Global ETF News Older than One Year
WEF -The Financial Development Report 2011
December 13, 2011--Hong Kong SAR overtakes the United States and the United Kingdom to top the World Economic Forum’s fourth annual Financial Development Report. As the first Asian financial centre to achieve this rank, Hong Kong’s position was bolstered by strong scores in non-banking financial services such as IPO activity and insurance.
Although it fell one spot to 2nd place, the United States’ overall score remains almost unchanged compared to last year. While financial stability continues to be a concern, the US was able to offset this weakness with strong financial intermediation results. Particular strengths in this area include highly developed foreign exchange and derivatives markets, as well as comparatively robust M&A and securitization activity. The United Kingdom declined in both score and rank, placing 3rd overall. The greatest contributing factors to the United Kingdom’s decline are lower scores on securitization and IPO activity.
The Financial Development Report 2011
Source: World Economic Forum (WEF)
November 2011 FIF Market Share and Market Dynamics Reports – Executive Summary
December 12, 2011--U.S. Equities Market Share
Share volumes traded across Tape A, B, and C decreased 15% monthly and 0.5% annually to 154 billion shares.
In November 2011, off-exchange trading
accounted for 30% of the shares traded in NMS Equity Securities.
Share volumes in NYSE-listed securities decreased 16% monthly and 3% annually to 85 billion shares.
NASDAQ-listed securities traded over exchange decreased 12% monthly and 2% annually to 39 billion shares. U.S. Equity Options Market Share
The top 3 market centers (PHLX, CBOE, ISE) make up 60% of the total cleared contracts.
BATS saw an annual increase of 95% to 6.1 million contracts (29% decrease monthly). At an annual rate, the total number of cleared contracts decreased 18% to 179 million contracts.
Total premiums in November 2011 decreased 9% annually to $51.5 billion.
view the November 2011 FIF Market Share and Market Dynamics Reports – Executive Summary
Source: Financial Information Forum (FIF)
FTSE Announces New Ownership Structure - London Stock Exchange Group to acquire 100% Ownership of FTSE International Ltd
December 12, 2011--FTSE International Limited (‘FTSE”) today announces a change to its current joint-venture ownership structure, with the London Stock Exchange Group (“London Stock Exchange Group”) announcing it has signed a definitive agreement to acquire the 50 per cent stake in FTSE International Limited, from Pearson, that the London Stock Exchange Group does not already own.
Following the transaction which is expected to close in Q1 2012 subject to customary closing conditions, FTSE International Limited will be wholly owned by the London Stock Exchange Group.
FTSE currently calculates and manages over 200,000 indices worldwide which are linked to over $3 trillion in global Assets under Management. These include the widely used global benchmark, the FTSE All-World Index, as well as a range of flagship indices around the world, such as the FTSE 100 Index and the FTSE MIB Index. FTSE also has successful partnership indices with several stock exchanges; FTSE/JSE Top 40 Index, FTSE KLCI and the Straits Times Index, which form the basis of a range of high profile ETFs globally
Source: FTSE
London Stock Exchange Group plc to acquire outstanding 50 per cent of FTSE International Limited
50 per cent stake of FTSE to be acquired for £450 million, giving LSEG 100 per cent ownership and strategic control
FTSE is a leading, high growth global index business with a powerful international brand and reach
Transaction facilitates accelerated global expansion and growth
LSEG’s business further diversified into indices, data and analytics, as well as into new geographies, in line with stated strategy
Governance and independence of FTSE index products to be maintained
Cost synergies of £10 million p.a. and gross revenue synergies of £18 million p.a. by the end of year 3; immediately earnings enhancing
Funded from existing resources; commitments received for new £350 million bank facilities to maintain financial flexibility (subject to final documentation)
Closing is subject to customary conditions and is expected by Q1 2012
December 12, 2011--London Stock Exchange Group plc (“LSEG”) today announces that it has signed a definitive agreement to acquire the 50 per cent stake in FTSE International Limited (“FTSE”), from Pearson plc, that LSEG does not already own, for total cash consideration of £450 million.
FTSE significantly diversifies LSEG’s business into indices, data and analytics and, in particular, creates new growth opportunities for LSEG’s listed derivatives trading business, a key strategic priority for the Group. It will increase access to buy-side firms and services and will offer an enhanced global footprint, including key emerging and growth markets. The transaction delivers on LSEG’s strategic objectives to build on its existing assets and seek opportunities.
Source: London Stock Exchange Group
German state seeks changes to D.Boerse, NYSE deal
December 12, 2011-A regional regulator said it had raised some objections to exchange operator Deutsche Boerse's (DB1Gne.DE) takeover of NYSE Euronext (NYX.N) and was awaiting a reply.
"There are legal reservations about the deal," the Hessian Ministry of Economics said in an e-mailed statement on Monday.
