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Hong Kong Weighing OTC Derivatives Regulation With Consultation
October 17, 2011-- Hong Kong has begun consultation on proposals for regulation of the city’s over-the-counter derivatives market in a bid to reduce systemic risk in the wake of the 2008 collapse of Lehman Brothers Holdings Inc.
Main proposals included in the consultation paper released by the Hong Kong Monetary Authority and the city’s Securities and Futures Commission include mandatory reporting and central clearing of over-the-counter transactions. Hong Kong Exchanges & Clearing Ltd., the city’s bourse operator, will establish a clearing house for the transactions while the the HKMA will create a trade repository to collect data on the market. The consultation will end on Nov. 30.
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Source: Bloomberg BusinessWeek
Tokyo Stock Exchange Said to Forgo IPO Plan on Path to 2012 Bid for Osaka
November 16, 2011--Tokyo Stock Exchange Group Inc. dropped plans to sell shares to the public while it is in talks to buy a controlling stake in Osaka Securities Exchange Co., a person with direct knowledge of the matter said.
The TSE will forgo an initial offering during negotiations to purchase as much as 66.6 percent of its rival by mid-2012, said the person, who declined to be named because the discussions are private. Osaka Securities’ shares slipped 0.9 percent to close at 406,500 yen today.
Japan’s biggest bourses are discussing a merger after the country lost its place as the world’s second-largest equity market to China. A combination would give the 133-year-old Tokyo venue, home to Sony Corp. and Toyota Motor Corp., access to Osaka’s derivatives trading system and may create the world’s seventh-largest exchange company by share value. More than $30 billion in bourse mergers have been proposed worldwide since October 2010.
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Source: Bloomberg
OSE DJIA Futures and Nikkei 225 VI Futures Launch Date
November 15, 2011--Osaka Securities Exchange Co., Ltd. has determined the launch date for futures products based on “Dow Jones Industrial Average” and “Nikkei Stock Average Volatility Index” as follows.
Launch Date: Monday, February 27, 2012
Names of Products:
OSE DJIA Futures
Nikkei 225 VI Futures
Determination of Launch Date for "OSE DJIA Futures" and "Nikkei 225 VI Futures
Source: Osaka Securities Exchange
TOCOM Changes in Application of Circuit Breakers
November 15, 2011--From January 4, 2012, a new Exchange rule provides that a Circuit Breaker (CB) triggered for a specific contract month will affect only that contract month. (Under the current Exchange rules, a CB triggered in any one contact month affects all six contract months.)
For Gold Options, the new rules provide that when a strike price falls
outside the range Exchange specified, CB trigger will affect only one series
and does not automatically trigger a CB for any other series.
Source: TOCOM
Four theme indexes including SZSE equipment released today
November 15, 2011--Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. recently announced that four SZSE series theme indexes will be released on 15 November 2011, including SZSE equipment index, SZSE real estate index, SZSE environmental protection index and SZSE commodities producer index, each with the 31 December 2004 as base day, the basis point of 1000 points.
The SZSE equipment index includes 80 sample stocks of listed companies involved in such fields as oil and natural gas equipments, telecommunication equipments, and SZSE real estate index includes 40 sample stocks covering the real estate development and operation; SZSE environmental protection index includes 40 sample stocks in fields such as environmental protection equipment manufacturing, environmental protection service and so on; SZSE commodities producer index tracks 40 constituent stocks involving energy, raw material, agricultural products and so forth. The annual return rate of the four theme indexes is respectively 19%, 20%, 19% and 23%.
The release of four theme indexes will provide investors with enriched research tools and investment subjects.
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Source: Shenzhen Stock Exchange
SZSE officially launches implementation of the 5th version trading system construction
November 15, 2011--SZSE held the celebration for 10-year anniversary of the 4th version of trading system, also for launching the construction of the 5th version of trading system. The 4th version of trading system, officially launched on November 12, 2001, was independently researched and developed by SZSE, which, adhering to the fundamental principal of “secure, efficient and self-controllable”, constantly expands and improves the function and performance of the system in light of the needs for constructing China’s multi-layer capital market. In the past 10 years, the 4th version of trading system has witnessed the establishment of split share structure reform, SME Board, ChiNext, and Zhongguancun Park Enterprises Stock Quotation System, and other major business innovation including ETFs, LOFs, margin trading securities lending in the process of rapid development of Shenzhen securities.
It plays a significant role as technology support to guarantee the safe and stable market operation and push forward the construction of multi-layer capital market. By far, the 4th version of trading system has provided trading services for as many as 1800 securities, 4700 sales networks and 100 million investors, with the actual peak amount of daily entrusted deals handled as high as 22.47 million, and a 10-year record for continuously safe operation.
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Source: SZSE
Improvements in Higher Education Needed to Sustain Growth in Low and Middle Income East Asia
October 13, 2011--Low- and middle-income countries in East Asia need to make their higher education systems more responsive to labor market demands and the economy as a whole to climb up the income ladder, says a new World Bank East Asia and Pacific Regional Report released today.
Across the region, higher education institutions can realize their full potential by providing skills and research to spur productivity and innovation, considered critical to achieving growth in a competitive global environment.
Titled “Putting Higher Education to Work: Skills and Research for Growth in East Asia”, the report sheds light on the functional skills that workers must possess to be employable and to support firms’ competitiveness and productivity. It also examines how higher education systems can produce research that will help apply, adapt and develop new technologies that will drive growth.
view report-Putting Higher Education to Work: Skills and Research for Growth in East Asia
Source: World Bank
New ETF to be Listed on Nov. 29, 2011 (Tue.) - TSE Mothers Core ETF (managed by Simplex Asset Management Co., Ltd.)
November 11, 2011--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of a new ETF managed by Simplex Asset Management Co., Ltd. The ETF will be listed on Tuesday, November 29, 2011.
Code:1563 (ISIN JP3047400001)
Name: TSE Mothers Core ETF
Fund Administrator: Simplex Asset Management
Listing Date: November 29, 2011
Trading Unit: 1 unit
Underlying Index: Tokyo Stock Exchange Mothers Core Index
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Source: Tokyo Stock Exchange
TSE to Begin Calculation and Publication of TOPIX Leveraged and TOPIX Inverse Indices
November 9, 2011--IN response to various needs for stock price indices, Tokyo Stock Exchange, Inc. (TSE) will begin calculating and publishing (i) the "TOPIX Leveraged Index,"
which moves at twice the fluctuation of the TOPIX index, (ii) the "TOPIX Inverse Index," which moves in the opposite direction of fluctuations in the TOPIX index, and (iii) the "TOPIX Double Inverse Index," which moves at twice the fluctuation in the opposite direction of the TOPIX index.
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Source: Tokyo Stock Exchange
Chinese inflation drops sharply as IMF chief Christine Lagarde warns Asia to be prepared for "instability"
November 9, 2011--China's annual inflation rate fell sharply in October to 5.5pc in a further pullback from July's three-year peak, giving Beijing more room to fine-tune policy to help an economy feeling the chill of a global slowdown.
Inflation fell from 6.1pc in September and marked the third straight decline since a peak of 6.5pc in July, bolstering expectations that price pressures were on a solid downtrend.
The news came as International Monetary Fund chief Christine Lagarde warned that the world was at risk of plunging into "uncertainty and financial instability" and urged Asian economies to be on their guard.
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Source: The Telegraph
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