Americas ETP News
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SEC Proposes Rules for Security-Based Swap Execution Facilities
February 2, 2011--The Securities and Exchange Commission today voted unanimously to propose rules defining security-based swap execution facilities (SEFs) and establishing their registration requirements, as well as their duties and core principles.
The Dodd-Frank Wall Street Reform and Consumer Protection Act authorized the SEC to implement a regulatory framework for security-based swaps, which currently trade exclusively in the over-the-counter markets with little transparency or oversight.
The Dodd-Frank Act sought to move the trading of security-based swaps onto regulated trading markets, and therefore created security-based SEFs as a new category of market intended to provide more transparency and reduce systemic risk.
"Our objective here is to provide a framework that allows the security-based swap market to continue to develop in a more transparent, efficient, and competitive manner," said SEC Chairman Mary L. Schapiro. "This is an important and complex undertaking that adds a significant new component to the regulatory framework for over-the-counter derivatives."
The Commission's proposed rules:
Interpret the definition of "security-based SEFs" as set forth in Dodd-Frank.
read more
Source: SEC.gov
Claymore files with the SEC
January 31, 2011--Claymore has filed a post effective amendment, registration statement with the SEC for
Guggenheim BulletShares 2012 High Yield Corporate Bond ETF
Guggenheim BulletShares 2013 High Yield Corporate Bond ETF
Guggenheim BulletShares 2014 High Yield Corporate Bond ETF
Guggenheim BulletShares 2015 High Yield Corporate Bond ETF
view filing
Source: SEC.gov
ISE Reports Business Activity for January 2011
Average daily volume in January 2011 up 29.9% over December 2010.
Dividend trades made up 5.1% of industry volume in January 2011.
ISE is third largest equity options exchange in January with market share of 19.5%, excluding
dividend trades.
February 1, 2011-The International Securities Exchange (ISE) today reported average daily volume of 3.3 million contracts
in January 2011, a decrease of 11.8% over January 2010.
Total options volume for the month was 66.1 million contracts. ISE was the third-largest U.S. equity options exchange in January with market share of
19.5%*. Business highlights for the month of January include:
Aggregate assets under management for ETFs based on ISE’s proprietary indexes was $1.1 billion as of January 31, 2011.
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Source: International Securities Exchange
Charles Schwab: Commodity ETFs: Spot and Futures Prices
Key points
Knowing whether an ETF tracks spot or futures prices will help you better understand its performance.
Futures-based ETFs, the most common structure for commodity ETFs, are subject to contango and backwardation. We'll explain what that means.
Designed for ETF investors.
February 1, 2011--One feature many investors like about exchange-traded funds (ETFs) is the ability to access parts of the market that were previously very hard to reach.
An example is the commodities asset class—hard to access in the past, but easier now with ETFs. Commodities have their own risks and aren't for everyone, but may be appropriate for investors looking for the opportunity to diversify beyond stocks and bonds.
Commodity ETFs work a bit differently from traditional stock and bond ETFs, though, and it's important to understand the difference before diving in. In order to understand how a commodity ETF works, you'll need to know whether it tracks spot prices or futures prices.
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Source: Charles Schwab
OIC Announces January Options Trading Volume Increased 21.5%
February 1, 2011--The Options Industry Council (OIC) announced today that 378,480,506 total options contracts changed hands in January, a 21.48 percent increase from the 311,561,541 contracts traded in January 2010.
January's trading volume was the second highest monthly total ever recorded, following only May 2010 when nearly 406 million changed hands. Average daily trading volume for January was 18,942,025 contracts, up 15.4 percent from the 16,397,976 contracts in January 2010.
Equity options volume (options on individual stocks and ETFs) in January saw 354,795,514 contracts change hands, 22.8 percent more than in January 2010 when 288,939,483 contracts were traded. On average, 17,739,776 contracts were traded each day throughout January compared to January of last year when an average of 15,207,341 contracts were traded daily, representing a 16.7 percent increase.
Source: OIC
ETF Securities Asian Gold Trust (AGOL) takes in $50M in AUM
February 1, 2011--ETF Securities USA LLC (ETFS) announced today that the newly launched ETFS Asian Gold Trust (AGOL) Exchange Traded Product (ETP) has gathered $50M in AUM.
