Global ETF News Older than One Year
ICE Clear Europe Completes Clearing Transition of NYSE Liffe Derivatives Contracts
July 2, 2013-- ICE Clear Europe, a wholly-owned subsidiary of IntercontinentalExchange, and NYSE Liffe, the derivatives division of NYSE Euronext, today announced the completion of the clearing transition for the London-based derivatives market of NYSE Liffe to ICE Clear Europe.
The clearing transition involved 43 member firms with 75 million contract sides being transferred to ICE Clear Europe and US $11.17 billion margin held at the clearing house on the morning of July 1, 2013. The combined guaranty fund for ICE Energy and NYSE Liffe Futures and Options is set at U.S. $1.2 billion from July 1, 2013. In addition, the migration covered over 1,300 products across bond, commodity, equity, index and interest rate derivatives and ten new settlement currencies for ICE Clear Europe.
Source: Intercontinental Exchange (ICE)
Investors pull $8.2bn from ETFs in June
July 2, 2013--Investors withdrew $8.2bn from exchange trade funds and products in June, interrupting the ETF industry's record-breaking run this year, after the Federal Reserve signalled that it was preparing to scale back its bond-buying programme.
Russ Koesterich, chief investment strategist at BlackRock, the world's largest fund manager, said the Federal Reserve’s comments had acted as a catalyst for a change in investor sentiment, leading to withdrawals from ETFs linked to gold, emerging market equities and fixed income.
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Source: FT.com
Boost-China credit crunch could cripple copper
The wind-down of copper stocks may have further to go. The directional downturn in copper is led by weakening fundamentals. Without policy stimulus, increasing speculative short positions may feed negative sentiment on copper. view more
Source: Boost
SPDR gold ETF sales not enough to restrain the gold price
Ahead of New York's opening gold stood at $1'255.40 and in the euro at €965.77.
Silver Today – Silver closed at $19.60 down 2 cents in New York yesterday. Ahead of New York’s opening silver stood higher at $19.63.
Source: MineWeb
ETFS Research Update-Precious Metals Return to Attractive Value
We believe the reaction of bond markets to Fed comments has been overdone, and ultimately real rates will fall from current levels, driving a rally in the gold price. On our estimates, gold, silver and platinum (with implications for palladium) are now trading around 20%, 10% and 25% below their respective average marginal costs of production. Prices will have to move above these levels to support long-term supply growth. Short gold futures positioning on COMEX is at an all-time high and silver shorts are now at over 10-year highs, indicating scope for powerful short covering rallies once fundamentals improve. Physical gold buyers, notably in China, have increased purchases as the price has dropped. While precious metals prices will be driven primarily by macro and technical factors in the near-term, we believe that at current levels they provide attractive value for long-term investors.
Source: ETF Securities
IOSCO Board focuses on behavioral economics and social media
The two day meeting on 18 – 19 June highlighted IOSCO’s commitment to identifying emerging risks and new market trends in a proactive and forward-looking way. The meeting was the first chaired by new Board Chairman Greg Medcraft of the Australian Securities and Investments Commission.
Source: IOSCO
ETF Securities-Precious Metals Weekly: Precious Metals Sell-Off Is Overdone
In our view the reaction of bond markets to Fed comments has been
overdone, and ultimately real interest rates will fall back from current levels. It appears that the Fed agrees that bond markets have over-reacted and key FOMC members appear to be trying to talk rates back down now. With gold speculative shorts at all-time highs and market sentiment almost unanimously negative, we believe there is scope for a price reversal in the coming weeks and months. Silver should benefit from a gold price rebound. Platinum and palladium have been affected more by the recent liquidity squeeze and resultant growth fears in China.
Again, we believe the sell-off is overdone. We expect China liquidity conditions will ease and growth fears will dissipate over the course of the year, removing this hindrance to platinum and palladium price performance. An added source of
longer-term price support for all four of the precious metals is that they are all now trading well below estimated marginal costs of production.
Source: ETF Securities
FTSE Launches the FTSE NAREIT Preferred Stock Index
Available in real time and as end-of-day, the index is designed to track the performance of US REITs preferred stocks. This new index extends FTSE’s existing comprehensive range of real estate indices which cover global, developed and emerging markets.
Source: FTSE
Average daily volume of 10.8 million contracts at Eurex Group in June
In total, 162.6 million
contracts were traded at Eurex Exchange and 54.3 million at ISE.
Eurex Exchange recorded 68.3 million equity index derivatives contracts (June
2012: 86.6 million). The single largest contract was the future on the EURO
STOXX 50 Index with 33.6 million contracts. The option on this blue chip index totaled 19.2 million contracts. Futures on the DAX index recorded 3.2 million contracts while the DAX options reached another 4.0 million contracts. The Eurex KOSPI Product reached 2.0 million contracts.
Source: Eurex
NASDAQ OMX Monthly Index Performance Report -June 2013
view the June Monthly Index Performance Report
Source: NASDAQ OMX
July 2, 2013--The end of cheap credit in China may focus over leveraged base metal producers on cutting costs.
Gold sales from the SPDR gold ETF remains the main influence on the gold and silver price currently
July 2, 2013--Gold Today-New York closed at $1,252.70 up $20.50 on yesterday. Asian demand came in and continued to lift gold to $1,264.4. It was Fixed in London at $1,260.75 and in the euro at €967.946 up €15, while the dollar against the euro was at €1: $1.3025.
July 2, 2013--Key points
The recent correction of the gold price to below $1,200/oz. has been driven by a sharp rise in US real interest rates on back of fears the Fed will reduce its bond buying program sooner than anticipated.
And continues its forward-looking and proactive work on global financial regulatory reform
July 1, 2013--The Board of the International Organization of Securities Commissions (IOSCO) met in Montreal to advance its work on regulatory reform and seek new ways to enhance market integrity and efficiency, identify and reduce systemic risk, and strengthen investor protection.
July 1, 2013--Precious metals, particularly gold and silver, were hit hard last week as investors continued to re-assess the outlook for US monetary policy. The sharp rise in US real interest rates has been the main trigger for the correction in gold and silver
prices.
July 1, 2013--FTSE Group ("FTSE"), the global index provider, today announced the launch of the FTSE NAREIT Preferred Stock Index.
July 1, 2013--In June, the international derivatives exchanges of Eurex Group achieved an
average daily volume of 10.8 million contracts (June 2012: 11.0 million). Of
those, almost 8.1 million were Eurex Exchange contracts (June 2012: 8.5
million), and 2.7 million contracts (June 2012: 2.5 million) were traded at the U.S.-based International Securities Exchange (ISE).
July 1, 2013--NASDAQ OMX has consolidated performance data for the top 50 most-watched NASDAQ OMX indexes.
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