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Commodities Briefing - Category | New Launches more

SocGen launches metals trading platform‎

Posted on 04 July 2012 by VRS  |  Email |Print

French bank Societe Generale SA has launched an electronic trading platform focused on trading London Metal Exchange base metals futures, the category one ring dealing member of the exchange said Tuesday.
The platform, to be known as Alpha Metals, provides Societe Generale’s clients with direct access to the LME’s own electronic trading platform, LME Select. It also offers post-trade services………………………………………..Full Article: Source

Barclays opens up commodities absolute return fund

Posted on 22 June 2012 by VRS  |  Email |Print

Barclays has launched a sterling share class of its absolute return commodity fund, as part of its drive into the UK wealth manager market.
Nathan Bance, director of UK investor solutions at the firm, said the sterling share class is aimed at wealth managers, family offices, as well as retail fund managers………………………………………..Full Article: Source

Commodity exchange market to be established soon

Posted on 18 June 2012 by VRS  |  Email |Print

The Ministry of Trade and Industry (MOTI) in collaboration with the Securities and Exchange Commission (SEC) is to establish a Commodity Exchange Market where farm produce could be traded on the stock market.
The move, according to Mr. Adu Anane-Antwi, Chairman of the SEC, was to reduce post harvest loses as it provided farmers ready markets for their goods………………………………………..Full Article: Source

Tokyo Commodity Exchange to launch agricultural market in February 2013

Posted on 11 June 2012 by VRS  |  Email |Print

The Tokyo Commodity Exchange (TOCOM), Japan’s largest commodity futures exchange, will accept the transfer of soybeans, azuki, corn and raw sugar contracts from the Tokyo Grain Exchange (TGE). The decision was made at the board of directors meeting on May 30.
TOCOM said it plans to launch an agricultural market in February 2013 and will manage the processing of open positions and orders remaining on the TGE market………………………………………..Full Article: Source

Northeast Asia Commodity Exchange opens

Posted on 01 June 2012 by VRS  |  Email |Print

Both the Northeast Asia Commodity Exchange opening ceremony and the headquarters building cornerstone laying ceremony was held in Dalian, Liaoning province on May 29, 2012.
The newly-established Northeast Asia Commodity Exchange is expected to realize a trade volume of 400 billion yuan ($63.16 billion), earning revenue of 400 million yuan, and paying 200 million in tax annually. ……………………………………….Full Article: Source

Ghana prepares to launch commodity exchange

Posted on 30 May 2012 by VRS  |  Email |Print

Ghana has overhauled its grain warehousing system as it gets set to become the sixth African country to open its own commodities exchange.
The Ghana Grains Council announced that it will launch a warehouse receipt system in August, as part of the development of a commodity exchange………………………………………..Full Article: Source

French trio to launch Belaco commodities fund

Posted on 22 May 2012 by VRS  |  Email |Print

In a year when many commodity investors have been disappointed with their returns, senior managers in the commodities division of Societe Generale are leaving the French bank to launch Belaco Capital, to help put this to right.
The discretionary hedge fund will be managed from Paris, and is expected to launch in the fourth quarter of 2012………………………………………..Full Article: Source

ABN AMRO mulls mining, energy infrastructure funds

Posted on 17 May 2012 by VRS  |  Email |Print

Dutch bank ABN AMRO is preparing to launch a $300 million global fund to back mining exploration and give its clients exposure to the sector, followed by a launch of an infrastructure fund to capitalize on logistical shortfalls in energy transportation.
The mining fund is expected to launch imminently, and will back the exploration of mining sites, said Harris Antoniou, the bank’s head of Energy, Commodities and Transportation………………………………………..Full Article: Source

India: Commodity Exchange and Warehousing System operational next year

Posted on 08 May 2012 by VRS  |  Email |Print

The country’s long-awaited Commodity Exchange and Warehouse Receipt System will still not be fully operational until the middle of next year.
The system will provide farmers with financing and ready market through trading in their produce as is the case with equities on the Ghana Stock Exchange. Its draft Legal and Regulatory framework has been developed and handed over to the Trade Ministry………………………………………..Full Article: Source

Vontobel launches new commodity fund

Posted on 04 May 2012 by VRS  |  Email |Print

Vontobel Asset Management has launched an actively-managed commodities fund at at time where there has been a wave of support for the commodities sector.
The Vontobel Fund Belvista Dynamic Commodity fund will be run by Vontobel subsidiary Harcourt and will build on the approach of its existing strategy, the Belvista Commodity fund………………………………………..Full Article: Source

UBS launches 2nd broad commodities ETN

Posted on 27 April 2012 by VRS  |  Email |Print

UBS, the Swiss-based bank known for its private-banking arm, added to its family of exchange-traded notes today with the launch of a broad commodities-focused ETN that provides blended exposure to a total of 28 commodities and that’s designed to control the deleterious effects of contango.

