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New rules on derivatives draw suit
December 5, 2013--Wall Street trade groups are launching a coordinated legal challenge against new rules for international derivatives trades-a pillar of the 2010 Dodd-Frank law intended to bring more light to once dark markets.
At stake in a lawsuit filed Wednesday against the Commodity Futures Trading Commission is how to police the multitrillion-dollar derivatives market that was a source of the 2008 financial crisis but that the industry argues could buckle under the weight of new rules-a charge advocates of tighter oversight say is an attempt to gut needed reforms.
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Source: politico.com
Northern Trust's ETF reboot finding its footing
December 5, 2013--FlexShares has been on a hiring spree this year as its assets under management have more than tripled.
Northern Trust's two-year-old exchange traded fund business grew its sales force by 50 per cent, bringing its number of wholesalers to 18.
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Source: FT.com
U.S. House passes bill to exempt private equity funds from rules
December 4, 2013--The U.S. House of Representatives passed a bill on Wednesday that would largely spare private equity fund advisers from federal regulations enacted after the 2007-2009 financial crisis.
The bill would exempt many private equity fund advisers from a provision in the 2010 Dodd-Frank Wall Street Reform law which required advisers with more than $150 million in assets under management to register with the U.S. Securities and Exchange Commission
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Source: Reuters
CFTC.gov Swaps Report Update
December 4, 2013--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Fidelity undercuts Vanguard''s target date funds
Mutual fund giant getting aggressive in the low-cost battle
December 4, 2013--Fidelity Investments is becoming aggressive in the low-cost battle against index fund giant Vanguard.
Fidelity has lowered the fees on its Fidelity Freedom Index Funds to just 16 basis points, or $16 a year for every $10,000 invested, from 19 basis points. It's not a big cut in real dollars, but it does make the Freedom Index Fund lineup slightly cheaper than The Vanguard Group Inc.'s target date funds, which charge 18 basis points.
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Source: Investment News
NASDAQ OMX Monthly Index Performance Report
December 4, 2013--The NASDAQ OMX Index Monthly Performance Report (as of 11/29/13)is now available.
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Source: NASDAQ OMX
Direxion Transitions Two Leveraged ETFs to FTSE China 25 Index
Bull and Bear Investors can Capitalize on Equity Performance of Largest and Most Liquid Chinese Companies
December 3, 2013--Direxion, a leader in alternative investment solutions, will transition two of its leveraged exchange-traded funds (ETFs) to the FTSE China 25 Index.
The Direxion Daily FTSE China Bull 3X Shares (YINN) and Direxion Daily FTSE China Bear 3X Shares (YANG) will begin following their new index on December 12, 2013, making them the first pair of 3X leveraged and inverse ETFs in the U.S. to track this composite.
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Source: Direxion
Cambria ETF Trust Launches Foreign Shareholder Yield ETF (FYLD)
Newly Launched ETF provides investors with an innovative approach to high yield stock investing in foreign markets by calculating dividends and share buybacks
December 3, 2013--The Cambria ETF Trust and its investment manager, Cambria Investment Management, LP, today launched the Cambria Foreign Shareholder Yield ETF (FYLD).
FYLD, listed on the NYSE Arca exchange, is comprised of 100 stocks in foreign developed markets that have historically ranked among the highest in paying cash dividends and engaging in share buybacks, two factors central to the concept of "shareholder yield."
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Source: Reuters
NYSE Euronext New Listing-State Street Global Advisors
December 3, 2013--Summary: NYSE Euronext (NYSE:NYX) is pleased to announce that on Thursday, December 05, 2013, the following ETF will be listed on NYSE Arca and will begin trading as a new issue:
SPDR MSCI EM Beyond BRIC ETF
Cusip:78463X 44 2
Trading Symbol: EMBB
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Source: NYSE
MSCI Launches New Multi-Factor Indexes
December 3, 2013--MSCI Inc. (NYSE: MSCI) today announced the launch of the MSCI Multi-Factor Indexes. This innovation offers institutional investors a basis for passively implementing index-linked multi-factor strategies transparently and cost-effectively.
MSCI Multi-Factor Indexes are available in standard combinations provided by MSCI or as a custom mix created by the client. Both approaches can be based on underlying flagship indexes such as MSCI EAFE, MSCI ACWI, MSCI World and MSCI Emerging Markets. MSCI offers investors insight for dynamically managing their custom Multi-Factor Index through a new analytical tool called IndexMetrics.
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Source: MSCI
