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CFTC.gov Commitments of Traders Reports Update
January 28, 2011--The current reports for the week of January 25, 2011 are now available.
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Source: CFTC.gov
iShares files with the SEC
January 28, 2011--iShares has filed a registration statement with the SEC for the iShares MSCI Emerging Markets Small Cap Index Fund.
view filing
Source: SEC.gov
Charles Schwab files with the SEC
January 28, 2011--Charles Schwab has filed an application for exemptive relief with the SEC.
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Source: SEC.gov
SPDR® Index Shares Funds files with the SEC
January 28, 2011--SPDR® Index Shares Funds has filed a post-effective amendment No. 30, registration statement with the SEC.
view filing
Source: SEC.gov
CME Group Announces that E-micro Gold Futures Reach Record Volume
January 28, 2011--CME Group, the world’s leading and most diverse derivatives marketplace, today announced record volume yesterday in its COMEX E-micro Gold futures contract of 2,007 contracts. The prior record was 1,439 on January 20, 2011.
The E-micro Gold contract, which was launched on October 4, 2010, is one-tenth the size of the benchmark 100-oz full-size gold futures contract.
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Source: CME Group
Standard & Poor's Announces Changes in the S&P/TSX Venture Composite Index
January 28, 2011--Standard & Poor's
will make the following changes in the S&P/TSX Venture Composite Index after
the close of trading on Friday, January 28, 2011:
Cervus Equipment Corporation (tsxvn:CVL) will be removed from the index. The company will graduate to trade on the TSX under
the same ticker symbol.
The shares of Lysander Minerals Corporation (tsxvn:LYM) will
trade under the new name EastCoal Inc. The new ticker symbol will be "ECX" and the new CUSIP number will be 276165 10 7.
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
Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices
January 28, 2011--Standard & Poor's Canadian Index Operations announces the following index changes: Brookfield Asset Management Inc. (TSX:BAM.A) has acquired 113.3 million shares of General Growth Properties Inc. from the Fairholme Fund. Brookfield Asset Management has issued 27.5 million shares to Fairholme as part of the payment in the transaction.
The relative weight of Brookfield Asset Management will increase in the S&P/TSX Composite and Capped Composite, the S&P/TSX Equity and Capped Equity, the S&P/TSX 60, 60 Capped and Equity 60, the S&P/TSX MegaCap, the S&P/TSX Capped Real Estate and the S&P/TSX Composite Dividend indices to reflect this issuance of Brookfield shares. There will be no change to the weight of Brookfield Asset Management in the S&P/TSX 60 Equal Weight or the S&P/TSX 60 130/30 Strategy Index. These changes will be effective after close on Friday, February 4, 2011.
Source: Standard & Poors
Vanguard Launches Total International Stock ETF
January 28, 2011--Vanguard today introduced the Vanguard Total International Stock ETF (VXUS), which seeks to track the MSCI All Country World ex USA Investable Market Index. The Total International Stock ETF will have an estimated expense ratio of 0.20%, which is more than 60% lower than the average expense ratio of competing ETFs. (Source: Lipper, Inc., as of December 31, 2009.)
The new ETF is a separate share class of Vanguard Total International Stock Index Fund, which was introduced in 1996 and is currently Vanguard’s second-largest international index fund, with $51.4 billion in net assets.
“Vanguard Total International Stock ETF (VXUS) is a new way to invest in an established fund that offers broad international diversification with an extremely modest price tag,” said Vanguard’s Chief Investment Officer Gus Sauter. “It complements our Total Stock Market ETF and Total Bond Market ETF, and enables advisors and individual investors to assemble a simple, balanced, and well-diversified portfolio using low-cost ETFs.”
The Total International Stock ETF’s target index covers 98% of the world’s non-U.S. markets, including the European, Pacific, and emerging market regions, as well as Canada. The index includes more than 6,000 issues encompassing stocks of large-, mid-, and small-capitalization companies in 44 countries.
