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Index Data Monthly Report: Dow Jones-UBS Commodity Indexes
March 3, 2010--The Index Data Monthly Report: Dow Jones-UBS Commodity Indexes is now available.
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Index Data Monthly Report: Dow Jones Islamic Market Indexes
March 3, 2010--Index Data Monthly Report: Dow Jones Islamic Market Indexes is now available.
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CME Group Volume Averaged 12.5 Million Contracts Per Day In February 2010, Up 17 Percent From February 2009
March 2, 2010--CME Group, the world's largest and most diverse derivatives marketplace, today announced that February volume averaged 12.5 million contracts per day, up 17 percent from February 2009. Total volume was 238 million contracts for February, of which a record 84 percent was traded electronically.
Electronic volume averaged 10.5 million contracts per day, up 23 percent from the prior February. Average daily volume cleared through CME ClearPort was 467,000 contracts for February 2010, down 26 percent compared with February 2009. The rolling three-month ClearPort rate per contract through January is up 9 percent, even though the rolling three-month ClearPort average daily volume is down 2 percent in the same period due to a product mix shift and the wide variance in rate per contract for individual CME ClearPort products.
In February 2010, CME Group interest rate volume averaged 5.7 million contracts per day, up 37 percent compared with the prior February, and up 19 percent sequentially. Treasury futures volume averaged 2.7 million contracts per day, up 55 percent compared with the same period in 2009, and Treasury options volume averaged 273,000 contracts per day, up 14 percent. Eurodollar futures volume averaged 2.0 million contracts per day, up 28 percent versus February 2009, while Eurodollar options volume averaged 615,000 contracts per day, up 6 percent.
CME Group equity index volume averaged 3.0 million contracts per day, down 14 percent from February 2009, but up 3 percent from January 2010. CME Group foreign exchange (FX) volume averaged 931,000 contracts per day, up 82 percent compared with the same period a year ago, reflecting average daily notional value of approximately $121 billion, an all time record for both daily notional and volume.
Thomson Reuters And Lepus Survey Reveals Data Quality And Consistency Key To Risk Management And Transparency
March 2, 2010--Thomson Reuters and Lepus, the independent research firm, today released the results of a survey highlighting the responsibility fragmented IT systems played in the financial crisis and the role data will play as the market rebuilds.
The survey of data management strategies at over 100 top tier buy- and sell-side firms revealed how more than three quarters (77%) of participants intend to increase spending on projects that address data quality and consistency issues. Firms are increasingly looking to exploit data consistency to support data hungry risk management processes and achieve a more extensive view of risk, with an overwhelming majority (87%) citing improvements in this area as a priority.
The need for clarity of data to facilitate compliance is a key focus for 44% of survey participants, likely driven by the need for data intensive stress tests as firms look to improve scenario modeling for low probability, high impact events following largely unpredicted volatility across financial markets in recent years.
Portfolio management, regulatory compliance, trading, finance, clearing and client profitability were all highlighted as areas that would benefit from an improved data infrastructure, according to the executives who took part in the survey.
Robert Smith, Head of Research, Lepus, said: “A huge majority of firms have looked to revise their data management solutions in the wake of the credit crisis. The results of this survey show that firms are committed to improving data quality and consistency across the organization and are investing significantly in a bid to move closer to their ideal data management solution.”
Jason du Preez, Global Business Manager, Enterprise Platform for Data Management, Thomson Reuters, said: "As the economy recovers, financial institutions are looking to improve and simplify data operations by demanding greater consistency and quality of data across the front, middle and back-office. Through this survey, the industry has outlined the importance of next-generation data management solutions to support effective risk, regulatory compliance and trading strategies."
Thomson Reuters recently unveiled the latest release of its Enterprise Platform for Data Management, the only integrated platform in the market today that unifies the acquisition, management and distribution of multi-sourced enterprise data assets. It incorporates a market standard canonical data model that simplifies data integration and promotes data transparency throughout the enterprise. Not only does the platform handle the aggregation, cleansing and normalization of a firm’s data sources but uniquely addresses new and changing business needs including risk management, compliance and portfolio valuation.
February Statistics Report From The NASDAQ OMX Nordic Exchanges
March 2, 2010--Share Trading in February
The value of average daily share trading amounted to EUR 2.6 billion, as compared to EUR 2.3 billion during the past 12-month period. The average number of trades per business day amounted to 290,141 as compared to 226,005 during the past 12-month period. The total market cap of listed companies at NASDAQ OMX Nordic Exchange amounted to EUR 642 billion, compared to EUR 382 billion in February 2009.
Share Trading in February
The value of average daily share trading amounted to EUR 2.6 billion, as compared to EUR 2.3 billion during the past 12-month period. The average number of trades per business day amounted to 290,141 as compared to 226,005 during the past 12-month period. The total market cap of listed companies at NASDAQ OMX Nordic Exchange amounted to EUR 642 billion, compared to EUR 382 billion in February 2009.
