Americas ETP News
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RiverPark Advisors files with the SEC
September 30, 2011--RiverPark Advisors, LLC has filed a fifth amended and restated application for exemptive relief with the SEC for actively-managed ETFs.
view filing
Source: SEC.gov
CFTC.gov Commitments of Traders Reports Update
September 30, 2011--The current reports for the week of September 27, 2011 are now available.
view updates
Source: CFTC.gov
New York Fed releases tentative outright Tr
September 30, 2011--Tentative Outright Treasury Operation Schedule
cross all operations in the schedule listed, the Desk plans to purchase approximately $44 billion and sell approximately $44 billion in Treasury securities over the month of October.
view current schedule
Source: New York Fed
SEC Staff Issues Summary Report of Commission Staff's Examinations of Each Nationally Recognized Statistical Rating Organization
September 30, 2011-- The staff of the Securities and Exchange Commission today issued a report summarizing the staff's observations and concerns arising from the examinations of ten credit rating agencies registered with the SEC as Nationally Recognized Statistical Rating Organizations ("NRSROs") and subject to Commission oversight.
The report notes that despite changes by some of the examined credit rating agencies to improve their operations, Commission staff identified concerns at each of the NRSROs. These concerns included apparent failures in some instances to follow ratings methodologies and procedures, to make timely and accurate disclosures, to establish effective internal control structures for the rating process and to adequately manage conflicts of interest. The report notes that the staff made various recommendations to the NRSROs to address the staff’s concerns and that in some cases the NRSROs have already taken steps to address such concerns.
“This report demonstrates the SEC’s enhanced oversight of credit rating agencies,” said Carlo V. di Florio, Director of the SEC’s Office of Compliance Inspections and Examinations (OCIE). “We have recruited experts and strengthened the overall monitoring and examination process to better protect investors, ensure market integrity, and facilitate capital formation.”
view the 2011 Summary Report of Commission Staff's Examinations of Each Nationally Recognized Statistical Rating Organization
Source: SEC.gov
CFTC Requests Public Comment on an Application by Eurex Clearing AG for Registration as a Derivatives Clearing Organization
September 29, 2011--The Commodity Futures Trading Commission (CFTC) is asking for public comment on an application by Eurex Clearing AG for registration as a derivatives clearing organization.
Commission staff intends to complete its review of the application on or before March 31, 2012.
Comments should be submitted on or before October 31, 2011.
Comments may be submitted electronically through the CFTC’s Comments Online process. The application documents and all comments received are available on the CFTC’s website.
Source: CFTC.gov
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
September 29, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Friday, September 30, 2011:
U.S. Silver Corporation. (TSXVN:USA) will be removed from the index as well as the S&P/TSX Venture Select Index. The company will graduate to trade on TSX under the same ticker symbol.
Parex Resources Inc. (TSXVN:PXT) will be removed from the index. The company will graduate to trade on TSX under the same ticker symbol.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poor's
United States Commodity Funds files with the SEC
September 29, 2011--United States Commodity Funds has filed a Form S-1 registration statement with the SEC for the United States Natural Gas Double Inverse Fund.
view filing
Source: SEC.gov
Global X files with the SEC
September 29, 2011--Global X has filed a third amended and restated application for exemptive relief with the SEC.
view filing
Source: SEC.gov
Direct Edge to introduce Market Making program, pending SEC approval
September 29, 2011--Overview:
Direct Edge will introduce a Market Making program on both EDGA and EDGX Exchanges, pending Securities and Exchange Commission (SEC) approval.
How to Register:
Follow the steps below to become an Exchange Market Maker on EDGA and/or EDGX:
Complete and submit the EDGA Exchange, Inc. and EDGX Exchange, Inc. Market Maker Registration Application to Direct Edge Member Services.
Complete and submit your most recent FOCUS report, and most recent annual audited financial statements to Direct Edge Member Services.
Update FINRA’s Web CRD® for registration of at least one Market Maker Authorized Trader (MMAT). Maintain a current list of MMATs who are permitted to enter orders on behalf of the Applicant and provide
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Source: New Edge
Van Eck Global reduces expense cap for Market Vectors Brazil Small-Cap ETF
September 29, 2011--New York-based investment manager Van Eck Global announced that it is lowering the expense cap on its Market Vectors Brazil Small-Cap ETF (NYSE Arca: BRF), effective today. BRF’s expense cap is being reduced from 62 basis points (bps) to 59 bps. Van Eck expects that, as a result of this, investors in BRF will pay lower fees.
The Market Vectors Brazil Small-Cap ETF (BRF) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Brazil Small-Cap Index. The Index provides exposure to publicly traded small capitalization companies that are domiciled and primarily listed on an exchange in Brazil or that generate at least 50 percent of their revenues in Brazil. As of September 28, BRF had approximately $620 million in investor assets under management.
This marks the second time in the history of BRF that Van Eck has lowered the fund’s expense cap, and BRF is the third ETF in Van Eck’s Market Vectors family to have its expense cap reduced so far this year. In January, the firm announced that the expense cap for Market Vectors Indonesia Index ETF (IDX) was being reduced from 68 bps to 60 bps, and that the expense cap for Market Vectors Poland ETF (PLND) was being reduced from 65 bps to 60 bps.
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Source: Van Eck Global
