Global ETF News Older than One Year
NYSE Euronext Announces Trading Volumes for October 2012
October 2012 Volumes Impacted by Market Closure in U.S.; Continued Low Level of Volatility
#1 U.S. Equity Options Platform with Record 29% Market Share; NYSE Amex Record of 18%
November 13, 2012--– NYSE Euronext (NYX) today announced trading volumes for its global derivatives and cash equities exchanges for October 2012[1].
The industry decision to close the U.S. markets for two trading days due to Hurricane Sandy resulted in a 9% decrease in the number of trading days in October 2012 for NYSE Euronext’s U.S. cash equity and equity options markets. The closure of these markets also impacted trading on NYSE Euronext’s European derivatives and European cash trading venues, which remained open. European derivatives and European cash average daily trading volumes declined 44% and 41%, respectively, during the closure of the U.S. markets with some residual impact after the markets reopened. October 2011 trading volumes benefited from higher levels of market volatility driven by the sovereign debt crisis in Europe and the debt ceiling issue in the U.S.
Highlights
NYSE Euronext global derivatives ADV in October 2012 of 7.2 million contracts decreased 11.8% compared to October 2011 and decreased 5.7% from September 2012 levels.
Source: NYSE Euronext
Thomson Reuters Launches New Equity And Fixed Income Index Solution For Asset Servicing Industry-Northern Trust Is First Asset Servicing Provider
To Offer The New Solution To Institutional Fund Clients For Benchmarking Purposes
November 13, 2012--Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced the launch of a new benchmarking solution to help asset servicing providers (custodian banks) with investment decision-making and measurement of performance.
The Thomson Reuters equity and fixed income benchmarks will provide custodian banks with performance measurement analytics that are cost effective and highly correlated with other major global market indices. Northern Trust is the first asset servicing provider to adopt the Thomson Reuters indices as benchmarking solutions for its institutional fund servicing clients.
Thomson Reuters equity and fixed income indices are available as part of a new commercial model, which packages the indices into a simple, cost effective way that defies the complex, high fee structures associated with the index industry. The launch of this model supports Thomson Reuters vision to connect and enable the global financial community and represents a significant step forward in addressing the benchmarking needs of the investment community.
Source: Reuters
The Future of Government-Fast and Curious
Innovative governments can create public value by becoming "Fast and Curious"
The Global Agenda Council on the Future of Government identifies four criteria for government transformation
November 13, 2012--The World Economic Forum's Global Agenda Council on the Future of Government has identified a matrix for government transformation. In a new report, Future of Government-Fast and Curious, the group of academics, politicians and business leaders outline a framework for governments to follow to become flatter, agile, streamlined and tech-enabled (FAST) organizations.
The success of a government, as identified by the report, relies on politicians implementing the FAST model:
Flatter government to promote (a) citizen engagement, (b) administrative efficiency, (c) decision-making process, (d) intergovernment and cross-sector collaboration Agile government organizes itself to marshal public and private resources quickly to address challenges. Streamlined government carefully plans workforce reductions coupled with significant organizational, technological and workforce advances. Tech-enabled government is successful in redesigning its policy, legal and regulatory frameworks and processes to align with the dynamics of a networked world.
view the WEF Report-Future of Government - Fast and Curious
Source: WEF (world Economic Forum)
IEA-Highlights of the latest Oil Market Report
November 13, 2012--Oil futures prices fell to four-month lows in late October and early November amid mounting pessimism over the global economic outlook. Prices fell further after the US presidential election on worries over the so-called US 'fiscal cliff' looming at end-year, with Brent last trading at $109.25/bbl and WTI at $86/bbl.
The forecast of 4Q12 global oil demand has been cut by 290 kb/d since last month’s report, to 90.1 mb/d, reflecting persistent weakness in Europe and the impact of Hurricane Sandy in the US. The 2012 growth forecast has been reduced by 60 kb/d to 670 kb/d.
Non-OPEC production rebounded by 840 kb/d in October, to 53.4 mb/d, after seasonal maintenance and weather disrupted output in September. Non-OPEC supplies are expected to grow by 460 kb/d in 2012 and by 860 kb/d in 2013, to 54.1 mb/d.
view the Highlights of the latest Oil Market Report
Source: IEA
ETFS Precious Metals Weekly-Gold rises even as US dollar strengthens on safe haven demand
November 12, 2012--Fiscal cliff and Greece fears drive gold price to 3-week high The re-election of President Obama removed investor doubts about the continuation of aggressive quantitative easing by the Federal Reserve (Mitt Romney had vowed to replace the current Fed Chairman at the end of his term).
Investor focus quickly turned to the looming 'fiscal cliff' issue. Investors fear a drawn-out negotiation process on taxes and are concerned about US leaders' ability to find a compromise that will prevent disastrous automatic across-the-board expenditure cuts. Anxiety over this issue and continued uncertainty about whether the Troika will agree to release Greece's next loan tranche helped drive precious metal prices higher last week and has kept demand for gold ETFs strong. As highlighted in the Precious Metals Weekly last week, gold is likely to be one of the better hedges against a worst case fiscal cliff/downgrade scenario. Last summer, during the Congress's budget ceiling standoff and downgrade, the gold price rallied 30%.
