Global ETF News Older than One Year
IOSCO surveys effects of storage warehouses on price formation in commodity derivatives markets
August 1, 2014--The International Organization of Securities Commissions (IOSCO) has given its Committee 7 on Commodity Derivatives a mandate to research the potential effects
The first stage in the Committee's work has been to develop a questionnaire as a way to gather information to inform its research.
IOSCO is asking its members to respond to the questionnaire and to encourage other relevant entities in their jurisdictions (storage and market infrastructure providers, market participants and end users) to do so as well. There are no restrictions on who can answer the questionnaire
Source: IOSCO
Average daily volume of 6.3 million contracts at Eurex Group in July
August 1, 2014--In July 2014, the international derivatives markets of Eurex Group recorded an average daily volume of 6.3 million contracts (July 2013: 6.8 million). Of those, 4.2 million were Eurex Exchange contracts (July 2013: 4.6 million), and 2.1 million contracts (July 2013: 2.2 million) were traded at the U.S.-based International Securities Exchange (ISE). In total, 97.0 million contracts were traded at Eurex Exchange and 47.1 million at ISE.
At Eurex Exchange, the equity index derivatives segment totaled 48.7 million contracts (July 2013: 44.8 million). The single largest contract was the future on the EURO STOXX 50(R) Index with 20.0 million contracts. The options on this blue chip index totaled 17.5 million contracts. Futures on the DAX index recorded 2.1 million contracts while the DAX options reached another 2.9 million contracts. The Eurex KOSPI Product recorded 1.8 million contracts. Around 21,000 contracts were traded in TAIEX products which were launched in May 2014.
Source:Eurex
Barclays tops FTSE 100 after upbeat results
July 30, 2014--Shares of Barclays PLC climbed to the top of the U.K. benchmark stock index on Wednesday, standing out in an otherwise downbeat market where the trading mood was subdued after a new round of sanctions on Russia.
The FTSE 100 index lost 0.5% to close at 6,773.44, after posting a 0.3% gain on Tuesday.
Source: MarketWatch
Banks aim to have new Gold Fix operational by year-end
July 29, 2014--The new gold benchmark that will replace the near century-old London Gold Fix should be operational by the end of the year
according to the banks that run the twice daily auction process...
Source: FT.com
Deutsche Bank's fixed income outperforms rivals
July 29, 2014--Deutsche Bank outperformed its Wall Street rivals in fixed income trading, defying predictions of a slump in the market, though net income fell more than expected in the second quarter.
The Frankfurt-based lender said revenues in its debt and foreign exchange trading arm were flat compared with the same time last year, at €1.8bn. The figures were the latest in a round of second-quarter debt trading results that have beaten analysts’ expectations in a market that is still struggling with low volatility.
Source: FT.com
IMF Survey: Changing Growth Trends Carry New Global Spillovers
With changing world environment, global spillovers enter a new phase
Advanced countries recovering, emerging markets see broad-based slowdown
Need for stronger policy actions at national and global levels
July 29, 2014---As the global economy shifts from crisis to recovery mode, the changing growth patterns-with advanced economies generally recovering and emerging markets slowing on a broad basis-carry new spillover risks, says the IMF staff.
he 2014 Spillover Report, which assesses the impact of policy actions in one country on others (spillovers) and the possible consequences for the original spillover source economies themselves (spillbacks), analyzes the implications of two key trends.
view the IMF 2014 Spillover Report
Source: IMF
ETF Securities-Precious Metals Weekly-Precious Metals Pare some 2014 Gains as the Foundation Strengthens
July 28, 2014--Gold gives back some more 2014 gains but the foundation remains solid. Stronger economic data and a strengthening US dollar weighed on precious metals prices last week
offsetting some of the geopolitical premium. Gold declined 1.0% returning below US$1,300/oz. and silver kept true to its 'leveraged gold' tendency declining 2.3%, but
remaining above the much watched US $20/oz. level.
Also weighing on gold prices was the release of H1 data on gold demand in China indicating a 19% decline from the record 2013 pace. In 2013, gold prices declined sharply which spurred record physical demand, notably in China, overtaking India as the world’s largest gold user. China and India alone absorbed about 70% of total global mining supply in 2013, up from about 32% in 2006. Gold prices have recovered in 2014, curtailing some physical demand, but the underlying foundation for increasing demand from emerging markets is growing, alongside rapidly growing per capita incomes. A key factor supporting precious metals prices this year has been the widely unanticipated decline in global interest rates and real yields. Gold ETP inflows have been strong this month as investors seek its diversification benefits. Escalating geopolitical events are likely to keep a bid under gold but sustained low real yields are more significant for the improving foundation few expected in 2014.
Source: ETF Securities
IMF Working paper-Real and Financial Vulnerabilities from Crossborder Banking Linkages
July 25, 2014--Summary: This paper looks at the vulnerabilities stemming from banking sector linkages between countries and their macroeconomic effects. It finds that credit risks (from a banking system's claims on other countries) and funding risks (from a banking system's liabilities to another) have declined over the past five years.
It also finds that funding vulnerabilities have real effects. During normal times, funding vulnerabilities are associated with significant positive GDP growth surprises. During crisis times, funding vulnerabilities are associated with significant negative GDP growth surprises. The results tell us that policymakers should pay more attention to understanding crossborder funding risks.
view the IMF Working paper-Real and Financial Vulnerabilities from Crossborder Banking Linkages
Source: IMF
Deutsche Boerse holds onto options market ISE for now
Deutsche Boerse focused on organic growth
Would look at M&A opportunities
No share buyback planned (Adds CFO comment on ISE unit)
July 25, 2014--Deutsche Boerse is open to possible acquisitions and has not hired banks to sell its International Securities Exchange (ISE) unit, the Frankfurt-based exchange operator's finance chief said on Friday.
Sources familiar with Deutsche Boerse told Reuters last month that the group was considering selling ISE, but that valuation levels were currently not attractive enough to pursue a sale in the short run.
Source: Reuters
Legg Mason to Buy International Manager Martin Currie
July 24, 2014--Legg Mason Inc. (LM), the money manager that's struggled with more than five years of net redemptions. agreed to buy Martin Currie to expand into active international stock funds. Terms weren't disclosed.
Martin Currie, founded in 1881 as an accountancy partnership, will add $9.8 billion in assets, Baltimore-based Legg Mason said today in a statement. The acquisition of Edinburgh-based Martin Currie, which will operate as a separate affiliate, is set to close in the fourth quarter.
Source: Bloomberg
