Journal of Indexes Staff

Journal Of Indexes

iShares Appoints New Europe Head

iShares said in early August that it has appointed a new head of its exchange-traded fund business in Europe, the Middle East and Africa, following the departure of Joe Linhares.

Rachel Lord, previously global head of corporate equity derivatives at Citi, replaced Linhares, who had spent three years spearheading European operations at iShares.

A representative at iShares confirmed that Linhares will return to the U.S., but said he will remain in Europe until the end of the year to ensure a smooth transition.

Journal Of Indexes

S&P DJI Opens South Africa Office

In early September, S&P Dow Jones Indices announced the opening of its first office in Johannesburg, South Africa.

The index provider has also hired Zack Bezuidenhoudt as the head of sales in South Africa and Sub-Saharan Africa, the press release said. He joined S&P DJI from the institutional sales group at Old Mutual Investment Group and will be based out of the Johannesburg office. Bezuidenhoudt reports to the head of S&P DJI's Middle East and Africa operations, Charbel Azzi.

Journal Of Indexes

Browne Leaves Knight For Cantor

Reggie Browne, perhaps the best-known ETF market maker in the world, as well as his trading team, were hired by Cantor Fitzgerald's ETF market-making team in mid-September, less than a week after leaving a similar post at KCG Holdings.

Browne, known as the "godfather of ETFs," became famous at KCG's predecessor company, Knight Capital Group, for making sure that not-so-heavily traded ETFs traded efficiently. Browne helped build up Knight's ETF market-making operation into the biggest of its kind in the world.

Journal Of Indexes

MSCI Names Hastings Chief Marketing Officer

MSCI said in a late September press release that it had named Darla Hastings as its chief marketing officer. She joins the index provider from the legal firm Norton Rose Fulbright, where she served in the same position. Previously, Hastings was the chief marketing officer of Dimensional Fund Advisors.

Journal Of Indexes

PowerShares Names Draper As ETF Head

Invesco PowerShares named Dan Draper its global head of ETFs, succeeding in some sense Ben Fulton, who stepped down from a similar role at the Downers Grove, Ill.-based firm earlier this year.

Draper, who began his duties as managing director of Invesco PowerShares' global ETFs on Sept. 16, joined the No. 4 U.S. ETF firm by assets from Credit Suisse, where he headed up that firm's European ETF operation before it was purchased by BlackRock's iShares unit earlier this year.

Journal Of Indexes

NYSE Liffe Plans Gold Miners Futures

The NYSE Liffe U.S. futures exchange said in a press release that a futures contract tied to the NYSE Arca Gold Miners Index would begin trading on Oct. 7. The underlying index is a global benchmark weighted by modified market capitalization and covers companies whose primary activity is gold mining; stocks can be selected from across the size spectrum.

Journal Of Indexes

CBOE Holdings Sees Y-O-Y Rise In August Contracts

CBOE Holdings said the combined volume of its exchanges stood at 101.72 million contracts for August 2013, a 17 percent increase in average daily volume from August 2012.

Options contracts saw their average daily volume increase 15 percent, year-over-year. Although equity options average daily volume was down 6 percent, index options were up 35 percent, and options on exchange-traded products were up 21 percent.

Journal Of Indexes

VelocityShares Unveils Risk-Weighted ETF

VelocityShares ended July with the rollout of a risk-weighted ETF focused on large-cap U.S. equities.

The VelocityShares Equal Risk Weighted Large Cap Fund (ERW) has an annual expense ratio of 0.65 percent.

The target weighting of each stock in ERW is determined using a proprietary risk-weighting methodology that measures a stock's risk exposure and then weights each stock so that each is expected to contribute the same level of risk to the portfolio. The index is rebalanced quarterly, the prospectus said.

Journal Of Indexes

New Global X ETF Offers Cheap MLP Exposure

In early August, Global X Funds debuted another ETF targeting the MLP space. The Global X MLP & Energy Infrastructure ETF (MLPX) comes with an expense ratio of 0.45 percent, undercutting other MLP-related ETFs on the market.