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NASDAQ OMX Announces Intent to Modify Existing Rules on "Stub" Quotes
June 4, 2010--The NASDAQ OMX Group (Nasdaq:NDAQ) today announced that it intends to propose detailed rules to modify existing rules surrounding "stub" quotes within the Nasdaq Stock Market's market-maker and select market-maker programs to more effectively serve market participants, investors and listed companies. The decision is in response to some of the market events that occurred on May 6th that led to the use of "stub" quotes being executed against due to liquidity that was absorbed by selling pressure.
NASDAQ OMX also took the lead this week by announcing the NASDAQ Volatility Guard focused on safeguarding investors during times of high trading stress and remains committed to working with the Commission on protecting investors.
For more information on the NASDAQ Volatility Guard including a video message from Bob Greifeld, the SEC filing and the Wall Street Journal announcement please visit: http://www.nasdaqomx.com/volatilityguard
Source: NASDAQ OMX
Invesco PowerShares Lists International Corporate Bond Portfolio on NYSE Arca
June 3, 2010--Invesco PowerShares, a leading provider of exchange-traded funds (ETFs), announced the PowerShares International Corporate Bond Portfolio began trading today on the NYSE Arca under the ticker symbol PICB. The fund is expected to issue monthly distributions.
“The PowerShares International Corporate Bond Portfolio broadens our innovative family of fixed-income ETFs by providing unique access to investment-grade corporate bonds issued in developed markets outside the United States," said Ben Fulton, Invesco PowerShares managing director of global ETFs. “International corporate bonds tend to perform differently than domestic bonds and historically have exhibited a low correlation with major asset classes. We believe PICB significantly improves access to this previously difficult to reach segment of the bond market providing investors an important new tool to meet their investment objectives.”
The PowerShares International Corporate Bond Portfolio (PICB) is based on the S&P International Corporate Bond Index. The fund will normally invest at least 80% of its total assets in the securities that comprise the Index. This Index measures the performance of investment-grade corporate bonds issued by non-U.S. issuers in the following G-10 currencies: Australia dollar (AUD), British pound (GBP), Canadian dollar (CAD), Euro (EUR), Japanese yen (JPY), Swiss franc (CHF), Danish krone (DKK), New Zealand dollar (NZD), Norwegian krone (NOK) and Swedish krona (SEK).
For inclusion in the index, each bond must be rated investment grade by Standard & Poor’s or Moody’s Investors Service, Inc. with the lower of the two ratings used to determine eligibility.1 Each bond must also have a minimum threshold outstanding, respective to the currency in which it is issued. The weighting of each bond in the index is based on its outstanding market value, but the aggregate weight of the bonds in a single currency may not exceed 50%.
The index uses a modified market-capitalization weighted methodology and is reconstituted and rebalanced monthly. The index methodology also includes a yield enhancement feature. At each monthly rebalance, any currency with more than 10 eligible bonds will have the lowest yielding quartile of bonds removed from that currency’s eligible universe.
Invesco PowerShares Capital Management LLC is Leading the Intelligent ETF Revolution® through its family of more than 120 domestic and international exchange-traded funds, which seek to outperform traditional benchmark indexes while providing advisors and investors access to an innovative array of focused investment opportunities. With franchise assets over $47 billion as of March 31, 2010, PowerShares ETFs trade on both U.S. stock exchanges. For more information, please visit us at www.invescopowershares.com.
Invesco PowerShares is part of Invesco Ltd., a leading independent global investment manager, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
1 A classification given to a bond when its credit rating is BBB- or higher from Standard & Poor’s or Baa3 or higher from Moody’s. Credit ratings are assigned by Nationally Recognized Statistical Rating Organizations based on assessment of the credit worthiness of the underlying securities. The ratings range from AAA (highest) to D (lowest).
