People pass stock index tickers at the Singapore Exchange (SGX) premises October 17, 2013. Singapore Exchange Ltd posted a 24 percent rise in first-quarter net profit, beating analysts' forecasts, as broad-based growth across its units including the bourse's derivatives business lifted earnings. REUTERS/Edgar Su (SINGAPORE - Tags: BUSINESS) 

A Singapore Exchange (SGX) signage is pictured at their premises in Singapore April 19, 2013. Singapore Exchange Ltd (SGX) posted a 24 percent rise in first-quarter net profit, beating analysts' forecasts, as broad-based growth across its units including the bourse's derivatives business lifted earnings. Picture taken April 19, 2013. REUTERS/Edgar Su (SINGAPORE - Tags: BUSINESS LOGO) 

A man passes a Singapore Exchange (SGX) signage outside their premises in Singapore April 19, 2013. Singapore Exchange Ltd posted a 24 percent rise in first-quarter net profit, beating analysts' forecasts, as broad-based growth across its units including the bourse's derivatives business lifted earnings. Picture taken April 19, 2013. REUTERS/Edgar Su (SINGAPORE - Tags: BUSINESS LOGO) 

People pass stock index tickers at the Singapore Exchange (SGX) premises October 17, 2013. Singapore Exchange Ltd posted a 24 percent rise in first-quarter net profit, beating analysts' forecasts, as broad-based growth across its units including the bourse's derivatives business lifted earnings. REUTERS/Edgar Su (SINGAPORE - Tags: BUSINESS) 

A woman passes stock index tickers at the Singapore Exchange (SGX) premises in Singapore October 17, 2013. Singapore Exchange Ltd posted a 24 percent rise in first-quarter net profit, beating analysts' forecasts, as broad-based growth across its units including the bourse's derivatives business lifted earnings. REUTERS/Edgar Su (SINGAPORE - Tags: BUSINESS) 

Singapore Exchange (SGX)'s Chief Executive Officer Magnus Bocker (R) smiles as he passes stock index tickers at their premises in Singapore October 17, 2013. Singapore Exchange Ltd posted a 24 percent rise in first-quarter net profit, beating analysts' forecasts, as broad-based growth across its units including the bourse's derivatives business lifted earnings. REUTERS/Edgar Su (SINGAPORE - Tags: BUSINESS) 

A Singapore Exchange (SGX) signage is pictured at their premises in Singapore October 17, 2013. Singapore Exchange Ltd posted a 24 percent rise in first-quarter net profit, beating analysts' forecasts, as broad-based growth across its units including the bourse's derivatives business lifted earnings. REUTERS/Edgar Su (SINGAPORE - Tags: BUSINESS) 

A Singapore Exchange (SGX) signage is pictured at their premises in Singapore October 17, 2013. Singapore Exchange Ltd posted a 24 percent rise in first-quarter net profit, beating analysts' forecasts, as broad-based growth across its units including the bourse's derivatives business lifted earnings. REUTERS/Edgar Su (SINGAPORE - Tags: BUSINESS) 

A Singapore Exchange (SGX) signage is pictured at their premises in Singapore October 17, 2013. Singapore Exchange Ltd posted a 24 percent rise in first-quarter net profit, beating analysts' forecasts, as broad-based growth across its units including the bourse's derivatives business lifted earnings. REUTERS/Edgar Su (SINGAPORE - Tags: BUSINESS) 

Specialist traders work at the booth that trades the stock for IntercontinentalExchange, on the floor at the New York Stock Exchange, May 1, 2013. IntercontinentalExchange Inc., which is buying NYSE Euronext for $8.2 billion, reported an 8 percent drop in first-quarter profit, citing acquisition costs and lower North American natural gas trading volumes. The Atlanta-based derivatives exchange and clearinghouse operator said on Wednesday that net income fell to $135.4 million, or $1.85 a share, from $147.9 million, or $2.02 a share, a year earlier. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) 

