, at end-
2014, Merlin's adjusted debt/EBITDA fell to about 3.8x from 4.3x
in the previous year, and that over the same period, adjusted
FFO-to-debt increased to about 17% from 13.1%. However, an
increase in capital expenditure for expansion meant that adjusted
free operating cash flow (FOCF) fell slightly to 6.4%, which is
below our 10% threshold for a higher rating.
S&P considers that there is at least a one-in-three probability
that Merlin's metrics will strengthen in the coming year to
levels S&P considers commensurate with a higher rating. The
company's planned refinancing would facilitate this improvement.
It includes paying down debt by approximately a further GBP130
million from existing balance-sheet cash resources. Other
factors that S&P considers would support a higher rating include
Merlin choosing to adhere to a conservative financial policy and
the operating environment remaining supportive. In S&P's view,
pressure on shareholder returns could reduce following the
recently announced sale by private equity funds CVC and
Blackstone of their remaining shareholdings.
S&P's assessment of Merlin's "satisfactory" business risk profile
is supported by the company's strong diversification in terms of
geography and operations, and its above-average market position
as a leading visitor attractions operator. Merlin's business
risk profile is also strengthened by S&P's view of the company's
track record of above-average profitability and robust earnings.
The visitor attractions industry's notable characteristics, in
S&P's opinion, include its exposure to variable discretionary
consumer spending trends and heavy seasonality. Offsetting these
industry risks are Merlin's high barriers to entry, well-known
brands, and geographically diverse portfolio of indoor and
outdoor attractions. Merlin's growing proportion of revenues
from all-year sites, strong earnings track record, resilience to
economic cycles, and industry-leading margins also help to
counterbalance industry risks.
Merlin's "aggressive" financial risk profile has benefited from
the reduction in private equity ownership following the IPO, and
by significant deleveraging in 2013 and 2014. S&P anticipates
that this deleveraging will continue in 2015, supported by the
upcoming refinancing, and potentially beyond. A track record of
maintaining the existing financial policies in a supportive
operating environment could cause S&P to revise its view of
Merlin's financial risk profile up to "significant." S&P
estimates that Merlin's FFO to debt in 2014 was about 17%, and
that its adjusted debt/EBITDA fell below 4x.
S&P's base case assumes:
-- Revenue growth of about 5% in 2015 and 2016 due to growth
in all three major operating segments.
-- Stable EBITDA margin supported by cost control and good
cash conversion of revenues.
-- Refinancing of bank facilities in March 2015, resulting in
a debt repayment of approximately GBP130 million in 2015.
-- Capex of GBP180 million-GBP230 million in 2015 and 2016.
Based on these assumptions, S&P arrives at these credit measures:
-- Adjusted debt-to-EBITDA of about 3.5x in 2015 and about
3.0x in 2016.
-- Adjusted FFO-to-debt of 18%-19% in 2015 and 20%-21% in
2016.
-- Adjusted FOCF-to-debt of 6%-7% in 2015 and about 10% in
2016.
-- Adjusted EBITDA interest coverage of 4.0x-4.5x in 2015 and
2016.
The positive outlook on Merlin reflects S&P's view of the
company's consistent record of revenue and earnings growth, and
S&P's anticipation that the company could further improve its
credit metrics, supported by a deleveraging strategy and the
upcoming refinancing.
S&P would consider raising the ratings if Merlin were to adhere
to a conservative financial policy and achieve an operational
performance that would allow the company to sustain credit
metrics well into the "significant" financial risk profile
category on a sustainable basis. This means, essentially, an
Standard & Poor's-adjusted debt to EBITDA ratio substantially and
sustainably below 4.0x, an adjusted FFO-to-debt ratio
substantially and sustainably exceeding 20%, and an adjusted free
operating cash flow-to-debt ratio sustainably more than 10%.
S&P would consider a revision of the outlook to stable if the
company's business and financial performance would not allow it
to sustain credit metrics well into the "significant" financial
category. S&P considers lowering the rating to be less likely,
in light of Merlin's improving credits metrics. However, S&P
could lower the ratings if Merlin experiences adverse operating
developments, or if S&P sees signs of Merlin reverting to a more-
aggressive financial policy, for example, if it pursued a large
debt-financed acquisition or paid out high shareholder returns.
Specifically, S&P could lower the ratings if adjusted debt to
EBITDA approached 5x, if adjusted FFO-to-debt fell below 12%, or
if FOCF-to-debt fell below 5%.
WOOLWORTHS AND BONMARCHE: Former Workers 'Left in Limbo' Over Pay
-----------------------------------------------------------------
The Irish Times reports that hundreds of former Woolworths and
Bonmarche workers in Northern Ireland have been left in limbo in
their bid for compensation after the latest round of a legal bid
by their union was lost in Europe.
Union of Shop, Distributive and Allied Workers (USDAW) has been
taking action on behalf of 3,200 former employees of Woolies and
another 1,200 ex-workers at Ethel Austin who received no money
because they worked in stores with fewer than 20 staff when the
retailers both went into administration, according to The Irish
Times.
But an opinion by the Advocate General of the European Court of
Justice has gone against USDAW's case, although a final decision
will be made by the court later this year, the report notes.
And despite the merits of the Usdaw case being described as
"morally and logically robust", affected staff are still none the
wiser as to if -- or when -- they may be compensated, the report
discloses.
"Worker are still in limbo over redundancy consultation
regulations despite this high profile European development,"
according to Paul Gillen, pictured, employment partner at Pinsent
Masons, one of the north's leading experts on employment law, the
report notes.
The report discloses that Mr. Gillen said: "We had the Advocate
General's opinion in the Woolworths case. This is actually a
joint case of USDAW v Ethel Austin Ltd and a case referred to the
European Court by the industrial tribunal in Belfast in the
Bonmarche case (Lyttle v Bluebird UK Bidco 2 Ltd). . . . But the
Advocate General's opinion, although potentially very good news,
will have employers scratching their heads and feeling that they
are again left in limbo not yet knowing whether the old or the
new rules apply."
"The Employment Appeals Tribunal in England ruled in 2013 that
the GB legislation on collective redundancy consultation was not
compatible with EU law and employers must collectively consult
when proposing 20 or more redundancy dismissals in 90 days or
less across its business, regardless of how many being proposed
at any single establishment," Mr. Gillen said, the report relays.
"In Northern Ireland, this was considered by the industrial
tribunal in the Lyttle case which also referred this matter to
the European Court. If the European Court follows the Advocate
General's opinion, which they are not obliged to do, but do so
more often than not, some of the burden of red tape placed on GB
and Northern Ireland businesses will be stripped back," Mr.
Gillen said, the report notes.
"Businesses will be able to revert to previously accepted
position that the numbers of redundancies should be considered at
each establishment and not amalgamated across the entire
organization," the report adds.
The report relays that Mr. Gillen added: "While this is
potentially good news for HR directors now able to reduce time
and money spent on gaining visibility of dismissals across
complex multi-site businesses, it will mean yet another overhaul
of redundancy procedures no less than a year after widespread
changes were made as a result of the original ruling. Indeed
businesses facing difficult times have been involved in more
consultation, more process and, typically, more time and cost.
This could all change if the ECJ now follow the Advocate
General's lead."
"Employers with large multi-site operations such as public
sector, professional services or retail will eagerly await the
ruling but for now though it is a matter of watch this space,"
the report quoted Mr. Gillen as saying.
Woolworths, which had had a high street presence in the UK for 99
years, went into administration at the end of 2007 and pulled
down the shutters at 17 of its Northern Ireland stores in January
2008 with the loss of 410 staff, the report recalls.
The Ethel Austin chain -- whose high street brands in Northern
Ireland included Au Naturale -- went in administration for the
second time in two years in 2010 following an earlier rescue from
collapse in May 2008, the report relays.
Ethel Austin was a Liverpool clothing chain. It went into
administration for the fifth time in January 2013. Insolvency
practice XL Business Solutions was appointed to handle the
administration, the report adds.
* UK: Scottish Bankruptcy at Pre-Recession Levels
-------------------------------------------------
The Scottish Government disclosed that positive news has been
announced in Scotland, as the number of personal bankruptcies is
at its lowest level for nearly a decade. A spokesperson from
Trust Deed Scotland responds to the report.
Scottish bankruptcy figures have fallen to their lowest point
since before the recession, with a total of 2,633 personal
insolvencies for the three months to the end of December. The
figures include bankruptcies and protected trust deeds, which are
12 per cent down on the previous quarter and 21.3 per cent lower
compared to the year before.
The figures haven't been this low since before the global
economic downturn in 2007-08. There was also good news for
Scottish businesses, who suffered fewer liquidations and
receiverships. "It is extremely encouraging to see personal
insolvencies continue to fall year-on-year," claimed business
minister Fergus Ewing.
"Fewer companies going to the wall is also welcome news, as this
means more businesses are contributing to the Scottish economy
and more jobs are being retained. There can be no doubt
insolvencies falling back to pre-recession levels reflects the
improving economic picture in Scotland -- but there is no room
for complacency."
Trust Deed Scotland, a leading provider of debt advice in
Scotland, takes a keen interest in reports such as this. A
spokesperson said: "These figures are very positive and show that
the economy is picking up slightly. It's also great news that
businesses are enjoying a better time, too, as this results in
more jobs and a healthier economy.
"However there's still a long way to go and there are still a lot
of people suffering with money problems. For anybody who feels
like they can't take control of their finances, Trust Deed
Scotland is here to help. Our experts can provide you with
details on how to take control of your debt and inform you of all
of your options, telling you the best route to take next. Give us
a call today and see how we can help you."
Trust Deed Scotland Ltd is a leading debt advisory service for
Scottish residents. They are 100% owned and operated in
Scotland, with a 98% trustpilot rating owing to their free,
qualified debt advice. They are able to advise on the
suitability of Trust Deeds and a number of alternatives,
including The Debt Arrangement Scheme, Debt consolidation and
Sequestration.
* UK: Late Payments Force Businesses to Make Tough Decisions
------------------------------------------------------------
Moorfields Corporate Recovery Ltd. disclosed that latest research
from Bacs Payment Schemes Limited (Bacs) reveals that more than
three quarters (76 per cent) of UK businesses are being forced to
wait at least a month beyond their agreed contract terms before
getting paid.
The knock-on effect of this is that business owners have to make
tough decisions in order to make it through the month. Some 20
per cent of directors, in companies that experience late
payments, say they have taken a cut in salary in order to keep
cash inside their businesses.
Over a quarter (26 per cent) are having to use their overdrafts
to make ends meet and one in ten are experiencing one or more of
the following challenges every month: difficulties in paying
staff on time, factoring invoices and difficulties paying regular
bills. Some 23 per cent claim the late payment situation is
forcing them to pay their own suppliers late.
Phil Orford, chief executive of The Forum of Private Business,
said:
"Late payment remains a key issue for many of our members. These
latest findings from Bacs also suggest it continues to seriously
affect a small business's ability to fund business growth.
"Being paid late or having to deal with longer payment times can
severely hamper any business, large or small. Alarmingly, this
culture of late payment has a ripple effect down the whole supply
chain with many small firms admitting to paying their suppliers
late due to business liquidity issues created by outstanding
payments."
The Bacs research shows that although the overall late payment
burden shouldered by UK companies has fallen, the percentage of
companies affected by late payments is virtually unchanged.
The Bacs figures reveal that SMEs (companies employing fewer than
250 people) are owed GBP32.4 billion -- down from GBP39.4 billion
in January 2014. Corporates (companies employing 250 or more
people) on the other hand are owed around GBP9.1 billion, up from
GBP6.7 billion in January 2014. In total the amount owed in late
payments stands at GBP41.5 billion, down from GBP46.1 billion in
January 2014.
While the overall figure has fallen, the data shows that 59 per
cent of companies surveyed are impacted negatively by late
payments. This is in line with January 2014 findings which
showed the figure standing at 60 per cent.
These difficulties are made worse by the revelation that SMEs are
facing additional costs of around GBP677.00 a month which are
directly attributable to late payments -- this equates to around
GBP8.2 billion a year. Of this, some 63 per cent is associated
with administration time spent chasing late payments, or around
GBP5.2 billion annually.
The average late payment burden shouldered by SMEs now stands at
GBP31,901. This puts many SMEs perilously close to bankruptcy
with GBP50,000 being the maximum that SMEs in the survey say they
could bear before going to the wall. More worryingly, 25 per
cent of SMEs state that GBP20,000 or less is enough to jeopardize
their business prospects.
Larger companies with 250 or more employees are faring little
better. The Bacs research shows that the number of corporates
affected by late payments has remained static (80 per cent) since
the last survey in January 2014.
While almost 40 per cent of businesses are aware of government
measures to help companies minimize their exposure to late
payments, 72 per cent were unconvinced that these measures would
speed up payments to them. And some 59 per cent claimed to be
unaware of these measures.
Mike Hutchinson from Bacs, said: "The ongoing issue of late
payments means that businesses across the UK are facing some
tough choices about how to use the cash available to them. They
are concentrating on keeping their own businesses afloat rather
than paying suppliers, and so the vicious circle continues.
"Taking advantage of automated payments like Direct Debit can go
a long way towards helping companies keep control of their
monthly cash flow and help them manage their outgoings more
efficiently."
* UK: Record Price Deflation Hits Retailers' Margins, KPMG Warns
----------------------------------------------------------------
Commenting on the publication on Feb. 20 of the latest ONS retail
sales figures, Don Williams, retail partner at KPMG said: "With a
more supportive economic back drop helping to increase consumers'
disposable income, UK retailers have seen an encouraging return
on their efforts this month; with a reported year-on-year sales
growth of 4.8 percent by volume. However, there are signs that
this demand has been heavily driven by discounts, as evident by
the record price deflation seen across the sector.
"A concern for all retailers is that without these 'reduced
price' stickers in the shop window, they would have found it
difficult to encourage sales from a customer who remains cautious
and value sensitive. Only time will tell if, by cutting prices
to shore up demand, retailers have damaged their margins and/or
their brands.
"The challenge for retailers now is how to once again make full
price purchases the 'new normal'. Many retailers will be hoping
that, with an environment that sees some limited wage growth
combined with food and fuel prices that continue to fall, many
consumers will have more disposable income so the High Street
will be able to relegate the sale rail, for a while at least."
* UK: Businesses Want Secretary to Rethink Legal Funding Rules
--------------------------------------------------------------
Leading business organizations have written to Justice Secretary
Chris Grayling, urging a last minute re-think on legal funding
rules that could cost creditors in insolvencies GBP160 million
per year, thereby benefitting badly behaved directors.
From April 2015, insolvency litigation will no longer be exempt
from the Legal Aid, Sentencing and Punishment of Offenders
(LASPO) Act. This means, following a business failure, in many
cases it will be almost impossible to fund legal action to
reclaim money for creditors owed to them by directors or third
parties.
The business organizations are calling on the Justice Secretary
to delay the exemption's end until after the election to allow
time for a proper review of the policy.
The letter has been signed by the Federation of Small Businesses,
the British Property Federation, the Chartered Institute of
Credit Management, the Association of Chartered Certified
Accountants, ICAEW, ICAS, and R3, the insolvency trade body.
The letter follows:
An Early Day Motion signed by 60 MPs from the three major parties
calling on the Government to review its decision to end the
exemption;
Calls in the Lords for a review of the decision, which led to
Business minister Baroness Neville-Rolfe promising to review the
Government's policy with the Ministry of Justice;
Research by the University of Wolverhampton that found the
exemption allowed the pursuit of up to GBP300 million per year of
creditors' money, including GBP70 million owed to taxpayers. A
total of GBP160 million a year is successfully returned to
creditors.
Giles Frampton, R3 president, says: "The Government is running
out of time to avoid damaging the fight against fraud and bad
business practice."
"The insolvency exemption puts creditors, including small
businesses and the taxpayer, on a level playing field with those
trying to keep the proceeds of their bad behavior out of reach.
It's vital the Government thinks again. Without an exemption,
creditors' money will stay in the wrong hands."
"The insolvency exemption is the only LASPO exemption that the
Government has not agreed to review since it was granted in 2012.
At the very least, the exemption should be temporarily extended
to allow a review to take place."
As well as insolvency litigation, mesothelioma and defamation
cases were made exempt from the LASPO Act. The Ministry of
Justice was recently ordered by the Court to review its decision
to end the mesothelioma exemption.
John Allan, Federation of Small Businesses National Chairman
says: "There are good reasons for insolvency litigation to remain
exempt from the Legal Aid, Sentencing and Punishment of Offenders
(LASPO) Act. We are deeply concerned that if it is not, many of
the smaller but complex cases taken by smaller firms will never
see their day in court. This will dramatically reduce the amount
of money returned to small business creditors, increase overall
business risk, and unfairly harm smaller suppliers."
Under current rules, a substantial proportion of the costs of
insolvency litigation can be recovered from defendants in
successful cases brought to return money to an insolvent estate
and its creditors. Typically these cases arise because a
business' former director or a third party has acted negligently
or even fraudulently to the detriment of the company. A
significantly reduced ability to reclaim costs would mean that in
most cases, no money would be available to fund the legal action
because it was uneconomic to pursue and there would be no benefit
to creditors.
Giles Frampton adds: "The LASPO Act is based on a review of legal
costs by Lord Justice Jackson. Ironically, the insolvency
litigation exemption achieves everything Jackson hoped the LASPO
Act would achieve."
"It protects the public interest by helping creditors and
discouraging fraud; it protects public money by bringing funds
back to taxpayers; and it keeps legal costs down by encouraging
directors and third parties to settle early with creditors and
avoid expensive legal proceedings."
===============
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 -1456621510 4737064769
AA PLC 1023859D SW -1456621510 4737064769
AA PLC AAL S2 -1456621510 4737064769
AA PLC AA/ TQ -1456621510 4737064769
AA PLC AA/ IX -1456621510 4737064769
AA PLC AAAAL S1 -1456621510 4737064769
AA PLC AA/ EB -1456621510 4737064769
AA PLC 2XA GR -1456621510 4737064769
AA PLC AA/GBX EU -1456621510 4737064769
AA PLC AA/GBX EO -1456621510 4737064769
AA PLC AA/ LN -1456621510 4737064769
AA PLC AA/EUR EO -1456621510 4737064769
AA PLC AAL BQ -1456621510 4737064769
AA PLC AA/EUR EU -1456621510 4737064769
AA PLC AAL L3 -1456621510 4737064769
AA PLC AAL B3 -1456621510 4737064769
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
AEA TECHNOLO-FPR AATF PZ -251538429 142000079.4
AEA TECHNOLO-FPR AATF LN -251538429 142000079.4
AEA TECHNOLO-NPR AATN LN -251538429 142000079.4
AEA TECHNOLO-NPR AATN PZ -251538429 142000079.4
AEA TECHNOLOGY AAT PO -251538429 142000079.4
AEA TECHNOLOGY AAT IX -251538429 142000079.4
AEA TECHNOLOGY EAETF US -251538429 142000079.4
AEA TECHNOLOGY AAT VX -251538429 142000079.4
AEA TECHNOLOGY G AAT LN -251538429 142000079.4
AEA TECHNOLOGY G 0884036D EU -251538429 142000079.4
AEA TECHNOLOGY G AAT PZ -251538429 142000079.4
AEA TECHNOLOGY G AEATF US -251538429 142000079.4
AEA TECHNOLOGY G 1005182D GR -251538429 142000079.4
AEA TECHNOLOGY G AATGBP EO -251538429 142000079.4
AEA TECHNOLOGY G 0884037D EO -251538429 142000079.4
AEGEK AEGEK EU -128229637.2 337519032.3
AEGEK AEGEK GA -128229637.2 337519032.3
AEGEK AGEKF US -128229637.2 337519032.3
AEGEK AEGEK EO -128229637.2 337519032.3
AEGEK AGK GR -128229637.2 337519032.3
AEGEK AEGEK PZ -128229637.2 337519032.3
AEGEK S.A. AEGEKY B3 -128229637.2 337519032.3
AEGEK S.A. AEGEKY S2 -128229637.2 337519032.3
AEGEK S.A. AEGEKY L3 -128229637.2 337519032.3
AEGEK S.A. - RTS 989399Q GA -128229637.2 337519032.3
AEGEK S.A.-RTS AEGEPR GA -128229637.2 337519032.3
AEGEK S.A.-RTS AEGEKR GA -128229637.2 337519032.3
AEGEK SA-AUCTION AEGEKE GA -128229637.2 337519032.3
AEGEK-PFD 2733077Q EO -128229637.2 337519032.3
AEGEK-PFD AEGEP PZ -128229637.2 337519032.3
AEGEK-PFD 2733073Q EU -128229637.2 337519032.3
AEGEK-PFD AEGEP GA -128229637.2 337519032.3
AEGEK-PFD AUCTIO AEGEPE GA -128229637.2 337519032.3
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 PTZ GR -110809481.9 206423169.8
AG PETZETAKIS SA PETZK EO -110809481.9 206423169.8
AG PETZETAKIS SA PETZK PZ -110809481.9 206423169.8
AG PETZETAKIS SA PETZK EU -110809481.9 206423169.8
AG PETZETAKIS SA PETZK GA -110809481.9 206423169.8
AGOR AG DOO EU -482467.0522 144438127.4
AGOR AG NDAGF US -482467.0522 144438127.4
AGOR AG DOOG IX -482467.0522 144438127.4
AGOR AG DOO EO -482467.0522 144438127.4
AGOR AG DOOD PZ -482467.0522 144438127.4
AGOR AG DOO S1 -482467.0522 144438127.4
AGOR AG DOO GR -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 AB1GBP EO -139659058.8 2886844064
AIR BERLIN PLC AB1 PZ -139659058.8 2886844064
AIR BERLIN PLC AB1 TH -139659058.8 2886844064
