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BNY Mellon ADR Index Monthly Performance Review is Now Available
February 3, 2011--BNY Mellon ADR Index Monthly Performance Review is in now available.
view report
Source: BNY Mellon
Did SEC Staffer Surf Porn While Investors Got Burned?
February 2, 2011--A former regional supervisor at the Securities and Exchange Commission missed an alleged $550 million Ponzi scheme that was unfolding at the same time he was caught accessing pornography on his office computer, according to a report obtained by CNBC.
While the report does not suggest the supervisor missed the scam as a result of his pornography use, the report again spotlights embarrassing revelations of conduct by some staffers at the SEC, which is still trying to recover from its missteps in the Bernard Madoff scandal.
The supervisor, whose name is not being released by the SEC, has since resigned the agency.
read more
Source: CNBC
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
February 3, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Thursday, February 3, 2011:
Eurogas Corporation (TSXVN:EUG) will be removed from the index.
The company will graduate to trade on the TSX under the same ticker symbol.
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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
US One Trust files with the SEC
February 2, 2011-US One Trust has filed a post-effective amendment, registration statement with the SEC for
Russell Global Opportunity ETF (NYSE Arca Ticker Symbol: ONEO)
Russell Bond ETF (NYSE Arca Ticker Symbol: ONEB)
Russell Inflation ETF (NYSE Arca Ticker Symbol: ONEI)
view filing
Source: SEC.gov
Global X files with the SEC
February 2, 2011--Global X has filed a post-effective amendment, registration statement with the SEC for Global X Russell Emerging Markets Growth ETFand Global X Russell Emerging Markets Value ETF.
view filing
Source: SEC.gov
US Treasury urged to sell ultra long bonds
February 2, 2011--The US Treasury has been urged to sell “ultra-long” bonds with maturities of up to 100 years to help lower the government’s borrowing costs.
The longest bond issued by the US has a maturity of 30 years, and in recent years, the UK, France and China have sold 50-year debt. Extending the average maturity of its outstanding debt beyond the current 59 months would enable the US to take advantage of prevailing low yields on bonds.
read more
Source: FT.com
Direxion Shares Announces Reverse Share Split of Six ETFs
February 2, 2011--Direxion, a pioneer in providing alternative investment strategies to sophisticated investors, announced today it will execute a 1-for-5 reverse split of the shares of the Direxion Daily Financial Bear 3x Shares (FAZ), Direxion Daily Large Cap Bear 3x Shares (BGZ), Direxion Daily Mid Cap Bear 3x Shares (MWN), Direxion Daily Developed Markets Bear 3x Shares (DPK) and Direxion Daily Semiconductor Bear 3x Shares (SOXS) for shareholders of record after the close of the markets on Wednesday, Feb. 23, 2011.
Additionally, the firm announced it will execute a 1-for-3 reverse split of the shares of the Direxion Daily Small Cap Bear 3x Shares (TZA) for shareholders of record after the close of the markets on Wednesday, Feb. 23, 2011.
The CUSIPs for the six ETFs will change as follows:read more
Source: Direxion
Morgan Stanley Exchange-TradedFunds: ETF Net Cash Inflows of $37.9 Billion for 4Q10 and $110.2 Billion for FY 2010
February 2, 2011--There were 179 new ETFs listed in the US in
2010, of which 26 were issued in the fourth quarter. However, 49 ETFs were liquidated in 2010, resulting in net new issuance of 130. As of
January 28, 2011, there were 33 issuers with 987 ETFs listed in the US.
Net inflows into US-listed ETFs were $37.9 billion during the fourth quarter of 2010, bringing FY 2010 net cash inflows to $110.2 billion. While the $37.9 billion in net inflows in the
fourth quarter is well above the average quarterly net cash inflows of $26.1 billion over the past six
years, it is below the fourth quarter average net cash inflows of $45.7 billion from the previous six
years.
The largest net cash inflows in 2010 went into emerging market equity and fixed income ETFs. These asset classes had net cash inflows of $30.5 billion and $28.0 billion, respectively, in 2010. Commodity and US Sector and Industry ETFs had the next highest net cash flows in 2010 at $10.7 billion and $10.4 billion, respectively.
US ETF industry assets of $1,003 billion are 28% higher than their level at the end of 2009. Despite the growth of the ETF market, it remains concentrated with three providers and 20 ETFs accounting for almost 80% and 50% of industry assets, respectively.
Many newer listings have struggled to gain meaningful traction. The 485 ETFs launched since the start of 2008 (excluding liquidations) have an average market cap of $147 million but a median market cap of just $27 million. While some of the products offer unique exposure, many of the newer ETFs, particularly those with a narrower focus and those based on less well-known indices, have struggled to gain traction.
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Source: Morgan Stanley
NSX Releases January 2011 ETF Data Reports; Assets Reach New Month End Record
February 2, 2011--Highlights from the January 2011 reports include:
Assets in U.S. listed Exchange-Traded Funds (ETF) and Exchange-Traded Notes (ETN) totaled a new record of approximately $1.02 trillion at January 2011 month-end, an increase of approximately 37% over January 2010 month-end when assets totaled $744.7 billion.
ETF net cash inflows for the month totaled over $10.3 billion, with U.S. Equity leading all product categories with over $10.1 billion in net cash flow.
ETF/ETN notional trading volume during January 2011 totaled almost $1.3 trillion, representing 29% of all U.S. equity trading volume.
At the end of January 2011, the number of listed products totaled 1,121 compared to 947 listed products at the same time last year.
Visit http://www.nsx.com for more info.
Source: NSX
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
