The International Organization of Securities Commissions (IOSCO) today published a research note on Market-Based Long-Term Financing Solutions for SMEs and Infrastructure. The note is a compilation of recent examples of capital market solutions in developed and emerging markets that have contributed to the financing of small and medium enterprises (SME) and infrastructure projects.

The research note was prepared for the G20 Finance Ministers and Central Bank Governors. It describes innovative structures and products in equity capital markets, debt capital markets, securitization and pooled investment vehicles that provide practical solutions to broadly recognized challenges for financing of SMEs and infrastructure projects.

Wednesday, October 1, 2014

Deutsche Börse has joined the United Nations' Sustainable Stock Exchanges initiative (SSE). The aim of the initiative, founded by the UN Secretary-General in 2009, is to increase exchange-listed companies' transparency and commitment to environmental, social and corporate governance issues and to make the capital market more aware of these issues.

Wednesday, October 1, 2014

Singapore Exchange (SGX) acquired the remaining 51% of Singapore-based Energy Market Company (EMC) from the Energy Market Authority (EMA), making EMC a wholly-owned subsidiary of SGX.
This acquisition will allow EMC to leverage SGX’s expertise and operational synergies to provide better services to market participants at more competitive rates. For a start, wholesale electricity market participants will benefit from two percent savings in market fees over the next three years.


Wednesday, October 1, 2014

Intercontinental Exchange (NYSE:ICE), the leading global network of exchanges and clearing houses, announced that it has successfully completed the transition of the Liffe London soft commodity futures and options contracts to ICE Futures Europe. These products are now listed on the ICE trading platform, which is also home to the ICE Futures U.S. soft commodity futures and options that include Sugar 11, Cocoa, Coffee, Cotton and Frozen Concentrated Orange Juice contracts. For the first time, global soft commodities contracts are available for trading side by side on the same widely distributed, feature rich trading platform.

Wednesday, October 1, 2014

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.  

Tuesday, September 30, 2014

TMX Group Limited today announced that it has selected Lou Eccleston to lead the organization as its Chief Executive Officer (CEO). Mr. Eccleston, who will assume the role effective November 3, 2014*, will also become a member of the TMX Group Limited Board of Directors.

Mr. Eccleston brings to TMX Group more than 30 years of extensive experience gained in senior leadership roles in the information services, financial technology and capital market services sectors. Most recently, he was President, S&P Capital IQ and Chairman of the Board, S&P Dow Jones Indices, which are business lines of McGraw Hill Financial. He was with that organization for 6 years. Previously, Mr. Eccleston was at Thomson Financial for 4 years in the roles of President of Global Sales, Marketing & Services and President of the Banking and Brokerage Group. Mr. Eccleston was at Bloomberg LP for 14 years, where he held a number of roles including chief executive of Bloomberg Tradebook for 6 years. He also served as Chairman and CEO of Pivot Inc., a capital market software services company.

Tuesday, September 30, 2014

The Ministry of Environment and the Korea Exchange (KRX) announced that they will start a mock emission trading from Sep. 29 (Mon.), 2014 in order to successfully open an official Emission Trading Market in Jan. 2015.

- The mock market will be operated in two (2) phases until Dec. 24 (Wed.) based on an emission trading system to be developed by the KRX.

Tasks to be done in the phase 1 include: system integration among KRX, Greenhouse Gas Inventory & Research Center of Korea, Koscom, and settlement banks; a test for submission of orders and execution of transactions by companies with emission allowance; and education for the companies on the mock trading.

Tasks to be done in the phase 2 include: with the participation of all companies allotted with emission allowance by the Ministry of Environment, all through process of the emission trading from order placement and execution of transactions to clearing and settlement to be conducted in the environment as same as that of the real regular market.

- The mock trading market is expected to serve as a good opportunity for each company to experience the whole trading process in advance as companies will be allowed to directly get access to the KRX trading system from their place of business.

Friday, September 26, 2014

BM&FBOVESPA (BVMF) and China Financial Futures Exchange (CFFEX) announce they have agreed a memorandum of understanding (MOU) to enhance mutual understanding, promote bilateral support and facilitate development for both exchanges. The main scope of exchanges agreement covers information sharing, high level dialogue, training and staff exchange and business cooperation.

"This agreement further strengthens the relationship with the financial market in China. The purpose is to explore all possibilities of concrete business between the two exchanges, taking advantage of the strong potential of the two markets and develop new channels for this long-term cooperation”, said Edemir Pinto, CEO of BM&FBOVESPA

"It is essential for CFFEX to strengthen cooperation and exchange with overseas partners such as BM&FBOVESPA. I’m confident that such cooperation will greatly benefit both exchanges and help to achieve a win-win outcome and common prosperity." said Hu Zheng, CEO of China Financial Futures Exchange.

Friday, September 26, 2014

S&P Dow Jones Indices (S&P DJI), one of the world’s largest providers of financial market indices, and Toronto Stock Exchange (TSX) announced the launch of the S&P/TSX Composite Shareholder Yield Index and the S&P/TSX Composite Buyback Index.

The S&P/TSX Composite Shareholder Yield Index is designed to measure the performance of the top 50 stocks with the highest shareholder yield in the S&P/TSX Composite. Shareholder yield ratio is derived from the payment of dividends to common shareholders, the monetary amount companies spend in their common stock repurchase programs, and debt paydown (change in total debt) over the last four calendar quarters. Horizons ETFs Management (Canada) Inc. (Horizons ETFs) has licensed the S&P/TSX Composite Shareholder Yield Index as the basis for a potential new exchange traded fund for the Canadian Market.

The S&P/TSX Composite Buyback Index is designed to measure the performance of the 50 constituent companies in the S&P/TSX Composite with the highest buyback ratio in the last 12 months. The buyback ratio is defined as the amount of cash paid for common share buybacks in the last four calendar quarters divided by the total market capitalization of common shares at the beginning of the buyback period.

Thursday, September 25, 2014

Eight new exchange-traded notes (ETNs) issued by ETFS Foreign Exchange Limited have been tradable on Xetra since Thursday.  

The eight new currency ETNs allow investors to participate in the performance of currency indices with a leverage factor of five for the first time. The underlying ETNs track the exchange rate movements of the euro to the Australian dollar, Japanese yen, Swiss franc and US dollar. Depending on the ETN selected, investors have the opportunity to benefit from a rising or a falling euro exchange rate. The new products are listed in the attached table with ISIN and total expense ratio. 

Exchange traded notes are passive investment products that track the performance of underlying reference indices. Unlike exchange traded commodities (ETCs), which are also listed on Deutsche Börse, ETNs are based on indices outside the commodities sector. ETCs and ETNs are both types of exchange tradable bond.

Deutsche Börse’s product range in the ETF and ETP segment currently comprises 1,038 ETFs, 223 ETCs and 149 ETNs. This selection, together with an average monthly trading volume of around €10 billion, makes Xetra Europe’s leading trading venue. 

Thursday, September 25, 2014