Global ETF News Older than One Year
Global Exchange-Traded Derivatives: A Silver Lining Amid Dark Clouds?
Otober 21, 2011--Abstract
The exchange-traded derivatives market has been one of the few highlights of the post-financial crisis period. This has been a result of innovative products such as exchange-traded fund options and volatility index derivatives in the developed markets of the US and Europe, along with the boom in equity, currency, and commodity derivatives in the emerging markets such as Brazil, India, and China.
In a new report, Global Exchange-Traded Derivatives: A Silver Lining Amid Dark Clouds?, Celent looks at the development of the exchange-traded derivatives market after the financial crisis. Exchange-traded derivatives have seen healthy growth rates over the last few years. In terms of notional amount outstanding, futures grew by 14.95% between 2005 and 2010, with options growing by 14.67% over the same period. The markets have grown at similar rates, with futures market notionals having grown at a CAGR of 14.9%, and the options market notionals having a CAGR of 14.7% between 2006 and 2011.
Source: Celent
FSB publishes report on Financial Stability Issues in Emerging Market and Developing Economies, report to the G20 Finance Ministers and central Bank Governors
October 20, 2011--The Financial Stability Board (FSB), International Monetary Fund (IMF) and the World Bank published today a report on financial stability issues of particular interest to emerging market and developing economies (EMDEs).
The report, which was prepared in response to a request by G20 Leaders at the November 2010 Seoul Summit, focuses on five key financial stability issues in EMDEs.
It makes a number of recommendations on policy measures by national authorities in EMDEs to address these issues and on ways that the international community can support them in their efforts.
Application of international financial standards. The report recommends that EMDEs further strengthen supervisory independence, resources and capacity with guidance from international standard-setting bodies as well as targeted and well-coordinated technical assistance and other capacity building activities from donors and other relevant bodies. The report also recommends that the international community send a clear and consistent message on the appropriate pace of adoption of Basel II/III in EMDEs, and that the Basel Committee should provide guidance on the application of new measures included in Basel III to EMDEs that do not intend to adopt the advanced approaches of Basel II.
view the FSB
Source: Financial Stability Board (FSB)
IOSCO publishes recommendations on market integrity
The Report analyses the most significant technological developments that have arisen in financial markets in recent years and their impact on market integrity and efficiency, and sets out Recommendations to assist securities markets regulators in mitigating these effects. These are designed to:
help regulators to identify the practical impact that technological developments have had and the regulatory issues to which they may give rise;
promote a consistent approach amongst global regulators to the latest technological developments; and
mitigate the risk that technological change may pose to the integrity and efficiency of financial markets.
Source: IOSCO
Migration and Global Environmental Change
Whilst recognising the opportunities this human movement will present, 75% of which is internal, the project has found that the challenges associated with this interaction have been underestimated. By focusing solely on those that might leave vulnerable areas, we risk neglecting key issues:
1.Millions will be ‘trapped’ in vulnerable areas and unable to move, particularly in low income countries.
2.People are as likely to move towards areas of environmental risk as they are to move away.
3.However, migration can transform people’s ability to cope with environmental change.
4.What can we do about this: By recognising migration issues in international policies, policy makers will be more effective in efforts to help people cope with environmental change:
International adaptation and development funding
Long term urban planning.
view the report-Migration and Global Environmental Change Future Challenges
and Opportunities
Source:Foresight
World Bank Report Finds More Economies Implemented Business Reforms in 2010-2011
Released today, Doing Business 2012: Doing Business in a More Transparent World assesses regulations affecting domestic firms in 183 economies and ranks the economies in 10 areas of business regulation, such as starting a business, resolving insolvency and trading across borders. This year’s report data cover regulations measured from June 2010 through May 2011. The report rankings on ease of doing business have expanded to include indicators on getting electricity. The report finds that getting an electrical connection is most efficient in Iceland; Germany; Taiwan, China; Hong Kong SAR, China; and Singapore.
The global report shows that governments in 125 economies out of 183 measured implemented a total of 245 business regulatory reforms—13 percent more reforms than in the previous year. In Sub-Saharan Africa, a record 36 out of 46 economies improved business regulations this year. Over the past six years, 163 economies have made their regulatory environment more business-friendly. China, India, and the Russian Federation are among the 30 economies that improved the most over time. This year, Singapore led on the overall ease of doing business, followed by Hong Kong SAR, China; New Zealand; the United States; and Denmark. The Republic of Korea was a new entrant to the top 10. The 12 economies that have improved the ease of doing business the most across several areas of regulation as measured by the report are Morocco, Moldova, the former Yugoslav Republic of Macedonia, São Tomé and Príncipe, Latvia, Cape Verde, Sierra Leone, Burundi, the Solomon Islands, the Republic of Korea, Armenia, and Colombia. Two-thirds are low- or lower-middle-income economies.
