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iShares S&P India Nifty 50 Index Fund Starts Trading Today
November 20, 2009-Barclays Global Investors, N.A. (BGI), the world's largest Exchange Traded Funds (ETFs) provider(1), announced today that the iShares S&P India Nifty 50 Index Fund (NASDAQ: INDY) began trading today.
The new iShares Fund is designed to track the S&P CNX Nifty Index that represents the 50 largest and most liquid Indian securities listed on the National Stock Exchange (NSE) of India. iShares offers investors the widest selection of emerging market ETFs with 18 regional and single country emerging market funds, including the iShares S&P India Nifty 50 Index Fund. As of October 31, 2009, 30% of iShares total net asset flows or US$9.8 Billion has gone into emerging market and single emerging countries.(2)
"We're pleased to provide investors with an iShares ETF that tracks one of the most investable and well-known India indexes. Demand for Indian equities continues to be strong as India has a differing set of companies and industries. In addition, the index, like other emerging market indexes, has a low correlation with U.S. equities, which offers the important added benefit of portfolio diversification," said Noel Archard, head of U.S. iShares Product Research and Development.
1) Source: Morgan Stanley Investment Strategies and Bloomberg as of 12/31/2008. Based on number of ETFs, AUM, and market share.
(2) Source: Bloomberg, FactSet and BGI.
SOURCE: Barclays Global Investors
New York Dow ETF to be Listed (Simplex Asset Management Co., Ltd.)
November 19, 2009--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of the NY Dow ETF "Simple-X NY Dow Jones Index ETF", managed by Simplex Asset Management Co., Ltd.
The ETF is planned to be listed on Thursday, December 10, 2009. This is the first ETF linked to American stocks to be listed on markets in Japan. The "Dow Jones Industrial Average" to which the ETF is linked is comprised of 30 prominent American corporations, making it the representative index of the nation.
| Code | 1679 (ISIN JP3047110006) |
|---|---|
| Name | Simple-X NY Dow Jones Index ETF |
| Fund Administrator | Simplex Asset Management |
| Listing Date | December 10, 2009 |
| Trading Unit | 10 units |
| Underlying Index | Dow Jones Industrial Average |
With this listing there will be a total of 70 ETFs listed on the Tokyo market, bringing us closer to the goal of 100 listed ETFs by the end of fiscal year 2010, as laid out in the Medium-Term Management Plan. TSE will continue working to diversify the ETF market and improve the convenience of our market for all investors.
Source: Tokyo Stock Exchange
Societe Generale to launch China 50 ETF traced structured product
November 19, 2009--France-based Societe Generale is to roll out a structured investment product targeting the China 50 ETF, tapping into the renminbi-denominated A share market.
The derivative product, developed by Societe Generale in cooperation with its Chinese partner Everbright Securities, will focus on the more liquidised 50 ETF products in the mainland Chinese stock market to lure local investors.
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Source: ETF Express
iShares adds five A-share ETFs in Hong Kong
The products will provide access to the CSI 300 index and more focused exposure to four sectors, including energy, financials, infrastructure and materials.
November 19, 2009-- Today, on the fifth anniversary of the 2004 listing of the wildly popular iShares FTSE/ Xinhua A50 China Index ETF, iShares is launching five new A-share ETFs in Hong Kong.
The new listings include four sector-based A-share ETFs and one feeder fund that will give investors alternative exposure linked to the CSI 300 index. They are the iShares CSI 300 A-shares Index ETF, iShares CSI A-share Energy Index ETF, iShares CSI A-share Financials Index ETF, iShares CSI A-share Infrastructure Index ETF and iShares CSI A-share Materials Index ETF.
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Source: Asian Investor
S&P quits Australian retail market
November 18, 2009--Ratings agency Standard & Poor's (S&P) has announced it will quit the Australian retail market, limiting its advice to wholesale investors after Australia's corporate watchdog said it would make ratings agencies more accountable for the advice they give.
While announcing it had withdrawn its application for a retail Australian Financial Service Licence (AFSL), S&P said it would apply for a wholesale license, under the terms of the new regulatory framework being introduced by the Australian Securities and Investments Commission (ASIC).
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Source: FT.com
DB Index Research -- Weekly ETF Reports -- Asia-Pacific
November 17, 2009--Highlights
Market Overview
There are 190 equity based ETFs in the Asia Pacific region with 249 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 39.83% of the whole market, whilst China has the largest market share by turnover with 47.06%.
