Global ETF News Older than One Year
Basel Committee issues consultative document on recognising the cost of credit protection purchased
March 22, 2013-- Basel Committee on Banking Supervision has today published a proposal that would strengthen capital requirements when banks engage in certain high-cost credit protection transactions.
The Committee has previously expressed concerns about potential regulatory capital arbitrage related to certain credit protection transactions. At that time it noted that it would continue to monitor developments with respect to such transactions and would consider imposing a globally harmonised minimum capital Pillar 1 requirement if necessary. After further consideration, the Committee decided to move forward with a more comprehensive Pillar 1 proposal.
Source: BIS
IOSCO Consults on Regulatory Issues Raised by Changes in Market Structure
March 21, 2013--The International Organization of Securities Commissions (IOSCO) published today a Consultation Report on Regulatory Issues Raised by Changes in Market Structure, which identifies possible outstanding issues and risks posed by existing or developing market structures.
It also provides recommendations to address these potential risks.
At its summit meeting in 2010, the G20 requested that IOSCO 'develop recommendations to promote markets' integrity and efficiency to mitigate the risks posed to the financial system by the latest technological developments.” This consultation report forms part of IOSCO´s response to that request.
view the Regulatory Issues Raised by Changes in Market Structure-Consultation Report
Source: IOSCO
Happiness is...
March 20, 2013--"Happy families are all alike; every unhappy family is unhappy in its own way"-so wrote Russian novelist Leo Tolstoy at the start of his novel Anna Karenina in 1873. It is clearly a thought that resonates with people as it is one of the most quoted lines from the author.
But is it really true? Or are we all, as human beings, in fact happy in our own individual way? And if so, how can governments capture how we feel to guide their policy making?
An important question to ponder as we celebrate the world’s first “International Day of Happiness” on March 20, 2013. The economic, financial and social crisis that erupted in 2008 has led people to question the fundamental underpinnings of our societies and how they are governed. The discovery that the preceding boom years, far from benefiting everyone, in fact saw a widening gap between rich and poor in our societies, helped feed the idea that GDP is not an adequate measure of success in modern societies.
view the OECD report-OECD Guidelines on Measuring Subjective Well-being
Source: OECD
NASDAQ OMX Announces New CEO of NASDAQ OMX Tallinn
March 19, 2013--The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces that the Supervisory Council of NASDAQ OMX Tallinn approved Rauno Klettenberg as the Chief Executive Officer (CEO) of NASDAQ OMX Tallinn.
Mr. Klettenberg will serve as CEO of NASDAQ OMX Tallinn beginning on April 8, 2013. NASDAQ OMX Tallinn operates the main stock exchange in Estonia and owns the Estonian Central Securities Depository (CSD), where he will act as the Chairman of the Supervisory Council.
Source: NASDAQ OMX
BIS-March 2013 Quarterly Review: Markets grow confident on continued support
March 18, 2013--Market participants' renewed sense of optimism has accompanied further policy accommodation, but macroeconomic performance is lagging behind.
In the third quarter of 2012, BIS reporting banks posted their smallest increase in cross-border claims in 13 years. They increased their crossborder claims on non-banks located in the United States but cut their exposure to banks in the euro area.
Inflation expectations returned to pre-crisis levels as central banks started to implement asset purchase programmes in late 2008 and early 2009. But further analysis suggests that these programmes were probably not the main driver of these shifts.
Measures of financial conditions can improve our ability to explain movements in output, but they provide only limited information about future inflation.
Source: BIS
BNY Mellon expands global derivatives clearing team
Regulatory and market changes driving renewed demand for new services
March 18, 2013--BNY Mellon, the global leader in investment management and investment services, today announced it has expanded its global derivatives clearing leadership team with five new appointments in the United States and Europe.
Mark B. Gonzalez has been appointed as the US Chief Operating Officer for derivatives clearing services, based in New York.
Source: BNY Mellon
Innovation drives next generation of indices
March 18, 2013--If you always do what you've always done, you'll always get what you've always got." Variously attributed to Albert Einstein, Mark Twain and Henry Ford, this aphorism is increasingly being adopted by the exchange-traded fund industry.
Innovation drives next generation of indices
In a world where it has become increasingly difficult to generate spectacular investment returns, innovation will play an important role in the years to come, according to index providers.
Source: Financial News
JPMorgan Chase Whale Trades: A Case History of Derivatives Risks and Abuses
March 15, 2013--The Subcommittee examined matters relating to credit derivative trades made by the JPMorgan Chase Chief Investment Office. The Subcommittee issued a Subcommittee staff report in conjunction with the hearing summarizing its investigative findings and recommendations. Witnesses included representatives from JPMorgan Chase and the Office of the Comptroller of the Currency.
Source: U.S. Senate Committee on Homeland Security & Governmental Affairs
EPFR Global News Release-Equity Fund flows in mid-March tracking Dow's ascent, 'Abenomics' and dividends
March 15, 2013--US, Japan and Dividend Equity Funds enjoyed strong inflows during the second week of March as benchmark equities indexes around the world tested multi-year highs and investors continued their recent pivot from Europe and emerging markets to Japan and the US.
While EPFR Global-tracked China Equity Funds recorded their biggest outflow in over five years their US counterparts pulled in over $10 billion and Japan Equity Funds more than $1 billion.
Visit http://www.epfr.com for more info
Source: EPFR
ESMA publishes practical guidance for the recognition of Third Country CCPs by ESMA
March 13, 2013--The purpose of this note is to provide information on the recognition by ESMA of Third Country CCPs (TC-CCPs) under EMIR.
Please also see the EMIR page for further information.
view the Practical guidance for the recognition of Third Country CCPs by ESMA
Source: ESMA
