Global ETF News Older than One Year
State Street Global Exchange Expands Global Futures Capabilities to Help Clients Access Futures Directly and Manage Complexity
Advanced Algorithms, Analytics and Consulting Offer Actionable Insights for Buy-Side Traders
March 5, 2014--
March 5, 2014--State Street Global Exchange today announced the expansion of its futures commission merchant (FCM) solution to include futures execution. State Street's Futures Commission Merchant(FCM) solution includes support across the entire trade lifecycle through execution, clearing, collateral management,
valuation and risk and analytics for OTC derivatives and futures.
The futures execution capabilities include a global team of experienced traders, direct market access (DMA) and the use of State Street algorithms and analytics with seamless integration into existing workflows. The execution desk provides a global rolling order book, cross-product coverage from a coordinated sales team and access to more than 30 global exchanges and third-party platforms. Execution consulting and cross-asset trade flow and analysis, trade ideas and opportunities, market commentary, analytics and proprietary research are offered by the execution desk and through State Street Associates, State Street Global Exchange's leading partnership with academia.
Source: State Street Corporation
IMF Working paper-Tracking Global Demand for Emerging Market Sovereign Debt
March 5, 2014--Summary: This paper proposes an approach to track US$1 trillion of emerging market government debt held by foreign investors in local and hard currency,based on a similar approach that was used for advanced economies (Arslanalp and Tsuda,2012). The estimates are constructed on a quarterly basis from 2004 to mid-2013 and are available along with the paper in an online dataset.
We estimate that about half a trillion dollars of foreign flows went into emerging market government debt during 2010-12,mostly coming from foreign asset managers. Foreign central bank holdings have risen as well,but remain concentrated in a few countries: Brazil,China,Indonesia,Poland,Malaysia,Mexico,and South Africa. We also find that foreign investor flows to emerging markets were less differentiated during 2010-12 against the background of near-zero interest rates in advanced economies. The paper extends some of the indicators proposed in our earlier paper to show how the investor base data can be used to assess countries' sensitivity to external funding shocks and to track foreign investors' exposures to different markets within a global benchmark portfolio.
view the IMF Working paper-Tracking Global Demand for Emerging Market Sovereign Debt
Source: IMF
BATS Global Markets February Highlights-New Market Share Records In US, Spain,Trade Reporting; Merger Integration Process Moving Forward
U.S. Equities Market Share Totals 20.4%, BATS Chi-X Europe Posts Another New Record in Spain
March 4, 2014--BATS Global Markets (BATS) today reported February volume, market share, and monthly highlights:
BATS reported 20.4% U.S. equities market share in February, a new company record in the first month with BATS and Direct Edge combined under the BATS Global Markets brand.
Following the close of its merger with Direct Edge on January 31, BATS announced the combined executive team including CEO Joe Ratterman and President William O'Brien.
BATS also announced its data center strategy and integration timeline for the new combined organization. BATS selected Equinix's NY5 data center in Secaucus, N.J., as its primary data center and future home to all of the BATS U.S. Exchanges. The migration of the Direct Edge Exchanges- EDGA and EDGX- will take place in January 2015, and the BATS Exchanges-BZX and BYX -will move in the second quarter of 2015.
Source: BATS
Growing the Green Bond Market to Finance a Cleaner, Resilient World
March 4, 2014--Green bonds give investors an innovative way of supporting clean energy,mass transit,and other low-carbon projects that can help countries adapt to and mitigate climate change.
The World Bank has mobilized over $4.5 billion through 60 green bond transactions in 17 currencies,and the IFC has issued $3.4 billion in green bonds,including two $1 billion issuances in 2013.
New Green Bond Principles and a call to double the market by September are helping expand the young market and attracting a new set of investors.
The growing risks brought on by climate change are raising development costs for the world's fast-growing cities and developing countries. Government funds alone will never be enough to build resilience to extreme weather and deal with the threats to energy, water, and food supplies -the private sector and institutional investors must be involved.
Source: World Bank
Markit Adds Social Media Indicators to Research Signals Suite
In a partnership with Social Market Analytics, users of the research platform will receive more investor sentiment signals.
March 4, 2014--Markit, the financial services IT provider, announced a partnership with Social Market Analytics (SMA) to provide new signals of investor sentiment from social media inside the Markit Research Signals suite.
"The social media indicators enhance the Markit Research Signals suite of more than 400 investment factors which can be used by customers to evaluate the expected performance of stocks-based sentiment indicators," according to a Markit press statement.
