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Some financial institutions plan to launch more ETFs
August 17, 2010-- Exchange Traded Funds (ETFs) or funds that are being traded on stock exchanges are becoming more sophisticated.
Experts said some financial institutions like Deutsche Bank and BlackRock are looking into putting more of such products in the market.
However, they warned that unfamiliarity with the products among investors and lower profit margins for financial firms could dampen demand for complex ETFs.
Less complicated Exchange Traded Funds have seen better buy-ins. For instance, they boosted the Singapore Exchange's turnover by 33 per cent to some S$5 billion in the 12 months ended June 30 this year.
There are 73 ETFs in the Singapore market compared to just one which uses more active or sophisticated investment strategies.
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Source: Channel News Asia
China’s jump signals shift in global power
August 16, 2010--To economists, China overtaking Japan as the world’s second largest economy in nominal terms is almost meaningless
In more economically important purchasing power terms China overtook Japan almost a decade ago, and the exact moment when China’s nominal US dollar gross domestic product surpasses Japan’s has a lot to do with exchange rates and technical statistical revisions.
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Source: FT.com
SMX to trade derivatives contracts
August 16, 2010--The Indian-owned Singapore Mercantile Exchange expects to capture a 3-5 per cent share of the 6.8bn commodities and derivatives contracts traded annually in Asia, its chief executive said.
The SMX, set up at a cost of S$75m (US$55m) by India’s Financial Technologies group, will announce on Tuesday that it would start trading on August 31 with four products and at least four more ready to be introduced over the next six months.
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Source: FT.com
Taiwan aims for Japan stock market agreement:
August 12, 2010-- Taiwan is aiming for a deal with Japan that will allow the two to list exchange-traded funds in each other's stock markets, Taipei media reported Thursday.
The agreement is likely to be implemented late this year at the earliest, the Commercial Times reported, citing an unnamed official with the Taiwan Stock Exchange.
Exchange-traded funds, which reflect underlying securities, would give listed Taiwanese companies access to Japanese funding, and vice versa. The Taiwan Stock Exchange was not immediately available for comment when contacted by AFP.
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Source: Asia One
MAS grants final approval to Singapore Mercantile Exchange
August 12, 2010--Approval seen as milestone towards creation of a pan-Asian exchange from Singapore.
Monetary Authority of Singapore (MAS) has granted “Approved Exchange” (AE) status to Singapore Mercantile Exchange (SMX), the final approval to operate as a regulated and licensed exchange.
SMX is the first pan-Asian multi-product commodity and currency derivatives exchange, according to a MAS report.
Mr. Jignesh Shah, Vice Chairman of SMX and Group CEO, Financial Technologies Group, said, “SMX will create a new generation international commodity and currency derivative trading platform at par with best global exchanges in New York and London. The development also stands testimony to FTIL’s domain knowledge and technological expertise in creating next generation financial markets. The approval from MAS is a significant milestone towards realizing SMX’s vision of creating a pan-Asian exchange from Singapore, one of the world’s most respected and reputed international financial centres and the best IFC from the East.”
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Source: Singapore Business
SGX seeks public opinion before launching Index Futures and Options contracts
August 12, 2010--The Singapore Exchange has said it is consulting the public on the proposed specifications for the SGX EURO STOXX 50 Index Futures and Options contracts.
The Futures contract is a standard, cash-settled futures contract based on the EURO STOXX 50 Index.
The Options contract, on the other hand, is a standard options contract based on the SGX EURO STOXX 50 Index Futures.
SGX said the proposed contracts would expand its existing suite of equity index futures and options beyond Asian-based products.
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Source: Chanel News Asia
Taiwan, Japan May Cross-List Exchange-Traded Funds
August 12, 2010-- Taiwan Stock Exchange is in talks to list exchange-traded funds in Japan to tap Asia’s largest stock market and advance its ambition of becoming an international fund-raising center.
“We have been studying it for some time but we are concerned about the demand for the product,” Taiwan Stock Exchange’s Senior Vice-President Michael Lin said in a phone interview today in Taipei, confirming a Commercial Times report. He said it’s unlikely the plan will be implemented this year. The sides have discussed listing each other’s ETFs since 2008, said Tokyo Stock Exchange Group Inc. spokesman Naoya Takahashi.
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Source: Bloomberg Business Week
India looks to shake up its banks
August 11, 2010-India’s central bank has launched a review of bank ownership regulation that is expected to lead to the re-entry into the banking sector of some of the country’s largest industrial conglomerates, such as the Tata and Reliance groups.
The discussion paper from the Reserve Bank of India opens debate on whether large domestic industrial groups should be allowed to own banks again for the first time since the country’s financial sector was nationalised in 1969.
But it also made clear that the licences would favour Indian groups by proposing tougher restrictions on investment in domestically incorporated banks by foreign companies.
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Source: FT.com
China shows further signs of slowing
August 11, 2010--China’s economy continued to slow in July even as consumer price inflation rose again, intensifying the debate about whether recent efforts to tighten policy have gone too far.
As efforts to calm the property market and reduce energy consumption began to bite, the rate of increase in industrial production, fixed asset investment and retail sales all fell in July. New banks loans and money supply growth slowed.
Inflation jumped above the 3 per cent government target to 3.3 per cent, up from 2.9 per cent the month before. But factory-gate inflation fell from 6.4 per cent to 4.8 per cent.
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Source: FT.com
TOCOM to Allow Foreign Commodity Brokers to Trade through Intermediaries
August 10, 2010--Tokyo Commodity Exchange, Inc. (“TOCOM” or the "Exchange") today announced that the Exchange enabled Foreign Commodity Brokers to participate in its market through Intermediaries and amended its Market Rules accordingly. This expands the number of ways through which a foreign market participant can trade on the TOCOM markets.
Until now, Foreign Commodity Brokers who wished to trade on the TOCOM markets needed to either acquire membership from the Exchange or consign trades directly to a TOCOM Broker Member (a member licensed to accept the consignment of trades in the commodity markets). However, recently, several Broker Members have converted their business category to “Intermediary”, under which they can intermediate the consignment of trades for commodity markets to a Broker Member, and some Foreign Commodity Brokers have also newly entered the market as Intermediaries, which led to an increased number of Intermediaries in Japan. Some of these Intermediaries actively pursue overseas marketing activities and a number of companies wished to be allowed to intermediate trades from Foreign Commodity Brokers.
In response to such needs, TOCOM has decided to lift restrictions on market access by Foreign Commodity Brokers through intermediaries in order to improve the convenience of its market. Having received approval from the Minister of Economy, Trade and Industry today, the Exchange has amended its Market Rules and Brokerage Rules accordingly and made them effective immediately.
Source: -Tokyo Commodity Exchange (TOCOM)
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