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In April the fund announced it would increase the share of equities in its portfolio from 40% to 60%.
At present the lion's share of equities traded in the region goes through Tokyo, Hong Kong, Shanghai and Singapore (see chart 3).
As the institutions' share of equities rises, so the option to sell declines and the case for raising a stink gets stronger.
Crossborder consolidation among banks has accelerated; the share of equities held in other euro area countries has doubled to 40%; and the single euro payments area (SEPA) is set to eliminate differences between national and crossborder retail payments.
Back in September of 1986, just before London's Big Bang [the deregulation of its financial markets], you will remember, many of the large houses expected the floor to continue to hold a dominant share of equities trading.
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Blame lies partly with the Asian crisis of 1997, which put a greater share of equity in foreign hands.
Stockholders' equity would be wiped out under the plan, and the company would be owned mainly by general unsecured creditors, who would receive a pro rata share of equity in the reorganized company.
Lions at bay Reprints Related items Malaysia: No breaksFeb 20th 2003Since 1990, however, the Malay share of equity has stagnated at around 20%, despite all manner of government incentives to raise it (see chart).
The share of equity trading controlled by the five leading banks (Goldman Sachs, Morgan Stanley, Credit Suisse, JPMorgan and Bank of America) has increased by about one percentage point each year for the past few years, reckons Matt Spick, an analyst at Deutsche Bank.
THE endgame is perhaps about to begin for Europe's stock exchanges, in their bid to secure an unassailable share of equity and derivatives trading in the European time-zone.
Under the agreement, IRT stockholders may exchange each of IRT's 35 million shares outstanding for $12.15 in cash or 0.9 share of Equity One common stock, worth $12.23, based on Monday's $13.59 closing price for Equity One stock.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com