The ETRACS DJ-UBS Commodity Index 2-4-6 Blended Futures ETN (NYSEArca: BLND) comes with an annual expense ratio of 0.70 percent, and is so named because it is an equal weighted portfolio among three Dow Jones-UBS indexes that cherry pick different parts of the futures curve………………………………………..Full Article: Source

German commodity group plans 1 bln euro fund

Posted on 26 April 2012 by VRS  |  Email |Print

An alliance of German companies set up to secure raw materials supplies, is planning to launch a fund to attract up to 1 billion euros ($1.3 billion) to invest in commodity projects, its director was quoted as saying in a German newspaper.

The alliance, which aims initially to invest in exploration for rare-earth metals, wants to create the fund because long-term projects such as these are sometimes only able to attract bank finance in later stages, alliance director Dierk Paskert told Wednesday’s Financial Times Deutschland………………………………………..Full Article: Source

Commodities repository begins operations

Posted on 20 April 2012 by VRS  |  Email |Print

The Depository Trust and Clearing Corporation has gone live with the first global trade repository for commodities following a pilot programme that has been running since January.
The repository represents a joint venture with EFETnet, an independent company owned by the European Federation of Energy Traders, which was created to drive electronic data exchange standardisation………………………………………..Full Article: Source

Nasdaq launches commodity indexes

Posted on 19 April 2012 by VRS  |  Email |Print

The Nasdaq Global OMX Index Group is rolling out a family of 450 commodity indexes on April 23 that is designed to measure the performance of single commodities as well as sectors through the use of futures contracts.
The new Nasdaq Commodity Index family consists of a broad benchmark, an open interest and liquidity-based index, 33 single indexes and five major sectors that include energy, industrial metals, precious metals, agriculture and livestock. Narrower sectors include petroleum, grains and softs…………………………………………Full Article: Source

New agriculture index fund covers 14 commodities

Posted on 19 April 2012 by VRS  |  Email |Print

United States Commodity Funds, provider of the world’s largest oil exchange traded fund, has rolled a new ETF that holds a basket of 14 widely traded farm-related futures.
United States Agriculture Index Fund (USAG), tracking the SummerHaven Dynamic Agriculture Index Total Return, offers exposure to soybeans, corn, soft red winter wheat, hard red winter wheat, soybean oil, soybean meal, canola, sugar, cocoa, coffee, cotton, live cattle, feeder cattle and lean hogs…………………………………………Full Article: Source

Former UBS executives to start London commodities hedge fund

Posted on 30 March 2012 by VRS  |  Email |Print

Neal Shear, who spent 25 years at Morgan Stanley, and Jean Bourlot, former commodities head at UBS AG, are starting Higgs Capital Management LLP, a commodities hedge fund in London.
The fund will cover energy, agriculture and metals, Bourlot said by phone from London today. Shear will be chief executive officer and Bourlot will be chief investment officer, he said. Neville Atha, who joins from Jabre Capital Partners, will be chief operating officer………………………………………..Full Article: Source

Deutsche Bank to open London gold vault

Posted on 20 March 2012 by VRS  |  Email |Print

Deutsche Bank plans to open a new precious metals vault in London next year, seeking to cash in on booming investor demand for physical gold and silver, the Financial Times reported on Tuesday.
In London, centre of the global bullion market, vault space is running low even as the growth in exchange-traded funds backed by physical precious metals has led to a steep rise in demand for vaults………………………………………..Full Article: Source

