Global ETF News Older than One Year
World economic crisis to last 10 years: IMF chief economist
October 3, 2012-- The International Monetary Fund's chief economist says the world economic crisis will take at least 10 years to emerge from its 2008 disaster mark.
“It will surely take at least a decade from the beginning of the crisis for the world economy to get back to decent shape," the IMF Chief Economist Olivier Blanchard said in an interview published on Wednesday with the news site Portfolio.hu.
The economist stressed that EU-powerhouse Germany would have to accept a higher inflation rate and focus its purchasing power in order to help speed recovery.
Source: Press TV
October 3, 2012--The Dow Jones-UBS Commodity Index was up 1.70% for the month of September.
The Dow Jones-UBS Single Commodity Indexes for lead, nickel and zinc had the strongest gains with month-end returns of 16.06%, 15.74% and 13.51%, respectively. The three most significant downside performing single commodity indexes were soybean, soybean meal and cotton, which ended the month down 8.85%, 8.72%, and 8.56% respectively.
Year to date, the Dow Jones-UBS Commodity Index is up 5.56% with the Dow Jones-UBS Soybean Meal Subindex posting the highest gain of 69.43% so far in 2012. Dow Jones-UBS Orange Juice Subindex has the most significant downside YTD performance, down 28.44%.
Source: Mondovisione
ETFGI-Global ETFs and ETPs gather record inflows of US$188 billion year-to-date through end of Q3 2012
October 3, 2012--Global ETFs and ETPs gathered US$188 billion of net new assets year-to-date through the end of Q3 2012, setting a new record high and surpassing the prior record of US$170 billion gathered in 2011, according to findings in the upcoming 'ETFGI Global Industry Insight, Q3 2012' report by ETFGI LLP, an independent research and consulting firm covering the global ETF and ETP industry.
Assets in global ETFs and ETPs also reached a new record high of US$1.86 trillion at the end of Q3, surpassing the prior record of US$1.76 trillion set at the end of August 2012.
ETFGI announced today that net new asset inflows into global Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) hit an all-time high of US$188 billion year-to-date through end of Q3 2012, which is US$18 billion more than the prior record of US$170 billion gathered in 2011.
Assets in global ETFs and ETPs reached a new record high of US$1.86 trillion at the end of Q3, surpassing the prior record of US$1.76 trillion set at the end of August 2012. Year-to-date through end of Q3 assets have increased by 21.7% from US$1.53 trillion to US$1.86 trillion in the 4,690 ETFs and ETPs, with 9,626 listings, from 204 providers on 56 exchanges.
Although the global ETF and ETP market continues to grow on many measures it remains very competitive; the top three providers consistently capture over 60% of assets, net new assets and trading volumes. Assets invested in ETFs and ETPs have grown at 26.5% CAGR over the past 10 years. The United States accounts for 70.1% of the US$1.86 trillion in global assets, Europe represents 18.8% and Asia Pacific (ex-Japan) 3.9%, leaving 7.2% for the rest of the world.
The top three providers collectively hold 68.7% of global assets. iShares ranks first with 38.3%, SPDR ETFs is second with 18.0% and Vanguard third with 12.4%. There is a 9.1% gap between third place and DB/x-trackers in fourth with 3.4% of global assets. The remaining 200 providers hold just slightly more than a quarter of global assets. The top 3 firms have held between 68-71% of global assets for many years. It will be very difficult for a new entrant or an existing firm to grow organically into the top 3.
The top three firms based on assets are also winning the net new asset (NNA) race accounting for 65.0% of all of NNAs, with iShares accounting for 26.7%, Vanguard 22.8% and SPDR ETFs 15.5%. The top three providers also captured a high proportion of trading volume with 75.2% collectively of September’s average daily trading volume. SPDR ETFs has the largest share with 42.4%, iShares is second with 28.3%, followed by ProShares with 4.5%.
“ETF competition is about getting the product mix and the ETF Eco System right and not just low costs. We will see some movement in the relative size of the industry heavyweights and while benchmark, performance, trading, liquidity and product structure will continue to be key considerations, costs as we see from the US will be an increasingly important component,” said Deborah Fuhr, Managing Partner at ETFGI.
Benchmarks are an important factor in the selection process when comparing ETFs and ETPs to implement exposure to a desired market segment or asset class. The top 3 index providers account for 54.5% of global assets. S&P Dow Jones has the largest number of ETFs/ETPs tracking their benchmarks with 1,028 products and 25.5% of assets, MSCI with 569 products and 19.7% of assets, followed by Barclays Capital with 178 products and 9.3% of assets. Over 100 other index providers split the remaining 45.5% of assets.
Year-to-date through Q3 2012 Equity ETFs and ETPs have gathered the largest net inflows accounting for US$111 billion, followed by fixed income ETFs and ETPs with US$50 billion and commodity ETFs and ETPs capturing US$17 billion.
