Global ETF News Older than One Year
Shocked Bitcoin backers reel after raid
October 3, 2013--"Sit him down at his computer and make him do it...Give him the note, let him use his computer to send the coins back, and then kill him ...Considering his arrest, I have to assume he will sing."
For the libertarians who championed Silk Road as a free market for drugs and other goods that governments have no business banning, and who back Bitcoin, its currency of choice, the indictment of the website's founder has been a shock.
Source: FT.com
Nasdaq and LSE speculation lingers
October 3, 2013--Speculation linking Nasdaq OMX in a tie-up with the London Stock Exchange Group revives one of the industry's longest-standing bid stories.
Bob Greifeld, chief executive of Nasdaq, went hostile seven years ago, with a £12.43 per share offer for the 69 per cent of LSE shares it didn't own. The LSE shareholders rebuffed the approach, and Nasdaq later sold its stake at a profit...
Source: FT.com
IntercontinentalExchange Update on Regulatory Approvals for NYSE Euronext Acquisition
October 2, 2013--IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, provided the following update in regard to its acquisition of NYSE Euronext.
IntercontinentalExchange (ICE) and NYSE Euronext (NYSE) are pleased that the Chairmen's Committee of Euronext Regulators have issued a letter to ICE and NYSE Euronext indicating that they are "not minded to object" to the proposed merger between ICE and NYSE Euronext. With this important milestone achieved, ICE and NYSE Euronext now await final approvals to be issued by national authorities and regulatory bodies in each of the relevant European jurisdictions in order to complete the transaction.
Source: IntercontinentalExchange (NYSE: ICE)
Infographic: Carbon Markets of the World
October 2, 2013--The World Bank has published a Infographic: Carbon Markets of the World
Source: World Bank
FTSE Launches GDP Index Series
New series directly links country weights to the IMF's individual country five-year forecast GDP
Underlying constituents members of the FTSE All-World Index Series
Adds to FTSE's growing number of innovative alternatively weighted indices
October 2, 2013--FTSE Group ("FTSE"), the global index provider, today announced the launch of the FTSE GDP Weighted Index Series.
Calculated on an end-of-day basis, the indices are designed to reflect the performance of indices where country weightings are proportionate to the IMF's five year purchasing power parity forecast GDP for each country.
The FTSE GDP Weighted Index Series is reviewed annually in March and comprises the constituents of the corresponding underlying FTSE All-World Index Series in March.
Source: FTSE
The Options Industry Council Announces September Options Volume Down 4 Percent
October 1, 2013--The Options Industry Council (OIC) announced today that 315,911,302 total options contracts traded in September, which is 4.16 percent less than last September when 329,627,631 contracts were traded.
Year-to-date volume stood at 3,074,874,727 contracts, 1.43 percent more than September of last year when 3,031,485,451 contracts were traded. Average daily volume for the month was 15,795,565 contracts, 8.95 percent less than last September's 17,348,823 contracts.
Source: Options Industry Council (OIC)
CBOE Introduces Short-Term Volatility Index-VXST Measures Short-Term Volatility, Complements VIX-VXST Weeklys Futures And Options To Follow
CBOE Introduces Short-Term Volatility Index
VXST Measures Short-Term Volatility, Complements VIX
VXST Weeklys Futures and Options to Follow
October 1, 2013--Chicago Board Options Exchange, Incorporated(R) (CBOE(R)) today announced at the CBOE Risk Management Conference Europe in Sintra, Portugal that it has created a new benchmark volatility index -the CBOE S&P 500 Short-Term Volatility Index (ticker symbol: VXSTSM).
CBOE began disseminating values for the new Short-Term Volatility Index today.
Like CBOE's flagship VIX(R) Index, VXST reflects investors' consensus view of expected stock market volatility. Whereas VIX has a 30-day horizon, VXST looks out just nine days, making it particularly responsive to changes in short-term volatility triggered by market events, such as earnings, government reports and Fed announcements.
