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BM&FBOVESPA Announces July 2011 Market Performance - Number Of ETF Trades Grows 25% From June
August 4, 2011--BOVESPA Segment
In July 2011, equity markets (BOVESPA segment) traded BRL 119.63 billion, in 11,016,993 trades, with daily averages of BRL 5.69 billion and 524,619 trades, in comparison to June when total volume reached BRL 124.19 billion, in 10,187,883 trades, with daily averages of BRL 5.91 billion and 485,137 trades.
Equities
The most traded stocks in July were: Vale PNA, with BRL 13.44 billion; Petrobras PN with BRL 8.18 billion; Itauunibanco PN, with BRL 5.63 billion, OGX Petróleo ON, with BRL 4.79 billion; and Bradesco PN, with BRL 4.05 billion.
ETFs
The financial volume registered in July by the eight BM&FBOVESPA Exchange-Traded Funds (ETFs) reached BRL 667.75 million in 31,997 trades, from 25,701 and BRL 598.43 million the previous month.
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Source: Mondovisione
BM&FBOVESPA opens bidding process to select Market Makers for Options on the Stock of BM&FBOVESPA and Usiminas and Options on the BOVESPA Index
Institutions have until September 26, 2011 to send in proposals
August 3, 2011-- BM&FBOVESPA announces the start of the selection process for up to three market makers for options on the stock of BM&FBOVESPA S.A (BVMF3) and Usinas Siderúrgicas de Minas Gerais S.A. – Usiminas (USIM5) and for options on the BOVESPA Index (IBOV). This is the second stage of the Bidding Program to select market makers in equity options and BOVESPA Index options, developed by the Exchange.
Institutions that are interested in taking part – including nonresident ones – have until September 26, 2011 to deliver proposals. The winners will be announced on October 11, 2011 .
The winners for each of the objects of the competitive bidding process will be the three proposals that present the lowest maximum volatility spreads, defined as the percentage calculated on the basis of the ratio between the implied volatilities of the bid and offer prices for each option.
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Source: BM&FBOVESPA
Maple Group Extends Expiration of Offer to September 30, 2011
July 3, 2011--Maple Group Acquisition Corporation ("Maple"), a corporation whose investors comprise 13 of Canada's leading financial institutions and pension funds, today announced that it has extended its offer to acquire a minimum of 70% and a maximum of 80% of the shares of TMX Group Inc. ("TMX Group") (TSX: X) to September 30, 2011 unless further extended or withdrawn. The offer is part of an integrated acquisition transaction, valued at approximately $3.8 billion, to acquire 100% of TMX Group shares.
During this extension, Maple intends to continue to work on obtaining the required regulatory approvals for the TMX Group acquisition, including from the securities regulatory authorities and the Competition Bureau. If the required regulatory approval process has not been completed by September 30, Maple's current intention would be to further extend its offer. Maple remains committed to its offer and is confident it can secure all necessary regulatory approvals by late fall.
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Source: Maple Group Acquisition Corporation
IndexIQ Announces July 2011 Performance of its IQ Hedge Family of Investable Benchmark Hedge Fund Replication Indexes
Aug 03, 2011--IndexIQ, a leading developer of index-based alternative investment solutions, today announced the performance of its proprietary family of hedge fund replication and alternative beta indexes.
Designed as investable benchmarks that replicate the performance characteristics of sophisticated hedge fund strategies, the IQ Hedge(TM) benchmark indexes were originally introduced on March 30, 2007, and have been calculating live since that date. IQ Hedge is the first family of investable benchmark indexes covering hedge fund replication/alternative beta strategies.
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Source: IndexIQ
Report to the Secretary of the Treasury from the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association
August 3, 2011--Dear Mr. Secretary:
When the Committee last met in early May, the pace of economic growth had downshifted noticeably. Since then, growth has continued to disappoint, as second quarter real GDP advanced at only a 1.3% annual rate following a downward-revised pace in the first quarter of 0.4%. Growth was held back in the first half of the year, in part, by some temporary headwinds, including the drag from higher energy prices and the supply disruptions following the Tohoku earthquake.
