ITG's Peer Universe features a transaction database of nearly 11.12 million trades ($1.36 trillion) compiled solely from aggregated trade data from ITG's Transaction Cost Peer Universe. The data are sourced directly from buy-side institutions and may include some soft dollar, CSA and other payments over and above execution-only commissions. The information presented herein is based upon the “placement” time stamp recorded in clients' order management systems and encompasses four quarters of global equity trading data for the period ended Sept. 30. Positive change in trade costs denotes an increase in cost, and positive change in trade flows denotes an increase in flows. Trading costs and trade flows are calculated for theoretical portfolios using MSCI indexes as the basis for constructing these portfolios. Certain index data here are the property of MSCI. Without prior written permission of MSCI, this information and any other MSCI intellectual property may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used to create any financial instruments or products or any indexes. This information is provided on an "as is" basis, and the user of this information assumes the entire risk of any use made of this information. Neither MSCI nor any third party involved in or related to the computing or compiling of the data makes any express or implied warranties, representations or guarantees concerning the MSCI index-related data, and in no event will MSCI or any third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any use of this information.
Trading costs: Developed markets
Regional indexes
YOY % change
1Q 2010 trading cost (bps)
MSCI Far East
-9.30%
-36
MSCI Pacific
-12.70%
-34
MSCI North America
-13.60%
-29
MSCI World
-13.90%
-29
MSCI EAFE
-14.80%
-28
MSCI Europe
-15.40%
-25
MSCI EMU
-18.50%
-25
Country indexes
MSCI DK (Denmark)
109.10%
-24
MSCI BE (Belgium)
65.90%
-41
MSCI PT (Portugal)
14.20%
-53
MSCI FI (Finland)
4.90%
-34
MSCI GR (Greece)
3.70%
-40
MSCI NO (Norway)
-35.90%
-28
MSCI HK (Hong Kong)
-36.90%
-26
MSCI SE (Sweden)
-57.20%
-20
MSCI AT (Austria)
-77.00%
-16
MSCI ES (Spain)
-89.60%
-3
Sectors
Telecommunication services
12.10%
-29
Information technology
-1.30%
-29
Consumer non-cyclical
-8.20%
-28
Consumer cyclical
-13.00%
-33
Resources
-13.50%
-26
Health
-14.50%
-28
Financials
-15.30%
-28
Industrials
-22.60%
-28
Basic materials
-22.80%
-30
Utilities
-29.70%
-25
Emerging markets
Regional indexes
YOY % change
1Q 2010 trading cost (bps)
MSCI Eastern Europe
-5.00%
-52
MSCI Emerging Market
-6.00%
-47
MSCI EM Asia
-10.00%
-45
MSCI BRIC
-18.00%
-43
MSCI EM Latin America
-20.00%
-46
MSCI EM Europe
-24.00%
-60
MSCI Europe Mid East
-24.00%
-60
MSCI EMFE
-45.00%
-45
Country indexes
MSCI TH (Thailand)
35.00%
-55
MSCI MY (Malaysia)
34.00%
-48
MSCI TW (Taiwan)
15.00%
-52
MSCI ID (Indonesia)
1.00%
-64
MSCI KR (Korea)
-9.00%
-47
MSCI BR (Brazil)
-16.00%
-51
MSCI CN (China)
-21.00%
-39
MSCI ZA (South Africa)
-29.00%
-52
MSCI MX (Mexico)
-40.00%
-29
MSCI PL (Poland)
-41.00%
-54
Sectors
Utilities
19.00%
-52
Information technology
11.00%
-46
Industrials
5.00%
-62
Resources
4.00%
-45
Consumer non-cyclical
-8.00%
-58
Basic materials
-10.00%
-50
Consumer cyclical
-15.00%
-63
Health
-27.00%
-51
Financials
-32.00%
-39
Telecommunication services
-41.00%
-30
Trade flows: Developed markets
Regional indexes
YOY % change
MSCI Far East
2.50%
MSCI Pacific
2.00%
MSCI N America
1.70%
MSCI World
0.50%
MSCI EAFE
-1.80%
MSCI Europe
-3.20%
MSCI EMU
-4.70%
Country indexes
MSCI IT (Italy)
30.50%
MSCI ES (Spain)
10.20%
MSCI CH (China)
10.10%
MSCI DK (Denmark)
10.00%
MSCI AT (Austria)
7.80%
MSCI NL (Netherlands)
-9.10%
MSCI SE (Sweden)
-14.10%
MSCI IE (Ireland)
-14.60%
MSCI NO (Norway)
-21.10%
MSCI FI (Finland)
-25.40%
Sectors
Financials
15.70%
Industrials
3.90%
Information technology
0.70%
Health
-2.20%
Basic materials
-3.20%
Consumer cyclical
-4.90%
Resources
-6.70%
Consumer non-cyclical
-7.50%
Utilities
-9.30%
Telecommunication services
-17.50%
Emerging markets
Regional indexes
YOY % change
MSCI EMFE
29.90%
MSCI EM Europe
14.20%
MSCI Europe Mid East
14.20%
MSCI BRIC
4.20%
MSCI Eastern Europe
-0.70%
MSCI EM Asia
-1.30%
MSCI EM Latin America
-2.20%
MSCI Emerging Market
-3.70%
Country indexes
MSCI PL (Poland)
97.30%
MSCI TH (Thailand)
28.10%
MSCI IN (India)
20.80%
MSCI MY (Malaysia)
9.10%
MSCI BR (Brazil)
5.50%
MSCI KR (Korea)
-0.90%
MSCI ZA (South Africa)
-4.80%
MSCI ID (Indonesia)
-5.90%
MSCI TW (Taiwan)
-16.70%
MSCI MX (Mexico)
-26.40%
Sectors
Utilities
23.70%
Consumer cyclical
20.20%
Consumer non-cyclical
7.50%
Information technology
7.00%
Health
1.40%
Financials
0.90%
Industrials
0.80%
Basic materials
0.00%
Telecommunication services
-16.30%
Resources
-25.50%
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