"Allowing qualified financial institutions not supervised by the BSP to participate in structures involving bank issues will broaden investors' access to the domestic capital market by expanding the universe of securities
trading participants and providing both investors and issuers with greater options," the BSP said in the statement.
Such a broad universe of securities
also increases the dispersion of returns between investments.
"We are pleased that, two months after launch, Chi-East is now matching trades for a wide universe of securities
listed in Hong Kong, Japan and Singapore," said Ned Phillips, CEO of Chi-East.
Russell Investments and Parametric Portfolio Associates have collaborated on a new index series that measures the return dispersion of a universe of securities
. The Russell-Parametric Cross-Sectional Volatility Indexes (CrossVol) (http://www.plansponsor.com/Russell_and_Parametric_Team_up_on_Index_Series.aspx) relies on Russell's global index construction rules and a new calculation methodology developed by Parametric, according to a press release.
Facing lower profits and stiffer competition from securities firms, banks began seeking approval from regulators to engage in a greater universe of securities