Global ETF News Older than One Year
Independent firms will shape 2010 asset management M&A
Janaury 8, 2010--M&A in the global asset management industry in 2009 was dominated by mega-deals, with a record nine transactions announced involving firms with more than USD100bn in assets under management.
Yet several deals in the fourth quarter signal a new phase driven by a greater number of transactions primarily involving independent firms, according to the financial institutions group of Jefferies.
Source: ETF Express
EDHEC-Risk Institute Announces Rebranding of its Risk and Asset Management Research Centre
January 6, 2010--EDHEC-Risk Institute, the leading centre for asset and risk management research, announced today that the official name for the holding entity governing its entire range of activities would henceforth be ‘EDHEC-Risk Institute’.
Formerly called the ‘EDHEC Risk and Asset Management Research Centre’, EDHEC-Risk Institute was set up in 2001 to conduct world-class academic research and highlight its applications to the industry.
In keeping with this mission, the institute systematically seeks to validate the academic quality of its research through publications in leading scholarly journals, implements a multifaceted communications policy to inform investors and asset managers on state-of-the-art concepts and techniques, and develops business partnerships to launch innovative products.
Professor Noël Amenc, Director of EDHEC-Risk Institute, said “Over the past nine years, the brand name ‘EDHEC-Risk’ has become synonymous with state-of-the-art financial research applied to asset management. We felt that this widely-recognised brand name should be shared across the whole range of our activities that benefit from the involvement of the EDHEC-Risk research team, whether educational activities (the EDHEC-Risk Institute PhD in Finance, the EDHEC-Risk Institute Executive MSc in Risk and Investment Management and the joint CFA Institute/EDHEC-Risk Institute Advances in Asset Allocation Seminars); research publications and debates with the industry (EDHEC-Risk Institute Position Papers and Publications); conferences (the EDHEC-Risk Alternative Investment Days and the EDHEC-Risk Institutional Days); or products and services (EDHEC-Risk Indexes).”
Source: EDHEC-Risk Institute
3 Chinese Companies Listed on NASDAQ in 2009, More Than Any ther U.S. Exchange
Total of 124 Chinese Companies Listed on NASDAQ
January 6, 2010--Senior NASDAQ OMX officials
today announced that a record 33 Chinese companies, the most of any
U.S. exchange, listed on the NASDAQ Stock Market, an exchange of NASDAQ
OMX, in 2009. A total of 124 Chinese companies now list on NASDAQ,
including 102 from mainland China and 22 from Taiwan, Hong Kong and
Macau. NASDAQ recently celebrated its 100th milestone listing from
mainland China, China Nuokang Bio-Pharmaceutical Inc. (NKBP), a
healthcare company that focuses on blood and cardiovascular treatments.
"The NASDAQ Stock Market is the exchange of choice for innovative,
growth-oriented companies across all key sectors of China's economy,"
said Eric Landheer, Head of Asia Pacific for NASDAQ OMX. "That's why
more than 33 Chinese companies chose to list on our exchange in 2009."
"Every day we talk to Chinese companies about how they can access the
world's largest capital market with the highest listing standards and
greatest liquidity," said Yeeli Hua Zheng, Chief Representative in
China for NASDAQ OMX. "Chinese companies want to go abroad in order to
expand their investor base and enhance their global brand, and they are
doing so by listing on NASDAQ, the home of innovation and growth."
Recent switches of Chinese companies from NYSE to the NASDAQ Stock
Market include Hong Kong High Power Technology (HPJ), H1N1 vaccine
manufacturer Sinovac Biotech (SVA) and sportswear manufacturer and
retailer Exceed (EDS). During 2009, a total of 24 companies have
switched or announced their intent to switch from NYSE to the NASDAQ
Stock Market, including Vodafone, Mattel, Dreamworks and Micron.
The 124 Chinese listed companies on NASDAQ include Baidu, NASDAQ's
largest listed company in China and a member of the prestigious
NASDAQ-100 Index(R), Asia Info, CNinsure, Inc., JA Solar, Ctrip.com
International Ltd., Home Inns and Hotels, Sohu and Sina.
Source: NASDAQ OMX
NASDAQ OMX Wins FISD Outstanding Data Provider Award
The award recognizes exchanges or data providers
that most closely adhere to the FISD's best practices in customer
service and communications. The award was determined by popular vote by
the FISD Service Level & Communications working group made up of financial information industry professionals. The award, presented recently at the FISD General Meeting in New York,
was accepted by NASDAQ OMX Senior Vice President Randall Hopkins.
