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Component Changes Made To Dow Jones Islamic Market Malaysia Titans 25 Index
December 3, 2009--Dow Jones Indexes, a leading global index provider, today announced that Sarawak Energy Bhd (Malaysia, Utilities, 2356.KU) will be removed from the Dow Jones Islamic Market Malaysia Titans 25 Index.
Sarawak Energy Bhd (Malaysia, Utilities, 2356.KU) will be replaced by Maxis Bhd (Malaysia, Telecommunications, 6012.KU) in the Dow Jones Islamic Market Malaysia Titans 25 Index.
Sarawak Energy Bhd is being removed due to its acquisition by Delegateam Sdn Bhd (noncomponent). All changes will be effective before the open of trading on Wednesday, December 9, 2009.
The Dow Jones Islamic Market Malaysia Titans 25 Index measures the performance of the top 25 stocks in the Dow Jones Islamic Market Malaysia Index, which comprises Malaysia-domiciled companies that pass rules-based screens for Shari'ah compliance.
Further information on the Dow Jones Islamic Market Malaysia Titans 25 Index can be found at http://www.djindexes.com.
Company additions to and deletions from the Dow Jones Islamic Market Malaysia Titans 25 Index do not in any way reflect an opinion on the investment merits of the company.
IMF Aims at Building Stronger Post-Crisis Global Economy and International Monetary System
December 3, 2009--The International Monetary Fund (IMF) will continue to help bolster the nascent global economic recovery and build a stronger post-crisis world economy through its policy advice and by advancing the objectives for reform of the four Istanbul decisions: the Fund’s mandate; its financing role; multilateral surveillance; and governance.
The work program discussed by the Fund's Executive Board, as outlined below, aims to achieve these objectives.
“While the Fund has been able to meet the crisis with a range of innovative responses, the formal mandate of the Fund may not fully capture what is now expected of an effective guardian of global macro-financial stability,” IMF Managing Director Dominique Strauss Kahn told the Executive Board during discussion of the Work Program. “This work program is ambitious and achievable and, in any event, necessary. The Fund’s ability to deliver the demanding tasks assigned to it has been a key to its ability to help countries address the crisis and we must keep up the momentum.”
View the Statement by the Managing Director on the
Work Program of the Executive Board
Average Daily Volume of 9.4 Million Contracts at Eurex and ISE in November
December 2, 2009--At the international derivatives markets of Eurex, an average daily volume of 9.4 million contracts was traded in November 2009; y-o-y the figure was 10.4 million. This year’s figure splits into 6.3 million contracts traded at Eurex (Nov 2008: 7.0 million) and 3.1 million contracts were traded at the International Securities Exchange (ISE) (Nov 2008: 3.4 million). In November, a total of 193.0 million contracts were traded on both exchanges, thereof Eurex with 131.9 million and ISE with 61.1 million, compared with 140.5 million contracts at Eurex and 65.2 million at ISE y-o-y. In the previous month October 2009, Eurex had 141.6 million contracts, ISE another 87.2 million.
At Eurex, the equity index derivatives segment recorded the highest turnover, totaling 64.0 million contracts, compared with 79.7 million y-o-y. Thereof, 25.2 million contracts were traded in the Dow Jones EURO STOXX 50® index future and 24.1 million contracts in the Dow Jones EURO STOXX 50 index option. Strong demand was observed in the DAX® index option with 9.7 million contracts, the DAX-Future totaled 3.2 million contracts. Trading volume in equity derivatives (equity options and single stock futures) grew and accounted for 29.1 million contracts (Nov 2008: 26.4 million), thereof equity options with 25.3 million and single stock futures with 3.8 million contracts.
The interest rate derivatives segment grew by 12 percent and reached 38.5 million contracts compared with 34.3 million y-o-y. The Euro Bund Future totaled 15.3 million contracts, the Euro Bobl Future 8.7 million contracts and the Euro Schatz Future 10.7 million contracts. The Euro BTP future totaled more than 77,000 contracts, a similar level like in October 2009.
Eurex Repo, which operates CHF- and EUR repo markets, grew slightly and accounted an average outstanding volume of €149.2 billion (Nov 2008: €144.1 billion). The secured money market segment GC Pooling continued to grow with a rate of 60 percent y-o-y, average outstanding volume reached €80.4 billion (Nov 2008: €50.2 billion). The whole EUR Repo segment grew by 26 percent and totaled €103.3 billion (Nov 2008: €81.8 billion).
The electronic trading platform Eurex Bonds, which rounds out Eurex’s fixed-income product range, saw a volume of €9.2 billion (single counted) in November, compared with €7.8 billion in November last year (an increase of 18 percent) and €7.0 billion in October 2009 (an increase of 31 percent).
BATS EXCHANGE REPORTS 9.6% NOVEMBER MARKET SHARE
BATS;EUROPE SETS ANOTHER RECORD
December 1, 2009--– BATS Global Markets, an innovative global
financial markets technology company, reports that BATS Exchange earned 9.6% US matched market
share in November on its single trading platform, while BATS Europe set a new record in the European
market overall with 3.8% for the month.
The fast-growing BATS Europe MTF also recorded a new market share record for the month in the FTSE
250 index with 5.4% while maintaining strong FTSE 100 market share with 7.8%.
