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U.S. Regulators Encourage Comments on the CPSS-IOSCO Consultative Report on the Principles for Financial Market Infrastructures
March 10, 2011--The Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organization of Securities Commission (IOSCO) today released for comment the consultative report on the Principles for Financial Market Infrastructures.
The CPSS and IOSCO expect these principles to play an important role in the future regulation of financial market infrastructures around the world. The Board of Governors of the Federal Reserve System, a member of the CPSS, and the U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission, members of the Technical Committee of IOSCO, encourage interested persons to review and comment on the consultative report. The deadline for submitting comments on the Principles for Financial Market Infrastructures is July 29, 2011.
The consultative report contains updated and new proposed international principles for systemically important payment systems, central securities depositories, securities settlement systems, central counterparties and trade repositories. The 24 proposed principles would replace existing CPSS and CPSS-IOSCO standards for payment, clearing and settlement systems previously published in the Core Principles for Systemically Important Payment Systems, Recommendations for Securities Settlement Systems and Recommendations for Central Counterparties and introduce principles for trade repositories for the first time.
The consultative report on the Principles for Financial Market Infrastructures is available at www.bis.org/publ/cpss94.htm. Comments on the report should be sent via email to cpss@bis.org and to fmi@iosco.org.
Source: CFTC.gov
Global X Funds Exceeds $1.5 Billion in Assets Under Management
March 9, 2011-Global X Funds, the New York based provider of exchange-traded funds (ETFs), exceeded $1.5 billion in assets under management (AUM) on March 1, 2011. Since the end of 2009, the firm’s AUM has grown over 1500%.
Global X Funds manages 23 exchange-traded funds across global commodities and developed and emerging markets fund suites. The largest funds include the Silver Miners ETF (SIL), Uranium ETF (URA), Lithium ETF (LIT), and China Consumer ETF (CHIQ). As of 3/1/11, their net assets were $498 million, $217 million, $186 million, and $162 million, respectively. The most recent product launches in 2011 are:
Global X Aluminum ETF (ALUM)
Global X Russell Emerging Markets Growth ETF (EMGX)
Global X Russell Emerging Markets Value ETF (EMVX)
Global X FTSE Andean 40 ETF (AND)
Global X FTSE ASEAN 40 ETF (ASEA)
Global X FTSE Argentina 20 ETF (ARGT) The firm is moving into a larger office space at 399 Park Avenue in New York City to accommodate recent hires. Alexandra Levis, Alex Ashby, and Amy Hernandez have joined the marketing, research, and operations teams, respectively.
“We continue to invest in exceptional talent and remain committed to providing investors with innovative products that allow relatively easy and cost effective access to global markets,” said Bruno del Ama, chief executive officer of Global X Funds.
Source: Global X
Charles Schwab Adds New Resources to Help Guide Investors on Exchange-Traded Funds
March 9, 2011--Charles Schwab has released a new tool designed to help investors find exchange-traded funds (ETFs) for their specific portfolio needs. The new, quarterly Schwab ETF Select List™ was created by Charles Schwab Investment Advisory, Inc.1 (CSIA) by filtering through all of the ETFs in the marketplace to highlight a select group of pre-screened, low-cost funds that can be used to fill portfolio gaps.
The company also released a collection of analysis and commentary on ETF investor behavior and trends for independent registered investment advisors (RIAs) and other industry participants who work with retail investors. The ETF Investor: 2010 in Review by Charles Schwab was published to help support and amplify the educational efforts these industry leaders are making to inform individual investors about ETFs.
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Source: Charles Schwab
ELX Futures Extends Quarterly Months For Eurodollar Futures Contracts To 5 Years From 2 Years
March 9, 2011-ELX Futures, L.P. (ELX), a leading electronic futures exchange, announced today that it will extend quarterly months for its Eurodollar futures contracts to 5 years from 2 years, effective March 14, 2011.
ELX launched its Eurodollar futures contract in June 2010. Since its launch, the Eurodollar contract has quickly established itself as a popular new contract, setting volume, market share and open interest (OI) records. OI in Eurodollar futures has risen above 300K and market share has hit nearly 2% earlier this week.
