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Launch of "arrowhead", the Next-Generation Equity/CB Trading System
January 2, 2010-The Tokyo Stock Exchange (TSE) hereby announces that it has decided to launch "arrowhead", the new equity/CB trading system held to the world’s highest standards of speed and reliability, on Monday, January 4, 2010 as initially planned.
This is in line with the TSE's previous announcement that it will make the final decision of the system launch upon implimenting the final transition operation.
"arrowhead" is the next trading system developed by the TSE for the next generation cash market in order to meet the needs of investors such as high speed order placement and execution processing and to respond to reductions in sizes of orders and rapid increases in the number of transactions.
The new system is used for auction trading of stocks and CBs, and supports the Tokyo Market as an exchange system of the highest global standard for low latency, high reliability, and scalability .
Speed(1) 5 millisecond Order Response
(i)The response time for order acceptance notices has been accelerated.
(2) 3 millisecond Information Distribution(i)The latency for distribution of stock prices and quote information has been reduced.
(i)Figures based on those from prior testing.
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Source: Tokyo Stock Exchange (TSE)
Trading Volume in December 2009 and Year 2009
January 4, 2010--The trading volume of Three-month Euroyen futures was 1,125,342, increasing 5.4% in comparison to that of the prior year comparable month, and increasing 52.4% in comparison to that of the prior month, and the average daily volume was 53,588.
The trading volume of Options on Three-month Euroyen futures was 250, decreasing 98.9% in comparison to that of the prior year comparable month, and decreasing 58.3% in comparison to that of the prior month. The trading volumes for the put options and call options are 250 and 0, respectively, and the average daily volume was 12.
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Source: Tokyo Financial Exchange (TFX)
Get ready for IPOs on bourses, more ETFs
December 31, 2009--Here is our take on 10 market trends to watch out for in 2010.
Exchange-traded funds (ETFs): ETFs linked to gold, Nifty and Bankex are already there. The National Stock Exchange (NSE) is developing more ETFs based on its indices. It is also in touch with investment bankers to launch ETFs in overseas market based on Indian indices. Sources said Indian investors might also get to invest in the S&P 500 or the BRIC Index through ETFs.
Further, Benchmark Assets Management Company, a pioneer in ETFs in India, has sought the Securities and Exchange Board of India’s (Sebi’s) nod to launch ETFs based on government securities. This will enable small investors to invest in these securities. Benchmark is also launching an ETF based on Hang Sang in early January, besides an ETF based on NSE’s infrastructure index.
Consolidation among mutual funds (MFs): A decade ago, fund houses had to struggle to find investors. This year, after Sebi barred them from charging entry load, which used to go to MF distributors, the MF distribution network is at standstill.
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Source: Business Standard
Reliance Mutual Fund has filed for an ETF
December 31, 2009--Reliance Mutual Fund filed on December 17, 2009 for an ETF with the Securities and Exchange Board of India for
Reliance Liquid Exchange Traded Fund
view filing
Source: Securities and Exchange Board of India (SEBI)
Tata Mutual Fund has filed for an ETF
December 31, 2009-- On December 10, 2009 Tata Mutual Fund filed for the following
TATA GOLD FUND with the Securities and Exchange Board of India (SEBI)
view filing
Source: Securities and Exchange Board of India (SEBI)
Chinese shares gain 80% in 2009
December 31, 2009--China's main stock index ended 2009 with an annual gain of 80 percent after shares edged up on Thursday following a year of heavy government stimulus spending and bank lending.
The benchmark Shanghai Composite Index gained 0.5 percent, or 14.54 points, to 3 277.14, up from 1 820.81 on the last trading day of 2008. The Shenzhen Composite Index for China's smaller second exchange added 0.6 percent, or 7.44 points, to 1 201.34.
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Source: Fin24
Japan warns on trend to US-style fair value
December 30, 2009--Atsushi Saito, president and chief executive of the Tokyo Stock Exchange, said a move to bring international accounting standards closer to the US “full fair value” system could jeopardise any Japanese decision to adopt the global rules.
In an interview with the Financial Times, Mr Saito said Japanese companies were worried about the differing positions of the US and the International Accounting Standards Board, which makes the rules for most countries, except the US and Japan, on the use of the fair value system.
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Source: FT.com
Putin warns Russia intends to curb capital inflows that threaten recovery
December 31, 2009--Vladimir Putin, Russia's prime minister, said yesterday that Moscow would try to restrain the capital inflows that have caused the rouble to strengthen in recent months - so threatening the country's delicate economic recovery following the global financial crisis.
His comments had an immediate impact on markets, with the Russian rouble falling 1.4 per cent and the RTS stock market index down 0.75 per cent from Monday's close.
"We need to correct the rules so that it is less interesting for speculative capital to come running into Russia," Mr Putin told journalists while on a trip to Vladivostok, in the far east of Russia.
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Source: FT.com
CIMB Islamic Lists RM2 Billion Sukuk On Bursa Malaysia
December 29, 2009--Bursa Malaysia received the first Ringgit sukuk listing by CIMB Islamic Bank Berhad (CIMB Islamic) for their Tier 2 Junior Sukuk Programme of up to RM2.0 billion in Nominal Value.
The listing from CIMB Islamic further strengthens Bursa Malaysia's proposition to develop Malaysia as an international Islamic financial centre as well as CIMB Islamic's position as a global leader in Islamic finance.
Badlisyah Abdul Ghani, Chief Executive Officer of CIMB Islamic said, "The listing of our Islamic sub-debt on Bursa Malaysia further strengthens our commitment to the development of the Islamic finance industry, in this case, the Islamic debt capital market. Though not a retail offering as yet, we hope this listing will be a precursor to the development of a vibrant retail sukuk market tradable on Bursa Malaysia."
Dato' Yusli Mohamed Yusoff, Chief Executive Officer of Bursa Malaysia said, "CIMB Islamic's listing marks a milestone for us as they are the first Islamic financial institution to list their sukuk on the Exchange. This move signifies the relevance and appeal of Bursa Malaysia to bigger players in the Islamic finance industry, as well as boosts investor confidence."
Bursa Malaysia registered its first sukuk and bond listings by Petronas and Cagamas in August this year, followed by GE Capital's non-Ringgit sukuk listing in November.
The investor-friendly regime coupled with a robust regulatory and Shari'ah framework has been a conducive platform for sukuk listings and issuance. This enables Malaysia to attract over 60% of worldwide sukuk issuances, making this country a global hub for Islamic finance and investments.
Source: Bursa Malaysia
Revisions to the Index Guidebook Regarding Stock-Swaps and Absorption-Type Mergers
December 28, 2009-In order to enhance convenience of indices as benchmarks, revisions will be made to the rules in the Index Guidebook when listed companies of TSE index constituent issues carry out stock-swaps or absorption-type mergers. Contents of the changes and revisions are as follows.
1. Cases for application of revisions
A TSE index constituent issue* is delisted due to a stock-swap or an absorption-type merger in which a listed company of another TSE index constituent issue is a surviving company.
* Domestic common stocks, domestic preferred equity investment securities, domestic classified stocks with participation rights, single listed foreign stocks, and REITs listed on the markets of the Exchange.
2. Details of revisions
Days for making adjustments to the indices in conjunction with mergers, etc. (i.e. days for changing the number of listed shares of the surviving company used for indices) shall be revised as follows.
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Source: Tokyo Stock Exchange (TSE)
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