“We are very pleased with BATS’ global growth and remain committed to meeting the trading needs of our customers as we prepare to launch two new trading platforms in the first half of 2010,” said Joe Ratterman, CEO of BATS Exchange and BATS Global Markets.
Thirty financial groups on systemic risk list
November 30, 20009--Thirty global financial institutions make up a list that regulators are earmarking for cross-border supervision exercises, the Financial Times has learnt.
The list includes six insurance companies – Axa, Aegon, Allianz, Aviva, Zurich and Swiss Re – which sit alongside 24 banks from the UK, continental Europe, North America and Japan.
The list has been drawn up by regulators under the auspices of the Financial Stability Board, in an effort to pre-empt systemic risks from spreading around the world in any future financial crisis
FTSE Group Enhances Real Time Index Calculation Service
November 30, 2009--FTSE Group, the award winning global index provider, today announces that it has enhanced its real time index calculation service on select FTSE blue chip indices with corresponding real time total return indices (TRI), which are now available on a streaming, intra-second basis through real-time market data vendors and other trading platforms.
With the launch of the enhanced real time service, FTSE now provides users access to the fastest index calculations and the broadest range of real time total return index data. The enhanced service includes 88 streaming FTSE blue chip indices including the widely tracked FTSE 100, FTSE MIB, FTSE/Xinhua China 25 and FTSE/Xinhua A50. Prior to this enhancement, FTSE real time indices were updated every 15 seconds and TRI values were available only on an end-of-day basis.
FTSE’s real time, streaming indices provide a better reflection of market activity when trading underlying derivatives, ETFs and stocks in a FTSE index, and the ability to respond to market events more rapidly. Real time TRI values allow investor to make intra-day valuations of their index portfolios.
Dubai Debt Payment Concern Spurs Surge in Global Credit Risk
Novembr 27, 2009--Dubai’s attempts to delay debt repayments spurred an increase in the cost of insuring government and company bonds from default around the world and may curb lending throughout the Persian Gulf.
The cost to protect U.S. corporate bonds from default rose to the highest in almost a month, trading in a benchmark credit derivatives index shows. Credit-default swaps on Dubai’s sovereign debt surged 106 basis points to 646.6, up from 304 basis points on Nov. 19, according to CMA DataVision. Contracts on governments from Abu Dhabi to Qatar, Malaysia and South Korea also increased.
U.S. and emerging market stocks slumped and commodities dropped the most since July after Dubai World, the government investment company burdened by $59 billion of liabilities, surprised the market by asking for a “standstill” agreement from creditors on Nov. 25. Its debt includes $3.52 billion of bonds due Dec. 14 from property unit Nakheel PJSC.
S&P to clarify rankings on capital strength
November 24, 2009--Standard & Poor’s acknowledged on Tuesday that a new ranking of banks’ capital strength, which had sparked concerns over lower-ranked institutions such as UBS and Citigroup, might have been misleading.
The ratings agency published a study this week ranking 45 of the world’s leading financial institutions by a new risk-adjusted capital (RAC) ratio designed to better capture balance sheet strength.
ETF Landscape: Annual Review of Institutional Users of ETFs in 2008
November 24, 2009--We are pleased to announce that we have just published our Annual Review of Institutional Users of ETFs which looks at the use of ETFs by institutional investors globally who have reported holding one or more ETFs in their mutual fund holding disclosures, or in different filing sources including 13F, 13D and 13G, proxy or other declarable stakes during any of the four quarters of 2008 based on data compiled by Thomson Reuters.
In the four quarters of 2008 a total of 2,926 institutional investors worldwide have reported using one or more ETFs. Over the past 11 years, the number of institutional users has increased 1,673%. This represents a CAGR of 29.9%.
Institutional investors in 42 countries have reported using at least one ETF in 2008. The United States, the United Kingdom, Canada, Spain and Switzerland have the largest number of institutional users and account for 83%.
Over half of the largest institutional investors (those with assets over US$10 Bn) report using one or more ETFs, while less than a quarter of institutions with assets under US$250 Mn report using ETFs. The overall penetration rate is still very low at 6.7% of reporting institutions.
To request a copy of the report click here
U.S. Treasury and India's Ministry of Finance Announce Historic Partnership to Guide Economic Cooperation
Secretary Geithner to Visit India in Early 2010
November 24, 2009-- U.S. Secretary of the Treasury Tim Geithner and Finance Minister Pranab Mukherjee announced the establishment today of a new U.S.-India Economic and Financial Partnership to strengthen bilateral engagement and understanding on macroeconomic, financial sector, and infrastructure-related issues. Secretary Geithner will visit India in early 2010 for the Partnership's launch with Finance Minister Mukherjee.
Both countries recognize the importance of expanding bilateral economic engagement, noting the rapid growth of U.S.-India economic ties and the increasing range of global macroeconomic and financial issues on which the United States and India cooperate. The Economic and Financial Partnership is a significant elevation of existing bilateral and multilateral economic dialogue between the United States and India, and will serve as a platform for greater cooperation on economic issues of importance to both nations.
The Partnership will focus on three broad areas for discussion – macroeconomic policy, the financial sector, and infrastructure development – and will meet at the Cabinet level once a year, alternately in the United States and India, led by Secretary Geithner and Minister Mukherjee. Working group and sub-cabinet level meetings will be held throughout the year to advance discussions on specific economic policy areas.
Additional details on the Partnership and its launch in 2010 will be announced in the months to come.
