Global ETF News Older than One Year
ESMA and SFC to exchange information on derivative contracts held in trade repositories
November 26, 2015--The European Securities and Markets Authority (ESMA) and the Securities and Futures Commission (SFC) of Hong Kong have concluded a Memorandum of Understanding (MoU) that will allow the exchange of information on derivative contracts held in trade repositories.
This MoU allows ESMA and SFC to have indirect access to trade repositories established in the European Union and Hong Kong respectively. It became effective on 19 November 2015.
Source: ESMA
The Canadian Securities Exchange Signs Memorandum of Understanding with Taipei Exchange
November 26, 2015--The Canadian Securities Exchange (CSE) announced today that it has entered into a Memorandum of Understanding (MOU) with the Taipei Exchange (TPEx).
The agreement is designed to further development of securities markets in Canada and Taiwan, encourage the sharing of information, and foster new opportunities for the exchanges and their respective issuers. The MOU was signed on Wednesday, November 25, at the Taipei Exchange.
Source: Canadian Securities Exchange (CSE)
Infographic-Mapped: The World's Fastest Growing Cities
November 26, 2015--The single most important demographic trend over the last century has been the rapid urbanization of the world. Just as recently as 1950, less than 30% of the total population lived in cities.
By the year 2030? It is expected that 60% of the world will be urbanized.
Source:visualcapitalist.com
State Street Global Advisors-Weekly Market Report
November 25, 2015--This Week's Highlights
Economies
Economic growth is revised higher in the US. Manufacturing improves slightly in the eurozone. Consumer confidence holds up in France. Producer price inflation remains benign in Japan.
Markets
Stocks end little changed. Bond yields slip slightly ahead of likely ECB easing. The dollar moves slightly higher against Europe. Oil bounces. Gold continues to head lower.
Next Week's Highlights
Spotlight
The ECB may expand its QE program but the Bank of Canada and the Reserve Bank of Australia will stand pat. The economic expansion should continue in the UK. Q3 GDP growth will
improve in Canada but may soften in Australia.
Source: spdru.com
Good vibrations: The seismology of market volatility White paper: Volatility forecasts for DAX, EURO STOXX 50 and Euro-Bund futures
November 25, 2015--The value of forecasting volatility
Volatility is key to both alpha generation and trading performance measurement and is a crucial input for trading algorithms and risk methodologies.
The capacity to forecast size and direction of volatility is therefore enormously valuable. Deutsche Börse's new analytic, the > Intraday Volatility Forecast, aims to forecast the volatility for the DAX, EURO STOXX 50 and Euro-Bund futures.
Source: Deutsche Börse
Smart Beta equity ETFs/ETPs listed globally have gathered 53.7 billion US dollars in net new assets in the first 10 months of 2015, according to ETFGI
November 25, 2015 Smart Beta equity ETFs/ETPs listed globally gathered US$ 3.0 billion in new assets in October and US$ 53.7 billion in the first 10 months of 2015.
There were 764 smart beta equity ETFs/ETPs, with 1,336 listings, assets of US$399 Bn, from 106 providers listed on 31 exchanges in 27 countries, according to ETFGI's new report the Global Smart Beta ETF and ETP Insights report for October 2015.
Source: ETFGI
OFR-Safe Assets as Commodity Money
November 25, 2015--This paper examines the systemic implications of the supply of liquid safe assets, such as Treasury bills. The paper explores how liquid safe assets facilitate the trades of risky assets.
The paper finds that financial markets may be remarkably resilient to changes in the stock of liquid assets. (Working Paper no. 2015-23)
view the Safe Assets as Commodity Money working paper
Source: OFR (Office of Financial Research)
OFR-Safe Assets as Commodity Money
November 25, 2015--This paper examines the systemic implications of the supply of liquid safe assets, such as Treasury bills. The paper explores how liquid safe assets facilitate the trades of risky assets.
The paper finds that financial markets may be remarkably resilient to changes in the stock of liquid assets. (Working Paper no. 2015-23)
view the Safe Assets as Commodity Money working paper
Source: OFR (Office of Financial Research)
DECPG Global Monthly-November 2015
November 25, 2015--Key highlights in the latest issue include:
Global growth in Q3 is currently estimated at about 2.4 percent (q-o-q, saar), little changed from previous quarters.
Growth in the U.S. and the Euro Area slowed in Q3, while Japan's economy contracted.
Despite signs of stabilization, emerging market currencies remain under pressure in a context of weakening capital flows.
The implied probability of U.S. policy interest rates being raised in December rose sharply to over 70 percent.
Commodity prices remain soft.
Special Focus: The Risk and Cost of Sudden Stops. Capital inflows to emerging and frontier economies decelerated significantly this year, driven by a combination of unfavorable global "push" factors and domestic "pull" factors. In a financial market stress situation, the risk of sudden stops would be particularly high in countries with weakening fundamentals and lingering vulnerabilities. The short-run cost of sudden stops can be substantial. In the two years following such events, average GDP and investment growth declined in affected countries by 7 and 21 percentage points, respectively.
Despite decelerating capital flows and currency pressures in 2015, there has thus far been no sign of unusual stress or of a credit crunch in large emerging markets.
Source: World Bank
Bad loans at Europe's banks still double U.S. level-regulator
November 24, 2015--The scale of bad loans held by banks in the European Union is "a major concern" and more than double the level in the United States, despite an improvement in recent years, the EU's banking regulator said on Tuesday.
Non-performing loans (NPL) across Europe's major banks averaged 5.6 percent at the end of June, down from 6.1 percent at the start of the year
Source: Reuters