Equity focused ETFs and ETPs have gathered US$111 billion YTD, which is US$20 billion more than the NNA flows they received in all of 2011. Products providing exposure to the United States/North American equities have gathered US$63 billion, followed by emerging market equity with US$28 billion and Asia Pacific equity with US$7 billion.
Fixed Income ETFs and ETPs have also proven to be very popular this year with US$50 billion in NNAs, which is US$4 billion more than the total new assets they received last year. Within the Fixed Income universe corporate bond products have gathered the largest net inflows with US$20 billion, followed by high yield products with US$14 billion. Emerging market and broad/aggregate bond exposures each captured just over US$5 billion.
Commodity flows at US$17 billion are nearly US$2 billion more than full year 2011 NNAs. Precious metals have gathered the largest net inflows with US$15 billion, followed by broad commodity products with US$2 billion.
Source: ETFGI
BATS Global Markets Posts U.S. Equities Market Share Of 12.4%; CXE Dark Book Is Largest MTF Dark Book In Europe
U.S. Options Market Share at 3.5%
PR Newswire
October 2, 2012--BATS Global Markets (BATS), a leading operator of securities markets in the U.S. and Europe, today reported September U.S. equities market share of 12.4%, the second-best monthly market share performance in the company's seven-year history.
"September's U.S. equities market share was our third straight month exceeding 12% as we continue to show exceptional strength at our flagship business despite lower market volumes overall," said President and Chief Executive Joe Ratterman. "In Europe, we set another monthly record in Copenhagen's OMXC20 Index and our CXE dark order book was the largest MTF dark book in Europe for the first time since the creation of BATS Chi-X Europe."
Source: BATS
CFTC reveals key rule-making milestones
October 2, 2012--The margin required for uncleared swaps in the US will be revealed early next year, according to a new Dodd-Frank Act implementation timeline released by the Commodity Futures Trading Commission (CFTC).
In a speech to the Financial Markets Law Committee Seminar at the Bank of England, CFTC chairman Gary Gensler said the agency was collaborating with European and other international regulators to coordinate a global approach for uncleared swaps margin.
Source: The Trade
UN-led carbon market 'close to collapse'
October 2, 2012-- It was supposed to be a clever way of neutralising greenhouse gas pollution in rich countries and boosting green investment in poorer nations.
But seven years after the first credit was issued in the world’s only global carbon market – the UN’s Clean Development Mechanism – prices have plunged to record lows and a panel set up by the UN itself to assess the CDM says it has “essentially collapsed”.
Source: FT.com
Implementation of capital standards: assessment reports published by Basel Committee
October 1, 2012--The Basel Committee on Banking Supervision has today published three reports assessing the rules that will implement Basel III in the European Union,, Japan and the United States.
Conducted by independent teams of technical experts from a wide range of countries, the assessments compared the relevant domestic regulations with the Basel Committee's global standards. The assessment teams comprehensively reviewed the capital requirements set out in the Basel II, Basel 2.5 and Basel III accords. In the case of the European Union and the United States, the teams assessed draft regulations, which will be the subject of follow-up reviews once they are finalised.
view the Basel III regulatory consistency assessment (Level 2) Preliminary report:
European Union
Source: Source: BIS
Component Changes Made To Euro STOXX Select Dividend 30 Index
Due to a cancellation of its dividend payments, BCO POPULAR ESPAÑOL (ES, Banks, POP.MC) is no longer eligible
to be included in the index.
With the open of European markets on October 4, 2012 the following companies are being added to and deleted from
the EURO STOXX Select Dividend 30 Index:
Source: STOXX
STOXX Monthly Report-September 2012 In Review
For the month of August, the Asia, European, U.S. and global markets were up 2.37%, 0.85%, 0.37% and 0.82%, respectively. The full performance report follows:
Source: STOXX
OIC Announces Average Daily Options Trading Volume Declined 7 Percent in September
Total options trading for the month was 329,627,631 contracts, down 15.7 percent from the September 2011 volume of 391,246,939 contracts. September 2011 had two more trading days than September 2012.
Source: OIC
October 1, 2012--STOXX Limited,the market-moving provider of innovative, tradable and global index
concepts, today announced changes in composition of the EURO STOXX Select Dividend 30 Index which will
become effective October 4, 2012.
October 1, 2012--As of September 28, 2012 stock market indices in Europe, Asia, the U.S. and globally were up in September, according to global index provider STOXX Limited.
October 1, 2012--The Options Industry Council (OIC) announced today that 17,348,823 contracts were traded on average each day in September, a 6.9 percent decline from the 18,630,087 contract average in September 2011, and the highest average recorded since February.
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