AIR BERLIN PLC AB1 GR -139659058.8 2886844064
AIR BERLIN PLC AB1 EU -139659058.8 2886844064
AIR BERLIN PLC AB1 TQ -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 AB1GBX EO -139659058.8 2886844064
AIR BERLIN PLC AB1D L3 -139659058.8 2886844064
AIR BERLIN PLC ABOG IX -139659058.8 2886844064
AIR BERLIN PLC AB1D S2 -139659058.8 2886844064
AIR BERLIN PLC AB1 IX -139659058.8 2886844064
AIR BERLIN PLC AB1 QT -139659058.8 2886844064
AIR BERLIN PLC AB1 BQ -139659058.8 2886844064
AIR BERLIN PLC AB1GBX EU -139659058.8 2886844064
AIR BERLIN PLC AB1D B3 -139659058.8 2886844064
AIR BERLIN PLC AB1 SW -139659058.8 2886844064
AIR BERLIN PLC AB1 EO -139659058.8 2886844064
AIR BERLIN PLC AB1 S1 -139659058.8 2886844064
AIR BERLIN PLC AB1 EB -139659058.8 2886844064
AIR COMMAND SYST 4470055Z FP -30657158.94 217998392.9
AIR FRA-KLM-ADR AFLYY US -316987898.7 28753708376
AIR FRA-KLM-ADR AKH US -316987898.7 28753708376
AIR FRA-KLM-ADR FQZ GR -316987898.7 28753708376
AIR FRAN-PAR ENT 2246976Z US -316987898.7 28753708376
AIR FRANCE AIFRF US -316987898.7 28753708376
AIR FRANCE-ADR W AKH-W US -316987898.7 28753708376
AIR FRANCE-KLM AF EB -316987898.7 28753708376
AIR FRANCE-KLM AFUSD EO -316987898.7 28753708376
AIR FRANCE-KLM AFUSD EU -316987898.7 28753708376
AIR FRANCE-KLM AF QM -316987898.7 28753708376
AIR FRANCE-KLM AIRF LI -316987898.7 28753708376
AIR FRANCE-KLM AFP B3 -316987898.7 28753708376
AIR FRANCE-KLM AF EO -316987898.7 28753708376
AIR FRANCE-KLM AF PZ -316987898.7 28753708376
AIR FRANCE-KLM AFCHF EO -316987898.7 28753708376
AIR FRANCE-KLM AFCHF EU -316987898.7 28753708376
AIR FRANCE-KLM AFGBX EU -316987898.7 28753708376
AIR FRANCE-KLM AF SW -316987898.7 28753708376
AIR FRANCE-KLM AFR GR -316987898.7 28753708376
AIR FRANCE-KLM AF MT -316987898.7 28753708376
AIR FRANCE-KLM AF QX -316987898.7 28753708376
AIR FRANCE-KLM AF EU -316987898.7 28753708376
AIR FRANCE-KLM AF TE -316987898.7 28753708376
AIR FRANCE-KLM AFNV FP -316987898.7 28753708376
AIR FRANCE-KLM AFP L3 -316987898.7 28753708376
AIR FRANCE-KLM AFRAF US -316987898.7 28753708376
AIR FRANCE-KLM AF FP -316987898.7 28753708376
AIR FRANCE-KLM AFP S2 -316987898.7 28753708376
AIR FRANCE-KLM AIKL IX -316987898.7 28753708376
AIR FRANCE-KLM AF VX -316987898.7 28753708376
AIR FRANCE-KLM AF BQ -316987898.7 28753708376
AIR FRANCE-KLM AFGBP EO -316987898.7 28753708376
AIR FRANCE-KLM AIRF IX -316987898.7 28753708376
AIR FRANCE-KLM AF TQ -316987898.7 28753708376
AIR FRANCE-KLM AFGBX EO -316987898.7 28753708376
AIR FRANCE-KLM AFR TH -316987898.7 28753708376
AIR FRANCE-KLM AFA NA -316987898.7 28753708376
AIR FRANCE-KLM AFR QT -316987898.7 28753708376
AIR FRANCE-KLM AF NQ -316987898.7 28753708376
AIR FRANCE-KLM AF S1 -316987898.7 28753708376
AIR FRANCE-KLM AF GK -316987898.7 28753708376
AIR FRANCE-NEW AFNN FP -316987898.7 28753708376
AIR FRANCE-OLD 1010Q FP -316987898.7 28753708376
AIRBUS MILITARY 4456697Z SM -48974067.1 2049792335
AIRBUS OPERATION 4435153Z LN -622881599.4 5619187195
AIRTOURS PLC ATORF US -379731744 1817560463
AIRTOURS PLC AIR LN -379731744 1817560463
AIRTOURS PLC AIR VX -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 EU -16100000 765200000
AKER FLOATING PR AKFP BY -16100000 765200000
AKER FLOATING PR AKNO IX -16100000 765200000
AKER FLOATING PR AKFP PZ -16100000 765200000
AKER FLOATING PR AKFPEUR EU -16100000 765200000
AKER FLOATING PR AKFP NO -16100000 765200000
AKER FLOATING PR AKFPEUR EO -16100000 765200000
AKER FLOATING PR AKFP EO -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 FFEFD L3 -1446551773 135183840.6
ALAPIS HOLDING I VTERF US -1446551773 135183840.6
ALAPIS HOLDING I ALAPIS EU -1446551773 135183840.6
ALAPIS HOLDING I FFEFD B3 -1446551773 135183840.6
ALAPIS HOLDING I V2R GR -1446551773 135183840.6
ALAPIS HOLDING I VETER GA -1446551773 135183840.6
ALAPIS HOLDING I FFE GR -1446551773 135183840.6
ALAPIS HOLDING I FFEFD S2 -1446551773 135183840.6
ALAPIS R-R ALAPV10 GA -1446551773 135183840.6
ALAPIS REPO ALAPL10 GA -1446551773 135183840.6
ALAPIS SA FFEF GR -1446551773 135183840.6
ALAPIS SA ALAPI EO -1446551773 135183840.6
ALAPIS SA FFEB GR -1446551773 135183840.6
ALAPIS SA ALAPI EU -1446551773 135183840.6
ALAPIS SA ALAPIS GA -1446551773 135183840.6
ALAPIS SA APSHF US -1446551773 135183840.6
ALAPIS SA ALAPIS PZ -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 EO -67350276.85 175193779.3
ALPOS DD APOG SV -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 EH3 GR -33856000 252476000
AMARIN CORP -ADR EH3A GR -33856000 252476000
AMARIN CORP -ADR EH3A TH -33856000 252476000
AMARIN CORP -ADR AMRND US -33856000 252476000
AMARIN CORP -ADR AMRN US -33856000 252476000
AMARIN CORP PLC H2EA GR -33856000 252476000
AMARIN CORP PLC H2E PZ -33856000 252476000
AMARIN CORP PLC AMRN PO -33856000 252476000
AMARIN CORP PLC AMRJF US -33856000 252476000
AMARIN CORP PLC H2E GR -33856000 252476000
AMARIN CORP PLC AMRN ID -33856000 252476000
AMARIN CORP PLC AMRNF EU -33856000 252476000
AMARIN CORP PLC AMRN LN -33856000 252476000
AMARIN CORP PLC AMRNF US -33856000 252476000
AMARIN CORP PLC AMRNF EO -33856000 252476000
AMER BUS SYS ARB LN -497126976 121439000
AMEY PLC AMY LN -48862569.33 931527720.5
AMEY PLC AMEYF US -48862569.33 931527720.5
AMEY PLC AMY VX -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 ZILL RU -237320797.3 371525868.1
AMO ZIL-CLS ZILLG RU -237320797.3 371525868.1
AMO ZIL-CLS ZILL RM -237320797.3 371525868.1
AMPER SA AMP SM -85714285.55 423171277.5
AMPER SA AMPS PZ -85714285.55 423171277.5
AMPER SA AMPE B3 -85714285.55 423171277.5
AMPER SA AMP1 IX -85714285.55 423171277.5
AMPER SA AMP1 EO -85714285.55 423171277.5
AMPER SA AMPE S2 -85714285.55 423171277.5
AMPER SA APMRF US -85714285.55 423171277.5
AMPER SA APR GR -85714285.55 423171277.5
AMPER SA AMPE L3 -85714285.55 423171277.5
AMPER SA AMP1 EU -85714285.55 423171277.5
AMPER SA AMP1 S1 -85714285.55 423171277.5
AMPER SA AMP1 EB -85714285.55 423171277.5
AMPER SA AMP1 TQ -85714285.55 423171277.5
AMPER SA - RTS APRA GR -85714285.55 423171277.5
AMPER SA - RTS 0881324D SM -85714285.55 423171277.5
AMPER SA - RTS AMP/D SM -85714285.55 423171277.5
AMTEL-POVOLZ-BRD KIRT* RU -17984240.01 104831160.6
AMTEL-POVOLZ-BRD KIRT RU -17984240.01 104831160.6
ANEK LINES P-RTS ANEPR GA -2285848.991 469901082.9
ANEK LINES P-RTS ANEPOR GA -2285848.991 469901082.9
ANEK LINES PFD/I ANEPY L3 -2285848.991 469901082.9
ANEK LINES PFD/I ANEPY S2 -2285848.991 469901082.9
ANEK LINES PFD/I ANEPOY S2 -2285848.991 469901082.9
ANEK LINES PFD/I ANEPOY B3 -2285848.991 469901082.9
ANEK LINES PFD/I ANEPY B3 -2285848.991 469901082.9
ANEK LINES PFD/I ANEPOY 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 EO -2285848.991 469901082.9
ANEK LINES SA ANEKY B3 -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 AKLP GR -2285848.991 469901082.9
ANEK LINES SA ANEK EU -2285848.991 469901082.9
ANEK LINES SA ANKZF US -2285848.991 469901082.9
ANEK LINES SA AKL GR -2285848.991 469901082.9
ANEK LINES SA ANEK PZ -2285848.991 469901082.9
ANEK LINES SA ANEK GA -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 EO -2285848.991 469901082.9
ANEK LINES-PFD ANEP PZ -2285848.991 469901082.9
ANEK LINES-PFD ANEPO EO -2285848.991 469901082.9
ANEK LINES-PFD ANEPO GA -2285848.991 469901082.9
ANEK LINES-PFD ANEP GA -2285848.991 469901082.9
ANEK LINES-PFD ANEPO EU -2285848.991 469901082.9
ANEK LINES-PFD ANEP EU -2285848.991 469901082.9
ANKER PLC DW14 GR -21861359.81 115463159
ANKER PLC ANK LN -21861359.81 115463159
ANKER PLC ANK PO -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
ARGEK SA-PFD RTS 989391Q GA -128229637.2 337519032.3
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 -24369568.25 184435792.3
ARTICON-INTE-NEW AAG3 GR -24369568.25 184435792.3
ARTICON-INTE-RTS AAG8 NM -24369568.25 184435792.3
ARTICON-INTE-RTS AAG8 GR -24369568.25 184435792.3
ARTICON-INTEGR-N AAG2 GR -24369568.25 184435792.3
ARTICON-INTEGRAL AAG GR -24369568.25 184435792.3
ARTICON-INTEGRAL AAG NM -24369568.25 184435792.3
ARTICON-INTEGRAL 229071Q LN -24369568.25 184435792.3
ARTICON-INTEGRAL AAGN NM -24369568.25 184435792.3
ARTICON-INTEGRAL AIT LI -24369568.25 184435792.3
AS ROMA SPA ASRM S2 -85788785.33 226242789.1
AS ROMA SPA ASR PZ -85788785.33 226242789.1
AS ROMA SPA RO9 GR -85788785.33 226242789.1
AS ROMA SPA ASRM L3 -85788785.33 226242789.1
AS ROMA SPA ASR S1 -85788785.33 226242789.1
AS ROMA SPA ASRO IX -85788785.33 226242789.1
AS ROMA SPA ASR IM -85788785.33 226242789.1
AS ROMA SPA ASR QM -85788785.33 226242789.1
AS ROMA SPA ASR IX -85788785.33 226242789.1
AS ROMA SPA ASR BQ -85788785.33 226242789.1
AS ROMA SPA ASR TQ -85788785.33 226242789.1
AS ROMA SPA ASR EO -85788785.33 226242789.1
AS ROMA SPA ASRM B3 -85788785.33 226242789.1
AS ROMA SPA ASR EB -85788785.33 226242789.1
AS ROMA SPA ASR EU -85788785.33 226242789.1
AS ROMA SPA ASRAF US -85788785.33 226242789.1
AS ROMA SPA RTS ASRAZM TQ -85788785.33 226242789.1
AS ROMA SPA RTS ASRAZEUR EU -85788785.33 226242789.1
AS ROMA SPA RTS ASRAZEUR EO -85788785.33 226242789.1
AS ROMA SPA RTS ASRAXM EB -85788785.33 226242789.1
AS ROMA SPA RTS ASRAZA IM -85788785.33 226242789.1
AS ROMA SPA RTS ASRAXM IX -85788785.33 226242789.1
AS ROMA SPA-RTS ASRAA IM -85788785.33 226242789.1
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 839325Q GA -46224213.41 3486115450
ASPIS BANK-RTS ASPTR GA -46224213.41 3486115450
ASPIS BANK-RTS 3558423Q 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 EO -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 ASASK GA -189911036.1 896550129.3
ASPIS PRONIA GE AISQF US -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
ATENTO SA A37 GR -163483008 1824224000
ATENTO SA ATTO US -163483008 1824224000
ATENTO SA 0978340D US -163483008 1824224000
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
ATTENDO AB 4452873Z SS -58148254.8 1244996881
ATTI-KAT ATTIK PZ -55768255.84 212042081.7
ATTI-KAT ATTIK EO -55768255.84 212042081.7
ATTI-KAT XTT GR -55768255.84 212042081.7
ATTI-KAT ATTIK EU -55768255.84 212042081.7
ATTI-KAT ATTIK GA -55768255.84 212042081.7
ATTI-KAT RTS ATTID GA -55768255.84 212042081.7
ATTI-KAT SA-AUCT ATIKE GA -55768255.84 212042081.7
ATTIKAT S.A. ATTIKY L3 -55768255.84 212042081.7
ATTIKAT S.A. ATTIKY S2 -55768255.84 212042081.7
ATTIKAT S.A. ATTIKY B3 -55768255.84 212042081.7
ATTIKAT-AUCTION ATTIKE GA -55768255.84 212042081.7
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-INDUSTRIAL 3482374Z PL -3916462.237 125097850.1
AUTOMOBILE ASSOC 1479490Z LN -75794419.73 215975911.6
AUTOMOBILE CO BO 0850360D US -15178297.19 338769266.4
AUTOMOBILES CITR 3648863Z FP -125854259.5 1955037586
AUTOMOTIVE LIGHT 3895734Z IM -8707502.577 163886427.3
AUTOROUTES PARIS ARR QM -89943297.24 11659772905
AUTOROUTES PARIS RK9 TH -89943297.24 11659772905
AUTOROUTES PARIS ARR FP -89943297.24 11659772905
AUTOROUTES PARIS ARR S1 -89943297.24 11659772905
AUTOROUTES PARIS ARR EO -89943297.24 11659772905
AUTOROUTES PARIS ARR LI -89943297.24 11659772905
AUTOROUTES PARIS ARR1 BQ -89943297.24 11659772905
AUTOROUTES PARIS ARR EB -89943297.24 11659772905
AUTOROUTES PARIS ARR IX -89943297.24 11659772905
AUTOROUTES PARIS ARRGBX EU -89943297.24 11659772905
AUTOROUTES PARIS ARR TQ -89943297.24 11659772905
AUTOROUTES PARIS ARR EU -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
AVIVA SIGOR-RTS 0611623D TI -16454562.45 171412349.4
AVIVA SIGOR-RTS AVIVAR TI -16454562.45 171412349.4
AVIVA SIGOR-RTS COMUNR TI -16454562.45 171412349.4
AVIVA SIGORT-AUC AVIVAM TI -16454562.45 171412349.4
AVIVA SIGORTA AS COMUN TI -16454562.45 171412349.4
AVIVA SIGORTA AS AVIVA TI -16454562.45 171412349.4
AXON SA HOLDING AXON EU -152874856.3 798844287.7
AXON SA HOLDING AXON GA -152874856.3 798844287.7
AXON SA HOLDING AXONR GA -152874856.3 798844287.7
AXON SA HOLDING AXONY B3 -152874856.3 798844287.7
AXON SA HOLDING AYW GR -152874856.3 798844287.7
AXON SA HOLDING AXON PZ -152874856.3 798844287.7
AXON SA HOLDING AYW1 GR -152874856.3 798844287.7
AXON SA HOLDING AXONY S2 -152874856.3 798844287.7
AXON SA HOLDING AXONY L3 -152874856.3 798844287.7
AXON SA HOLDING AXON EO -152874856.3 798844287.7
AYCO GRUPO INMOB ACZ2 EU -51579811.42 102788623.8
AYCO GRUPO INMOB ACZ EU -51579811.42 102788623.8
AYCO GRUPO INMOB AYC SM -51579811.42 102788623.8
AYCO GRUPO INMOB AYCE B3 -51579811.42 102788623.8
AYCO GRUPO INMOB AYCE S2 -51579811.42 102788623.8
AYCO GRUPO INMOB AYCE L3 -51579811.42 102788623.8
AYCO GRUPO INMOB ACZ SM -51579811.42 102788623.8
AYCO GRUPO INMOB AYC EU -51579811.42 102788623.8
AYCO GRUPO INMOB ACZ PZ -51579811.42 102788623.8
AYCO GRUPO INMOB ACZ EO -51579811.42 102788623.8
AZOT CHERKASY AZOT UZ -144125969.1 731869410.6
AZOT CHERKASY AZCYF US -144125969.1 731869410.6
AZOT OPEN-GDR A9T GR -144125969.1 731869410.6
AZOVZAGALMASH MA AZGM UZ -201003976.4 323492277.6
B&M EUROPEAN BME1GBP EO -31468050.5 2018470277
B&M EUROPEAN BME1 S1 -31468050.5 2018470277
B&M EUROPEAN BME1GBX EO -31468050.5 2018470277
B&M EUROPEAN BME1GBX EU -31468050.5 2018470277
B&M EUROPEAN BME1GBP EU -31468050.5 2018470277
B&M EUROPEAN BME1USD EO -31468050.5 2018470277
B&M EUROPEAN BMEL B3 -31468050.5 2018470277
B&M EUROPEAN BME1EUR EO -31468050.5 2018470277
B&M EUROPEAN BMEL L3 -31468050.5 2018470277
B&M EUROPEAN BME1USD EU -31468050.5 2018470277
B&M EUROPEAN BMEL BQ -31468050.5 2018470277
B&M EUROPEAN BME1EUR EU -31468050.5 2018470277
B&M EUROPEAN BMEL TQ -31468050.5 2018470277
B&M EUROPEAN BMEL S2 -31468050.5 2018470277
B&M EUROPEAN BMEL IX -31468050.5 2018470277
B&M EUROPEAN BME LN -31468050.5 2018470277
B&M EUROPEAN BMEL EB -31468050.5 2018470277
B&M EUROPEAN BMN GR -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 GR -7854715.264 609871188.9
BAAN COMPANY NV BAAN IX -7854715.264 609871188.9
BAAN COMPANY NV BAAN EO -7854715.264 609871188.9
BAAN COMPANY NV BAAVF US -7854715.264 609871188.9
BAAN COMPANY NV BAAN 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-NY BAANF US -7854715.264 609871188.9
BADEL 1862 DD BD62RHRK EU -1388203.083 121963475
BADEL 1862 DD BD62REUR EU -1388203.083 121963475
BADEL 1862 DD BD62RA CZ -1388203.083 121963475
BADEL 1862 DD BD62RHRK EO -1388203.083 121963475
BADEL 1862 DD BD62REUR 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 -36867.13928 131874844.6
BENFICA SLBEN EB -30963605.34 541880660.6
BENFICA SLBEN EU -30963605.34 541880660.6
BENFICA SLBENX PX -30963605.34 541880660.6
BENFICA SLBEN TQ -30963605.34 541880660.6
BENFICA SLBEN PZ -30963605.34 541880660.6
BENFICA SLBE IX -30963605.34 541880660.6
BENFICA SLBEN BQ -30963605.34 541880660.6
BENFICA SLBEN EO -30963605.34 541880660.6
BENFICA SLBEN PL -30963605.34 541880660.6
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 -24128624.26 169294641.8
BIOTER BIOT GA -24128624.26 169294641.8
BIOTER BIOT1 EU -24128624.26 169294641.8
BIOTER BIOTG PZ -24128624.26 169294641.8
BIOTER S.A. BIOTY S2 -24128624.26 169294641.8
BIOTER S.A. BIOTY B3 -24128624.26 169294641.8
BIOTER S.A. BIOTY L3 -24128624.26 169294641.8
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 LN -10242626.17 103637711.2
BNB RECRUITMENT BNBRF US -10242626.17 103637711.2
BNB RECRUITMENT BQX GR -10242626.17 103637711.2
BNB RECRUITMENT BNB IX -10242626.17 103637711.2
BNB RECRUITMENT BNB PO -10242626.17 103637711.2
BNP GUYANE BNPG FP -40559116.42 352047398.5
BOGDAN MOTORS LUAZ UZ -15178297.19 338769266.4
BORGELD MANAGEME 4778257Z NA -81821.40017 246378742
BPM IRELAND PLC 4471855Z ID -4595616.014 844447724
BRADSTOCK GROUP BDK LN -1855503.819 268572388.5
BRADSTOCK GROUP BSKGF US -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 -591993486.3 39801425493
BRIT TELECOM BTE GR -591993486.3 39801425493
BRIT TELECOM PLC BTPWF US -591993486.3 39801425493
BRIT TELECOM PLC BTPLF US -591993486.3 39801425493
BRIT TELECOM PLC BT/A VX -591993486.3 39801425493
BRIT TELECOM-ADR 1481Q CN -591993486.3 39801425493
BRIT TELECOM-ADR BTEA GR -591993486.3 39801425493
BRIT TELECOM-RTS BTY-R US -591993486.3 39801425493
BRITISH TELE-FP BT/F LN -591993486.3 39801425493
BRITISH TELE-NP BTPXF US -591993486.3 39801425493
BRITISH TELE-NP BT/N LN -591993486.3 39801425493
BRIXTON GREAT WE 1242343Z LN -23721760.45 160921160.6
BROKAT AG BRKAF US -27134800.92 143511443.1
BROKAT AG BROFQ US -27134800.92 143511443.1
BROKAT AG BROAF US -27134800.92 143511443.1
BROKAT AG BKISF 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/APEN EU -591993486.3 39801425493
BT GROUP PLC BT/A EB -591993486.3 39801425493
BT GROUP PLC BT/A EO -591993486.3 39801425493
BT GROUP PLC BT IX -591993486.3 39801425493
BT GROUP PLC BT/A2 EO -591993486.3 39801425493
BT GROUP PLC BTQ GK -591993486.3 39801425493
BT GROUP PLC BT/ VX -591993486.3 39801425493
BT GROUP PLC BTGOF US -591993486.3 39801425493
BT GROUP PLC BTQD B3 -591993486.3 39801425493
BT GROUP PLC BTQD S2 -591993486.3 39801425493
BT GROUP PLC BTQD L3 -591993486.3 39801425493
BT GROUP PLC BT/AEUR EO -591993486.3 39801425493
BT GROUP PLC BTL S2 -591993486.3 39801425493
BT GROUP PLC BT/AGBP EO -591993486.3 39801425493
BT GROUP PLC BT/AUSD EO -591993486.3 39801425493
BT GROUP PLC BT PZ -591993486.3 39801425493
BT GROUP PLC BTQ GR -591993486.3 39801425493
BT GROUP PLC BT/A7 EO -591993486.3 39801425493
BT GROUP PLC BT/A TQ -591993486.3 39801425493
BT GROUP PLC BT/A S1 -591993486.3 39801425493
BT GROUP PLC BTEG IX -591993486.3 39801425493
BT GROUP PLC BT/A8 EO -591993486.3 39801425493
BT GROUP PLC BT/A6 EO -591993486.3 39801425493
BT GROUP PLC BT/A QM -591993486.3 39801425493
BT GROUP PLC BTL L3 -591993486.3 39801425493
BT GROUP PLC BT QX -591993486.3 39801425493
BT GROUP PLC BT/A NQ -591993486.3 39801425493
BT GROUP PLC BT/A NR -591993486.3 39801425493
BT GROUP PLC BT/A BQ -591993486.3 39801425493
BT GROUP PLC BT/A1 EO -591993486.3 39801425493
BT GROUP PLC BT/AEUR EU -591993486.3 39801425493
BT GROUP PLC BT/A PO -591993486.3 39801425493
BT GROUP PLC BT/A EU -591993486.3 39801425493
BT GROUP PLC BT/ EO -591993486.3 39801425493
BT GROUP PLC BTQ TH -591993486.3 39801425493
BT GROUP PLC BT/AUSD EU -591993486.3 39801425493
BT GROUP PLC BTQ QT -591993486.3 39801425493
BT GROUP PLC BT/APEN EO -591993486.3 39801425493
BT GROUP PLC BT/A9 EO -591993486.3 39801425493
BT GROUP PLC BT/A LN -591993486.3 39801425493
BT GROUP PLC BTL B3 -591993486.3 39801425493
BT GROUP PLC BT/A3 EO -591993486.3 39801425493
BT GROUP PLC BT/A5 EO -591993486.3 39801425493
BT GROUP PLC BT/A4 EO -591993486.3 39801425493
BT GROUP PLC-ADR BT/$ LN -591993486.3 39801425493
BT GROUP PLC-W/I BTWI LN -591993486.3 39801425493
BT GROUP-ADR WI BTY-W US -591993486.3 39801425493
BT GROUP-CED BLK BTYB AR -591993486.3 39801425493
BT GROUP-CEDEAR BTB AR -591993486.3 39801425493
BT GROUP-CEDEAR BTD AR -591993486.3 39801425493
BT GROUP-CEDEAR BTYD AR -591993486.3 39801425493
BT GROUP-CEDEAR BTYC AR -591993486.3 39801425493
BT GROUP-CEDEAR BTC AR -591993486.3 39801425493
BT GROUP-CEDEAR BT AR -591993486.3 39801425493
BT GROUP-CEDEAR BTY AR -591993486.3 39801425493
BT GROUP-SPON AD BT US -591993486.3 39801425493
BT GROUP-SPON AD BTYN MM -591993486.3 39801425493
BT GROUP-SPON AD BT MM -591993486.3 39801425493
BT GROUP-SPON AD BTY US -591993486.3 39801425493
BT GROUP-SPON AD BTN MM -591993486.3 39801425493
BT GROUP-SPON AD BTQA GR -591993486.3 39801425493
BUMMASH OJSC-BRD BUMM RU -69176738.75 114087108.1
BUMMASH OJSC-BRD BUMM* RU -69176738.75 114087108.1
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
CARREFOUR HYPERM 3897338Z FP -298103085.1 3834434516
CARRERE GROUP XRR GR -9829883.833 279916720.4
CARRERE GROUP CARF PZ -9829883.833 279916720.4
CARRERE GROUP CARG FP -9829883.833 279916720.4
CARRERE GROUP CRGP IX -9829883.833 279916720.4
CARRERE GROUP CRRHF US -9829883.833 279916720.4
CARRERE GROUP CAR2 EU -9829883.833 279916720.4
CARRERE GROUP CAR2 EO -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 1253Z SW -94729000 472360992
CARRIER1 INTL SA CONEF US -94729000 472360992
CATTLES PLC CTTEUR EO -599615492.2 3880885246
CATTLES PLC CTT LN -599615492.2 3880885246
CATTLES PLC 0963776D TQ -599615492.2 3880885246
CATTLES PLC CHOXF US -599615492.2 3880885246
CATTLES PLC CTT EO -599615492.2 3880885246
CATTLES PLC CTTSEK EU -599615492.2 3880885246
CATTLES PLC CTT VX -599615492.2 3880885246
CATTLES PLC CZS GR -599615492.2 3880885246
CATTLES PLC 0915790D EB -599615492.2 3880885246
CATTLES PLC CTTGBP EO -599615492.2 3880885246
CATTLES PLC CTT QM -599615492.2 3880885246
CATTLES PLC CTTUSD EO -599615492.2 3880885246
CATTLES PLC CTTSEK EO -599615492.2 3880885246
CATTLES PLC 0915787D IX -599615492.2 3880885246
CATTLES PLC CTT PO -599615492.2 3880885246
CATTLES PLC CTT NR -599615492.2 3880885246
CATTLES PLC CTT NQ -599615492.2 3880885246
CATTLES PLC 0960894D BQ -599615492.2 3880885246
CATTLES PLC CTT EU -599615492.2 3880885246
CATTLES PLC CTTEUR EU -599615492.2 3880885246
CATTLES PLC CTT PZ -599615492.2 3880885246
CATTLES PLC CTTUSD 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 2843734Q EO -599615492.2 3880885246
CATTLES PLC-NPR 2843726Q EO -599615492.2 3880885246
CATTLES PLC-NPR CTTN IX -599615492.2 3880885246
CATTLES PLC-NPR 2843730Q EU -599615492.2 3880885246
CATTLES PLC-NPR CTTN LN -599615492.2 3880885246
CATTLES PLC-NPR CCTN PZ -599615492.2 3880885246
CATTLES PLC-NPR CTTN PZ -599615492.2 3880885246
CATTLES PLC-RFD CTTR IX -599615492.2 3880885246
CATTLES PLC-RFD CTTR PZ -599615492.2 3880885246
CATTLES PLC-RFD CTTR LN -599615492.2 3880885246
CB RICHARD ELLIS 1984326Z LN -15005194.54 101088170.4
CDISCOUNT SA 4690913Z FP -14710509.37 442569172
CECON AS CCON NO -6096919.752 284742373.3
CECON AS CECNI IX -6096919.752 284742373.3
CECON ASA CECONO L3 -6096919.752 284742373.3
CECON ASA CECONO S2 -6096919.752 284742373.3
CECON ASA CECONO B3 -6096919.752 284742373.3
CECON ASA CECON TQ -6096919.752 284742373.3
CECON ASA 4GUD B3 -6096919.752 284742373.3
CECON ASA 4GUD L3 -6096919.752 284742373.3
CECON ASA CECON BY -6096919.752 284742373.3
CECON ASA 4GU GR -6096919.752 284742373.3
CECON ASA CECON NO -6096919.752 284742373.3
CECON ASA CECONEUR EO -6096919.752 284742373.3
CECON ASA CECON EO -6096919.752 284742373.3
CECON ASA CECON SS -6096919.752 284742373.3
CECON ASA CECON EU -6096919.752 284742373.3
CECON ASA 4GUD S2 -6096919.752 284742373.3
CECON ASA CECON PZ -6096919.752 284742373.3
CECON ASA CECONEUR EU -6096919.752 284742373.3
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 CEBAPA CZ -3853841.592 180958181.1
CENTAR BANKA D.D CEBAPHRK EU -3853841.592 180958181.1
CENTAR BANKA DD CEBARHRK EU -3853841.592 180958181.1
CENTAR BANKA DD CEBARA CZ -3853841.592 180958181.1
CENTAR BANKA DD CEBARHRK EO -3853841.592 180958181.1
CENTER PARCS EUR 235619Z NA -6141720.638 682887891.2
CENTRAL EURO DIS CEM GR -319755008 1107515008
CENTRAL EURO DIS CEDCEUR EU -319755008 1107515008
CENTRAL EURO DIS CEDCEUR EO -319755008 1107515008
CENTRAL EURO DIS CDC PW -319755008 1107515008
CENTRAL EURO DIS CEDCPLN EO -319755008 1107515008
CENTRAL EURO DIS CTL LI -319755008 1107515008
CENTRAL EURO DIS CEDC EU -319755008 1107515008
CENTRAL EURO DIS CDC PZ -319755008 1107515008
CENTRAL EURO DIS CEDCPLN EU -319755008 1107515008
CENTRAL EURO DIS CEDC LI -319755008 1107515008
CENTRAL EURO DIS CEDC US -319755008 1107515008
CENTRAL EURO DIS CEDCQ US -319755008 1107515008
CENTRAL EURO DIS CEDC EO -319755008 1107515008
CENTRAL EUROPEAN 3276402Z NA -4838847.523 186866740.9
CENTROSOLAR GR-N C3ON GR -16015657.93 146354372.5
CENTROSOLAR GROU C3O PZ -16015657.93 146354372.5
CENTROSOLAR GROU C3O S1 -16015657.93 146354372.5
CENTROSOLAR GROU C3OA TH -16015657.93 146354372.5
CENTROSOLAR GROU C3OA QT -16015657.93 146354372.5
CENTROSOLAR GROU C3O BQ -16015657.93 146354372.5
CENTROSOLAR GROU C3O TQ -16015657.93 146354372.5
CENTROSOLAR GROU C3OUSD EO -16015657.93 146354372.5
CENTROSOLAR GROU C3OA TQ -16015657.93 146354372.5
CENTROSOLAR GROU C3OAD B3 -16015657.93 146354372.5
CENTROSOLAR GROU C3OAD S2 -16015657.93 146354372.5
CENTROSOLAR GROU C3OA BQ -16015657.93 146354372.5
CENTROSOLAR GROU CEOLF US -16015657.93 146354372.5
CENTROSOLAR GROU C3OAD L3 -16015657.93 146354372.5
CENTROSOLAR GROU C3OUSD EU -16015657.93 146354372.5
CENTROSOLAR GROU C3O EU -16015657.93 146354372.5
CENTROSOLAR GROU C3O EO -16015657.93 146354372.5
CENTROSOLAR GROU C3O GR -16015657.93 146354372.5
CENTROSOLAR GROU CSOG IX -16015657.93 146354372.5
CENTROSOLAR GROU C3O TH -16015657.93 146354372.5
CENTROSOLAR GROU C3OA GR -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
CHRIST WATER TEC CWT EU -5754093.459 165990091.1
CHRIST WATER TEC CWT EO -5754093.459 165990091.1
CHRIST WATER TEC CWT AV -5754093.459 165990091.1
