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Top asset managers lose USD16trn in a year
September 5, 2009--Assets managed by the world’s largest 500 fund managers fell by over 23 per cent in 2008 to USD53.4trn, down from USD69.4trn the year before, according to the Pensions & Investments/Watson Wyatt World 500 ranking.
The fall in assets is the first since 2002 and the largest since the research began in 1996.
Carl Hess, global head of investment consulting at Watson Wyatt, says: “2008 was a dreadful year for fund managers with the majority posting record losses. Even after the strong market recoveries since March this year, our expectation is that values will remain below 2007 levels, meaning the outlook for this year’s revenues and earnings in the sector remain poor.”
Gold Q3 ETF inflows dwindle, investors switch
October 5, 2009--Inflows into gold-backed exchange-traded funds dwindled in the third quarter as investors switched their interest to other products, with the holdings of six funds tracked by Reuters rising only 1 percent.
The six -- the SPDR Gold Trust GLD, ETF Securities' ETFS Physical Gold (PHAU.L) and Gold Bullion Securities (GBSx.L), and products operated by Julius Baer, Zurich Cantonal Bank and iShares -- saw inflows of just over 697,000 ounces in Q3, against 995,000 ounces in the second quarter.
Gold stays above $1,000 on softer dollar, ETF rises
Wariness of long futures caps, physical demand underpins
Spot gold seen in $980-$1,010/oz range in near term
SPDR Gold holdings XAUEXT-NYS-TT up, iShares Silver slips
October 5, 2009--Gold stayed above $1,000 an ounce on
Monday as the dollar remained pressured after last week's jobs
data pushed the currency down broadly on concerns the U.S.
economic recovery may not be as robust as previously thought.
Traders remained wary of a sudden liquidation of speculative
long positions in U.S. gold futures even after such positions
eased slightly from record highs in the week ended Sept. 29,
putting a cap on prices.
At the same time, physical demand emerged at the market's lows last week to underpin prices.
ICE Reports Record September And Third Quarter ADV - OTC Energy Commissions Second Highest Quarter On Record - $2.75 Trillion Cleared in CDS
October 2, 2009-IntercontinentalExchange (ICE), operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today reported strong growth in futures volumes and OTC energy commissions in the third quarter of 2009.
Each of ICE's futures exchanges recorded year-over-year average daily volume (ADV) increases for the month of September 2009.
ICE operates three regulated futures exchanges: ICE Futures Europe(R), ICE Futures U.S.(R) and ICE Futures Canada(R).
-- September 2009 ADV across all three ICE futures exchanges increased 9% over September 2008, to a record 1,168,431 contracts, including record ADV at ICE Futures U.S.
-- Third quarter 2009 ADV for all ICE Futures contracts increased 24% over third quarter 2008, to a record 1,062,429 contracts. ICE Future Europe established new ADV and total volume records of 676,020 and 43,265,279 contracts, respectively, in the quarter.
-- ADV for the first nine months of 2009 for all ICE Futures contracts was 1,031,737 contracts, up 12% over the same period of 2008.
Component Changes Made To Dow Jones Select Dividend Indexes
October 2, 2009--Dow Jones Indexes, a leading global index provider announced on September 28, 2009, changes in the Dow Jones Italy Select Dividend 20, Dow Jones Italy Titans 30, Dow Jones Switzerland Titans 30 and Dow Jones Emerging Markets Oil & Gas Titans 30 indexes.
In the Dow Jones Italy Select Dividend 20 Index, Alleanza Assicurazioni S.p.A. (Italy, Insurance, AL.MI) will be replaced by Atlantia S.p.A. (Italy, Industrial Goods & Services, ALT.MI).
In the Dow Jones Italy Titans 30 Index, Alleanza Assicurazioni S.p.A. (Italy, Insurance, AL.MI) will be replaced by Ansaldo STS S.p.A. (Italy, Industrial Goods & Services, STS.MI).
