Global ETF News Older than One Year
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.
Source: NASDAQ OMX
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
Source: Eurex
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%).
Source: Earth Times
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.
Source: ETF Research and Implementation Strategy, BGI
Global Financial System Shows Signs of Recovery, IMF Says
September 30, 2009
Systemic risks recede as result of policy actions, nascent economic recovery
Expected asset writedowns decline
Broad reforms required to forestall future crises
Risks to the global financial system have subsided as a result of unprecedented policy actions and, more recently, a nascent global economic recovery, according to the IMF’s latest Global Financial Stability Report (GFSR).
But the semiannual report, released on September 30, cautions that the road to financial rehabilitation is unlikely to be straight and that there will be significant policy issues ahead.
"We are on the road to recovery, but this does not mean that risks have disappeared,” José Viòals, Director of the IMF’s Monetary and Capital Markets Department.
The report points to the need to further repair bank balance sheets to enable the institutions to make loans needed to support the economic recovery. Without this step, downside financial and economic risks could reemerge, the report said.
"If we fail to meet the challenges still being faced by the financial system in the present crisis, we risk reigniting systemic risks and even derailing the economic recovery now in train. As you know, that is something we simply cannot afford," Viòals told a press briefing in Istanbul, Turkey, where the IMF released the report ahead of its annual meetings.
View the Global Financial Stability Report- Navigating the Financial Challenges Ahead October 2009
Source: International Monetary Fund (IMF)
The International Framework for Modernizing Financial Regulation
Acting Assistant Secretary Sobel Testimony Before Senate Committee on Banking, Housing, and Urban
September 30, 2009--Chairman Bayh, Ranking Member Corker, members of the Senate Subcommittee on Security and International Trade and Finance, thank you for this opportunity to testify on the subject of international efforts to promote regulatory reform. I commend the Subcommittee for bringing greater public attention to this critical issue and for choosing such a propitious time, coming on the heels of the G-20 Pittsburgh Summit, to hold this hearing. It is also a personal privilege to testify alongside Dan Tarullo and Kathy Casey.
G-20 Cooperation and Progress Made
The Pittsburgh Summit marks another milestone in the effort to promote a more integrated approach between national and international regulation and supervision. In the wake of the onset of the crisis, and particularly over the last year, policy-makers and regulators from across the globe have redoubled their efforts to repair financial systems and put in place a stronger regulatory and supervisory framework to help ensure that a crisis of the magnitude we have witnessed does not occur again, to strengthen our financial systems so they are more robust in the face of duress, and to create a culture of greater integrity and responsibility in financial markets that guards against reckless behavior and excessive risk-taking.
Good progress is being made. Last year's Washington G-20 Summit produced a 47 point Action Plan to strengthen regulation. The London Summit in April advanced that work. Already, before we went to Pittsburgh, the international community working through the G-20 had achieved much.
For example:
* Prudential oversight has been strengthened. Capital requirements had been increased for risky trading activities, some off-balance sheet items, and securitized products. Principles had been developed for sound compensation practices to better align compensation with long-term performance. Banks were acting to put in place strengthened liquidity risk management principles.
Agreement had been reached to extend the scope of regulation to all systemically significant institutions, markets and products. Non-bank financial institutions, credit rating agencies, and hedge funds are being subjected to greater scrutiny, while the transparency and oversight of securitization and credit default swap (CDS) markets are being improved. International cooperation is being reinforced. More than thirty colleges of supervisors have met to discuss supervision of large, globally active firms. The Financial Stability Board (FSB, previously the Financial Stability Forum – FSF) has been strengthened, including by expanding its membership to include all G-20 countries, promoting financial policy coordination and regulatory cooperation throughout the world.
Market integrity has been strengthened. The G-20 has acted to improve adherence to international standards in the areas of prudential supervision, anti-money laundering and counter financing of terrorism, and tax information exchange as part of a U.S. initiative to deal with jurisdictions that fail to commit to high-quality standards in these areas.
Core Principles for Effective Deposit Insurance Systems have been developed to protect depositors around the world in a more consistent fashion. On a personal note, I would commend Martin Gruenberg, a former staff member of this Committee and now Vice-Chair at the FDIC and chair of the International Association of Deposit Insurers, for his leadership on this front. Pittsburgh Summit
A fundamental objective of the Pittsburgh Summit was to build on these accomplishments and the critical work underway and to identify and gain agreement on the necessary financial supervisory and regulatory reforms to prepare financial institutions to better withstand shocks in the future. G-20 Leaders agreed on timetables to take action in four key priority areas: capital, compensation, over-the-counter (OTC) derivatives and cross-border resolution.
Capital. The crisis demonstrated that capital and liquidity requirements were simply too low and that firms were not required to hold increased capital during good times to prepare for bad. Thus, G-20 Leaders agreed to develop rules to improve the quantity and quality of bank capital and to discourage excessive leverage by end-2010. The Leaders' agreement recognizes that strengthening capital standards is at the core of the reform effort and it tracks closely with the Principles for Reforming the U.S. and International Regulatory Capital Framework for Banking Firms, which Secretary Geithner set forth just before the G-20 Ministerial meeting in London earlier this month.
