Americas ETP News
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DTCC Set To Launch Service To Automate Matching Of Broker-To-Broker Ex-Clearing Trades
Service Will Also Offer Real-Time Access to Track, Manage and Resolve Fails
January 16, 2011--The Depository Trust & Clearing Corporation (DTCC) announced today plans to launch Obligation Warehouse (OW) to automate the matching and confirmation of broker-to-broker trades that are currently confirmed and settled directly between the trading parties rather than through DTCC (known as ex-clearing), and to give Member firms real-time access to track, manage and resolve their failed obligations
The service, an offering of DTCC’s clearing agency subsidiary, National Securities Clearing Corporation (NSCC), is expected to be fully functional by June 2011, with implementation beginning in March 2011 following the Securities and Exchange Commission’s (SEC) recent approval of NSCC’s related rule filing.
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Source: DTCC
Joint CFTC-SEC Advisory Committee Meeting
February 16, 2011--Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) to host a meeting of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues.
When: Friday, February 18, 2011, 9:30 am (ET)
Where:CFTC Hearing Room, 1155 21st Street, NW, Washington, DC
Topic:Discussion of recommendations regarding events of May 6, 2010
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Source: CFTC.gov
Latin America: Some Countries Vulnerable to High Food Prices, others Likely to Benefit
February 16, 2011-- Like two sides of the same worn coin, the spiraling costs of food stuffs across the globe have raised the spectrum of a new food crisis in some of Latin America’s economies while simultaneously benefitting most others with windfall profits, said the region’s top World Bank officials.
A Bank assessment of the commodity spike states that since February 2009, international food prices have risen by more than 30 percent and agricultural raw material prices by more than 6 percent. During the same period, oil and metal prices have increased by around 100 percent.
“Virtually all the commodities that matter for the region are partaking in this strong wave of price increases. For certain countries the rise in non-food commodity prices can more than offset the increases in the prices of imported food,” says the report Vulnerability to Food Price Increases in LAC, 2011.
view report-Vulnerability to Food Price Increases in LAC, 2011
Source: World Bank
First Trust files with the SEC
February 15, 2011--First Trust has filed a post-effective amendment, registration statement with the SEC for First Trust NASDAQ CEA Smartphone Index Fund
view filing
Source: SEC.gov
First Trust files with the SEC
February 15, 2011--First Trust has filed a post effective amendment, registration state with the SEC for First Trust NASDAQ CEA Smartphone Index Fund.
view filing
Source: SEC.gov
JPMorgan revives samurai bond market
February 15, 2011--JPMorgan issued Y111bn ($1.33) of samurai bonds on Tuesday, making it the first US financial institution to do so since the collapse of Lehman Brothers and paving the way for its rivals to raise funds in Japan.
Samurai bonds are yen-denominated debt issued by foreign companies and institutions in Japan to institutional investors.
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Source:FT.com
Testimony of Chairman Gary Gensler before the House Committee on Financial Services
February 15, 2011--Good morning Chairman Bachus, Ranking Member Frank and members of the Committee. I thank you for inviting me to today’s hearing on implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act. I am pleased to testify on behalf of the Commodity Futures Trading Commission (CFTC). I also thank my fellow Commissioners for their hard work and commitment on implementing the legislation.
am honored to appear at today’s hearing alongside fellow regulators with whom we are working so closely to implement the Dodd-Frank Act. I am particularly happy to appear here with Chairman Schapiro, with whom I have a strong working relationship. I believe that this is the eighth time that we have testified together. We have consulted and coordinated closely with the SEC, Federal Reserve and other regulators on rulemakings to oversee the swaps markets. Throughout this process, interagency cooperation has been extraordinary and has improved our proposed rulemakings.
Before I move into the testimony, I want to congratulate Chairman Bachus on becoming Chairman of the Committee. I look forward to working with you and all Members of the Committee.
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Source: CFTC.gov
Exchange-Traded Funds: US ETF Weekly Update Morgan Stanley
February 14, 2011--Weekly Flows:
$3.0 Billion Net Inflows
ETFsTraded $299 Billion Last Week
Launches: 1 New ETF
IndexIQImplements Sub-Advisor Changes
US-Listed ETFs: Estimated Flows by Market Segment
ETFs had net inflows of $3.0 blnlast week, reversing two consecutive weeks of net outflows
Net inflows were led by US Equity ETFslast week (combined $3.2 blnnet inflows)
ETF assets stand at more than $1 trillion, nearly doubling overthe past two years
13-week flows were mostly positive among asset classes
$28.5 billion of net inflows into ETFs over past 13 weeks (majority into US Equity ETFs)
EM Equity ETFsposted meaningful net outflows ($8.1 bln) over the past 13 weeks, a reversal from most of 2010 when EM Equity ETFsgenerated net inflows of $30.5 bln
US-Listed ETFs: Estimated Largest Flows by Individual ETF
After two weeks of net outflows, SPDR S&P 500 ETF (SPY) bounced back last week
SPY posted net inflows of $1.4 bln, the most of any ETF;
13-week flows were slightly negative
The two largest EM Equity ETFs(VWO & EEM) exhibited a combined $2.3 blnin net outflows last week
request report
Source: Morgan Stanley
No More New Shares Of Double Long Ag ETF
February 14, 2011--Deutsche Bank (NYSE: DB) said it will no longer issue new shares of the PowerShares DB Agriculture Double Long ETN (NYSE: DAG), a popular double leveraged play on agriculture commodities, perhaps in a move to comply with new restrictions set forth by regulators on commodities-related exchange traded products.
Daily repurchases at the option of holders of the notes will not be affected by this suspension, but the product will not be offered to new investors," Deutsche Bank said in a statement.
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Source: International Business Times
U.S. International Reserve Position
February 14, 2011--The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $133,919 million as of the end of that week, compared to $133,945 million as of the end of the prior week.
I. Official reserve assets and other foreign currency assets (approximate market value, in US millions)
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I. Official reserve assets and other foreign currency assets (approximate market value, in US millions) |
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February 4, 2011 | |||
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A. Official reserve assets (in US millions unless otherwise specified) 1 |
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133,919 | |
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(1) Foreign currency reserves (in convertible foreign currencies) |
Euro |
Yen |
Total | |
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(a) Securities |
9,473 |
15,849 |
25,322 | |
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of which: issuer headquartered in reporting country but located abroad |
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0 | |
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(b) total currency and deposits with: |
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| |
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(i) other national central banks, BIS and IMF |
14,309 |
7,776 |
22,084 | |
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ii) banks headquartered in the reporting country |
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0 | |
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of which: located abroad |
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0 | |
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(iii) banks headquartered outside the reporting country |
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0 | |
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of which: located in the reporting country |
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0 | |
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(2) IMF reserve position 2 |
12,738 | |||
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(3) SDRs 2 |
57,690 | |||
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(4) gold (including gold deposits and, if appropriate, gold swapped) 3 |
11,041 | |||
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--volume in millions of fine troy ounces |
261.499 | |||
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(5) other reserve assets (specify) |
5,044 | |||
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--financial derivatives |
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--loans to nonbank nonresidents |
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--other (foreign currency assets invested through reverse repurchase agreements) |
5,044 | |||
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B. Other foreign currency assets (specify) |
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--securities not included in official reserve assets |
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--deposits not included in official reserve assets |
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--loans not included in official reserve assets |
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--financial derivatives not included in official reserve assets |
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--gold not included in official reserve assets |
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--other |
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Source: US Department of the Treasury