Alleanza Assicurazioni S.p.A. (Italy, Insurance, AL.MI) is being removed from the Dow Jones Italy Select Dividend 20 and Dow Jones Italy Titans 30 indexes due to its acquisition by Assicurazioni Generali S.p.A. (Italy, Insurance, G.MI).
In the Dow Jones Switzerland Titans 30 Index, Julius Baer Holding AG (Switzerland, Financial Services, BAER.VX) will be replaced by Julius Baer Group (Switzerland, Financial Services, BAER.EB). Julius Baer Holding AG is being removed due to its spin-off of Julius Baer Group. The new market capitalization of the parent company, Julius Baer Holding AG, does not meet the index’s eligibility requirements.
In the Dow Jones Emerging Markets Oil & Gas Titans 30 Index, Petrobras Energia Participaciones S.A. (Argentina, Oil & Gas, PBE.BA) will be replaced by Petrobras Energia S.A. (Argentina, PESA.BA, Oil & Gas). Petrobras Energia Participaciones S.A. is being removed due to all of its shares being acquired by Petrobras Energia S.A. under the company’s restructuring.
All changes in the Dow Jones Emerging Markets Oil & Gas Titans 30 Index will be effective before the open of trading on Wednesday, September 30, 2009.
All changes in the Dow Jones Italy Select Dividend 20 Index, Dow Jones Italy Titans 30 Index and Dow Jones Switzerland Titans 30 Index will be effective before the open of trading on Thursday, October 1, 2009.
Further information on the Dow Jones Italy Select Dividend 20, Dow Jones Italy Titans 30, Dow Jones Switzerland Titans 30 and Dow Jones Emerging Markets Oil & Gas Titans 30 Indexes can be found on http://www.djindexes.com/
Company additions to and deletions from the Dow Jones Italy Select Dividend 20, Dow Jones Italy Titans 30, Dow Jones Switzerland Titans 30 and Dow Jones Emerging Markets Oil & Gas Titans 30 indexes do not in any way reflect an opinion on the investment merits of the company.
Transcript of Press Briefing on the International Monetary Fund’s World Economic Outlook by Olivier Blanchard, Economic Counsellor and Director of the Research Department
October 1, 2009--Let me start with the good news. This is a first in a few WEO conferences. The recovery has started; financial markets are healing; and in most countries growth will be positive for the rest of the year as well as in 2010.
Our forecasts are for output to increase by 1.7 percent for advanced countries in 2010, by 5.5 percent for emerging market and developing countries in 2010, and so far world output to increase by 3.2 percent in 2010 (on a fourth quarter to fourth quarter basis). For those who follow the WEO each time, you can see that this is an upward revision of 0.6 percent relative to our April forecasts.
Now, this is clearly good news. A year ago, such positive growth seemed far from assured. Where we are today is the result of strong policy responses throughout the world on the monetary front, on the fiscal front, and on the financial front. Responses have supported demand, decreased uncertainty, and decreased systemic risk in financial markets. By doing so, they have led to a turnaround after the large decrease in activity in the last quarter of 2008 and the first quarter of 2009.
Now, for the less good news. For the moment, the recovery is largely accounted for by strong public spending and inventory adjustment by firms. This is true of the United States and most other advanced countries, but this is also true of emerging market countries. Strong export performance in Asia, for example, reflects in good part the restocking demand of firms in advanced countries.
World Economic Outlook database
September Statistics Report From The NASDAQ OMX Nordic Exchanges
October 1, 2009--Share Trading in September
The value of average daily share trading amounted to ISK 438 billion, as compared to ISK 400 billion during the past 12-month period. The average number of trades per business day amounted to 207,232, as compared to 220,384 during the past 12-month period. The total market cap of listed companies at NASDAQ OMX Nordic Exchange amounted to ISK 106,352 billion, compared to ISK 83,089 billion in September 2008.