There were no new listings in the last week.
Turnover
Monthly average daily turnover remained at about the same level in the last week. Turnover for the previous week was USD 1022m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 272m accounting for 26.6% of total turnover.
Assets Under Management
AUM remained at about the same level in the previous week. AUM as of Nov 16th were USD 61.1bn. The largest ETF by AUM is the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker, managed by BGI, with AUM of USD 6.7bn.
To request a copy of the report click here
Source: Aram Flores and Shan Lan -DB Index Research
First A-share Industry Sector ETFs to Debut on HKEx
November 17, 2009--Hong Kong's Exchange Traded Fund (ETF) market further expands with a series of five Mainland A-share industry sector ETFs setting to debut on Wednesday, 18 November on the Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx).
The new Mainland A-share index ETFs are:
|
Stock Code |
Name of ETF |
Benchmark index |
|
2846 |
iShares |
|
|
3050 |
iShares |
|
|
3039 |
iShares |
|
|
2829 |
iShares |
|
|
3006 |
iShares |
|
With the listing of these five new ETFs, there will be a total of eight ETFs on Mainland A-share indices listed on the Exchange, and HKEx will be the first exchange with Mainland A-share industry sector ETFs.
All ETFs listed on the Exchange, including these five new iShares listings, are designated for market making and for short selling with tick rule exemption. The market makers for these five ETFs are Citigroup Global Markets Asia Limited, Credit Suisse Securities (Hong Kong) Limited and UBS Securities Hong Kong Limited.
On 18 November, the Exchange will have listed 42 ETFs. There are eight ETFs on Mainland A-share indices, seven on Hong Kong equity indices, 22 on other regional and international equity indices, two on commodities and three on bonds and money markets.
The three other Mainland A-share index ETFs are:
|
Stock Code |
Name of ETF |
Benchmark index |
|
2823 |
iShares FTSE/Xinhua A50 China Index ETF |
FTSE/Xinhua |
|
2827 |
W.I.S.E. - |
|
|
3024 |
W.I.S.E. - SSE50 China Tracker |
SSE50 Index |
Investors should note that all A-share ETFs use derivative instruments to synthetically replicate the performance of the underlying benchmarks. These ETFs are subject to counterparty risk of the derivative instruments' issuers and may suffer losses if such issuers default or fail to honour their contractual commitments. For a better understanding of the risks involved, investors are advised to read the ETFs' prospectuses in full prior to making any investment decisions. Information on the various risks of ETFs and their structures is available on the HKEx website.
Source: Hong Kong Exchange (HKE)
More Real-time Derivatives Market Data Now Available to Investors
November 17, 2009--Hong Kong Exchanges and Clearing Limited (HKEx) has enriched the content of the Price Reporting System (PRS), the system HKEx uses to transmit real-time derivatives market data to end-users through authorised information vendors.
The enriched content was released for use on 31 October this year and operations ran smoothly throughout the two-week stabilisation period which ended last Saturday (14 November).
The main objective of the change was to enhance the transparency of HKEx's derivatives market by enriching the content of the PRS. The newly added content includes the following:
Information on standard combination series available for trading on the derivatives market - the PRS now provides the best five quotations on both the buy and sell sides of standard combination series, which are usually actively traded for position rollover before the expiry day;
Accumulated contract volume of block trades for each series;
Market status - indicates status of a market during a trading day (such as market open and market closed);
Product status - indicates where status of trading in a particular product has changed (for example, from "suspended" to "resumed");
High priority market messages - HKEx can now use the PRS to disseminate important market messages to investors through information vendors; and
Other new content, including the opening price (the price of the first trade of the current trading day) and net open interest for each series on the current trading day.
Information services provided by different information vendors may vary and not all information vendors at present have included the new content in their services. Exchange Participants and investors interested in the added content may contact their information vendors directly for further details.
HKEx will continue to review its information systems from time to time and upgrade its information services to meet changing market needs.
Source: Hong Kong Exchange (HKE)
CME Group, KRX Announce After-Hours Access To KOSPI 200 Futures On CME Globex - Companies Also Pursuing Potential Order-Routing Initiative
November 16, 2009--CME Group, the world's largest and most diverse derivatives marketplace, and the Korea Exchange Inc. (KRX), a premier capital marketplace for Northeast Asia, today announced the launch of the first phase of their program to provide customers with after-hours access to KOSPI 200 Futures hosted on the CME Globex electronic trading platform by routing orders through KRX Unified System for Global (USG) trading.
