In early January, MSCI announced which companies in its indexes would be affected by the changes to the Global Industry Classification Standard (GICS) that it rolled out in November 2013. The classification changes become effective Feb. 28.
A late January press release from S&P Dow Jones Indices indicated that the S&P Case-Shiller Home Price indexes were continuing to rise as of November 2013. The 10-city and 20-city composite indexes were up 13.8 and 13.7 percent, respectively, over the 12-month period, but both composite indexes fell 0.1 percent during the month of November.
Scott Stark, head of Russell Indexes Europe, left the firm at the end of October, according to sources.
Prior to Russell, Stark was head of European index business development at Markit. Before joining Markit, Stark worked as chief executive of the index division of EuroMTS, and earlier as CEO of index provider Stoxx.
Stark, who was at Russell for the last three years, had been instrumental in building out the firm’s European presence.
MSCI appointed former UBS managing director Chris Corrado as chief information officer in early October. The role is newly created, and Corrado is the first to hold the position.
Corrado is New York based and reports to MSCI chairman and chief executive Henry Fernandez. Corrado is also MSCI managing director and a member of the firm’s executive committee.
Seven Investment Management (7IM) with NYSE London International Financial Futures and Options Exchange (LIFFE) are working on development of futures linked to smart-beta indexes, a first in the market. Completion of the joint venture is expected around April 2014.
The new futures will have a smart-beta approach as an underlying index rather than an index weighted by market capitalization. They will trade on Bclear, NYSE LIFFE’s cleared service for equity derivatives.
CBOE Holdings said in a press release that its total contract volume for October was over 126 million, with an average daily volume (ADV) of 5.49 million contracts. That’s an increase in total volume of 34 percent from October 2012.
Deutsche Bank in November rolled out a China-focused ETF that it says is the first U.S.-listed ETF to provide investors direct equity exposure to the world’s second-largest economy via the China A-shares market, in which foreign investment has historically been limited. Other China-focused ETFs use derivatives rather than direct access.