Global ETF News Older than One Year
CME seeks approval to offer currency futures in Europe
October 12, 2012--CME Group Inc, the biggest operator of U.S. futures exchanges, on Thursday filed an application with London financial authorities to launch a European market next year offering currency futures.
CME is looking to expand internationally as regulators worldwide push more of the vast over-the-counter derivatives market onto regulated exchanges.
Source: Reuters
Exploring the Dynamics of Global Liquidity
October 11, 2012--Summary: This paper explores the concept of global liquidity, its measurement and macro-financial importance.
We construct two sets of indicators for global liquidity: a quantity series distinguishing between core and noncore liabilities of financial intermediatires and a corresponding price series. Using price and quantity indicators simultaneously, it is possible to distinguish between shocks to the supply and demand for global liquidity, and isolate their impact on the economy. Our results confirm that global liquidity conditions matter for economic and financial stability, and points to indicators whose regular monitoring could be valuable to policymakers.
view the IMF Working paper-Exploring the Dynamics of Global Liquidity
Source: IMF
Dealing with domestic systemically important banks: framework issued by the Basel Committee
October 11, 2012--The Basel Committee on Banking Supervision issued today its Framework for dealing with domestic systemically important banks.
In November 2011, the Basel Committee issued final rules for global systemically important banks (G-SIBs). The G20 leaders endorsed these rules at their November 2011 meeting and asked the Basel Committee and the Financial Stability Board to work on extending the framework to domestic systemically important banks (D-SIBs).
While not all D-SIBs are significant from a global perspective, the failure of such a bank could have a much greater impact on its domestic financial system and economy than that of a non-systemic institution. Some of these banks may have cross-border externalities, even if the effects are not global in nature.
view the A framework for dealing with domestic systemically important banks
Source: BIS
New report on China's climate action + interactive map of world action
October 11, 2012--China has long been perceived as a laggard on climate action, and used as scapegoat by other countries, like Australia, to delay action. But this argument is increasingly difficult, if not impossible, to make given China's recent policies.
China will soon have the world’s second largest carbon trading scheme and is aggressively pursuing other climate and clean energy policies. These are key findings outlined in a report released today, commissioned by The Climate Institute from Climate Bridge, a multi-national project developer with years of experience in emission reduction projects in China.
view the report-Carbon Markets and Climate Policy in China
Source: The Climate Institute
NYSE Euronext Announces Trading Volumes for September 2012 and Other Metrics
Trading Volumes in September Down Year-over-Year; Rebound From August 2012 Levels
October 10, 2012--NYSE Euronext (NYX) today announced trading volumes for its global derivatives and cash equities exchanges for September 20121.
Trading volumes in September 2012 were down year-over-year, but rebounded across the four principal trading venues from lower levels recorded in August 2012.
Highlights
NYSE Euronext global derivatives ADV in September 2012 of 7.7 million contracts decreased 19.4% compared to September 2011, but increased 19.8% from August 2012 levels.
NYSE Euronext European derivatives products ADV in September 2012 of 3.5 million contracts decreased 28.2% compared to September 2011, but increased 6.5% from August 2012. Excluding Bclear, NYSE Liffe's trade administration and clearing service for OTC products, European derivatives products ADV decreased 20.9% compared to September 2011, but increased 30.6% from August 2012 levels.
Source: NYSE Euronext
FTSE ESG Group Releases Supply Chain Labour Report-Brand Value at Risk
October 10, 2012--FTSE Group's Environmental, Social and Governance group (ESG) has released the results of its recent research into supply chain management risks and the efforts companies are making to minimise those risks.
The research reveals that over a third of companies evaluated show no evidence of any action to minimise the risks inherent in their supply chain labour arrangements. This is particularly true of companies domiciled in Asia and of companies making electrical components and equipment.
The research is based on evaluation of data from the 456 companies in the FTSE Developed Index which have been identified as high or medium risk, primarily because they focus on clothing, footwear, accessories, toys, food products or consumer electronics. Other criteria also apply and are described in the report.