Alpha commodity index products

Posted on 20 March 2012 by VRS  |  Email |Print

Investor interest in alpha commodity index products has surged over the past year and banks are hard at work creating more of them. Can these exotic new instruments really provide a sustainable source of absolute return? And is the market getting too crowded?
In the beginning, things were simple when it came to index products. Back in 1991, Wall Street bankers created the Goldman Sachs Commodity Index (now called the S&P GSCI) to track the prices of a basket of 24 commodities………………………………………..Full Article: Source

Man starts commodities fund despite fresh investor appetite for complex waning

Posted on 14 March 2012 by VRS  |  Email |Print

Man Group will be hoping for a revival in investors’ appetite for fresh commodities allocations, as it launches its first long-only fund dedicated to the sector after a year when allocators cut the amount of new money they gave to the complex by over 70%.
The Ucits compliant Man Commodities fund is exposed to the Man Systematic Commodity Index, a benchmark with 25 liquid futures contracts that include precious and industrial metals, energy and agricultural products, according to Man………………………………………..Full Article: Source

New ETFs created for commodities markets

Posted on 12 March 2012 by VRS  |  Email |Print

ETF Securities launched fourteen new exchange-traded commodities (ETCs, which are also more commonly known as ETFs) on the London Stock Exchange. The newly launched investment vehicles offer sterling-hedged exposure to a various commodity benchmarks as measured by Dow Jones-UBS indices.
ETF Securities announced that all fourteen ETCs would be sterling-hedged on a daily basis in order to reflect as closely as possible the performance of the underlying commodities in terms of US dollars………………………………………..Full Article: Source

Lyxor adds smart strategies to commodity ETFs

Posted on 09 March 2012 by VRS  |  Email |Print

Lyxor has launched a new range of commodity exchange-traded funds on the London Stock Exchange, offering investors broadly diversified commodity exposure through a combination of four strategies
Lyxor, the exchange-traded funds (ETFs) platform of Société Générale, has launched a range of ’smart’ commodity ETFs that deploy a combination of four strategies depending on the commodity underlying………………………………………..Full Article: Source

VelocityShares adds 8 commodities ETNs

Posted on 09 February 2012 by VRS  |  Email |Print

VelocityShares, the exchange-traded note firm known for its volatility products, today launched four bull-and-bear pairs of leveraged ETNs that tap into energy markets as well as copper through futures-type exposure.
With today’s rollout, VelocityShares is adding copper to its roster of metals plays that already tap into everything from gold to silver to platinum and palladium. The triple-exposure crude oil and natural gas ETNs VelocityShares is serving up will compete with double-exposure funds from ProShares………………………………………..Full Article: Source

Derivatives entrepreneur to launch swaps exchange

Posted on 07 February 2012 by VRS  |  Email |Print

A pioneer in the multitrillion-dollar credit-derivatives market is seeking approval for what could be the first exchange catering to privately traded derivatives, or “swaps,” instruments that currently trade off-exchange.

Sunil Hirani, who in 1999 co-founded Creditex Group, an electronic execution platform for credit-default swaps, has asked the Commodity Futures Trading Commission to approve the new venture, trueEX, as an exchange or “designated contract market” for swaps, according to documents made public on the CFTC website Jan. 31. Mr. Hirani and other staffers at trueEX also met with CFTC member Scott O’Malia on Feb. 1, CFTC records show……………………………………….Full Article: Source

Citi launches risk balanced commodity index

Posted on 01 February 2012 by VRS  |  Email |Print

Citi has launched a commodities index that allows qualified investors to invest in a portfolio of 24 commodities in a risk balanced approach.
Dubbed VIBE Commodities, the index uses historical volatility and inter-commodity correlations to weigh its 24 commodity components so that the risk contribution of each commodity to the overall volatility of the index is close to equal. (Press Release)

Hermes BPK launches fund of managed futures funds

Posted on 24 January 2012 by VRS  |  Email |Print

Fund of hedge funds firm Hermes BPK Partners has unveiled a managed futures strategy. Hermes BPK, which was formed in 2008 between BT pension scheme manager Hermes Fund Managers and a group of hedge fund professionals, will look to protect clients’ cash through concentrating investments in the medium term commodity trading advisors (CTA) market.
The fund, called Alpha Vault Managed Futures, will start life with $275 million worth of seed money………………………………………..Full Article: Source