Source: Securities Technology Monitor
SSgA rollouts pooling smart beta strategies
March 3, 2014--State Street Global Advisors is planning to roll out a series of exchange traded funds that combine multiple smart-beta strategies into a single index product.
t would be the latest ETF provider to roll out so-called multi-factor strategy funds, which combine typical smart-beta factors such as momentum, volatility and size into a single product.
Source: FT.com
Belief in easy money boosts active funds
March 3, 2014--Active management favoured despite outperformance of passive funds
The decline and fall of Mt Gox, the Tokyo-based Bitcoin exchange, is a cautionary tale for our time.
It speaks to the fear and greed narrative that seems to guide much investment thought and action and leads people to suspend disbelief in the hopes of getting rich quick..
Source: FT.com
Average daily volume of 7.9 million contracts at Eurex Group in February
March 3, 2014--In February 2014, the international derivatives markets of Eurex Group recorded an average daily volume of 7.9 million contracts (Feb 2013: 8.7 million). Of those, 5.4 million were Eurex Exchange contracts (Feb 2013: 6.3 million), and 2.6 million contracts were traded at the U.S.-based International Securities Exchange (ISE) (Feb 2013: 2.7 million).
In total, 157.4 million contracts were traded, thereof 108.9 million at Eurex Exchange and 48.5 million at the ISE.
Eurex Exchange recorded in its equity index segment, the largest product segment, 50.7 million contracts compared with 56.9 million contracts in February 2013. Futures on the EURO STOXX 50(R) Index stood at 19.4 million contracts while 20.2 million options on this index were traded. Futures on the DAX totaled 2.1 million contracts while the DAX options reached another 3.0 million contracts. The Eurex KOSPI product reached 2.4 million contracts.
Source: Eurex
ETF Securities-Precious Metals Weekly-Precious Metals in Demand as Political and Economic Risks Heat Up
With Russia rattling its sabre in the Ukraine, macro imbalances in some key emerging market economies
still unresolved and continued uncertainty about the strength of US, Europe and Japan recoveries, demand for perceived safe havens such as gold should remain strong in our
view.
Platinum price rallies as South Africa strike enters 6th week. The platinum spot price
rose 2.3% last week and is now up 7.2% year-to-date. Consensus estimates of 6-8 weeks of
metal supply held by the producers may have weighed on price performance earlier this
year, but if the labour impasse in South Africa (over 70% of platinum supply) is not resolved
soon we could see further price upside on concerns of a supply squeeze. The palladium
price has also increased, though to a lesser degree, as around 40% of palladium supply
comes from South Africa and investors continue to bet on strong China and US demand for
palladium for use in gasoline autocatalysts. US and Japanese car sales data out this week
could be a further catalyst for platinum group metals this week.
Source: ETF Securities
DECPG Weekly Brief-February 28, 2014
A fourth quarter acceleration in capital goods orders in both developing and
high-income countries bodes well for future growth prospects. Price-to-earnings ratios of equities in developing countries have remained depressed since 2011, partly reflecting slower growth, weaker commodity prices, and increased risk perceptions. Notwithstanding weaker Chinese growth, GDP growth in most developing
countries picked up in Q4 2013. The annualized pace of GDP growth in
developing countries (excluding China) picked up from 4.8 percent to 5.6
percent in 2013Q4. In China, growth slowed from an annualized 9.3 percent to 7
percent amid rising uncertainties about investment and corporate debt and the
waning effects of an earlier mini-stimulus. Weak domestic demand (partly
reflecting policy tightening) resulted in slowing industrial activity in India and
disappointing fourth quarter GDP growth in Mexico. By contrast, growth in East
Asian countries excluding China continued to strengthen, supported by
acceleration in exports, as well as robust domestic demand in Indonesia, Malaysia
and the Philippines. Similarly, the Europe and Central Asia region benefited from
strengthening Euro Area demand. South Africa’s growth accelerated in Q4 as the
effects of earlier strikes on domestic activity waned. Growth in high-income
countries remained stable at about 2 percent, buoyed by robust private demand,
and a pickup in exports in Germany, France and the United States. Growth in Q4
in Japan was a modest 1 percent as the effect of stimulus measures waned and
the country prepares for structural reform.
Source: World Bank
March 3, 2014--Gold and defensive assets in demand as political and economic risks heat up.
February continued the strong run for precious metals, with gold, silver, platinum and palladium all seeing healthy gains. So far this year all of the metals have done well, with
gold benefiting from US growth concerns and emerging market currency jitters, silver acting increasingly like a leveraged play on gold and platinum and palladium prices rising on a
growing supply-demand imbalances as South Africa labour strife continues.
February 28, 2014--GDP growth moderated in China, but firmed among other developing countries in the final quarter of 2013, and
remained steady in high income countries.
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