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HKEx to Introduce RMB Currency Futures on 17 September
August 22, 2012--Hong Kong Exchanges and Clearing Limited (HKEx) will introduce renminbi (RMB) currency futures on 17 September. The US Dollar vs Renminbi (Hong Kong) or USD/CNH* Futures contract will be the world's first deliverable RMB Currency Futures.
USD/CNH Futures will require delivery of USD by the seller and payment of the Final Settlement Value in RMB by the buyer at maturity. The futures will be quoted in RMB per USD (for example, RMB 6.2486 per USD) and margined in RMB, with the trading and settlement fees charged in RMB. The final settlement price will be based on the spot USD/CNY(HK) fixing published by the Treasury Markets Association (TMA) at 11:15 am on the Last Trading Day (the fixing is available on TMA's website).
The following contract months will be available for trading on 17 September: October 2012, November 2012, December 2012, January 2013, March 2013, June 2013 and September 2013. Details of the contract specifications and a list of information vendor codes for USD/CNH Futures are attached below (they will also be available on the HKEx website). Margin requirements and market makers will be announced before the launch date.
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Source: HKEx
Deutsche Bank-Equity Derivatives and Quantitative Strategy Research-Asia:Asia-Pac ETF+ Monthly Directory : July 2012 ETPs
August 21, 2012--This document includes all Asia-Pacific listed exchange-traded funds (ETFs) and exchange-traded commodities (ETCs).
The directory is organized by country and asset-class-related sub sections. Within each sub section it has been sorted by ETP issuer by alphabetical order and by AUM in descending order. A number of key information points per product have been included in order to enable the reader to get an overview in their own area of interest. Among the key numeric information we include avg. daily turnover, assets under management, and cash flows (all in $US). If you have any questions about any of the products listed, or any suggestions on how to improve the directory going forward, please do not hesitate to get in touch.
The following link will be available for 90 days. For more information, please click on the link for the full PDF. If you have any trouble viewing the link, copy and paste the link in a browser.
http://pull.db-gmresearch.com/p/569-28E1/51650251/Asia-Pac_ETF+_Monthly_Directory_-_July_2012_ETPs.pdf
Source: Deutsche Bank-Equity Derivatives and Quantitative Strategy Research -Asia
SSE 5-Year China Treasury Note (Futures Deliverables) Index and Other Two Indexes To Be Launched
August 21, 2012--Designed to serve as a new investable benchmark for bond investors as well as to promote innovation of China bond market, CSI today announced the upcoming launch of SSE 5-Year China Treasury Note (Futures Deliverables) Index, SSE Convertible Bond Index and CSI Convertible Bond Index on Sep 12th 2012.
The base date of the former index is December 31st, 2007. The base index is 100. The latter two index’s base date is December 31st, 2002, The base index is 100.
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Source: Shanghai Stock Exchanges
India Approves First Seven Hedge Funds
August 21, 2012--Following in the footsteps of the world's largest country, the world's second-largest country is opening its doors to hedge funds.
The Security and Exchange Board of India has given seven hedge funds its seal of approval over the past month, under its new Alternative Investment Funds regulatory regime, unveiled in March. The first received its registration on July 23; the rest were approved this month.
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Source: FinAlternatives
DB-Equity Derivatives and Quantitative Strategy Research - Asia-Asia-Pac ETF Market Weekly Review : ETP AUM remains near all-time highs
August 20, 2012--Market Review
Last week, The Asia-Pacific region had mixed markets. From north to south, Japan (Nikkei 225) gained 3.05%, Korea (KOSPI2) fell by 0.27%, China (CSI 300) decreased by 3.59%, Hong Kong (HSI) was down by 0.10%, Singapore (FSSTI) climbed 0.26%, and Australia (S&P/ASX 200) advanced by 2.17% over the previous week.
New Launch Review
There was no new ETP listing in the last week.
Turnover Review
Asia-Pacific ETP turnover totaled $5.5bn for last week, 24% down from the previous week’s total. South Korea continued to be on top of the turnover ranking with $2.2bn, followed by China ($1.5bn), Hong Kong ($1bn), Japan ($0.5bn), and Taiwan ($0.2bn). Among Equity ETFs, Emerging Country, Leveraged Strategy, Asia Pac Developed Country, and Short Strategy ETFs had total turnover of $2.6bn, $1.1bn, $0.8bn, and $0.7bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $40m for the last week.
