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Indian regulator warns on high frequency trading rush
January 16, 2012--In a rush towards reducing trading latencies to attract high frequency trading, exchanges risk leaving out retail investors and other less sophisticated investors behind, warns U.K. Sinha, chairman of the Securities and Exchange Board of India.
Speaking at the Asian Financial Forum in Hong Kong on January 16, Sinha says that there should be a limit on the speed of trading system to protect the interest of retail investors. He also expresses concern on possible risk management issues for bourses when offering co-location services, which allow traders to rent racks of computer space close to the exchanges’ systems, enabling them to execute trade at low latencies.
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Source: The Asset
China's foreign exchange reserves decline quarterly for first time in decade
January 14, 2012--China's foreign exchange reserves have declined on a quarterly basis for the first time in a decade, indicating a need for the country to shore up market liquidity.
According to the data released by the People's Bank Of China, the country's foreign exchange reserves have declined from 3.2 trillion dollars to 3.18 trillion dollars at the end of 2011 due to shrinking trade surplus and accelerating capital outflows.
The reserves had witnessed the first drop for a single month in September over the past 16 months by shrinking to 60.8 billion dollars.
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Source: News Track India
KRX To List TIGER Consumer ETF On January 17, 2012
January 13, 2011--The Korea Exchange will be listing TIGER Consumer ETF on its KOSPI Market on Jan 17, 2012.
The newly listing ETF tracks FnGuide Consumer Index whose constituents include LG Household & Health Care, Amorepacific, and CJ CheilJedang. As of January 2012, their values in the index account for 24.8%, 16.0%, and 13.1%, respectively.
With the listing of TIGER Consumer ETF, total number of ETFs listed this year would be three, bringing the total number of the ETFs listed on the KRX to 109.
Source: KRX
SGX lists CapitaMalls Asia 10-year retail bonds
January 13, 2012--Singapore Exchange (SGX) today welcomed the listing of CapitaMalls Asia’s 10-year bonds on Mainboard under the stock code “PW3Z”.
Mr Ng Kok Siong, Chief Financial Officer of CapitaMalls Asia, said, “We would like to thank SGX for providing a sound trading platform for our bondholders to trade their bonds as and when required. In addition, the company would like to take this opportunity to register our sincere appreciation to the public for their strong endorsement of our second series of bonds. Despite the upsize to S$400 million, we regret that we were unable to fulfill all the demand. We will definitely continue to look into offering retail investors opportunities to invest in our future series of bonds.”
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Source: SGX
Japan Officials Tell U.S. Volcker Rule May Hamper Government Bond Trading
January 12, 2011--Japan’s central bank and financial regulator told U.S. authorities that the Volcker Rule restricting proprietary trading would hamper the market for Japanese government bonds, according to a letter released today.
The proposed rule limiting banks’ ability to buy and sell securities for their own accounts would increase the cost of trading Japanese government bonds, the Financial Services Agency and Bank of Japan wrote in the letter dated Dec. 28.
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Source: Bloomberg
Leaner Hedge Fund Sector Forecast to Emerge in Asia
January 12, 2011--A leaner hedge fund industry will prevail this year, with new hedge funds facing a challenging fundraising environment as prime brokerages and administrators battle to maintain or increase margins, according to Eurekahedge.
The Singapore-based data provider forecasts that the number of fund launches in 2012 will be similar to the 130 launched last year, but down from the 183 new funds seen in 2010. Net inflows are expected to reach $5 billion this year, bringing total industry assets to more than $140 billion by end-2012 – up from the current $125 billion, but short of 2007’s all-time high of $176 billion.
Source: Asian Investor
Silk Road Management Launches Silk Road Australia Index
January 11, 2012--Silk Road Management is pleased to announce that it launched Silk Road Australia Index (SILKAU), a debut benchmark that includes largest Mongolia and Central Asia-focused companies with listing on the Australian Stock Exchange (ASX).
The index currently covers 10 companies with the total market capitalization of US$1.2 billion (December 31, 2011) and is set with initial value of 1000 as of January 1, 2012.
Alisher Ali, Managing Partner, Silk Road Management stated, “We believe that the Silk Road Australia index with albeit modest US$1.2 billion market capitalization is expected to expand significantly in coming years on the back of upcoming IPOs of Mongolia focused resource companies on the ASX and accelerated acquisitions in the mining sector in Mongolia by existing ASX-listed companies”. Similarly, the Silk Road Hong Kong Index more than tripled to US$12 billion in market capitalization at end-2010 from US$3.4 billion at the beginning of the same year due to three IPOs of Mongolian resources companies on the Hong Kong Stock Exchange – Mongolian Mining Corp., SouthGobi Energy and Winsway Coking Coal Holdings.
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Source: Silk Road Management
New ETF to be Listed on Mar. 30, 2012 (Fri.) - Nikko Asset Management Co., Ltd. "Listed Index Fund Emerging Bond"-
January 11, 2012--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of a new ETF created by Nikko Asset Management Co., Ltd. The ETF will be listed on Friday, March 30, 2012..
Code: 1566 (ISIN JP3047420009)
Name:Listed Index Fund Emerging Bond (Barclays Local EM)
Fund Administrator:Nikko Asset Management
Listing Date: March 30, 2012
Trading Unit: 1 unit
Underlying Index :Barclays Capital Emerging Markets Local Currency Government - 10% Country Capped Index
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Source: Tokyo Stock Exchange (TSE)
China regulator says mulling bond, silver futures
January 10, 2012--China stock market regulator said it would consider launching government bond futures and other commodities-related futures such as crude oil and silver in a bid to develop the country's nascent derivatives market.
Guo Shuqing, the newly appointed chairman of the China Securities Regulatory Commission (CSRC), said the commission would accelerate plans to roll out more equities, bonds and funds related investment products as part of wider efforts to open up the country's financial sector.
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Source: Reuters
Postpone the Launch of SSE 300, SSE 100 and SSE 100 EW Indices
January 9, 2011--SSE and CSI together decided to postpone the scheduled launch of SSE 300, SSE 100 and SSE 100
EW Indices on Jan 10th 2012.
Source: Shanghai Stock Exchange
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