The Egyptian Exchange commenced its first ETF trading on Wednesday, January 14, 2015. The newly traded ETF tracks the main index, EGX 30 index, where its certificates are allowed to be traded as other securities, through brokerage firms.
The ETF nominal value on the first day of trading was LE 10 per certificate and it complied with all the applied trading mechanisms and rules except the trading suspension mechanism.
Dr. Mohammed Omran, EGX chairman stated that the commencement of trading on the first ETF in the Egyptian market is a new development and represents an increase in the market depth through providing new financial instrument other than stocks, bonds and mutual funds. He also stressed that this tool was an urgent demand by local and foreign investors and is expected to attract new investors as it represents a good hedging tool for all dealers that enables the investors to diversify the risks by investing in a basket of 30 stocks at once and at a lower trading cost.
SIX Swiss Exchange is to launch an electronic platform for trading corporate bonds in the first half of 2015. This platform will allow SIX Swiss Exchange to provide market participants with a more efficient trading of larger blocks also in less liquid issues. The new platform's innovative trading model was developed in close cooperation with current sell-side market participants.
The Egyptian Exchange (EGX) participated in the ninth Joint conference of the Egyptian-Japanese businessmen. In EGX presentation, Dr. Omran emphasized that the courageous economic reforms applied recently and in the forefront subsidy system and tax reforms have greatly contributed in the restoration of the economic stability. He stressed that the economy has begun to clearly respond, which is reflected on the high economic growth rates to reach 4% during the current fiscal year which is expected to cross this frontier during the following year. In the mean time, the budget deficit decreased as well the inflation rates, which has raised Egypt’s credit rating for the first time since 2011, a sign cannot be unnoticed.
Japan Exchange Group (JPX) and Nasdaq have officially agreed on the development and support of a next-generation derivatives trading system for the JPX subsidiary, Osaka Exchange. In addition to the trading system, which will operate on Genium INET technology, Osaka will also tap industry-leading SMARTS Market Surveillance for its real-time market surveillance efforts, and TradeGuard for pre-trade risk management functionality, both Nasdaq technologies.
Nasdaq's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across USA, Europe, Asia, Australia, Africa and Middle East. JPX is now the 42nd marketplace to take up SMARTS Market Surveillance technology.
Euronext, the leading exchange in the Eurozone, today announced the launch of options on six iShares ETFs on its highly successful and innovative Amsterdam derivatives market. The new option products will provide investors with enhanced investment opportunities in ETFs tracking a broad range of macro themes. The options on ETFs are developed and launched as a result of strong market demand. Participants in the launch are iShares (the ETF unit of Blackrock) global quantitative trading firm Susquehanna that acts as liquidity providerand asset manager Theodoor Gillissen.
The Ministry of Environment and the Korea Exchange (KRX) announced that they will hold an opening ceremony of the emissions trading market at the KRX's main office located in Busan and kick off trading on January 12, 2015.
The emissions trading market is opened pursuant to the Emissions Trading Scheme implemented since January 1, 2015 and trades KAU (Allowances allotted to corporations) and KCU (offsetting credit like CERs).
CME Group, the world's leading and most diverse derivatives marketplace, today announced the launch of physically delivered Gold Kilo Futures contracts (contract code GCK) to begin trading on January 26, 2015, pending all regulatory review periods.
This new contract, which will be listed on COMEX, builds on CME Group's existing suite of precious metals products, and will have contract listings similar to the familiar structure of the benchmark 100 troy ounce Gold Futures contract (GC) listed on COMEX. It will be tied directly to 9999 gold prices in Hong Kong and be physically-delivered in Hong Kong to provide access to round-the-clock price discovery for the Asian gold market. Being listed on COMEX ensures customers will be able to take advantage of deep margin offsets against other benchmark COMEX products and the entire suite of CME Group products.
Intercontinental Exchange, the leading global network of exchanges and clearing houses, today announced that ICE Futures Europe will introduce a new euro currency cocoa contract, which will operate in parallel with the existing London cocoa contract, which is denominated in pound sterling. The euro-denominated cocoa futures and options contracts are expected to be launched in April 2015, with a first maturity of December 2015, subject to completion of relevant regulatory processes.
Euronext, the leading exchange in the Eurozone, today announced the launch of a range of Single Stock Dividend Futures on the most liquid stocks listed on its Amsterdam, Brussels, Lisbon and Paris markets. The new dividend futures contracts will be available for trading in Q1 2015, starting with CAC 40® Index components. Euronext’s Single Stock Dividend Futures will offer investors additional dividend trading potential and will enable them to benefit from efficient pricing. The new products complement Euronext’s already existing dividend index offering made of the CAC 40® and AEX®Dividend Index Futures.
Dividends are a key component for equity and equity derivatives holders and dividend futures are mostly used as a hedging tool. However, dividends are also becoming an asset class of their own offering strong diversification opportunities to investors. Jad Comair, Founder and CIO of Melanion Capital, a leading asset manager specialized in dividend investments, strongly believes in the dividend futures potential. According to him, “One day, investors will be able to trade dividend futures on every listed equity in the world.”
Futures contracts on Sarajevo Stock Exchange’s indicator index SASX-10 will start being traded on Borsa İstanbul Derivatives Market on Monday, December 15, 2014.
Investors that wish to participate in the economic growth of Bosnia and Herzegovina will now be able to trade the futures contracts on SAS-10 Equity Index, consisting of 10 equities traded on Sarajevo Stock Exchange (SASE), on Borsa İstanbul Derivatives Market (VIOP).