FiNETIK – Asia and Latin America – Market News Network

Asia and Latin America News Network focusing on Financial Markets, Energy, Environment, Commodity and Risk, Trading and Data Management

June 26, 2008 • 7:20 pm 1

Tokyo Stock Exchange list’s Brazilian ETF’s

ETFs are funds listed and traded on stock exchanges, which are commonly referred to as “listed investment trusts” in Japanese. Like stocks, investors can trade ETFs on stock exchanges through securities companies.

ETFs aim for “asset management linked to specified stock price indexes, etc.,” and as such, have the quality of very closely tracking the market prices of the underlying stock price index, etc.

“NEXT　FUNDS　Ibovespa Linked Exchange Traded Fund” ETF managed by Nomura Asset Management Co., Ltd. and the “Daiwa ETF・TOPIX-17″ , a group of 17 ETFs managed by Daiwa Asset Management Co. Ltd., are slated to list on the Tokyo Stock Exchange on July 17, 2008, and July 23, 2008, respectively.

List of TSE-listed ETFs

ETF management company websites:

NEXT　FUNDS　Ibovespa Linked Exchange Traded Fund  Nomura Asset Management Co.,Ltd.
Daiwa ETF TOPIX-17  Daiwa Asset Management Co.Ltd.

In its medium term management plan, the TSE set a goal of 100 ETFs listed on the TSE within the next three years. We will continue to make efforts to diversify our ETF lineup in order to live up to the expectations of investors.

Source: TSE June 26,2008

Filed under: Asia, Brazil, Exchanges, Japan, Latin America, News, Services , , , , , , , , ,

June 25, 2008 • 8:12 am 0

ASEAN:Six-country Asian board due in 2009

Bangkok Post |NUNTAWUN POLKUAMDEE | 24.06.2007

The new six-country Asian board should begin operations by mid-2009, comprising 180 stocks representing the 30 largest listed companies for each market.

Nongram Wongwanich, an executive vice-president for the Stock Exchange of Thailand, said officials of the six participating exchanges hoped to select a vendor in August to set up a trading system for the new board.

The two vendors being considered are NYSE Euronext and the Nasdaq OMX Group. The vendor would be responsible for establishing a trading platform allowing real-time updates for all securities on the board.

The Asian board concept is aimed at facilitating links between the stock exchanges of Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam. The 180 securities to be included in the new board would have a combined market capitalisation of US$818.66 billion, or 59% of the combined market capitalisation of the six exchanges based on current data.

Financials would lead the board in terms of industry, followed by industries and consumer goods.

Mrs Nongram said that by joining together, the six Asean members could raise their profile in the global financial market beyond what any single exchange could do on its own.

If the Asean stock markets were combined, the resulting entity would rank 13th in the world, according to the World Federation of Exchanges. The Asian board alone would rank 20th among WFE members.The Asian board would first start with Thailand and Singapore, to be followed by the other four markets.

Mrs Nongram said the SET would select securities for participation based on companies ranked in the SET50 index. Final selections would be based on market capitalisation, trading liquidity and the availability of information, such as research coverage by analysts.

The SET would consider expanding the bid-offer limits for securities, as some exchanges allow matching at up to five levels compared with the three levels used in Thailand.

Filed under: Asia, Exchanges, Indonesia, Malaysia, News, Singapore, Thailand, Vietnam , , , , , , , ,

• 2:41 am 0

The Hong Kong Mercantile Exchange wants to serve energy-thirsty China by launching an oil futures contract that caters to the mainland

In a move aimed at strengthening Hong Kong as the financial capital of China, the Hong Kong Mercantile Exchange on June 25 unveiled plans to launch its first product, oil contracts, by early next year. The exchange wants to capitalize on the booming demand for commodities in resource-hungry China. “There is a huge opportunity to develop a commodities futures market that can cater to the mainland,” said John Tsang, Hong Kong’s financial secretary, in a statement accompanying the announcement of the new plan.

Hong Kong’s exchange isn’t the only one looking to capitalize on Chinese demand. The announcement came just days after the Chicago Mercantile Exchange (CME) opened its new Asia Pacific headquarters in Hong Kong. The new CME office, opened June 20, illustrates the growing importance of the region for commodities trading. For example, crude oil consumption in China grew at a compound annualized rate of 7.7% between 2001 and 2007.

Yet while China is one of the world’s biggest consumers of oil, it has had little say in the pricing of oil globally. “With rapid commodity imports comes the need for customers to be able to hedge their pricing exposure,” Barry Cheung, the exchange chairman, said at a press conference in Hong Kong on June 25. Futures markets in New York and London are the main price-setting mechanism for oil, while Dubai is making efforts to establish itself in energy futures.
Shanghai Futures Aren’t Open to Global Traders ….full article click here

Source: BusinessWeek 25.06.08 by Frederik Balfour Asia Correspondent

Filed under: News , , , , , ,

June 17, 2008 • 12:16 pm 0

SunGard extends trading connectivity in APAC with MetaBit

SunGard has integrated its SunGard Transaction Network (STN) with Japan-based trading hub, MetaBit.

This will help SunGard’s buy-side and sell-side customers automate their trading connections with institutions in the Asia-Pacific region thereby helping improve integration, automation and connectivity of the international trade lifecycle.

