2015 marks the 25th anniversary of the creation of the world's first Exchange Traded Fund (ETF). To celebrate this milestone, as well as the rapid growth of the Canadian and global ETF markets, Atul Tiwari, Managing Director, Vanguard Investments Canada Inc. & Vice Chair, Canadian ETF Association (CETFA), members of CETFA and ETF providers joined Ungad Chadda, Senior Vice President, Toronto Stock Exchange (TSX) to open the market on TSX today.
"The ETF is a made-in-Canada financial innovation. We are proud to have led the world in the creation of this revolutionary investment product," says Mr. Chadda. "The ETF industry in Canada and globally has been a phenomenal growth story and TSX is committed to supporting the Canadian ETF market as it further grows and evolves."
The Egyptian Exchange commenced its first ETF trading on Wednesday, January 14, 2015. The newly traded ETF tracks the main index, EGX 30 index, where its certificates are allowed to be traded as other securities, through brokerage firms.
The ETF nominal value on the first day of trading was LE 10 per certificate and it complied with all the applied trading mechanisms and rules except the trading suspension mechanism.
Dr. Mohammed Omran, EGX chairman stated that the commencement of trading on the first ETF in the Egyptian market is a new development and represents an increase in the market depth through providing new financial instrument other than stocks, bonds and mutual funds. He also stressed that this tool was an urgent demand by local and foreign investors and is expected to attract new investors as it represents a good hedging tool for all dealers that enables the investors to diversify the risks by investing in a basket of 30 stocks at once and at a lower trading cost.
Euronext, the leading exchange in the Eurozone, today announced the launch of options on six iShares ETFs on its highly successful and innovative Amsterdam derivatives market. The new option products will provide investors with enhanced investment opportunities in ETFs tracking a broad range of macro themes. The options on ETFs are developed and launched as a result of strong market demand. Participants in the launch are iShares (the ETF unit of Blackrock) global quantitative trading firm Susquehanna that acts as liquidity providerand asset manager Theodoor Gillissen.
The Ministry of Environment and the Korea Exchange (KRX) announced that they will hold an opening ceremony of the emissions trading market at the KRX's main office located in Busan and kick off trading on January 12, 2015.
The emissions trading market is opened pursuant to the Emissions Trading Scheme implemented since January 1, 2015 and trades KAU (Allowances allotted to corporations) and KCU (offsetting credit like CERs).
CME Group, the world's leading and most diverse derivatives marketplace, today announced the launch of physically delivered Gold Kilo Futures contracts (contract code GCK) to begin trading on January 26, 2015, pending all regulatory review periods.
This new contract, which will be listed on COMEX, builds on CME Group's existing suite of precious metals products, and will have contract listings similar to the familiar structure of the benchmark 100 troy ounce Gold Futures contract (GC) listed on COMEX. It will be tied directly to 9999 gold prices in Hong Kong and be physically-delivered in Hong Kong to provide access to round-the-clock price discovery for the Asian gold market. Being listed on COMEX ensures customers will be able to take advantage of deep margin offsets against other benchmark COMEX products and the entire suite of CME Group products.
Intercontinental Exchange, the leading global network of exchanges and clearing houses, today announced that ICE Futures Europe will introduce a new euro currency cocoa contract, which will operate in parallel with the existing London cocoa contract, which is denominated in pound sterling. The euro-denominated cocoa futures and options contracts are expected to be launched in April 2015, with a first maturity of December 2015, subject to completion of relevant regulatory processes.
Euronext, the leading exchange in the Eurozone, today announced the launch of a range of Single Stock Dividend Futures on the most liquid stocks listed on its Amsterdam, Brussels, Lisbon and Paris markets. The new dividend futures contracts will be available for trading in Q1 2015, starting with CAC 40® Index components. Euronext’s Single Stock Dividend Futures will offer investors additional dividend trading potential and will enable them to benefit from efficient pricing. The new products complement Euronext’s already existing dividend index offering made of the CAC 40® and AEX®Dividend Index Futures.
Dividends are a key component for equity and equity derivatives holders and dividend futures are mostly used as a hedging tool. However, dividends are also becoming an asset class of their own offering strong diversification opportunities to investors. Jad Comair, Founder and CIO of Melanion Capital, a leading asset manager specialized in dividend investments, strongly believes in the dividend futures potential. According to him, “One day, investors will be able to trade dividend futures on every listed equity in the world.”
Deutsche Börse Market Data + Services announced that it will begin disseminating fixed income indices and bond pricing data from African countries starting on 24 November 2014. Concerto African Bond Indices are the first independent index family to measure pan-African local currency sovereign bond performance. The indices are calculated and maintained by Germany-based Concerto Financial Solutions.
The Taiwan Stock Exchange (“TWSE”) launched the Greater China region’s first leveraged and inverse Exchange Traded Funds (ETFs), namely the “Yuanta Daily Taiwan 50 Bull 2x ETF” and “Yuanta Daily Taiwan 50 Bear -1x ETF”, on October 31.
The new products add further variety to Taiwan’s growing ETF landscape. The TWSE is currently home to 23 ETFs, including 7 ETFs which track offshore benchmark indices for markets including Hong Kong, Shanghai and Shenzhen. The combined ETF traded value on TWSE reached NT$55.7bln in September 2014, up 110% compared to the same period last year.
The TWSE is continuing to work closely with both domestic and offshore issuers to facilitate the timely introduction of more alternative financial products – including leveraged, inverse, and commodity ETFs plus indices – in order to attract more liquidity and investors to the Taiwan market.
On 14 October 2014 Moscow Exchange admits to trading 13 issues of Russian corporate Eurobonds.
Trades will be settled in USD. Trading will be open to both qualified and non-qualified investors. All instruments are USD denominated and will be included on Listing Level 3 (a non-quotation list).
Moscow Exchange Deputy CEO Andrey Shemetov said of the new product launch: "Eurobonds are attractive instruments for investors, allowing them to receive income in foreign currency. Trading on Moscow Exchange will boost the liquidity of Russian corporate Eurobonds already trading as well as those that we plan to admit to coincide with the start of trading on foreign markets. The first stage is to admit 13 Eurobonds, then expand the list in the future".
All of the Eurobonds but two to be admitted to trading are already eligible for repo trading with settlement in RUB. A total of 132 issues corporate Eurobonds are currently eligible for interdealer repo trading. Currently twenty three issues of Sovereign Eurobonds, as well as Eurobonds issued byVEB Leasing and VEB are trading on Moscow Exchange.
JSE launched the first currency futures which track the exchange rate between the Rand and select African currencies.
The JSE listed three new currency futures contracts which track the exchange rate between the Rand and the Zambian Kwacha, Kenyan Shilling and Nigerian Naira. Currency futures allow investors as well as importers and exporters to protect themselves against the currency movement in the foreign country.
The Stock Exchange of Thailand (SET) will list IMPACT Growth Real Estate Investment Trust (REIT) worth THB 15.71 billion (approx. USD 491 million) on its main board on October 1, under the ticker “IMPACT”.
SET Executive Vice President Chanitr Charnchainarong said that IMPACT, the first REIT in the Thai capital market, would list and start trading on the Thai bourse’s Property Fund & REITs sector. Being listed as REITs, the firm could invest in more various properties than typical property fund, while the REITs could also boost investment choices for investors and funding opportunities for entrepreneurs.
IMPACT offered 1,482.50 million units via an initial public offering (IPO) at THB 10.60 per unit during September 8-19, with total value of THB 15.71 billion. IMPACT is managed by RMI Co., Ltd., a subsidiary of IMPACT Exhibition Management Co., Ltd. Kasikorn Asset Management Co., Ltd. is the trustee and Maybank Kim Eng Securities (Thailand) pcl is the financial advisor and one of the underwriters, together with Kasikornbank pcl and Kasikorn Securities pcl.
Alibaba Group Holding Ltd. opened for trading on the New York Stock Exchange (NYSE) under the ticker symbol "BABA" after its initial public offering (IPO) on the floor of the NYSE. Barclays is the Designated Market Maker for the company's stock, which opened at $92.70.
CBOE Futures ExchangeSM (CFE®) announced that it plans to launch futures trading on the CBOE/CBOT 10-year U.S. Treasury Note Volatility IndexSM (ticker symbol VXTYNSM) beginning on Thursday, November 13, pending regulatory review. CBOE CEO Edward Tilly made the announcement during his address to attendees at the CBOE Risk Management Conference Europe, currently taking place outside of Dublin.
