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WFE Focus February 2011

CBOE begins publishing CBOE S&P 500 Skew Index values
On 23 February 2010, the Chicago Board Options Exchange started to issue values for the CBOE S&P 500 Skew Index, a benchmark measure of the perceived risk of extreme negative moves, often referred to as "tail risk" or a "black swan" event, in the US equity markets.

Deutsche Börse launches new index family on France’s government debt
On 3 January 2010, Deutsche Börse launched a new index family for the French government bond market with five EUROGOV France indices. These indices track the French market for fixed-income government bonds denominated in euros. The five indices measure investment success in the market segment of highly liquid government bonds, each of them covering a different maturity.

NYSE Euronext reorganizes French market indices
NYSE Euronext (NYX) plans to harmonize its range of indices in Paris to further enhance visibility and liquidity for both issuers and investors. The changes will take effect on 21 March 2011. They include extending rules used to manage the CAC 40 index to all market-wide indices for NYSE Euronext in France, removing some indices with limited added value, and revising others to better represent the market’s three main segments: small, medium-size and large capitalizations.

Tokyo Stock Exchange begins calculating currency hedge indices
The Tokyo Stock Exchange begins calculating and publishing the TOPIX Total Return Euro Hedged Index to satisfy the market demands of capturing the return of currency-hedged indices. The new index is calculated by hedging beginning-of-period balances using rolling one-month EUR-JPY currency forward contracts. This calculation method is based on methodology of S&P Indices and this index uses a hedge ratio of 100%.

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