HKEx mulls launching RMB commodities exchange

Posted on 24 January 2012 by VRS  |  Email |Print

Hong Kong Exchanges and Clearing (HKEx) is planning to construct a commodity exchange that will enable renminbi-denominated clearing services to be offered in this asset class for the first time.
The first RMB-denominated real estate investment trust (REIT) was listed by HKEx in 2011 and chief executive Charles Li says the exchange is now conducting feasibility studies into offering commodity clearing………………………………………..Full Article: Source

Lyxor Asset Management starts four more commodity exchange funds

Posted on 12 January 2012 by VRS  |  Email |Print

Nizam HamidLyxor Asset Management started four commodity exchange-traded funds tied to returns of the Standard & Poor’s GSCI Index of 24 raw materials.
The funds on the London Stock Exchange will invest in equities, not necessarily tied to commodities, and provide a total return of the S&P GSCI through a swap with Societe Generale, Lyxor’s parent company, said Nizam Hamid, deputy head of Lyxor ETFs in London. Lyxor has two other commodity-based ETFs tied to the CRB which started in 2006 and now have 1.2 billion euros ($1.52 billion) in assets, Hamid said………………………………………..Full Article: Source

Former JPMorgan commodities trader Bombell starts hedge fund

Posted on 18 October 2011 by VRS  |  Email |Print

Former JPMorgan Chase & Co. trader Damien Bombell, who left when the bank closed a unit that bet on commodities last year, started a hedge fund to invest in metals, grains and energy.
The Strand Global Macro Fund began investing this year with money provided by Bombell and his partners, he said in a telephone interview. The fund plans to start trading with capital from outside clients in January, and is seeking to have at least $200 million under management, he said……………………………………….Full Article: Source

South Korea plans new copper ETF

Posted on 06 October 2011 by VRS  |  Email |Print

South Korea’s metals stockpiling agency plans to launch a physical copper exchange-traded fund in the fourth quarter, the latest effort to create a simple-to-use vehicle for the metal that would appeal to a wide range of investors and the first of its kind in Asia.
The fund, to be listed on the Korean Exchange, would be managed by Korean asset-management company Mirae Asset MAPS Global Investments. If it is a success, Korea’s Public Procurement Service will roll out ETFs for other base metals such as aluminum, nickel and zinc……………………………………….Full Article: Source

China launches iron ore price index

Posted on 21 September 2011 by VRS  |  Email |Print

China, the world’s biggest consumer of iron ore, launched its own price index for the commodity in its bid to gain a greater say in global pricing.
The iron ore index, launched after a trial period lasting more than one month, will be released on a weekly basis starting in October……………………………………….Full Article: Source

Australia to launch bullion exchange next month

Posted on 20 September 2011 by VRS  |  Email |Print

Australia’s first physical bullion exchange, an over-the-counter (OTC) spot market for gold, silver and platinum, will begin operations Oct 4, the Australian Bullion Exchange (ABX) said in a statement on Tuesday.
Bullion would be bought and sold on the exchange through listed brokers, it said, adding it was targeting a number of large financial institutions to register as members……………………………………….Full Article: Source

NBAD launches 100pct capital-protected commodity basket investment

Posted on 19 September 2011 by VRS  |  Email |Print

The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, launched 100% capital-protected commodity basket investment, a highly innovative product that allows investment in five commodities and offers investors the potential for attractive returns.

The NBAD 100% Capital protected 5-in-1 Commodity basket investment is 100% capital guaranteed by NBAD and offers investors the unique opportunity to capture upside in the highly exciting commodity markets without exposing themselves to downside risk if held to maturity……………………………………….Full Article: Source

Crisil launches Gold Index to gauge ETF performance

Posted on 30 August 2011 by VRS  |  Email |Print

Ratings agency CRISIL has launched a Gold Index to track the performance of gold prices in the domestic market. This is the first index launched by CRISIL in the commodities space.
The objective of the CRISIL Gold index is to provide an independent, relevant and common benchmark for performance evaluation of investment products with gold as underlying investment, said a release from the ratings house……………………………………….Full Article: Source

Indonesia’s JFX to launch sharia-backed commodity products

Posted on 09 August 2011 by VRS  |  Email |Print

The Jakarta Futures Exchange (JFX) will launch sharia-compliant commodity contracts in September, an official said.
“We plan to launch this new physical trading product in mid-September,” Bihar Sakti Wibowo, a director at JFX said late on Monday……………………………………….Full Article: Source

