Global ETF News Older than One Year
Setting the standard for a safer, more trusted financial services sector
Report identifies need for voluntary standards within Financial Services with majority of professionals in sector calling for more voluntary standards
November 26, 2013-- The financial services industry is failing to adopt voluntary standards crucial to rebuilding trust in banking, despite overwhelming support from those working in the sector.
Backing Market Forces, a report jointly commissioned by BSI, the UK National Standards Body, and the Chartered Institute for Securities & Investment (CISI), the professional body for securities and investment practitioners, argues that adopting voluntary standards, alongside regulation, could provide a 'third way' between self-regulation and over regulation from government.
view the report- Backing Market Forces
Source: BIS
China seeks closer ties with France through yuan markets
November 26, 2013--Senior officials of China and France have agreed to promote the development of the offshore yuan market in Paris and seek closer bilateral economic relations.
The agreement was noted in a joint statement after the First China-France High-Level Economic and Financial Dialogue in Beijing, held on Tuesday.
Vice-Premier Ma Kai said at the dialogue that China will consider supporting the offshore yuan market in the French capital through the renminbi qualified foreign institutional investor mechanism "at the appropriate time".
Source: China Daily
As Greece Joins Emerging Markets Index, Some are Wary
November 26, 2013--Wednesday marks Greece's return to a widely tracked emerging-markets stock index after a 12-year absence, but some fund managers aren't enthused.
Many investors who specialize in developing economies say they don't intend to invest in Greece's stock market the minute Greece officially becomes part of the MSCI Emerging Markets Index, to which about $1.4 trillion in portfolios are benchmarked. In June, MSCI said it would again label Greece as an emerging market. Greece had been deemed a developed market since May 2001, shortly after it adopted the euro.
Source: Wall Street Journal
Gold price in a range of currencies since December 1978 XLS version
November 25, 2013--Excel file of gold price charts and data-Updated weekly in 19 curriences: US dollar, Euro, Japanese yen, Pound sterling, Canadian dollar, Swiss franc, Indian rupee,
Chinese renmimbi, Turkish lira, Saudi riyal, Indonesian rupiah, UAE dirham, Thai baht, Vietnamese dong, Egyptian pound, Korean won, Russian ruble, South African rand, Australian dollar
Source: World Gold Council
DTCC Limit Monitoring To Provide an Early Warning System to Help Indentify Unusual Trading Activity and Trading Limit Breaches
November 25, 2013--The Depository Trust & Clearing Corporation (DTCC) announced that National Securities Clearing Corporation (NSCC) has filed a proposed rule change with the Securities and Exchange Commission (SEC) to provide its members with a new tool designed to serve as an early warning system that alerts those firms to trading activity that is nearing defined trading limits.
Subject to regulatory approval of the filing, the tool will enable firms to effectively manage potential risk exposure for both their own accounts and their clients’ accounts for the trading in equities, corporate and municipal bonds, and unit investment trust instruments.
Source: DTCC
NASDAQ OMX Announces Leadership Transition in U.S. Transaction Services Business
Eric W. Noll to Join ConvergEx Group, LLC as President
November 25, 2013--NASDAQ OMX today announced that Eric W. Noll, Executive Vice President, Transaction Services U.S. and U.K., will be leaving the company to accept an offer to become President and the next Chief Executive Officer of ConvergEx Group.
NASDAQ OMX will assess internal and external candidates for Mr. Noll's replacement' and plans to fill that role near the end of the first quarter 2014.
Source: NASDAQ OMX
Mapping Global Islamic Development-report
November 25, 2013--The Islamic Finance Development Report is an annual barometer of the health and development of the Islamic finance industry worldwide. The report is based on the ICD Thomson Reuters Islamic Finance Development Indicator, the first global Indicator focused on the development of the Islamic finance industry.
view the Mapping Global Islamic Development report
Source: Zawya
Islamic food, lifestyle market to hit $1.6 trillion
November 25, 2013--Muslim consumer expenditure globally on food and lifestyle sectors,, estimated at $1.62 trillion in 2012, is expected to reach $2.47 trillion by 2018, a report said.
This forms the potential core market for halal food and lifestyle sectors, said The State of the Global Islamic Economy 2013 Report.
Source: Trade Arabia
ETFS Precious Metals Weekly-Precious Metals Sell-Off Excessive as Markets Yet Again Speculate on Early Fed Tapering
November 25, 2013--Fed tapering speculation knocks metals prices down to long-term attractive accumulation levels. Precious metals prices fell across-the-board last week as markets focused on the possibility that Fed tapering of bond buying may occur sooner than expected. Minutes released last week from the recent
FOMC meeting noted that they may reduce the $85 billion in monthly bond
purchases "in coming months" if the economy continues to improve.
James Bullard, the Federal Reserve Bank of St. Louis' President said that a cut in bond buying is "on the table" for as soon as next month. Silver dipped back below US$20/oz. as gold flirted with $1,200/oz. support. Even platinum and palladium prices fell. In our view the sell-off has been excessive as we expect that a Yellen led Fed will continue to err towards caution on reeling back stimulus given her continued stated concerns that the weak labour market participation rate (and its falsely positive influence on the headline unemployment rate) and the focus she shares with Ben Bernanke about avoiding a debt-deflation cycle at all costs.
Platinum and palladium prices are trading well below their estimated marginal costs of production and both gold and silver and now back near their all-in production costs. Tactically gold and silver prices will likely continue to move on growth data and perceptions of Fed policy. For longer term investors wishing to hedge against inflation, currency debasement and financial instability risks, we believe precious metals prices are now back at attractive accumulation levels.
Source: ETF Securities
Terrapin Asset Management LLC Announces Acquisition of Hennessee Group's Hedge Fund Advisory Business
November 25, 2013--Terrapin Asset Management, LLC ("Terrapin") publicly announced today that it acquired the hedge fund and private equity fund advisory business of Hennessee Group LLC ("Hennessee").
The transaction was initiated at the end of 2012, but was not fully consummated until mid-year 2013 as the firms provided clients with the flexibility and time necessary to transfer their accounts. Terrapin achieved 100% client retention. Terms of the deal have not been disclosed. Terrapin and Hennessee maintain independent operations and will remain unaffiliated.
Source: Terrapin Asset Management
