Global ETF News Older than One Year
SSgA-Quarterly ETF Industry Guide. is now available
Report covers 1,490 funds across 5 asset classes and multiple categories
August 28, 2013--The SSgA ETF Industry Guide is now available. This popular piece now includes more specific and intuitive fund classifications.
The guide still offers the full lineup of virtually every ETF provider, with key facts about each fund, updated quarterly:
Fund name, Fund category, Ticker, Expense ratio, Net assets
and Inception date
view the
Source: SSgA
FSB-Consultative Document: Assessment Methodology for the Key Atttributes of Effective Resolution Regimes for Financial Institutions
As an international standard, G20 jurisdictions have publicly committed to implement them.
A set of criteria to assess jurisdictions' compliance with the Key Attributes
Compliance with the international standard will be monitored and assessed, supported by a set of assessment criteria. The Financial Stability Board (FSB) is therefore today launching a public consultation on an Assessment Methodology for the Key Attributes. The FSB developed the draft methodology with the involvement of the IMF and the World Bank and the standard-setting bodies. As well as facilitating objective and consistent assessments of jurisdictions' compliance with the new international standard, the methodology can also assist jurisdictions in their legislative reforms to implement the Key Attributes. The methodology consists of a set of assessment criteria for each Key Attribute and also includes examples and explanations to guide the interpretation of the Key Attributes.
Source: FSB (Financial Stability Board)
IMF Working paper-Collateral and Monetary Policy
Some central banks are now a major player in the collateral markets. Analogous to a coiled spring, the larger the quantitative easing (QE) efforts, the longer the central banks will impact the collateral market and associated repo rate. This may have monetary policy and financial stability implications since the repo rates map the financial landscape that straddles the bank/nonbank nexus. view the IMF Working paper-Collateral and Monetary Policy
Source: IMF
STOXX Changes Composition Of Benchmark Indices
As announced previously, the index universe for the STOXX Global 1800 Index and all related sub and sector indices will be changed to cover those countries which are classified as developed markets as defined by the STOXX Emerging and Developed Markets Country Classification. As a result companies listed in the Czech Republic will become eligible for inclusion in these indices, while Chinese Red Chips and companies listed in Iceland will be excluded from the universe from this review on. Furthermore, Croatia is being added to the index universe of the STOXX EU Enlarged Index, since the country joined the European Union on July 1, 2013.
Source: STOXX
STOXX Changes Composition Of Benchmark Indices
As announced previously, the index universe for the STOXX Global 1800 Index and all related sub and
sector indices will be changed to cover
those countries which are classified as developed markets as defined by the
STOXX Emerging and Developed Markets Country Classification. As a result companies listed in the Czech Republic will become eligible for inclusion in these indices, while Chinese Red Chips
and companies listed in Iceland
will be excluded from the universe
from this review on.
Furthermore, Croatia is being added to the index universe of the STOXX EU Enlarged Index, since the country joined the European Union on July 1, 2013.
Source: STOXX
FIA Releases Futures Volatility Study
The study found that prices in these 15 markets moved through cycles of high and low volatility as well as numerous price spikes attributable to macro-economic events. The study found, however, that volatility attributable to structural factors did not change in
most of these contracts. In other words, innovations such as algorithmic and high-frequency trading do not
appear to have affect
ed the volatility of prices. view Futures Market Volatility: What Has Changed? report
Source: Futures Industry Association (FIA)
Report to G20 Leaders on monitoring implementation of Basel III regulatory reforms issued by the Basel Committee
Full, timely and consistent implementation of Basel III has been accorded high priority by the G20 Leaders. This latest report notes substantial progress with respect to:
the adoption of the Basel standards by Basel Committee member jurisdictions;
the harmonisation of capital regulations across member jurisdictions; and
the finalisation of remaining post-crisis reforms that form part of the Basel regulatory framework. view the Report to G20 Leaders on monitoring
implementation of Basel III regulatory
reforms
Source: BIS
Macroeconomic impact assessment of OTC derivatives regulatory reforms report issued by the Macroeconomic Assessment Group on Derivatives (MAGD)
In this report, the MAGD focuses on the effects of (i) mandatory central clearing of standardised OTC derivatives, (ii) margin requirements for non-centrally cleared OTC derivatives and (iii) bank capital requirements for derivatives-related exposures. In its preferred scenario, the Group found economic benefits worth 0.16% of GDP per year from avoiding financial crises. It also found economic costs of 0.04% of GDP per year from institutions passing on the expense of holding more capital and collateral to the broader economy. This results in net benefits of 0.12% of GDP per year. These are estimates of the long-run consequences of the reforms, which are expected to apply once they have been fully implemented and had their full economic effects.
