Global ETF News Older than One Year
S&P GSCI: Market Attributes-Commodities-Commodities Missed The Mark In May
June 5, 2013--KEY HIGHLIGHTS
The S&P GSCI fell 1.5% in May, bringing the index's YTD total return down to-5.6%.
The S&P GSCI Energy lost 1.9% this month, driving down the YTD total return to -4.7% and losing its position as the best performing sector index YTD.
The S&P GSCI Agriculture lost 61 basis points in May, bringing the YTDtotal return down to -4.4% and making it the best performer in 2013. The S&P GSCI Livestock was slightly down again in May, off 65 basis points, which added to its negative performance for the year, now off 8.1%. The S&P GSCI Industrial Metals, led by lead, was the only sector index to post gains in May, up 2.6%.
Source: Mondovisione
IMF Working paper-The Comovement in Commodity Prices: Sources and Implications
June 5, 2013--Summary: We present a simple macroeconomic model with a continuum of primary commodities used in the production of the final good, such that the real prices of commodities have a factor structure.
One factor captures the combined contribution of all aggregate shocks which have no direct effects on commodity markets other than through general equilibrium effects on output, while other factors represent direct commodity shocks. Thus, the factor structure provides a decomposition of underlying structural shocks. The theory also provides guidance on how empirical factors can be rotated to identify the structural factors. We apply factor analysis and the identification conditions implied by the model to a cross-section of real non-energy commodity prices. The theoretical restrictions implied by the model are consistent with the data and thus yield a structural interpretation of the common factors in commodity prices. The analysis suggests that commodity-related shocks have generally played a limited role in global business cycle fluctuations.
view the IMF working paper-The Comovement in Commodity Prices: Sources and Implications
Source: IMF
BlackRock, Vanguard warn Libor fixes threaten funds
June 4, 2013--BlackRock and Vanguard are urging an international regulatory body to reconsider some of the principles the group has proposed to bolster the Libor and other financial benchmarks.
The firms warn that some principles proposed by the International Organisation of Securities Commissions may spur regulators to impose misguided requirements on commercial indices, pushing up compliance costs that would then be passed on to regulated funds that license indices.
Source: FT
NASDAQ OMX Monthly Index Performance Report
June 4, 2013--NASDAQ OMX has consolidated performance data for the top 50 most-watched NASDAQ OMX indexes.
view the NASDAQ OMX Monthly Index Performance Report (as of 4/30/13)
Source: NASDAQ OMX
IOSCO Launches Investor Education Gateway
June 4, 2013--The International Organization of Securities Commissions (IOSCO) launched today an Investor Education Gateway on its Website.
This new online tool is part of IOSCO´s broader investor education initiative and aims to enhance the sharing of investor education information among IOSCO members and the public. The information contains online investor education materials from many of IOSCO´s members, as well as published IOSCO reports and presentations regarding investor education.
Source: IOSCO
NASDAQ OMX Prices EUR 600,000,000 Senior Notes Offering
June 4, 2013--The NASDAQ OMX Group, Inc. (NDAQ) today announced that it priced a public offering of EURO600,000,000 aggregate principal amount of Euro-denominated 3.875% senior notes due 2021.
The NASDAQ OMX Group, Inc. intends to use the net proceeds from the offering, together with cash on hand and/or borrowings under the revolving portion of its senior credit facility, to fund the consideration for the previously announced acquisition of the eSpeed platform and related expenses and for general corporate purposes, which may include the repayment of indebtedness.
Source: NASDAQ OMX
NYSE Euronext plans to sell over Rs 200 crore stake in MCX
June 3, 2013--Global exchange giant NYSE Euronext is considering a fresh bid to sell its nearly 5 per cent stake in India's premier commodity bourse MCX, after an earlier attempt failed in March this year.
NYSE Euronext, which runs leading bourses in the US and Europe, holds 4.79 per cent stake in Multi Commodity Exchange (MCX) and its stake is currently valued at over Rs 200 crore.
Source: The Economic Times
NASDAQ OMX Completes Acquisition of Thomson Reuters Investor Relations, Public Relations and Multimedia Businesses
NASDAQ OMX to Integrate Businesses With Global Technology Solutions
Accretive to EPS Within the First 12 Months, Excluding Transaction-Related Costs
June 3, 2013--The NASDAQ OMX Group, Inc., today announced the completion of its acquisition of Thomson Reuters Investor Relations, Public Relations and Multimedia Solutions businesses, which provide insight, analytics and communications solutions.
These complementary businesses will be integrated with NASDAQ OMX's Global Technology Solutions business to create a differentiated client experience through a comprehensive portfolio of technology-driven solutions to more than 10,000 clients worldwide.
Source: NASDAQ OMX
Average daily volume of 10.1 million contracts at Eurex Group in May
June 3, 2013--In May, the international derivatives exchanges of Eurex Group achieved an average daily volume of 10.1 million contracts (May 2012: 11.2 million). Of those, almost 7.4 million were Eurex Exchange contracts (May 2012: 8.4 million), and 2.7 million contracts (May 2012: 2.6 million) were traded at the U.S-based International Securities Exchange (ISE).
In total, 162.4 million contracts were traded at Eurex Exchange and 58.3 million at ISE. This makes May the best month in terms of trading volumes in 2013.
Eurex Exchange recorded 51.9 million equity index derivatives contracts (May 2012: 76.6 million). The single largest contract was the future on the EURO STOXX 50(R) Index with 20.6 million contracts. The option on this blue chip index totaled 18.6 million contracts. Futures on the DAX index recorded 2.3 million contracts while the DAX options reached another 4.0 million contracts. The Eurex KOSPI Product reached 1.5 million contracts.
Source: Eurex
IOSCO Publishes the Responses to Financial Benchmark Consultation
June 3, 2013--The International Organization of Securities Commissions (IOSCO) published today the comment letters to the consultation paper on Principles for Financial Benchmarks that was issued on 16 April 2013. The report sought public comment on a set of high-level principles for benchmarks used in global financial markets.
More than 40 responses were received. Because of the wide diversity of benchmarks, IOSCO also asked for public comment on a subset of more detailed principles for benchmarks having specific risks arising from their reliance on submissions and/or their ownership structure.
Source: IOSCO