Turkey's Prime Minister Tayyip Erdogan speaks during the opening ceremony of Bourse Istanbul in Istanbul April 5, 2013. The newly-founded Bourse Istanbul combines the Istanbul Stock Exchange with the local gold and derivatives exchanges as part of plans to make Turkey's largest city a regional financial centre. REUTERS/Murad Sezer (TURKEY - Tags: BUSINESS POLITICS) 

Turkey's Prime Minister Tayyip Erdogan speaks during the opening ceremony of Bourse Istanbul in Istanbul April 5, 2013. The newly-founded Bourse Istanbul combines the Istanbul Stock Exchange with the local gold and derivatives exchanges as part of plans to make Turkey's largest city a regional financial centre. REUTERS/Murad Sezer (TURKEY - Tags: BUSINESS POLITICS) 

Turkey's Prime Minister Tayyip Erdogan (C) speaks before ringing the opening bell with Deputy Prime Minister Ali Babacan (2nd L), Chairman of Bourse Istanbul Ibrahim Turhan (2nd R), Turkey's European Union Minister Egemen Bagis (R) and Chairman of Capital Markets Board (SPK) Vahdettin Ertas (L) during the opening
ceremony of Bourse Istanbul in Istanbul April 5, 2013. The newly-founded Bourse Istanbul combines the Istanbul Stock Exchange with the local gold and derivatives exchanges as part of plans to make Turkey's largest city a regional financial centre. REUTERS/Murad Sezer (TURKEY - Tags: BUSINESS POLITICS) 

Turkey's Prime Minister Tayyip Erdogan (3rd L) rings the opening bell with Deputy Prime Minister Ali Babacan (2nd L), Chairman of Bourse Istanbul Ibrahim Turhan (2nd R), Turkey's European Union Minister Egemen Bagis (R) and Chairman of Capital Markets Board (SPK) Vahdettin Ertas (L) during the opening ceremony of Bourse Istanbul in Istanbul April 5, 2013. The newly-founded Bourse Istanbul combines the Istanbul Stock Exchange with the local gold and derivatives exchanges as part of plans to make Turkey's largest city a regional financial centre. REUTERS/Murad Sezer (TURKEY - Tags: BUSINESS POLITICS) 

A man passes by the office of the Moscow Exchange January 21, 2013. The Moscow Exchange, Russia's main venue for trading in stocks, bonds, foreign exchange and derivatives, on Monday announced its intention to float on its own platform through the sale of stock expected to be worth at least $500 million. The Moscow Exchange was formed in 2011 following the merger of Moscow's two largest stock exchanges, MICEX and the RTS with a view to a float this year. REUTERS/Sergei Karpukhin (RUSSIA - Tags: BUSINESS) 

Traders work on the floor of the New York Stock Exchange in New York December 20, 2012. IntercontinentalExchange agreed a $8 billion deal to buy New York Stock Exchange owner NYSE Euronext on Thursday, propelling the commodities player into the big league of European derivatives and helping it to take on arch rival CME Group. REUTERS/Andrew Kelly (UNITED STATES - Tags: BUSINESS) 

An exterior shot of the New York Stock Exchange in New York December 20, 2012. IntercontinentalExchange agreed a $8 billion deal to buy New York Stock Exchange owner NYSE Euronext on Thursday, propelling the commodities player into the big league of European derivatives and helping it to take on arch rival CME Group. REUTERS/Andrew Kelly (UNITED STATES - Tags: BUSINESS) 

Traders work the floor at the New York Stock Exchange in New York December 20, 2012. IntercontinentalExchange agreed a $8 billion deal to buy New York Stock Exchange owner NYSE Euronext on Thursday, propelling the commodities player into the big league of European derivatives and helping it to take on arch rival CME Group. REUTERS/Andrew Kelly (UNITED STATES - Tags: BUSINESS) 

Traders work the floor at the New York Stock Exchange in New York December 20, 2012. IntercontinentalExchange agreed a $8 billion deal to buy New York Stock Exchange owner NYSE Euronext on Thursday, propelling the commodities player into the big league of European derivatives and helping it to take on arch rival CME Group. REUTERS/Andrew Kelly (UNITED STATES - Tags: BUSINESS) 