The VXTYN Index, on which futures on VXTYN is based, is calculated by applying the CBOE Volatility Index® (VIX® Index) methodology to futures options data from CME Group's 10-year U.S. Treasury note contract -- one of CME Group's most active interest rate options products. In May 2013, CBOE began disseminating values on the VXTYN Index as part of an agreement between CBOE and CME Group.
Shenzhen Stock Exchange (SZSE) and Shenzhen Securities Information Co., Ltd. recently announced to launch SZSE Convertible Bond Index (Code: 399307, Abbreviation: SZSE Convertible Bond) and CNI Convertible Bond Index (Code: 399413, Abbreviation: CNI Convertible Bond) on August 27, 2014. The indices are designed to depict the overall operation feature of the convertible bond market, and fuel the development and innovation of indexing investment.
Being as a hybrid security with debt- and equity-like features, a convertible bond holder may enjoy a return close to stock investment in a bull market and resist the crash when market collapses. Holding of a convertible bond not only keeps the long-term growth potential of stocks but also the security and income advantage of bonds, is a kind of investment which maximizes profit when risks are considered. In recent years, the convertible bond market witnesses steady growth with 31 convertible bonds listed on Shanghai and Shenzhen stock markets and valued about CNY 167 billion (as of the end of July, 2014). The convertible bond market has become an important component in the exchanges’ bond market.
Euronext announced that trading in equity options on Euronext N.V. shares will start on the Amsterdam derivatives market as of Thursday 28th August.
The new options will be listed in the Spotlight Options section, Euronext’s special segment dedicated to the development of new option classes requested by market participants. Spotlight Options give visibility to underlying assets such as newly listed stocks, SME’s and/or assets with notable market events or activity. Through a unique combination of Liquidity Provider support and dedicated promotion by Sponsoring Brokers, underlying assets are put in the spotlight with short-term maturities options of one, two and three months
NASDAQ OMX announced that First Trust listed a new exchange-traded fund (ETF) which began trading on Thursday, August 14, 2014. First Trust Strategic Income ETF (Nasdaq:FDIV), listed on The NASDAQ Stock Market® (NASDAQ®).
FDIV seeks a high level of risk-adjusted income and diversification through the use of multiple asset classes, targeted investment strategies and specialized management teams. By tactically blending multiple investment strategies, which includes both fixed-income investments and income-producing equity securities, the Fund may provide a lower risk, total return alternative to focusing solely on one strategy. This approach focuses on providing risk-adjusted income and capital appreciation potential by utilizing the expertise of multiple specialist asset managers in a single investment portfolio. FDIV offers a disciplined and transparent solution for investors seeking income.
CME Group, the world’s leading and most diverse derivatives marketplace, and Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, have launched the new LBMA Silver Price mechanism in partnership with the London Bullion Market Association (LBMA). CME Group, Thomson Reuters and LBMA have joined forces to provide the over-the-counter spot silver market with a new transaction-based price-setting mechanism for the LBMA Silver Price that is IOSCO-compliant and fully electronic. CME Group will provide the electronic auction platform on which the price will be calculated, Thomson Reuters will be responsible for administration and governance and the LBMA will accredit price participants. The new LBMA Silver Price benchmark will be published and distributed by Thomson Reuters and will be available on the LBMA’s website.
The London Silver Fix, most recently administered by London Silver Fixing Market Limited, which ceased operations as of August 14, was a global benchmark for 117 years. The new price setting mechanism developed by CME Group, Thomson Reuters and LBMA for establishing the over-the-counter spot silver price will ensure continuity for market participants via a transaction-based auction platform. It will continue to be London-based and will offer a fully IOSCO-compliant solution to the London bullion market. Deep industry engagement and broad market support leading up to the launch of this new benchmark should minimise disruptions and enable a seamless transition for the market
Cash-settled USD/RUB FX futures will be launched on the Standardised OTC Derivatives Market on 18 August. The new instrument will allow market participants to hedge against exchange-rate risk. Contracts can be concluded with any expiration date and any underlying asset size. Settlement in cash will reduce costs as no physical delivery is necessary.
Fifteen banks are now members of the Standardised OTC Derivatives Market: Sberbank, VTB Bank, Deutsche Bank, Bank Credit Suisse (Moscow), Raiffeisenbank, ING Bank (Eurasia), UniCreditBank, Metallinvestbank, OTP Bank, Uralsib, Otkritie Bank, Bank of Khanty-Mansiysk, DIB, IBSP, and Novoye Vremya.
The Singapore Exchange (SGX) is utilizing The Steel Index (TSI)’s daily coking coal price indices published by Platts, a leading global provider of energy, metals and commodities information, as the settlement basis for its metallurgical coal futures and swaps contracts newly launched.
The Singapore Exchange’s two new TSI-based contracts are:
- SGX TSI Australia Premium Coking Coal Futures and Swaps, reflecting the value of coal used in steel making as free on board (FOB) in East Coast Australian ports
- SGX TSI China Premium Coking Coal Futures and Swaps, reflecting the value of coal used in steel making as delivered to Jingtang port in China on a cost and freight (CFR) basis.
The Stock Exchange of Mauritius (SEM) wishes to inform investors and the public at large that the Exchange is replacing the SEM-7 Index with a new index, namely, the SEM-10 Index, with effect from Thursday 02 October 2014.
Since the creation of the SEM-7 Index in 1998, the stock market in Mauritius has witnessed a surge in total market capitalization due to the growth in size of the listed companies and the growing number of listings on the Official Market. Some of these newly listed companies have expanded the list of highly capitalized, liquid and frequently traded stocks.
The underlying changes in the market environment since 1998 have underscored the need to re-actualize the SEM-7 Index, to better reflect current market conditions and introduce an Index that tracks the performance of the ten largest eligible stocks of the Official Market, measured in terms of market capitalization, liquidity and ‘investibility’ criteria. The Reserve List of the SEM-10 Index will comprise of five stocks.
On the day of its introduction, Thursday 02 October 2014, the opening level of the SEM-10 Index will be set at the closing level of the SEM-7 index on Wednesday 01 October 2014.
NASDAQ OMX announced that First Trust will launch a new exchange traded fund (ETF), First Trust Dorsey Wright International Focus 5 ETF (Symbol: IFV), which will be listed on The NASDAQ Stock Market® (NASDAQ®). IFV will begin trading on NASDAQ on Wednesday, July 23, 2014.
CME Group, the world's leading and most diverse derivatives marketplace, announced expanded access to its CME Eurodollar liquidity pool by offering Bundle futures and options on Bundle futures. Contracts will be available starting September 22, 2014, pending CFTC review.
The new contracts will complement the existing suite of Eurodollar contracts and Eurodollar Packs and Bundles. Introduced in 1994, the Eurodollar Bundle enables the simultaneous sale or purchase of one each of a series of consecutive Eurodollar contracts, leaving the user with a strip of individual Eurodollar futures positions. The new Bundle futures provide the same economic exposure, through a single line item instead of a strip of contracts. Bundle futures and options will be available through the CME Globex electronic trading platform, open outcry, and block trading, and will be available in 2-year, 3-year and 5-year tenors.
Euronext announced the launch of weekly expiry dates on its CAC40® and AEX® future contracts. This initiative is the first of its kind in Europe and will complement the existing offer where futures contracts traditionally expire on a monthly or quarterly basis. The shorter expiry period will provide members with more trading possibilities, an opportunity for improved risk management, as well as an efficient hedging tool during the dividend season or when trading AEX weekly options. The product will be launched in the fourth quarter of 2014.
Montréal Exchange Inc. (MX), Canada's derivatives exchange, announced the introduction of a new future product based on the performance of the FTSE Emerging Markets Index. Scheduled to begin trading on June 13, 2014, the FTSE Emerging Markets Index Futures (MX-EMF) are targeted at a wide range of market participants seeking exposure to emerging markets for hedging, asset allocation, speculative and arbitrage purposes.
Chicago Board Options Exchange, Incorporated (CBOE®) announced that on Monday, July 7, it plans to introduce PM-settled, End-of-Month options series (EOM) -- with expiration dates falling on the last business day of the month -- for its S&P 500® Index (SPX(SM)) options.
Chicago Board Options Exchange® (CBOE®) announced that it plans to launch trading of options with weekly expirations on the CBOE Short-Term Volatility IndexSM (ticker symbol: VXSTSM) on Thursday, April 10, pending regulatory approval.
Singapore Exchange (SGX) will introduce a new set of Asian currency futures to expand its current suite of foreign exchange (FX) futures in the third quarter of 2014, subject to regulatory approval.
