NO 227 – JANUARY 2012

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WFE Focus January 2012
New services

Athens Exchange unveils new fees and pricing policy
On 22 December 2011, the Board of Directors of Athens Exchange decided to implement a new pricing policy for the derivatives market, more specifically, on share and index futures and options contracts fees. The decline in prices of the underlying values had made the derivative products’ fees less competitive. The Board also decided significant reductions (between 40%-70%) in the annual members’ subscription fees. The new pricing policy took effect on 1 January 2012. In addition, the Board approved a new methodology for the limitation of the increased intraday volatility of stock prices that present low transaction value.

BM&FBOVESPA encourages listed companies publish sustainability report
BM&FBOVESPA is recommending that as of 2012 listed companies state whether they publish a regular sustainability report and where it is available, or explain why not. This report-or-explain initiative will encourage the adoption of sustainability reporting by a steadily growing number of listed companies. The goal is to make this database publicly available at Rio+20, the United Nations Conference on Sustainable Development which will take place in Rio de Janeiro from 20 to 22 July 2012.

Gretai launches CSR website
On 21 November 2011, the Gretai Securities Market established a Corporate Social Responsibility site on its website to provide the securities market with better services, enhance the awareness to CSR in GTSM market and help the GTSM-listed companies gradually implement corporate social responsibility. It contains information on corporate social responsibility implemented by domestic and foreign companies.

Hong Kong Exchanges to start after-hours futures trading
Hong Kong Exchanges and Clearing plans to start after-hours futures trading in the second half of 2012, subject to the approval of the necessary rule amendments by the Securities and Futures Commission and market readiness.

Qatar Exchange launches debt market
The Qatar Exchange announced full readiness for the launch of a debt market. On 29 December 2011, it started to trade Qatari government short term Treasury Bills.

Shanghai Stock Exchange promote online investors’ school
To further deepen investor education, the Shanghai Stock Exchange has joined hands with leading securities companies to make every effort in building an online investors’ school. 67 episodes of video programs of elementary and intermediate courses for small and medium-sized investors have already been put online on the SSE’s website.

Shenzhen Stock Exchange launches updated version of its investors’ channel
In order to provide a convenient, quick internet-based communication channel for investors and listed companies, the Shenzhen Stock Exchange launched a new version of its “Listed Companies and Investors Relation Interaction Platform” on 12 November 2011.

Singapore Exchange introduces investor education portal
The Singapore Exchange introduced a portal called “My Gateway” to meet increasing investor interest for more investment knowledge and education. It provides one-stop shop access to market updates, video clips on investment products, information on seminars or courses which investors can sign up for, and tools like investment or profit and loss calculators. 

Thailand Futures Exchange launches 2012 investor expansion plan
The Thailand Futures Exchange gears up its 2012 plan to grow trading volume and expand investor base. The plan includes the launch of new product, US dollar futures, and extensive educational and marketing programs for investors. TFEX together with derivative brokers and alliances will promote the market and expand the investor base by emphasizing on building product knowledge and trading strategy expertise for investors. In addition, TFEX will focus on boosting trading liquidity, and developing new products to cover the entire investment spectrum.

Tokyo Stock Exchange launches TSE Market Impact View
On 13 December 2011, the Tokyo Stock Exchange began to offer an innovative new web service: TSE Market Impact View. The new service allows users to get an intuitive understanding of whether the orders for the stock they are trading are biased towards bids or offers, select stocks for which orders are biased on the upside (downside), observe the bid/offer order bias for a number of different stocks as a whole, and select stocks for which the order book is deep and prices are less volatile.

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