Source: Vanguard
State Street Global Advisors Introduces Three New SPDR® Industry ETFs
January 27, 2011--State Street Global Advisors (SSgA), the asset management business of State Street Corporation (NYSE: STT), today announced that the SPDR S&P® Transportation ETF (Symbol: XTN), SPDR S&P Telecom ETF (Symbol: XTL), and SPDR S&P Healthcare Equipment ETF (Symbol: XHE) began trading on the NYSE Arca on January 27, 2011. The launch of these three exchange traded funds (ETFs) brings State Street’s family of SPDR ETFs in the US to 96 offerings, including 41 that provide precise exposure to a wide range of US, international, and global industries, sectors and real estate segments.
SSgA’s three new SPDR industry ETFs will seek to track the performance of a series of S&P Select Industry Indices, which are designed to measure the performance of narrow Global Industry Classification Standard (GICS®) sub-industries, the most detailed level of industry definition. Constituent stocks are members of the S&P Total Market Index, which includes all common equities listed on the NYSE and the NASDAQ US exchanges.
“Our family of exchange traded funds continues to expand to meet the needs of a growing number of investors and financial professionals who rely on SPDR ETFs to implement a variety of asset allocation strategies and enhance the diversification of their portfolios,” said James Ross, senior managing director and global head of SPDR Exchange Traded Funds at State Street Global Advisors. “With the addition of these three new SPDR ETFs, investors have the ability to access the closely-followed transportation, telecom and healthcare industries with unmatched precision.”
SSgA’s new ETFs include:
| ETF Name | Ticker | Index Description | Expense Ratio | ||||
| SPDR S&P Transportation ETF | XTN | The S&P Transportation Select Industry Index is an equal-weighted index that includes 32 transportation companies with market capitalizations of at least $400 million. | 0.35% | ||||
| SPDR S&P Telecom ETF | XTL | The S&P Telecom Select Industry Index is an equal-weighted index that includes 27 telecom companies with market capitalizations of at least $400 million. | 0.35% | ||||
| SPDR S&P Healthcare Equipment ETF | XHE | S&P Healthcare Equipment Select Industry Index is an equal-weighted index that includes 30 healthcare equipment companies with market capitalizations of at least $400 million. | 0.35% | ||||
State Street manages $255 billion* in SPDR ETF assets worldwide (as of
December 31, 2010) and is one of the largest ETF providers in the US and
globally.
Source: State Street Global Advisors
FCIC Releases Report on the Causes of the Financial Crisis
This Crisis was Avoidable – a Result of Human Actions, Inactions
and Misjudgments; Warning Signs Were Ignored
January 27, 2011--Today the Financial Crisis Inquiry Commission delivered the results of its
investigation into the causes of the financial and economic crisis. The Commission concluded that the
crisis was avoidable and was caused by:
Widespread failures in financial regulation, including the Federal Reserve’s failure to stem the
tide of toxic mortgages;
Dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk;
An explosive mix of excessive borrowing and risk by households and Wall Street that put the
financial system on a collision course with crisis
Key policy makers ill prepared for the crisis, lacking a full understanding of the financial system they oversaw;
And systemic breaches in accountability and ethics at all levels.
“Despite the expressed view of many on Wall Street and in Washington that the crisis could not have been foreseen or avoided, there were warning signs. The greatest tragedy would be to accept the refrain that no one could have seen this coming and thus nothing could have been done. If we accept this notion, it will happen again” said Phil Angelides, Chairman of the Commission.
The Commission’s report also offers conclusions about specific components of the financial system that contributed significantly to the financial meltdown. Here the Commission concluded that: collapsing mortgage-lending standards and the mortgage securitization pipeline lit and spread the flame of contagion and crisis, over-the-counter derivatives contributed significantly to this crisis, and the failures of credit rating agencies were essential cogs in the wheel of financial destruction.
view the report-THE FINANCIAL CRISIS INQUIRY REPORT
Source: Financial Crisis Inquiry Commission