The iShares EURO STOXX 50 ex-Financials UCITS ETF, which is issued by iShares, has been tradable in Deutsche Börse’s XTF segment.
The JSE has added Diesel Hedge Futures and Options (DSEL) to its range of commodity derivatives.
Tokyo Stock Exchange, Inc. (TSE) approved the listing of a new ETF managed by “Daiwa Asset Management Co., Ltd.”. The ETF will be listed on Thursday, March 27, 2014.
Equity index derivatives led most of the growth in Asia, in particular those on the Japanese and Chinese markets.
CME Clearing Europe, CME Group's European clearing house, today announced that it has received Bank of England approval to add Overnight Index swaps (OIS), zero coupon swaps, Forward Rate Agreements (FRAs), basis swaps, variable notional swaps and SEK, DKK and NOK currencies for clearing beginning 3 March to its existing interest rate swap offering. The expansion of products in Europe adds to the global offering of CME Group, which has cleared more than $20 trillion in notional value with more than $11 trillion currently in open interest since launching 19 October, 2010.
NASDAQ OMX (Nasdaq:NDAQ) will open a new office in Austin, Texas on February 28 to expand its footprint in the Central region to meet increasing customer demand, particularly for Corporate Solutions products and services which are used by over 1,300 customers in the region. The office will be overseen by Cris Farrell, Vice President and Head of Sales, U.S. West, Corporate Solutions, NASDAQ OMX.
BSE, Asia’s first stock Exchange, today launched live trading in new interest rate futures, in 10 Year Government of India (GoI) securities.
Euronext, a wholly owned subsidiary of IntercontinentalExchange Group (NYSE: ICE), today announced the launch of an enlarged suite of Single Stock Futures on a range of its most liquid Euronext listed stocks. The launch enhances the existing offering of individual equity options, index futures and options.
IntercontinentalExchange Group (NYSE: ICE), the leading global network of exchanges and clearing houses, today announced that NYSE Liffe will expand its index derivatives franchise with the launch of futures based on MSCI Factor Indices.
Oslo Børs Burgundy is expanding its offering in the Swedish market. Two new retail segments for Exchange Traded Products will be available from 27 January 2014.
Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of a new ETF managed by Mitsubishi UFJ Asset Management Co., Ltd. (Mitsubishi UFJ AM). The ETF will be listed on Thursday, February 6, 2014.
SGX is pleased to announce the launch of the SGX Hot-Rolled Coil Steel CFR ASEAN (“HRC Steel”) Index Futures and Swap Contracts on Monday, 17 February 2014. This will be Asia’s first seaborne steel derivatives.
The Stock Exchange of Thailand (SET) has recently joined hands with brokers to continuously educate investors on using derivative warrants (DW), and expects that DWs on SET Index series can be launched by brokers this year. As many as 761 DWs were launched in 2013, with an average daily trading value of THB 1,000 million (approx. USD 33 million), increasing 254 percent from the previous year.
NYSE Euronext and Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), today announced the launch of the PowerShares NYSE Century Portfolio (NYCC) on NYSE Arca. NYCC is based on the NYSE Century Index, which includes U.S. companies that have been incorporated for at least 100 years, are listed on a U.S. exchange and have a market capitalization of at least $1 billion.
A new active ETF issued by PIMCO Fixed Income Source has been tradable in the XTF segment on Xetra since 13 January 2014.
London Stock Exchange welcomed on 9 January 2014 the CSOP Source FTSE China A50 UCITS ETF to list in London.
Singapore Exchange (SGX) welcomed the first Chinese Bank’s renminbi (RMB) bond to be listed and cleared in Singapore. The RMB bond is issued by Industrial and Commercial Bank of China’s (ICBC) Singapore branch. The bond issue is settled and cleared in RMB via SGX’s Central Depository (CDP).
In a move to encourage more private investors to embrace currency derivatives, the Johannesburg Stock Exchange (JSE) is expanding its Quanto derivatives range to include a currency contract based on the Euro/Dollar exchange rate, the world’s most actively traded currency pair.
CBOE Holdings, Inc. (NASDAQ: CBOE) announced it will launch futures and options on the CBOE Russell 2000® Volatility Index in coming weeks. CBOE Futures Exchange (CFE) will begin trading the futures (ticker: VU) on Monday, November 18, and Chicago Board Options Exchange (CBOE) plans to introduce trading in the options (ticker: RVX) on Monday, December 2.
Hong Kong Exchanges and Clearing Limited (HKEx) welcomes the decision by the Ministry of Finance of the People’s Republic of China (MoF) to list renminbi (RMB)-denominated sovereign bonds again on its Stock Exchange (the Exchange), and for the first time use the Exchange’s facilities for a public offer of its bonds.
Singapore Exchange (SGX) is introducing Asian foreign exchange (FX) futures for deliverable and non-deliverable Asian currencies from 11 November 2013. Futures contracts for six currency pairs, AUD/USD, AUD/JPY, USD/SGD, INR/USD, KRW/USD and KRW/JPY, will be launched initially.
Singapore Exchange (SGX) is introducing Asian foreign exchange (FX) futures for deliverable and non-deliverable Asian currencies from 11 November 2013. Futures contracts for six currency pairs, AUD/USD, AUD/JPY, USD/SGD, INR/USD, KRW/USD and KRW/JPY, will be launched initially.
Moscow Exchange launched trading in precious metals on 21 October.
China Exchanges Services Company Limited (CESC) welcomes the listing of the first Exchange Traded Fund, or ETF, tracking its cross border CES China 120 (CES 120) Index, which is scheduled for Monday, 21 October 2013.
Shares in Russia"s first ETF on physical gold began trading on Moscow Exchange on 17 October. The fund tracks the London Gold Fixing Price, which is set in USD every trading day. The fund"s shares are denominated in USD, while trading on the Moscow Exchange will be in RUB.
ASX launched futures contracts over the S&P/ASX 200 Resources Index and the S&P/ASX 200 Financials-x-A-REIT Index.
Trading in cash-settled Moscow Exchange ords futures is to be launched on the Derivatives Market on 14 October. The contract code in the trading system will be MEXC.
Malaysia’s first precious metal futures contract will begin trading on Bursa Malaysia from 7 October 2013.
This new cash-settled gold futures contract (Contract Code: FGLD), will be available to all market participants, particularly domestic retail investors, to trade gold on the derivatives exchange of Bursa Malaysia.
Singapore Exchange (SGX) is pleased to announce the launch of two thermal coal futures contracts on Monday, 21 October 2013. The two contracts are:
- SGX API 8 CFR China Coal Index Futures
- SGX IHS McCloskey Indonesian Sub-bit FOB Index Futures Contracts
Osaka Securities Exchange (OSE) announced that it has entered into a license agreement for CNX Nifty, the benchmark index of India's leading stock exchange, the National Stock Exchange India Limited (NSE) with India Index Services & Products Limited (IISL), a subsidiary of NSE.
NYSE Euronext listed GBP/USD and GBP/EUR options and futures on its market in Amsterdam. The new introduction means an extension of NYSE Euronext’s European range of foreign exchange derivatives, which until today included EUR/USD options and futures. The new FX options and futures are interesting for retail and professional investors who wish to invest in currency derivatives without being exposed to physical delivery. These contracts form the base for a good currency risk hedge for equity portfolio’s containing UK or US shares as the contracts are cash settled.
Hong Kong Exchanges and Clearing Limited (HKEx) welcomes the listing of the ChinaAMC CES China A80 Index Exchange Traded Fund (ETF), the first ETF on an index from China Exchanges Services Company Limited (CESC), HKEx’s joint venture with the Shanghai and Shenzhen stock exchanges.
- ETF will give investors direct exposure to leading German stocks
- First ever DAX-based Exchange Traded Fund to list in London
New product segment to start on 7 October 2013/ Futures and options on six of the most important currency pairs
With effect from 10 September, the international derivatives market Eurex Exchange will launch options on futures that are based on notional long-term bonds issued by the French Republic (“Obligations Assimilables du Trésor” – OAT) with a notional coupon of 6 percent and a remaining maturity of 8.5 to 10.5 years. The minimum price change (tick size) is measured in points and, as with the Bund options, equals 0.01, corresponding to a tick value of 10 euros.
Trading hours are from 8 a.m. to 5.15 p.m. CET.
On June 26 the project "Precious metals market at the Moscow Exchange" was presented to the credit organizations, members of the Moscow Exchange's FX market, that have licenses to trade precious metals.
