The FTSE 100 index, which launched on 3 January 1984 with a base level of 1,000 and replaced the FT30 as the main indicator for the performance of companies listed on London Stock Exchange (LSE), still has 30 of its original members as constituents as it approaches its 30th anniversary.
According to the FTSE Group, which is wholly owned by the LSE, the current combined market capitalisation of the FTSE 100 constituents is £1.87 trillion (as at 30th December 2013). In December 1985, the first available data, the market capitalisation stood at £164bn.
Over the past 30 years, the highest end of day value reached by the FTSE 100 to date is 6950.60, on 30 December 1999. The largest annual rise was in 1997, when the index rose 24.69% over the course of the year. The most recent end of day low in the last five years was 3529.86, on 5 March 2009, while the largest annual fall was in 2008, when the index fell -31.33% over the course of the year.
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.