The fading of these drags may allow for somewhat better growth in the second half of the year. Nonetheless, the recent step-down in consumer sentiment and the slowdown in the pace of employment growth have tempered expectations regarding the vigor of the anticipated rebound.
The disappointment in second quarter growth was a result of domestic demand only advancing at a modest 0.5% annual rate; net exports and inventory building both made positive contributions to growth last quarter. Real consumer spending barely increased last quarter, edging forward at a 0.1% annual rate, which was the slowest pace in the two year-old current expansion. Nominal consumer spending advanced at a 3.2% rate, but the large coincident rise in consumer prices meant that the increase in dollar outlays was matched by a very small increase in volumes purchased. In addition to the drag from higher food and energy prices, survey measures of consumer attitudes indicate increased caution on the part of households, particularly regarding the health of the labor market.
Home buying has remained fairly stable at depressed levels. Construction activity appears to have increased somewhat in the multifamily sector, but homebuilding in the larger single-family sector is mired at historically very low levels. House prices have declined modestly over the last three months, though the pace of decline has become less severe and there is some evidence that prices for non-distressed properties may be modestly increasing.
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Source: US Department of the Treasury
Pimco files with the SEC
August 3, 2011--Pimco has filed a Post-Effective Amendment No. 32 to the Registration Statement of PIMCO ETF Trust on Form N-1A is being filed pursuant to Rule 485(a) to register the PIMCO Australia Bond Index Fund, PIMCO Canada Bond Index Fund, and
PIMCO Germany Bond Index Fund, each a new series of the Registrant.
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Source: SEC.gov
FactorShares files with the SEC
August 3, 2011--FactorShares has filed an application for exemptive relief with the SEC.
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Source: SEC.gov
AdvisorShares files with the SEC
August 3, 2011--AdvisorShares has filed a post-effective amendment, registration statement with the SEC for the Accuvest Global Opportunities ETF.
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Source: SEC.gov
CSA and IIROC announce regulatory framework for dark liquidity in Canada
August 2, 2011--On July 29, 2011 the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) announced today they are moving forward with proposals to implement a comprehensive new regulatory framework for the use of dark liquidity in the Canadian market.
The new framework provides a regulatory response to developments regarding dark liquidity in Canada, particularly the increasing use of dark orders, or orders entered with no pre-trade transparency. The framework acknowledges the importance of innovation in the Canadian market, while establishing strong rules to ensure that market integrity and price discovery remain protected.
"This new framework for dark liquidity in Canada proposes a balance between recognizing the value of dark liquidity to industry participants and ensuring the continued protection of retail investors, pre-trade price discovery and the overall quality of our market," said Bill Rice, Chair of the CSA and Chair and CEO of the Alberta Securities Commission.
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Source: Canadian Securities Administrators (CSA)
Treasury Announces Marketable Borrowing Estimates
October 2, 2011--The U.S. Department of the Treasury today announced its current estimates of net marketable borrowing for the July – September 2011 and the October – December 2011 quarters:
During the July – September 2011 quarter, Treasury expects to issue $331 billion in net marketable debt, assuming an end-of-September cash balance of $110 billion. This borrowing estimate is $74 billion lower than announced in May 2011. The decrease in borrowing largely relates to lower outlays and cash balance adjustments.
•During the October – December 2011 quarter, Treasury expects to issue $285 billion in net marketable debt, assuming an end-of-December cash balance of $100 billion.
During the April - June 2011 quarter, Treasury issued $190 billion in net marketable debt, and ended the quarter with a cash balance of $137 billion, of which $5 billion was attributable to the Supplementary Financing Program (SFP). In May 2011, Treasury estimated $142 billion in net marketable borrowing and assumed an end-of-June cash balance of $95 billion, which included an SFP balance of $5 billion.
Additional financing details relating to Treasury’s Quarterly Refunding will be released at 9:00 a.m. on Wednesday, August 3, 2011.
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Source: US Department of the Treasury