CHRIST WATER TEC 8131204Q GR -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 CWTE IX -5754093.459 165990091.1
CHRIST WATER-ADR CRSWY US -5754093.459 165990091.1
CHRYSALIS GROUP CHSEUR EO -16399586.02 124836284.8
CHRYSALIS GROUP 5CY GR -16399586.02 124836284.8
CHRYSALIS GROUP CHS PZ -16399586.02 124836284.8
CHRYSALIS GROUP CHSUSD EO -16399586.02 124836284.8
CHRYSALIS GROUP CHS LN -16399586.02 124836284.8
CHRYSALIS GROUP CHSGBP EO -16399586.02 124836284.8
CHRYSALIS GROUP CLYSF US -16399586.02 124836284.8
CHRYSALIS GROUP CHS VX -16399586.02 124836284.8
CHRYSALIS GROUP CHSEUR EU -16399586.02 124836284.8
CHRYSALIS GROUP CHS PO -16399586.02 124836284.8
CHRYSALIS GROUP CHS IX -16399586.02 124836284.8
CHRYSALIS GROUP CHSUSD EU -16399586.02 124836284.8
CHRYSALIS GROUP CYGUF US -16399586.02 124836284.8
CHRYSALIS GROUP HR4 GR -16399586.02 124836284.8
CHRYSALIS GROUP CHS EU -16399586.02 124836284.8
CHRYSALIS GROUP CHS EO -16399586.02 124836284.8
CIA LA GOMERA AS 4401057Z NO -14188999.71 111542579.2
CIMBER STERLING CIMBE EO -5227729.207 192575891.8
CIMBER STERLING CIMBER BY -5227729.207 192575891.8
CIMBER STERLING CIMBER DC -5227729.207 192575891.8
CIMBER STERLING CIMBE EU -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 CWP LN -168322000 436419008
CLIPPER WINDPOWE CWP PG -168322000 436419008
CLIPPER WINDPOWE CWP EO -168322000 436419008
CLIPPER WINDPOWE CWPA LN -168322000 436419008
CLIPPER WINDPOWE C2W GR -168322000 436419008
CLIPPER WINDPOWE CWP EU -168322000 436419008
CLIPPER WINDPOWE CWP IX -168322000 436419008
CLIPPER WINDPOWE CWP PZ -168322000 436419008
CLIPPER WINDPOWE 3470635Q LN -168322000 436419008
CLIPPER WINDPOWE CRPWF US -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 CDR EO -257000149 2112958022
CODERE SA CDR EB -257000149 2112958022
CODERE SA CDR S1 -257000149 2112958022
CODERE SA CDRE B3 -257000149 2112958022
CODERE SA 4CD GR -257000149 2112958022
CODERE SA CODEF US -257000149 2112958022
CODERE SA CDRE L3 -257000149 2112958022
CODERE SA CDR EU -257000149 2112958022
CODERE SA CDRUSD EO -257000149 2112958022
CODERE SA CDRUSD EU -257000149 2112958022
CODERE SA CDR TQ -257000149 2112958022
CODERE SA CDRE S2 -257000149 2112958022
CODERE SA CDR SM -257000149 2112958022
CODERE SA CDRE PZ -257000149 2112958022
CODERE SA CDR IX -257000149 2112958022
COGNIS GMBH 575202Z GR -745013993.7 3306935972
COIN SPA GC IX -154063920.1 800559778.4
COIN SPA GUCIF US -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 CEYHF US -123446974.6 312014471.7
CONERGY AG CGY EO -123446974.6 312014471.7
CONERGY AG CGY EB -123446974.6 312014471.7
CONERGY AG CGY EU -123446974.6 312014471.7
CONERGY AG CGYK EB -123446974.6 312014471.7
CONERGY AG CGY IX -123446974.6 312014471.7
CONERGY AG CGYUSD EO -123446974.6 312014471.7
CONERGY AG CGYK EU -123446974.6 312014471.7
CONERGY AG CGYK QM -123446974.6 312014471.7
CONERGY AG CGY GR -123446974.6 312014471.7
CONERGY AG CGY BQ -123446974.6 312014471.7
CONERGY AG CGYKGBP EO -123446974.6 312014471.7
CONERGY AG CGYK GR -123446974.6 312014471.7
CONERGY AG CGYK PZ -123446974.6 312014471.7
CONERGY AG CGY NQ -123446974.6 312014471.7
CONERGY AG CGYKUSD EO -123446974.6 312014471.7
CONERGY AG CGYKUSD EU -123446974.6 312014471.7
CONERGY AG CGYK TQ -123446974.6 312014471.7
CONERGY AG CGYK EO -123446974.6 312014471.7
CONERGY AG CGY TQ -123446974.6 312014471.7
CONERGY AG CGYK S1 -123446974.6 312014471.7
CONERGY AG CGY PZ -123446974.6 312014471.7
CONERGY AG CGYGBX EO -123446974.6 312014471.7
CONERGY AG CGYGBP EO -123446974.6 312014471.7
CONERGY AG CGYKGBX EO -123446974.6 312014471.7
CONERGY AG CGY QM -123446974.6 312014471.7
CONERGY AG CGYK BQ -123446974.6 312014471.7
CONERGY AG CGYK TH -123446974.6 312014471.7
CONERGY AG CGY S1 -123446974.6 312014471.7
CONERGY AG CGYUSD EU -123446974.6 312014471.7
CONERGY AG CGY TH -123446974.6 312014471.7
CONERGY AG CGYK IX -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-ADR SMWPY US -89160237.06 478588064.2
CONNECT GROU-RTS CNCF LN -89160237.06 478588064.2
CONNECT GROU-RTS CNCFGBX EU -89160237.06 478588064.2
CONNECT GROU-RTS CNCFGBX EO -89160237.06 478588064.2
CONNECT GROUP PL CNCT EB -89160237.06 478588064.2
CONNECT GROUP PL CNCT IX -89160237.06 478588064.2
CONNECT GROUP PL CNCTEUR EU -89160237.06 478588064.2
CONNECT GROUP PL CNCTL L3 -89160237.06 478588064.2
CONNECT GROUP PL CNCT LN -89160237.06 478588064.2
CONNECT GROUP PL CNCT PZ -89160237.06 478588064.2
CONNECT GROUP PL CNCT1GBP EO -89160237.06 478588064.2
CONNECT GROUP PL CNCT BQ -89160237.06 478588064.2
CONNECT GROUP PL CNCTEUR EO -89160237.06 478588064.2
CONNECT GROUP PL CNCTL B3 -89160237.06 478588064.2
CONNECT GROUP PL NWS1 BQ -89160237.06 478588064.2
CONNECT GROUP PL CNCTGBP EO -89160237.06 478588064.2
CONNECT GROUP PL CNCTGBP EU -89160237.06 478588064.2
CONNECT GROUP PL CNCT S1 -89160237.06 478588064.2
CONNECT GROUP PL NWS S1 -89160237.06 478588064.2
CONNECT GROUP PL CNCT TQ -89160237.06 478588064.2
CONNECT GROUP PL CNCTL S2 -89160237.06 478588064.2
CONNECT GROUP PL NWS2 TQ -89160237.06 478588064.2
CONNECT GROUP PL NWS EB -89160237.06 478588064.2
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 CWE/T CN -347363008 314752992
CONS NEWEN ENT CWETF US -347363008 314752992
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 CPP EU -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 CPPGBP EO -45713644.72 135877096.4
CPP GROUP PLC CPP S1 -45713644.72 135877096.4
CPP GROUP PLC CPPL B3 -45713644.72 135877096.4
CPP GROUP PLC 4CV GR -45713644.72 135877096.4
CPP GROUP PLC CPP BQ -45713644.72 135877096.4
CPP GROUP PLC CPP IX -45713644.72 135877096.4
CPP GROUP PLC CPP LN -45713644.72 135877096.4
CPP GROUP PLC CPPL S2 -45713644.72 135877096.4
CPP GROUP PLC CPGPF US -45713644.72 135877096.4
CPP GROUP PLC CPPL L3 -45713644.72 135877096.4
CPP GROUP PLC 4CVD S2 -45713644.72 135877096.4
CPP GROUP PLC CPPEUR EU -45713644.72 135877096.4
CPP GROUP PLC CPP NR -45713644.72 135877096.4
CPP GROUP PLC 4CVD L3 -45713644.72 135877096.4
CPP GROUP PLC CPP TQ -45713644.72 135877096.4
CPP GROUP PLC CPP EB -45713644.72 135877096.4
CPP GROUP PLC CPPEUR EO -45713644.72 135877096.4
CPP GROUP PLC CPP EO -45713644.72 135877096.4
CPP GROUP PLC 4CVD B3 -45713644.72 135877096.4
CPP GROUP PLC 4CV GK -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 TQ -42072998.36 291988991.4
CRESPI SPA CRE1 IX -42072998.36 291988991.4
CRESPI SPA CRE EB -42072998.36 291988991.4
CRESPI SPA CRE1 EO -42072998.36 291988991.4
CRESPI SPA LG5 GR -42072998.36 291988991.4
CRESPI SPA GVCIF US -42072998.36 291988991.4
CRESPI SPA CRE IM -42072998.36 291988991.4
CRESPI SPA CRE1 EU -42072998.36 291988991.4
CRESPI SPA CRE BQ -42072998.36 291988991.4
CRESPI SPA CRE1 PZ -42072998.36 291988991.4
CSC COMPUTER SCI 3894278Z LN -153050119.7 2920396956
CUCINA LUX INVES 4503083Z LN -978222246.1 3210325190
D/S TORM TORDF US -149700000 1382300032
D/S TORM 3424559Q IX -149700000 1382300032
D/S TORM TORM NR -149700000 1382300032
D/S TORM ADSSF US -149700000 1382300032
DANA PETROLEUM N ENER NO -49442800.46 261409223.6
DANIILIDIS PA-RT DANILR GA -82672538.47 706171270.3
DANIILIDIS PANAG DANIL GA -82672538.47 706171270.3
DANKA BUS SYSTEM DNK IX -497126976 121439000
DANKA BUS SYSTEM 3205291Q EO -497126976 121439000
DANKA BUS SYSTEM 3205283Q EO -497126976 121439000
DANKA BUS SYSTEM DNK PO -497126976 121439000
DANKA BUS SYSTEM 3205287Q EU -497126976 121439000
DANKA BUS SYSTEM DNK LN -497126976 121439000
DANKA BUS SYSTEM DNK PZ -497126976 121439000
DANKA BUS SYSTEM DNK VX -497126976 121439000
DANKA BUS SYSTEM DANKF US -497126976 121439000
DANKA BUS-$US CE DANKD AR -497126976 121439000
DANKA BUS-ADR DB6 GR -497126976 121439000
DANKA BUS-ADR DANKE US -497126976 121439000
DANKA BUS-ADR DANKY US -497126976 121439000
DANKA BUS-ADR AP39 LI -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 DMABNOK SS -44638010.5 159769983.1
DANNEMORA MINERA DMABB NO -44638010.5 159769983.1
DANNEMORA MINERA DMABBO B3 -44638010.5 159769983.1
DANNEMORA MINERA DMABBO S2 -44638010.5 159769983.1
DANNEMORA MINERA DMABB BY -44638010.5 159769983.1
DANNEMORA MINERA DMABBO L3 -44638010.5 159769983.1
DANNEMORA MINERA DMABB EO -44638010.5 159769983.1
DANNEMORA MINERA DMABB PZ -44638010.5 159769983.1
DANNEMORA MINERA DMABB SS -44638010.5 159769983.1
DANNEMORA MINERA DMABB EU -44638010.5 159769983.1
DANNEMORA MINERA DMABBNOK BY -44638010.5 159769983.1
DANNEMORA MINERA DMABBNOK EO -44638010.5 159769983.1
DANNEMORA MINERA DMABBNOK EU -44638010.5 159769983.1
DANNEMORA MINERA DMAB SS -44638010.5 159769983.1
DANNEMORA MINERA 59P GR -44638010.5 159769983.1
DARTY PLC DRTYL B3 -418911342.6 1563994117
DARTY PLC DRTYP B3 -418911342.6 1563994117
DARTY PLC DRTYP L3 -418911342.6 1563994117
DARTY PLC DRTYUSD EO -418911342.6 1563994117
DARTY PLC KESA4 EO -418911342.6 1563994117
DARTY PLC KESA6 EO -418911342.6 1563994117
DARTY PLC DRTY EU -418911342.6 1563994117
DARTY PLC DRTY EO -418911342.6 1563994117
DARTY PLC KE4 GR -418911342.6 1563994117
DARTY PLC KSA FP -418911342.6 1563994117
DARTY PLC DRTY IX -418911342.6 1563994117
DARTY PLC KESAF US -418911342.6 1563994117
DARTY PLC DRTYEUR EU -418911342.6 1563994117
DARTY PLC KESA8 EO -418911342.6 1563994117
DARTY PLC DRTYL L3 -418911342.6 1563994117
DARTY PLC DRTY1 TQ -418911342.6 1563994117
DARTY PLC DRTY1 IX -418911342.6 1563994117
DARTY PLC KESA5 EO -418911342.6 1563994117
DARTY PLC KESA EO -418911342.6 1563994117
DARTY PLC KE4 GK -418911342.6 1563994117
DARTY PLC DRTY1 EB -418911342.6 1563994117
DARTY PLC KESA9 EO -418911342.6 1563994117
DARTY PLC DRTYUSD EU -418911342.6 1563994117
DARTY PLC KESA TQ -418911342.6 1563994117
DARTY PLC DRTYGBP EO -418911342.6 1563994117
DARTY PLC KES1 EO -418911342.6 1563994117
DARTY PLC KESA QM -418911342.6 1563994117
DARTY PLC DRTYEUR EO -418911342.6 1563994117
DARTY PLC DRTY QM -418911342.6 1563994117
DARTY PLC DRTY LN -418911342.6 1563994117
DARTY PLC KESA BQ -418911342.6 1563994117
DARTY PLC DRTY FP -418911342.6 1563994117
DARTY PLC DRTYP S2 -418911342.6 1563994117
DARTY PLC DRTY EB -418911342.6 1563994117
DARTY PLC KESA EB -418911342.6 1563994117
DARTY PLC KESA3 EO -418911342.6 1563994117
DARTY PLC KESA2 EO -418911342.6 1563994117
DARTY PLC KESA NQ -418911342.6 1563994117
DARTY PLC KESA S1 -418911342.6 1563994117
DARTY PLC KESA NR -418911342.6 1563994117
DARTY PLC DRTYL S2 -418911342.6 1563994117
DARTY PLC KESA IX -418911342.6 1563994117
DARTY PLC DRTY TQ -418911342.6 1563994117
DARTY PLC KESA7 EO -418911342.6 1563994117
DARTY PLC DRTYI GR -418911342.6 1563994117
DAVENHAM GROUP P DAV PZ -57318753.57 114702989.3
DAVENHAM GROUP P DAV EU -57318753.57 114702989.3
DAVENHAM GROUP P DAV LN -57318753.57 114702989.3
DAVENHAM GROUP P DAH GR -57318753.57 114702989.3
DAVENHAM GROUP P DAV EO -57318753.57 114702989.3
DAVENHAM GROUP P DAVEUR EO -57318753.57 114702989.3
DAVENHAM GROUP P DAH TH -57318753.57 114702989.3
DAVENHAM GROUP P DAV PG -57318753.57 114702989.3
DE LA RUE PLC DLAR TQ -191504970.4 754649781.4
DE LA RUE PLC DLAREUR EO -191504970.4 754649781.4
DE LA RUE PLC DLAR EB -191504970.4 754649781.4
DE LA RUE PLC DLAR BQ -191504970.4 754649781.4
DE LA RUE PLC DLAR PZ -191504970.4 754649781.4
DE LA RUE PLC DLAR3 EO -191504970.4 754649781.4
DE LA RUE PLC DLAR8 EO -191504970.4 754649781.4
DE LA RUE PLC DLAR EU -191504970.4 754649781.4
DE LA RUE PLC DLAR4 EO -191504970.4 754649781.4
DE LA RUE PLC DLAR9 EO -191504970.4 754649781.4
DE LA RUE PLC DLAR5 EO -191504970.4 754649781.4
DE LA RUE PLC DLARF US -191504970.4 754649781.4
DE LA RUE PLC DLARL B3 -191504970.4 754649781.4
DE LA RUE PLC DLAR PO -191504970.4 754649781.4
DE LA RUE PLC DLAR7 EO -191504970.4 754649781.4
DE LA RUE PLC DLARUSD EU -191504970.4 754649781.4
DE LA RUE PLC DLAR EO -191504970.4 754649781.4
DE LA RUE PLC DL1A GR -191504970.4 754649781.4
DE LA RUE PLC DLARCHF EO -191504970.4 754649781.4
DE LA RUE PLC DLAR NR -191504970.4 754649781.4
DE LA RUE PLC DL1C GR -191504970.4 754649781.4
DE LA RUE PLC DLA EO -191504970.4 754649781.4
DE LA RUE PLC DLARL L3 -191504970.4 754649781.4
DE LA RUE PLC DLAREUR EU -191504970.4 754649781.4
DE LA RUE PLC DLRUF US -191504970.4 754649781.4
DE LA RUE PLC DLAR VX -191504970.4 754649781.4
DE LA RUE PLC DLAR IX -191504970.4 754649781.4
DE LA RUE PLC DL1B GR -191504970.4 754649781.4
DE LA RUE PLC DELRF US -191504970.4 754649781.4
DE LA RUE PLC DLAR LN -191504970.4 754649781.4
DE LA RUE PLC DLAR6 EO -191504970.4 754649781.4
DE LA RUE PLC DLARL S2 -191504970.4 754649781.4
DE LA RUE PLC DLAR2 EO -191504970.4 754649781.4
DE LA RUE PLC DLAR QM -191504970.4 754649781.4
DE LA RUE PLC DLAR NQ -191504970.4 754649781.4
DE LA RUE PLC DLAR QX -191504970.4 754649781.4
DE LA RUE PLC DLAR S1 -191504970.4 754649781.4
DE LA RUE PLC DL1 GR -191504970.4 754649781.4
DE LA RUE PLC DLARGBP EO -191504970.4 754649781.4
DE LA RUE PLC DLAR1 EO -191504970.4 754649781.4
DE LA RUE PLC DLARUSD EO -191504970.4 754649781.4
DE LA RUE PLC DL1C GK -191504970.4 754649781.4
DE LA RUE PLC DLARCHF EU -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 D4B GR -79827494.88 1139643575
DEVELICA DEUTSCH DDE IX -79827494.88 1139643575
DEVELICA DEUTSCH DDE LN -79827494.88 1139643575
DEVELICA DEUTSCH DDE PZ -79827494.88 1139643575
DIAMOND RESORT H 1710824Z LN -59240015.95 230240894.2
DIAS AQUA-R REPO DIFFV11 GA -91570508.17 151745904.4
DIAS AQUACU-REPO DIFFL11 GA -91570508.17 151745904.4
DIAS AQUACULTURE DIFF EO -91570508.17 151745904.4
DIAS AQUACULTURE DIFF EU -91570508.17 151745904.4
DIAS AQUACULTURE DIFFY S2 -91570508.17 151745904.4
DIAS AQUACULTURE DIFFY L3 -91570508.17 151745904.4
DIAS AQUACULTURE DIFF GA -91570508.17 151745904.4
DIAS AQUACULTURE DIFF PZ -91570508.17 151745904.4
DIAS AQUACULTURE DIFFY B3 -91570508.17 151745904.4
DIBAQ DIPROTEG 937530Z SM -6314112.019 147817872.4
DIMA COSTRUZIONI 4526911Z IM -14681477.1 426157772.4
DIMAFIN SPA 2727163Z IM -63237310.55 270853808.6
DIOKI DD DIOKRHRK EO -38207781.04 346383251.3
DIOKI DD DIOKRHRK EU -38207781.04 346383251.3
DIOKI DD DIOKRA CZ -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 VX -13323427.13 573001458.7
EASYNET GROUP EAY GR -13323427.13 573001458.7
EASYNET GROUP EZNGF US -13323427.13 573001458.7
EASYNET GROUP ESY PO -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 EDENP L3 -1922075941 5280232751
EDENRED EDEN S1 -1922075941 5280232751
EDENRED EDEN QM -1922075941 5280232751
EDENRED EDENUSD EU -1922075941 5280232751
EDENRED EDENP S2 -1922075941 5280232751
EDENRED EDEN EB -1922075941 5280232751
EDENRED EDEN QX -1922075941 5280232751
EDENRED EDNMF US -1922075941 5280232751
EDENRED EDEN IX -1922075941 5280232751
EDENRED EDEN BQ -1922075941 5280232751
EDENRED EDEN LI -1922075941 5280232751
EDENRED QSV TH -1922075941 5280232751
EDENRED EDEN EU -1922075941 5280232751
EDENRED EDENUSD EO -1922075941 5280232751
EDENRED EDEN PZ -1922075941 5280232751
EDENRED EDEN FP -1922075941 5280232751
EDENRED EDEN EO -1922075941 5280232751
EDENRED QSV GR -1922075941 5280232751
EDENRED EDEN TQ -1922075941 5280232751
EDENRED QSV QT -1922075941 5280232751
EDENRED EDENP B3 -1922075941 5280232751
EDENRED - NEW EDENV EU -1922075941 5280232751
EDENRED - NEW 09317EUR EO -1922075941 5280232751
EDENRED - NEW EDENV FP -1922075941 5280232751
EDENRED - NEW EDENVEUR EO -1922075941 5280232751
EDENRED - NEW 09317EUR EU -1922075941 5280232751
EDENRED - NEW 0931985D FP -1922075941 5280232751
EDENRED SA-ADR EDNMY US -1922075941 5280232751
EDENRED-NEW 0931986D FP -1922075941 5280232751
EDENRED-NEW 0675161D FP -1922075941 5280232751
EDF EN OUTRE MER 4679713Z FP -10380130.59 110553300
EDRASIS C. PSALL EDRAR GA -114527235.1 168611130.1
EDRASIS PSALIDAS EPP GR -114527235.1 168611130.1
EDRASIS PSALIDAS EDRA GA -114527235.1 168611130.1
EDRASIS PSALIDAS EDRA EU -114527235.1 168611130.1
EDRASIS PSALIDAS EDRA PZ -114527235.1 168611130.1
EDRASIS PSALIDAS EDRA EO -114527235.1 168611130.1
EDRASIS-AUCTION EDRAE GA -114527235.1 168611130.1
EIRCOM LTD 378739Q VX -641146517.4 2926124913
EIRCOM LTD EIRCF US -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 -181250000 828684992
EITZEN CHEMICAL ECHEM BY -181250000 828684992
EITZEN CHEMICAL ECHEMO S2 -181250000 828684992
EITZEN CHEMICAL ECHEM TQ -181250000 828684992
EITZEN CHEMICAL ECHEMO B3 -181250000 828684992
EITZEN CHEMICAL ECHEMO L3 -181250000 828684992
EITZEN CHEMICAL CHEM NO -181250000 828684992
EITZEN CHEMICAL EITZF US -181250000 828684992
EITZEN CHEMICAL ECHEM PZ -181250000 828684992
EITZEN CHEMICAL ECHEM EO -181250000 828684992
EITZEN CHEMICAL ECHEM SS -181250000 828684992
EITZEN CHEMICAL ECHEMEUR EO -181250000 828684992
EITZEN CHEMICAL ECHEM NO -181250000 828684992
EITZEN CHEMICAL ECHEMEUR EU -181250000 828684992
EITZEN CHEMICAL E8H GR -181250000 828684992
EITZEN CHEMICAL ECHEM EU -181250000 828684992
EITZEN CHEMICAL ECHM IX -181250000 828684992
ELECTRABEL CUSTO 4469455Z AV -24033524.65 3127573353
ELECTRAWINDS S-B 0699494D GR -99949570.21 504294062.4
ELECTRAWINDS SE ECT2 EO -99949570.21 504294062.4
ELECTRAWINDS SE EPNTF US -99949570.21 504294062.4
ELECTRAWINDS SE ECT2 EU -99949570.21 504294062.4
ELECTRAWINDS SE EWID B3 -99949570.21 504294062.4
ELECTRAWINDS SE EWID L3 -99949570.21 504294062.4
ELECTRAWINDS SE EWI GR -99949570.21 504294062.4
ELECTRAWINDS SE EWID S2 -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 NM -22067243.56 849175624.7
EM.TV & MERC-RTS ETV8 GR -22067243.56 849175624.7
EM.TV & MERCHAND 985403Q GR -22067243.56 849175624.7
EM.TV & MERCHAND ETV NM -22067243.56 849175624.7
EM.TV & MERCHAND EMTVF US -22067243.56 849175624.7
EM.TV & MERCHAND 0881480D US -22067243.56 849175624.7
EM.TV & MERCHAND ETV VX -22067243.56 849175624.7
EM.TV & MERCHAND ETV LN -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 PO -2265973885 2950096964
EMI GROUP PLC EMI VX -2265973885 2950096964
EMI GROUP PLC EMI IX -2265973885 2950096964
EMI GROUP PLC EMIPF US -2265973885 2950096964
EMI GROUP PLC 3020138Q GR -2265973885 2950096964
EMI GROUP PLC-B 1019425Q LN -2265973885 2950096964
EMI GROUP-ADR 38IS LN -2265973885 2950096964
EMI GROUP-ADR EMI$ LN -2265973885 2950096964
EMI GROUP-ADR EMIPY US -2265973885 2950096964
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 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 EQT LN -161280537.3 766114863.8
EQUANT NV 178235Z FP -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 -5867077.943 167228010.4
ETEM-LIGHT METAL ETEM PZ -5867077.943 167228010.4
ETEM-LIGHT METAL ETEM EU -5867077.943 167228010.4
ETEM-LIGHT METAL ETEM GA -5867077.943 167228010.4
ETEM-LIGHT METAL ETEM EO -5867077.943 167228010.4
ETHEL AUSTIN INV 1089202Z LN -38259689.04 225745160.1
ETHICAL HLDG-ADR ETHCY US -33856000 252476000
EUPHONY HOLDINGS 4449041Z LN -22471921.86 112865190.8
EURCO FINANCE 3799980Z ID -48644964.48 679151283.8
EURO DISNEY SCA EDLP S2 -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 EDLP B3 -250559359 2728116488
EURO DISNEY SCA EDLP L3 -250559359 2728116488
EURO DISNEY SCA EDLB BB -250559359 2728116488
EURO DISNEY-ADR 1800P US -250559359 2728116488
EURO DISNEY-NEW EDLN FP -250559359 2728116488
EURO DISNEY-NONR EDLY IX -250559359 2728116488
EURO DISNEY-NONR EDIG IX -250559359 2728116488
EURO DISNEY-NONR EDLNR FP -250559359 2728116488
EURO DISNEY-NONR 3663498Q PZ -250559359 2728116488
EURO DISNEY-NONR 2862682Q EO -250559359 2728116488
EURO DISNEY-NONR 2862678Q EU -250559359 2728116488
EURO DISNEY-NONR ERDBF US -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 VX -250559359 2728116488
EURO DISNEY-RCPT EUD PO -250559359 2728116488
EURO DISNEY-RCPT ERDDF US -250559359 2728116488
EURO DISNEY-RCPT EUD LN -250559359 2728116488
EURO DISNEY-REGR EDL EB -250559359 2728116488
EURO DISNEY-REGR EDL IX -250559359 2728116488
EURO DISNEY-REGR EDL EU -250559359 2728116488
EURO DISNEY-REGR EDIA TH -250559359 2728116488
EURO DISNEY-REGR EDLP PZ -250559359 2728116488
EURO DISNEY-REGR EDLP IX -250559359 2728116488
EURO DISNEY-REGR EUDSF US -250559359 2728116488
EURO DISNEY-REGR EDL BQ -250559359 2728116488
EURO DISNEY-REGR EDIA GR -250559359 2728116488
EURO DISNEY-REGR EDL S1 -250559359 2728116488
EURO DISNEY-REGR EDL TQ -250559359 2728116488
EURO DISNEY-REGR EDL QM -250559359 2728116488
EURO DISNEY-REGR EDL EO -250559359 2728116488
EURO DISNEY-REGR EDL FP -250559359 2728116488
EURO DISNEY-REGR EDL1 TH -250559359 2728116488
EURO DISNEY-RGT EDI1 GR -250559359 2728116488
EURO DISNEY-RGT EDLDS FP -250559359 2728116488
EURO DISNEY-RTS 2761245Q FP -250559359 2728116488
EURO DISNEY-RTS EDISS5 BB -250559359 2728116488
EUROCOMMERCE HOL 4174085Z NA -1476.300001 1442043983
EURODEP 4680905Z FP -20980092.52 199599003.5
EUROMEDICA EUMED GA -152874856.3 798844287.7
EUROMEDICA SA EUMDF US -152874856.3 798844287.7
EUROMEDICA SA EUROM EO -82672538.47 706171270.3
EUROMEDICA SA EUROMY S2 -82672538.47 706171270.3
EUROMEDICA SA EUROMY B3 -82672538.47 706171270.3
EUROMEDICA SA DNX GR -82672538.47 706171270.3
EUROMEDICA SA DNXA GR -82672538.47 706171270.3
EUROMEDICA SA EUROM PZ -82672538.47 706171270.3
EUROMEDICA SA EUROM EU -82672538.47 706171270.3
EUROMEDICA SA EUROMY L3 -82672538.47 706171270.3
EUROMEDICA SA EUROM GA -82672538.47 706171270.3
EUROPEAN HOME EHR LN -14328734.27 110864074.5
EUROPEAN HOME EHR EU -14328734.27 110864074.5
EUROPEAN HOME EHR5 EO -14328734.27 110864074.5
EUROPEAN HOME EHR1 EO -14328734.27 110864074.5
EUROPEAN HOME EHR PO -14328734.27 110864074.5
EUROPEAN HOME EHREUR EO -14328734.27 110864074.5
EUROPEAN HOME KLZ VX -14328734.27 110864074.5
EUROPEAN HOME EHR10 EO -14328734.27 110864074.5
EUROPEAN HOME KLZ PO -14328734.27 110864074.5
EUROPEAN HOME EHR7 EO -14328734.27 110864074.5
EUROPEAN HOME EHR VX -14328734.27 110864074.5
EUROPEAN HOME EHR2 EO -14328734.27 110864074.5
EUROPEAN HOME FPAKF US -14328734.27 110864074.5
EUROPEAN HOME EHR9 EO -14328734.27 110864074.5
EUROPEAN HOME EHREUR EU -14328734.27 110864074.5
EUROPEAN HOME EHR4 EO -14328734.27 110864074.5
EUROPEAN HOME EHRGBP EO -14328734.27 110864074.5
EUROPEAN HOME EHR EO -14328734.27 110864074.5
EUROPEAN HOME EHR PZ -14328734.27 110864074.5
EUROPEAN HOME EHR3 EO -14328734.27 110864074.5
EUROPEAN HOME EHR8 EO -14328734.27 110864074.5
EUROPEAN HOME EHR6 EO -14328734.27 110864074.5
EUROPEAN MARITIM 4523543Z NA -34804363.97 347312502.4
EXOVA GROUP L-WI 0276626D LN -197135399.8 847847879.2
EXOVA GROUP PLC EXOL S1 -197135399.8 847847879.2
EXOVA GROUP PLC EXO1 IX -197135399.8 847847879.2
EXOVA GROUP PLC EXOEUR EU -197135399.8 847847879.2
EXOVA GROUP PLC EXO1 BQ -197135399.8 847847879.2
EXOVA GROUP PLC EXOL L3 -197135399.8 847847879.2
EXOVA GROUP PLC EXOL B3 -197135399.8 847847879.2
EXOVA GROUP PLC EXO1 EB -197135399.8 847847879.2
EXOVA GROUP PLC 219 GR -197135399.8 847847879.2
EXOVA GROUP PLC EXO LN -197135399.8 847847879.2
EXOVA GROUP PLC EXOL S2 -197135399.8 847847879.2
EXOVA GROUP PLC EXOL TQ -197135399.8 847847879.2
EXOVA GROUP PLC EXOGBX EU -197135399.8 847847879.2
EXOVA GROUP PLC EXOGBX EO -197135399.8 847847879.2
EXOVA GROUP PLC EXOEUR EO -197135399.8 847847879.2
EXPERT NORGE AS 4444681Z NO -7915470.255 138176736
EXPLORER NV 4289181Z BB -38833909.74 237288467.6
EXXONMOBIL MARIN 1196527Z LN -12472541.39 165900206.8
F.C. PORTO FCP EO -24743714.18 315165766.4
F.C. PORTO FCP IX -24743714.18 315165766.4
F.C. PORTO FCP PZ -24743714.18 315165766.4
F.C. PORTO FCP PL -24743714.18 315165766.4
F.C. PORTO FCP EB -24743714.18 315165766.4
F.C. PORTO 0967973D TQ -24743714.18 315165766.4
F.C. PORTO FBC GR -24743714.18 315165766.4
F.C. PORTO FCP TQ -24743714.18 315165766.4
F.C. PORTO FCP EU -24743714.18 315165766.4
F.C. PORTO FCPX PX -24743714.18 315165766.4
F.C.PORTO FCPA PL -24743714.18 315165766.4
FACEO FM 4690137Z FP -1109089.079 243429434.2
FACONNABLE SA 226782Z FP -135489494.6 114660790.1
FAR EASTERN GENE DVGC RU -287701852.5 1300213857
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
FCC FCC TQ -613390527.5 17649279685
FCC FCC PZ -613390527.5 17649279685
FCC FCC LI -613390527.5 17649279685
FCC FCC GK -613390527.5 17649279685
FCC FCC NQ -613390527.5 17649279685
FCC FCCGBX EU -613390527.5 17649279685
FCC FCC NR -613390527.5 17649279685
FCC FCC TH -613390527.5 17649279685
FCC FCC QX -613390527.5 17649279685
FCC FCC SW -613390527.5 17649279685
FCC FCC EO -613390527.5 17649279685
FCC FCC QM -613390527.5 17649279685
FCC FCC EB -613390527.5 17649279685
FCC FCCGBX EO -613390527.5 17649279685
FCC FCC IX -613390527.5 17649279685
FCC FCC EU -613390527.5 17649279685
FCC FCCGBP EO -613390527.5 17649279685
FCC FCC SM -613390527.5 17649279685
FCC FCC GR -613390527.5 17649279685
FCC FCC S1 -613390527.5 17649279685
