NO 245 – JULY 2013

WFE Focus

CBOE disseminates new volatility index values

On 1 July 2013, the Chicago Board Options Exchange began disseminating values for a new volatility index benchmark, the CBOE EFA ETF Volatility Index. It expands investors' ability to track market volatility of major geographic regions outside of the US, and measures the volatility of the iShares MSCI EAFE index fund, an ETP that offers exposure to developed-market stocks in Europe, Australia, Asia and the Far East.

Deutsche Börse launches DAX ex-Financials 30 index

Deutsche Börse has launched the DAX ex-Financials 30 index which measures the 30 largest and most liquid companies in Germany excluding stocks classified as banks, financial service and insurance. It is intended to institutional investors who want to access the performance of a fixed number of leading German companies without exposure to the financials industry.

ISE ETF Ventures launches BlueStar indexes

The International Securities Exchange partnered with BlueStar Indexes to develop a family of indexes and use them as the basis for ETPs and other index-linked vehicles. The BlueStar Israel Global Index is the first index developed through this partnership. It provides a comprehensive benchmark for investors to track Israeli and Israeli-linked public companies.

Luxembourg Stock Exchange launches responsible investment index

On 1 July 2013, the Luxembourg Stock Exchange launched a new responsible investment index, the Lux RIFund index. It represents the overall performance of some of the major funds domiciled in Luxembourg that operate in the area of responsible investment, primarily those concerned with environmental, social and ethical issues. It is a closed-basket index with a total of 20 constituents.

Muscat Securities Market to launch Sharia compatible index

On 1 July 2013, the Muscat Securities Market launched a new index compatible with Sharia. It includes 31 MSM listed joint-stock companies whose activities and financial approach meet the requirements of Sharia as issued by the Accounting and Auditing Organization for Islamic Financial Institutions.

NASDAQ OMX launches BulletShares indexes

The NASDAQ OMX Group and Accretive Asset Management announced a new partnership involving Accretive's BulletShares Corporate Bond Index family. NASDAQ OMX and Accretive have agreed to co-brand the indexes and work jointly to promote the BulletShares concept around the world. The NASDAQ BulletShares Indexes represent the performance of an investment in a diversified, held-to-maturity portfolio of fixed-income securities with a common year of maturity.

NYSE Euronext launches CAC 40 Ext index

NYSE Euronext launched the CAC 40 Ext index which tracks the market's benchmark CAC 40 but with extended calculation and distribution hours, from 8:00 to 18:30 CET compared with 9:00 to 17:30 CET for the CAC 40. The CAC 40 Ext index is calculated on the basis of CAC 40 index future traded on the NYSE Liffe exchange. With the CAC 40 Ext index, investors can track trends in the CAC 40 outside normal trading hours, and take positions at pre-market and after-hour sessions on NYSE Euronext's regulated European market.

NYSE Euronext expands range of ESG indices

NYSE Euronext and Vigeo, the European expert in responsible performance, expanded their range of ESG indices with the launch of the Euronext Vigeo Benelux 20, the Euronext Vigeo Eurozone 120 and the Euronext Vigeo US 50. Components of these three new indices include major listed companies in the Netherlands, Belgium and Luxembourg respectively, the euro zone, and North America.

Shanghai Stock Exchange to launch market credit bond index

On 1 August 2013, the Shanghai Stock Exchange will launch, in cooperation with CSI, the SSE Medium Term Medium-High Yield Cross Market Credit Bond Index. It is designed to serve as a new investable benchmark for bond investors as well as to promote innovation in the Chinese bond market.

Shenzhen Stock Exchange launches agriculture enterprises index

On 24 June 2013, the Shenzhen Stock Exchange, in cooperation with the Shenzhen Securities Information, launched the SZSE Agriculture Comprehensive Enterprises Index in a move to mirror the overall performance of agricultural companies listed on the Exchange.

Tokyo Stock Exchange to publish TOPIX ex-Financials index

In response to the various indexing needs of its market participants, the Tokyo Stock Exchange will begin calculating and publishing the TOPIX ex-Financials index which excludes banks, securities and commodities futures, insurance, and other financing business sector from TOPIX from 2 September 2013. TSE has also started to accept license applications for ETFs based on this index.