Derivatives Trading
The average daily trading volume in derivative products amounted to 535,331 contracts, as compared to 524,611 contracts during the past 12-month period. The average daily trading volume in share products was 242,711 contracts, as compared to 231,010 contracts during the past 12 month period. The average daily trading volume in index products was 171,961 contracts, compared to 210,975 contracts during the past 12-month period. Fixed-income derivatives traded 120,659 contracts, compared to 82,627 contracts during the past 12-month period.
Listings and Members
We have introduced 3 new members during September. There was 1 new company on Main market during September. 1 company has been admitted to trading on First North Premier during the month. Since we launched First North Premier in February 2009, 25 companies have been admitted to trading in the segment.
Average Daily Volume of 10.6 Million Contracts at Eurex and ISE in September
October 1, 2009--At the international derivatives markets of Eurex, an average daily volume of 10.6 million contracts was traded in September (Sep 2008: 15.2 million). Thereof, 6.9 million contracts were traded at Eurex (Sep 2008: 10.4 million) and 3.7 million contracts were traded at the International Securities Exchange (ISE) (Sep 2008: 4.8 million). In September, a total of 230.8 million contracts were traded on both exchanges, thereof Eurex with 152.5 million and ISE with 78.3 million, compared with 229.4 million contracts at Eurex and 101.5 million at ISE in September 2008.
The equity index derivatives segment recorded the highest turnover, totaling 74.1 million contracts (Sep 2008: 122.3 million). Thereof, 31.9 million contracts were traded in the Dow Jones EURO STOXX 50® index future and 26.4 million contracts in the Dow Jones EURO STOXX 50 index option. The DAX® index future and option saw a combined volume of 12.6 million contracts. Trading volume in equity derivatives (equity options and single stock futures) accounted for 28.4 million contracts compared with 34.5 million in September 2008.
The interest rate derivatives segment reached 49.6 million contracts (Sep 2008: 72.6 million). The Euro Bund Future totaled 19.4 million contracts, the Euro Bobl Future 11.7 million contracts. The Euro Schatz Future recorded its best monthly result in 2009 with 13.9 million contracts. The new Euro BTP future – launched on 14 September – reached already more than 62,000 contracts.
Eurex Repo, which operates CHF- and EUR repo markets, continued to grow y-o-y. The outstanding volumes increased by 5 percent to an average outstanding volume of 149.5 billion euros (Sep 2008: 142.1 billion euros). Driving growth again was the secured money market segment GC Pooling with a growth rate of 57 percent y-o-y, average outstanding volume reached 74.1 billion euros (Sep 2008: 47.2 billion euros). The whole EUR Repo segment grew by 33 percent and totaled 100.8 billion euros (Sep 2008: 75.7 billion euros).
The electronic trading platform Eurex Bonds, which rounds out Eurex’s fixed-income product range, saw a volume of 6.5 billion euros (single counted) in September, compared with 10.2 billion euros in September last year and 6.4 billion euros in August 2009.
View Monthly statistic September 2009
BATS Exchange Reports September Market Share of 9.46%; BATS Europe Earns Record 7.21% of FTSE 100
October 1, 2009--BATS Global Markets, an innovative global financial markets technology company, reports that BATS Exchange earned 9.46% U.S. matched market share in September on its single trading platform, while BATS Europe reported record FTSE 100 market share of 7.21% for the month.
BATS Europe also hit a new intraday market share record on Sept. 25th with more than 10% of the FTSE 100 and earned 3.30% of the European market overall, its second-highest pan-European market share figure to date, nearly surpassing the previous record of 3.32% set in June. New one-day record highs were recorded for the FTSE 100 (8.7%), FTSE 250 (5.9%) and FTSE MIB (3.9%).
ETF Landscape: Industry Review, September 2009
September 30, 2009--Barclays Global Investors has just published the September 2009 edition of our monthly ETF Landscape Industry Review. This report is a review of the Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) industry through the end of August 2009.
At the end of August, global ETF assets hit an all time high of US$891Bn, 3.9% above the previous all time high of US$858Bn set in July 2009.
There were 1,773 ETFs with 3,137 listings from 95 providers on 41 exchanges around the world.
Visit Barclays Globalfor more information.