“At a time when persistent unemployment and the need for job creation are in the headlines, governments around the world continue to seek ways to improve the regulatory climate for domestic business. Small and medium businesses that benefit most from these improvements are the key engines for job creation in many parts of the world,” said Augusto Lopez-Claros, Director, Global Indicators and Analysis, World Bank Group.
Source: World Bank
NYSE-Deutsche Boerse ramp up deal defense
The report, which was commissioned by the exchanges and conducted by Compass Lexecon, an economic consultancy, finds that the deal would deliver around EUR3.2 billion in immediate cost-savings through a combination of clearing collateral and IT infrastructure savings.
The 200-page study was overseen by Jorge Padilla, senior managing director at Compass Lexecon. Padilla teaches competition economics at the Barcelona Graduate School of Economics and King's College, London. The report took a team of 10 people around four months to complete.
Source: efinancial news
NASDAQ OMX Commodities: New Daily Record For Carbon Futures Contracts
“We are very pleased to see that the improvements we have made to our carbon offering are generating growth in transacted volumes. In addition, having active market makers in place contribute greatly to this development,” Fredrik Voss, Vice President Carbon & Business Development, said in a statement.
For further information, please contact NASDAQ OMX Commodities
Source: NASDAQ OMX
Dow Jones Indexes Launches The Europe Dow and The Asia Dow
The new indexes will operate according to the same guiding principles as the DJIA, measuring the Europe and Asia equity markets by tracking 30 leading blue-chip companies in each region.
“With the launch of these two important regional indexes, we have taken 115 years’ worth of experience from The Dow Jones Industrial Average and applied it to The Europe Dow and The Asia Dow,” said John Prestbo, Editor and Executive Director of Dow Jones Indexes. “These two indexes add to Dow Jones Indexes’ long and impressive track record of reliably delivering significant financial data.”
Source: Dow Jones Indexes
http://www.fin24.com/Economy/US-bill-prompts-Chinese-investor-rethink-20111013
The comments by the China Chamber of International Commerce, which represents over 70 000 Chinese large trade firms and investors, echo the angry diatribe from other Chinese government bodies on Wednesday after the bill was passed.
Source: FIN24
ETF Securities- Has Gold Lost Its "Safe Haven" Status?
Summary: The rise of the gold price in recent years does not resemble the magnitude of previous asset bubbles, with gains a fraction of those seen during the NASDAQ bubble in the 1990's and the gold bubble in early 1980's. Comparing the gold price rise of the past few years to previous major "asset bubble" events such as the 1990's dot.com bubble and the late 1970's/early 1980's gold price surge, the gold price rise of the past few years has been steadier and has not yet exhibited the exponential rise that has historically preceded a price crash. visit www.etfsecurities.com for more info
Source: ETF Securities
October 20, 2011--The Technical Committee of the International Organization of Securities Commissions (IOSCO) has published its Final Report on Regulatory Issues Raised by the Impact of Technological Changes on Market Integrity and Efficiency, containing Recommendations aimed at promoting market integrity and efficiency and to mitigate the risks posed to the financial system by the latest technological developments including high frequency and algorithmic trading.
October 20, 2011--The project Migration and Global Environmental Change examines how profound changes in environmental conditions such as flooding, drought and rising sea levels will influence and interact with patterns of global human migration over the next 50 years
October 20, 2011—A new IFC and World Bank report finds that economies continued to implement reforms that enhance local firms’ ability to do business, with transparency and access to information playing a key role in the reforms.
October 20, 2011--NYSE Euronext and Deutsche Boerse have ramped up the defense of their merger with an extensive report that backs the exchanges' claim that the deal would deliver major cost-savings to the market. The findings come at a critical time for both exchanges as they seek to persuade Europe's antitrust authorities to approve the deal.
October 19, 2011--Trading and clearing of carbon futures amounted to 2,494 contracts (2,494,000 tons) Tuesday, which is the highest daily volume ever traded and cleared on NASDAQ OMX Commodities carbon futures market.
New Regional Indexes to Use Same Guiding Principles as The Dow Jones Industrial Average
30 Blue-Chip Stocks in Each Index
October 18, 2011-In the same year in which the Dow Jones Industrial Average (DJIA) celebrates its 115th birthday, Dow Jones Indexes today announced the launch of two regional versions of the iconic index, The Europe Dow and The Asia Dow.
October 13, 2011--China’s largest business group said on Thursday that it would rethink the investment environment in the United States after the US Senate approved a controversial bill aimed at making Beijing lift the value of the yuan.
The gold price dropped as much as 16% from its all time high during the risk asset correction of the past month. The sharp drop has caused many investors to question whether the metal has lost its status as a safe haven asset and "tail risk" hedge. In the note attached we look at what is behind the recent gold price correction in the context of previous risk asset corrections and assess the medium term outlook for the gold price.
The recent gold price drop is consistent with its performance during previous risk asset corrections, with financial de-leveraging and a demand for immediate cash liquidity being the likely main causes of the recent price correction. In the last major risk asset sell-off in 2H 2008, the gold price rebounded swiftly after the initial de-leveraging phase of the sell-off.
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