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Source: ELX Futures
CFTC.gov Financial Data for Futures Commission Merchants Update
March 9, 2011--Selected FCM financial data as of January 31, 2011 (from reports filed by March 4, 2011) is now available.
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Source: CFTC.gov
Teucrium files with the SEC
March 9, 2011---Teucrium has filed an Amendment No.1 to Form S-1 with the SEC for the Teucrium Soybean Fund.
view filing
Source: SEC.gov
Teucrium files with the SEC
March 9, 2011--Teucrium has filed an Amendment No.1 to Form S-1 with the SEC for the Teucrium Sugar Fund.
view filing
Source: SEC.gov
Credit Suisse Announces Launch of New 2x Monthly Leveraged Credit Suisse Merger Arbitrage Liquid Index (Net) ETN (the CSMB ET'N)
New CSMB ETN is the first publicly listed product to provide 2x monthly leveraged exposure to the merger arbitrage strategy
March 8, 2011-- Credit Suisse today announced the launch of the 2x Monthly Leveraged Credit Suisse Merger Arbitrage Liquid Index (Net) ETN, the first product to provide 2x monthly leveraged exposure to the merger arbitrage strategy in an exchange traded format.
NEW YORK, March 8, 2011 /PRNewswire/ -- Credit Suisse today announced the launch of the 2x Monthly Leveraged Credit Suisse Merger Arbitrage Liquid Index (Net) ETN, the first product to provide 2x monthly leveraged exposure to the merger arbitrage strategy in an exchange traded format.
The 2x Monthly Leveraged Credit Suisse Merger Arbitrage Liquid Index (Net) ETN (NYSE Arca: CSMB) is the newest edition in a suite of alternative ETN products, which seek to provide liquid access to some of the most popular alternative investment strategies. The CSMB ETN seeks to provide 2x monthly leveraged exposure to the merger arbitrage strategy as represented by the Credit Suisse Merger Arbitrage Liquid Index (Net), an index which benefits from daily valuations and a transparent rules-based construction process.
"Merger arbitrage strategies continue to generate increased investor interest due to their historically attractive risk-adjusted returns and diversification benefits. By providing leveraged exposure to the merger arbitrage strategy in an exchange traded format, investors benefit from real-time pricing, intraday liquidity and full portfolio transparency – advantages previously not associated with alternative investments," said Oliver Schupp, Head of the Beta Strategies Group which manages Credit Suisse's Liquid Alternative Beta strategies.
Michael G. Clark, head of the Structured Equity Derivatives desk in the Investment Bank, which is launching the ETN, added, "We are proud to lead the market with innovative exchange traded products that fill a void for investors seeking more transparent and cost effective access to the alternatives space. We are excited to introduce the CSMB ETN as the next innovative offering in our product line-up."
For more information on the Credit Suisse suite of Liquid Alternative ETN offerings, please visit: www.credit-suisse.com/notes.
Source: Credit Suisse AG
Emerging Market Inflation - Be Careful Not To Throw The Baby Out With The Bath Water
March 8, 2011--Emerging market food, energy, and commodity inflation is rising and may persist for decades to come as it is a by-product of robust growth. U.S. investor reaction has been somewhat indiscriminate. In the first 6 weeks of 2011, emerging market passive ETFs lost nearly 10% of their asset base1 as investors reduced their exposure - perhaps throwing the baby out with the bath water.
ome other investors discern that an emerging market position should not be a binary trade (in or out), but one that rotates with precise exposures based on the cyclicality of the market. In a higher inflation environment, emerging market energy and materials companies may provide a natural inflation hedge.
view “Inflation Defense with Emerging Market Sectors” (February 2011) is a 2 page brief on inflation in the emerging markets.
Source: Emerging Global Advisors
Direxion files with the SEC
March 8, 2011--Direxion has filed a post-effective amendment, registration statement with the SEC for 1X BEAR FUNDS
Fixed Income Funds
Direxion Daily 7-10 Year Treasury Bear 1X Shares (TYO)
Direxion Daily 20+ Year Treasury Bear 1X Shares (TMV)
view filing
Source: SEC.gov