view the Macroeconomic impact assessment of OTC derivatives regulatory reforms
Source: BIS
Exchange-Traded Funds Lose Faith in Emerging Markets
Exchange-traded funds have emerged as a key driver of outflows from the sector this year.
Source: Wall Street Journal
BATS Global Markets And Direct Edge Agree To Merge
Financial terms will not be disclosed for the transaction, which is expected to close in the first half of 2014, subject to regulatory approvals. Current BATS CEO Joe Ratterman will remain in the same role and current Direct Edge CEO William O'Brien will be President. Bryan Harkins of Direct Edge will join the combined company as an integral member of the senior executive team.
Source: BATS Global Markets, Inc.
August 28, 2013--Solving the "too big to fail" problem requires effective and credible resolution regimes. The Key Attributes of Effective Resolution Regimes for Financial Institutions ("Key Attributes"), which were endorsed by the G20 in November 2011, set out the responsibilities, instruments and powers that resolution regimes should have for all parts of the financial sector that could cause systemic problems.
August 28, 2013-Summary: Financial lubrication in markets is indifferent to margin posting via money or collateral; the relative price(s) of money and collateral matter.
Results of the Third Regular Quarterly Review to be Effective on September 23, 2013
August 27, 2013--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced the new composition of the STOXX Benchmark and their sub- and sector indices, among them the STOXX Europe 600 Index, STOXX North America 600 Index and STOXX Asia/Pacific 600 Index.
Regular Annual Review To Be Effective On September 23, 2013
August 27, 2013--STOXX Limited,
the market-moving provider of innovative, tradable and global index concepts, today announced
the new composition of the STOXX Benchmark and their sub-and sector indices, among them the STOXX Europe 600 Index, STOXX North America 600 Index
and STOXX Asia/Pacific 600 Index.
FIA Releases Futures Volatility Study
Study Examines Impact of Structural Changes over Time
Study Finds Limited Impact on Intraday Price Volatility
Study Based on Price Data for 15 Futures Contracts
August 27, 2013--The Futures Industry Association today released an empirical study on changes in the level of volatility in the futures markets. The study
focused on 15 futures contracts listed on four leading futures exchanges-CME Group, Eurex, IntercontinentalExchange and NYSE Liffe.
August 27, 2013--The Basel Committee on Banking Supervision has today published its fourth Report to G20 Leaders on progress made in the implementation of Basel III regulatory reforms. The report has been prepared for the G20 Leaders' Summit in St Petersburg on 5-6 September.
August 26, 2013--The Macroeconomic Assessment Group on Derivatives (MAGD) today published a report on the macroeconomic effects of OTC derivatives regulatory reforms.
August 26, 2013--Investors' messy breakup with emerging markets continued last week as year-to-date outflows from dedicated emerging market funds swelled to $5.9 billion, according to data provider EPFR Global.
Innovative Companies To Join Forces To Enhance Global Exchange Competition
August 26, 2013--BATS Global Markets, Inc. (BATS) and Direct Edge, LLC (Direct Edge) today announced a definitive merger agreement, which will bring together two customer-focused securities exchange operators under the BATS Global Markets enterprise to drive further innovation and better serve investors.
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