On the morning of June 14, Dalian Commodity Exchange (DCE) and Guangdong Materials Group Corporation (GMGC) inked a strategic cooperation agreement in Guangzhou to cooperate in the development of the timber index futures and other fields as the sole partner for each other.
NASDAQ OMX (NASDAQ: NDAQ) announced the introduction of cash settled single stock futures on Norwegian, Danish and Swedish securities. The new instruments are similar to existing physically settled single stock futures, but settlement will instead be made in cash at expiration. The product will be offered on all underlying securities of Norwegian, Danish and Swedish single stock futures that are physically settled.
BM&FBOVESPA launches a new cash-settled mini Crude Oil derivatives contract on June 21, based on the settlement price of CME Group’s NYMEX Light Sweet Crude Oil (WTI) futures contract.
Moscow Exchange and Eurex Exchange, the derivatives arm of Deutsche Börse, announced that single stock futures of some well-known German underlyings will be made available for trading on the derivatives market of Moscow Exchange as of September 2013. The agreement to list five futures contracts – Deutsche Bank, Siemens, BMW, Volkswagen and Daimler – was signed today in Moscow by Alexander Afanasiev, Chief Executive Officer of Moscow Exchange and Andreas Preuss, Deputy CEO of Deutsche Börse and CEO of Eurex.
Hong Kong Exchanges and Clearing Limited (HKEx) welcomes the listing of Asia’s first offshore renminbi (RMB) bond Exchange Traded Fund (ETF) on The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of HKEx
Beginning June 7, 2013 trading in a gold futures calendar spread to start on the Moscow Exchange"s Derivatives Market.
The Moscow Exchange is launching a new financial instrument that will allow investors to avoid slippage risk while rolling over futures contacts, and will provide new strategies to trade futures.
This is the first Russian exchange-traded contract on shares traded on foreign trading floors. The introduction of this new derivatives instrument to the Russian market has been driven by recent changes in regulations adopted by Russia"s Federal Financial Markets Service.
Beginning May 27, 2013 the Moscow Exchange started calculating and releasing a new FX market indicator, the Ruble Fixing. The new indicator will be applied in the FX derivatives. The introduction will facilitate recognition of the ruble fixing calculated based on exchange trades abroad.
IDEM, the equity derivatives market of Borsa Italiana, has broadened its offering, launching new futures on the dividends of single European blue-chip stocks.
The new product has been launched in response to investors demand for trading the expected dividends of 23 major listed European issuers.
Hong Kong Exchanges and Clearing Limited (HKEx) plans to introduce new stock index futures and stock futures on three A-share Exchange Traded Funds (ETFs) as part of its continuing efforts to expand its suite of Mainland China-related products.
CME Group announced it has expanded its centrally cleared, over-the-counter (OTC) agricultural swap offering through the introduction of a new U.S. dollar (USD)-denominated palm oil swap. Pending CFTC review, the new USD Malaysian Crude Palm Oil Calendar Swap will be available for clearing on CME ClearPort on June 3, and will be listed with and subject to the rules and regulations of the CBOT.
The Moscow Exchange welcomes mortgage-backed participation certificates* "ISU-1" managed by GFT CAPITAL Asset Management Company on its quotation list A1 intended for top securities. The securities represent a new instrument on the Russian financial market. On May 22, 2013 they will start to be traded on the Moscow Exchange's Securities market.
From Monday 10 June 2013, Turquoise Derivatives, part of London Stock Exchange Group (LSEG), will offer trade reporting in 19 UK single stock options. The underlying stocks are predominantly constituents of either the FTSE 100 or FTSE 250. The new products will clear through LCH.Clearnet Ltd, alongside the current derivatives offering. Until the end of September 2013, no trade reporting, clearing or expiry fees will be charged.
The Australian Securities Exchange (ASX) announces that Exchange-traded Australian Government Bonds (AGBs) will be available for trading on ASX on 21 May 2013, giving retail investors access to buy and sell these products as easily as shares.
- GBOT has successfully launched CFDs on 18th April 2013
- GBOT is the 1st exchange in Africa and 2nd in the world to introduce CFDs
- GBOT has introduced four CFD contracts on Gold, WTI (Crude Oil), EUR/USD and GBP/USD
- Individuals and organizations can trade with as low as USD 20
CME Group, the world's leading and most diverse derivatives marketplace, announced the launch of nine new futures contracts for Renewable Identification Numbers (RINs). These contracts will be listed with, and subject to, the rules and regulations of NYMEX.
Market participants will be able to obtain exposure to nine new foreign-referenced soft and hard commodities thanks to the JSE’s expansion of its Quanto Futures range. Products to be introduced under license from the CME Group are heating oil, gasoline, natural gas, palladium, sugar, cotton, cocoa, coffee and corn.
Market participants will be able to obtain exposure to nine new foreign-referenced soft and hard commodities thanks to the JSE’s expansion of its Quanto Futures range. Products to be introduced under license from the CME Group are heating oil, gasoline, natural gas, palladium, sugar, cotton, cocoa, coffee and corn.
IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, announced the introduction of 35 new energy, environmental, freight and ferrous metal contracts on April 29, 2013.
The 50 outstanding issues by the Spanish Treasury as well as the 100 strips (Public Debt) will start trading on SEND, BME’s electronic Fixed Income platform for retail investors, following their admission by AIAF, the Spanish Fixed Income Market.
Singapore Exchange (SGX) is adding Asian foreign exchange (FX) futures to its derivatives market in the third quarter of 2013, subject to regulatory approval.
IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, announced it will introduce four credit index futures contracts starting in May 2013. The contracts will be based on the Markit CDX and Markit iTraxx indices, and are subject to review by the Commodity Futures Trading Commission.
Trading in euro futures on the Istanbul Traded Index (IBTX in EUR) started on the Vienna Stock Exchange. The joint index of the stock exchanges of Istanbul and Wien has been calculated since September of last year and enjoys wide international recognition.
On 11 March 2013, the international derivatives market Eurex Exchange will introduce a new interest rate future, the Mid-Term Euro-OAT Future, which is based on notional medium-term bonds issued by the Republic of France (“Obligations Assimilables du Trésor” – OAT). Together with the long-term Euro-OAT Futures which were introduced in April 2012, the contract complements the existing segment and offers market participants an efficient and cost-effective hedging instrument which enables the hedging of risks and basis trading in the mid-term maturities range of the French yield curve.
The International Securities Exchange (ISE), a leading U.S. options exchange, and IndexIQ, a leading asset management firm, announced their partnership agreement to support and promote new exchange traded products (ETPs) focusing on physical commodities.
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), the world's largest exchange group, in cooperation with BNY Mellon, the global leader in investment management and investment services, announced plans to introduce options trading on U.S. Treasury Securities at NASDAQ OMX PHLX®, the largest equity options exchange in the U.S. The first day of trading will take place on February 19th, 2013.
The International Securities Exchange (ISE) announced that its new product development group will now be known as ISE ETF Ventures. The new name reflects the group's evolving focus and expanded capabilities in the ETF area. With ISE ETF Ventures, ISE has moved beyond its established expertise in index development to offer partner firms a full suite of capabilities to support the launch of new ETFs. In addition to index conceptualization and development, ISE ETF Ventures can assist in bringing new ETFs to market through capital commitment, business development, and marketing support. By offering a wide range of capabilities and flexible approach, ISE ETF Ventures is well positioned as a valuable partner of leading ETF and ETN issuers, industry service providers, as well as new entrants to the ETF landscape such as AlphaClone and PureFunds.
BM&FBOVESPA begins trading new commodity derivatives developed for the sugar/ethanol sector. The first of these is the cash-settled crystal sugar futures contract. The contract is authorized for trading from 9:00 a.m. to 2:00 p.m. (São Paulo time), with after-hours trading from 2:35 p.m. to 6:00 p.m., under ticker symbol ACF and as of the April 2013 contract month. Each futures contract is quoted in Brazilian Reals and the contract size is 508 50-net kilogram bags.
BM&FBOVESPA is to launch new interest rate derivatives on March 1. The first is a futures contract referenced to the average rate of one-day repurchase agreements, backed by federal securities. Trading in the contract will be authorized between 9:00 a.m. and 4:00 p.m. under ticker symbol OC1, with the April 2013 contract as the front month.
