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Release of Joint Staff Report on October 15,2014
July 13, 2015--Staff from the U.S. Department of Treasury, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York. the U.S. Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission today issued a joint report analyzing the significant volatility in the U.S. Treasury market on October 15, 2014.
Using non-public data from the U.S. Treasury cash and futures markets, the joint report provides detailed analysis of the market conditions and record trading volumes that day, including an unusually rapid round trip in prices and deterioration in liquidity during a narrow window.
view the Joint Staff Report: The U.S. Treasury Market on October 15, 2014 report
Source: CFTC.gov
KBW and Nasdaq Launch Global Bank Index
KBW Nasdaq Global Bank Index (GBKX) is the first and only index designed to track the performance of global systematically important banks
GBKX is the first joint index launched since the companies announced their partnership in April
July 13, 2015--Keefe Bruyette & Woods (KBW), a Stifel company (NYSE:SF), and Nasdaq (NASDAQ:NDAQ), today announced the launch of the KBW Nasdaq Global Bank Index (Ticker: GBKX), the first and only index designed to track the performance of those banks designated as global systemically important (G-SIBs) by the Financial Stability Board and Basel Committee on Banking Supervision.
The 28 banks included in the KBW Nasdaq Global Bank Index represent 45% of the global investable banking universe and account for approximately $3T in total market cap.
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Source: Nasdaq.com
Greece and China Battle for Most Dangerous ETF
Who will win? Pop a Dramamine and check out this chart
July 13, 2015--The collapse of Chinese stocks in the past month does indeed eclipse Greece's market turmoil.
But when it comes to the volatility of the exchange-traded funds tracking those two markets, it's a (scary) toss-up.
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Source: Bloomberg
John Hancock Investments selects Dimensional Fund Advisors to manage suite of multifactor ETFs
July 13, 2015--In a registration statement filed today with the U.S. Securities and Exchange Commission, John Hancock Investments disclosed that Dimensional Fund Advisors LP (Dimensional) was selected to manage six John Hancock multifactor exchange-traded funds (ETFs), leveraging Dimensional's long record of applying insight from academic research into a systematic investment process across asset classes.
This rules-based, or strategic beta, approach seeks to improve outcomes for investors by focusing on additional factors outside of market capitalization that, through historical analysis, have been shown to have the potential for higher expected returns.
Gavekal Capital Launches Gavekal Knowledge Leaders ETFs
Strategic Beta ETFs Offer Investors Exposure to Excess Returns of Highly Innovative Companies in the Developed and Emerging Markets
July 13, 2015--Gavekal Capital today announced the launch of two strategic beta ETFs offering investors exposure to the excess returns of companies Gavekal identifies as the world's most highly innovative
The Gavekal Knowledge Leaders Developed World ETF (KLDW) and the Gavekal Knowledge Leaders Emerging Markets ETF (KLEM) are listed on NYSE.
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Source: MarketWatch
Regulators Tie High-Speed Trading to Treasury Volatility
July 12, 2015--U.S. officials have concluded that high-frequency trading contributed to the Treasury market's wild ride last October, a finding that will probably add to regulatory scrutiny of the industry.
While a soon-to-be-published government report won't point to just one cause, it will cite speed traders as playing a key role, according to a person with direct knowledge of the study. Treasury yields plunged the most in five years on Oct. 15, 2014, before recovering, fueling a months-long debate over whether something has fundamentally changed in a $12.7 trillion market that most investors consider a safe haven.
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Source: Bloomberg
COLUMN-Banking regulators heighten financial market risk
June 12, 2015--During the 2008 financial crisis, the authors of this editorial were in unique positions to observe the near-collapse of our financial system.
One of us was at the White House serving on the President's Council for Economic Advisors and the other was a senior executive of a global operator of trading platforms for cash and derivatives financial products.
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Source: Reuters
NYSE Outage Shows a Need for Plan B
The last 15 minutes of the trading are crucial
July 10, 2015--U.S. regulators called on top exchange officials two years ago to strengthen the plumbing that underpins the stock market after a series of trading disruptions.
The exchanges did an analysis and concluded they needed a backup plan for the crucial 15-minute closing auction each day when traders are guaranteed they'll get the final price. Yet when the New York Stock Exchange suspended trading for hours on Wednesday, there were unanswered questions.
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Source: Bloomberg
Direxion files with the SEC
July 10, 2015--Direxion has filed a post-effective amendment, registration statement with the SEC.
view filing
Source: SEC.gov
SEC should make all money funds float shares, IMF says
July 10, 2015--The US Securities and Exchange Commission should extend its new floating-value rule to all money market funds rather than limiting it
just to prime funds used by institutional investors, the International Monetary Fund said.
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Source: mlexfs-core.com
