linkedFA, a social networking site for financial professionals, has aligned with Businesswire, a news distributor, to give linkedFA members direct access to news releases from Fortune 1,000 companies on demand.
The content agreement will enable linkedFA members to access Businesswire’s database of content on Fortune 1,000 companies directly via linkedFA, the companies announced. Additionally, linkedFA members will be able to share this information on other social networking sites, such as Twitter, LinkedIn, and Facebook, compliantly.
“We recently integrated Thompson Reuters’ premier content into our site and this agreement with Businesswire expands and strengthens the quality of content available to members via their linkedFA account. By aligning with Businesswire, our members have access to the latest financial news directly from one of the most trusted sources in press-release distribution. This content can be easily and compliantly shared between members and their colleagues, clients, and prospective clients,” said linkedFA’s Director of Business Development, Steve Prosser.
S&P Indices has launched the first in a series of
indices designed to measure the performance of the Mercado Integrado Latino Americano (MILA) Integrated
Market.
The S&P MILA
40 gauges the returns of the largest and most liquid stocks trading on
the MILA platform, an integrated
trading venture formed by the Chile, Colombia and Peru stock exchanges.
S&P MILA 40 is a rules-based index
that, according to the announcement, “aims to provide investors with an
easily replicable, yet representative benchmark of these three markets,
which represent the region’s most liquid and investable markets.” The
initial selection universe for the Index includes all stocks that are
domiciled in Chile, Colombia and Peru and trade on the MILA Stock Market
as domestic stocks. To be eligible, stocks must have a float-adjusted
market capitalization above US $100 million as of the rebalancing
reference date. All common, investable and preferred shares that are
equity and not of a fixed income nature are eligible for inclusion,
according to the announcement.
The Index uses a modified market
capitalization-weighted scheme, utilizing the divisor methodology that
is applied to all S&P equity indices. At rebalancing, constituent
weights are adjusted so that no country can have a weight of more than
50% in the index and no single stock weight can be larger than 8%.
S&P MILA 40 is rebalanced twice a year in March and September,
according to a press release.
MILA is a market that emerged from
the integration of trading platforms of Santiago Stock Exchange, Lima
Stock Exchange and Colombia Stock Exchange. Additionally, the
announcement notes that “for complete platform integration, and for
ensuring smooth cross border clearing and settlement}, there is
participation from the securities depositories – DCV from Chile, DECEVAL
from Colombia and CAVALI from Peru. MILA was launched on May 30th, 2011
with secondary equity trading through an intermediate routing
mechanism, and has plans to expand.
The agreement
between MILA and S&P Indices, formally announced today at a signing
ceremony in Santiago, Chile, will result in the development of
additional, broad-market and sector indices intended to capture the
performance of stocks offered in the three MILA countries.
"Equities
from the Andean nations have been among the best performing stocks in
all emerging markets," said Alka Banerjee, Vice President of Global
Equity Indices at S&P Indices. "The S&P MILA 40 has been
designed to provide local and international investors alike with a sound
benchmark by which to judge and follow their investments in this
important region of the world."
"This
new Index is of great relevance to us because it will become a
reference for MILA in the international markets," says Jose Antonio
Martinez, CIO Bolsa de Comercio de Santiago.
"The
launch of the S&P MILA 40 and our agreement with S&P Indices
will allow the three Stock Exchanges representing MILA to have a broader
international presence. The creation of this Index will highlight the
performance of the Peruvian stocks, as well as Bolsa de Valores de Lima,
and will attract international investments through potential structured
products linked to the S&P MILA 40 and other indices that will be
developed under this family," says Francis Stenning, General Manager
BVL.
As
of July 29, 2011, there are 22 companies from Chile, 12 from Colombia
and 6 from Peru in the S&P MILA 40. Materials has the largest sector
weighting in the Index at 25.4% followed by Financials at 25.2% and
Utilities at 11.2%. The top 5 companies by index weight in the S&P
MILA 40 are: Compania de Minas Buenaventura S.A.A. (Peru; 5.90%),
Ecopetrol SA (Colombia; 5.73%), SACI Falabella (Chile; 5.36%), Empresas
COPEC SA (Chile; 5.24%), and Pacific Rubiales Energy Corporation
(Colombia; 5.17%).