Traders work the floor at the New York Stock Exchange in New York December 20, 2012. IntercontinentalExchange agreed a $8 billion deal to buy New York Stock Exchange owner NYSE Euronext on Thursday, propelling the commodities player into the big league of European derivatives and helping it to take on arch rival CME Group. REUTERS/Andrew Kelly (UNITED STATES - Tags: BUSINESS) 

Traders work the floor at the New York Stock Exchange in New York December 20, 2012. IntercontinentalExchange agreed a $8 billion deal to buy New York Stock Exchange owner NYSE Euronext on Thursday, propelling the commodities player into the big league of European derivatives and helping it to take on arch rival CME Group. REUTERS/Andrew Kelly (UNITED STATES - Tags: BUSINESS) 

Traders work the floor at the New York Stock Exchange in New York December 20, 2012. IntercontinentalExchange agreed a $8 billion deal to buy New York Stock Exchange owner NYSE Euronext on Thursday, propelling the commodities player into the big league of European derivatives and helping it to take on arch rival CME Group. REUTERS/Andrew Kelly (UNITED STATES - Tags: BUSINESS) 

Chairman of the Istanbul Stock Exchange Ibrahim Turhan gestures during an interview with Reuters in Istanbul November 22, 2012. Turkey's Istanbul Stock Exchange will merge with the Gold and Derivatives exchanges within the coming month and decide on future strategic partners by mid-2013, Turhan told Reuters on Thursday. REUTERS/Osman Orsal (TURKEY - Tags: BUSINESS) 

Chairman of the Istanbul Stock Exchange Ibrahim Turhan gestures during an interview with Reuters in Istanbul November 22, 2012. Turkey's Istanbul Stock Exchange will merge with the Gold and Derivatives exchanges within the coming month and decide on future strategic partners by mid-2013, Turhan told Reuters on Thursday. REUTERS/Osman Orsal (TURKEY - Tags: BUSINESS) 

A security guard stands next to an artwork made with apples outside a market during the Apple Festival in Almaty September 18, 2011. The name Almaty derives from the Kazakh word "alma", which means "apple", and the city's name is often translated as "full of apples". REUTERS/Shamil Zhumatov (KAZAKHSTAN - Tags: ANNIVERSARY SOCIETY TPX IMAGES OF THE DAY) 

A person reaches out as bags of coffee and glasses of honey are displayed in Cuetzalan August 17, 2011. For generations, indigenous coffee farmers in the lush mountains east of Mexico's capital sold their beans to middlemen without understanding the workings of the international coffee market. But now some of those same farmers, tired of falling victim to wild price swings for the commodities they produce, have educated themselves about the complexities of derivatives trading to hedge their risk in New York. Picture taken August 17, 2011. To match feature MEXICO-DERIVATIVES/ REUTERS/Imelda Medina (MEXICO - Tags: BUSINESS AGRICULTURE) 

A worker checks on coffee plants at a farm in Cuetzalan August 17, 2011. For generations, indigenous coffee farmers in the lush mountains east of Mexico's capital sold their beans to middlemen without understanding the workings of the international coffee market. But now some of those same farmers, tired of falling victim to wild price swings for the commodities they produce, have educated themselves about the complexities of derivatives trading to hedge their risk in New York. Picture taken August 17, 2011. To match feature MEXICO-DERIVATIVES/ REUTERS/Imelda Medina (MEXICO - Tags: BUSINESS AGRICULTURE) 

Panellists Thomson Reuters market analyst for commodities Wang Tao, CIMB Futures' Loh Kin Kien, Dow Jones Newswires' Managing Director for Commodities Denny Kurien, CME Group's Managing Director for Commodities Timothy Andriesen and dialogue session chair Bursa Malaysia Derivatives' CEO K.S. Chong (L-R) sit at a plenary session entitled "Financial Focus, Pricing of the Edible Oils Markets (From Financial Users Perspective)" during Bursa Malaysia's annual Palm and Lauric Oils Conference & Exhibition Price Outlook in Kuala Lumpur March 8, 2011. REUTERS/Bazuki Muhammad (MALAYSIA - Tags: BUSINESS MEDIA) 

