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CME Group and Oman Investment Fund to increase investments in Dubai Mercantile Exchange, Dubai Holding Retains 9% Stake
Partnership Will Build on Volume Growth with Increased Investment and Support
February 21, 2012-CME Group, the world's leading and most diverse derivatives marketplace, and Oman Investment Fund, a sovereign wealth fund of the Sultanate of Oman, today announced that they will increase their investments in the Dubai Mercantile Exchange to enable it to continue growing its business.
As part of the restructuring of the DME’s equity shareholding, a recapitalization arrangement will increase the stake in DME held by CME Group’s NYMEX division from 25 percent to 50 percent. Oman Investment Fund will increase its holding to 29 percent; a subsidiary of Dubai Holding will retain 9 percent; and 12 percent will be held on a non-voting basis by strategic investors, including Vitol, Shell, JP Morgan, Morgan Stanley, Goldman Sachs and Concord Energy.
Finansinspektionen: High Frequency Trading Not A Threat To Financial Stability
February 21, 2012--High frequency trading contributes to-but is not responsible for-changes in trading. But there is still considerable concern that market abuse has increased and supervision is insufficient. These are the main conclusions from Finansinspektionen's investigation.
FI’s investigation has demonstrated that the impact of high frequency trading on trading is smaller than feared. Swedish investors believe that trading has undergone a transformation and that the market has become more volatile, but that these changes can be explained by multiple factors and not only the emergence of high frequency trading.
International research indicates that the risk for financial stability is limited even if the growing technological advancements in trading can create uncertainty on the market. However, there is also considerable concern among Swedish investors that market abuse has become more widespread and difficult to identify.
FI’s investigation was conducted during the winter of 2011. It includes both the industry’s view on high frequency and algorithmic trading and the current research published in the area.
view the FI report summary-Investigation into high frequency and algorithmic trading
FTSE Group Lanches FTSE WPU: A Stable Global Currency Unit For Wealth Preservation
February 21, 2012--FTSE Group, the award-winning global index provider, today announces the launch of the FTSE Wealth Preservation Unit (WPU), a stable global currency unit which aims to allow global investors to preserve wealth over the long-term by providing protection from currency and inflation risk.
Currency exposure is an unplanned consequence of international asset allocation but currency swings can have a large impact on wealth. In addition, paper currencies risk the loss of purchasing power as inflation destroys wealth. In response to this investment challenge and in consultation with US currency firm Mountain Pacific Group, FTSE WPU provides investors with a transparent and reliable tool which aims to mitigate both risk of loss arising from changes in relative valuation in currencies, as well as internal loss from inflation erosion of purchasing power in order to preserve wealth over the long-term.
IOSCO consults on suitability requirements for complex financial products
February 21, 2012--The Technical Committee of the International Organization of Securities Commission (IOSCO) has published a consultation report-Suitability Requirements with respect to the Distribution of Complex Financial Products (Suitability Requirements)-which sets out proposed principles relating to the customer protections, including suitability and disclosure obligations, which relate to the distribution by intermediaries of complex financial products to retail and non-retail customers.
The report was prompted by concerns regarding the assessment of customer suitability in relation to the distribution of complex financial products arising out of and in connection with recent market turmoil. It also supports the call by the G20 for action to review business conduct rules.
No improvement in BRICs capacity to withstand shocks from global risks despite economic growth-Maplecroft Global Risks Atlas 2012
February 20, 2012--According to a major new report, the BRIC countries of Brazil, Russia, India and China are no better placed to withstand shocks from major risk events than they were four years ago.
The findings of the Global Risks Atlas 2012, released by risk analysis firm Maplecroft, indicate that strong economic performance in the BRICs has not translated into improved societal resilience or governance, which constrain a country’s ability to adapt and combat potential shocks from pandemics, terrorism, conflict, resource security, economic contagion and the impacts of climate change.
“With hopes for a global economic recovery resting with the BRICs, investors and business seeking new high-growth, high-risk markets need to be aware of their limited resilience to global risks.” states Maplecroft CEO Alyson Warhurst. “A country’s resilience to external and internal shocks is built up over time, so as the BRICs political risk environment improves we might see resilience strengthen, but our results reveal this is yet to happen.”
BRICs no less vulnerable to global risks
February 20, 2012--BRIC countries have not become less vulnerable to global shocks despite their strong economic growth over the past four years, a survey showed on Monday.
Risk consultancy Maplecroft said its Global Risk Atlas, which highlights potentially destabilising factors in the world's key growth economies, found that Brazil, Russia, India and China were no less susceptible to potential security or economic shocks than in previous years.
Investment in ETFs through wrap platforms increases as RDR draws closer
February 20, 2012--iShares, the Exchange Traded Funds (ETF) platform of BlackRock, Inc., saw its assets held on wrap platforms increase by over a third in 2011 and by 175% on a cumulative basis since Q1 2010.
This comes as financial advisers’ understanding of the benefits of implementing investment strategies via ETFs continues to grow.
iShares saw its assets held on six platforms reach £746 million at the end of 2011, an increase of 34% over the same period in 2010.
IOSCO consults on Principles for Ongoing Disclosure for Asset Backed Securities
February 20, 2012--The Technical Committee of the International Organization of Securities Commission (IOSCO) has published a consultation report--Principles for Ongoing Disclosure for Asset Backed Securities (ABS Ongoing Disclosure Principles)-containing principles designed to provide guidance to securities regulators who are developing or reviewing their regulatory regimes for ongoing disclosure for asset-backed securities (ABS).
The objective of the ABS Ongoing Disclosure Principles is to enhance investor protection by facilitating a better understanding of the issues that should be considered by regulators in developing or reviewing their ongoing disclosure regimes for ABS.
view the Principles for Ongoing Disclosure for Asset-Backed Securities Consultation Report
Overnight Markets: S&P hits nine-month high on strong economic data
February 17, 2012--Strong US economic data and optimism that Greece will receive a second bailout next week sent the Standard & Poor's 500 Index to a nine-month high on Thursday.
The benchmark index climbed 15 points, or 1.1%, to 1,358, posting its strongest percentage gain in two weeks. The Dow Jones industrial average rose 123 points, or 0.96%, to 12,904. The Nasdaq Composite Index gained 44 points, or 1.51%, to 2,960.
Financials, technology and materials led the rally with Americans filing the fewest claims for jobless benefits since 2008 and builders broke ground on more homes than forecast. Manufacturing in the Philadelphia region increased in February at the fastest pace in four months as orders and sales picked up.
IOSCO consults on revised CIS Valuation Principles
February 16, 2012--The Technical Committee of the International Organization of Securities Commissions (IOSCO) has published a consultation report on Principles for the Valuation of Collective Investment Schemes, setting out principles that can be used to assess the quality of regulation and industry practices concerning the valuation of collective investment schemes (CIS), thereby ensuring that investors are treated fairly.
This consultation report updates and modernises IOSCO’s Principles for CIS Valuation, originally developed in 1999, to take into account subsequent regulatory, industry and market developments. It also clarifies some concepts put forward by IOSCO in its report Principles for the Valuation of Hedge Fund Portfolios, such as the entity responsible for establishing a policy governing valuation and the independence of the valuation duty.
View Principles for the Valuation of Collective Investment Schemes Consultation Report