BSE launches Greenex, India's first energy efficient index

Today, Asia's oldest exchange, Bombay Stock Exchange launched India's first carbon efficient index to measure the performance of companies in terms of carbon emissions, aiming to provide a benchmark for socially aware investors.  

This index will enable investors take more timely and informed investment decisions about companies in the energy intensive sectors. 

The BSE-GREENEX index will have 20 companies selected from the BSE-100 index, and it will gives equal weight-age to both energy efficiency and profitability.  It should help institutional and retail investors to evaluate a particular stock on the basis of the amount of money these firms save by being energy efficient.

This 20-share BSE-GREENEX includes some of India's leading companies such as Tata Motors , Tata Steel , ICICI Bank , Larsen & Toubro , Housing Development Finance Company , Reliance Infrastructure , Dr Reddy's Laboratories and DLF .

This is the second theme based index launched by BSE after the Shariah index.

The index can be used to develop green financial products including mutual funds, exchange-traded funds and structured products, the BSE said.

Vietnam stock exchange delays extension of trading hours till further notice

The original plan of trading hour extension to afternoon for HoChiMinh Stock Exchange (HOSE) which is expected to take effect on February 20, 2012 (Monday) is delayed for one or few more weeks. According to sources, the extension of trading hours in the afternoon session will likely to begin on March 5, 2012 (Monday).
 
According to the chairman of  State Securities Commission, they are still waiting for final approval.
Chairman Bang said although all the technical issues related to the extension had been addressed but the concern of the liquidity in the market is still low and the increase of trading volumes may not meet the expectation at this moment.

Once approved, the morning sessions will open at 9:00AM (GMT+7) instead of 8:30 AM (currently) to 11:30AM (GMT+7) and close for lunch break from 11:30AM (GMT +7) to 1:00PM (GMT+7). 

The afternoon sessions will open at 1:00PM (GMT+7) and close at 2:30 PM (GMT+7) including continuous order-matching (1:00PM to 2:00PM), closing order-matching (2:00PM to 2:15PM) and negotiated transactions (1:00PM to 2:30PM). 

The total trading time of two hours and a half in the morning for opening order-matching, continuous order-matching and put-through transactions will remains unchanged. 

The reason to extend the trading hours so as to be in line with the regional standard practices as are in China, India, Indonesia, Taiwan, Philippines, New Zealand, etc. With this in view, it is expected to make continuous order-matching in afternoon sessions longer in attempt to strengthen market liquidity.

Also, the plan suggests no newly-placed orders, amendment and cancellation of matched orders as well as put-through advertising and settlement during the midday trading break. 

Additional regulations will also be imposed namely all-day trading price band, determination of reference price, order cancellation and amendment.

Hong Kong Bourse to Offer Volatility Index Futures

Hong Kong Exchanges & Clearing Ltd. will begin offering futures tracking the HSI Volatility Index (VHSI) of options prices today.

Futures (VHSH2) on the benchmark, which tracks expected equity- market volatility over the next 30 days, are the first of their kind based on an Asian market, according to Calvin Tai, head of trading at the Hong Kong exchange.

The Osaka Securities Exchange Co. will begin offering futures on Japan's Nikkei Stock Average Volatility Index (VNKY) on Feb. 27, according to the bourse.

Volatility index futures have been trading in the U.S. since 2004 and Europe since 2005. The products were created as alternatives to so-called variance swaps, derivatives in which investors take a position on how much a stock or index will move with a bank or dealer instead of via a public exchange...


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