Prime Minister Dato’ Sri Mohd Najib Tun Abdul Razak marked a historic milestone for the Malaysian capital market with the launch of the Exchange Traded Bonds and Sukuk (ETBS) on Bursa Malaysia Berhad (Bursa Malaysia) with the maiden issuance by DanaInfra Nasional Berhad (DanaInfra), effectively creating a new asset class on the Exchange to cement Malaysia as the world’s leading sukuk marketplace.
NASDAQ OMX Commodities is pleased to announce the launch of new instruments in Genium INET. Genium INET will be upgraded to version 0222 during the weekend 23-24 March, 2013. Thereafter, subject to successful testing and regulatory approval, the enhancements listed below will be activated for members according to a detailed time plan which will be published in due course.
Trading on İstanbul Menkul Kıymetler Borsası (İMKB) Futures & Options Market (VIOP) started December 21, 2012.
Deutsche Börse announced that the ShortDAX x3 and LevDAX x3 indices have been licensed to London-based firm Boost ETP to serve as the basis for exchange-traded products (ETPs) for the first time. The Boost LevDAX 3x Daily ETP and Boost ShortDAX 3x Daily ETP are available today on the London Stock Exchange.
The international derivatives market Eurex Exchange announced that it has signed a licensing agreement with the index provider MSCI. In the course of 2013, Eurex aims to launch derivatives on around ten regional and 20 country indices. The offering will comprise the major regional indices for developed markets like the MSCI World and MSCI Europe Indices and a broad coverage of emerging markets and the respective country indices, including the MSCI Emerging Markets and MSCI Frontier Markets Indices. The new index derivatives will provide Eurex clients access to emerging markets, which become increasingly important for global investors. This extension will add a significant number of index derivatives to the existing segment which currently covers 70 different indices.
İstanbul Menkul Kıymetler Borsası (IMKB) and NYSE Liffe, the European derivatives business of NYSE Euronext, announced the launch of futures and options contracts based on some of the constituents of the IMKB 30 Index. The new contracts will be available for trading before the end of this year on IMKB and in the first quarter of 2013 on NYSE Liffe London market.
The JSE has secured the approval from the South African Reserve Bank (SARB) to offer trade in Zambian grain traded and cleared in US Dollars, in collaboration with the Zambia Agricultural Commodities Exchange (ZAMACE). The two exchanges are confident the proposed Zambian derivative contracts will complement each other and ultimately strengthen the Zambian grain market.
CBOE Futures Exchange, LLC (CFE) announced that it plans to launch trading in S&P 500 Variance futures on Monday, December 10.
The International Securities Exchange (ISE) announced the launch of three new exchange traded funds (ETFs) in partnership with PureFunds: PureFunds™ ISE Diamond/Gemstone ETF (NYSEArca: GEMS); PureFunds™ ISE Mining Service ETF (NYSEArca: MSXX); and PureFunds™ ISE Junior Silver ETF (NYSEArca: SILJ). All three ETFs track proprietary indexes developed by ISE. The ETFs began trading on November 29, 2012.
A further ETC (exchange traded commodity) issued by ETFS Commodity Securities Limited has been tradable on Xetra
Hong Kong Exchanges and Clearing Limited (HKEx) welcomes the pending listing of three precious metals-related Exchange Traded Funds (ETFs) on The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of HKEx, including the Exchange’s first silver and platinum ETFs.
At its meeting on Thursday, November 15, 2012, the Tel Aviv Stock Exchange (TASE) Board of Directors approved in principle a proposal to launch weekly options and futures on the TA-25 index.
The Republic of Namibia listed its first Rand-denominated government bond on the Johannesburg Stock Exchange (JSE). With a R3 billion medium term note programme approved, the first tranche is an issuance of ZAR 850 million.
In response to market demand, the JSE announced that it will launch a prototype Contract-For-Difference (CFD) instrument early next year.
CME Group launched on 22nd October the U.S. Dollar-Denominated Ibovespa Futures a cross listing product in partnership with BM&FBOVESPA.
Bursa Malaysia introduced the rules to facilitate Exchange Traded Bonds and Sukuks (ETBS) to be listed, and traded on Bursa Securities. This marks the first step towards providing wider access for this asset class to Bursa Malaysia’s investors.
On Monday, October 01, BM&FBOVESPA will begin trading in the S&P 500 futures contract settled in cash to the price of the S&P 500 Index futures contract, listed and traded on CME, a CME Group exchange. This is the first futures contract traded on the Brazilian Exchange to reference a U.S. stock index.
With effect from 1 October, bond trading on Xetra will be expanded to include over 2,000 international government and corporate bonds and 60 German government bonds. Trading participants will benefit from a transparent and liquid bond market and gain access to a broad investor network via Xetra.
Thailand Futures Exchange (TFEX), under The Stock Exchange of Thailand group, is ready to launch the new versions of SET50 Index Futures and SET50 Index Options, and to introduce Sector Index Futures on October 29, 2012, in order to provide more investment choices for investors and boost market liquidity.
NYSE Liffe, the European Derivatives business of NYSE Euronext, announces the launch of futures contracts on the Russell Europe SMID 300 Index on its market leading wholesale derivatives service, Bclear. The futures contract will be launched on 1 October 2012.
CME Group announced the launch of a broad suite of new natural gas and power markets.
The International Securities Exchange (ISE) announced that the Virtus Wealth Masters Fund (Tickers: VWMAX, VWMCX, VWMIX), which tracks the Horizon Kinetics ISE Wealth Index (Ticker: RCH), was launched by Virtus Investment Partners, Inc. (NASDAQ: VRTS). It is the first mutual fund based on an index jointly developed by ISE and Horizon Kinetics LLC.
Singapore Exchange (“SGX”) successfully launched its new OTC Options suite for SGX Iron Ore and SGX Forward Freight Agreements (FFA).
CME Group announced the first trades of its U.S. Midwest Domestic Hot-Rolled Coil (HRC) Steel Index options equivalent to 20,000 short tons (1,000 contracts), which were cleared through CME ClearPort. The contract is listed by and subject to the rules of NYMEX.
NASDAQ OMX Nordic announces that trading in weekly options starts on the NASDAQ OMX Stockholm AB market. The weekly options are traded with expiration every Friday, thus complementing the existing options products with monthly expiration. Weekly options are listed every Thursday after close enabling investors to trade options expiring in one or two weeks. The OMXS30 index will act as underlying for the weekly options.
CME Group announced the launch of U.S. Midwest #1 Busheling Ferrous Scrap (AMM) futures to begin trading on September 10, subject to relevant regulatory approvals. This contract will be the first ferrous scrap futures contract available to U.S. steel industry participants, and will be listed by and subject to the rules of NYMEX.
Hong Kong Exchanges and Clearing Limited (HKEx) will introduce renminbi (RMB) currency futures on 17 September. The US Dollar vs Renminbi (Hong Kong) or USD/CNH* Futures contract will be the world’s first deliverable RMB Currency Futures.
Chicago Board Options Exchange, Incorporated (CBOE) announced that it will launch trading in a new type of S&P 500® Index options contract, known as CBOE S&P 500 Range options (ticker: SRO), beginning on Tuesday, August 28.
Singapore Exchange (SGX) is offering SGX S&P CNX Nifty Options from 16 July 2012.
The international derivatives market Eurex Exchange is expanding its offering to include futures and options on the EURO STOXX® 50 ex Financials Index. This index has been calculated since October 2011 by the global index provider STOXX Ltd. The new contracts will be tradable as of next Monday, 9 July 2012.
- On 27 June, the WSE has for the first time published the composition of new segments on the NewConnect market: High Liquidity Risk and Super High Liquidity Risk.
- The new segmentation results from the reform announced by the WSE in May 2012 aiming to improve the quality of the alternative stock market of the Warsaw Stock Exchange
Oslo Børs is listing two bond loans that are intended for Swedish investors and are registered with Euroclear Sweden. The bonds are issued by Hafslund ASA. This is the first time that Oslo Børs has listed bond loans that are registered with a foreign central securities depository.
The Chicago Board Options Exchange (CBOE) has announced that it plans to introduce, starting July 27, a process for trading SPX Variance Strips -- a portfolio of S&P 500 Index options (SPX) intended to replicate S&P 500 implied variance exposure -- in a single transaction.
BM&FBOVESPA begins trading a new soybean future contract. The underlying of this contract is the settlement price of the Mini-Sized Soybean Futures Contract traded on the Chicago Board of Trade (CBOT), which is owned by CME Group.
Singapore Exchange (SGX) announced it will launch dual currency trading for ETFs on 15 June, enabling investors to trade foreign-currency denominated ETFs in Singapore dollars. The move will provide investors with trading flexibility in accessing ETFs denominated in a foreign currency.