Source: Invesco PowerShares
PowerShares files with the SEC
June 3, 2010--PowerShares has filed a post-effective, registration statement with the SEC for
PowerShares Intermediate Build America Bond Portfolio (NYSE Arca, Inc. - BABI)
view filing
Source: SEC.gov
iShares files with SEC
June 3, 2010--iShares has filed a registration statement with the SEC for
iShares MSCI Russia Capped Index Fund
The fund seeks investment results
that correspond generally to the price and yield performance, before fees and
expenses, of the MSCI Russia 25/50 Index.
view filing
Source: SEC.gov
CBOE To Launch New ETF Weeklys On Friday, June 4
June 3, 2010--The Chicago Board Options Exchange (CBOE) today announced that on Friday, June 4, 2010, it will begin trading new Weekly options on four exchange traded funds (ETFs) - Standard and Poor's Depositary Receipts (SPY), Nasdaq-100 Index Tracking Stock (QQQQ), DIAMONDS Trust, Series 1 (DIA), and iShares Russell 2000 Index Fund (IWM).
Weekly options, first introduced by CBOE in October 2005, are one-week options as opposed to traditional options that have a life of months or years before expiration. New series for Weekly options are listed each Friday and expire the following Friday except that no Weeklys will be listed that would expire during the expiration week for standard options (the third Friday of each month).
read more
Source: CBOE
U.S. Department of the Treasury Economic Statistics - Quarterly Data Update
June 3, 2010--The U.S. Department of the Treasury Economic Statistics - Quarterly Data has been updated.
view report
Source: U.S. Department of the Treasury
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
June 3, 2010--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Thursday, June 3, 2010:
* Rockgate Capital Corp. (TSXVN:RGT) will be removed from the index.
* The company will graduate to TSX where it will trade under the same ticker symbol.
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
NASDAQ OMX to Deliver World's Fastest Trading Platform to Singapore Exchange
June 3, 2010--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that it will deliver an ultra low latency trading platform to Singapore Exchange (SGX). The new trading platform, named SGX Reach, will be powered by NASDAQ OMX's Genium INET, the fastest trading technology in the world. SGX's migration to the new trading platform will commence with cash equities in 2011.
The partnership between NASDAQ OMX and SGX dates back to the launch of a new derivatives trading platform in 2004. Since then the partnership has been extended to also include cash trading, derivatives clearing, commodities trading & clearing, and market data. The new Genium INET powered platform will enable significant latency and transaction capacity advantages and help strengthen SGX's position as the Gateway to Asia.
The Genium INET technology can deliver an average production roundtrip latency of sub-200 microseconds, with a throughput of over one million messages per second. Benchmark tests for SGX have shown an average latency below 90 microseconds.
Anna Ewing, Chief Information Officer at NASDAQ OMX, said, "SGX has truly earned its legacy as an innovator and early adopter of transformative exchange technology, and this is a significant milestone in our longstanding partnership. The commitment to migrate to our high performance Genium INET platform puts SGX at the technology forefront of exchanges, and sets the foundation for continued growth, both within and outside Asia."
Bob Caisley, Chief Information Officer at SGX, commented, "We are deploying the most advanced trading system in the world, thereby raising the bar for speed, capacity and scalability and providing our customers with a strong competitive advantage. The ultra low-latency and performance benefits of Genium INET will strengthen our position as the Asian Gateway and enable us to attract a wider range of market participants."
Source: NASDAQ OMX
Dow Jones Index Data Monthly Reports
June 2, 2010--The following Index Data Monthly Reports are now available:
Asia Pacific Edition
Europe Edition
U.S. Edition
MENA Edition
Dow Jones Islamic Market Indexes
Dow Jones-UBS Commodity Indexes
Latin America Edition
Dow Jones Brookfield Infrastructure Indexes
visit Dow Jones Indexes for more info
Source: Dow Jones Indexes
U.S. International Reserve Position
June 2, 2010--The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $124,176 million as of the end of that week, compared to $124,972 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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May 28, 2010 |
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A. Official reserve assets (in US millions unless otherwise specified) 1 |
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124,176 |
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(1) Foreign currency reserves (in convertible foreign currencies) |
Euro |
Yen |
Total |
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(a) Securities |
8,814 |
14,309 |
23,123 |
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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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(i) other national central banks, BIS and IMF |
12,901 |
7,015 |
19,917 |
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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 |
11,159 |
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(3) SDRs 2 |
54,376 |
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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) |
4,560 |
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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) |
4,560 |
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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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II. Predetermined short-term net drains on foreign currency assets (nominal value) |
read more
Source: U.S. Department of the Treasury