Improving economic data indicating that the US recovery is gaining traction has caused the dollar to appreciate over the past month. Of particular note, the University of Michigan's preliminary index of consumer sentiment for November increased to 84.9 from 82.6 the prior month. Normally an appreciating dollar tends to push the gold price down. However, last week we saw dollar appreciation coupled with a rising gold price, highlighting investors are currently viewing gold as a safe haven as they await the outcome of fiscal negotiations.
Visit www.etfsecurities.com for more info.
Source: ETF Securities
New study on private equity and venture capital investments in China
Analysis of PE/VC investor valuation criteria with a view to changed market conditions
November 12, 2012--
A new study by Deutsche Börse and CMS Hasche Sigle analyses the valuation approaches applied to private sector investments in Chinese companies. This is already the second joint study on private equity in China.
It is to be presented at the German Equity Forum in Frankfurt on Monday.
“Our study confirms that the valuation standards developed in western markets cannot automatically be applied to companies in China, as factors such as due diligence play a major role in addition to key financial figures,” explained Volker Potthoff of CMS Hasche Sigle. “PE/VC investors have also adapted the sectoral focus to the changed macroeconomic conditions in recent years. They now focus less on export-dependent sectors and much more on those geared to China's domestic market, for example in the consumer goods industry or the healthcare market.”
view the study-Valuation of Chinese companies-The perspective of the private equity industry
Source: Deutsche Börse
Global Experts Poll: Economic Confidence Firms in Fourth Quarter, but Gloom Prevails
56% of respondents lacked confidence in global economy in fourth quarter, down from 72%
Respondents in North America more worried about an economic shock than those in Asia
Sixth quarterly Global Confidence Index polled 460 experts from business, government, international organizations and academia who are members of the Forum's Network of Global Agenda Councils
November 12, 2012--Confidence in the state of the world economy firmed up in the fourth quarter, although a majority of respondents to the World Economic Forum's Global Confident Index poll were still pessimistic.
Amid some signs that the slowdown in China has bottomed out, 56% of global experts polled said they lacked confidence in the global economy, sharply down from 72% last quarter.
“The results are indeed an improvement from last quarter's confidence levels, but sentiment overall remains pessimistic,” said Martina Gmur, Senior Director of the Forum’s Network of Global Agenda Councils. "We still need strategic vision coupled with bold leadership to snap out of this global malaise.”
In a poll of 460 experts, respondents in the Middle East and North Africa were significantly more confident about the global economy than those in North America, Europe, Asia and sub-Saharan Africa.
view the results of Global Confidence Index survey
Source: WEF(World Economic Forum)
North America leads shift in global energy balance, IEA says in latest World Energy Outlook
November 12, 2012--The global energy map is changing in dramatic fashion, the International Energy Agency said as it launched the 2012 edition of the World Energy Outlook (WEO). The Agency's flagship publicationm released today in London, said these changes will recast expectations about the role of different countries, regions and fuels in the global energy system over the coming decades.
"North America is at the forefront of a sweeping transformation in oil and gas production that will affect all regions of the world,
yet the potential also exists for a similarly transformative shift in global energy efficiency,” said IEA Executive Director Maria van der Hoeven. “This year’s World Energy Outlook shows that by 2035, we can achieve energy savings equivalent to nearly a fifth of global demand in 2010. In other words, energy efficiency is just as important as unconstrained energy supply, and increased action on efficiency can serve as a unifying energy policy that brings multiple benefits.”
Source: IEA
IMF-Caucasus, Central Asia Countries Fare Well Despite Some Downside Risks
November 12, 2012--Region's hydrocarbon exporters buoyed by high prices, importers benefit from remittance inflows
High international food prices could rekindle inflation while anemic world growth poses risks to outlook
Policymakers should strive to bolster buffers, reduce inequality, and enhance wealth management
Countries in the Caucasus and Central Asia continue to post a solid recovery from the global financial crisis, and the region’s economic outlook remains favorable, the IMF says in its latest assessment.
The IMF’s Regional Economic Outlook for the Middle East and Central Asia, released November 11, projects growth in the region at an average of about 5½ percent for 2012 and 2013 (see table).
This resilient growth reflects high oil prices that are benefiting the region’s oil and gas exporters, supportive commodity prices and remittance inflows for the oil and gas importers, and, for both groups, moderate direct exposure to Europe, the IMF report says.
view the The IMF Regional Economic Outlook for the Middle East and Central Asia
Source: IMF
Index switch hits Vanguard
November 11, 2012--Inflows into Vanguard's largest exchange traded fund have evaporated in the wake of its decision at the beginning of October to switch from tracking an MSCI index to a cheaper FTSE benchmark.
The Vanguard MSCI Emerging Markets ETF attracted $1m in net inflows in October, compared with average monthly inflows of $1.3bn between January and September, says the ETF Industry Association.
Source: FT.com