FCC FMOCF US -613390527.5 17649279685
FCC FOM CONST FCC LN -613390527.5 17649279685
FENERBAHCE FEBHF US -132649852.5 181575801.3
FENERBAHCE FUTBO FENER TI -132649852.5 181575801.3
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 TQ -102379482.8 427577243.8
FERGO AISA SA AISA PZ -102379482.8 427577243.8
FERGO AISA SA AISA EU -102379482.8 427577243.8
FERGO AISA SA AISA EO -102379482.8 427577243.8
FEVERTREE DRINKS FEVRGBX EO -1400032.958 102847047
FEVERTREE DRINKS FEVRL S2 -1400032.958 102847047
FEVERTREE DRINKS FEVR LN -1400032.958 102847047
FEVERTREE DRINKS FEVRL L3 -1400032.958 102847047
FEVERTREE DRINKS FEVRL B3 -1400032.958 102847047
FEVERTREE DRINKS FQVTF US -1400032.958 102847047
FEVERTREE DRINKS FEVRGBX EU -1400032.958 102847047
FINAN ST FIACRE STFI FP -1274873.644 111191494.1
FINANCIAL LEASIN FLKO* RU -223005888.9 203003201.1
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 SERVIC 2630281Z LN -105700509.6 414966448.4
FINANCIETOREN NV 3729210Z BB -79646965.76 731800789.5
FINANSIERINGSSEL 3977156Z DC -2410330.413 110737438.4
FINMATICA SPA FMTAF US -126386016.2 281256000.7
FINMATICA SPA FIN IM -126386016.2 281256000.7
FINMATICA SPA 0882440D GR -126386016.2 281256000.7
FINMATICA SPA FIN NM -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 FLMLY US -9512000 116252000
FLAMEL TECH-ADR FL3 GR -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 FLOL S2 -21847240.78 106259293.7
FLOWTECH FLUIDPO FLOGBX EU -21847240.78 106259293.7
FLOWTECH FLUIDPO 0984685D LN -21847240.78 106259293.7
FLOWTECH FLUIDPO FLO LN -21847240.78 106259293.7
FLOWTECH FLUIDPO FLOL B3 -21847240.78 106259293.7
FLOWTECH FLUIDPO FLOGBX EO -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
FOMENTO DE C-ADR FMOCY US -613390527.5 17649279685
FOMENTO DE CO-RT FCCDE TQ -613390527.5 17649279685
FOMENTO DE CO-RT FCC/DEUR EO -613390527.5 17649279685
FOMENTO DE CO-RT FCCDE IX -613390527.5 17649279685
FOMENTO DE CO-RT FCC1 GR -613390527.5 17649279685
FOMENTO DE CO-RT FCCDE EB -613390527.5 17649279685
FOMENTO DE CO-RT FCC/D SM -613390527.5 17649279685
FOMENTO DE CO-RT FCC/DEUR EU -613390527.5 17649279685
FOMENTO DE CONST FCCE S2 -613390527.5 17649279685
FOMENTO DE CONST FOM LI -613390527.5 17649279685
FOMENTO DE CONST FCCG IX -613390527.5 17649279685
FOMENTO DE CONST FCCE L3 -613390527.5 17649279685
FOMENTO DE CONST FCCE B3 -613390527.5 17649279685
FOMENTO DE CONST FCC VX -613390527.5 17649279685
FOMENTO DE-ADR 3061239Z US -613390527.5 17649279685
FORD MOTOR CO LT 1291306Z LN -926039399.1 5261361595
FORTHNET R-R FORTV10 GA -123621747.6 748897386.6
FORTHNET REPO FORTL10 GA -123621747.6 748897386.6
FORTHNET SA FORTHY S2 -123621747.6 748897386.6
FORTHNET SA FORTHY B3 -123621747.6 748897386.6
FORTHNET SA FORTH GA -123621747.6 748897386.6
FORTHNET SA FNETF US -123621747.6 748897386.6
FORTHNET SA FORTHY L3 -123621747.6 748897386.6
FORTHNET SA FN6 GR -123621747.6 748897386.6
FORTHNET SA FORTH PZ -123621747.6 748897386.6
FORTHNET SA FORTH EU -123621747.6 748897386.6
FORTHNET SA FRHNF US -123621747.6 748897386.6
FORTHNET SA FORTH EO -123621747.6 748897386.6
FORTHNET SA FN61 GR -123621747.6 748897386.6
FORTHNET SA- RTS FORTHEUR EO -123621747.6 748897386.6
FORTHNET SA- RTS FORTHR GA -123621747.6 748897386.6
FORTHNET SA- RTS FORTHEUR EU -123621747.6 748897386.6
FORTHNET SA-RT 2905043Q GA -123621747.6 748897386.6
FORTHNET SA-RTS 0918102D GA -123621747.6 748897386.6
FORTHNET-AUCTION FORTHE GA -123621747.6 748897386.6
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 776709Q US -1845202.816 135750172.5
FREE RECORD SHOP FRSHN NA -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
FUTEBOL CLUBE DO FCPU L3 -24743714.18 315165766.4
FUTEBOL CLUBE DO FCPU B3 -24743714.18 315165766.4
FUTEBOL CLUBE DO FCPU S2 -24743714.18 315165766.4
FW FARNSWORTH LT 1293386Z LN -65739932.28 107240946.6
G4S SECURE SOL 1383954Z LN -98910616.11 439870371.2
GALATASARAY SPOR 1092031D TI -29128814.33 349678381.7
GALATASARAY SPOR GALA IX -29128814.33 349678381.7
GALATASARAY SPOR GSRAYR TI -29128814.33 349678381.7
GALATASARAY SPOR GATSF US -29128814.33 349678381.7
GALATASARAY SPOR GSRAY TI -29128814.33 349678381.7
GALATASARAY SPOR 1092028D TI -29128814.33 349678381.7
GALATASARAY SPOR GSY GR -29128814.33 349678381.7
GALATASARAY SPOR 1092030D TI -29128814.33 349678381.7
GALATASARAY-NEW GSRAYY TI -29128814.33 349678381.7
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
GEVEKO AB-A 0122345D SS -8102734.555 101463583.1
GEVEKO AB-B GVKO/B PZ -8102734.555 101463583.1
GEVEKO AB-B GVKOB TQ -8102734.555 101463583.1
GEVEKO AB-B G8V GR -8102734.555 101463583.1
GEVEKO AB-B GVKOB EU -8102734.555 101463583.1
GEVEKO AB-B GVKOBEUR EO -8102734.555 101463583.1
GEVEKO AB-B GVKOB EO -8102734.555 101463583.1
GEVEKO AB-B GVKOB SS -8102734.555 101463583.1
GEVEKO AB-B GVKB IX -8102734.555 101463583.1
GEVEKO AB-B GVKOBEUR EU -8102734.555 101463583.1
GEVEKO AB-B GVKOB BY -8102734.555 101463583.1
GEVEKO AB-B SHS GVKOBS S2 -8102734.555 101463583.1
GEVEKO AB-B SHS GVKOBS L3 -8102734.555 101463583.1
GEVEKO AB-B SHS GVKOBS B3 -8102734.555 101463583.1
GEVEKO AB-NEW GVKOBTAB SS -8102734.555 101463583.1
GEVEKO AB-NEW GVKOBTAB BY -8102734.555 101463583.1
GEVEKO AB-RTS GVKOTRB SS -8102734.555 101463583.1
GEVEKO AB-RTS GVKOTRB BY -8102734.555 101463583.1
GEVEKO-B SHS RED GVKOILB SS -8102734.555 101463583.1
GFI SOFTWARE S.A GFIX US -102039000 369868992
GFI SOFTWARE S.A 0620577D US -102039000 369868992
GFI SOFTWARE S.A GFIS 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 -566856039 1428301072
GRANDE PAROISSE GAPA FP -927267926.9 629287290
GRANDE PAROISSE GDPXF US -927267926.9 629287290
GRANDE PAROISSE GDPA 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 EO -11320362.36 176234024
GREEN WIND ENERG GW PZ -11320362.36 176234024
GREEN WIND ENERG GW BY -11320362.36 176234024
GREEN WIND ENERG GWEUR EU -11320362.36 176234024
GREEN WIND ENERG GW EU -11320362.36 176234024
GREEN WIND ENERG G7W1 GR -11320362.36 176234024
GREEN WIND ENERG GW DC -11320362.36 176234024
GREEN WIND ENERG GWEUR EO -11320362.36 176234024
GROUPE PROGRES S 4734137Z FP -145582524.5 135577203.6
GRUPO PICKING PA GPP VX -92173952.82 105149402.3
GRUPO PICKING PA GPPKF US -92173952.82 105149402.3
GRUPO PICKING PA GPP SM -92173952.82 105149402.3
GRUPO PICKING-RT GPP/D SM -92173952.82 105149402.3
GRUPO TAVEX SA TVX TQ -10622070.67 655950832
GRUPO TAVEX SA TVX EU -10622070.67 655950832
GRUPO TAVEX SA TVX IX -10622070.67 655950832
GRUPO TAVEX SA TVXE S2 -10622070.67 655950832
GRUPO TAVEX SA TVXAF US -10622070.67 655950832
GRUPO TAVEX SA TVX S1 -10622070.67 655950832
GRUPO TAVEX SA TV3 GR -10622070.67 655950832
GRUPO TAVEX SA TVX EB -10622070.67 655950832
GRUPO TAVEX SA TVXE B3 -10622070.67 655950832
GRUPO TAVEX SA TVXE L3 -10622070.67 655950832
GRUPO TAVEX SA TVX SM -10622070.67 655950832
GRUPO TAVEX SA TVX EO -10622070.67 655950832
GS MULTI-CURRENC 4780921Z ID -218031502.7 1766463253
GUENTHER & SOHN GUS GR -9612095.264 130075209
GUENTHER & SOHN 0876248D PZ -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 LN -874213546.6 3351127450
HALS-DEVEL- GDR 86PN LI -874213546.6 3351127450
HALS-DEVELOPMENT HALS* RU -874213546.6 3351127450
HALS-DEVELOPMENT HALS RM -874213546.6 3351127450
HALS-DEVELOPMENT HALS EB -874213546.6 3351127450
HALS-DEVELOPMENT SYR GR -874213546.6 3351127450
HALS-DEVELOPMENT HALSL B3 -874213546.6 3351127450
HALS-DEVELOPMENT HALSM RU -874213546.6 3351127450
HALS-DEVELOPMENT HALS RU -874213546.6 3351127450
HALS-DEVELOPMENT HALSUSD EO -874213546.6 3351127450
HALS-DEVELOPMENT HALSG RU -874213546.6 3351127450
HALS-DEVELOPMENT HALSL L3 -874213546.6 3351127450
HALS-DEVELOPMENT HALS TQ -874213546.6 3351127450
HALS-DEVELOPMENT HALSL S2 -874213546.6 3351127450
HALS-DEVELOPMENT HALS LI -874213546.6 3351127450
HALS-DEVELOPMENT HALSL BQ -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 EU -54973436.99 102255716.8
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 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 EU -239476687.5 175703330.6
HBPOLSKA HBP PW -239476687.5 175703330.6
HBPOLSKA HBP LI -239476687.5 175703330.6
HBPOLSKA HBP EU -239476687.5 175703330.6
HBPOLSKA HBP EO -239476687.5 175703330.6
HBPOLSKA HBWL PZ -239476687.5 175703330.6
HBPOLSKA HBW PW -239476687.5 175703330.6
HBPOLSKA HBPEUR EO -239476687.5 175703330.6
HBPOLSKA-PD-ALLT HBPA PW -239476687.5 175703330.6
HECKLER & KOCH 156242Z GR -202088565.4 380044808.2
HEEGH AUTOLINERS 4389209Z NO -812350.1488 537484504.9
HELI-ONE NORWAY 4632761Z NO -79370156.68 663779418
HELLAS ONLIN-RTS HOLR GA -15405615.27 378076696.5
HELLAS ONLINE SA BRAIN EO -15405615.27 378076696.5
HELLAS ONLINE SA BRAIN EU -15405615.27 378076696.5
HELLAS ONLINE SA HOLY B3 -15405615.27 378076696.5
HELLAS ONLINE SA UN5 GR -15405615.27 378076696.5
HELLAS ONLINE SA HOL GA -15405615.27 378076696.5
HELLAS ONLINE SA BRAIN PZ -15405615.27 378076696.5
HELLAS ONLINE SA BRAIN GA -15405615.27 378076696.5
HELLAS ONLINE SA HOLY S2 -15405615.27 378076696.5
HELLAS ONLINE SA 0394471Q GA -15405615.27 378076696.5
HELLAS ONLINE SA HOLY L3 -15405615.27 378076696.5
HELLENIC FAB-RTS ELYFD GA -38109769.06 118721472.5
HELLENIC FABRICS ELYF EO -38109769.06 118721472.5
HELLENIC FABRICS ELYFY L3 -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 EU -38109769.06 118721472.5
HELLENIC FABRICS ELYFY B3 -38109769.06 118721472.5
HELLENIC FISH FA ELFIS GA -5623896.662 111160781.4
HELLENIC FISH FA ELFISY B3 -5623896.662 111160781.4
HELLENIC FISH FA ELFIS EO -5623896.662 111160781.4
HELLENIC FISH FA ELFIS EU -5623896.662 111160781.4
HELLENIC FISH FA ELFISY S2 -5623896.662 111160781.4
HELLENIC FISH FA ELFISY L3 -5623896.662 111160781.4
HELLENIC FISH FA ELFIS PZ -5623896.662 111160781.4
HERSAL-INVESTIME 4764577Z PL -25242472.01 595266653.4
HESS INDONESIA P 1705776Z LN -22193000 816726976
HEWLETT-PACKARD 1963382Z LN -909454604.5 4585176328
HEWLETT-PACKARD 4470239Z FP -244195175.5 1053527540
HIBU PLC YELL6 EO -2257521127 2120614224
HIBU PLC YELLEUR EU -2257521127 2120614224
HIBU PLC HIBU IX -2257521127 2120614224
HIBU PLC YELL EU -2257521127 2120614224
HIBU PLC HIBU LN -2257521127 2120614224
HIBU PLC HIBU PZ -2257521127 2120614224
HIBU PLC YEL EO -2257521127 2120614224
HIBU PLC HIBUUSD EU -2257521127 2120614224
HIBU PLC YELL7 EO -2257521127 2120614224
HIBU PLC HIBU QM -2257521127 2120614224
HIBU PLC YELLEUR EO -2257521127 2120614224
HIBU PLC YELL S1 -2257521127 2120614224
HIBU PLC HIBU BQ -2257521127 2120614224
HIBU PLC YELGF US -2257521127 2120614224
HIBU PLC HIBU EB -2257521127 2120614224
HIBU PLC YELL3 EO -2257521127 2120614224
HIBU PLC YELL1 EO -2257521127 2120614224
HIBU PLC YELL IX -2257521127 2120614224
HIBU PLC YELL EO -2257521127 2120614224
HIBU PLC YELL QM -2257521127 2120614224
HIBU PLC YELL BQ -2257521127 2120614224
HIBU PLC YELLGBP EO -2257521127 2120614224
HIBU PLC YELL EB -2257521127 2120614224
HIBU PLC YELL9 EO -2257521127 2120614224
HIBU PLC HIBU EO -2257521127 2120614224
HIBU PLC HIBUI GR -2257521127 2120614224
HIBU PLC HIBU TQ -2257521127 2120614224
HIBU PLC YELL NR -2257521127 2120614224
HIBU PLC YE1 GR -2257521127 2120614224
HIBU PLC YELL TQ -2257521127 2120614224
HIBU PLC HIBUEUR EU -2257521127 2120614224
HIBU PLC YELL5 EO -2257521127 2120614224
HIBU PLC HIBUGBP EO -2257521127 2120614224
HIBU PLC YE1 GK -2257521127 2120614224
HIBU PLC HIBU EU -2257521127 2120614224
HIBU PLC YELLUSD EO -2257521127 2120614224
HIBU PLC HIBU1 EO -2257521127 2120614224
HIBU PLC YELL2 EO -2257521127 2120614224
HIBU PLC YELL8 EO -2257521127 2120614224
HIBU PLC YELL4 EO -2257521127 2120614224
HIBU PLC YELLUSD EU -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 QM -218494079.6 415854059.2
HMV GROUP PLC HMVEUR EO -218494079.6 415854059.2
HMV GROUP PLC HMV1 EO -218494079.6 415854059.2
HMV GROUP PLC HMV10 EO -218494079.6 415854059.2
HMV GROUP PLC HMV9 EO -218494079.6 415854059.2
HMV GROUP PLC HMV EU -218494079.6 415854059.2
HMV GROUP PLC HMV4 EO -218494079.6 415854059.2
HMV GROUP PLC HMV BQ -218494079.6 415854059.2
HMV GROUP PLC HMV EB -218494079.6 415854059.2
HMV GROUP PLC HMV3 EO -218494079.6 415854059.2
HMV GROUP PLC HMV VX -218494079.6 415854059.2
HMV GROUP PLC HMV NQ -218494079.6 415854059.2
HMV GROUP PLC HMVUSD EU -218494079.6 415854059.2
HMV GROUP PLC HMV NR -218494079.6 415854059.2
HMV GROUP PLC HMV EO -218494079.6 415854059.2
HMV GROUP PLC HMV LN -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 HMV5 EO -218494079.6 415854059.2
HMV GROUP PLC HMVEUR EU -218494079.6 415854059.2
HMV GROUP PLC HMV TQ -218494079.6 415854059.2
HMV GROUP PLC HMV PZ -218494079.6 415854059.2
HMV GROUP PLC HMV S1 -218494079.6 415854059.2
HMV GROUP PLC HM4 GR -218494079.6 415854059.2
HMV GROUP PLC HMVGBP EO -218494079.6 415854059.2
HMV GROUP PLC HMV8 EO -218494079.6 415854059.2
HMV GROUP PLC HMV2 EO -218494079.6 415854059.2
HMV GROUP PLC HM4 GK -218494079.6 415854059.2
HMV GROUP PLC HMV6 EO -218494079.6 415854059.2
HMV GROUP PLC HMV7 EO -218494079.6 415854059.2
HMV GROUP PLC HMV IX -218494079.6 415854059.2
HMV GROUP PLC HMV PO -218494079.6 415854059.2
HOEGH AUTOLINERS 4288645Z NO -79685780.8 1940832344
HOGG ROBINSON GR HRG VX -43466918.99 713635983.5
HOGG ROBINSON GR HRGL L3 -43466918.99 713635983.5
HOGG ROBINSON GR HRG7 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG EO -43466918.99 713635983.5
HOGG ROBINSON GR HRGEUR EU -43466918.99 713635983.5
HOGG ROBINSON GR HRG EU -43466918.99 713635983.5
HOGG ROBINSON GR HRG LN -43466918.99 713635983.5
HOGG ROBINSON GR HRG3 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG PZ -43466918.99 713635983.5
HOGG ROBINSON GR HRG11 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRGL S2 -43466918.99 713635983.5
HOGG ROBINSON GR HRGGBP EO -43466918.99 713635983.5
HOGG ROBINSON GR HRGL B3 -43466918.99 713635983.5
HOGG ROBINSON GR DQX GR -43466918.99 713635983.5
HOGG ROBINSON GR HRG6 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG2 EO -43466918.99 713635983.5
HOGG ROBINSON GR HOGGF US -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 HRG8 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG5 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG S1 -43466918.99 713635983.5
HOGG ROBINSON GR HRG IX -43466918.99 713635983.5
HOGG ROBINSON GR HRG9 EO -43466918.99 713635983.5
HOGG ROBINSON GR HRG10 EO -43466918.99 713635983.5
HOLCIM ARIDOS SL 4371033Z SM -11196144.03 158669280.5
HOLDINGSELSKABET BOHC IX -11320362.36 176234024
HOLDINGSELSKABET BODIL DC -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
HOTEL CORP PLC HCP EU -234301624.4 370818125.8
HOTEL CORP PLC HCP PO -234301624.4 370818125.8
HOTEL CORP PLC HCP PG -234301624.4 370818125.8
HOTEL CORP PLC HHA GR -234301624.4 370818125.8
HOTEL CORP PLC HCP LN -234301624.4 370818125.8
HOTEL CORP PLC HHA TH -234301624.4 370818125.8
HOTEL CORP PLC HCP PZ -234301624.4 370818125.8
HOTEL CORP PLC HCP EO -234301624.4 370818125.8
HOTEL CORP PLC HCPEUR EO -234301624.4 370818125.8
HOTEL CORP PLC/T HCPL S2 -234301624.4 370818125.8
HOTEL CORP PLC/T HCPL L3 -234301624.4 370818125.8
HOTEL CORP PLC/T HCPL B3 -234301624.4 370818125.8
HOTEL CORP-RFD HCPA LN -234301624.4 370818125.8
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 EO -209432168.7 202700610
I VIAGGI DEL VEN VVE TQ -209432168.7 202700610
I VIAGGI DEL VEN VVE IM -209432168.7 202700610
I VIAGGI DEL VEN IVGIF US -209432168.7 202700610
I VIAGGI DEL VEN VVE PZ -209432168.7 202700610
I VIAGGI DEL VEN VVE IX -209432168.7 202700610
I VIAGGI DEL VEN VVE EU -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 4492755Z BB -676586892.7 1579994753
IDEAL STANDARD I 0288212Z LX -1505758856 1697563897
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
IMTECH NV IRMVF US -23409899.28 4246090270
IMTECH NV IM PZ -23409899.28 4246090270
IMTECH NV IR3 GR -23409899.28 4246090270
IMTECH NV IM NQ -23409899.28 4246090270
IMTECH NV 335862Q LI -23409899.28 4246090270
INCISIVE MED-ASD INMA LN -86381452.08 110502446.1
INCISIVE MEDIA 997071Q GR -86381452.08 110502446.1
INCISIVE MEDIA 4030Z LN -86381452.08 110502446.1
INCISIVE MEDIA 2290657Q LN -86381452.08 110502446.1
INCISIVE MEDIA 2292912Q VX -86381452.08 110502446.1
INCISIVE MEDIA INM PO -86381452.08 110502446.1
INCISIVE MEDIA INM IX -86381452.08 110502446.1
INCISIVE MEDIA 2290661Q PZ -86381452.08 110502446.1
INDEP NEWS & MED IPDC QX -21082599.35 355392389.1
INDEP NEWS & MED INNS VX -21082599.35 355392389.1
INDEP NEWS & MED INM1GBX EO -21082599.35 355392389.1
INDEP NEWS & MED INM1 IX -21082599.35 355392389.1
INDEP NEWS & MED INM1GBX EU -21082599.35 355392389.1
INDEP NEWS & MED INM1 EU -21082599.35 355392389.1
INDEP NEWS & MED INM1 EB -21082599.35 355392389.1
INDEP NEWS & MED INWS ID -21082599.35 355392389.1
INDEP NEWS & MED INM EB -21082599.35 355392389.1
INDEP NEWS & MED IPD PZ -21082599.35 355392389.1
INDEP NEWS & MED INM1 NR -21082599.35 355392389.1
INDEP NEWS & MED INM1 NQ -21082599.35 355392389.1
INDEP NEWS & MED INWS LN -21082599.35 355392389.1
INDEP NEWS & MED INWS PO -21082599.35 355392389.1
INDEP NEWS & MED IPD GR -21082599.35 355392389.1
INDEP NEWS & MED INM LN -21082599.35 355392389.1
INDEP NEWS & MED INM PZ -21082599.35 355392389.1
INDEP NEWS & MED INM1 EO -21082599.35 355392389.1
INDEP NEWS & MED IPDC GK -21082599.35 355392389.1
INDEP NEWS & MED INM1 TQ -21082599.35 355392389.1
INDEP NEWS & MED IPDC GR -21082599.35 355392389.1
INDEP NEWS & MED INM ID -21082599.35 355392389.1
INDEP NEWS & MED INNZF US -21082599.35 355392389.1
INDEP NEWS & MED INP NZ -21082599.35 355392389.1
INDEP NEWS & MED INM S1 -21082599.35 355392389.1
INDEP NEWS & MED IPD PO -21082599.35 355392389.1
INDEP NEWS & MED INM VX -21082599.35 355392389.1
INDEP NEWS & MED INWS IX -21082599.35 355392389.1
INDEP NEWS &-F/P INWF LN -21082599.35 355392389.1
INDEP NEWS &-F/P IPDC ID -21082599.35 355392389.1
INDEP NEWS &-N/P INWN LN -21082599.35 355392389.1
INDEP NEWS &-N/P INDB ID -21082599.35 355392389.1
INDEP NEWS &-NEW IPDA GR -21082599.35 355392389.1
INDEP NEWS &-NEW INWN ID -21082599.35 355392389.1
INDEP NEWS-ADR INNZY US -21082599.35 355392389.1
INDEP NEWSPAPERS QQIAF US -21082599.35 355392389.1
INDEP NEWSPAPERS IPNWF US -21082599.35 355392389.1
INDEPENDENT NEWS IPDCI S2 -21082599.35 355392389.1
INDEPENDENT NEWS IPDCI B3 -21082599.35 355392389.1
INDEPENDENT NEWS INML S2 -21082599.35 355392389.1
INDEPENDENT NEWS INML L3 -21082599.35 355392389.1
INDEPENDENT NEWS INML B3 -21082599.35 355392389.1
INDEPENDENT NEWS IPDCI L3 -21082599.35 355392389.1
INDEPENDENT-FPR INMF PZ -21082599.35 355392389.1
INDEPENDENT-FPR INMF ID -21082599.35 355392389.1
INDEPENDENT-FPR INMF LN -21082599.35 355392389.1
INDEPENDENT-NPR INMN PZ -21082599.35 355392389.1
INDEPENDENT-NPR INMN LN -21082599.35 355392389.1
INDEPENDENT-NPR INMN ID -21082599.35 355392389.1
INDIVIOR PLC INDVL EB -65999997.54 425999990.7
INDIVIOR PLC INDVUSD EO -65999997.54 425999990.7
INDIVIOR PLC INDVL QX -65999997.54 425999990.7
INDIVIOR PLC INDVL IX -65999997.54 425999990.7
INDIVIOR PLC 0678492D LN -65999997.54 425999990.7
INDIVIOR PLC INDVUSD EU -65999997.54 425999990.7
INDIVIOR PLC 2IV GR -65999997.54 425999990.7
INDIVIOR PLC 1186494D GR -65999997.54 425999990.7
INDIVIOR PLC IZQVF US -65999997.54 425999990.7
INDIVIOR PLC INDV LN -65999997.54 425999990.7
INDIVIOR PLC INDVL TQ -65999997.54 425999990.7
INDIVIOR PLC INDVGBX EU -65999997.54 425999990.7
INDIVIOR PLC INDVGBX EO -65999997.54 425999990.7
INDIVIOR PLC-ADR 2IVA GR -65999997.54 425999990.7
INDIVIOR PLC-ADR INVVY US -65999997.54 425999990.7
INDUSTRIBO-B FRMHB DC -49485067.68 159639319.3
INDUSTRIBO-B INBOB 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 -24369568.25 184435792.3
INTEGRALIS AG ACIRF US -24369568.25 184435792.3
INTEGRALIS AG AAGN IX -24369568.25 184435792.3
INTEGRALIS AG AAGN TH -24369568.25 184435792.3
INTEGRALIS-NEW AAGM EO -24369568.25 184435792.3
INTEGRALIS-NEW AAGM GR -24369568.25 184435792.3
INTEGRALIS-NEW AAGM EU -24369568.25 184435792.3
INTELSAT GLOBAL 0440101D US -709347008 16978455552
INTELSAT SA IJSA GR -709347008 16978455552
INTELSAT SA I US -709347008 16978455552
INTERCONTIN-ADR IHGA LN -89000000 3047000064
INTERCONTIN-ADR IHG-W US -89000000 3047000064
INTERCONTIN-ADR IC1C GR -89000000 3047000064
INTERCONTIN-ADR IC1E GR -89000000 3047000064
INTERCONTIN-ADR IHG US -89000000 3047000064
INTERCONTINENTAL IHG IX -89000000 3047000064
INTERCONTINENTAL IC1A GK -89000000 3047000064
INTERCONTINENTAL IC1B GR -89000000 3047000064
INTERCONTINENTAL IHGOF US -89000000 3047000064
INTERCONTINENTAL IHG S1 -89000000 3047000064
INTERCONTINENTAL IHG3 EO -89000000 3047000064
INTERCONTINENTAL IHG10 EO -89000000 3047000064
INTERCONTINENTAL ICHGF US -89000000 3047000064
INTERCONTINENTAL IHG LN -89000000 3047000064
INTERCONTINENTAL 988082Q GR -89000000 3047000064
INTERCONTINENTAL IHG7 EO -89000000 3047000064
INTERCONTINENTAL IHGPEN EO -89000000 3047000064
INTERCONTINENTAL IHGPEN EU -89000000 3047000064
INTERCONTINENTAL IHG VX -89000000 3047000064
INTERCONTINENTAL IHG EB -89000000 3047000064
INTERCONTINENTAL IHG QX -89000000 3047000064
INTERCONTINENTAL IHGL L3 -89000000 3047000064
INTERCONTINENTAL IHG PZ -89000000 3047000064
INTERCONTINENTAL IHGL S2 -89000000 3047000064
INTERCONTINENTAL IHG6 EO -89000000 3047000064
INTERCONTINENTAL IHGUSD EU -89000000 3047000064
INTERCONTINENTAL IHG4 EO -89000000 3047000064
INTERCONTINENTAL IC1 GR -89000000 3047000064
INTERCONTINENTAL IHG PO -89000000 3047000064
INTERCONTINENTAL IHGL B3 -89000000 3047000064
INTERCONTINENTAL IHGGBP EO -89000000 3047000064
INTERCONTINENTAL IHG BQ -89000000 3047000064
INTERCONTINENTAL IHGCHF EO -89000000 3047000064
INTERCONTINENTAL IHG TQ -89000000 3047000064
INTERCONTINENTAL IHG11 EO -89000000 3047000064
INTERCONTINENTAL IHG8 EO -89000000 3047000064
INTERCONTINENTAL IHG NQ -89000000 3047000064
INTERCONTINENTAL INCNF US -89000000 3047000064
INTERCONTINENTAL IC1D GR -89000000 3047000064
INTERCONTINENTAL IHG9 EO -89000000 3047000064
INTERCONTINENTAL IHGUSD EO -89000000 3047000064
INTERCONTINENTAL IHGEUR EU -89000000 3047000064
INTERCONTINENTAL IHGCHF EU -89000000 3047000064
INTERCONTINENTAL IHG EU -89000000 3047000064
INTERCONTINENTAL 0616112D NR -89000000 3047000064
INTERCONTINENTAL IHGEUR EO -89000000 3047000064
INTERCONTINENTAL IHG QM -89000000 3047000064
INTERCONTINENTAL IHG5 EO -89000000 3047000064
INTERCONTINENTAL IHG EO -89000000 3047000064
INTERCONTINENTAL IC1A GR -89000000 3047000064
INTERCONTINENTAL IHG NR -89000000 3047000064
INTERCONTINENTAL IHG2 EO -89000000 3047000064
INTERCONTINENTAL 0615615D GR -89000000 3047000064
INTERCONTINENTAL ICHGD US -89000000 3047000064
INTERNATIO-MUL-S IMS NA -23409899.28 4246090270
INTERNATIO-MUL-W IM-W NA -23409899.28 4246090270
INTERNATIO-MULL IML LI -23409899.28 4246090270
INTERNATIO-MULLE INMLF US -23409899.28 4246090270
INTU METROCENTRE 1203663Z LN -302495159.7 419782439.6
INVITEL HOLD-ADR INVHY US -187076880 1192440960
INVITEL HOLD-ADR IHO US -187076880 1192440960
INVITEL HOLD-ADR 0IN GR -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 ITBG PZ -60693574.46 254428884.6
ISTRABENZ ITBGT B3 -60693574.46 254428884.6
ISTRABENZ ITBG EO -60693574.46 254428884.6
ISTRABENZ ITBG SV -60693574.46 254428884.6
ISTRABENZ ITBGT S2 -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 -287100000 2070899968
JAMES HARDIE IND 726824Z NA -287100000 2070899968
JAMES HARDIE IND 600241Q GR -287100000 2070899968
JAMES HARDIE IND HAH NZ -287100000 2070899968
JAMES HARDIE IND HAH AU -287100000 2070899968
JAMES HARDIE NV JHXCC AU -287100000 2070899968
JAMES HARDIE-ADR JHX US -287100000 2070899968
JAMES HARDIE-ADR JHINY US -287100000 2070899968
JAMES HARDIE-ADR JHX SP -287100000 2070899968
JAMES HARDIE-CDI JHA GR -287100000 2070899968
JAMES HARDIE-CDI JHIUF US -287100000 2070899968
JAMES HARDIE-CDI JHXEUR EO -287100000 2070899968
JAMES HARDIE-CDI JHXEUR EU -287100000 2070899968
JAMES HARDIE-CDI JHX AU -287100000 2070899968
JAMES HARDIE-CDI JHA TH -287100000 2070899968
JARVIS PLC JRVS PO -64738078.31 130947476.6
JARVIS PLC JRVS3 EO -64738078.31 130947476.6
JARVIS PLC JRVS4 EO -64738078.31 130947476.6
JARVIS PLC JRVS2 EO -64738078.31 130947476.6
JARVIS PLC JRVS6 EO -64738078.31 130947476.6
JARVIS PLC JRVS EU -64738078.31 130947476.6
JARVIS PLC JRVS1 EO -64738078.31 130947476.6
JARVIS PLC JRVSGBP EO -64738078.31 130947476.6
JARVIS PLC JRVS5 EO -64738078.31 130947476.6
JARVIS PLC JRVS8 EO -64738078.31 130947476.6
JARVIS PLC JRVS9 EO -64738078.31 130947476.6
JARVIS PLC JVSPF US -64738078.31 130947476.6
JARVIS PLC JRVS EO -64738078.31 130947476.6