BM&FBOVESPA starts trading in the UTIP ETF (UTIP11). This tracks the Public Utilities Index (UTIL) which measures the behavior of a portfolio composed of stocks in companies representing the public utilities sector (electricity, water and sewerage and gas). The UTIP ETF will have BlackRock as its manager.
The Thailand Futures Exchange plc (TFEX), under The Stock Exchange of Thailand (SET) group, will launch USD futures on June 5, enabling Thai investors and business operators to manage Thai baht through the derivatives market, enhancing long-term benefits for the country and all players concerned.
CME Group, the world's leading and most diverse derivatives marketplace, announced the launch of Short-Dated New Crop Options on CBOT Corn and Soybeans futures to begin trading Monday, June 4. Short-Dated New Crop Options on CBOT Wheat futures will be listed for trading beginning Tuesday, September 4. These contracts are listed with, and subject to, the rules and regulations of CBOT.
The CBOE Futures Exchange, LLC (CFE) and DRW Trading Group have completed an agreement that will allow CFE to use DRW's patent-pending methodology to create variance futures that, for the first time, match the quoting conventions and economic performance of over-the-counter (OTC) stock index variance swaps.
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced the launch of MSCI Emerging Markets (Symbol: EEMIQ) and MSCI EAFE (Symbol: EAFEQ) Index Options, which will be the latest U.S. options listings offered at NASDAQ OMX PHLX. They are the first and only listed cash-settled options available in the U.S. on these major global indexes.
Osaka Securities Exchange Co., Ltd. (OSE) announced that it will launch futures contracts based on the Dow Jones Industrial AverageSM (“OSE DJIA Futures”) on Monday, May 28, 2012, subject to market readiness.
Pakistan Mercantile Exchange Limited announces the listing of the gold 10 ounces Futures Contract this week. Trading started in the contract right after listing. PMEX has currently three contracts at the months of June, July and August expiries.
CME Group announced the launch of CBOT Black Sea Wheat Futures to begin trading on June 6, subject to regulatory approval. The launch of these contracts, which will be listed with, and subject to, the rules and regulations of the CBOT, is an extension of the MOU that was initiated by CME Group Chairman Emeritus Leo Melamed last year.
In late March 2012, the Johannesburg Stock Exchange (JSE) introduced a new foreign-referenced wheat contract to its existing portfolio of international soft commodities. The cash-settled futures contract, based on hard red winter wheat, will reference the Kansas City Board of Trade’s (KCBT) benchmark settlement prices.
Hong Kong Exchanges and Clearing Limited (HKEx) plans to introduce Renminbi (RMB) currency futures in the third quarter of this year, subject to regulatory approval and market readiness.
NYSE Liffe U.S., the innovative U.S. futures exchange of NYSE Euronext (NYX) announced that it will begin trading futures based on the Depository Trust and Clearing Corporation’s proprietary DTCC GCF Repo IndexTM on July 16, 2012, subject to regulatory approval. Designed to track the $400 billion GCF Repo® market,futures on DTCC GCF Repo IndexTMproducts are licensed to trade exclusively on NYSE Liffe U.S. and will clear at NYPC. Calculated using actual, fully-collateralized transactions in the underlying cash Treasury, Agency and Agency Mortgage-Backed markets, the DTCC GCF Repo Index™ follows the average interest rate paid each day for the most actively traded U.S. repo market .
IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced that it will introduce five new U.S. grain and oilseed contracts on ICE Futures U.S. pending review by the Commodity Futures Trading Commission. These contracts join ICE's slate of agricultural futures and options contracts including sugar, cotton, coffee, cocoa, orange juice, Canadian wheat, barley and canola.
The Stock Exchange of Thailand (SET) will list TGOLDETF Thanachart Gold ETF, managed by Thanachart Fund Management Co., Ltd., on its main board on April 11, under the ticker symbol “TGOLDETF.”
BSE (formerly known as the Bombay Stock Exchange) , in a bell ringing ceremony, launched the first phase of BRICS (Brazil, Russia, India, China and South Africa) Exchanges Alliance by commencing trading in Hang Seng Index Futures, FTSE/JSE Top40 Futures, iBOVESPA futures and MICEX Index Futures. The Consul Generals of the four nations along with Mr. Rajeev Agarwal (Whole-time member – SEBI), rang the Opening bell to mark the launch of trading in these benchmark indices.
The international derivatives market Eurex Exchange announced that it will be launching a new interest rate future based on the notional long-term bonds issued by the French Republic (Obligations Assimilables du Trésor – OAT) on 16 April 2012. The Euro OAT Future extends the existing offering of benchmark futures on German government bonds (Buxl, Bund, Bobl and Schatz
futures) and the short-, medium- and long-term futures on Italian government bonds (Euro BTP Futures) launched between 2009 and 2011. The interest rate future on French government bonds represents a significant addition to the range of efficient and effective hedging instruments on the European bond market.
Tokyo Stock Exchange, Inc. (TSE) approved the listings of two new ETFs managed by Simplex Asset Management Co., Ltd. These two issues will be listed on Thursday, April 5, 2012.
The two ETFs will be the first listings of leveraged and inverse ETFs in Japan. They will be listed on the TSE market under the new listing rules and frameworks implemented in March this year.
The Johannesburg Stock Exchange (JSE) confirmed its plans to introduce a new foreign-referenced wheat contract to its existing portfolio of international soft commodities. The cash-settled futures contract, based on hard red winter wheat, will reference the Kansas City Board of Trade’s (KCBT) benchmark settlement prices.
During the first quarter of 2012, the European Financial Stability Fund (EFSF), reference issuer of the euro area, launched four new bond issues. These issues were admitted to trading on the regulated market of the Luxembourg Stock Exchange.
The International Securities Exchange (ISE) announced that it has filed for approval with the Securities and Exchange Commission (SEC) to list options on the ISE Max SPY™ Index, a new proprietary index that represents ten times the value of the SPDR® S&P500® ETF Trust (SPY). Currently, options on SPY are the most actively traded contract in the options industry, with average daily volume of 2 million contracts on a year-to-date basis. Options on the ISE MAX SPY Index will build upon the success of SPY options by offering a large-sized, European-style option that is cash-settled, characteristics which appeal to the institutional segment of the market.
The Baku Interbank Currency Exchange (BBVB) informs that for the purpose of development of internal market of EURO, since March, 5th of this year, in BEST* the trades with new tools: EUR/USD_TOD, EUR/USD_TOM begin.
The Argentine Securities Commission (CNV) has recently approved the creation of Technological Innovation Closed-End Funds, an initiative that has been developed by the Buenos Aires Stock Exchange (BCBA) Market Development Department, along with the Science and Technology Ministry of the Argentine Nation.
NYSE Liffe, the European derivatives market of NYSE Euronext (NYX), is to introduce futures and options on the AMX-Index®, the index for medium sized Dutch companies. AMX-Index®futures will be launched on Monday 26 March 2012, followed by trading in AMX-Index®options on Tuesday 10 April 2012.
The Irish Stock Exchange (ISE) has admitted the first ever Global Depositary Note (GDN) to a European exchange market. The GDN is in the form of a 70 million US$ denominated GDN issued by Citibank N.A., New York, (Citibank) and relates to an offering by Petroleos Mexicanos
Certificados Bursatiles (Pemex) of 7 billion 7.65% Mexican Peso debt due in 2021. Pemex is the Mexican state-owned petroleum company, which is also one of the largest companies in Latin America. The GDN security has been admitted to the ISE’s Global Exchange Market (GEM).
Hong Kong-based investment management firm Enhanced Investment Products Limited (EIP) will list its XIE Shares Thailand (SET50) Exchange-Traded Fund (ETF) on the Hong Kong Stock Exchange on February 16, 2012.
IntercontinentalExchange (NYSE: ICE) announced that ICE Futures Europe will introduce futures contracts on European Union Aviation Allowances (EUAAs) on February 27, 2012, subject to regulatory approval.
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), the world's largest exchange group, in partnership with IKON GLOBAL MARKETS, Inc. (IKON), a futures commission merchant registered with the U.S. Commodity Futures Trading Commission (CFTC) offering foreign exchange, futures and options, will launch NASDAQ OMX XAU/USD Spot Gold FuturesTM (patent pending) on the NASDAQ OMX Futures Exchange, Inc. (NFX). The contract will trade under the symbol "NAU" and seeks to simulate the over-the-counter (OTC) spot gold market trading experience.
