NO 228 – FEBRUARY 2012
Clearing at the crossroads

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WFE Focus January 2012
New products

BM&FBOVESPA starts trading dividend and basic materials ETFs
On 31 January 2012, BM&FBOVESPA started trading two new ETFs: the IT Now IDIV ETF which tracks the Dividend Index, and the IT Now IMAT ETF which tracks the Basic Materials Index. The first ETF measures the performance of shares in companies that have the largest remuneration for investors in dividends and interest on own capital. The second ETF measures the performance of shares that are most representative of the packaging, wood and paper, miscellaneous materials, mining, chemicals, steel and metallurgy sectors.

CBOE launches trading in emerging markets ETF volatility index options
On 31 January 2012, the Chicago Board Options Exchange began offering trading in options on the CBOE Emerging Markets ETF Volatility Index. It follows the introduction of trading in CBOE Emerging Markets ETF Volatility Index security futures at CBOE Futures Exchange on 9 January 2012. Investors can use either or both products to hedge emerging markets volatility exposure or make direct plays on emerging markets volatility. CBOE Emerging Markets ETF Volatility Index options and security futures are the first of several ETF-based volatility index products planned for launch at CBOE and CFE in 2012.

CBOE Futures Exchange launches futures on residential housing index
On 2 February 2012, CBOE Futures Exchange launched futures trading on the Radar Logic 25-Metropolitan Statistical Area RPX Composite Index. It tracks US residential housing values as a whole.

CME Group develops OTC ferrous risk management products for China
CME Group and Mysteel, China’s leading provider of ferrous price and indexing services, have signed an agreement to develop risk management products for the ferrous industry based on Mysteel’s market-leading price data services. The products will be listed by NYMEX and cleared by CME Clearing.

ICE Futures Europe launches futures contracts on EUAAs
IntercontinentalExchange announced that its subsidiary, ICE Futures Europe, introduced futures contracts on European Union Aviation Allowances (EUAAs) on 27 February 2012, subject to regulatory approval.

Korea Exchange lists new ETF
On 20 January 2012, the Korea Exchange listed KODEX 10-year KTB ETF. Its underlying asset is the F-LKTB index that tracks the nearest month contract of 10-year KTB Futures.

NASDAQ OMX launches spot gold futures
The NASDAQ OMX Group, in partnership with Ikon Global Markets, a futures commission merchant offering foreign exchange, futures and options, launched NASDAQ OMX XAU/USD Spot Gold Futures on the NASDAQ OMX Futures Exchange. The contract seeks to simulate the OTC spot gold market trading experience.

National Stock Exchange of India receives market regulator approval for new derivatives
The Securities and Exchange Board of India, the national regulator, approved the introduction by the National Stock Exchange of India of cash settled futures on 2-year and 5-year notional coupon, bearing government security.

Santiago Stock Exchange to launch ETFs
In the second semester of 2012, the Santiago Stock Exchange will launch ETFs trading whose underlyings  will be the following Chilean equity market indices: IPSA, IGPA and Inter 10 indices.

Tokyo Stock Exchange lists new ETF
On 23 February 2012, the Tokyo Stock Exchange listed a new ETF called “MAXIS TOPIX Risk Control (5%) ETF”.

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