"NASDAQ OMX is honored to be recognized as Outstanding Data Provider of
the Year by an esteemed group of industry experts," Hopkins said. "This
recognition is especially gratifying because we were up against some
formidable competition including some of the world's leading securities
exchanges."
Tom Davin, Managing Director of FISD, said, "Hearty congratulations are
in order for NASDAQ OMX and the other four nominated exchanges. The
award recognizes the importance that clients and distributors place on
clear and timely communications from their information providers. This
award brings additional attention to the value of the Service Level and
Communications recommendations as a reference for exchanges and
information providers throughout the market data distribution chain."
The FISD developed suggested guidelines regarding communication and
notification sent by exchanges and information providers to their
customers and downstream distribution partners for events such as
system upgrades, administrative and policy changes, new product
introductions, and unplanned interruptions. For more information about
the guidelines, visit
http://archive.fisd.net/mdadmin/bpr/FISD_BPR_Exchange_SLAv20.pdf.
Source: NASDAQ OMX
Oil nears $82 on cold snap
A slew of US data - November factory orders later in the day, besides jobless claims and employment numbers later in the week - will offer clues on the health of the economy and demand outlook from the world's top oil consumer.
Markets are also keeping an eye on an oil pricing dispute between Russia and Belarus that briefly cut off supplies to the Eastern European nation. Russia on Monday said it had resumed supplies to refineries in Belarus, but tension still simmers.
Source: FIN 24
Hedge Fund Managed Accounts 2009
To find out more, read th latest report
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Source: Hedge Week
Early Estimates From BNY Mellon Reveal Almost All Asset Classes Achieved Positive Returns in 2009
This is a strong turnabout in annual performance of UK pension funds over the last 12 months. In 2008, the average UK pension fund achieved a weighted average return of -13.6% for the year ending 31 December 2008 - the first time that BNY Mellon has recorded negative yearly returns for UK pension funds since the three-year downturn at the beginning of the decade.
UK pension funds also made gains over a three-year period to 31 December 2009 with an estimated average return of 1.7% per annum. However, over this period pension funds failed to make gains against both the Retail Prices Index and the National Average Earnings Index.
According to BNY Mellon, results were mixed over longer term periods with funds achieving an estimated weighted average return of 6.4% per annum over a five-year period. Funds made real returns over this period of 3.6% per annum against the Retail Prices Index and 3.0% per annum against the National Average Earnings Index. Over 10 years to 31 December 2009 the average fund posted an estimated return of 3.2% per annum which beat the Retail Prices Index by 0.6% per annum, however, underperformed the National Average Earnings Index by 0.5% per annum.
Over the year returns were in positive territory for each of the key equity markets with one exception - Japanese Equities which posted the only negative equity return with -5.9%.
UK Equities posted 30.1% over the period while the strongest returns came from Pacific Ex Japan Equities with 50.7% and Emerging Market Equities with 58.9%.
Bonds were negative during 2009 with UK Bonds returning -1.2% and Overseas Bonds providing -9.7%. Index-Linked Gilts performed well in comparison returning 6.4% over the same period. Property continued to struggle with this sector returning -5.6%.
Commenting on the results, Alan Wilcock, BNY Mellon Asset Servicing' Performance and Risk Analytics Manager said: "Following the worst annual return for over 30 years in 2008, pension funds clawed back most of those losses by the end of 2009, despite the poor start to the year."
Total Fund weighted average return estimate for the year:
This is calculated by linking the three quarterly weighted averages to 30 September 2009 with an estimated weighted average for Q4 2009.
The Q4 2009 estimate is calculated by applying the weighted average asset distribution for funds at the start of Q4 2009 to the sector index returns for Q4 2009.
The weighted average return represents the total performance of the pension fund assets within our sample.
The weighted average is used in preference to the simple unweighted average, which takes no account of fund asset size.
Source: BNY Mellon Asset Servicing
Total Trading Volume at Eurex and ISE at 2.65 Billion Contracts in 2009
At Eurex, equity index derivatives were the largest segment in 2009 with a total volume of 798 million contracts (2008: 1 billion). Derivatives on the Dow Jones EURO STOXX 50® index were the largest single product with 333 million futures and 300 million options. The equity derivatives segment (options and single stock futures) saw 421 million contracts (2008: 480 million). In 2009, the interest rate derivatives segment reached a total of 466 million contracts (2008: 658 million). The dividend derivatives product suite, launched in summer 2008, recorded the strongest growth and totaled 2.6 million contracts.