Tokyo Stock Exchange, Inc. (TSE) approved the listing of a new ETF created by Mitsubishi UFJ Asset Management Co., Ltd. (Mitsubishi UFJ AM). The ETF will be listed on Thursday, February 23, 2012.
BM&FBOVESPA starts trading in two new ETFs: the IT Now IDIV (DIVO11) ETF, which tracks the Dividend Index, and the IT Now IMAT (MATB11) ETF, which tracks the Basic Materials Index. Itaú is the manager of the two new products.
CBOE Futures Exchange, LLC (CFE) announced that on Thursday, February 2, it plans to launch futures trading on the Radar Logic 25-Metropolitan Statistical Area (MSA) RPX Composite Index (futures symbol: RPXCP). The index tracks U.S. residential housing values as a whole and is one of several Radar Logic 28-Day Real Estate indexes on which CFE may offer futures contracts.
The Chicago Board Options Exchange (CBOE) announced that it will begin offering trading in options on the CBOE Emerging Markets ETF Volatility Index (VXEEM) on Tuesday, January 31.
The new options contract follows the introduction of trading in CBOE Emerging Markets ETF Volatility Index security futures (futures symbol:VXEM) at CBOE Futures Exchange (CFE) on January 9, 2012. Investors can use either or both products to hedge emerging markets volatility exposure or to make direct plays on emerging markets volatility.
The new Top of the Book Order is Deutsche Börse's contribution to a higher market quality. The order type narrows the order book spread and is beneficial for the entire market.
In the second semester of 2012, the Santiago Stock Exchange will launch ETFs whose underlyings will be the following Chilean equity market indices : IPSA, IGPA and Inter 10 indices.
CBOE Futures Exchange, LLC (CFE) announced that it will launch trading in security futures on the CBOE Emerging Markets ETF Volatility Index (Index ticker: VXEEM; futures symbol: VXEM) on Monday, January 9, pending regulatory approval.
NYSE Liffe U.S., the U.S. futures exchange of NYSE Euronext (NYX), announced it has secured an exclusive license to launch futures contracts based on The Depository Trust and Clearing Corporation’s proprietary DTCC GCF Repo IndexTM. The DTCC GCF (General Collateral Finance) Repo IndexTM was created to enhance transparency and liquidity in the multi-billion-dollar GCF Repo® market. It tracks the average interest rate paid each day for the most-traded general collateral repos involving U.S. Treasury securities, Agency securities and Agency Mortgage-Backed securities. NYSE Liffe U.S. listed futures on the DTCC GCF Repo Index™ are expected to launch in early 2012 and will benefit from the powerful ‘one-pot’ margin efficiencies of New York Portfolio Clearing (NYPC).
The Warsaw Stock Exchange has introduced 1.7 million bearer bonds with a total nominal value of PLN 170 million to trading in the alternative trading system operated by BondSpot. The bonds which have been newly listed today are the first of two series of WSE debt instruments to be listed on Catalyst. The series B issue is currently under preparation and will be addressed to individual investors.
The Spanish Stock Exchange started trading a new exchange-traded fund called LYXOR ETF IBEX 35® DAILY DOUBLE SHORT, issued by Lyxor Asset Management, Société Générale’s investment subsidiary.
On 15 December 2011, the Warsaw Stock Exchange introduces to trading on the Polish market an innovative type of financial instruments: leverage knock-out (barrier) certificates. The certificates are issued by Raiffeisen Centrobank AG. Trade name: TURBO Certificate.
Qatar Exchange announced full operational and regulatory readiness to launch the debt instruments market starting with the admission of the Qatari Government short term Treasury Bills to trade on the exchange starting Dec, 29,2011.
NASDAQ OMX Commodities Europe announces the planned launch of Swedish-Norwegian electricity certificate instruments in mid-2012 for trading and clearing.
Hong Kong Exchanges and Clearing Limited (HKEx) will introduce trading of HSI Volatility Index (VHSI) Futures on Monday, 20 February 2012.
BM&FBOVESPA shall start the daily calculation and publication on December 19 of reference exchange rates. The indicators are named Reference Exchange Rates (TCRs) and will be calculated based on spot US Dollar trades and orders (USDP) on the electronic trading platform. The reference foreign exchange rates will be calculated at 10:00 a.m., 11:00 a.m., 12:00 noon, 1:00 p.m., 3:00 p.m., and 4:00 p.m. There will also be the calculation of two daily averages, at 10:00 a.m. and 1:00 p.m.. The first of these will be the average of all of the rates published at the first four times, from 10:00 a.m. to 1:00 p.m. The second of these will be the average of all of the rates throughout the day that are published at the six determined times. In all there will be the calculation of eight daily indicators. With this launch, BM&FBOVESPA seeks to increase foreign exchange market transparency even further, as well as to stimulate the flow of spot market trading on the electronic platform.
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced that The NASDAQ Stock Market® (NASDAQ®) has listed two new exchange-traded funds (ETFs) sponsored by Global X Funds, a leading New York-based provider of ETFs.
CME Group announced it will work with oil market participants to discuss developing a new Gulf Coast crude oil futures contract at the ECHO Terminal, a storage facility being developed by Enterprise Products Partners L.P., to be listed on the NYMEX exchange. Connected to multiple facilities along the Houston Ship Channel, the ECHO Terminal is expected to begin service during the second quarter of 2012. The ECHO Terminal will be the destination of Enterprise's Eagle Ford Crude pipeline, as well as the Seaway pipeline following the reversal project announced November 16, 2011 by Enbridge Inc. and Enterprise. Once the process of changing the flow direction has been completed, Seaway will transport crude from Cushing, Oklahoma to the Houston refining market. The Seaway pipeline will accommodate growing domestic crude oil production supplies from the Cushing hub and Canada.
SSE Consumer 50 Index will be launched on December 9th, 2011 by SSE and CSI
On November 17, 2011 OJSC RTS will start trading in a futures contract on a basket of six-year Russian Federation government bonds following the tendency to increasing duration of the public-sector debt. The underlying asset of the contract is Russian Federation government bonds with a period from the Contract’s settlement to the maturity date comprising of 5-7 years. The closest settlement date of the contract is March 5, 2012.
BM&FBOVESPA launched on Monday, November 28, four new flexible options contracts.
CME Group announced the launch of NYMEX Brent 25-Day (Platts) futures and options contracts to begin trading December 12 with February 2012 being the first listed month. These contracts are listed with, and subject to, the rules and regulations of NYMEX.
CNSX Markets Inc. announced that BAC Canada Finance Company 5 year Extendible Step Up Semi-Annual Pay Medium-Term Notes, Series 1 (the “Notes”) have been posted for trading on the Canadian National Stock Exchange (CNSX). The Notes are trading under symbol BMF.DB.A and the issuer expects to raise up to $20 million. They are currently trading on an “if, as and when issued” basis until November 9, 2011.
BM&FBOVESPA starts trading on Monday (October 31) in two new ETFs: the IT Now ISE Index Fund that tracks the BM&FBOVESPA Corporate Sustainability Index (ISE), and the IT Now IGCT Index Fund that tracks the BM&FBOVESPA Corporate Governance Trade Index (IGCT). They will have Itaú as their manager.
Tokyo Stock Exchange, Inc. (TSE) approved the listing of a new ETF created by Sumitomo Mitsui Asset Management Company, Limited. The ETF will be listed on Friday, November 4, 2011.
BM&FBOVESPA informs you that as of October18, 2011 trading will commence in ten Unsponsored Level I BDR programs, issued by Banco Bradesco S.A. in the organized OTC market. Bradesco was winner of the third selection process for Depository Institutions.
The Stock Exchange of Thailand (SET) will list K-Gold ETF, managed by Kasikorn Asset Management Co., Ltd., on its main board on October 27, under the ticker “KG965.”
The Spanish Stock Exchange started trading a new exchange-traded fund issued by Lyxor Asset Management, called LYXOR ETF IBEX 35® DOBLE APALANCADO DIARIO.
CBOE Futures Exchange, LLC (CFE) announced that on or after Thursday, October 27, it plans to launch trading in futures on Radar Logic 28-Day Real Estate indexes, which measure asset values in the U.S. residential housing market.
Since 28 September 2011, eight exchange traded commodities (ETCs) and twelve exchange traded notes (ETNs) from the new issuer Commerzbank AG have been tradable on Xetra for the first time.