JARVIS PLC JVR GR -64738078.31 130947476.6
JARVIS PLC JRVS LN -64738078.31 130947476.6
JARVIS PLC JRVS7 EO -64738078.31 130947476.6
JARVIS PLC JRVS IX -64738078.31 130947476.6
JARVIS PLC JRV EO -64738078.31 130947476.6
JARVIS PLC JRVS VX -64738078.31 130947476.6
JARVIS PLC JRVSEUR EO -64738078.31 130947476.6
JARVIS PLC JRVS PZ -64738078.31 130947476.6
JARVIS PLC JRVSEUR EU -64738078.31 130947476.6
JDR ENTERPRISES 3947788Z LN -62221895.94 150357985.7
JESSOPS PLC JSPEUR EU -42703065.53 112966830.6
JESSOPS PLC JSP PO -42703065.53 112966830.6
JESSOPS PLC JSP EU -42703065.53 112966830.6
JESSOPS PLC JSP IX -42703065.53 112966830.6
JESSOPS PLC JSP LN -42703065.53 112966830.6
JESSOPS PLC JSP VX -42703065.53 112966830.6
JESSOPS PLC JS4 GR -42703065.53 112966830.6
JESSOPS PLC JSP PZ -42703065.53 112966830.6
JESSOPS PLC JSPGBP EO -42703065.53 112966830.6
JESSOPS PLC JSPEUR EO -42703065.53 112966830.6
JESSOPS PLC JSP EO -42703065.53 112966830.6
JEUDAN III A/S 3986972Z DC -80338193.89 277838976.7
JIMMY CHOO LTD 498464Z LN -49807863.41 1280944908
JIMMY CHOO PLC JYMHF US -49807863.41 1280944908
JIMMY CHOO PLC JIM TH -49807863.41 1280944908
JIMMY CHOO PLC CHOOGBX EU -49807863.41 1280944908
JIMMY CHOO PLC CHOOL IX -49807863.41 1280944908
JIMMY CHOO PLC JIM GR -49807863.41 1280944908
JIMMY CHOO PLC CHOOUSD EU -49807863.41 1280944908
JIMMY CHOO PLC CHOOUSD EO -49807863.41 1280944908
JIMMY CHOO PLC CHOOEUR EO -49807863.41 1280944908
JIMMY CHOO PLC CHOOI TQ -49807863.41 1280944908
JIMMY CHOO PLC JIM QT -49807863.41 1280944908
JIMMY CHOO PLC CHOOL S1 -49807863.41 1280944908
JIMMY CHOO PLC CHOO LN -49807863.41 1280944908
JIMMY CHOO PLC CHOOL TQ -49807863.41 1280944908
JIMMY CHOO PLC CHOOL BQ -49807863.41 1280944908
JIMMY CHOO PLC CHOOL EB -49807863.41 1280944908
JIMMY CHOO PLC CHOOGBX EO -49807863.41 1280944908
JIMMY CHOO PLC CHOOEUR EU -49807863.41 1280944908
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 -2073091926 3226967886
KABEL DEUTS-CW10 DB7KWG GR -2073091926 3226967886
KABEL DEUTSC-ADR KBDHY US -2073091926 3226967886
KABEL DEUTSC-NEW KD8VEUR EO -2073091926 3226967886
KABEL DEUTSC-NEW KD8VEUR EU -2073091926 3226967886
KABEL DEUTSCHLAN KD8CHF EO -2073091926 3226967886
KABEL DEUTSCHLAN KD8CHF EU -2073091926 3226967886
KABEL DEUTSCHLAN KD8D S2 -2073091926 3226967886
KABEL DEUTSCHLAN KD8 QM -2073091926 3226967886
KABEL DEUTSCHLAN KD8 QT -2073091926 3226967886
KABEL DEUTSCHLAN KD8 EO -2073091926 3226967886
KABEL DEUTSCHLAN KD8D B3 -2073091926 3226967886
KABEL DEUTSCHLAN KD8 SW -2073091926 3226967886
KABEL DEUTSCHLAN KD8 TH -2073091926 3226967886
KABEL DEUTSCHLAN KBDHF US -2073091926 3226967886
KABEL DEUTSCHLAN KD8 IX -2073091926 3226967886
KABEL DEUTSCHLAN KD8 LI -2073091926 3226967886
KABEL DEUTSCHLAN KD8USD EO -2073091926 3226967886
KABEL DEUTSCHLAN KD8 NR -2073091926 3226967886
KABEL DEUTSCHLAN KD8 EB -2073091926 3226967886
KABEL DEUTSCHLAN KD8 BQ -2073091926 3226967886
KABEL DEUTSCHLAN KD8 QX -2073091926 3226967886
KABEL DEUTSCHLAN KD8 TQ -2073091926 3226967886
KABEL DEUTSCHLAN KD8GBP EO -2073091926 3226967886
KABEL DEUTSCHLAN KD8USD EU -2073091926 3226967886
KABEL DEUTSCHLAN KD8 S1 -2073091926 3226967886
KABEL DEUTSCHLAN KD8 EU -2073091926 3226967886
KABEL DEUTSCHLAN KD8 GR -2073091926 3226967886
KABEL DEUTSCHLAN KD8D L3 -2073091926 3226967886
KABEL DEUTSCHLAN KD8 PZ -2073091926 3226967886
KARENI BV 3140496Z NA -22200.29082 127062363.4
KAUFRING AG KFR EU -19296489.56 150995473.8
KAUFRING AG KFR GR -19296489.56 150995473.8
KAUFRING AG KFR PZ -19296489.56 150995473.8
KAUFRING AG KFR EO -19296489.56 150995473.8
KAUFRING AG KAUG IX -19296489.56 150995473.8
KCA DEUTAG DRILL 2173132Z LN -40951514.04 214072287.9
KEREVITAS GIDA KERVT TI -16051935.22 175475066
KEREVITAS GIDA KVTGF US -16051935.22 175475066
KESA ELECTRI-ADR KESAY US -418911342.6 1563994117
KESA ELECTRICALS KESAUSD EU -418911342.6 1563994117
KESA ELECTRICALS KES EO -418911342.6 1563994117
KESA ELECTRICALS KESAGBP EO -418911342.6 1563994117
KESA ELECTRICALS KESAI IX -418911342.6 1563994117
KESA ELECTRICALS KESA PO -418911342.6 1563994117
KESA ELECTRICALS KESA EU -418911342.6 1563994117
KESA ELECTRICALS KESA PZ -418911342.6 1563994117
KESA ELECTRICALS KESAUSD EO -418911342.6 1563994117
KESA ELECTRICALS KESA LN -418911342.6 1563994117
KESA ELECTRICALS KESA VX -418911342.6 1563994117
KESA ELECTRICALS KESAEUR EO -418911342.6 1563994117
KESA ELECTRICALS KESAEUR EU -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
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 KRS1EUR EO -2241576.868 111836250.4
KROSNO 1169011D PW -2241576.868 111836250.4
KROSNO KROS IX -2241576.868 111836250.4
KROSNO KRS LI -2241576.868 111836250.4
KROSNO SA KRS1 EO -2241576.868 111836250.4
KROSNO SA KRS1 EU -2241576.868 111836250.4
KROSNO SA KROSNO PW -2241576.868 111836250.4
KROSNO SA KRS PZ -2241576.868 111836250.4
KROSNO SA KRNFF US -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 MTST RU -1447901.309 550023663.4
KUZNETSOV-BRD MTST* RU -1447901.309 550023663.4
KUZNETSOV-BRD MTSTP RU -1447901.309 550023663.4
KUZNETSOV-BRD MTSTP* RU -1447901.309 550023663.4
LA GIOVANNI-RTS CREAXA IM -42072998.36 291988991.4
LA HALLE SA 4681697Z FP -9779394.712 506881489.8
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 SEDE B3 -739717245.2 686984724.9
LA SEDA DE BARCE SEDE S2 -739717245.2 686984724.9
LA SEDA DE BARCE 0543025D SM -739717245.2 686984724.9
LA SEDA DE BARCE 3687081Q 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
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 LMBKF US -98128969.86 188912550.2
LAMBRAKIS PRESS DOLR GA -98128969.86 188912550.2
LAMBRAKIS PRESS LA3 GR -98128969.86 188912550.2
LAMBRAKIS PRESS DOL EU -98128969.86 188912550.2
LAMBRAKIS PRESS DOL PZ -98128969.86 188912550.2
LAMBRAKIS PRESS DOL EO -98128969.86 188912550.2
LAMBRAKIS PRESS LA3A GR -98128969.86 188912550.2
LAMBRAKIS PRESS DOL GA -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 INBO IX -49485067.68 159639319.3
LASTAS A/S-B SHS LASTB BY -49485067.68 159639319.3
LASTAS A/S-B SHS LASTB EO -49485067.68 159639319.3
LASTAS A/S-B SHS LASTB DC -49485067.68 159639319.3
LASTAS A/S-B SHS LASTB EU -49485067.68 159639319.3
LASTAS A/S-B SHS LASTBEUR EO -49485067.68 159639319.3
LASTAS A/S-B SHS LASTBEUR EU -49485067.68 159639319.3
LASTAS A/S-B SHS LAST/B PZ -49485067.68 159639319.3
LATIMER GROUP LT 4089809Z LN -879564577.7 791552405.4
LAVIPHARM S.A. LAVIY S2 -49279891.49 118373319.4
LAVIPHARM S.A. LAVIY B3 -49279891.49 118373319.4
LAVIPHARM S.A. LAVIY L3 -49279891.49 118373319.4
LAVIPHARM SA LAVI PZ -49279891.49 118373319.4
LAVIPHARM SA LVP GR -49279891.49 118373319.4
LAVIPHARM SA LAVI EO -49279891.49 118373319.4
LAVIPHARM SA BXA GR -49279891.49 118373319.4
LAVIPHARM SA LVIXF US -49279891.49 118373319.4
LAVIPHARM SA LAVI GA -49279891.49 118373319.4
LAVIPHARM SA LAVI EU -49279891.49 118373319.4
LAVIPHARM SA-RTS LAVIR GA -49279891.49 118373319.4
LAVIPHARM SA-RTS LAVID GA -49279891.49 118373319.4
LAVIPHARM-AUC LAVIE GA -49279891.49 118373319.4
LEEDS SPORTING LEDPF US -73166148.8 143762193.7
LEEDS SPORTING LES LN -73166148.8 143762193.7
LEEDS UNITED PLC 889687Q GR -73166148.8 143762193.7
LEEDS UNITED PLC LUFC LN -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 EU -39648682.41 209021322.6
LIBRA GROUP PLC LHG CY -39648682.41 209021322.6
LIBRA GROUP PLC LHG EO -39648682.41 209021322.6
LIBRA GROUP PLC LHGCYP EO -39648682.41 209021322.6
LIBRA GROUP PLC LHGCYP EU -39648682.41 209021322.6
LIBRA HOLIDA-RTS LGWR CY -39648682.41 209021322.6
LIBRA HOLIDA-RTS LBR 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 CY -39648682.41 209021322.6
LIBRA HOLIDAYS-P LBHG PZ -39648682.41 209021322.6
LIBRO AG LIBR AV -110486313.8 174004185
LIBRO AG LB6 GR -110486313.8 174004185
LIBRO AG LIB AV -110486313.8 174004185
LIBRO AG LBROF US -110486313.8 174004185
LIGHT METALS IND ETEMY L3 -5867077.943 167228010.4
LIGHT METALS IND ETEMY S2 -5867077.943 167228010.4
LIGHT METALS IND ETEMY B3 -5867077.943 167228010.4
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 EU -2861100.078 140584053.8
LOEWE AG LOE EO -2861100.078 140584053.8
LOEWE AG LOEK BQ -2861100.078 140584053.8
LOEWE AG LOEG IX -2861100.078 140584053.8
LOEWE AG LOE TQ -2861100.078 140584053.8
LOEWE AG LOEK TQ -2861100.078 140584053.8
LOEWE AG LOE S1 -2861100.078 140584053.8
LOEWE AG LOEEF US -2861100.078 140584053.8
LOEWE AG LOE BQ -2861100.078 140584053.8
LOEWE AG LOEK GR -2861100.078 140584053.8
LOEWE AG LOE GR -2861100.078 140584053.8
LOEWE AG LOE TH -2861100.078 140584053.8
LOEWE AG LOEK QT -2861100.078 140584053.8
LOEWE AG LOE PZ -2861100.078 140584053.8
LOFTUS ROAD PLC LFURF US -193935862.6 120047585.7
LOMBARD CORPORAT 1162975Z LN -7309362.404 198951662.4
LONDON TOWN PLC LTW PZ -21897636.36 175672299.2
LONDON TOWN PLC LTW PG -21897636.36 175672299.2
LONDON TOWN PLC LTW EO -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 LTWR LN -21897636.36 175672299.2
LONDON TOWN PLC LTWX LN -21897636.36 175672299.2
LONDON TOWN PLC LTW EU -21897636.36 175672299.2
LONDON TOWN PLC LOU GR -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 MGMARA CZ -14866764.5 104029160.5
MAGMA DD MGMAREUR EU -14866764.5 104029160.5
MAGMA DD MGMARHRK EU -14866764.5 104029160.5
MAGMA DD MGMAREUR EO -14866764.5 104029160.5
MAGMA DD MGMARHRK EO -14866764.5 104029160.5
MAGNETI MARELLI 3643903Z SM -249160.3447 256260168.7
MAILLIS MLISF US -123504331.2 351544119.3
MAILLIS -RTS MAIKR GA -123504331.2 351544119.3
MAILLIS-SPON ADR MJMSY US -123504331.2 351544119.3
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 MNI S1 -35060806.41 107465704.6
MANIA TECHNOLOGI MNI NM -35060806.41 107465704.6
MANIA TECHNOLOGI MIAVF US -35060806.41 107465704.6
MANIA TECHNOLOGI MNI TH -35060806.41 107465704.6
MANIA TECHNOLOGI MNI PZ -35060806.41 107465704.6
MANIA TECHNOLOGI MNI1 EO -35060806.41 107465704.6
MANIA TECHNOLOGI MNI1 EU -35060806.41 107465704.6
MANIA TECHNOLOGI MNIG IX -35060806.41 107465704.6
MANIA TECHNOLOGI MNI GR -35060806.41 107465704.6
MANIA TECHNOLOGI 2260970Z GR -35060806.41 107465704.6
MAPELEY STEPS CO 1914846Z LN -65795182.14 128959683.5
MARCONI PLC MY2 GR -2203513803 7204891602
MARCONI PLC MONI BB -2203513803 7204891602
MARCONI PLC MNI BB -2203513803 7204891602
MARCONI PLC MNI LN -2203513803 7204891602
MARCONI PLC MRCQF US -2203513803 7204891602
MARCONI PLC 203083Q VX -2203513803 7204891602
MARCONI PLC-ADR MONIY US -2203513803 7204891602
MARCONI PLC-ADR MRCQY US -2203513803 7204891602
MARCONI PLC-ADR MCONY US -2203513803 7204891602
MARCONI PLC-ADR MONI US -2203513803 7204891602
MARCONI PLC-ADR MCBA GR -2203513803 7204891602
MARCONI PLC-ADR MY2A GR -2203513803 7204891602
MARCONI PLC-ADR QUQMON AU -2203513803 7204891602
MARCONI PLC-ADR MONIE US -2203513803 7204891602
MARINE SUBSEA AS MSAS NO -280249984 357512992
MARINOTEIS-SOCIE 4753761Z PL -14953194.76 133756219.5
MARTINSA FADESA MTF EU -6123135794 3459529920
MARTINSA FADESA MFAD PZ -6123135794 3459529920
MARTINSA FADESA MTF SM -6123135794 3459529920
MARTINSA FADESA MTF1 LI -6123135794 3459529920
MARTINSA FADESA 4PU GR -6123135794 3459529920
MARTINSA FADESA MTF EO -6123135794 3459529920
MARTINSA-FADESA MTF NR -6123135794 3459529920
MATERNUS KLINI-N MAK1 GR -44477800.05 168038275.8
MATERNUS-KLINIKE MAK TH -44477800.05 168038275.8
MATERNUS-KLINIKE MAK S1 -44477800.05 168038275.8
MATERNUS-KLINIKE MAKD L3 -44477800.05 168038275.8
MATERNUS-KLINIKE MAK EU -44477800.05 168038275.8
MATERNUS-KLINIKE MAK GR -44477800.05 168038275.8
MATERNUS-KLINIKE MAK EO -44477800.05 168038275.8
MATERNUS-KLINIKE MNUKF US -44477800.05 168038275.8
MATERNUS-KLINIKE MAKG IX -44477800.05 168038275.8
MATERNUS-KLINIKE MAK PZ -44477800.05 168038275.8
MATERNUS-KLINIKE MAKD S2 -44477800.05 168038275.8
MATERNUS-KLINIKE MAKD B3 -44477800.05 168038275.8
MATERNUS-KLINIKE MAK QT -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 ID -137972148.5 304108432.2
MCINERNEY -RT FP MCIF LN -137972148.5 304108432.2
MCINERNEY -RT NP MCIN ID -137972148.5 304108432.2
MCINERNEY -RT NP MCIN LN -137972148.5 304108432.2
MCINERNEY HLDGS MK9C PZ -137972148.5 304108432.2
MCINERNEY HLDGS MCIGBX EU -137972148.5 304108432.2
MCINERNEY HLDGS MCI PO -137972148.5 304108432.2
MCINERNEY HLDGS MK9 GR -137972148.5 304108432.2
MCINERNEY HLDGS MCI VX -137972148.5 304108432.2
MCINERNEY HLDGS MCI EU -137972148.5 304108432.2
MCINERNEY HLDGS MCI LN -137972148.5 304108432.2
MCINERNEY HLDGS MK9 PO -137972148.5 304108432.2
MCINERNEY HLDGS MCI IX -137972148.5 304108432.2
MCINERNEY HLDGS MCII IX -137972148.5 304108432.2
MCINERNEY HLDGS MNEYF US -137972148.5 304108432.2
MCINERNEY HLDGS MCIGBP EO -137972148.5 304108432.2
MCINERNEY HLDGS MCI ID -137972148.5 304108432.2
MCINERNEY HLDGS MCI EO -137972148.5 304108432.2
MCINERNEY HLDGS MCIGBX EO -137972148.5 304108432.2
MCINERNEY PROP-A MYP ID -137972148.5 304108432.2
MCINERNEY PROP-A MYP LN -137972148.5 304108432.2
MCINERNEY PROP-A MCIYF US -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 MTLR0 RM -221372976 11383539712
MECHEL MTLRG RU -221372976 11383539712
MECHEL MTLR2 RM -221372976 11383539712
MECHEL MTLR* RU -221372976 11383539712
MECHEL MTLR RU -221372976 11383539712
MECHEL MTLR RM -221372976 11383539712
MECHEL OAO-ADR SAM LI -221372976 11383539712
MECHEL-ADR FQF GR -221372976 11383539712
MECHEL-PFD MTLRP0 RM -221372976 11383539712
MECHEL-PFD MTLRPG RU -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 MTLUSD EU -221372976 11383539712
MECHEL-SPON ADR MHSA GR -221372976 11383539712
MECHEL-SPON ADR FQFG IX -221372976 11383539712
MECHEL-SPON ADR MTLUSD EO -221372976 11383539712
MECHEL-SPON ADR MTL US -221372976 11383539712
MEDIMMUNE LTD 1596402Z LN -1136873211 581445076.9
MERIDIANA SPA 1163Z IM -4509241.938 181803591.5
MERLIN PROPERTIE MRLE L3 -153310244.4 1466403680
MERLIN PROPERTIE MRLE B3 -153310244.4 1466403680
MERLIN PROPERTIE MRLE S2 -153310244.4 1466403680
MERLIN PROPERTIE MRLE EB -153310244.4 1466403680
MERLIN PROPERTIE MRLE S1 -153310244.4 1466403680
MERLIN PROPERTIE MRLN MM -153310244.4 1466403680
MERLIN PROPERTIE MRL SM -153310244.4 1466403680
MERLIN PROPERTIE MRPRF US -153310244.4 1466403680
MERLIN PROPERTIE MEQA GR -153310244.4 1466403680
MERLIN PROPERTIE MEQ GR -153310244.4 1466403680
MERLIN PROPERTIE 1008762D SM -153310244.4 1466403680
MERLIN PROPERTIE MRLEUR EU -153310244.4 1466403680
MERLIN PROPERTIE MRLE IX -153310244.4 1466403680
MERLIN PROPERTIE MRLEUR EO -153310244.4 1466403680
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 -1208063687 6484900913
MICRO FOCUS INTL MCRO6 EO -2795000 571790976
MICRO FOCUS INTL MCRO NQ -2795000 571790976
MICRO FOCUS INTL MCRO QM -2795000 571790976
MICRO FOCUS INTL MCROL S1 -2795000 571790976
MICRO FOCUS INTL MCROUSD EO -2795000 571790976
MICRO FOCUS INTL MCROPEN EU -2795000 571790976
MICRO FOCUS INTL MCRO PZ -2795000 571790976
MICRO FOCUS INTL M7Q1 GR -2795000 571790976
MICRO FOCUS INTL MCRO IX -2795000 571790976
MICRO FOCUS INTL MCRO TQ -2795000 571790976
MICRO FOCUS INTL MCRO7 EO -2795000 571790976
MICRO FOCUS INTL M7Q3 GR -2795000 571790976
MICRO FOCUS INTL MCROPEN EO -2795000 571790976
MICRO FOCUS INTL MCRO LN -2795000 571790976
MICRO FOCUS INTL MCROL L3 -2795000 571790976
MICRO FOCUS INTL MCRO9 EO -2795000 571790976
MICRO FOCUS INTL MCROL S2 -2795000 571790976
MICRO FOCUS INTL MCRO8 EO -2795000 571790976
MICRO FOCUS INTL MCRO2 EO -2795000 571790976
MICRO FOCUS INTL M7Q GK -2795000 571790976
MICRO FOCUS INTL MCRO1 EO -2795000 571790976
MICRO FOCUS INTL MCRO EB -2795000 571790976
MICRO FOCUS INTL MCRO QX -2795000 571790976
MICRO FOCUS INTL MCRO VX -2795000 571790976
MICRO FOCUS INTL MCROGBP EO -2795000 571790976
MICRO FOCUS INTL MCRO S1 -2795000 571790976
MICRO FOCUS INTL MCRO5 EO -2795000 571790976
MICRO FOCUS INTL MCROEUR EU -2795000 571790976
MICRO FOCUS INTL MCROL B3 -2795000 571790976
MICRO FOCUS INTL MCRO BQ -2795000 571790976
MICRO FOCUS INTL MCRO EO -2795000 571790976
MICRO FOCUS INTL MCFUD US -2795000 571790976
MICRO FOCUS INTL MCRO EU -2795000 571790976
MICRO FOCUS INTL MCROEUR EO -2795000 571790976
MICRO FOCUS INTL MCFUF US -2795000 571790976
MICRO FOCUS INTL MCRO4 EO -2795000 571790976
MICRO FOCUS INTL MCROUSD EU -2795000 571790976
MICRO FOCUS INTL MCRO PO -2795000 571790976
MICRO FOCUS INTL MCRO3 EO -2795000 571790976
MICRO FOCUS INTL M7Q2 GR -2795000 571790976
MICRO FOCUS INTL MCR2 EO -2795000 571790976
MICRO FOCUS INTL MCRO NR -2795000 571790976
MICRO FOCUS INTL MCROL BQ -2795000 571790976
MICRO FOCUS INTL M7Q GR -2795000 571790976
MICRO FOCUS-ADR MCFUY US -2795000 571790976
MICRO FOCUS-ADR 1120744D GR -2795000 571790976
MIDLAND EXPRESSW 583730Z LN -286663046.8 1047022514
MILLENNIUM STADI 1727672Z LN -35927709.3 143590875.7
MILLIMAGES MILT FP -1006036.19 113452793.4
MILLIMAGES 8131905Q FP -1006036.19 113452793.4
MILLIMAGES MILI FP -1006036.19 113452793.4
MILLIMAGES MLMG IX -1006036.19 113452793.4
MILLIMAGES MIL1 EO -1006036.19 113452793.4
MILLIMAGES MG6 GR -1006036.19 113452793.4
MILLIMAGES MILF PZ -1006036.19 113452793.4
MILLIMAGES MIL S1 -1006036.19 113452793.4
MILLIMAGES MLIGF US -1006036.19 113452793.4
MILLIMAGES MIL1 PZ -1006036.19 113452793.4
MILLIMAGES MIL1 EU -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 MIL1EUR EU -1006036.19 113452793.4
MILLIMAGES -REGR MIL EB -1006036.19 113452793.4
MILLIMAGES -REGR MIL FP -1006036.19 113452793.4
MILLIMAGES -REGR MIL IX -1006036.19 113452793.4
MILLIMAGES -REGR MIL TQ -1006036.19 113452793.4
MILLIMAGES -REGR MIL1EUR EO -1006036.19 113452793.4
MILLIMAGES NR - MILP B3 -1006036.19 113452793.4
MILLIMAGES NR - MILNRP S2 -1006036.19 113452793.4
MILLIMAGES NR - MILP L3 -1006036.19 113452793.4
MILLIMAGES NR - MILNRP L3 -1006036.19 113452793.4
MILLIMAGES NR - MILP S2 -1006036.19 113452793.4
MILLIMAGES NR - MILNRP B3 -1006036.19 113452793.4
MILLIMAGES-RTS MILDS FP -1006036.19 113452793.4
MILLIMAGES-RTS 760037Q FP -1006036.19 113452793.4
MJ MAILLIS S.A. MAIK EO -123504331.2 351544119.3
MJ MAILLIS S.A. MAIK GA -123504331.2 351544119.3
MJ MAILLIS S.A. MJL GR -123504331.2 351544119.3
MJ MAILLIS S.A. MAIK EU -123504331.2 351544119.3
MJ MAILLIS S.A. MAIKY L3 -123504331.2 351544119.3
MJ MAILLIS S.A. MAIK PZ -123504331.2 351544119.3
MJ MAILLIS S.A. MAIKY S2 -123504331.2 351544119.3
MJ MAILLIS S.A. MAIKY B3 -123504331.2 351544119.3
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 NQ -62838511.24 491368809.7
MOUCHEL GROUP PL MCHLEUR EU -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL EB -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL TQ -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL NR -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL VX -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL S1 -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL BQ -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL EO -62838511.24 491368809.7
MOUCHEL GROUP PL MCHLEUR EO -62838511.24 491368809.7
MOUCHEL GROUP PL MCHLGBP EO -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL LN -62838511.24 491368809.7
MOUCHEL GROUP PL MOUCF US -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL EU -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL IX -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL QM -62838511.24 491368809.7
MOUCHEL GROUP PL MO6 GR -62838511.24 491368809.7
MOUCHEL GROUP PL MCHL PZ -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 MT/S LN -379731744 1817560463
MYTRAVEL GROUP ARO2 GR -379731744 1817560463
MYTRAVEL GROUP MT/S VX -379731744 1817560463
MYTRAVEL GROUP MYTPF US -379731744 1817560463
MYTRAVEL GROUP 3544280Q IX -379731744 1817560463
MYTRAVEL GROUP MT/S PO -379731744 1817560463
MYTRAVEL GROUP P MT/ VX -379731744 1817560463
MYTRAVEL GROUP P MT/ LN -379731744 1817560463
MYTRAVEL GROUP P 1018144Q GR -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 GA -221551.2364 429186289.2
NEORION HOLDINGS NEORS EU -221551.2364 429186289.2
NEORION HOLDINGS NEORS PZ -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 RETAIL 2711544Z LN -585235291.1 2073906244
NEW STAR ASSET NSAM TQ -397728016.9 292980082.9
NEW STAR ASSET 3226435Q EO -397728016.9 292980082.9
NEW STAR ASSET 3226443Q EO -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 3226447Q EO -397728016.9 292980082.9
NEW STAR ASSET NSAM PZ -397728016.9 292980082.9
NEW STAR ASSET 3226431Q EU -397728016.9 292980082.9
NEW STAR ASSET NSAM IX -397728016.9 292980082.9
NEW STAR ASSET NWSAF US -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 M NSAM LN -397728016.9 292980082.9
NEW WORLD R-A SH NWR QM -408863893.5 1083612407
NEW WORLD R-A SH NWR LN -408863893.5 1083612407
NEW WORLD R-A SH NWRUK TQ -408863893.5 1083612407
NEW WORLD R-A SH NW5D L3 -408863893.5 1083612407
NEW WORLD R-A SH NWRW B3 -408863893.5 1083612407
NEW WORLD R-A SH NWR TQ -408863893.5 1083612407
NEW WORLD R-A SH NWR S1 -408863893.5 1083612407
NEW WORLD R-A SH NW5 GR -408863893.5 1083612407
NEW WORLD R-A SH NWRUKK L3 -408863893.5 1083612407
NEW WORLD R-A SH NWRL L3 -408863893.5 1083612407
NEW WORLD R-A SH NWR PZ -408863893.5 1083612407
NEW WORLD R-A SH NWR CP -408863893.5 1083612407
NEW WORLD R-A SH NWRL S2 -408863893.5 1083612407
NEW WORLD R-A SH NWRW S2 -408863893.5 1083612407
NEW WORLD R-A SH NWRW L3 -408863893.5 1083612407
NEW WORLD R-A SH NWR EB -408863893.5 1083612407
NEW WORLD R-A SH NWR EO -408863893.5 1083612407
NEW WORLD R-A SH NW5D B3 -408863893.5 1083612407
NEW WORLD R-A SH NWR IX -408863893.5 1083612407
NEW WORLD R-A SH NW5D S2 -408863893.5 1083612407
NEW WORLD R-A SH NWRUKK S2 -408863893.5 1083612407
NEW WORLD R-A SH NWR NR -408863893.5 1083612407
NEW WORLD R-A SH NWR PW -408863893.5 1083612407
NEW WORLD R-A SH NWR1 TQ -408863893.5 1083612407
NEW WORLD R-A SH NWR BQ -408863893.5 1083612407
NEW WORLD R-A SH NWR EU -408863893.5 1083612407
NEW WORLD R-A SH NWRL B3 -408863893.5 1083612407
NEW WORLD R-A SH NWRUKK B3 -408863893.5 1083612407
NEW WORLD R-B 0743168D LN -408863893.5 1083612407
NEW WORLD R-RTS NWRP PW -408863893.5 1083612407
NEW WORLD R-RTSF NWRFGBX EU -408863893.5 1083612407
NEW WORLD R-RTSF NWRFGBX EO -408863893.5 1083612407
NEW WORLD R-RTSF NWRF LN -408863893.5 1083612407
NEW WORLD R-RTSN NWRNGBX EU -408863893.5 1083612407
NEW WORLD R-RTSN NWRN LN -408863893.5 1083612407
NEW WORLD R-RTSN NWRNCZK EU -408863893.5 1083612407
NEW WORLD R-RTSN NWRNCZK EO -408863893.5 1083612407
NEW WORLD R-RTSN NWRNGBX EO -408863893.5 1083612407
NEW WORLD RESO-A NWN CP -384027812 1272921897
NEW WORLD RESO-A A37PLN EO -384027812 1272921897
NEW WORLD RESO-A NWRN1PLN EU -384027812 1272921897
NEW WORLD RESO-A A37 EO -384027812 1272921897
NEW WORLD RESO-A A37 NQ -384027812 1272921897
NEW WORLD RESO-A A37PLN EU -384027812 1272921897
NEW WORLD RESO-A A37GBX EO -384027812 1272921897
NEW WORLD RESO-A A37 EU -384027812 1272921897
NEW WORLD RESO-A 1062172D LN -384027812 1272921897
NEW WORLD RESO-A NWRN1 EO -384027812 1272921897
NEW WORLD RESO-A NWRSI IX -384027812 1272921897
NEW WORLD RESO-A A37CZK EO -384027812 1272921897
NEW WORLD RESO-A A37USD EO -384027812 1272921897
NEW WORLD RESO-A A37 TQ -384027812 1272921897
NEW WORLD RESO-A A37 BQ -384027812 1272921897
NEW WORLD RESO-A NWRN1 NR -384027812 1272921897
NEW WORLD RESO-A NWRN1 BQ -384027812 1272921897
NEW WORLD RESO-A NWRN1GBX EO -384027812 1272921897
NEW WORLD RESO-A A37 NR -384027812 1272921897
NEW WORLD RESO-A NWRN1 QM -384027812 1272921897
NEW WORLD RESO-A 2777648Z LX -384027812 1272921897
NEW WORLD RESO-A NWRN1GBX EU -384027812 1272921897
NEW WORLD RESO-A 0882467D TQ -384027812 1272921897
NEW WORLD RESO-A NWRS IX -384027812 1272921897
NEW WORLD RESO-A A37USD EU -384027812 1272921897
NEW WORLD RESO-A NWRN1CZK EU -384027812 1272921897
NEW WORLD RESO-A NWRN1GBP EO -384027812 1272921897
NEW WORLD RESO-A NWRN1 TQ -384027812 1272921897
NEW WORLD RESO-A A37GBP EO -384027812 1272921897
NEW WORLD RESO-A NWRN1 EU -384027812 1272921897
NEW WORLD RESO-A NWCSF US -384027812 1272921897
NEW WORLD RESO-A A37CZK EU -384027812 1272921897
NEW WORLD RESO-A 1083235D GR -384027812 1272921897
NEW WORLD RESO-A NWRN1USD EU -384027812 1272921897
NEW WORLD RESO-A NWRN1CZK EO -384027812 1272921897
NEW WORLD RESO-A NWRN PZ -384027812 1272921897
NEW WORLD RESO-A A37 QM -384027812 1272921897
NEW WORLD RESO-A A37GBX EU -384027812 1272921897
NEW WORLD RESO-A NWRN1PLN EO -384027812 1272921897
NEW WORLD RESO-A NWRN1USD EO -384027812 1272921897
NEW WORLD RESO-B 0746517D NA -384027812 1272921897
NEW WORLD RESOUR 1064273D LN -408863893.5 1083612407
NEW WORLD RESOUR NWN PW -384027812 1272921897