In December 2009, the Eurex derivatives markets reached an average daily volume of 8.85 million contracts; thereof 6.15 million contracts traded at Eurex (Dec 2008: 6.15 million) and 2.7 million contracts traded at the ISE (Dec 2008: 2.66 million). In December, a total of 179.2 million contracts were traded on both exchanges, thereof Eurex with 123.0 million (Dec 2008: 116.8 million) and ISE with 59.8 million contracts (Dec 2008: 58.6 million).
At Eurex, equity index derivatives recorded the highest turnover among all product segments in December 2009 with 54.5 million contracts (Dec 2008: 64.0 million). The top equity index derivative was the future on the Dow Jones EURO STOXX 50 index with 26.0 million contracts; another 16.1 million options on this index were traded.
29.0 million contracts were traded in equity derivatives, compared with 21.2 million y-o-y. Within this segment, equity options traded 19.5 million contracts and single stock futures another 9.5 million contracts. A total of 39.2 million contracts were traded in the interest rate derivatives segment in December 2009, an increase of 25.5 percent compared to the same period last year (Dec 2008: 31.2 million).
Eurex Repo, which operates CHF and EUR repo markets, continued to grow in 2009. All Eurex Repo markets grew by 16 percent and reached average outstanding volume of 152.5 billion euro. The secured money market segment, GC Pooling, had a new record with average outstanding volume of 73.0 billion euro. In December 2009, the Eurex Repo markets totaled an average outstanding volume of 146.8 billion euro, thereof GC Pooling with the new record figure of 84.3 billion euro (Dec 2008: 57.8 billion euro).
The electronic trading platform Eurex Bonds, which rounds out Eurex’s fixed-income product range, traded volume of 5.2 billion euro (single counting) in December 2009; in December 2008 it was 4.9 billion euro. In 2009, Eurex Bonds traded a total volume of 87.3 billion euro (single counted), compared with 97.4 billion euro in 2008.
Source: Eurex
Strongest spot price increases since 1970
Spot commodity prices, as measured by the S&P GSCI, the most widely followed benchmark for commodity markets, rose 50.4 per cent last year, the strongest annual increase since this series began in 1970.
Commodities ended the year on a high with US crude oil touching $80 a barrel in the final trading session and copper, lead and zinc all enjoying price gains of more than 100 per cent over the year.
Source: FT.com
BATS Exchange Reports Record Volume In 2009
BATS Exchange’s 2009 average daily matched volume of 1 billion shares represents an increase of
approximately 20% from 830.6 million in 2008.
BATS Europe, the fast-growing Multilateral Trading Facility (MTF), earned record overall European
market share for the fourth consecutive month with approximately 4.0% in December and set a new
market share record in the FTSE MIB with 5.8% for the month. BATS Europe also recorded approximately 8.0% market share in the FTSE 100 and 5.1% in the FTSE 250, its second highest
average monthly showing in the two indices. The BATS Europe MTF experienced tremendous growth during 2009 and ended the year with average
daily notional value traded of more than €917 million for all markets, compared to €228 million in January,
an increase of more than 300%.
Source: BATS Exchange
January 6, 2010--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that NASDAQ OMX has been named
Outstanding Data Provider of the Year by the Financial Information
Services Division (FISD) of the Software and Information Industry
Association (SIIA).
January 5, 2010--Oil edged up towards $82 a barrel on Tuesday, posting its ninth straight day of gains, as a surprise cold snap in the key consuming regions of the United States and Europe boosted demand for heating fuel.
January 5, 2010--The race is on to offer managed account structures for hedge fund investment
UK pension funds record best return since 2005
January 5, 2010--Estimates released by BNY Mellon Asset Servicing today show that the average UK pension fund achieved an estimated weighted average return of 14.0% for the year ending 31 December 2009 - this is the best return BNY Mellon has recorded since 2005. This is an estimated real return of 14.9% when measured against the Retail Price Index for 2009 and an estimated 12.8% when measured against the National Average Earnings Index.
January 4, 2010--The international derivatives markets of Eurex closed out 2009 with a turnover of more than 2.65 billion contracts, compared with 3.17 billion in the record year 2008. This year’s figure splits into 1.7 billion contracts traded at Eurex and 960 million contracts traded at the International Securities Exchange (ISE). This corresponds to a daily average trading volume of 10.5 million contracts compared with 12.5 million y-o-y.
January 4, 2010-The scale and rapidity of the rebound in commodity prices in 2009 surprised investors after the meltdown in financial markets in 2008 and the subsequent economic recession.
January 4, 2010--BATS Global Markets, an innovative global financial markets technology company, reports that BATS Exchange recorded 9.3% US matched market
share in December and earned record average daily matched volume in 2009.
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