Global ETF News Older than One Year
IOSCO Consults on Global Developments in Securitization Regulation
June 7, 2012--The International Organization of Securities Commissions (IOSCO) has published a Consultation Report on Global Developments in Securitization Regulation, which seeks public comment on policy issues arising from the work of its Task Force on Unregulated Markets and Products (TFUMP).
The Consultation Paper is in response to a request from the Financial Stability Board (FSB) as part of its work to strengthen oversight and regulation of the shadow banking system. The FSB asked IOSCO, in coordination with the Basel Committee on Banking Supervision, to conduct a stock-taking exercise on the requirements for risk retention and measures enhancing transparency and standardization of securitization products, and to develop policy recommendations as necessary. The FSB's request followed earlier IOSCO and Joint Forum work aimed at regulatory initiatives to support recovery of securitization markets.
The Consultation Paper is based on a survey of member jurisdictions and builds on earlier work undertaken by staff of the US Securities Exchange Commission and the European Commission on developments in the US and the EU.
view the Global Developments in Securitization Regulation-Consultation Report
Source: IOSCO
Thomson Reuters Global Equities Monthly Market Share Data Reports- May 2012
June 7, 2012--Trading is fragmenting between exchanges and competing venues. But by how much and which venues? Find out in the summarised monthly reports.
Source: Thomson Reuters
Global food prices down sharply
June 7, 2012--A U.N. agency says world food prices dropped sharply in May, reaching their lowest level in eight months due to favorable supplies and currency fluctuations.
The U.N. Food and Agriculture Organization said in its monthly report Friday that global prices of a basket of food commodities fell by 4 percent in May.
Source: Business Week
China has cut holdings of European assets: report
June 7, 2012-- China's sovereign wealth fund has cut its European assets amid rising risk of a eurozone collapse, the fund's chief told the Wall Street Journal in an interview published Thursday.
Lou Jiwei, chairman of the China Investment Corp. (CIC) which manages the nation's $410-billion sovereign fund, told the newspaper that there was growing risk of a break up of the eurozone.
"There is a risk that the eurozone may fall apart and that risk is rising," he said.
Source: EUbusiness
Component Changes Made To Dow Jones Islamic Market Indexes
Changes Follow Regular Annual Review
June 7, 2012--Dow Jones Indexes, a leading global index provider, today announced the results of the regular annual review of the Dow Jones Islamic Market Titans 100 Index and its three subindexes, Dow Jones Islamic Market U.S. Titans 50 Index,
Dow Jones Islamic Market Asia/Pacific Titans 25 Index and Dow Jones Islamic Market Europe Titans 25 Index as well as the Dow Jones Islamic Market Malaysia Titans 25 Index. All changes will be effective after the close of trading on Friday, June 15, 2012.
In the Dow Jones Islamic Market Titans 100 Index and subindex Dow Jones Islamic Market U.S. Titans 50 Index, Baker Hughes Inc., Corning Inc. and Marathon Oil Corp. will be replaced by eBay Inc., Express Scripts Holding Co. and Nike Inc. Cl B.
Source: Dow Jones Indexes
Nasdaq plans $40m Facebook IPO rebates
June 7, 2012--Nasdaq OMX Group Inc. has said it will offer $40m in cash and rebates to compensate clients affected by the problems with Facebook Inc.'s initial public offering, an amount well short of the losses claimed by top market makers for the IPO, Reuters has reported.
After approval by regulators, Nasdaq said that $13.7m would be paid to its affected member firms and the balance would be credited to members to reduce trading costs, with all benefits expected to be awarded within six months.
Source: AME Info
The banks that are too complex to exist
June 7, 2012--Why did JPMorgan Chase's top management fail to spot the $2bn-plus losses brewing in the chief investment office this year?
There is no shortage of potential explanations: a cover-up by traders, flawed computer models, poor accounting, lax oversight and excessive complacency have all been blamed.