NEW WORLD RESOUR 973960Z NA -384027812 1272921897
NEW WORLD-RTS NWRSR CP -408863893.5 1083612407
NEWCASTLE UNITED 1060322Z LN -49091585.54 238073462.4
NEWCASTLE UNITED 4380361Z LN -33690958.84 234612813.1
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
NIKAS SA - RTS NIKAR GA -25339406.16 106379335.5
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 L3 -27413160.84 501988437.8
NORDICOM A/S NRDCC S2 -27413160.84 501988437.8
NORDICOM A/S NRDCC B3 -27413160.84 501988437.8
NORDICOM A/S-RTS NRDCT DC -27413160.84 501988437.8
NORDICOM AS NRDC BY -27413160.84 501988437.8
NORDICOM AS NRDC EU -27413160.84 501988437.8
NORDICOM AS NRDC TQ -27413160.84 501988437.8
NORDICOM AS NRDC IX -27413160.84 501988437.8
NORDICOM AS NRDCEUR EO -27413160.84 501988437.8
NORDICOM AS NRDC EO -27413160.84 501988437.8
NORDICOM AS CEPH DC -27413160.84 501988437.8
NORDICOM AS NRDC PZ -27413160.84 501988437.8
NORDICOM AS NRDC DC -27413160.84 501988437.8
NORDICOM AS NRDCEUR EU -27413160.84 501988437.8
NORDICOM AS NRDCC EB -27413160.84 501988437.8
NORDICOM AS-NEW NORN DC -27413160.84 501988437.8
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 NFDSEUR EU -70166768.88 924680805.3
NORTHERN FOODS NFDS NR -70166768.88 924680805.3
NORTHERN FOODS 1168905D GR -70166768.88 924680805.3
NORTHERN FOODS NFDSUSD EU -70166768.88 924680805.3
NORTHERN FOODS NFDS IX -70166768.88 924680805.3
NORTHERN FOODS NFDS BQ -70166768.88 924680805.3
NORTHERN FOODS NFDSEUR EO -70166768.88 924680805.3
NORTHERN FOODS NFDS S1 -70166768.88 924680805.3
NORTHERN FOODS NFO GK -70166768.88 924680805.3
NORTHERN FOODS NFDS VX -70166768.88 924680805.3
NORTHERN FOODS NFDSUSD EO -70166768.88 924680805.3
NORTHERN FOODS NFDS EO -70166768.88 924680805.3
NORTHERN FOODS NFDS QM -70166768.88 924680805.3
NORTHERN FOODS NFDS EU -70166768.88 924680805.3
NORTHERN FOODS NFDS TQ -70166768.88 924680805.3
NORTHERN FOODS NFDS PO -70166768.88 924680805.3
NORTHERN FOODS NTFOF US -70166768.88 924680805.3
NORTHERN FOODS NFDSGBP EO -70166768.88 924680805.3
NORTHERN FOODS NFDS NQ -70166768.88 924680805.3
NORTHERN FOODS NFDS EB -70166768.88 924680805.3
NORTHERN FOODS NFDS PZ -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 1009610Q NO -347363008 314752992
NORTHLAND RE-RES NRIR NO -347363008 314752992
NORTHLAND RESOUR NAURO B3 -347363008 314752992
NORTHLAND RESOUR NPKD B3 -347363008 314752992
NORTHLAND RESOUR NAU BY -347363008 314752992
NORTHLAND RESOUR NAUR IX -347363008 314752992
NORTHLAND RESOUR NAUNOK EO -347363008 314752992
NORTHLAND RESOUR NAUUSD EU -347363008 314752992
NORTHLAND RESOUR NAURO S2 -347363008 314752992
NORTHLAND RESOUR NAUR NO -347363008 314752992
NORTHLAND RESOUR NAUEUR EU -347363008 314752992
NORTHLAND RESOUR NAU CN -347363008 314752992
NORTHLAND RESOUR NPKD S2 -347363008 314752992
NORTHLAND RESOUR NAURO L3 -347363008 314752992
NORTHLAND RESOUR NAU EO -347363008 314752992
NORTHLAND RESOUR NPKD L3 -347363008 314752992
NORTHLAND RESOUR NAUR1 TH -347363008 314752992
NORTHLAND RESOUR NPK TH -347363008 314752992
NORTHLAND RESOUR NAUR PZ -347363008 314752992
NORTHLAND RESOUR NAU EU -347363008 314752992
NORTHLAND RESOUR NAUGBX EO -347363008 314752992
NORTHLAND RESOUR NAUGBX EU -347363008 314752992
NORTHLAND RESOUR NAUR SS -347363008 314752992
NORTHLAND RESOUR NAUEUR EO -347363008 314752992
NORTHLAND RESOUR NPK GR -347363008 314752992
NORTHLAND RESOUR NAUR TQ -347363008 314752992
NORTHLAND RESOUR NAUUSD EO -347363008 314752992
NORTHLAND RESOUR NRSRF US -347363008 314752992
NORTHLAND RESOUR NAUNOK EU -347363008 314752992
NORTHLAND RESOUR NBS GR -347363008 314752992
NORTHLAND-NEW NAURR NO -347363008 314752992
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 -24369568.25 184435792.3
NTT COM SECURITY AAGND S1 -24369568.25 184435792.3
NTT COM SECURITY AAGND L3 -24369568.25 184435792.3
NTT COM SECURITY AAGND B3 -24369568.25 184435792.3
NTT COM SECURITY AAGND S2 -24369568.25 184435792.3
NTT COM SECURITY AAGN EO -24369568.25 184435792.3
NTT COM SECURITY AAGN TQ -24369568.25 184435792.3
NTT COM SECURITY AAGN QT -24369568.25 184435792.3
NTT COM SECURITY AAGN GR -24369568.25 184435792.3
NTT COM SECURITY AAGN EU -24369568.25 184435792.3
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 NYE SM -214694075 627801852.2
NYESA VALORES CO 7NY GR -214694075 627801852.2
NYESA VALORES CO NYE TQ -214694075 627801852.2
NYESA VALORES CO NYE EO -214694075 627801852.2
NYESA VALORES CO BES EU -214694075 627801852.2
NYESA VALORES CO BES TQ -214694075 627801852.2
NYESA VALORES CO BES EO -214694075 627801852.2
NYESA VALORES CO NYE EU -214694075 627801852.2
NYESA VALORES CO BESS PZ -214694075 627801852.2
NYESA VALORES CO BES SM -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 -16499325.39 141822337.2
OBTEC OBT DC -16499325.39 141822337.2
OBTEC-NEW SHARES OBTECN DC -16499325.39 141822337.2
OBTEC-OLD OBTN DC -16499325.39 141822337.2
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 OLTEUR EU -750833972.5 397742354.3
OLTCHIM SA RM VA OLTF L3 -750833972.5 397742354.3
OLTCHIM SA RM VA OLT EO -750833972.5 397742354.3
OLTCHIM SA RM VA OLT EU -750833972.5 397742354.3
OLTCHIM SA RM VA OLTF B3 -750833972.5 397742354.3
OLTCHIM SA RM VA OLT PZ -750833972.5 397742354.3
OLTCHIM SA RM VA OLTEUR EO -750833972.5 397742354.3
OLTCHIM SA RM VA OLT RO -750833972.5 397742354.3
OLTCHIM SA RM VA OLTF S2 -750833972.5 397742354.3
OMRON EUROPE BV/ 4489339Z NA -360581.2603 627156346.6
ONNECT GROUP-RTS CNCNGBX EO -89160237.06 478588064.2
ONNECT GROUP-RTS CNCN LN -89160237.06 478588064.2
ONNECT GROUP-RTS CNCNGBX EU -89160237.06 478588064.2
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 1460Q GR -593935104.1 2902299502
ORANGE PLC ORNGF US -593935104.1 2902299502
ORANGE PLC-ADR ORA$ LN -593935104.1 2902299502
ORANGE PLC-ADR 0212530D GR -593935104.1 2902299502
ORANGE PLC-ADR ORNGY US -593935104.1 2902299502
ORBIS PLC OBS PZ -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
ORBIS PLC RLP GR -4168493.8 127701679.5
ORBIS PLC ORBSF US -4168493.8 127701679.5
ORION ENGINEERED OEC US -102384707.7 1388504079
ORION ENGINEERED 0OE QT -102384707.7 1388504079
ORION ENGINEERED 1005933D US -102384707.7 1388504079
ORION ENGINEERED 0OE GR -102384707.7 1388504079
OROSDI OROS EU -51388258.12 181261665.1
OROSDI OROSP L3 -51388258.12 181261665.1
OROSDI OROSP B3 -51388258.12 181261665.1
OROSDI OROS S1 -51388258.12 181261665.1
OROSDI OROS EO -51388258.12 181261665.1
OROSDI OROS IX -51388258.12 181261665.1
OROSDI OROS FP -51388258.12 181261665.1
OROSDI OROS PZ -51388258.12 181261665.1
OROSDI OROS EB -51388258.12 181261665.1
OROSDI OROSP S2 -51388258.12 181261665.1
OROSDI-BACK BACK IX -51388258.12 181261665.1
OROSDI-BACK ORBA FP -51388258.12 181261665.1
OROSDI-RTS ORODS FP -51388258.12 181261665.1
OUTDOOR GROUP LT 1318338Z LN -31904183.63 118196315.8
OXEA SARL 3682535Z GR -24721940.15 956415604.2
OXEA SARL 3682535Z LX -24721940.15 956415604.2
P.G. NIKAS SA NIKASY B3 -25339406.16 106379335.5
P.G. NIKAS SA NIKASY L3 -25339406.16 106379335.5
P.G. NIKAS SA NIKASY S2 -25339406.16 106379335.5
PAGESJAUNES GRP PGJUF US -1736520389 862279100.1
PAGESJAUNES GRP PAJP IX -1736520389 862279100.1
PAGESJAUNES GRP PAJ FP -1736520389 862279100.1
PAGESJAUNES GRP PAJ NQ -1736520389 862279100.1
PAGESJAUNES GRP PAJ VX -1736520389 862279100.1
PAGESJAUNES GRP PAJ PZ -1736520389 862279100.1
PAGESJAUNES GRP PAJ LI -1736520389 862279100.1
PANAXIA AB PAXA EO -13977243.64 102375892.6
PANAXIA AB PAXA SS -13977243.64 102375892.6
PANAXIA AB PAXA PZ -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 PAXAEUR EO -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 -6897593.498 163854126.7
PARK GROUP PLC PKG LN -6897593.498 163854126.7
PARK GROUP PLC PKG EU -6897593.498 163854126.7
PARK GROUP PLC PKGL S2 -6897593.498 163854126.7
PARK GROUP PLC PKG PZ -6897593.498 163854126.7
PARK GROUP PLC PRKGF US -6897593.498 163854126.7
PARK GROUP PLC PKGL L3 -6897593.498 163854126.7
PARK GROUP PLC PKGGBP EO -6897593.498 163854126.7
PARK GROUP PLC PKG PO -6897593.498 163854126.7
PARK GROUP PLC PKG EO -6897593.498 163854126.7
PARK GROUP PLC PKGL B3 -6897593.498 163854126.7
PARK GROUP PLC PKG VX -6897593.498 163854126.7
PARK GROUP PLC PRKG IX -6897593.498 163854126.7
PARMALAT FINA-RT PRFR AV -18420075679 4120839723
PARMALAT FINANZI PRF IM -18420075679 4120839723
PARMALAT FINANZI PMLFF US -18420075679 4120839723
PARMALAT FINANZI PRFI VX -18420075679 4120839723
PARMALAT FINANZI PAF GR -18420075679 4120839723
PARMALAT FINANZI 1085755D IM -18420075679 4120839723
PARMALAT FINANZI PARAF US -18420075679 4120839723
PARMALAT FINANZI PMT LI -18420075679 4120839723
PARMALAT FINANZI FICN AV -18420075679 4120839723
PARQUES REUN-RTS PQR/D SM -36793493.63 2314365176
PARQUES REUNIDOS PQR SM -36793493.63 2314365176
PARQUES REUNIDOS PQR GR -36793493.63 2314365176
PATIENTLINE PLC 2928899Q EO -54678675.23 124951423.6
PATIENTLINE PLC PTL LN -54678675.23 124951423.6
PATIENTLINE PLC 2928903Q EU -54678675.23 124951423.6
PATIENTLINE PLC PTL IX -54678675.23 124951423.6
PATIENTLINE PLC PTL VX -54678675.23 124951423.6
PATIENTLINE PLC 2928907Q EO -54678675.23 124951423.6
PATIENTLINE PLC PTL PO -54678675.23 124951423.6
PATIENTLINE PLC PTL PZ -54678675.23 124951423.6
PAYZONE PLC PAYZ IX -138034037.7 510021617
PAYZONE PLC PAYZ EO -138034037.7 510021617
PAYZONE PLC PAYZ LN -138034037.7 510021617
PAYZONE PLC PAYZ PZ -138034037.7 510021617
PAYZONE PLC 4P6 GR -138034037.7 510021617
PAYZONE PLC PAYZ EU -138034037.7 510021617
PAYZONE PLC PAYZ PG -138034037.7 510021617
PBG PBG PZ -222424851.5 757002421.4
PBG PBG1EUR EO -222424851.5 757002421.4
PBG PBGW S2 -222424851.5 757002421.4
PBG PBG1 EO -222424851.5 757002421.4
PBG PBG PW -222424851.5 757002421.4
PBG PBG1 EU -222424851.5 757002421.4
PBG PBG1EUR EU -222424851.5 757002421.4
PBG PBGZF US -222424851.5 757002421.4
PBG PBG1USD EU -222424851.5 757002421.4
PBG PBG LI -222424851.5 757002421.4
PBG PBG1USD EO -222424851.5 757002421.4
PBG PBGW L3 -222424851.5 757002421.4
PBG PBGW B3 -222424851.5 757002421.4
PBG S.A. 887076Q PW -222424851.5 757002421.4
PBG SA PBGG IX -222424851.5 757002421.4
PBG SA - ADR PBGZY US -222424851.5 757002421.4
PBG SA - CERT A 899644Z PW -222424851.5 757002421.4
PBG SA -CERT A PBGA PW -222424851.5 757002421.4
PBG SA-A 0122073D PW -222424851.5 757002421.4
PBG SA-ALLOT CE 903059Q PW -222424851.5 757002421.4
PBG SA-ALLOT CER 685728Q PW -222424851.5 757002421.4
PBG SA-RTS PBGP PW -222424851.5 757002421.4
PD PORT SERVICES 1407442Z LN -97346785.71 148595363.3
PD PORTCO LTD 3233785Z LN -286512126 1076498649
PEGASUS PUB-RTS PEGASR GA -96261210.15 161280308
PEGASUS PUBLISHI PEGA1 EO -96261210.15 161280308
PEGASUS PUBLISHI PEGAS PZ -96261210.15 161280308
PEGASUS PUBLISHI PEGASY L3 -96261210.15 161280308
PEGASUS PUBLISHI PEGASY S2 -96261210.15 161280308
PEGASUS PUBLISHI PEGA1 EU -96261210.15 161280308
PEGASUS PUBLISHI PEGAS GA -96261210.15 161280308
PEGASUS PUBLISHI PEGASY B3 -96261210.15 161280308
PEGASUS PUBLISHI PGPBF US -96261210.15 161280308
PEGASUS PUBLISHI JE5 GR -96261210.15 161280308
PEGUFORM IBERICA 4512107Z SM -25951900.55 189870518.2
PENOPLEX-FINANS PNPF RU -776342.4125 143683074
PESCANOVA PVA QM -1962474395 3604665666
PESCANOVA PVA EU -1962474395 3604665666
PESCANOVA PVA IX -1962474395 3604665666
PESCANOVA PVA EB -1962474395 3604665666
PESCANOVA PVA TQ -1962474395 3604665666
PESCANOVA PVA SM -1962474395 3604665666
PESCANOVA PVA EO -1962474395 3604665666
PESCANOVA PNV GR -1962474395 3604665666
PESCANOVA PVA NR -1962474395 3604665666
PESCANOVA PNVAF US -1962474395 3604665666
PESCANOVA PVA S1 -1962474395 3604665666
PESCANOVA PVA PZ -1962474395 3604665666
PESCANOVA SA PVAE L3 -1962474395 3604665666
PESCANOVA SA PVAE B3 -1962474395 3604665666
PESCANOVA SA PCV/P SM -1962474395 3604665666
PESCANOVA SA 0572074D SM -1962474395 3604665666
PESCANOVA SA PVAE S2 -1962474395 3604665666
PESCANOVA SA-RTS 0561516D SM -1962474395 3604665666
PESCANOVA SA-RTS 3414736Q SM -1962474395 3604665666
PESCANOVA SA-RTS PVA/D SM -1962474395 3604665666
PESCANOVA-OLD RT 1004Q SM -1962474395 3604665666
PETRO GEO-SERV PGS GR -18066142.02 399710319.4
PETRO GEO-SERV 265143Q NO -18066142.02 399710319.4
PETRO GEO-SERV PGS VX -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 PZ -54932000 191586000
PETROJACK AS JACO IX -54932000 191586000
PETROJACK AS JACK EU -54932000 191586000
PETROJACK AS JACKEUR EO -54932000 191586000
PETROJACK AS P3J GR -54932000 191586000
PETROJACK AS JACK BY -54932000 191586000
PETROJACK AS JACK EO -54932000 191586000
PETROJACK AS POJKF US -54932000 191586000
PETROJACK AS JACKEUR EU -54932000 191586000
PETROJACK AS JACK NO -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 3637183Z FP -387705605.4 308658679.1
PEUGEOT CITROEN 1974702Z LN -79437283.13 750487827.5
PG NIKAS SA NIKAS EO -25339406.16 106379335.5
PG NIKAS SA NKS GR -25339406.16 106379335.5
PG NIKAS SA NIKAS PZ -25339406.16 106379335.5
PG NIKAS SA NIKAS EU -25339406.16 106379335.5
PG NIKAS SA NIKAS GA -25339406.16 106379335.5
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
PORTO F.C.-B FCPB PL -24743714.18 315165766.4
POST OFFICE LTD 1542650Z LN -196775599.5 1694809196
POSTNL NV PNL2 EU -935808896.2 2884463588
POSTNL NV PNL2NOK EU -935808896.2 2884463588
POSTNL NV PNL2NOK EO -935808896.2 2884463588
POSTNL NV PNL2USD EO -935808896.2 2884463588
POSTNL NV TNTC QT -935808896.2 2884463588
POSTNL NV PNLA B3 -935808896.2 2884463588
POSTNL NV TNTC GR -935808896.2 2884463588
POSTNL NV PNL2GBX EU -935808896.2 2884463588
POSTNL NV PNL BQ -935808896.2 2884463588
POSTNL NV PNL MT -935808896.2 2884463588
POSTNL NV PNL TQ -935808896.2 2884463588
POSTNL NV PNLA S2 -935808896.2 2884463588
POSTNL NV TNTFF US -935808896.2 2884463588
POSTNL NV PNL1 IX -935808896.2 2884463588
POSTNL NV PNL2CHF EO -935808896.2 2884463588
POSTNL NV PNL2AUD EO -935808896.2 2884463588
POSTNL NV PNLA L3 -935808896.2 2884463588
POSTNL NV PNL EB -935808896.2 2884463588
POSTNL NV PNL2PLN EU -935808896.2 2884463588
POSTNL NV TNT PZ -935808896.2 2884463588
POSTNL NV PNL QX -935808896.2 2884463588
POSTNL NV PNL NA -935808896.2 2884463588
POSTNL NV PNL1 S1 -935808896.2 2884463588
POSTNL NV TNT LI -935808896.2 2884463588
POSTNL NV PNL2USD EU -935808896.2 2884463588
POSTNL NV PNL2GBP EO -935808896.2 2884463588
POSTNL NV PNL2CHF EU -935808896.2 2884463588
POSTNL NV PNL2GBX EO -935808896.2 2884463588
POSTNL NV PNL GK -935808896.2 2884463588
POSTNL NV PNL2AUD EU -935808896.2 2884463588
POSTNL NV PNL2PLN EO -935808896.2 2884463588
POSTNL NV TNTC TH -935808896.2 2884463588
POSTNL NV PNL2 EO -935808896.2 2884463588
POSTNL NV PNL SW -935808896.2 2884463588
POSTNL NV PNL QM -935808896.2 2884463588
POSTNL NV-ADR TNTTY US -935808896.2 2884463588
POSTNL NV-ADR PNLYY US -935808896.2 2884463588
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 PRA2 EO -87225984.26 314937083.3
PRAMAC SPA PRAM PZ -87225984.26 314937083.3
PRAMAC SPA 6PA GR -87225984.26 314937083.3
PRAMAC SPA PRAM IX -87225984.26 314937083.3
PRAMAC SPA PRA IM -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
PRISA 0557149D LN -780193119.9 6162139632
PRISA PRS2 VX -780193119.9 6162139632
PRISA PRS NR -780193119.9 6162139632
PRISA - A PRSE S2 -780193119.9 6162139632
PRISA - A PRS EO -780193119.9 6162139632
PRISA - A PRSGBX EU -780193119.9 6162139632
PRISA - A PRSE S1 -780193119.9 6162139632
PRISA - A PRSUSD EU -780193119.9 6162139632
PRISA - A PRSE L3 -780193119.9 6162139632
PRISA - A GPOPF US -780193119.9 6162139632
PRISA - A PRSS PZ -780193119.9 6162139632
PRISA - A PRS2 IX -780193119.9 6162139632
PRISA - A PRS1 S1 -780193119.9 6162139632
PRISA - A PRS EU -780193119.9 6162139632
PRISA - A PRSE B3 -780193119.9 6162139632
PRISA - A PZ4 GR -780193119.9 6162139632
PRISA - A PRSGBX EO -780193119.9 6162139632
PRISA - A PRS1 EB -780193119.9 6162139632
PRISA - A PRS SM -780193119.9 6162139632
PRISA - A PRSGBP EO -780193119.9 6162139632
PRISA - A PRSUSD EO -780193119.9 6162139632
PRISA - A PRS TQ -780193119.9 6162139632
PRISA - B PRS/P TQ -780193119.9 6162139632
PRISA - B PRSP IX -780193119.9 6162139632
PRISA - B PRSP EB -780193119.9 6162139632
PRISA - B PRS/P EO -780193119.9 6162139632
PRISA - B PRS/P SM -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/E SM -780193119.9 6162139632
PRISA B-RTS PRS/EEUR EU -780193119.9 6162139632
PRISA B-RTS PRS/EEUR EO -780193119.9 6162139632
PRISA-A RTS PRS/DEUR EO -780193119.9 6162139632
PRISA-A RTS PRS/D SM -780193119.9 6162139632
PRISA-A RTS PRSD TQ -780193119.9 6162139632
PRISA-A RTS PRS/DEUR EU -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/B-W US -780193119.9 6162139632
PROMOTORA DE-ADR PRIS-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 PSK IX -9666420.197 134082602.7
PROSTRAKAN GROUP PSK EO -9666420.197 134082602.7
PROSTRAKAN GROUP PSKEUR EU -9666420.197 134082602.7
PROSTRAKAN GROUP PKNGF US -9666420.197 134082602.7
PROSTRAKAN GROUP PSKEUR EO -9666420.197 134082602.7
PROSTRAKAN GROUP PSK PZ -9666420.197 134082602.7
PROSTRAKAN GROUP PSK PO -9666420.197 134082602.7
PROSTRAKAN GROUP PSKGBP EO -9666420.197 134082602.7
PROSTRAKAN GROUP PSK LN -9666420.197 134082602.7
PROSTRAKAN GROUP PSK EU -9666420.197 134082602.7
PROSTRAKAN GROUP PSK S1 -9666420.197 134082602.7
PROSTRAKAN GROUP PSK VX -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 QP/ LN -6377862.543 123809536.5
QUANTUM PHARMACE 0QT GR -6377862.543 123809536.5
QUANTUM PHARMACE QP/EUR EO -6377862.543 123809536.5
QUANTUM PHARMACE QP/GBX EU -6377862.543 123809536.5
QUANTUM PHARMACE QP/GBX EO -6377862.543 123809536.5
QUANTUM PHARMACE QP/EUR EU -6377862.543 123809536.5
QUANTUM PHARMACE 0265252D LN -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 KORA GA -100972173.9 244951680.3
RADIO KORASSIDIS RKC GR -100972173.9 244951680.3
RADIO KORASSIDIS RAKOF US -100972173.9 244951680.3
RAG ABWICKL-REG ROSG PZ -1744186.284 217783877.8
RAG ABWICKL-REG ROS1 EU -1744186.284 217783877.8
RAG ABWICKL-REG RSTHF US -1744186.284 217783877.8
RAG ABWICKL-REG ROS S1 -1744186.284 217783877.8
RAG ABWICKL-REG ROS1 EO -1744186.284 217783877.8
RAG ABWICKL-REG ROS GR -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 RDB EO -143727976.4 142633893.2
RDB SPA AZN GR -143727976.4 142633893.2
RDB SPA RDB IM -143727976.4 142633893.2
RDB SPA RDB TQ -143727976.4 142633893.2
RDB SPA RDB EU -143727976.4 142633893.2
RDB SPA RDB PZ -143727976.4 142633893.2
RDB SPA RDBI IX -143727976.4 142633893.2
RDB SPA RDB BQ -143727976.4 142633893.2
REAL ESTATE OP-O REA GR -1109587250 1668412128
REAL ESTATE OP-O REO IX -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 LN -1109587250 1668412128
REAL ESTATE OP-O REO EU -1109587250 1668412128
REAL ESTATE OP-O REOGBP EO -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 RGU GR -46111832.15 367181111
REGUS PLC 273195Q VX -46111832.15 367181111
REGUS PLC REGSF US -46111832.15 367181111
REGUS PLC 2296Z LN -46111832.15 367181111
REGUS PLC-ADS REGSV US -46111832.15 367181111
REGUS PLC-ADS REGSY US -46111832.15 367181111
REGUS PLC-ADS RGUA GR -46111832.15 367181111
REGUS PLC-ADS REGS US -46111832.15 367181111
RENONORDEN ASA 35366NOK EO -52257000.84 345381158.9
RENONORDEN ASA RENO NO -52257000.84 345381158.9
RENONORDEN ASA 3536606Z NO -52257000.84 345381158.9
RENONORDEN ASA RENOO SS -52257000.84 345381158.9
RENONORDEN ASA 35366NOK EU -52257000.84 345381158.9
RENTA CORP RTACF US -45668469.6 171969667.7
RENTA CORP REN1GBX EO -45668469.6 171969667.7
RENTA CORP REN1USD EO -45668469.6 171969667.7
RENTA CORP REN1 S1 -45668469.6 171969667.7
RENTA CORP REN1GBX EU -45668469.6 171969667.7
RENTA CORP REN1 EU -45668469.6 171969667.7
RENTA CORP REN1GBP EO -45668469.6 171969667.7
RENTA CORP REN1USD EU -45668469.6 171969667.7
RENTA CORP REN SM -45668469.6 171969667.7
RENTA CORP REN1 EO -45668469.6 171969667.7
RENTA CORP RENS PZ -45668469.6 171969667.7
RENTA CORP REN1 TQ -45668469.6 171969667.7
RENTA CORP REAL RENE L3 -45668469.6 171969667.7
RENTA CORP REAL REN/D SM -45668469.6 171969667.7
RENTA CORP REAL RENE S2 -45668469.6 171969667.7
RENTA CORP REAL RENE B3 -45668469.6 171969667.7
RENTOKIL INITIAL RTO1 GR -78669197.8 2792927597
RENTOKIL INITIAL RTOL S2 -78669197.8 2792927597
RENTOKIL INITIAL RTO VX -78669197.8 2792927597
RENTOKIL INITIAL RTO QX -78669197.8 2792927597
RENTOKIL INITIAL RTO PZ -78669197.8 2792927597
RENTOKIL INITIAL RTOKF US -78669197.8 2792927597
RENTOKIL INITIAL RKLIF US -78669197.8 2792927597
RENTOKIL INITIAL RTO NR -78669197.8 2792927597
RENTOKIL INITIAL RTO EU -78669197.8 2792927597
RENTOKIL INITIAL RTO S1 -78669197.8 2792927597
RENTOKIL INITIAL RTO1 GK -78669197.8 2792927597
RENTOKIL INITIAL RTOUSD EO -78669197.8 2792927597
RENTOKIL INITIAL RTOEUR EO -78669197.8 2792927597
RENTOKIL INITIAL RTO TQ -78669197.8 2792927597
RENTOKIL INITIAL RTO QM -78669197.8 2792927597
RENTOKIL INITIAL RTOGBP EO -78669197.8 2792927597
RENTOKIL INITIAL RTOL L3 -78669197.8 2792927597
RENTOKIL INITIAL RTOUSD EU -78669197.8 2792927597
RENTOKIL INITIAL RTO LN -78669197.8 2792927597
RENTOKIL INITIAL RTO PO -78669197.8 2792927597
RENTOKIL INITIAL RTOG IX -78669197.8 2792927597
RENTOKIL INITIAL RTO GR -78669197.8 2792927597
RENTOKIL INITIAL RTOPEN EO -78669197.8 2792927597
RENTOKIL INITIAL RTO EB -78669197.8 2792927597
RENTOKIL INITIAL RTO NQ -78669197.8 2792927597
RENTOKIL INITIAL RTO1 EO -78669197.8 2792927597
RENTOKIL INITIAL RTO BQ -78669197.8 2792927597
RENTOKIL INITIAL RTO EO -78669197.8 2792927597
RENTOKIL INITIAL RTOPEN EU -78669197.8 2792927597
RENTOKIL INITIAL RTOEUR EU -78669197.8 2792927597
RENTOKIL INITIAL RTO IX -78669197.8 2792927597
RENTOKIL INITIAL RTOL B3 -78669197.8 2792927597
RENTOKIL-SP ADR RTOKY US -78669197.8 2792927597
RENTOKIL-SP ADR AP76 LI -78669197.8 2792927597
REPSOL POLIMEROS 3637351Z PL -295866414.2 385214857.4
RESEAU FERRE FRA 224063Z FP -1502193646 75168386409
RETAIL GROUP RTGR UZ -23003278.31 253608504.1
REXAM BEVERAGE C 1120903Z LN -22213349.38 126325689.5
REYAL URBIS SA REY SM -3632696555 1948850371
REYAL URBIS SA REY1 EO -3632696555 1948850371
REYAL URBIS SA REY EB -3632696555 1948850371
REYAL URBIS SA REY1 TQ -3632696555 1948850371
REYAL URBIS SA REY1 IX -3632696555 1948850371
REYAL URBIS SA REY S1 -3632696555 1948850371
REYAL URBIS SA REYU PZ -3632696555 1948850371
REYAL URBIS SA REY1 EU -3632696555 1948850371
RHODIA SA RHAUSD EU -72549998.76 7951479864
RHODIA SA RHDI GR -72549998.76 7951479864
RHODIA SA RHAGBP EO -72549998.76 7951479864
RHODIA SA RHA VX -72549998.76 7951479864
RHODIA SA RHA IX -72549998.76 7951479864
RHODIA SA RHA TQ -72549998.76 7951479864
RHODIA SA RHD GR -72549998.76 7951479864
RHODIA SA RHA EO -72549998.76 7951479864
RHODIA SA RHAGBX EU -72549998.76 7951479864
RHODIA SA RHA EB -72549998.76 7951479864
RHODIA SA RHDAF US -72549998.76 7951479864
RHODIA SA RHAGBX EO -72549998.76 7951479864
RHODIA SA RHA S1 -72549998.76 7951479864
RHODIA SA 3218857Q IX -72549998.76 7951479864
RHODIA SA RHADF US -72549998.76 7951479864
RHODIA SA RHANR PZ -72549998.76 7951479864
RHODIA SA 2324015Q EO -72549998.76 7951479864
RHODIA SA RHA EU -72549998.76 7951479864
RHODIA SA RHA QM -72549998.76 7951479864
RHODIA SA RHA FP -72549998.76 7951479864
RHODIA SA RHAY IX -72549998.76 7951479864
RHODIA SA RHA PZ -72549998.76 7951479864
RHODIA SA RHAUSD EO -72549998.76 7951479864
RHODIA SA RHA BQ -72549998.76 7951479864
RHODIA SA RHA NQ -72549998.76 7951479864
RHODIA SA RHDI TH -72549998.76 7951479864
RHODIA SA RHA GK -72549998.76 7951479864
RHODIA SA 2324011Q EU -72549998.76 7951479864
RHODIA SA - NEW 2335921Q FP -72549998.76 7951479864
RHODIA SA - NEW 3506266Q FP -72549998.76 7951479864
RHODIA SA - NEW 3156011Q FP -72549998.76 7951479864
RHODIA SA - NEW 8125782Q 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 RHADS FP -72549998.76 7951479864
RHODIA SA-RIGHTS 653447Q FP -72549998.76 7951479864
RIOFISA RFS PZ -249543667.9 269548749.9
RIOFISA RFSMF US -249543667.9 269548749.9
RIOFISA 2306760Q EU -249543667.9 269548749.9
RIOFISA 2306764Q EO -249543667.9 269548749.9
RIOFISA 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 L3 -1664703.949 111569389.6
ROCAMAT ROCA TQ -1664703.949 111569389.6
ROCAMAT ROCA IX -1664703.949 111569389.6
ROCAMAT ROCAP S2 -1664703.949 111569389.6
ROCAMAT ROCA EO -1664703.949 111569389.6
ROCAMAT ROCA PZ -1664703.949 111569389.6
ROCAMAT ROCA FP -1664703.949 111569389.6
ROCAMAT ROCA S1 -1664703.949 111569389.6
ROCAMAT ROCAP B3 -1664703.949 111569389.6
ROCAMAT R4C GR -1664703.949 111569389.6
ROCAMAT ROCA EB -1664703.949 111569389.6
ROCAMAT ROCA EU -1664703.949 111569389.6
