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NYSE Euronext Acknowledges Receipt of Proposed Merger Agreement from Nasdaq OMX Group and IntercontinentalExchange Inc.
April 19, 2011---- NYSE Euronext (NYSE: NYX) today confirmed receipt of a proposed merger agreement from the Nasdaq OMX Group, Inc. (Nasdaq: NDAQ) and IntercontinentalExchange, Inc. (NYSE: ICE). The Board of Directors of NYSE Euronext will review it in due course,
consistent with its fiduciary duties and its obligations under its previously announced business combination agreement with Deutsche Boerse AG (XETRA:DB1).
BlackRock New Report ETF Landscape: Industry Highlights - Q1 2011
April 19, 2011--This report highlights the Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) industry at the end of Q1 2011.
Global ETF and ETP industry:
The global ETF industry had 2,605 ETFs with 5,905 listings and assets of US$1,399.4 Bn, from 142 providers on 48 exchanges around the world at the end of Q1 2011. This compares to 2,131 ETFs with 4,133 listings and assets of US$1,081.9 Bn from 123 providers on 42 exchanges, at the end of Q1 2010.
The global ETF and ETP industry combined, had 3,724 products with 7,740 listings, assets of US$1,583.2 Bn from 178 providers on 52 exchanges around the world. This compares to 2,849 products with 5,158 listings, assets of US$1,235.4 Bn from 147 providers on 44 exchanges, at the end of Q1 2010.
United States ETF industry:
The ETF industry in the United States had 949 ETFs and assets of US$950.0 Bn, from 29 providers on two exchanges at the end of Q1 2011. This compares to 814 ETFs and assets of US$736.3 Bn, from 29 providers on two exchanges at the end of Q1 2010.
US$11.2 Bn of net new assets went into United States listed ETFs/ETPs in March 2011. US$5.2 Bn net inflows went into equity ETFs/ETPs, of which US$2.5 Bn went into ETFs/ETPs tracking emerging market equity indices, while ETFs/ETPs tracking US equity indices saw net outflows of US$4.8 Bn. Fixed income ETFs/ETPs saw net inflows of US$3.2 Bn, of which US$0.7 Bn went into inflation linked bond ETFs/ETPs and US$0.7 Bn went into corporate bond ETFs/ETPs. Commodity ETFs/ETPs saw net inflows of US$2.4 Bn, of which ETFs/ETPs providing exposure to precious metals saw net inflows of US$0.7 Bn and US$0.7 Bn net inflows went into ETFs/ETPs providing agricultural commodity exposure in March 2011.
Of the US$8.8 Bn of net new assets in United States listed ETFs in March 2011, iShares gathered the largest net inflows with US$5.1 Bn, followed by Vanguard with US$3.7 Bn net inflows, while State Street Global Advisors saw US$3.3 Bn net outflows.
European ETF industry:
The European ETF industry had 1,122 ETFs with 3,896 listings and assets of US$307.5 Bn, from 41 providers on 23 exchanges at the end of Q1 2011. This compares to 910 ETFs with 2,579 listings and assets of US$233.7 Bn from 36 providers on 18 exchanges, at the end of Q1 2010.
US$10.3 Bn of net new assets went into European listed ETFs/ETPs in Q1 2011. US$7.7 Bn net inflows went into equity ETFs/ETPs, of which US$4.0 Bn went into ETFs/ETPs providing European single country exposure while ETFs/ETPs providing broad European exposure experienced net outflows of US$1.6 Bn. Fixed income ETFs/ETPs saw net inflows of US$0.3 Bn, of which US$1.3 Bn went
into money market ETFs/ETPs while government bond ETFs/ETPs saw net outflows of US$1.5 Bn. US$2.2 Bn net inflows went into commodity ETFs/ETPs, of which US$1.2 Bn went into ETFs/ETPs providing broad commodity exposure and US$0.4 Bn went into ETFs/ETPs providing exposure to energy.
Of the US$4.0 Bn of net new assets in European listed ETFs in March 2011, UBS Global Asset Management gathered the largest net inflows with US$2.0 Bn, followed by iShares with US$1.3 Bn net inflows, while Lyxor Asset Management had the largest net outflows with US$0.3 Bn.
Asia Pacific (ex-Japan) ETF industry:
The Asia Pacific (ex-Japan) ETF industry had 224 ETFs with 336 listings and assets of US$56.9 Bn, from 63 providers on 13 exchanges at the end of Q1 2011. This compares to 159 ETFs with 255 listings and assets of US$40.6 Bn, from 53 providers on 13 exchanges, at the end of Q1 2010.
Japan ETF industry:
The Japanese ETF industry had 84 ETFs with 88 listings and assets of US$29.6 Bn, from eight providers on three exchanges at the end of Q1 2011. This compares to 70 ETFs with 73 listings and assets of US$27.3 Bn from six providers on two exchanges, at the end of Q1 2010. There are 178 ETFs which have filed notifications in Japan.
Latin America ETF industry:
The Latin American ETF industry had 26 ETFs, with 405 listings and assets of US$10.2 Bn, from four providers on three exchanges at the end of Q1 2011. This compares to 21 ETFs, with 231 listings and assets of US$9.3 Bn from three providers on three exchanges, at the end of Q1 2010.