Daniel Tarullo, member of the Federal Reserve Board of Governors, testifies in a hearing before the House Financial Services Committee on "Assessing the Regulatory, Economic and Market Implication of the Dodd-Frank Derivatives Title," on Capitol Hill in Washington February 15, 2011. REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS POLITICS) 

Daniel Tarullo, member of the Federal Reserve Board of Governors, testifies in a hearing before the House Financial Services Committee on "Assessing the Regulatory, Economic and Market Implication of the Dodd-Frank Derivatives Title," on Capitol Hill in Washington February 15, 2011. REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS POLITICS) 

Daniel Tarullo, member of the Federal Reserve Board of Governors testifies next to Commodity Futures Trading Commission Chairman Gary Gensler (C) and Securities and Exchange Commission Chairman Mary Schapiro (L) during a hearing before the House Financial Services Committee on "Assessing the Regulatory, Economic and Market Implication of the Dodd-Frank Derivatives Title," on Capitol Hill in Washington February 15, 2011. REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS POLITICS) 

Commodity Futures Trading Commission Chairman Gary Gensler (L) testifies as Daniel Tarullo, member of the Federal Reserve Board of Governors listens during a hearing before the House Financial Services Committee on "Assessing the Regulatory, Economic and Market Implication of the Dodd-Frank Derivatives Title," on Capitol Hill in Washington February 15, 2011. REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS POLITICS) 

Securities and Exchange Commission Chairman Mary Schapiro testifies during a hearing before the House Financial Services Committee on "Assessing the Regulatory, Economic and Market Implication of the Dodd-Frank Derivatives Title," on Capitol Hill in Washington February 15, 2011. REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS POLITICS) 

Securities and Exchange Commission Chairman Mary Schapiro testifies during a hearing before the House Financial Services Committee on "Assessing the Regulatory, Economic and Market Implication of the Dodd-Frank Derivatives Title," on Capitol Hill in Washington February 15, 2011. REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS POLITICS) 

Commodity Futures Trading Commission Chairman Gary Gensler (L) and Daniel Tarullo, member of the Federal Reserve Board of Governors chat before testifying at a hearing before the House Financial Services Committee on "Assessing the Regulatory, Economic and Market Implication of the Dodd-Frank Derivatives Title," on Capitol Hill in Washington February 15, 2011. REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS POLITICS) 

Commodity Futures Trading Commission Chairman Gary Gensler (C) testifies next to Securities and Exchange Commission Chairman Mary Schapiro (L) and Daniel Tarullo, member of the Federal Reserve Board of Governors during a hearing before the House Financial Services Committee on "Assessing the Regulatory, Economic and Market Implication of the Dodd-Frank Derivatives Title," on Capitol Hill in Washington February 15, 2011. REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS POLITICS) 

Commodity Futures Trading Commission Chairman Gary Gensler (L) testifies next to Daniel Tarullo, member of the Federal Reserve Board of Governors during a hearing before the House Financial Services Committee on "Assessing the Regulatory, Economic and Market Implication of the Dodd-Frank Derivatives Title," on Capitol Hill in Washington February 15, 2011. REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS POLITICS) 

Daniel Tarullo, member of the Federal Reserve Board of Governors, testifies in a hearing before the House Financial Services Committee on "Assessing the Regulatory, Economic and Market Implication of the Dodd-Frank Derivatives Title," on Capitol Hill in Washington February 15, 2011. REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS POLITICS) 

Commodity Futures Trading Commission Chairman Gary Gensler testifies during a hearing before the House Financial Services Committee on "Assessing the Regulatory, Economic and Market Implication of the Dodd-Frank Derivatives Title," on Capitol Hill in Washington February 15, 2011. REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS POLITICS) 