Source: CBOE
Commodity Supercycle Slows Down in 2012
New Worldwatch Institute study examines the slowdown in the global commodities market
October 1, 2013--Global commodity prices dropped by 6 percent in 2012, a marked change from the dizzying growth during the "commodities supercycle" of 2002-12, when prices surged an average of 9.5 percent a year, or 150 percent over the 10--year period.
This change of pace is largely attributed to China's shift to less commodity-intensive growth. Yet while prices declined overall in 2012, some commodity categories-energy, food, and precious metals-continued their decade-long trend of price increases
The commodities market consists of various raw materials and agricultural products with fluctuating value that are bought and sold in global exchanges. This includes agricultural products, such as corn, wheat, soybeans, and cotton; energy sources, such as crude oil and natural gas; metals used in construction, such as copper and aluminum; and precious metals that are often used for financial security, such as gold, silver, and platinum.
Source: World Watch Institute
EM Suffer on Worries over QE Tapering
October 1, 2013--China
Macro indicators were better than expected.
The Chinese market was very volatile in August, but managed to sustain its upward trend.
While the Chinese market outperformed emerging markets overall, China still posted net outflows from global investors.
Most sectors recorded positive returns, led by materials. On the other hand, underperformers included utilities and health care.
India
India's economy sees a slowing growth.
The MSCI India Index fell sharply in August. Since talk of QE tapering in the US began, chronic problems in the Indian macro economy, including the depreciating rupee, widening current account and fiscal deficits, and rising inflation, have led to increased concern.
The Indian rupee has been among the worst performing currencies of late, depreciating nearly 20% in the last three months; however, losses were pared toward the end of August as the RBI announced a separate foreign exchange window for state-owned oil companies, its latest measure to reduce volatility in the currency market.
ASEAN
Philippines remain the most favorable.
Indonesia's economy continues to suffer from a widening current account deficit and depreciating currency. In the second quarter, the current account deficit expanded to 4.4% of GDP, the highest level since the Asian crisis in 1997.
In Thailand, GDP growth declined to 2.8% year-over-year in the second quarter on the back of flat export growth, slowing consumer spending, and waning government stimulus. Meanwhile, the consumer confidence index declined to 80.3 in July, indicating that consumers are worried about political uncertainty.
In Singapore, inflation continues to inch up on the back of higher food, housing and transportation costs. In Malaysia, inflation also continues on an upward trend, rising to 2.0% year-over-year in July. Meanwhile, second quarter GDP growth came in at 4.3%, up slightly from 4.1% in the first quarter.
Brazil
Brazil's notable growth led to revise its 2013 output upward.
In August, while the local Bovespa index rose 3.7% in local currency terms, the MSCI Brazil Index fell 2.1% in US currency terms as the Brazilian real depreciated sharply against the US dollar.
Profit-taking in anticipation of the US QE tapering has resulted in significant pressure on emerging market currencies, including the real, with the unwinding of cross-border carry trades playing a significant role.
EMEA
Russia outperformed EM overall.
The Russian market outperformed emerging markets overall, due to spiking oil prices caused by rising tensions in the Middle East. Additionally, as Russia remains at a nearly record dis-count to emerging market equities, investors sold off other markets trading at more expensive multiples.
Eastern Europe overall performed in line with emerging markets; however, performance in the region varied.
Poland and the Czech Republic posted positive performance as greater optimism for a European economic recovery lifted both markets.
Source: Mirae Asset Financial Group
IMF's 2013 Annual Report: Promoting a More Secure and Stable Global Economy
October 1, 2013--The global economy is in better shape, but the road to a robust and comprehensive recovery remains bumpy, says IMF Managing Director Christine Lagarde in an introduction to the institution's Annual Report, published today.
The report highlights the IMF's work between May 1, 2012, and April 30, 2013-financial year 2013 for the institution—with an emphasis on the core areas of IMF responsibility: providing IMF member countries with financing for demonstrated needs, assessing their economic and financial policies, and developing their technical capacities.
view the IMF Annual Report 2013: Promoting a More Secure and Stable Global Economy
Source: IMF