Canada ETF industry:
The Canadian ETF industry had 171 ETFs and assets of US$42.8 Bn, from four providers on one exchange at the end of Q1 2011. This compares to 132 ETFs and assets of US$32.8 Bn from four providers on one exchange, at the end of
Q1 2010.
London Stock Exchange Group – TMX Group Statement On The Ontario Government Select Committee Report
April 19, 2011--TMX Group and London Stock Exchange Group acknowledge the significant work undertaken by the Ontario Select Committee to review the merits of our transaction. We will review the report in detail and look forward to continued open dialogue with all stakeholders as we work towards obtaining the required regulatory and shareholder approvals to complete our transaction.
The two companies believe the opportunity to create an international exchange leader is significant; our customers, our shareholders and the markets we serve will directly benefit from this strong partnership.
Identifying the Linkages Between Major Mining Commodity Prices and China’s Economic Growth-Implications for Latin America -IMF Working paper
April 19, 2011--Summary: Major mining commodity prices are inherently volatile and cyclical. High levels of investment in China have been a key driver in the strong world demand for minerals and metals over the past decade. The urbanization and industrialization of China has been an important factor behind the increase in domestic demand and high investment growth, while its export sector is also an important source of growth and plays a critical role as a catalyst.
Activity in infrastructure, construction, real estate, and automobile manufacturing all contribute to the strong demand for minerals. Over the next five years, the Chinese demand is expected to remain strong, supported by investment and gradually rising consumption rates. However, in the second part of this decade economic growth in China could slow down. For Latin American countries, export receipts should remain strong over the next five years and beyond, given the continued strong demand from China.
Hedge funds surge to peak of $2,002bn
April 19, 2011--Assets under management in the global hedge fund industry have soared to an all-time peak, surpassing the pre-crisis high thanks to the strongest investor inflows in years.
The world’s hedge funds at present manage $2,002bn of client funds, according to Hedge Fund Research, the industry’s leading data provider
.
ETFS Precious Metals Weekly: Gold approaches $1500/oz as inflation, debt fears mount
April 18, 2011--Gold price hits new record as inflation concerns take root.
Metal consultancy GFMS publishes forecast of $1600/oz gold spot price by year-end.
Silver nears $50/oz as latest figures show the Chinese economy maintained near double-digit growth in Q1.
Further strong global growth data, particularly for global manufacturing
powerhouse China, also added to the bid tone for silver. It reached its
highest level since January 1980 last week, closing in on the $50/oz
mark.
Gains in platinum group metals prices have been more modest than gold and silver over the past fortnight on downgrades to the near term Japan growth outlook by the IMF and the Japanese government.
Gold price hits new record as inflation concerns take root. Inflation cemented itself as an issue for markets following higher than expected inflation in the US, Europe, China and India. Large sovereign debt overhangs in developed economies, coupled with patchy employment growth, is staying the hand of central banks despite accelerating inflation. Slow currency appreciation is fanning imported inflation in China, while shortages in food markets are boosting inflation in emerging markets generally. Investors appear to be looking at precious metals as a way to hedge against potential inflation and currency debasement risks.
visit www.etfsecurities for more info
Brazil overtakes China in emerging private equity
April 18, 2011--Brazil has overtaken China as the favourite market for emerging private equity deals over the next year, due to a stronger political and regulatory environment and lower valuations, according to a survey published on Monday.
Private equity investors want to increase their exposure to emerging markets as a whole, to 16-20 percent in the next two years from 11-15 percent currently. This is primarily due to the high economic growth in these markets, according to the Emerging Markets Private Equity Association and Coller Capital survey of 156 private equity investors globally.
Brics mull trade system to bypass dollar
April 17, 2011-- Brics nations could benefit considerably by trading directly in their own countries, cutting out unstable internationally convertible currencies, Trade and Industry Minister Rob Davies said on Sunday.
Davies said such a system would take out the money lost to the "middle man" in conversion, and protect Brics trading partners (Brazil, Russia, India, China and South Africa) from the volatility affecting internationally convertible currencies, notably the dollar.
FSB progress report -Progress in the Implementation of the G20 Recommendations
April 15, 2011--The FSB published on 15 April its report to G20 Finance Ministers and Central Bank Governors on implementation of regulatory reforms for strengthening financial stability.
The report focuses on international policy development and implementation that has taken place since the G20 Finance Ministers and Central Bank Governors meeting in February 2011.
Progress in the Implementation of the G20 Recommendations
for Strengthening Financial Stability
FSB progress report on implementing OTC derivatives market reforms
April 15, 2011--The FSB published on 15 April its progress report on implementation of OTC derivatives market reforms. The report summarises progress made toward implementation of the G20 commitments concerning standardisation, central clearing, exchange or electronic platform trading, and reporting of OTC derivatives transactions to trade repositories.
In particular it looks at progress against the 21 recommendations set out in the FSB's October 2010 report for implementing reforms in an internationally consistent and non-discriminatory implementation to meet the G20 commitments. In the report, the FSB makes several overall observations on progress, including identifying a number of issues meriting additional attention in the near term.
view the OTC Derivatives Market Reforms-Progress report on Implementation