Securities and Exchange Commission Chairman Mary Schapiro (L), Commodity Futures Trading Commission Chairman Gary Gensler (C) and Daniel Tarullo, member of the Federal Reserve Board of Governors wait to testify in a hearing before the House Financial Services Committee on "Assessing the Regulatory, Economic and Market Implication of the Dodd-Frank Derivatives Title," on Capitol Hill in Washington February 15, 2011. REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS POLITICS) 

The Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler speaks during an interview with Reuters in Washington October 29, 2010. The CFTC, charged with taking oversight of the $615 trillion over-the-counter derivatives market, needs to boost its ranks by 400 people to do its job efficiently, said Gensler on Friday. That would represent nearly a 60 percent increase. To match Reuters Interview FINANCIAL-REGULATION/GENSLER REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS EMPLOYMENT) 

The Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler speaks during an interview with Reuters in Washington October 29, 2010. The CFTC, charged with taking oversight of the $615 trillion over-the-counter derivatives market, needs to boost its ranks by 400 people to do its job efficiently, said Gensler on Friday. That would represent nearly a 60 percent increase. To match Reuters Interview FINANCIAL-REGULATION/GENSLER REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS EMPLOYMENT) 

The Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler speaks during an interview with Reuters in Washington October 29, 2010. The CFTC, charged with taking oversight of the $615 trillion over-the-counter derivatives market, needs to boost its ranks by 400 people to do its job efficiently, said Gensler on Friday. That would represent nearly a 60 percent increase. To match Reuters Interview FINANCIAL-REGULATION/GENSLER REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS EMPLOYMENT) 

The Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler speaks during an interview with Reuters in Washington October 29, 2010. The CFTC, charged with taking oversight of the $615 trillion over-the-counter derivatives market, needs to boost its ranks by 400 people to do its job efficiently, said Gensler on Friday. That would represent nearly a 60 percent increase. To match Reuters Interview FINANCIAL-REGULATION/GENSLER REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS EMPLOYMENT) 

The Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler speaks during an interview with Reuters in Washington October 29, 2010. The CFTC, charged with taking oversight of the $615 trillion over-the-counter derivatives market, needs to boost its ranks by 400 people to do its job efficiently, said Gensler on Friday. That would represent nearly a 60 percent increase. To match Reuters Interview FINANCIAL-REGULATION/GENSLER REUTERS/Molly Riley (UNITED STATES - Tags: BUSINESS EMPLOYMENT) 

A worker places a new pair of shoes on the conveyor belt during a shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 5, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 5, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

A worker puts glue on a shoe during a shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 5, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 5, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

Workers make a shoe during a shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 4, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 5, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

A worker makes a shoe during a shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 5, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 5, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

A worker makes a pair of shoes during a shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 5, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 5, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

A worker sews a shoe during a shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 5, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 5, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

A worker places a sole on a shoe during a shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 5, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 5, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

Shoe moulds are seen during a shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 5, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 5, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

Workers colourise leather which will be used to make shoes at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 4, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 4, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

A worker makes leather shoes during a shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 4, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 4, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

A worker makes shoes during a shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 4, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 4, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

Workers are seen during the shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 4, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 4, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

A worker makes soles during a shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 4, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 4, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

Brazilian workers select dyed leather which will be used as leather to make shoes at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 4, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 4, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT) 

CEO of Alpha Group Jos Schmitt poses for a portrait in Toronto October 20, 2009. Upstart rivals are set to take a still bigger bite out of TMX Group Inc's share of the Canadian stock trading market in coming months as competition heats up over pricing, product and technology. Dominant exchange operator TMX, which runs the Toronto Stock Exchange, the small-cap TSX Venture Exchange and Montreal derivatives market, had market share of 84 percent in the third quarter, down from around 98 percent a year earlier. Picture taken October 20, 2009. REUTERS/Mark Blinch (CANADA BUSINESS)