AGOL is designed for investors who want a cost-effective(1) and convenient way to invest in gold held outside of the United States or Europe. The gold bars are allocated and held in a secure vault in Singapore.
Investors have further choice in gold holdings and can now diversify from gold epicenters like London and the U.S. into Asia using AGOL or into Switzerland using existing SGOL. Both offered at 0.39%. (1)
Singapore is the gateway to Asia, and like Switzerland, is widely considered a neutral country. Singapore welcomes free market trade and is a country that is poised for tremendous growth and free of sovereign debt (2) concerns.
ETFS’ Physical Asian Gold Shares ETP is the first U.S. precious metals product to be vaulted in Asia.
With AGOL, ETFS now offers seven precious metal ETPs in the U.S. – solidifying our position as market leader in issuance of physically-backed precious metal ETPs.
Each vault is audited bi-annually and the bar numbers of all the metal holdings are listed on the ETF Securities website, providing investors with insurance that they are, in fact, purchasing the underlying physical metal.
Commenting on this milestone for ETF Securities in the US, Fred Jheon, Head of Product & Business Development for ETFS Marketing LLC, commented:
“We are delighted with the immediate success of AGOL and look forward to broader investor adoption of our physically-backed precious metal products.”
Source: ETF Securities
Teucrium Trading, LLC to follow Launch of First Single Ag Commodity ETP with Two New Energy Funds
February 1, 2011--Teucrium Trading, LLC (Teucrium), the first company to introduce a single agricultural commodity Exchange Traded Product (“ETP”) in the United States, today announced the introduction of two new single commodity ETPs for the energy space – the Teucrium Natural Gas Fund (NYSE: NAGS) and the Teucrium WTI Crude Oil Fund (NYSE: CRUD).
The funds join the Teucrium Corn Fund (NYSE: CORN), which was successfully launched in June, as the latest additions to the growing Teucrium family of single-commodity ETPs.
Sal Gilbertie, President of Teucrium Trading, LLC, said that, like the Teucrium Corn Fund, the new funds have been designed to allow Registered Investment Advisors, pension funds, hedge funds, institutional and individual investors the opportunity to invest in single commodities through an easily traded, liquid and transparent New York Stock Exchange Arca-listed security.
The Teucrium Natural Gas Fund began trading on February 1, 2011 and the Teucrium WTI Crude Oil Fund is expected to begin trading in February 2011, pending final regulatory approval.
“With global growth and the increasing stress emerging markets are putting on commodities as pervasive as corn, oil and gas, it’s clear that commodities have become a valid asset class, although until now, access to single commodities for most investors has been very limited,” Gilbertie said.
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Source: Teucrium Trading, LLC
CBOE Holdings Reports January 2011 Trading Volumes:
CBOE Holdings Averages 5.3 Million Options Contracts Per Day in January, Up 9% Over January 2010; Increase of 22% from December 2010;
CFE/VIX Futures Post All-Time Record Monthly Volume
February 1, 2011--CBOE Holdings, Inc. (Nasdaq: CBOE) today announced that January trading volume for options on the Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2), the company's new alternative all-electronic market, combined, totaled 105.8 million contracts, an average daily volume (ADV) of 5.3 million contracts.
Futures trading on CBOE Futures Exchange (CFE) set a new monthly volume record of over 778,000 contracts in January, an ADV of 39,000 contracts
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Source: CBOE
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
February 1, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Tuesday, February 1, 2011:
Western Lithium USA Corporation (TSXVN:WLC) will be removed from the index. The company will graduate to trade on the TSX under the same ticker symbol.
The shares of PCI-1 Capital Corp. (TSXVN:ICC) will trade under the new name Curis Resources Ltd. The new ticker symbol will be "CUV" and the new CUSIP number will be 23127B 10 5. There is no consolidation of capital.
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 & Poors
Fed passes China in Treasury holdings
February 1, 2011--The Federal Reserve has surpassed China as the leading holder of US Treasury securities even though it has yet to reach the halfway mark in its latest round of quantitative easing, according to official figures.
Based on weekly data released on Thursday, the New York Fed’s holdings of Treasuries in its System Open Market Account, known as Soma, total $1,108bn, made up of bills, notes, bonds and Treasury Inflation Protected Securities, or Tips.
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Source: FT.com