ROCAMAT - RTS ROCDS FP -1664703.949 111569389.6
ROCAMAT-NEW ROCN FP -1664703.949 111569389.6
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
ROYAL IMTEC/PREF 0859376D NA -23409899.28 4246090270
ROYAL IMTECH N-D 1083603D NA -23409899.28 4246090270
ROYAL IMTECH NV IR3A GR -23409899.28 4246090270
ROYAL IMTECH NV IMCOA TQ -23409899.28 4246090270
ROYAL IMTECH NV IMUSD EU -23409899.28 4246090270
ROYAL IMTECH NV IMA L3 -23409899.28 4246090270
ROYAL IMTECH NV IMM SW -23409899.28 4246090270
ROYAL IMTECH NV IM EO -23409899.28 4246090270
ROYAL IMTECH NV IM MT -23409899.28 4246090270
ROYAL IMTECH NV IMTEF US -23409899.28 4246090270
ROYAL IMTECH NV IR3A QT -23409899.28 4246090270
ROYAL IMTECH NV IMGBX EU -23409899.28 4246090270
ROYAL IMTECH NV IR3B QT -23409899.28 4246090270
ROYAL IMTECH NV IMCHF EU -23409899.28 4246090270
ROYAL IMTECH NV IM QX -23409899.28 4246090270
ROYAL IMTECH NV IMUSD EO -23409899.28 4246090270
ROYAL IMTECH NV IM LI -23409899.28 4246090270
ROYAL IMTECH NV IMA B3 -23409899.28 4246090270
ROYAL IMTECH NV IMCHF EO -23409899.28 4246090270
ROYAL IMTECH NV IMUN IX -23409899.28 4246090270
ROYAL IMTECH NV IM NA -23409899.28 4246090270
ROYAL IMTECH NV IR3A TH -23409899.28 4246090270
ROYAL IMTECH NV IMA1 TQ -23409899.28 4246090270
ROYAL IMTECH NV IMA QX -23409899.28 4246090270
ROYAL IMTECH NV IM EB -23409899.28 4246090270
ROYAL IMTECH NV IM GK -23409899.28 4246090270
ROYAL IMTECH NV IR3B GR -23409899.28 4246090270
ROYAL IMTECH NV IMA S2 -23409899.28 4246090270
ROYAL IMTECH NV IMGBP EO -23409899.28 4246090270
ROYAL IMTECH NV IM EU -23409899.28 4246090270
ROYAL IMTECH NV IM S1 -23409899.28 4246090270
ROYAL IMTECH NV IMCO NA -23409899.28 4246090270
ROYAL IMTECH NV IM QM -23409899.28 4246090270
ROYAL IMTECH NV IMA BQ -23409899.28 4246090270
ROYAL IMTECH NV IMGBX EO -23409899.28 4246090270
ROYAL IMTECH NV IM TQ -23409899.28 4246090270
ROYAL IMTECH NV IM2 SW -23409899.28 4246090270
ROYAL IMTECH RTS INGBF US -23409899.28 4246090270
ROYAL IMTECH RTS IR31 GR -23409899.28 4246090270
ROYAL IMTECH RTS IMR NA -23409899.28 4246090270
ROYAL IMTECH-ADR RYIMY US -23409899.28 4246090270
ROYAL IMTECH-RTS IMRIA TQ -23409899.28 4246090270
ROYAL IMTECH-RTS IMRIA S1 -23409899.28 4246090270
ROYAL IMTECH-RTS IMRIEUR EU -23409899.28 4246090270
ROYAL IMTECH-RTS IR3C GR -23409899.28 4246090270
ROYAL IMTECH-RTS IMRIEUR EO -23409899.28 4246090270
ROYAL IMTECH-RTS IMRI NA -23409899.28 4246090270
RUSSIAN TEXT-CLS ALRTG RU -15214267.61 144581794
RUSSIAN TEXT-CLS ALRT* RU -15214267.61 144581794
S&T SYSTEM I-ADR STSQY US -38840367.34 182827447.9
S&T SYSTEM INTEG 0960262D GR -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 SNTS IX -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 SNT EO -38840367.34 182827447.9
S&T SYSTEM INTEG SLSYF US -38840367.34 182827447.9
S&T SYSTEM INTEG SNT AV -38840367.34 182827447.9
S&T SYSTEM INTEG SNTA PZ -38840367.34 182827447.9
S&T SYSTEM INTEG SNT EU -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
SCANDINAVIAN BRA SBS1 EO -16499325.39 141822337.2
SCANDINAVIAN BRA SBSC EB -16499325.39 141822337.2
SCANDINAVIAN BRA SBSD PZ -16499325.39 141822337.2
SCANDINAVIAN BRA SBSC IX -16499325.39 141822337.2
SCANDINAVIAN BRA SBSC L3 -16499325.39 141822337.2
SCANDINAVIAN BRA SBSC B3 -16499325.39 141822337.2
SCANDINAVIAN BRA SBSC S2 -16499325.39 141822337.2
SCANDINAVIAN BRA SBS1 BY -16499325.39 141822337.2
SCANDINAVIAN BRA SBS1EUR EO -16499325.39 141822337.2
SCANDINAVIAN BRA SBS1 TQ -16499325.39 141822337.2
SCANDINAVIAN BRA SBS1EUR EU -16499325.39 141822337.2
SCANDINAVIAN BRA SBS DC -16499325.39 141822337.2
SCANDINAVIAN BRA SBS1 EU -16499325.39 141822337.2
SCHWEIZ NATB-REG SNBN EU -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBN SW -4267161939 5.52E+11
SCHWEIZ NATB-REG SWZNF US -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBN IX -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBN TQ -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBN EO -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBN EB -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBNEUR EU -4267161939 5.52E+11
SCHWEIZ NATB-REG SNBNEUR EO -4267161939 5.52E+11
SCHWEIZERISCH NA SNBNZ B3 -4267161939 5.52E+11
SCHWEIZERISCH NA SNBNZ L3 -4267161939 5.52E+11
SCHWEIZERISCH NA SNBNZ S2 -4267161939 5.52E+11
SDR CENTREST 117241Q FP -132420129 252176016.3
SDR PICARDIE 44428Q FP -135351884.3 413398133.1
SEAFRANCE SA 1707464Z FP -1015369.615 247030885.4
SEAT PAGINE PGM BQ -1908908834 1054840446
SEAT PAGINE PGM TQ -1908908834 1054840446
SEAT PAGINE PG1USD EU -1908908834 1054840446
SEAT PAGINE PG1GBP EO -1908908834 1054840446
SEAT PAGINE PG1 NR -1908908834 1054840446
SEAT PAGINE PGM B3 -1908908834 1054840446
SEAT PAGINE PG1 EU -1908908834 1054840446
SEAT PAGINE 283147Q IM -1908908834 1054840446
SEAT PAGINE PGM L3 -1908908834 1054840446
SEAT PAGINE SP7 GR -1908908834 1054840446
SEAT PAGINE PG1GBX EO -1908908834 1054840446
SEAT PAGINE PG1 EB -1908908834 1054840446
SEAT PAGINE SP7B GR -1908908834 1054840446
SEAT PAGINE SP7A GR -1908908834 1054840446
SEAT PAGINE PG PZ -1908908834 1054840446
SEAT PAGINE PG IM -1908908834 1054840446
SEAT PAGINE PG S1 -1908908834 1054840446
SEAT PAGINE PG BQ -1908908834 1054840446
SEAT PAGINE PG1 NQ -1908908834 1054840446
SEAT PAGINE PGI1 IX -1908908834 1054840446
SEAT PAGINE PG1 TQ -1908908834 1054840446
SEAT PAGINE PG1 QM -1908908834 1054840446
SEAT PAGINE PG1USD EO -1908908834 1054840446
SEAT PAGINE PG VX -1908908834 1054840446
SEAT PAGINE PG1 EO -1908908834 1054840446
SEAT PAGINE PGM S1 -1908908834 1054840446
SEAT PAGINE PGM S2 -1908908834 1054840446
SEAT PAGINE SEEA LN -1908908834 1054840446
SEAT PAGINE SPGMF US -1908908834 1054840446
SEAT PAGINE-ADR SPGMY US -1908908834 1054840446
SEAT PAGINE-RSP PGR IX -1908908834 1054840446
SEAT PAGINE-RSP PGRM B3 -1908908834 1054840446
SEAT PAGINE-RSP 0746311D PZ -1908908834 1054840446
SEAT PAGINE-RSP PGR EU -1908908834 1054840446
SEAT PAGINE-RSP PGRM L3 -1908908834 1054840446
SEAT PAGINE-RSP PGR EO -1908908834 1054840446
SEAT PAGINE-RSP PGRM S2 -1908908834 1054840446
SEAT PAGINE-RSP PGR TQ -1908908834 1054840446
SEAT PAGINE-RSP SPGBF US -1908908834 1054840446
SEAT PAGINE-RSP PGRM TQ -1908908834 1054840446
SEAT PAGINE-RSP PGR IM -1908908834 1054840446
SEAT-PAGINE GIAL SPG IM -33024834.87 393700243.2
SEAT-PAGINE GIAL SPG FP -33024834.87 393700243.2
SEAT-PAGINE GIAL PGAP GR -33024834.87 393700243.2
SEAT-PAGINE GIAL SGLSF US -33024834.87 393700243.2
SEAT-PAGINE-RNC SPGR IM -33024834.87 393700243.2
SEATPG AXA PGAXA IM -1908908834 1054840446
SECURE INCOME RE SIRGBX EO -182956902.1 2427346370
SECURE INCOME RE SIRGBX EU -182956902.1 2427346370
SECURE INCOME RE SIRL B3 -182956902.1 2427346370
SECURE INCOME RE SIRL S2 -182956902.1 2427346370
SECURE INCOME RE SIRL L3 -182956902.1 2427346370
SECURE INCOME RE SIR LN -182956902.1 2427346370
SECURE INCOME RE 0991780D LN -182956902.1 2427346370
SEDA DE BARCEL SEDGBX EO -739717245.2 686984724.9
SEDA DE BARCEL SED EU -739717245.2 686984724.9
SEDA DE BARCEL SEDGBP EO -739717245.2 686984724.9
SEDA DE BARCEL SED EB -739717245.2 686984724.9
SEDA DE BARCEL SEDGBX EU -739717245.2 686984724.9
SEDA DE BARCEL SED EO -739717245.2 686984724.9
SEDA DE BARCEL SED S1 -739717245.2 686984724.9
SEDA DE BARCEL SED TQ -739717245.2 686984724.9
SEDA DE BARCEL SED IX -739717245.2 686984724.9
SEDA DE BARCEL SED SM -739717245.2 686984724.9
SEDA DE BARCEL SDY1 GR -739717245.2 686984724.9
SEDA DE BARCEL-A SDB SM -739717245.2 686984724.9
SEDA DE BARCEL-B SED NR -739717245.2 686984724.9
SEDA DE BARCEL-B 0882460D TQ -739717245.2 686984724.9
SEDA DE BARCEL-B SDY GR -739717245.2 686984724.9
SEDA DE BARCEL-B SEDS PZ -739717245.2 686984724.9
SEDA DE BARCEL-B LSDBF US -739717245.2 686984724.9
SEGECE SCS 4518143Z FP -14208162.69 209083011.9
SELONDA AQU-AUCT SELOE GA -69983841.88 262763683.4
SELONDA AQUACULT SELOY B3 -69983841.88 262763683.4
SELONDA AQUACULT SELO PZ -69983841.88 262763683.4
SELONDA AQUACULT SELOY L3 -69983841.88 262763683.4
SELONDA AQUACULT SELO EO -69983841.88 262763683.4
SELONDA AQUACULT SELO GA -69983841.88 262763683.4
SELONDA AQUACULT SELOY S2 -69983841.88 262763683.4
SELONDA AQUACULT SELO EU -69983841.88 262763683.4
SELONDA FISHERIE SELOR GA -69983841.88 262763683.4
SERVICE POI-RTS 3452211Q SM -92173952.82 105149402.3
SERVICE POINT SPS1 PZ -92173952.82 105149402.3
SERVICE POINT SPS S1 -92173952.82 105149402.3
SERVICE POINT GPPA GR -92173952.82 105149402.3
SERVICE POINT SPS TQ -92173952.82 105149402.3
SERVICE POINT SPS SM -92173952.82 105149402.3
SERVICE POINT SPS EO -92173952.82 105149402.3
SERVICE POINT SPS IX -92173952.82 105149402.3
SERVICE POINT SPS EU -92173952.82 105149402.3
SERVICE POINT SPS EB -92173952.82 105149402.3
SERVICE POINT SO GPCKF US -92173952.82 105149402.3
SERVICE POINT SO 8230641Q SM -92173952.82 105149402.3
SERVICE POINT SO SPSE L3 -92173952.82 105149402.3
SERVICE POINT SO SPSE S2 -92173952.82 105149402.3
SERVICE POINT SO SPSL VX -92173952.82 105149402.3
SERVICE POINT SO GPP GR -92173952.82 105149402.3
SERVICE POINT SO SPSE B3 -92173952.82 105149402.3
SERVICE POINT-N SPS/N SM -92173952.82 105149402.3
SERVICE POINT-RT SPS/D SM -92173952.82 105149402.3
SERVICE POINT-RT 2670737Q SM -92173952.82 105149402.3
SERVICE POINT-RT SVPUF US -92173952.82 105149402.3
SERVICE POINT-RT SPS/B SM -92173952.82 105149402.3
SERVICO DE SAUDE 3790200Z PL -226815997.5 542214475.7
SETON HEALTHCARE 2290Z LN -10585505.26 156827663.2
SETUZA AS SETUZA PZ -61453559.45 138581811.9
SETUZA AS SETU IX -61453559.45 138581811.9
SETUZA AS 2994763Q EU -61453559.45 138581811.9
SETUZA AS 2994767Q EO -61453559.45 138581811.9
SETUZA AS 2994755Q EU -61453559.45 138581811.9
SETUZA AS SETUZA CP -61453559.45 138581811.9
SETUZA AS SZA EX -61453559.45 138581811.9
SETUZA AS 2994759Q EO -61453559.45 138581811.9
SETUZA AS SZA GR -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 S.A. SFAY S2 -52639045.02 449281516.6
SFAKIANAKIS S.A. SFAY L3 -52639045.02 449281516.6
SFAKIANAKIS S.A. SFAY B3 -52639045.02 449281516.6
SFAKIANAKIS SA SFA GA -52639045.02 449281516.6
SFAKIANAKIS SA SFAG PZ -52639045.02 449281516.6
SFAKIANAKIS SA SFA EO -52639045.02 449281516.6
SFAKIANAKIS SA SFA EU -52639045.02 449281516.6
SFAKIANAKIS-AUC SFAE GA -52639045.02 449281516.6
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 EO -8106820.918 269503085.6
SHELMAN SELMK PZ -8106820.918 269503085.6
SHELMAN 3001167Q GR -8106820.918 269503085.6
SHELMAN SELMK GA -8106820.918 269503085.6
SHELMAN SWH GR -8106820.918 269503085.6
SHELMAN SELMK EU -8106820.918 269503085.6
SHELMAN -RTS 4466796Q GA -8106820.918 269503085.6
SHELMAN HELLENIC SELMKY S2 -8106820.918 269503085.6
SHELMAN HELLENIC SELMKY L3 -8106820.918 269503085.6
SHELMAN HELLENIC SELMKY B3 -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 SIDMA GA -8990116.507 184906288.5
SIDMA SA SIDMAY L3 -8990116.507 184906288.5
SIDMA SA SIDMA PZ -8990116.507 184906288.5
SIDMA SA SIDMAY B3 -8990116.507 184906288.5
SIDMA SA SIDMA EO -8990116.507 184906288.5
SIDMA SA SIDMAY S2 -8990116.507 184906288.5
SIDMA SA SIDMA EU -8990116.507 184906288.5
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 SIS DC -31099624.83 338785645.1
SIS INTL SK DC -31099624.83 338785645.1
SIS INTL-NEW SKN DC -31099624.83 338785645.1
SISAL GROUP SPA 0775998D IM -60481049.15 2191084389
SISTEMA HALS-GDR HALS IX -874213546.6 3351127450
SISTEMA-GDR 144A SEMAL US -874213546.6 3351127450
SITROL CONC-ADR STRLY US -119433664.7 940394639.1
SITROL CONC-ADR SVX EX -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 SKYA PZ -89483677.73 159082240
SKYEUROPE HLDG SKYPLN EU -89483677.73 159082240
SKYEUROPE HLDG 0619064D GR -89483677.73 159082240
SKYEUROPE HLDG SKY AV -89483677.73 159082240
SKYEUROPE HLDG SKY LI -89483677.73 159082240
SKYEUROPE HLDG SKY EO -89483677.73 159082240
SKYEUROPE HLDG SKY EU -89483677.73 159082240
SKYEUROPE HLDG SKYV IX -89483677.73 159082240
SKYEUROPE HLDG SKYPLN EO -89483677.73 159082240
SKYEUROPE HLDG SKURF US -89483677.73 159082240
SKYEUROPE HOL-RT SK1 AV -89483677.73 159082240
SLOVENSKE ENERGE SES SK -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES1T L3 -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES01A PZ -55548542.3 145855993.5
SLOVENSKE ENERGE SES02 SK -55548542.3 145855993.5
SLOVENSKE ENERGE SES02 EO -55548542.3 145855993.5
SLOVENSKE ENERGE SES02 EU -55548542.3 145855993.5
SLOVENSKE ENERGE SES EU -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES2T B3 -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES1T S2 -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES2T S2 -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES2T L3 -55548542.3 145855993.5
SLOVENSKE ENERGE 1SES1T B3 -55548542.3 145855993.5
SLOVENSKE ENERGE SES EO -55548542.3 145855993.5
SMITHS HEIMANN S 4513283Z FP -19134635.11 123528857.5
SMITHS NEWS PLC NWS7 EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS12 EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS6 EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS IX -89160237.06 478588064.2
SMITHS NEWS PLC NWS PZ -89160237.06 478588064.2
SMITHS NEWS PLC NWS1 EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS PO -89160237.06 478588064.2
SMITHS NEWS PLC NWS8 EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS2EUR EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS2GBP EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS1GBP EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS13 EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS5 EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS VX -89160237.06 478588064.2
SMITHS NEWS PLC NWS11 EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS2 EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS10 EO -89160237.06 478588064.2
SMITHS NEWS PLC SMWPF US -89160237.06 478588064.2
SMITHS NEWS PLC NWS LN -89160237.06 478588064.2
SMITHS NEWS PLC NWS9 EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS4 EO -89160237.06 478588064.2
SMITHS NEWS PLC NWS2EUR EU -89160237.06 478588064.2
SMITHS NEWS PLC NWS1 EU -89160237.06 478588064.2
SNCB HOLDING SNCVPEUR EU -893745521.6 37018974117
SNCB HOLDING SNCVPEUR EO -893745521.6 37018974117
SNCB HOLDING SNCBPD BB -893745521.6 37018974117
SNCB HOLDING SNCVP BB -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
SNIA BPD SN GR -141935918.3 150447396.9
SNIA BPD-ADR SBPDY US -141935918.3 150447396.9
SNIA SPA SNIA GR -141935918.3 150447396.9
SNIA SPA SN IM -141935918.3 150447396.9
SNIA SPA SN EO -141935918.3 150447396.9
SNIA SPA SBPDF US -141935918.3 150447396.9
SNIA SPA SN EU -141935918.3 150447396.9
SNIA SPA SIAI IX -141935918.3 150447396.9
SNIA SPA SIAI PZ -141935918.3 150447396.9
SNIA SPA SNIB GR -141935918.3 150447396.9
SNIA SPA SSMLF US -141935918.3 150447396.9
SNIA SPA SNIXF US -141935918.3 150447396.9
SNIA SPA SN TQ -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 SNR IM -141935918.3 150447396.9
SNIA SPA-RCV SNIVF US -141935918.3 150447396.9
SNIA SPA-RIGHTS SNAW IM -141935918.3 150447396.9
SNIA SPA-RNC SNIWF US -141935918.3 150447396.9
SNIA SPA-RNC SNRNC IM -141935918.3 150447396.9
SNIA SPA-RTS SNAA IM -141935918.3 150447396.9
SNIA SPA-RTS SNSO IM -141935918.3 150447396.9
SNIACE SNC SM -52275263.4 138206021.8
SNIACE SNC PZ -52275263.4 138206021.8
SNIACE SSD GR -52275263.4 138206021.8
SNIACE SNC1 EU -52275263.4 138206021.8
SNIACE SNC1 EO -52275263.4 138206021.8
SNIACE SNC1 TQ -52275263.4 138206021.8
SNIACE SNC IX -52275263.4 138206021.8
SNIACE SNCEF US -52275263.4 138206021.8
SNIACE SNC1 EB -52275263.4 138206021.8
SNIACE SNC1 S1 -52275263.4 138206021.8
SNIACE-NEW SNC/N SM -52275263.4 138206021.8
SNIACE-RT SNC/D SM -52275263.4 138206021.8
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 ARRGBP EO -89943297.24 11659772905
SOCIETE DES AUTO SEAUF US -89943297.24 11659772905
SOCIETE DES AUTO ARR1 VX -89943297.24 11659772905
SOCIETE DES AUTO RK9 GR -89943297.24 11659772905
SOCIETE DES AUTO ARRGBX EO -89943297.24 11659772905
SOCIETE DES AUTO ARR BQ -89943297.24 11659772905
SOCIETE DES AUTO ARR1 PZ -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 LOCDS TQ -1736520389 862279100.1
SOLOCAL GROU-RTS LOCDS FP -1736520389 862279100.1
SOLOCAL GROU-RTS LOCDSEUR EU -1736520389 862279100.1
SOLOCAL GROU-RTS LOCDSEUR EO -1736520389 862279100.1
SOLOCAL GROUP PAJCHF EO -1736520389 862279100.1
SOLOCAL GROUP PAJ1CHF EU -1736520389 862279100.1
SOLOCAL GROUP LOCAL SW -1736520389 862279100.1
SOLOCAL GROUP PAJUSD EO -1736520389 862279100.1
SOLOCAL GROUP LOCAL QX -1736520389 862279100.1
SOLOCAL GROUP PAJGBP EO -1736520389 862279100.1
SOLOCAL GROUP PAJGBX EO -1736520389 862279100.1
SOLOCAL GROUP PAJGBX EU -1736520389 862279100.1
SOLOCAL GROUP QS3 TH -1736520389 862279100.1
SOLOCAL GROUP PAJ S1 -1736520389 862279100.1
SOLOCAL GROUP LOCALP S2 -1736520389 862279100.1
SOLOCAL GROUP PAJ EO -1736520389 862279100.1
SOLOCAL GROUP PAJ EB -1736520389 862279100.1
SOLOCAL GROUP PAJ BQ -1736520389 862279100.1
SOLOCAL GROUP LOCALP L3 -1736520389 862279100.1
SOLOCAL GROUP PAJ GK -1736520389 862279100.1
SOLOCAL GROUP PAJ EU -1736520389 862279100.1
SOLOCAL GROUP LOCALP B3 -1736520389 862279100.1
SOLOCAL GROUP LOCAL EU -1736520389 862279100.1
SOLOCAL GROUP PAJ1CHF EO -1736520389 862279100.1
SOLOCAL GROUP PAJUSD EU -1736520389 862279100.1
SOLOCAL GROUP LOCAL TQ -1736520389 862279100.1
SOLOCAL GROUP PAJ TQ -1736520389 862279100.1
SOLOCAL GROUP LOCAL EB -1736520389 862279100.1
SOLOCAL GROUP LOCAL FP -1736520389 862279100.1
SOLOCAL GROUP QS3 GR -1736520389 862279100.1
SOLOCAL GROUP PAJ IX -1736520389 862279100.1
SOLOCAL GROUP PAJ QM -1736520389 862279100.1
SOLOCAL GROUP LOCAL IX -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 SOOJ GR -138663225.9 627116116.4
SOLON AG FUE-NEW SOO4 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 SOO1USD EU -138663225.9 627116116.4
SOLON SE SNBZF US -138663225.9 627116116.4
SOLON SE SOO1 EO -138663225.9 627116116.4
SOLON SE SOON GR -138663225.9 627116116.4
SOLON SE SOO1USD EO -138663225.9 627116116.4
SOLON SE SOO1 BQ -138663225.9 627116116.4
SOLON SE SOO1 GR -138663225.9 627116116.4
SOLON SE SOO1 EU -138663225.9 627116116.4
SOLON SE SOON EO -138663225.9 627116116.4
SOLON SE SGFRF US -138663225.9 627116116.4
SOLON SE SOON EU -138663225.9 627116116.4
SOLON SE SOO1 PZ -138663225.9 627116116.4
SOLON SE SOO1 TH -138663225.9 627116116.4
SOLON SE SOO1 S1 -138663225.9 627116116.4
SOLON SE SOO1 TQ -138663225.9 627116116.4
SOLON SE-RTS 3664247Z GR -138663225.9 627116116.4
SOLVAY PORTUGAL- 4775353Z PL -26828982.51 133606876.8
SOMERSTON HOTELS 1231735Z LN -41262222.44 103352288.9
SOMERSTON HOTELS 1167535Z LN -189322116.8 379519378.5
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 EU -24220244 153759286.6
SOPAF SPA SOCAF US -24220244 153759286.6
SOPAF SPA SPF QM -24220244 153759286.6
SOPAF SPA SPF TQ -24220244 153759286.6
SOPAF SPA SPF EB -24220244 153759286.6
SOPAF SPA SPFI IX -24220244 153759286.6
SOPAF SPA SPF EO -24220244 153759286.6
SOPAF SPA SOPAF US -24220244 153759286.6
SOPAF SPA SPF IM -24220244 153759286.6
SOPAF SPA SPF PZ -24220244 153759286.6
SOPAF SPA SPF BQ -24220244 153759286.6
SOPAF SPA SSZ HK -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 SCHEUSD EU -456945463.9 226544692
SOUTHERN CROSS SCHEEUR EU -456945463.9 226544692
SOUTHERN CROSS SCHE3 EO -456945463.9 226544692
SOUTHERN CROSS SCHE6 EO -456945463.9 226544692
SOUTHERN CROSS SOCHF US -456945463.9 226544692
SOUTHERN CROSS SCHE8 EO -456945463.9 226544692
SOUTHERN CROSS SCH3 EO -456945463.9 226544692
SOUTHERN CROSS F2Z TH -456945463.9 226544692
SOUTHERN CROSS SCHE TQ -456945463.9 226544692
SOUTHERN CROSS SCHE QM -456945463.9 226544692
SOUTHERN CROSS SCHEEUR EO -456945463.9 226544692
SOUTHERN CROSS SCHEGBP EO -456945463.9 226544692
SOUTHERN CROSS SCHE EU -456945463.9 226544692
SOUTHERN CROSS SCH4 EO -456945463.9 226544692
SOUTHERN CROSS SCHE PO -456945463.9 226544692
SOUTHERN CROSS SCHE NR -456945463.9 226544692
SOUTHERN CROSS SCHE5 EO -456945463.9 226544692
SOUTHERN CROSS SCHE LN -456945463.9 226544692
SOUTHERN CROSS F2Z GR -456945463.9 226544692
SOUTHERN CROSS SCHE PZ -456945463.9 226544692
SOUTHERN CROSS SCHE4 EO -456945463.9 226544692
SOUTHERN CROSS SCHE NQ -456945463.9 226544692
SOUTHERN CROSS SCHE VX -456945463.9 226544692
SOUTHERN CROSS SCHE EB -456945463.9 226544692
SOUTHERN CROSS SCHE EO -456945463.9 226544692
SOUTHERN CROSS SCH5 EO -456945463.9 226544692
SOUTHERN CROSS SCHE IX -456945463.9 226544692
SOUTHERN CROSS SCHE7 EO -456945463.9 226544692
SOUTHERN CROSS SCHEUSD EO -456945463.9 226544692
SOUTHERN CROSS SCHE BQ -456945463.9 226544692
SOUTHERN CROSS SCHE S1 -456945463.9 226544692
SOUTHERN CROSS SCHE2 EO -456945463.9 226544692
SOUTHERN ELE-ADR SOELY US -267583953 1807293418
SOUTHERN ELEC 619136Q LN -267583953 1807293418
SOUTHERN ELEC-B SELB LN -267583953 1807293418
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 HEALTHC PL SPI1EUR EO -424420919.6 2675077678
SPIRE HEALTHC PL SPIL S1 -424420919.6 2675077678
SPIRE HEALTHC PL SPI LN -424420919.6 2675077678
SPIRE HEALTHC PL S00 GR -424420919.6 2675077678
SPIRE HEALTHC PL SPI1GBX EO -424420919.6 2675077678
SPIRE HEALTHC PL SPI1GBX EU -424420919.6 2675077678
SPIRE HEALTHC PL SPI1EUR EU -424420919.6 2675077678
SPIRE HEALTHC PL SPIL TQ -424420919.6 2675077678
SPIRE HEALTHC PL SPIL IX -424420919.6 2675077678
SPIRE HEALTHC PL SPIL EB -424420919.6 2675077678
SPIRE HEALTHC PL SPIL L3 -424420919.6 2675077678
SPIRE HEALTHC PL SPIL B3 -424420919.6 2675077678
SPIRE HEALTHC PL SPIL S2 -424420919.6 2675077678
SPIRE HEALTHC PL SPIL BQ -424420919.6 2675077678
SPIRE HEALTHCARE 1025367D LN -424420919.6 2675077678
SPORT LISBOA E B SLBENU S2 -30963605.34 541880660.6
SPORT LISBOA E B SLBENU L3 -30963605.34 541880660.6
SPORT LISBOA E B SLBENU B3 -30963605.34 541880660.6
SPORT LISBOA E B 1249Z PL -30963605.34 541880660.6
SPORTING CLUBE D SCDF EO -155291408.7 181372936.9
SPORTING CLUBE D SCP EB -155291408.7 181372936.9
SPORTING CLUBE D SCPL IX -155291408.7 181372936.9
SPORTING CLUBE D SCP1 PZ -155291408.7 181372936.9
SPORTING CLUBE D SCPU S2 -155291408.7 181372936.9
SPORTING CLUBE D SCP TQ -155291408.7 181372936.9
SPORTING CLUBE D SCG GR -155291408.7 181372936.9
SPORTING CLUBE D SCPX PX -155291408.7 181372936.9
SPORTING CLUBE D SCP PL -155291408.7 181372936.9
SPORTING CLUBE D SCPU L3 -155291408.7 181372936.9
SPORTING CLUBE D SCPU B3 -155291408.7 181372936.9
SPORTING CLUBE D SCDF EU -155291408.7 181372936.9
SPORTING-SOC DES SCDF PL -155291408.7 181372936.9
SPORTING-SOC-RTS SCPVS PL -155291408.7 181372936.9
SPORTING-SOC-RTS SCPDS PL -155291408.7 181372936.9
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 SRLLF US -119433664.7 940394639.1
STIROL CONCERN STIR UZ -119433664.7 940394639.1
STIROL CONCERN STRLF US -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 3809140Z SM -4604655.096 154658232.2
SUZLON WIND ENER 3985532Z DC -50030921.82 151671945.3
SWEDISH M-UN ADR SWMAY US -5542392.264 2147261314
SWEDISH MA-RE RT SWMASR SS -5542392.264 2147261314
SWEDISH MAT-ADR 3053566Q US -5542392.264 2147261314
SWEDISH MAT-ADR SWMA GR -5542392.264 2147261314
SWEDISH MAT-RTS SWMYR US -5542392.264 2147261314
SWEDISH MATCH SWD LI -5542392.264 2147261314
SWEDISH MATCH AB SWMAEUR EO -5542392.264 2147261314
SWEDISH MATCH AB SWMA GK -5542392.264 2147261314
SWEDISH MATCH AB SWMAS L3 -5542392.264 2147261314
SWEDISH MATCH AB SWMA TQ -5542392.264 2147261314
SWEDISH MATCH AB SWMAS B3 -5542392.264 2147261314
SWEDISH MATCH AB SWMA EU -5542392.264 2147261314
SWEDISH MATCH AB SWM VX -5542392.264 2147261314
SWEDISH MATCH AB SWMA NR -5542392.264 2147261314
SWEDISH MATCH AB SWMA IX -5542392.264 2147261314
SWEDISH MATCH AB SWM TH -5542392.264 2147261314
SWEDISH MATCH AB SWMAUSD EU -5542392.264 2147261314
SWEDISH MATCH AB SWMA SS -5542392.264 2147261314
SWEDISH MATCH AB SWMD L3 -5542392.264 2147261314
SWEDISH MATCH AB SWMAGBX EO -5542392.264 2147261314
SWEDISH MATCH AB SWMA LI -5542392.264 2147261314
SWEDISH MATCH AB SWMD S2 -5542392.264 2147261314
SWEDISH MATCH AB SWMAUSD EO -5542392.264 2147261314
SWEDISH MATCH AB SWMA EB -5542392.264 2147261314
SWEDISH MATCH AB SWMAS S2 -5542392.264 2147261314
SWEDISH MATCH AB SWMA SW -5542392.264 2147261314
SWEDISH MATCH AB SWMAF US -5542392.264 2147261314
SWEDISH MATCH AB SWMA NQ -5542392.264 2147261314
SWEDISH MATCH AB SWM GR -5542392.264 2147261314
SWEDISH MATCH AB SWMA BY -5542392.264 2147261314
SWEDISH MATCH AB SWMAGBP EO -5542392.264 2147261314
SWEDISH MATCH AB SWMA EO -5542392.264 2147261314
SWEDISH MATCH AB SWMD B3 -5542392.264 2147261314