EAC seeks to establish commodity exchange

Posted on 12 July 2011 by VRS  |  Email |Print

East African governments are mulling the creation of a regional commodity exchange. The plan, if implemented, will drastically reduce costs of transactions, enhance information flow and improve returns to market participants.
The East African Community and a US-based consultancy Nicolas Berggruen Institute have started discussions to establish the market, expected to create much needed mass and demand in the bloc………………………………………..Full Article: Source

China’s first precious metals spot exchange opens in ‘silver city’

Posted on 30 June 2011 by VRS  |  Email |Print

China’s first precious metals spot exchange began trading Tuesday in Chengzhou in Hunan Province. The Hunan South Rare Precious Metals Exchange is based in China’s silver capital in Yongxing County. Its first four products to be listed are silver, bismuth, indium and tellurium.
Launched with a total investment of 260 million yuan (US$40.2 million), the exchange will offer long-term electronics transactions including spot trading, precious metal products and raw materials, and spot deferred transactions on up to 18 precious metals products……………………………………….Full Article: Source

Schroders postpones launch of commodities investment trust

Posted on 22 June 2011 by VRS  |  Email |Print

Schroders has postponed plans to launch its Schroder Opus commodity investment trust, which was to be to run by its specialist absolute return multi-manager firm.
While Schroders says this was owing to investor sentiment being uncertain about commodities, an expert has suggested the investment trust was too expensive……………………………………….Full Article: Source

Deutsche Bank launches 5 currency-hedged ETFs

Posted on 17 June 2011 by VRS  |  Email |Print

Deutsche Bank announced the addition of five new exchange-traded funds which are linked to MSCI International Indexes. Each of the new funds provide exposure to international equity markets while attempting to avoid fluctuation between the U.S dollar and non-U.S. currencies by investing in currency forwards.
“Deutsche Bank is filling a need in the marketplace by offering investors direct access to global markets with a built-in hedge against currency fluctuations,” said Chief Investment and Operating Officer Martin Kremenstien. (Press Release)

Equinox commodity strategy fund launched

Posted on 16 June 2011 by VRS  |  Email |Print

Equinox Fund Management, LLC, a sponsor of alternative investment funds has announced the launch of Equinox Commodity Strategy Fund ,a market-neutral mutual fund designed to produce returns by exploiting potential inefficiencies in the systematic selling and repurchasing of expiring futures contracts commonly employed by long-only commodity strategies.
The Fund has three classes of shares, with the symbols EQCAX, EQCCX and EQCIX……………………………………….Full Article: Source

Goldman Sachs, Clive Capital initiate commodities index

Posted on 13 June 2011 by VRS  |  Email |Print

Goldman Sachs Group Inc. (GS) and London- based Clive Capital LLP, the largest commodities hedge fund, are to introduce a commodities index, the Financial Times reported, citing a person familiar with the matter.

The index, which Goldman has begun marketing to clients, will seek to lower the risk of large losses by modifying its exposure to individual commodities over time. Clive Capital will determine on a monthly basis how much of a specific commodity the index should hold, the FT said………………………………………Full Article: Source

Schroders launches ‘high-return’ closed-ended commodities fund

Posted on 27 April 2011 by VRS  |  Email |Print

Schroders has announced it is to launch a new investment trust, structured as a Guernsey-domiciled closed-ended investment company, which will invest in a range of commodities strategies.
The Schroder Opus Commodity Fund will be managed by Schroders NewFinance Capital, Schroders’ absolute return multi-manager firm. In addition to the investment through a range of active managers, the fund will also comprise a proprietary commodities futures portfolio managed by Schroders NewFinance Capital……………………………………….Full Article: Source

iPath rolls out 18 commodities ETNs

Posted on 26 April 2011 by VRS  |  Email |Print

iPath, the arm of Barclays that is behind a successful family of volatility-related exchange-traded notes, rolled out 18 new ETNs on Thursday focused on commodities and designed to protect returns by seeking exposure that minimizes so-called contango.
Each of the new iPath Pure Beta Commodity ETNs was constructed around the concept of providing the best proxy for the average price return of the front-year futures contracts for each commodity in the index, while avoiding parts of the futures curve that are subject to persistent market distortions, the company said in a press release……………………………………….Full Article: Source