On October 6, 2011 RTS Stock Exchange starts calculating the RTS Oil family of indices on the basis of international markets oil products prices adjusted to include logistic costs and taxes.
The Stock Exchange of Thailand (SET) will list ThaiDex Gold ETF, managed by One Asset Management, on its main board on Octotber 11, under the ticker “GOLD99.”
The International Securities Exchange (ISE) announced that UBS has launched the ETRACS Monthly 2xLeveraged ISE Cloud Computing Total Return Index ETN (Ticker: LSKY). This exchange-traded note (ETN) is based on the ISE Cloud Computing Index™, a benchmark that tracks companies actively involved in the cloud computing industry. Index components include companies that are infrastructure providers for the "cloud," firms that provide goods and services in support of the cloud computing space, or technology conglomerates whose business model uses or supports cloud computing technology. LSKY began trading on NYSE Arca on October 5, 2011.
Multi Commodity Exchange of India Ltd (MCX) commenced futures trading in cotton after the cotton futures contract was launched by Mr. Ramesh Abhishek, Chairman, Forward Markets Commission (FMC). Currently, cotton October 2011, December 2011 and January 2012 contracts have been offered for trading.
Starting from September 30, 2011 within the framework of the integration of the Russia's two major exchanges, MICEX and RTS, FORTS will start trading in a cash-settled futures contract on the MICEX Index (the code of the contract in the trading system is MX) and an option on the futures contract on the MICEX Index.
Considering the increased attention of institutional investors, etc. to volatility indices after the global financial crisis, the Osaka Securities Exchange Co., Ltd. (OSE) has decided to introduce futures contracts on the Nikkei Stock Average Volatility Index(*) as follows, from the viewpoint of providing market participants with diversified investment and hedging tools.
Five additional ETFs issued by RBS Market Access have been tradable on Xetra® since Monday.
S&P Indices and Tokyo Stock Exchange, Inc. announced the launch of the S&P/TOPIX 150 Carbon Efficient Index, which comprises all Japanese companies included in the S&P/TOPIX 150 re-weighted to reflect the level of carbon emissions produced by each, while simultaneously tracking the S&P/TOPIX 150 as closely as possible.
NASDAQ OMX Stockholm, part of the NASDAQ OMX Group (NASDAQ:NDAQ), starts trading in a new exchange traded fund (ETF), XACT China (short name: XACT Kina). The new ETF issued by XACT Fonder is based on the Hang Seng China Enterprises Index (HSCEI), which tracks the performance of the 40 largest Chinese companies listed on the Hong Kong exchange.
The National Stock exchange launched derivative contracts on the world’s most followed indices S&P 500 and Dow Jones Industrial average. At the close of trading at 3.30 pm, the traded value of derivative contracts on S&P 500 futures, S&P 500 options and DJIA futures was nearly Rs 122 crores.
CBOE Holdings, Inc. (NASDAQ: CBOE) announced that it will begin trading SPXpm, its new S&P 500 Index options product, on Tuesday, October 4. SPXpm options will be traded on the Company's all-electronic C2 Options Exchange (C2).
Another ETF issued by The Royal Bank of Scotland has been tradable on Xetra® since Thursday.
ETF name: RBS Market Access CTA Index Fund
Asset class: Multi-asset index ETF
Total expense ratio: 0.75 percent
Distribution policy: non-distributing
Benchmark: RBS CTA Index
The London Stock Exchange announced the trading of seven new Amundi emerging market exchange-traded funds. The new products will provide investors with specific exposure to India, China, Eastern Europe (ex Russia), Brazil, Asia and Latin America, as well as to a broad index ETF tracking the performance of all emerging markets. Also trading from today is an ETF providing exposure to the European Real Estate sector.
The Korea Exchange ("KRX") is going to list KINDEX Inverse ETF on September 8, 2011.
Tokyo Stock Exchange, Inc. (TSE) approved the listing of the following trust beneficiary certificates (Japanese Depositary Receipts; hereinafter "JDRs") whose trust assets are exchange traded notes (indicator-tracking securities; hereinafter "ETNs") managed by Barclays Bank PLC.
CBOE Holdings, Inc. (NASDAQ: CBOE) announced that the Securities and Exchange Commission(SEC) has approved its rule filing to launch, on a pilot basis, SPXpm, its proposed new S&P 500 Index option product. SPXpm will be traded on the C2 Options Exchange (C2), the Company's all-electronic exchange.
On August 30, 2011 the Derivatives Market Committee of RTS approved specifications for cash-settled futures contracts on the MICEX Index (trading system code MX) and futures-style options on a futures contract on the MICEX Index. The Committee recommended that the Board of Directors of OJSC RTS approve the specifications. After the specifications have been approved by the Board they will be submitted to the Federal Financial Markets Service for registration.
CME Group, the world's leading and most diverse derivatives marketplace, announced it has added weekly options on Soybean Meal, Soybean Oil and Live Cattle futures to begin trading September 26. Soybean Meal and Soybean Oil contracts are listed with, and subject to, the rules and regulations of CBOT. Live Cattle contracts are listed with, and subject to, the rules and regulations of CME.
Ten exchange-traded index funds issued by UBS ETF SICAV are tradable in Deutsche Börse’s XTF segment as of today. All ten are based on the MSCI index family. These equity indices are weighted according to free-float market capitalisation.
The Stock Exchange of Thailand (SET) will list ThaiDEX SET High Dividend ETF, managed by One Asset Management Limited, on its main board on August 16, under the ticker “1DIV.”
The Stock Exchange of Thailand (SET) lists ThaiDEX SET High Dividend ETF, managed by One Asset Management Limited, on its main board on August 16, under the ticker “1DIV.”
Islamic finance industry has registered a tremendous growth during the last decade in both Islamic and non-Islamic countries. While the asset size of Islamic finance reached USD 1.2 trillion in 2010 over 80 countries, the banking industry takes the largest share of 80 %. The recent financial crisis in 2008-2009 revealed more the importance of Islamic finance as the conventional banking system encountered serious problems. This gave pace the widespread use and acceptance of asset based/backed Islamic financial instruments in non-Islamic countries like UK, France, USA, either through Islamic financial institutions or Islamic windows of the conventional banks. While London and Luxemburg have made good progress with their flexible treatment for Islamic finance business, Malaysia continues to keep playing the leader position in the world on this business with its well-established organizational structure, diverse asset types and high sukuk issuance size. Moreover, the regulatory authorities in the non-Islamic countries provide a level playing field for Islamic financial institutions with their rivals, namely conventional banks, bringing tax neutrality for the same type of products, i.e. sukuk vs. corporate bonds.
The Tel Aviv Stock Exchange (TASE) continues to expand Israel’s derivatives market with the launch of options on non-linked shekel-denominated government bonds. The new options were designed by a joint team of TASE, the Ministry of Finance, and Prof. Dan Galai. Trading is scheduled to commence on 10 November 2011.
Exchange Traded Funds “ETFs” are similar to mutual funds in many ways but they have many significant differences. Real-time pricing and intraday liquidity are two of the most obvious differences between exchange-traded funds with their mutual fund cousins. Mutual funds create their price or NAV (net asset value) once a day at the end of the day based on pricing the underlying holdings after the close of trading when the fund has priced its assets and hence created its price or NAV for that day. Once the mutual fund has been priced, the mutual fund company transacts all fund unit buy and sell orders that have been accumulated during the day. This pricing process does not allow investors to know beforehand the price at which their buy or sell order will be transacted at. Many mutual funds will often charge front load fees, pay rebates and often back end loads.
Islamic finance industry has registered a tremendous growth during the last decade in both Islamic and non-Islamic countries. While the asset size of Islamic finance reached USD 1.2 trillion in 2010 over 80 countries, the banking industry takes the largest share of 80 %. The recent financial crisis in 2008-2009 revealed more the importance of Islamic finance as the conventional banking system encountered serious problems. This gave pace the widespread use and acceptance of asset based/backed Islamic financial instruments in non-Islamic countries like UK, France, USA, either through Islamic financial institutions or Islamic windows of the conventional banks.
Modern Islamic financial markets began their journey with the establishment of interest-free banking practices. But while Islamic banking served its purpose, markets began looking for alternative solutions for fund raising and insurance through Islamic finance a decade later. Today, Islamic financial markets have flourished throughout the Middle East, Europe and Asia, with assets of approximately US$1 trillion[i] and the industry is expected to grow at an annual rate of 25 percent.[ii]
Panel 6 Local Exchanges, global markets Summary
Panel 3 New forms of trading