In addition, Chicago Mercantile Exchange (CME) and KRX also indicated their commitment to pursue a potential bi-directional order routing initiative, based on the model CME Group has implemented successfully with BM&FBOVESPA in Brazil. This initiative is subject to regulatory approvals. Building on CME Group's track record of successful relationships, volume routed through CME Globex now accounts for more than 25 percent of trading activity in BM&FBOVESPA's stock index futures contracts.
"The launch of after-hours trading for KOSPI 200 Futures on CME Globex is a significant achievement, and we are proud to partner with KRX to deliver this advancement in Korean capital markets," said Phupinder Gill, CME Group President. "Through this initiative, we will work with KRX to create opportunities to expand access and increase distribution of both exchange's products globally. Our partnership with KRX is another example of CME Group's commitment to Asia and to expanding our services to customers around the world."
"This after-hours trading for KOSPI 200 Futures on CME Globex is a big breakthrough for the global expansion of the KRX derivatives market," said Chang-ho Lee, Acting Chairman and CEO of KRX. "In this regard, I'm very glad that we can provide the enhanced tool of 24-hour risk management to customers and the opportunity of a new revenue source to members."
As phase one of this multi-phase program is completed, KRX clearing members will have access to the KOSPI 200 Futures market via the USG. Direct access through global CME Globex connections is subject to regulatory approvals.
The KOSPI 200 comprises the 200 largest publicly-traded companies on the Korean Exchange. This index is seen as a barometer of the overall movements of the Korean stock market, and is used to benchmark the performance of investors and funds in the Korean market. According to the first half of 2009 statistics compiled by Futures Industry Association, KOSPI 200 Futures is the 6th most traded index futures in the world in terms of trading volume, with 43.9 million contracts.
For additional information about KOSPI 200 Futures on CME Globex, visit: http://eng.krx.co.kr/index.html
Source: CME Group
Support of the MIFC Initiative, Aims to Boost Growth Islamic Finance Market And Opportunities In Korea
November 16, 2009--The Korea Exchange (KRX) and Bursa Malaysia will be playing host to the Korean investment bankers, advisers, issuers and institutional investors at its inaugural KRX-Bursa Malaysia Islamic Capital Market Conference, which will be held on 19 November 2009 in Seoul, Korea. This conference which is co-organised in support of the Malaysia International Islamic Financial Centre (MIFC) initiative, aims to share Malaysia's Islamic finance experience and to promote the opportunities in the Malaysian Islamic capital market landscape. This collaborative effort hopes to strengthen the growth opportunities of Islamic finance amongst the discerning Korean investors and issuers.
This conference is timely as there is a strong interest for Korea to grow the Islamic finance industry, following from the proposed liberalisation measures by the Korean government which are aimed to allow the issuance of Islamic bonds or sukuk as well as allow incomes from sukuk to be tax-exempted. These proposed laws are expected to be passed by the Korean government's National Assembly later this year.
In conjunction with the KRX-Bursa Malaysia Islamic Capital Market Conference, delegates of the MIFC initiative, which comprises senior management of Bank Negara Malaysia (Central Bank of Malaysia), Securities Commission Malaysia and Bursa Malaysia, will be participating in the conference. Malaysia acknowledges Korea as a potential Islamic financial market and welcomes Korea's participation in shaping the Islamic finance landscape together, via leveraging on Malaysia's more than 30 years of experience in developing the world's most comprehensive Islamic financial system.
Chief Executive Officer of Bursa Malaysia Berhad, Dato' Yusli Mohamed Yusoff said, "We hope this conference will stimulate interest in the Shari'ah compliant products which are currently in demand from investors who are seeking returns from alternative and ethical investments. In addition, this visit by the delegates from the MIFC will pave the way for more opportunities to exchange ideas in Islamic finance and forge greater working relations between Korea and Malaysia for the interest of growing this important industry. We are confident that the Malaysian and Korean authorities as well as KRX and Bursa Malaysia would be able to leverage on our respective strengths in the establishment of an Islamic capital market in Korea."
This KRX-Bursa Malaysia Islamic Capital Market Conference is expected to attract 200 participants and will provide a platform for all attendees to gain an insight into the outlook and trends of Islamic capital markets. Key discussion topics will centre around the liberalisation of Islamic financial markets, investment and business opportunities in Islamic capital market, the Islamic finance landscape and framework as well as the growth of Islamic finance products in Asia and globally.
Source: Bursa Malaysia
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