Source: FTSE
ETFS Precious Metals Weekly: Spain's reluctance to take bailout is holding back precious metals price gains
October 10, 2012--The ECB reiterated it is ready to buy sovereign bonds but Spain still refusing to ask for necessary bailout.
Gold price gains tempered by surprise fall in the US unemployment rate.
Platinum price hits 8 month high as South African mining strikes continue.
Key events to watch this week: meeting of Euro finance ministers.
Research note
What Will Drive the Next Leg of the Gold Bull Market?
Since mid-July the gold price has rallied strongly, but remains 11% below the peak of USD$1900/oz. achieved in September 2011. European financial and economic turmoil continues to plague financial markets, yet officials have so far failed to find a comprehensive plan to solve the root causes of the crisis. Europe remains mired in deep recession, the US economy appears to have stalled, while Asian emerging market growth has slowed. In this environment most "safe haven" assets have performed well, with G-3 bond yields falling to all-time lows earlier this year. Prior to August, the stand-out exception was gold, which had performed relatively poorly in 2012. Gold's modest performance in an environment of high sovereign risk caused some investors to question its historic "store of value" credentials. In this note we look at some of the key factors that traditionally drive gold price performance, explain what has been behind the performance of the gold price so far this year, and assess the outlook and likely key catalysts for gold price performance for the rest of 2012 and into 2013.
visit www.etfsecurities.com for more info
Source: ETF Securities
OECD-Better Life Index
October 10, 2012--EXECUTIVE SUMMARY
HISTORY
For over fifty years, the Organisation for Economic Cooperation and Development (OECD) has helped governments design better policies for better lives for their citizens.
It provides a forum in which leaders and policy makers can work together to share experiences and seek solutions to common problems, and produces high-quality internationally comparable statistics used to understand what drives economic, social and environmental change.
Ever since the OECD started out in 1961, GDP has been the main factor by which it has measured and understood economic and social progress. But it has failed to capture many of the factors that influence people's lives, such as security, leisure, income distribution and a clean environment.
Is life really getting better? How can we tell? What are the key ingredients to improving life – is it better education, environment, healthcare, housing, or working hours? Does progress mean the same thing to all people or in all countries and societies? A pioneer in this emerging field of research, the OECD has been working for almost ten years to identify the best way to measure the progress of societies – moving beyond GDP and examining the areas that impact everyday people's lives. Today, the fruit of this work is manifested in the OECD Better Life Initiative.
Source: OECD
HSBC's Islamic closures highlight dilemma
October 10, 2012--Last week HSBC decided to close down its Islamic retail banking operations in six markets so that it will be present only in Malaysia, Saudi Arabia and, in shrunken form, Indonesia.
This event underlined the contradictions of the broader sector. On one hand, Islamic banking is continuously reported to be growing at e very high rate - more than 20% a year. On the other hand, there is a huge difference between asset growth and revenues and profit. Poor performance in retail banking markets is the reason for HSBC's withdrawal as well as for the decrease of Barclays' and Deutsche Bank's Islamic banking teams in Dubai.
Source: IslamicFinance.de
IMF Sees Heightened Risks Sapping Slower Global Recovery
IMF revises forecast down, global growth projected at 3.3 percent this year
World trade slumps, hurting emerging markets, developing countries
Prospects could improve if clouds over euro area, U.S. "fiscal cliff" are lifted
October 9, 2012--
The International Monetary Fund (IMF) presented a gloomier picture of the global economy than a few months ago, saying prospects have deteriorated further and risks increased. Overall, the IMF's forecast for global growth was marked down to 3.3 percent this year and a still sluggish 3.6 percent in 2013.
In its latest World Economic Outlook, unveiled in Tokyo ahead of the IMF-World Bank 2012 Annual Meetings, the IMF said advanced economies are projected to grow by 1.3 percent this year, compared with 1.6 percent last year and 3.0 percent in 2010, with public spending cutbacks and the still-weak financial system weighing on prospects.
Source: IMF
