Global ETF News Older than One Year
BIS-New report assesses structural change in global banking
January 24, 2018--Bank profitability has fallen from pre-crisis peaks but banks have become more resilient to risks, finds a new report by the Committee on the Global Financial System (CGFS).
Over the past decade, banks' balance sheets, cost base, scope of activities and geographic presence have been shaped by the impact of the crisis, as well as the resulting changes in regulation, competition and the macroeconomic landscape.
The report, Structural changes in banking after the crisis, outlines common trends but also differences across 21 countries.
view the BIS report-Structural changes in banking after the crisis
Source: BIS
STOXX Changes Country Classification Model
January 24, 2018--STOXX Ltd., the operator of Deutsche Boerse Group's index business, and a global provider of innovative and tradable index concepts' today announced that it has changed its Country Classification model.
As part of its continuous improvement process, STOXX has reviewed the existing Country Classification model. Based on the observation of the past years' classification procedures, STOXX decided to update the model with a few key objective in mind:
improve on the quality of the input data, aiming to timeliness and completeness on a constant basis;
stick to the rules-based approach;
Source: STOXX
IMF Working Papers-Shadow Economies Around the World: What Did We Learn Over the Last 20 Years?
January 24, 2018--Summary:
We undertake an extended discussion of the latest developments about the existing and new estimation methods of the shadow economy. New results on the shadow economy for 158 countries all over the world are presented over 1991 to 2015. Strengths and weaknesses of these methods are assessed and a critical comparison and evaluation of the methods is carried out. The average size of the shadow economy of the 158 countries over 1991 to 2015 is 31.9 percent.
The largest ones are Zimbabwe with 60.6 percent, and Bolivia with 62.3 percent of GDP. The lowest ones are Austria with 8.9 percent, and Switzerland with 7.2 percent. The new methods, especially the new macro method, Currency Demand Approach (CDA) and Multiple Indicators Multiple Causes (MIMIC) in a structured hybrid-model based estimation procedure, are promising approaches from an econometric standpoint, alongside some new micro estimates. These estimations come quite close to others used by statistical offices or based on surveys.
Source: IMF
IMF Working paper-Can Countries Manage Their Financial Conditions Amid Globalization?
January 24, 2018--Summary:
This paper examines the evolving importance of common global components underlying domestic financial conditions. It develops financial conditions indices (FCIs) that make it possible to compare a large set of advanced and emerging market economies. It finds that a common component, "global financial conditions," accounts for about 20 percent to 40 percent of the variation in countries' domestic FCIs, with notable heterogeneity across countries.
Its importance, however, does not seem to have increased markedly over the past two decades. Global financial conditions loom large, but evidence suggests that, on average, countries still appear to hold considerable sway over their own financial conditions-specifically, through monetary policy. Nevertheless, the rapid speed at which foreign shocks affect domestic financial conditions may also make it difficult to react in a timely and effective manner, if deemed necessary.
What is a blockchain and a distributed ledger?
view the World Bank Distributed Ledger Technology (DLT) and Blockchain Note
Source: World Bank
IMF-World Economic Outlook Update, January 2018-Brighter Prospects, Optimistic Markets, Challenges Ahead
The revision reflects increased global growth momentum and the expected impact of the recently approved U.S. tax policy changes.
The U.S. tax policy changes are expected to stimulate activity, with the short-term impact in the United States mostly driven by the investment response to the corporate income tax cuts. The effect on U.S. growth is estimated to be positive through 2020, cumulating to 1.2 percent through that year, with a range of uncertainty around this central scenario. Due to the temporary nature of some of its provisions, the tax policy package is projected to lower growth for a few years from 2022 onwards. The effects of the package on output in the United States and its trading partners contribute about half of the cumulative revision to global growth over 2018-19.
Source: IMF
All-Night ETF Trading Arrives for TD Ameritrade Customers
The second-biggest discount broker now lets customers buy and sell 12 U.S. exchange-traded funds 24 hours a day on weekdays. Clients in Asia will be among the beneficiaries, gaining the ability to trade U.S. products during their daylight hours. But Americans wanting to key off late-breaking news can participate, too.
Source: Bloomberg
DTCC Outlines Vision for Modernizing U.S. Equity Market Structure
Following the successful transition from trade date-plus-three days (T+3) to trade date-plus-two days (T+2) settlement last year, one of the last remaining exposures in the settlement system today is time. Time increases the risk of an unpredictable event that could significantly affect the transfer of cash or ownership of securities from the point of execution through settlement.
Source: Depository Trust & Clearing Corporation (DTCC)
Distributed ledgers (DL) use independent computers---referred to as nodes---to record, share and synchronize transactions in their respective electronic ledgers, instead of keeping data centralized as in a traditional ledger.
January 23, 2018--Global economic activity continues to firm up. Global output is estimated to have grown by 3.7 percent in 2017, which is 0.1 percentage point faster than projected in the fall and 1⁄2 percentage point higher than in 2016. The pickup in growth has been broad based, with notable upside surprises in Europe and Asia. Global growth forecasts for 2018 and 2019 have been revised upward by 0.2 percentage point to 3.9 percent.
January 22, 2018--Asian clients of TD Ameritrade can trade during their day
List of equities that can be traded after-hours to grow
Stock traders who want to pull all-nighters can now do so through TD Ameritrade Holding Corp.
January 22, 2018--January 22, 2018--Looking beyond T+2, DTCC examines ways to optimize and accelerate securities settlement to free up liquidity, reduce risk, and improve straight-through processing
The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced its vision for the evolution of the U.S. equities market structure, unveiling a series of proposals to provide seamless access to new shortened settlement processing options, both pre-and post-trade.
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