SWEDISH MATCH AB SWMA BQ -5542392.264 2147261314
SWEDISH MATCH AB SWMA S1 -5542392.264 2147261314
SWEDISH MATCH AB SWMA QM -5542392.264 2147261314
SWEDISH MATCH AB SWM QT -5542392.264 2147261314
SWEDISH MATCH AB SWMAEUR EU -5542392.264 2147261314
SWEDISH MATCH AB SWMA QX -5542392.264 2147261314
SWEDISH MATCH AB SWMA PZ -5542392.264 2147261314
SWEDISH MATCH AB SWMAGBX EU -5542392.264 2147261314
SWEDISH MATCH AB SWMDF US -5542392.264 2147261314
SWEDISH MATCH- B SWMWF US -5542392.264 2147261314
SWEDISH MATCH-B 3033P US -5542392.264 2147261314
SWISS NATIONBANK SN SW -4267161939 5.52E+11
T BANK TBANK EO -46224213.41 3486115450
T BANK TBANK EU -46224213.41 3486115450
T BANK ASPT PZ -46224213.41 3486115450
T BANK ASPT EU -46224213.41 3486115450
T BANK ASPT EO -46224213.41 3486115450
T BANK ASPT GA -46224213.41 3486115450
T BANK TBANK GA -46224213.41 3486115450
TA TRIUMPH-A-RTS 1018916Z GR -124531131.9 313411495.3
TA TRIUMPH-ACQ TWNA EU -124531131.9 313411495.3
TA TRIUMPH-ACQ TWNA GR -124531131.9 313411495.3
TA TRIUMPH-ADLER TTZAF US -124531131.9 313411495.3
TA TRIUMPH-ADLER TWN EO -124531131.9 313411495.3
TA TRIUMPH-ADLER TWN PZ -124531131.9 313411495.3
TA TRIUMPH-ADLER 0292922D GR -124531131.9 313411495.3
TA TRIUMPH-ADLER TWN EU -124531131.9 313411495.3
TA TRIUMPH-ADLER TWNG IX -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 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 TALV IX -396381388.6 859487684.4
TALVIVAARA MI-DI TALV QM -396381388.6 859487684.4
TALVIVAARA MI-DI TALVEUR QM -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1V FH -396381388.6 859487684.4
TALVIVAARA MI-DI TALVL B3 -396381388.6 859487684.4
TALVIVAARA MI-DI TALV S1 -396381388.6 859487684.4
TALVIVAARA MI-DI TALV NR -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1VH S2 -396381388.6 859487684.4
TALVIVAARA MI-DI TALVEUR EU -396381388.6 859487684.4
TALVIVAARA MI-DI TALV EB -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1V BQ -396381388.6 859487684.4
TALVIVAARA MI-DI TM7 TH -396381388.6 859487684.4
TALVIVAARA MI-DI TALV PZ -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1V BY -396381388.6 859487684.4
TALVIVAARA MI-DI TALVL S2 -396381388.6 859487684.4
TALVIVAARA MI-DI TALV EU -396381388.6 859487684.4
TALVIVAARA MI-DI TALV BQ -396381388.6 859487684.4
TALVIVAARA MI-DI TALV LN -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1V EB -396381388.6 859487684.4
TALVIVAARA MI-DI TALV EO -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1V IX -396381388.6 859487684.4
TALVIVAARA MI-DI TALVUSD EO -396381388.6 859487684.4
TALVIVAARA MI-DI TM7 GK -396381388.6 859487684.4
TALVIVAARA MI-DI TALV TQ -396381388.6 859487684.4
TALVIVAARA MI-DI TLV1V TQ -396381388.6 859487684.4
TALVIVAARA MI-DI TALVL L3 -396381388.6 859487684.4
TALVIVAARA MI-DI TM7 GR -396381388.6 859487684.4
TALVIVAARA MI-DI TALVEUR EO -396381388.6 859487684.4
TALVIVAARA MI-DI TALVGBP EO -396381388.6 859487684.4
TALVIVAARA MI-DI TALVUSD EU -396381388.6 859487684.4
TALVIVAARA MI-RT TALS 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 0745741D LN -396381388.6 859487684.4
TALVIVAARA MININ TLV1VEUR NQ -396381388.6 859487684.4
TALVIVAARA MININ 0746817D FH -396381388.6 859487684.4
TALVIVAARA MININ 0745755D LN -396381388.6 859487684.4
TALVIVAARA MININ TALI LN -396381388.6 859487684.4
TALVIVAARA MININ TLV1V NQ -396381388.6 859487684.4
TALVIVAARA MININ TLV1VN13 FH -396381388.6 859487684.4
TALVIVAARA MININ TALV NQ -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 2773473Q SM -10622070.67 655950832
TAVEX ALGODO-RTS 613781Q SM -10622070.67 655950832
TAVEX ALGODON-NE ASA/N SM -10622070.67 655950832
TAVEX ALGODONERA ASA EU -10622070.67 655950832
TAVEX ALGODONERA ASA EO -10622070.67 655950832
TAVEX ALGODONERA ASA PZ -10622070.67 655950832
TAVEX ALGODONERA ASA SM -10622070.67 655950832
TEAM PARTNER-RTS 633323Q FP -13557467.93 129831049
TEAM PARTNER-RTS 2841653Q FP -13557467.93 129831049
TEAM PARTNERS TPGY IX -13557467.93 129831049
TEAM PARTNERS TIP FP -13557467.93 129831049
TEAM PARTNERS TPTRF US -13557467.93 129831049
TEAM PARTNERS TIP PZ -13557467.93 129831049
TEAM PARTNERS 2347985Q EO -13557467.93 129831049
TEAM PARTNERS 2347981Q EU -13557467.93 129831049
TEAM PARTNERS GR TPGP IX -13557467.93 129831049
TEAM PARTNERS GR TIPNV FP -13557467.93 129831049
TEAM PARTNERS GR TIPA EO -13557467.93 129831049
TEAM PARTNERS GR TIPDS FP -13557467.93 129831049
TEAM PARTNERS GR TPGP PZ -13557467.93 129831049
TEAM PARTNERS GR TIPA FP -13557467.93 129831049
TEAM PARTNERS GR TIPA EU -13557467.93 129831049
TEAM PARTNERS-N TIPN FP -13557467.93 129831049
TECNODIFF ITALIA 0965585D GR -89894162.82 152045757.5
TECNODIFF ITALIA TDIFF US -89894162.82 152045757.5
TECNODIFF ITALIA TDI IM -89894162.82 152045757.5
TECNODIFF ITALIA TDI NM -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 -33024834.87 393700243.2
TELECOM IT-RTS TMEAA IM -33024834.87 393700243.2
TELECOM ITAL RSP TIAZF US -33024834.87 393700243.2
TELECOM ITAL RSP TMER TQ -33024834.87 393700243.2
TELECOM ITAL RSP TMERM S2 -33024834.87 393700243.2
TELECOM ITAL RSP TCMN IX -33024834.87 393700243.2
TELECOM ITAL RSP TMER IM -33024834.87 393700243.2
TELECOM ITAL RSP TMER EU -33024834.87 393700243.2
TELECOM ITAL RSP TMER PZ -33024834.87 393700243.2
TELECOM ITAL RSP TMER EO -33024834.87 393700243.2
TELECOM ITAL RSP TMERM L3 -33024834.87 393700243.2
TELECOM ITAL RSP TMERM B3 -33024834.87 393700243.2
TELECOM ITAL-ADR TIAMY US -33024834.87 393700243.2
TELECOM ITAL-RTS TMIDS FP -33024834.87 393700243.2
TELECOM ITALIA M TME EU -33024834.87 393700243.2
TELECOM ITALIA M TME EO -33024834.87 393700243.2
TELECOM ITALIA M TCM IX -33024834.87 393700243.2
TELECOM ITALIA M TME QM -33024834.87 393700243.2
TELECOM ITALIA M TME NR -33024834.87 393700243.2
TELECOM ITALIA M TMEAZA IM -33024834.87 393700243.2
TELECOM ITALIA M TME NQ -33024834.87 393700243.2
TELECOM ITALIA M TME BQ -33024834.87 393700243.2
TELECOM ITALIA M TMEGBX EO -33024834.87 393700243.2
TELECOM ITALIA M TME S1 -33024834.87 393700243.2
TELECOM ITALIA M TMEM L3 -33024834.87 393700243.2
TELECOM ITALIA M TME PZ -33024834.87 393700243.2
TELECOM ITALIA M PGA2 GR -33024834.87 393700243.2
TELECOM ITALIA M TME IX -33024834.87 393700243.2
TELECOM ITALIA M TIAMF US -33024834.87 393700243.2
TELECOM ITALIA M PGA1 GR -33024834.87 393700243.2
TELECOM ITALIA M TCLM LN -33024834.87 393700243.2
TELECOM ITALIA M TME TQ -33024834.87 393700243.2
TELECOM ITALIA M TMEM B3 -33024834.87 393700243.2
TELECOM ITALIA M PGA VX -33024834.87 393700243.2
TELECOM ITALIA M TME IM -33024834.87 393700243.2
TELECOM ITALIA M TMI FP -33024834.87 393700243.2
TELECOM ITALIA M TME EB -33024834.87 393700243.2
TELECOM ITALIA M PGA GR -33024834.87 393700243.2
TELECOM ITALIA M TMEM S2 -33024834.87 393700243.2
TELEFONICA CABLE 4374649Z SM -13714272.04 108786240.3
TELENET GROUP HO 972991Z BB -1775384732 4335156691
TELENET GROUP HO 972951Z BB -1775384732 4335156691
TELENET GRP HLDG T4I TH -1775384732 4335156691
TELENET GRP HLDG TNET EU -1775384732 4335156691
TELENET GRP HLDG TNET IX -1775384732 4335156691
TELENET GRP HLDG TNET SW -1775384732 4335156691
TELENET GRP HLDG TNET PZ -1775384732 4335156691
TELENET GRP HLDG TNETGBX EU -1775384732 4335156691
TELENET GRP HLDG TNET EB -1775384732 4335156691
TELENET GRP HLDG TNETUSD EO -1775384732 4335156691
TELENET GRP HLDG TLGHF US -1775384732 4335156691
TELENET GRP HLDG TNET BB -1775384732 4335156691
TELENET GRP HLDG TNETB S2 -1775384732 4335156691
TELENET GRP HLDG T4I QT -1775384732 4335156691
TELENET GRP HLDG T4I GR -1775384732 4335156691
TELENET GRP HLDG TNET NQ -1775384732 4335156691
TELENET GRP HLDG TNET EO -1775384732 4335156691
TELENET GRP HLDG TNET QM -1775384732 4335156691
TELENET GRP HLDG TNET MT -1775384732 4335156691
TELENET GRP HLDG TNET S1 -1775384732 4335156691
TELENET GRP HLDG TNETGBP EO -1775384732 4335156691
TELENET GRP HLDG TNETB B3 -1775384732 4335156691
TELENET GRP HLDG TNETB L3 -1775384732 4335156691
TELENET GRP HLDG TNETUSD EU -1775384732 4335156691
TELENET GRP HLDG TNET GK -1775384732 4335156691
TELENET GRP HLDG TNETGBX EO -1775384732 4335156691
TELENET GRP HLDG TNET QX -1775384732 4335156691
TELENET GRP HLDG TNET TQ -1775384732 4335156691
TELENET GRP HLDG TNET LI -1775384732 4335156691
TELENET GRP HLDG TNET BQ -1775384732 4335156691
TELENET GRP HLDG 3218105Q IX -1775384732 4335156691
TELENET-STRP TNETS BB -1775384732 4335156691
TELENET-UNS ADR TLGHY US -1775384732 4335156691
TELEWEST COM-ADR TWT$ LN -3702338522 7581233764
TELEWEST COM-ADR TWSTD US -3702338522 7581233764
TELEWEST COM-ADR 940767Q GR -3702338522 7581233764
TELEWEST COM-ADR TWSTY US -3702338522 7581233764
TELEWEST COMM 604296Q GR -3702338522 7581233764
TELEWEST COMM TWSTF US -3702338522 7581233764
TELEWEST COMM TWT VX -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 TISAAW IM -216184259.4 299355124.8
TISCALI - RTS TIQA GR -216184259.4 299355124.8
TISCALI SPA TIS EO -216184259.4 299355124.8
TISCALI SPA TIS1 S1 -216184259.4 299355124.8
TISCALI SPA TISM IX -216184259.4 299355124.8
TISCALI SPA TIQ1 GR -216184259.4 299355124.8
TISCALI SPA TISN NA -216184259.4 299355124.8
TISCALI SPA TISN IM -216184259.4 299355124.8
TISCALI SPA TIS NA -216184259.4 299355124.8
TISCALI SPA TISGBX EU -216184259.4 299355124.8
TISCALI SPA TIS EB -216184259.4 299355124.8
TISCALI SPA TISGBX EO -216184259.4 299355124.8
TISCALI SPA TISN IX -216184259.4 299355124.8
TISCALI SPA TIS VX -216184259.4 299355124.8
TISCALI SPA TIQ GR -216184259.4 299355124.8
TISCALI SPA TIS NQ -216184259.4 299355124.8
TISCALI SPA TIS QM -216184259.4 299355124.8
TISCALI SPA TIS TQ -216184259.4 299355124.8
TISCALI SPA TISM B3 -216184259.4 299355124.8
TISCALI SPA TISGBP EO -216184259.4 299355124.8
TISCALI SPA TSCXF US -216184259.4 299355124.8
TISCALI SPA TIS IM -216184259.4 299355124.8
TISCALI SPA TIS NR -216184259.4 299355124.8
TISCALI SPA TIS FP -216184259.4 299355124.8
TISCALI SPA TISM L3 -216184259.4 299355124.8
TISCALI SPA TIS IX -216184259.4 299355124.8
TISCALI SPA TIQG IX -216184259.4 299355124.8
TISCALI SPA TIS EU -216184259.4 299355124.8
TISCALI SPA TISM S2 -216184259.4 299355124.8
TISCALI SPA TIS PZ -216184259.4 299355124.8
TISCALI SPA TIS BQ -216184259.4 299355124.8
TISCALI SPA TISN FP -216184259.4 299355124.8
TISCALI SPA TISN VX -216184259.4 299355124.8
TISCALI SPA- RTS TISAXA IM -216184259.4 299355124.8
TISCALI SPA- RTS 3391621Q GR -216184259.4 299355124.8
TITAN CABLE PLC 715382Q LN -3702338522 7581233764
TIUTA PLC 3814936Z LN -56307814.14 182365274.9
TNT NV TNTCHF EU -935808896.2 2884463588
TNT NV TNT NQ -935808896.2 2884463588
TNT NV TPG NA -935808896.2 2884463588
TNT NV TPG VX -935808896.2 2884463588
TNT NV TNT GR -935808896.2 2884463588
TNT NV TNT QM -935808896.2 2884463588
TNT NV TNTAUD EU -935808896.2 2884463588
TNT NV TNT NA -935808896.2 2884463588
TNT NV TNTUSD EO -935808896.2 2884463588
TNT NV TPG GR -935808896.2 2884463588
TNT NV TNT TQ -935808896.2 2884463588
TNT NV TPG LN -935808896.2 2884463588
TNT NV TNTUSD EU -935808896.2 2884463588
TNT NV TNTNOK EU -935808896.2 2884463588
TNT NV TNT VX -935808896.2 2884463588
TNT NV TNTP IX -935808896.2 2884463588
TNT NV TNTPLN EO -935808896.2 2884463588
TNT NV TPGNF US -935808896.2 2884463588
TNT NV TNT EB -935808896.2 2884463588
TNT NV TNT S1 -935808896.2 2884463588
TNT NV TNTGBX EO -935808896.2 2884463588
TNT NV TNT EU -935808896.2 2884463588
TNT NV TNTPLN EU -935808896.2 2884463588
TNT NV TNT GK -935808896.2 2884463588
TNT NV TPG LI -935808896.2 2884463588
TNT NV TNTGBX EU -935808896.2 2884463588
TNT NV TNTNOK EO -935808896.2 2884463588
TNT NV TNT EO -935808896.2 2884463588
TNT NV TNTAUD EO -935808896.2 2884463588
TNT NV TNT BQ -935808896.2 2884463588
TNT NV TNTCHF EO -935808896.2 2884463588
TNT NV TNTGBP EO -935808896.2 2884463588
TNT NV-ADR TP US -935808896.2 2884463588
TNT NV-ADR TPGA GR -935808896.2 2884463588
TNT NV-ADR TNT US -935808896.2 2884463588
TNT POST GRP-STK TPGS NA -935808896.2 2884463588
TOORA 2916665Q EU -288811.9236 147001663
TOORA 1056312D PW -288811.9236 147001663
TOORA 2916661Q EO -288811.9236 147001663
TOORA TOR PZ -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 TORM BQ -149700000 1382300032
TORM A/S TORM S1 -149700000 1382300032
TORM A/S 1108066D DC -149700000 1382300032
TORM A/S TORMC B3 -149700000 1382300032
TORM A/S TORM NQ -149700000 1382300032
TORM A/S TORM EB -149700000 1382300032
TORM A/S TORM EU -149700000 1382300032
TORM A/S TORMGBP EO -149700000 1382300032
TORM A/S TORMUSD EO -149700000 1382300032
TORM A/S TORM BY -149700000 1382300032
TORM A/S TORMUSD EU -149700000 1382300032
TORM A/S TORM EO -149700000 1382300032
TORM A/S TORM TQ -149700000 1382300032
TORM A/S TORMC S2 -149700000 1382300032
TORM A/S TORMCHF EU -149700000 1382300032
TORM A/S TORM PZ -149700000 1382300032
TORM A/S TORMC L3 -149700000 1382300032
TORM A/S TORMEUR EO -149700000 1382300032
TORM A/S D8D GR -149700000 1382300032
TORM A/S DSKBF US -149700000 1382300032
TORM A/S TORM QM -149700000 1382300032
TORM A/S TORMCHF EO -149700000 1382300032
TORM A/S TORMEUR EU -149700000 1382300032
TORM A/S TORM DC -149700000 1382300032
TORM A/S TORM IX -149700000 1382300032
TORM A/S-ADR TRMD US -149700000 1382300032
TORM A/S-ADR D8DB GR -149700000 1382300032
TORM A/S-ADR D8DA GR -149700000 1382300032
TOUGHER'S OIL DI 3807844Z ID -36877649 104267886.6
TOWER GROUP A/S TOWER DC -31099624.83 338785645.1
TOWER GROUP A/S TOWEREUR EU -31099624.83 338785645.1
TOWER GROUP A/S SICC IX -31099624.83 338785645.1
TOWER GROUP A/S TOWEREUR EO -31099624.83 338785645.1
TOWER GROUP A/S TOWER EO -31099624.83 338785645.1
TOWER GROUP A/S TOWER EU -31099624.83 338785645.1
TOWER GROUP A/S TOWER BY -31099624.83 338785645.1
TOWER GROUP A/S TOWER PZ -31099624.83 338785645.1
TOWER GROUP-NEW TOWERN DC -31099624.83 338785645.1
TOWER GROUP-RTS TOWERT DC -31099624.83 338785645.1
TOWER GROUP-RTS 3536132Q DC -31099624.83 338785645.1
TOYOTA MOTOR MAN 4512043Z FP -46821010.2 743895134.9
TPG NV TNT LN -935808896.2 2884463588
TRABZONSPOR TBZYF US -34128608.69 128273145.7
TRABZONSPOR TSPOR TI -34128608.69 128273145.7
TRABZONSPOR TSO GR -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 -1521140443 2785560242
TRAVELPORT WORLD 1TW GR -210000000 2992000000
TRAVELPORT WORLD 1TW TH -210000000 2992000000
TRAVELPORT WORLD TVPTEUR EO -210000000 2992000000
TRAVELPORT WORLD TVPTEUR EU -210000000 2992000000
TRAVELPORT WORLD 1005045D US -210000000 2992000000
TRAVELPORT WORLD TVPT US -210000000 2992000000
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 TVSB* RU -24410938.13 161377178
TVER ENERGY RET TVSB RM -24410938.13 161377178
TVER ENERGY RET TVSBG RU -24410938.13 161377178
TVER ENERGY RET 0633645D RU -24410938.13 161377178
TVER ENERGY RET TVSB RU -24410938.13 161377178
TVER ENERGY-PFD TVSBP RU -24410938.13 161377178
TVER ENERGY-PFD TVSBP* RU -24410938.13 161377178
TVER ENERGY-PFD 0633659D RU -24410938.13 161377178
TVER ENERGY-PFD TVSBP RM -24410938.13 161377178
TVER ENERGY-PFD TVSBPG RU -24410938.13 161377178
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 UPCEF US -5505478850 5112616630
UNITED PAN-EUROP UPCOF US -5505478850 5112616630
UNITED PAN-EUROP UPC VX -5505478850 5112616630
UNITED PAN-EUROP UPE1 GR -5505478850 5112616630
UNITED TEXTILES NML1 GR -163112562.6 286535432.7
UNITED TEXTILES UTEX EU -163112562.6 286535432.7
UNITED TEXTILES UTEX EO -163112562.6 286535432.7
UNITED TEXTILES NAOSF US -163112562.6 286535432.7
UNITED TEXTILES UTEX PZ -163112562.6 286535432.7
UNITED TEXTILES UTEX GA -163112562.6 286535432.7
UNITED TEXTILES NAOYK GA -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 UBS EB -58419335.21 112685124.5
URBAS GRUPO FINA UZY GR -58419335.21 112685124.5
URBAS GRUPO FINA UBS S1 -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 EO -58419335.21 112685124.5
URBAS GRUPO FINA UBS EU -58419335.21 112685124.5
URBAS GRUPO FINA UBS IX -58419335.21 112685124.5
URBAS GRUPO FINA UBS SM -58419335.21 112685124.5
URBAS GRUPO FINA UBSE B3 -58419335.21 112685124.5
URBAS GRUPO FINA UBS NR -58419335.21 112685124.5
URBAS GRUPO FINA UBSE S2 -58419335.21 112685124.5
URBAS GUADAHERMO UBSS PZ -58419335.21 112685124.5
URBAS GUADAHERMO URBZF US -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 4030437Z NA -12976610.13 100639002.5
VEOLIA TRANSPORT 4684377Z FP -4105979.639 216367398.9
VERNEUIL PARTICI VEPA FP -6937246.157 107314275.4
VERNEUIL PARTICI VRNLP B3 -6937246.157 107314275.4
VERNEUIL PARTICI VRNL EO -6937246.157 107314275.4
VERNEUIL PARTICI VRNL EU -6937246.157 107314275.4
VERNEUIL PARTICI VRNL FP -6937246.157 107314275.4
VERNEUIL PARTICI VRNL TQ -6937246.157 107314275.4
VERNEUIL PARTICI VRNL EB -6937246.157 107314275.4
VERNEUIL PARTICI VRNLP L3 -6937246.157 107314275.4
VERNEUIL PARTICI VRNL S1 -6937246.157 107314275.4
VERNEUIL PARTICI VRNLP S2 -6937246.157 107314275.4
VERNEUIL PARTICI VRNL PZ -6937246.157 107314275.4
VERNEUIL PARTICI VRNL IX -6937246.157 107314275.4
VERNEUIL PARTICI TCNP IX -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 -24128624.26 169294641.8
VIOTER S.A.-RTS BIOTR GA -24128624.26 169294641.8
VIOTER SA-AUCTIO BIOTE GA -24128624.26 169294641.8
VIRGIN HOTELS GR 4288389Z LN -30191617.1 109996972.6
VIRGIN MOB-ASSD VMOA LN -392176531.7 166074713.7
VIRGIN MOB-ASSD VMOC 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* RU -29565028.8 369623522.9
VOLGOGRAD ENERGO VGSB RM -29565028.8 369623522.9
VOLGOGRAD ENERGO VGSB RU -29565028.8 369623522.9
VOLGOGRAD ENERGO VGSBG RU -29565028.8 369623522.9
VOLGOGRAD KHIM VHIM* RU -126558518.8 153595253.5
VOLGOGRAD KHIM VHIM RU -126558518.8 153595253.5
VOLKER WESSE-CVA KKJKF US -395744.3147 4036389300
VOLKER WESSE-CVA VWSTC VX -395744.3147 4036389300
VOLKER WESSE-CVA VSTNC NA -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 FANL BQ -20561799.02 327437694.9
VOLUTION GROUP FANL EB -20561799.02 327437694.9
VOLUTION GROUP FANGBX EO -20561799.02 327437694.9
VOLUTION GROUP FANEUR EU -20561799.02 327437694.9
VOLUTION GROUP FANL L3 -20561799.02 327437694.9
VOLUTION GROUP VO1 GR -20561799.02 327437694.9
VOLUTION GROUP FAN LN -20561799.02 327437694.9
VOLUTION GROUP FANL IX -20561799.02 327437694.9
VOLUTION GROUP FANL S1 -20561799.02 327437694.9
VOLUTION GROUP FANEUR EO -20561799.02 327437694.9
VOLUTION GROUP FANL S2 -20561799.02 327437694.9
VOLUTION GROUP FANL B3 -20561799.02 327437694.9
VOLUTION GROUP FANGBX EU -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 WCRX US -427000000 3832000000
WARNER CHILCOT-A G3L GR -427000000 3832000000
WARNER CHILCOT-A WCRXEUR EO -427000000 3832000000
WARNER CHILCOT-A G3LA GR -427000000 3832000000
WARNER CHILCOT-A WCRXEUR EU -427000000 3832000000
WARNER CHILCOT-A G3LA TH -427000000 3832000000
WARNER MUSIC GRO 3809048Z ID -104416.9967 209719016.9
WATERFORD - RTS 508523Q LN -505729895.2 820803256
WATERFORD - RTS 508519Q LN -505729895.2 820803256
WATERFORD - RTS WWWB GR -505729895.2 820803256
WATERFORD - RTS WWWA ID -505729895.2 820803256
WATERFORD - RTS WWWA GR -505729895.2 820803256
WATERFORD - RTS WWWB ID -505729895.2 820803256
WATERFORD CRYSTA 4459209Z ID -150437387.1 114109583.5
WATERFORD W-ADR WATWY US -505729895.2 820803256
WATERFORD WDGEWD WATWF US -505729895.2 820803256
WATERFORD WDGEWD WATFF US -505729895.2 820803256
WATERFORD WE-RTS WTFN ID -505729895.2 820803256
WATERFORD WE-RTS WTFN VX -505729895.2 820803256
WATERFORD WE-RTS WTFN LN -505729895.2 820803256
WATERFORD WE-RTS WTFF LN -505729895.2 820803256
WATERFORD WE-RTS WTFF ID -505729895.2 820803256
WATERFORD WED-RT WTFR LN -505729895.2 820803256
WATERFORD WED-RT WWWD ID -505729895.2 820803256
WATERFORD WED-RT WWWC ID -505729895.2 820803256
WATERFORD WED-RT 586552Q LN -505729895.2 820803256
WATERFORD WED-RT WWWC GR -505729895.2 820803256
WATERFORD WED-RT WWWD GR -505729895.2 820803256
WATERFORD WED-RT 586556Q LN -505729895.2 820803256
WATERFORD WED-UT WTFUGBX EU -505729895.2 820803256
WATERFORD WED-UT WTFU EO -505729895.2 820803256
WATERFORD WED-UT WTFU PO -505729895.2 820803256
WATERFORD WED-UT WTFU ID -505729895.2 820803256
WATERFORD WED-UT WTFUGBX EO -505729895.2 820803256
WATERFORD WED-UT WTFU VX -505729895.2 820803256
WATERFORD WED-UT WWW GR -505729895.2 820803256
WATERFORD WED-UT WWW PO -505729895.2 820803256
WATERFORD WED-UT WWWD PZ -505729895.2 820803256
WATERFORD WED-UT WTFU LN -505729895.2 820803256
WATERFORD WED-UT WTFU IX -505729895.2 820803256
WATERFORD WED-UT WTFU EU -505729895.2 820803256
WATERFORD-ADR UT WFWA GR -505729895.2 820803256
WATERFORD-ADR UT WATFZ US -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 246270000
WESTA INTERNATIO WESW S2 -58977000 246270000
WESTA INTERNATIO WESW L3 -58977000 246270000
WESTAISIC WESPLN EO -58977000 246270000
WESTAISIC WES PW -58977000 246270000
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 101001Q LN -59180694.37 1343662688
WILLIAM HILL-W/I 605547Q US -59180694.37 1343662688
WINCANTON PL-ADR WNCNY US -434506999.9 685414924.1
WINCANTON PLC WIN9 EO -434506999.9 685414924.1
WINCANTON PLC WIN1GBP EO -434506999.9 685414924.1
WINCANTON PLC WIN1 S1 -434506999.9 685414924.1
WINCANTON PLC WINL L3 -434506999.9 685414924.1
WINCANTON PLC WIN1 EU -434506999.9 685414924.1
WINCANTON PLC WIN12 EO -434506999.9 685414924.1
WINCANTON PLC WIN8 EO -434506999.9 685414924.1
WINCANTON PLC WIN1USD EU -434506999.9 685414924.1
WINCANTON PLC WIN1USD EO -434506999.9 685414924.1
WINCANTON PLC WIN7 EO -434506999.9 685414924.1
WINCANTON PLC WIN6 EO -434506999.9 685414924.1
WINCANTON PLC WIN LN -434506999.9 685414924.1
WINCANTON PLC WIN1 NQ -434506999.9 685414924.1
WINCANTON PLC WIN13 EO -434506999.9 685414924.1
WINCANTON PLC WIN1EUR EU -434506999.9 685414924.1
WINCANTON PLC WNCNF US -434506999.9 685414924.1
WINCANTON PLC WIN10 EO -434506999.9 685414924.1
WINCANTON PLC WINL S2 -434506999.9 685414924.1
WINCANTON PLC WIN5 EO -434506999.9 685414924.1
WINCANTON PLC WIN PZ -434506999.9 685414924.1
WINCANTON PLC WIN1 EB -434506999.9 685414924.1
WINCANTON PLC WIN1 BQ -434506999.9 685414924.1
WINCANTON PLC WIN IX -434506999.9 685414924.1
WINCANTON PLC WINL B3 -434506999.9 685414924.1
WINCANTON PLC WIN1EUR EO -434506999.9 685414924.1
WINCANTON PLC WIN VX -434506999.9 685414924.1
WINCANTON PLC WIN11 EO -434506999.9 685414924.1
WINCANTON PLC WIN1 QM -434506999.9 685414924.1
WINCANTON PLC WIN1 EO -434506999.9 685414924.1
WINCANTON PLC WIN PO -434506999.9 685414924.1
WINCANTON PLC WIN4 EO -434506999.9 685414924.1
WINCANTON PLC WIN1 TQ -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 LN -2257521127 2120614224
YELL GROUP PLC YELL PO -2257521127 2120614224
YELL GROUP PLC YELL NQ -2257521127 2120614224
YELL GROUP PLC YELL VX -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 -603437932.8 3840966218
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* RU -237320797.3 371525868.1
ZIL AUTO PLANT-P ZILLP RU -237320797.3 371525868.1
ZIL AUTO PLANT-P ZILLP RM -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 ZUCAZA IM -1962546.592 214098163.1
ZUCCHI - RTS ZUCAZEUR EO -1962546.592 214098163.1
ZUCCHI - RTS ZUCAZEUR EU -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCRM L3 -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCRM S2 -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCR TQ -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 ZUCS IM -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCR PZ -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCR EU -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCR IM -1962546.592 214098163.1
ZUCCHI,VINC- RSP ZUCRM B3 -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC TQ -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 QM -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUCM B3 -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC BQ -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC PZ -1962546.592 214098163.1
ZUCCHI,VINCENZO VIZUF US -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC IM -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC S1 -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUCM L3 -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUCM S2 -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC EU -1962546.592 214098163.1
ZUCCHI,VINCENZO ZUC EO -1962546.592 214098163.1
ZURICH EMPLOYMEN 1292298Z LN -571647918 152143800.5
ZVON ENA HOLDING ZVHR PZ -304033160.5 774883403.9
ZVON ENA HOLDING ZVHR EO -304033160.5 774883403.9
ZVON ENA HOLDING ZVHR SV -304033160.5 774883403.9
ZVON ENA HOLDING ZVHR EU -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 * * *