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WFE Focus April 2011
New products

BME trades ETF on IBEX 35 double leverage index

BME, the Spanish Exchanges, started trading a new ETF called “LYXOR ETF IBEX 35 Doble Apalancado Diario”. It offers double exposure to the daily return on the IBEX 35 net return, through the investment of an initial capital plus an equivalent loaned capital. A positive daily return on the IBEX 35 produces a positive return, but doubles that amount for the IBEX 35 double leverage and vice versa.

BM&FBOVESPA starts trading sustainability and corporate governance ETFs

On 31 October 2011, BM&FBOVESPA began trading two new ETFs: the IT Now ISE Index Fund that tracks the BM&FBOVESPA Corporate Sustainability Index, and the IT Now IGCT Index Fund that tracks the BM&FBOVESPA Corporate Governance Trade Index.

CBOE Futures Exchange launches futures on real estate index

On 27 October 2011, CBOE Futures Exchange, launched trading in futures on Radar Logic 28-Day Real Estate indexes which measure asset values in the US residential housing market. The first futures contract listed was on Radar Logic’s 25-Metropolitan Statistical Area composite index which tracks values of the US residential housing market as a whole.

CNSX starts listing structured products

CNSX Markets announced that a new structured product has been launched for trading. These BAC Canada Finance Company 5 year Extendible Step Up Semi-Annual Pay Medium-Term Notes, Series 1 are currently trading on an “if, as and when issued” basis until 9 November 2011. The Notes are unsecured and unsubordinated debt securities of BAC Canada Finance Company (formerly Merrill Lynch Canada Finance Company). Structured products markets are growing rapidly on stock exchanges in America and Europe and CNSX plans to be Canada’s primary exchange for debt securities.

ICE launches new energy contracts

On 7 November 2011, IntercontinentalExchange launched 22 new cleared OTC contracts for global refined petroleum products, North American power and North American natural gas. ICE also announced the introduction on ICE Futures Europe of single-expiry coal options, as well as Dutch TTF Natural Gas options.

ICE Futures Canada to introduce wheat and barley contracts

ICE Futures Canada, a subsidiary of IntercontinentalExchange, intends to introduce new futures contracts for milling wheat, durum wheat and barley if federal legislation providing marketing freedom for farmers is enacted by the Canadian Parliament. The Government of Canada introduced Bill C-18, which proposes to end the Canadian Wheat Board’s monopoly for sales and marketing of Canadian wheat and barley as of 1 August 2012.

Tokyo Stock Exchange lists TOPIX Asia Focus ETF

On 4 November 2011, the Tokyo Stock Exchange listed a new ETF on the TOPIX Active in Asia Index. It comprises 25 issues selected by TSE from the TOPIX 500 component stocks based on criteria such as market capitalization and overseas sales performance in the Asia/Oceania region.

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