Source: FT.com
Winthrop Capital Management-Investment Perspective -The Global Debt Crisis
June 6, 2012--The capital markets are now in a period of deleveraging which is marked by austerity, tight credit, transfer of wealth, debt restructuring, and central bank intervention in the capital markets.
And, because of the structural problems with the European Union, Europe is having more difficulty dealing with its deleveraging.
view Winthrop Capital Management-Investment Perspective-The Global Debt Crisis
Source: Winthrop Capital Management
DCGX Academy-UNITY IS STRENGTH -G7 Pledge Support; Markets Rise among turmoil
June 6, 2012--HIGHLIGHTS
India's rupee strengthened against the U.S. dollar.
Indicative bid prices for the rupee were at 55.3700 versus 55.6300 the previous trading day. Offer prices were indicated at 55.3800 versus 55.6400 the previous day. INR advanced for a second day after the G7 nations agreed to act together to tackle Europe's debt crisis, spurring optimism about the global economic outlook.
The G7 agreed yesterday to coordinate their response to Europe's financial turmoil, which has tipped at least eight of the 17 euro-area economies into recession. U.S. service industries expanded faster than economists expected in May, data showed yesterday, increasing demand for emerging-market assets. "The rupee is being boosted by a mildly positive global sentiment, which I think will be a temporary phenomenon," said a trader and added "We are still seeing purchases of dollars by importers, so gains in the rupee are likely to be limited." INR advanced 0.2 % to 55.5525 .The currency's one-month implied volatility, a measure of exchange-rate swings used to price options, was unchanged at 12.9 %.
FOREIGN EXCHANGE
Dollar Falls Versus Peers as Stock Gains Damp Demand for Safety
G-7 Leaders Pledge Cooperation Tackling Spain, Greece Woes
Canada Dollar Gains From 6-Month Low as BOC Signals
Canada Says Rates May Still Rise as Global Risks Increase
China-Bashing Amid Manufacturing Loss Binds Obama to Romney
Pound Poised to Strengthen Against the Euro, BNP Paribas Says.
Greek Euro-Exit 'Moonscape' Result May Threaten Drachma Choice
Aussie Climbs on Faster GDP Growth
Asian Currencies Gain, Led by Ringgit, on U.S. Data, G-7 Pledge
Source: DCGX Academy
Mirae Asset-BRICs weekly -Concerns about Greece and Spain Dominate Markets
June 6, 2012--China
Policy easing expectation continues.
Hong Kong markets ended flat last week but the reignited European debt woes dragged the market down in the month of May. China bourses edged up for the week and also in May due to new easing policy having emerged although the scale of the measures are not be comparable to those implemented in 2008.
Policy easing expectations continued to support the market. China’s automakers rallied after news that the government will provide subsidies to car buyers who trade-in used vehicles for fuel-efficient ones. Elsewhere, government authorities said banks can give discounts on housing loan interest rates to buyers of eco-friendly homes.
India
Economic growth down to a record low.
The Indian equity market went lower last week as measured by the SENSEX Index.
Fourth quarter FY2012 GDP growth slowed to 5.3%, considerably lower than market consensus of 6.1%. This is a record low in quarterly GDP measured in the current GDP series.
Brazil
Selic rate cut by 50 bps to 8.5%.
Rising systemic risk across the Eurozone, and deteriorating growth expectations in Brazil, US and China have contributed to a spike in risk aversion and outflows from EM equities in May.
Brazilian equities posted modest gains in the week ending May 31st, rising 80bps in local currency to trim 1month losses to 11.9%. In USD terms the index rose 2.3% to end the month -14.4%. The deteriorating health of the Spanish banking sector has returned to worry investors.
Russia
Waiting and seeing European politics.
European politics continue to dominate markets. Voting polls will influence market direction, causing further near-term volatility. Recent polls from Greece indicate a rise in support for the pro-bailout New Democracy party, reflecting public support for the country to remain a member of the single currency.
Stability within the Spanish banking sector is also critical to equity market performance, with the recent nationalization of Bankia highlighting the need for capital injections at several of Spain’s large mortgage lenders.
Source: Mirae Asset