Schroders to launch commodity investment trust

Posted on 19 April 2011 by VRS  |  Email |Print

Schroders is planning to launch a commodity investment trust in June for David Mooney of Schroders NewFinance Capital.
The Schroder Opus Commodity fund will be domiciled in Guernsey and aim to offer investors access to commodities markets through a broad range of strategies through specialist active managers, alongside a proprietary commodities futures portfolio……………………………………….Full Article: Source

RAB Capital confirms mining fund launches

Posted on 05 April 2011 by VRS  |  Email |Print

RAB Capital has launched two UCITS III funds targeting returns from mining, natural resources and ‘precious equities’. Trading from 11 April, the RAB Global Mining & Resources fund offers daily liquidity and mirrors the strategy of the established Cayman Island-domiciled fund of the same name, established in 2007.

It will be a long/short equity strategy focussed on equity investments in larger capitalisation companies in the natural resource sector……………………………………..Full Article: Source

Australian exchange enters commodities fray

Posted on 30 March 2011 by VRS  |  Email |Print

A new Australian energy-and-commodities exchange is the latest player hoping to lure trade away from venues in Chicago and London toward fast-growing Asian-Pacific economies.

But Financial & Energy Exchange’s bet that Australia’s resource bonanza will buoy its newest commodities exchange when it goes live this year is unlikely to change the landscape of energy trading globally……………………………………..Full Article: Source

Sri Lanka to set up a Commodities Exchange

Posted on 29 March 2011 by VRS  |  Email |Print

Sri Lanka’s Securities and Exchange Commission (SEC) on Sunday called for international expressions of interest (EOI) on Commodities Exchanges in newspaper advertisements.
The advertisement said that SEC is calling EOIs to establish and operate a fully fledged, multi-asset class Commodities Exchange. It also said that prospective parties should possess a track record of more than five years in establishing and operating such exchanges. They should also have at least US$ 100 million in shareholders funds/net assets and local parties may submit an EOI with a foreign party…………………………………….Full Article: Source

Hong Kong Exchanges may introduce commodity products, says Li

Posted on 25 March 2011 by VRS  |  Email |Print

Hong Kong Exchanges & Clearing Ltd. may introduce products based on the raw materials that China consumes the most, said Chief Executive Officer Charles Li.
“We’re talking about providing solutions for people that use commodities,” said Li in a speech today to the Hong Kong Investment Funds Association. “China needs to develop those capabilities. It needs to have those pricing inflows in the global scheme in all the major areas where China is a big consumer.”………………………………………Full Article: Source

Shanghai lead futures to be launched on March 24

Posted on 21 March 2011 by VRS  |  Email |Print

The Shanghai Futures Exchange (SHFE) will launch lead futures for hedging by smelters on March 24. The contract period for the futures will range from September 2011 to March 2012, with the deposit for each contract set at 11 percent of its value, the SHFE said.
The daily movement limit is set at 6 percent and each lot size is 25 tonnes. The higher lot size (five times that of existing copper, aluminium and zinc contracts is expected to keep small investors from speculating, analysts said……………………………………….Full Article: Source

ACE to offer 2 more products for trading

Posted on 14 March 2011 by VRS  |  Email |Print

From Indiatimes.com: The Kotak group-promoted Ace Derivatives & Commodity Exchange plans to widen the basket of farm commodities it offers for trading. A top official said two new products could be shortly chosen from a list that includes guar seed, guar gum, cotton, crude palm oil and refined palmolein.
“We will approach Forward Markets Commission (FMC) within a week or so to seek their approval for launching the new products ,” said Dilip Bhatia, CEO of ACE……………………………………….Full Article: Source

India funds plan silver ETFs

Posted on 09 March 2011 by VRS  |  Email |Print

From WSJ: After a brisk pick-up in gold exchange-traded funds, or ETFs, several Indian mutual fund houses are planning to launch silver ETFs as soon as regulatory authorities give them clearance.
Indians typically buy gold and silver jewelry with their savings, but with prices rising to new highs almost every month, demand for jewelry is fast being replaced by growing interest in investment products such as gold ETFs……………………………………….Full Article: Source

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