The ministry, based in Wiesbaden, Germany, has the power to revoke Deutsche Boerse's operating license, a key prerequisite to a successful deal.
Source: Reuters
December 12, 2011--The world needs to embrace new ways of running its institutions to rise to the challenges of 2012, concludes the World Economic Forum’s Outlook on the Global Agenda 2012. The report is the private, academic, civil society and public sectors’ overview of the main issues confronting the world following a year of tumultuous events, from Fukushima to Libya and Wall Street.
The annual report identifies the six most pressing issues global decision-makers face in 2012: the global economy; power shifts and emerging markets; job creation; political entrenchment; climate change; and the digital revolution. For each area, the report offers new models for addressing complex challenges. Specific suggestions include restructuring the International Monetary Fund to allocate seats on the board on a regional basis, delegating fiscal authority in Europe to the level of the Eurozone, and promoting sustainable, green growth innovations.
The Outlook on the Global Agenda 2012 is the annual publication of the Network of Global Agenda Councils, which consists of more than 1,200 influential leaders from government, business, civil society and academia. Each of the 79 Councils includes 15-20 international experts who meet regularly to propose innovative solutions to major global, industry and regional challenges. Meeting in Global Agenda Councils, which are organized by the World Economic Forum, the experts discuss new models for approaching the issues of their respective Councils. Their recommendations will contribute to shaping the agenda for the Annual Meeting 2012 in Davos-Klosters, and have provided input for the G20 consultations that the Forum held with the government of France, the current G20 chair, and will be conducting with Mexico, the G20 chair next year.
view the Outlook on the Global Agenda 2012 report
view the Survey on the Global Agenda
Source: WEF
MSCI to Make Emerging Markets Call
December 11, 2011--Index compiler MSCI Inc. is due to decide this week whether to upgrade the status of stock markets in the United Arab Emirates and Qatar, a move that would encourage more foreign investment, though some analysts query whether either country has done enough to merit a promotion.
MSCI's market-classification review to be announced on Wednesday will assess whether the U.A.E. and Qatar have taken sufficient steps to open their markets to justify being upgraded to emerging market status from their current frontier ranking. At the last review in June, the index compiler postponed a decision by six months saying it ...
Source: Wall Street Journal
Hedge funds set for second worst year since 1990
December 9, 2011--The hedge fund industry is in line to post its second worst year since 1990, with returns only lower during 2008, according to data from Hedge Fund Research.
The average hedge fund has lost 4.37% so far this year, with the sector losing money in six out of the last seven months after being hit by excessive market volatility.
In the last seven months, the sector only produced a positive return in October, with the average fund gaining 4.89%.
Source: Investment Week
Global regulators discuss OTC derivatives regulation
December 9, 2011--Leaders and senior representatives of the authorities responsible for the regulation of the over-the-counter (OTC) derivatives markets in Canada, the European Union, Hong Kong, Japan, Singapore and the United States met yesterday in Paris.
The meeting included Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA), Jonathan Faull, Director General for Internal Market and Services at the European Commission, Ashley Alder, Chief Executive Officer of the Hong Kong Securities and Futures Commission, Masamichi Kono, Vice-Commissioner of the Japan Financial Services Agency, Teo Swee Lian, Deputy Managing Director (Financial Supervision) of the Monetary Authority of Singapore, Mary Condon, Vice-Chair of the Ontario Securities Commission, Louis Morisset, Superintendent of Securities Markets at l’Autorité des marchés financiers du Québec, Gary Gensler, Chairman of the United States Commodity Futures Trading Commission, and Mary Schapiro, Chairman of the United States Securities and Exchange Commission.
Source: ESMA
Joint IMF-People’s Bank of China Symposium Calls for Strengthening Financial Stability Assessments in Asia and Worldwide
December 9, 2011--In the wake of the global financial crisis, authorities worldwide, including those in Asia, are stepping up their efforts to assess the health of their financial sectors in close collaboration with the International Monetary Fund (IMF). In the past two years, the IMF conducted its first-ever Financial Sector Assessment Program (FSAP) reviews of China and Indonesia, jointly with the World Bank. FSAP updates have been completed for Bangladesh, Cambodia, and the Philippines, and assessments are either underway or will soon be launched in India, Japan, Malaysia, and Australia.
“This stepped-up activity is consistent with the increased leadership role that Asia is playing in multilateral bodies such as the IMF and the G-20,” said Min Zhu, the IMF’s Deputy Managing Director, during a High-Level Regional Symposium held in Shanghai December 9-10 and organized jointly by the Fund and the People’s Bank of China (PBC). Attending were central bankers and financial regulators and supervisors from the Asia Pacific region, as well as from other parts of the world, and representatives from the Asian Development Bank, the Financial Stability Board, and standard setting bodies.
Source: IMF
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