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The value of listed exchanges rose by 27 per cent in May 2009, building on the previous two months’ rallies and again demonstrating further evidence of confidence returning to the industry.
Closing at 22187.70 on 29 May 2009, the Mondo Visione Exchanges Index, which aims to reflect market sentiment and is a key indicator of exchanges performance, has climbed back to a level not seen since early October 2008. Year to date, the index has increased by 40.6 per cent.
Last month, 17 of the 18 listed exchanges on the Mondo Visione Exchanges Index saw their values raised.
Herbie Skeete, Managing Director, Mondo Visione and also Co-founder of the Index said:
"Shares of listed exchanges are up across the board from their lows of 2008. Derivatives markets are leading the pack, in-part on hopes that the US and European regulators plan to regulate over-the-counter derivatives, which could help exchanges and hurt the dealers who have fought hard to keep their opaque market private.
These changes in regulation should help fuel growth for exchange operators, particularly those who have the capacity to provide clearing services.
But there is one potential problem looming for the integrated exchanges and the derivative exchanges in particular, and this is the threat by regulators to force separation of clearing from trading. At the moment the threat is a small cloud on the horizon – it may blow away or it may turn into a serious storm."
The FTSE Mondo Visione Exchanges Index best performer by capital returns in US dollars was CME Group with a 45.3 per cent increase in share price from 30 April 2009 to 29 May 2009.
The FTSE Mondo Visione Exchanges Index worst performer by capital returns in US dollars was Johannesburg Stock Exchange a 0.2 per cent decrease in share price from 30 April 2009 to 29 May 2009.