Source: U.S. Department of the Treasury
KLD Launches New Global Socrates ESG Research Platform
September 30, 2009--KLD Research & Analytics, Inc. of Boston, MA, has launched its new Global Socrates™ ESG research platform. The third generation of KLD’s proprietary web-based client interface, Global Socrates provides a comprehensive set of research, ratings and screening tools to investment professionals worldwide.
“KLD developed the first computer-based ESG research platform, and in 2001, the first web-based client interface,” said Noel Friedman, KLD Managing Director of Research Products. “We have over 20 years of experience supporting ESG analysis by a broad global client base, and Global Socrates puts everything we’ve learned in the hands of investors.” Institutional investors and money managers, including signatories to the UN Principles for Responsible Investment (PRI), can utilize Global Socrates to engage with companies and integrate environmental, social and governance (ESG) factors into their investment practices.
Source: KLD Research & Analytics
Economic crisis is remaking global power relations, Zoellick says
September 29, 2009--The global economic crisis is contributing to shifts in power relations in the world that will impact currency markets, monetary policy, trade relations and the role of developing countries, said World Bank Group President Robert B. Zoellick.
In a speech ahead of the Annual Meetings in Istanbul, Turkey of the World Bank and IMF, Zoellick said leaders should reshape the multilateral system and forge a “responsible globalization” that would encourage balanced global growth and financial stability, embrace global efforts to counter climate change, and advance opportunity for the poorest.
“The old international economic order was struggling to keep up with change before the crisis,” Zoellick told an audience at the Paul H. Nitze School of Advanced International Studies of the Johns Hopkins University, in Washington, DC. “Today’s upheaval has revealed the stark gaps and compelling needs. It is time we caught up and moved ahead.”
In the speech entitled “After the Crisis?”, Zoellick said: “Peer review of a new Framework for Strong, Sustainable and Balanced Growth agreed at last week’s G-20 Summit is a good start, but it will require a new level of international cooperation and coordination, including a new willingness to take the findings of global monitoring seriously. Peer review will need to be peer pressure.”
It was also important for the G-20 to remember those countries not at the table. “As agreed in Pittsburgh last week, the G-20 should become the premier forum for international economic cooperation among the advanced industrialized countries and rising powers. But it cannot be a stand-alone committee. Nor can it ignore the voices of the over 160 countries left outside.”
China’s strong response during the economic crisis and rapid recovery had underscored its growing influence as a stabilizing force in today’s global economy. But its leaders face challenges caused by rapid credit growth and the economy’s dependence on exports.
The United States had clearly been hit hard by the crisis. Its prospects depend on whether it will address large deficits, recover without inflation, and overhaul its financial system. The United States has a history of recovering from setbacks. “But the United States would be mistaken to take for granted the dollar’s place as the world’s predominant reserve currency,” Zoellick said. “Looking forward, there will increasingly be other options to the dollar.”
The crisis has brought to the attention of lawmakers the significant role played by central banks. Central banks performed well once the crisis hit but their role in the build-up was less convincing. “In the United States, it will be difficult to vest the independent and powerful technocrats at the Federal Reserve with more authority,” said Zoellick. “My reading of recent crisis management is that the Treasury Department needed greater authority to pull together a bevy of different regulators. Moreover, the Treasury is an Executive department, and therefore Congress and the public can more directly oversee how it uses any added authority.”
Developing countries had already been on the rise before the crisis and their position has been further strengthened because of it. Their growing share of the world economy was a positive development. “Looking beyond, a more balanced and inclusive growth model for the world would benefit from multiple poles of growth,” Zoellick said. “With investments in infrastructure, people, and private businesses, countries in Latin America, Asia, and the broader Middle East could contribute to a “New Normal” for the world economy.”
Source: World Bank Group
Middle East investors buy 17 percent of UK market Plus
September 28, 2009-London-based Plus Markets Group said Middle East investors had agreed to buy a 17.2 percent stake in the British exchange for 5 million pounds ($7.9 million).
Amara Dhari Investment Ltd, a special-purpose vehicle representing Gulf investors, is to buy Plus shares at 7.5 pence, an 11.8 percent discount to Monday's close, Plus said in a statement.
Amara Dhari also secured a warrant to subscribe for a further 58 million shares at 5 pence each "upon the attainment of certain revenue performance targets". Plus, which generates revenue from listing fees and selling market data, on Monday reported a wider first-half pre-tax loss of 5.7 million pounds from 2.4 million pounds last year. Revenue was marginally down at 1.5 million pounds.
Source: Online News
September 2009 Monthly Preliminary Performance Report Dow Jones-UBS Commodity Indexes
September 28, 2009--The Dow Jones-UBS Commodity Index was down -1.87% for the month of September. The Dow Jones-UBS Single Commodity Indexes for Natural Gas, Cocoa and Silver had the strongest gains with month-to-date returns of 23.76%, 10.34%, and 7.62%, respectively. The three most significant downside performing single commodity indexes were Sugar, Nickel and Wheat, which were down -11.60%, -11.57%, and -9.82% respectively, in September.
Year-to-date, the Dow Jones-UBS Commodity Index is up 5.22% with the Dow Jones-UBS Lead Sub-Index posting the highest gain of 111.94% so far in 2009. Dow Jones-UBS Natural Gas Sub-Index has the most significant downside YTD performance, down -45.47%.
Source: Mondovisione