Assets Under Management Review
Last week, Asia-Pacific ETP AUM decreased by $0.5bn and ended at $115.7bn. On a year-to-date basis, Asia-Pacific ETP market is up by $24.2bn or 26.4% above last year’s closing.
The following link will be available for 90 days. For more information, please click on the link for the full PDF.
If you have any trouble viewing the link, copy and paste the link in a browser.
http://pull.db-gmresearch.com/p/569-5E77/49550685/Asia-Pac_ETF_Market_Weekly_Review.pdf
Source: Deutsche Bank - Equity Derivatives and Quantitative Strategy Research - Asia
Korea transaction tax could halve number of derivatives transactions
August 20, 2012--Proposal for a transaction tax on futures and options could have a dramatic impact on Korea's derivatives market
Turnover in the derivatives market in South Korea could be reduced by over 50% if a proposed new transaction tax on derivatives is approved, say market participants.
The Korean ministry of strategy and finance announced the government's proposed tax law amendments for 2013 that impose a 0.001% tax on Kospi 200 index futures trades, and a 0.01% tax on Kospi 200 index options transactions, effective from January 1, 2016.
http://www.risk.net/asia-risk/news/2199414/korea-transaction-tax-could-halve-number-of-derivative-transactions
Source: Risk.net
SSE Market Value 100 Index To Be Renamed
August 20, 2012--SSE and CSI together announced that the SSE Market Value 100 Index will be renamed as SSE Market Value Top 100 Index on Sep 4, 2012.
The shortened name will be changed into Market Value Top 100. The index's Chinese full name as well as its Chinese shortened name will also be changed accordingly. The index methodology remains unchanged.
Source: Shanghai Stock Exchange
Three Thematic Indices: SZSE SME Dividend Index and the other Two Indices are Launched Today
August 20, 2012--In order to guide the listed companies to positively reward their shareholders, improve corporation management, exercise the social responsibility, Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. jointly declared on August 20, 2012 to launch SZSE SME Dividend Index (Code: 399649, Abbreviation: SME Dividend),
SZSE SME CORP Governance Index (Code: 399650, Abbreviation: SME CORP Governance) and SZSE SME CSR Index (Code: 399651, Abbreviation: SME CSR). All of three indices take June 30, 2009 as the base date, and 1000 points as base point.
The aforesaid indices select sample stocks from companies listed in SME board. Comprehensively taking factors of profit distribution rates, market proportion of dividend in to account, SZSE SME Dividend Index selects 50 companies that have stable profit distribution history for sample stocks; SZSE SME CORP Governance Index selects 50 companies, which are well managed and have high management appraisal records according to the CNINFO comprehensive evaluation system of listed companies governance structure; SZSE SME CSR Index takes the factors of the total contribution made by the listed company to the country, employees, shareholders and creditors and thereof proportion to the company’s net asset in to account, and selects 50 companies to form the sample. All three indices set 10% as upper weights for specific stock to avoid the overweight of specific stock.
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Source: Shenzhen Stock Exchange
SINO Real Estate Index is Launched Today
August 20, 2012--Shenzhen Securities Information Co., Ltd. declared on August 20, 2012 to launch SINO Real Estate Index, which is designed to reflect the return of real estate stocks, providing investment targets in industry segments, propelling the development of index fund products.
SINO Real Estate Index (Code: 399393, Abbreviation: SINO Real Estate) takes December 31, 2004 as base day, and 1000 points as base point.
Sample space of SINO Real Estate Index is formed by A-share stocks, whose primary industry are financial real estate or secondary industry are real estate in light of CNINFO Industry Classification Standard, from Shanghai and Shenzhen markets. With average current market capitalization and market proportion of thereof average trading volume weighted in the light of 2:1, the stocks from the sample space are ranked; the top 50 stocks will be selected as sample stocks for the index. 15% upper weight is set for specific stock in order to avoid the phenomenon of specific sample stock being overweighed.
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Source: Shenzhen Stock Exchange
Comments on proposed CFTC cross--border releases on swap regulations
August 20, 2012--The Financial Services Agency and the Bank of Japan sent a comment letter on August 13, 2012 to the CFTC regarding the proposed CFTC cross-border releases on swap regulations issued for public comment.
For our comments, please follow the link below.
view JFSA-BOJ joint comment letter on proposed CFTC cross-border releases on swap regulations
Source: FSA Japan
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