Based in Tokyo, MetaBit is Japan’s only provider of a pure local FIX trading hub providing bilateral order flow for cash equities, index futures, options, and commodity futures, giving buy-side institutions direct electronic access to 34 brokers and ten exchanges.

STN facilitates global execution through a single point of access and the integration with MetaBit now provides bilateral links to each other’s regional trading communities from their home markets. In addition, SunGard’s Brass, an integrated sell-side trade and order management solution suite, will use STN to provide its U.S. brokerage customers with distribution access to global investment managers.

In the past, institutions used multiple networks to reach various regional pockets of trading. Today, more wealth managers are trading internationally and investing in Europe and Asia-Pacific. STN’s comprehensive regional coverage through hub-to-hub connectivity between regions and countries helps eliminate the need for buy-side institutions to maintain separate network connections in these regions. STN provides one connection that offers real-time trading and also uses industry standards such as SWIFT and FIX protocol formats, as well as proprietary trade messaging formats to help maintain operational efficiency.

“Connecting MetaBit’s MLH FIX network with SunGard’s STN creates a powerful value proposition for MetaBit’s Japan and Asian customer base to trade in U.S. markets. At the same time, U.S.-based customers of STN will be offered seamless connectivity to Asia-Pacific. The network-to-network connectivity between MetaBit and STN creates a truly global FIX trading network, built on local, specialized market expertise,” said Daniel Burgin, chief executive officer, MetaBit.

Bob Ward, chief operating officer of SunGard’s wealth management business, said: “STN’s integration with MetaBit provides for a wide-range of coverage and local expertise in the Asia-Pacific region. In today’s volatile markets, real-time automated trading networks are essential to facilitate cross-border financial transactions. By providing access to financial markets around the world, STN and Brass are able to help SunGard’s wealth management and broker-dealer customers support their global trading initiatives in a fast, efficient and seamless environment.”

Filed under: Asia, Exchanges, FIX Connectivity, Japan, News, Trading Technology , , , , , , , , , , , , ,

June 15, 2008 • 5:35 pm 0

BMV Mexican Stock Exchange IPO raised USD 443 mn

Update June 16: Bolsas y Mercados Espanoles takes stake in Bolsa Mexicana de Valores

BMV IPO prospectus June 13, 2008

Update June 13: Mexican stock exchange IPO might draw partners

MEXICO CITY, May 21 (Reuters) – Mexico’s stock exchange said on Wednesday it expects to raise 4.6 billion pesos ($440 million) in an initial public offering of its own shares in June.

Bourse chief Guillermo Prieto said the exchange aimed to price the shares on June 12 and begin trading the next day.

“The Mexican market has great development potential and this should give it an extra push,” he told a news conference……read full story by Reuters, By Michael O’Boyle and Lizbeth Salazar 21.05.2008

LOS ANGELES May 21, 2008 (Menafn – MarketWatch) — Mexico’s stock exchange operator says it’s ready to go public in its home market and in the U.S. next month in an offering that could raise as much as 4.6 billion pesos, or about $444 million.

Bolsa Mexicana de Valores, or BMV, said in a preliminary prospectus released Wednesday that it plans for 121 million shares to be sold in Mexico and for 158 million shares, including an over-allotment option, to be sold in the U.S.

The price range for the shares is 14 pesos ($1.35) to 19 pesos. The exchange foresees pricing to occur on June 12, with trading to begin in the following session.

“When a stock exchange becomes public, it gives lot of [investment] credibility for the country and mainly for the exchange,” said Victoria Saddi, senior Latin American economist at RGE Monitor, who said the low price of the shares should be attractive to foreign investors… read full story, Menafn – MarketWatch, By Carla Mozee, 21.05.2008

Filed under: News , , , , , , ,

June 1, 2008 • 12:21 am 0

African, Asian and European Exchanges converge on Vietnam to offer listing opportunities

Ho Chi Minh City, May 31st – 5 exchanges join for a Listing panel to offer Vietnamese
companies a comparative insight listings requierments and opportunities abroad.

Tokyo Stock Exchange, Bursa Malaysia, Cairo & Alexandria Exchange, OMX Nasdaq and London Stock Exchange will come together on one stage and openly discuss their competitive advantages to attract Vietnamese companies to list on their floors.

This rare gathering is part of the annual Asian Traders and Investor Convention in Vietnam. The event is organized by TheNextView and is expected to attract 10’000 visitors.

As Stephen Lai CEO of TheNextView  (a Singapore based company) explained: “We have invite directors of all the local listed companies, especially those with strong business plan with viable investment projects, to come to listen to the senior representatives of overseas stock exchanges explain how they have simplified listing rules and processess for Vietnamese companies.

This is a unique opportunity to compare the listing conditions between exchanges when they are all in the same room at the same time!

There are many good reasons why CEOs of listed companies should consider co-listing in overseas stock exchanges, let me just name three here.

  • Co listing means you can tap more easily into world capital markets
  • It’s easier for foreigners to invest in a co-listed stock than it is to invest directly in Vietnam
  • Co-listing makes the company available to overseas retail investors rather than just fund managers

He further added “TheNextViews mission is to connect the key stakeholders within Asia’s financial eco-system, i.e. securities exchanges, securities companies, fund managers, listed companies, and private investors, to form a powerful investment network.”

FiNETIK Partners May 31st, 2008
www.finetik.com

Filed under: Events, News , , , , , , , , , , , , ,