BATS Exchange, BATS Europe Gain Market Share In February
BATS Exchange Earns 10.7% Us Equities Market Share, Maintains Rank As 3rd-Largest Us Equities Trading Venue, 3rd-Largest Global Exchange Operator - BATS Europe Continues To Set Records
March 2, 2010-– BATS Global Markets, an innovative global
financial markets technology company, reports BATS Exchange increased its share of US equities trading
in February with 10.7% matched market share for the month, compared to 10.2% in January, and set new
matched market share records in Tape B securities with 17% and Tape C securities with 11.8%
BATS Exchange’s matched market share on its single US equities platform places it more than 1.5 billion
shares ahead of combined monthly volume from the next closest US competitor’s three trading platforms.
Among top global equities market operators, BATS Exchange earned third place in January after NYSE and NASDAQ and ahead of exchanges based in Shanghai, Tokyo and London in terms of value of shares traded.
BATS Europe, the fast-growing Multilateral Trading Facility, again recorded strong monthly market share results in the FTSE 100 (8.1%), FTSE 250 (5.9%), FTSE MIB (5.6%) and CAC 40 (4.9%), and set new monthly records in the DAX (4.9%), AEX (4.9%), SMI (4.3%) and the overall European market (4.7%). BATS Europe also earned record total average turnover of more than €1.73 billion (Integrated and Dark books) for the month.
NASDAQ OMX to Introduce New Symbology for NASDAQ-Listed Securities
March 2, 2010--The NASDAQ OMX Group
(Nasdaq:NDAQ) today announced that, effective September 1, 2010, it
will introduce new trading symbology in preparation for the industry's
listing and trading of five-character root U.S. equity symbols as
permitted by the National Market System Plan for the Selection and
Reservation of Securities Symbols.
Since no cash equities exchange currently lists root ticker symbols of
more than four characters, NASDAQ OMX will be required to modify its
current root and suffix symbols in order to avoid investor confusion
associated with the listing and trading of five-character root symbols.
Under the new symbology, NASDAQ OMX will identify all subordinate issues for NASDAQ-listed securities with the use of a "." mark. The character following the "." mark will now relay the basic information about the issue class or issue type. For example, ABCDA would become ABCD.A. The current A-Z suffix definition will not change. NASDAQ-listed symbols that follow the current suffix symbology will be migrated to the new plan outlined above.
More detailed information is available in Equity Trader Alert #2010-011:
http://www.nasdaqtrader.com/TraderNews.aspx?id=ETA2010-011
The list of affected NASDAQ-listed symbols is available at: http://media.globenewswire.com/cache/6948/file/7926.pdf
Please note this list is subject to change.
MSCI sees $50m in RiskMetrics’ deal synergies and staff cuts
March 2, 2010--MSCI says it has identified $50m of cost synergies in its proposed acquisition of RiskMetrics and plans to cut an unspecified number of jobs at the combined firm. Speaking on a conference call for investors following yesterday’s announcement of a $1.55bn takeover of RiskMetrics, MSCI chairman and chief executive Henry Fernandez, said he also saw an “opportunity” to move some positions within a combined group to emerging market locations.
Fernandez said one potential growth area for the combined firm could include ESG indices and that MSCI was on the lookout for further acquisitions amongst equity index providers, although he said there were no identifiable targets at present.
Component Changes Made to Dow Jones Select Dividend Indexes
March 1, 2010--Component Changes Made to Dow Jones Select Dividend Indexes
In the Dow Jones Sweden Select Dividend 15 Index, Seco Tools AB Series B (Sweden, Industrial Goods and Services, SECO-B.SK) will be replaced by Tele2 AB Series B (Sweden, Telecommunications, TEL2-B.SK).
In the Dow Jones U.K. Select Dividend 20 Index, BRIT Insurance Holdings N.V. (United Kingdom, Insurance, BRE.LN) will be replaced by RSA Insurance Group PLC (United Kingdom, Insurance, RSA.LN).
In the Dow Jones Global Select Dividend Index, BRIT Insurance Holdings N.V. (United Kingdom, Insurance, BRE.LN) will be replaced by Tate & Lyle PLC (United Kingdom, Food and Beverage, TATE.LN).
Seco Tools AB Series B and BRIT Insurance Holdings N.V. are being removed due to the cancellation of their dividend payments. All changes will be effective as of the open of trading on Thursday, March 4, 2010.
Further information on the Dow Jones Select Dividend Indexes can be found at http://www.djindexes.com.
MSCI buys RiskMetrics for $1.55bn
March 1, 2010--MSCI, the index and risk group is buying RiskMetrics, the New York-listed risk management and corporate governance firm, in the latest twist to consolidation in the ESG research and governance space.
It is paying approximately $1.55 billion in a cash and stock transaction that values RiskMetrics at $21.75 per share. RiskMetrics last traded at $18.69 and its highest ever share price was $25.50 during 2008. MSCI’s offer, which is subject to approval by shareholders of RiskMetrics, consists of $16.35 in cash and 0.1802 shares of MSCI per share of RiskMetrics. The combined company would have approximately $750m of revenues and 2,000 employees across 20 countries. To support the buy-out, Ethan Berman, chief executive officer of RiskMetrics Group, and other RiskMetrics shareholders, said they had entered into an agreement with MSCI through which they will vote approximately 54% of RiskMetrics shares in favour of the transaction. Private equity firms, General Atlantic Partners, Technology Crossover Ventures and Spectrum Equity own 46% of RiskMetrics, while part of the remaining shares are listed in New York.
