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Fee Rate Advisory #2 For Fiscal Year 2014
October 31, 2013--The Securities and Exchange Commission is operating under a continuing resolution until January 15. Accordingly, the fees paid under Section 31 of the Securities Exchange Act will remain at their current rate until 60 days after the enactment of a regular appropriation for the SEC.
The SEC is required to publish a revised fee rate 30 days after enactment of the new fiscal year appropriation and the new rate takes effect 60 days after the appropriation is enacted. Until then, the Section 31 fee rate will remain at the current rate of $17.40 per million for securities transactions and the assessment on round turn transactions in security futures will remain at $0.0042 per transaction.
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Source: SEC.gov
Dow, S&P 500 end at record highs
October 30, 2013--The Dow and S&P 500 ended at record highs on Tuesday after economic data supported views that the Federal Reserve would keep its stimulus intact for several months and IBM rallied after the company announced a stock buyback.
IBM gave the biggest boost to the Dow, which led the day's gains. The stock, which also helped drive the S&P 500's advance, jumped 2.7% to $182.12 after the company's board of directors approved another $15bn for stock buybacks.
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Source: FIN24
CETFA and Smarten Up Institute (SUI) Partner to Offer ETF Education
October 30, 2013--The Canadian Exchange Traded Fund Association (CETFA) has partnered with the Smarten Up Institute (SUI) to create four Exchange Traded Fund courses-two courses will be primarily for online distribution focusing on the product and compliance aspects for anyone needing immediate information, and two will be for those in the industry wishing to delve into the more complex science of ETF's in a classroom setting, the two groups announced today.
The courses will be launched by the end of the year.
The ETF courses will be focused on the ETF market in Canada and will be designed for advisors and investors wanting an in-depth understanding of the ETF product and the industry.
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Source: Smarten Up Institute Inc.
CFTC Announces Mutual Acceptance of Approved Legal Entity Identifiers
October 30, 2013--The U.S. Commodity Futures Trading Commission (CFTC) announced in a Notice posted on the CFTC.gov website on October 30, 2013, that registered entities and swap counterparties subject to CFTC swap data recordkeeping and reporting regulations concerning Legal Entity
Identifiers (LEIs) can now comply with those regulations by using any LEI issued by an LEI provider endorsed by the Regulatory Oversight Committee (ROC) of the global LEI system.
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Source: CFTC.gov
The NASDAQ Stock Market Surpasses 100 IPOs in 2013 Year-to-Date
October 30, 2013--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that it has welcomed over 100 initial public offerings* (IPO) to the NASDAQ Stock Market in 2013 year-to-date, more IPOs than any other U.S. exchange. This marks the first time NASDAQ has passed this milestone since 2007, when 154 IPOs were completed by year-end.
The combined proceeds raised by NASDAQ's 102 IPOs in 2013 year-to-date total more than $12.5 billion.
"The more than 100 new companies to list on NASDAQ this year represent visionaries and innovators from a diverse range of industries," said Bruce Aust, Executive Vice President, NASDAQ OMX. "By continuing to partner with such dynamic companies, NASDAQ fuels greater investment and confidence in the public markets to support robust economic growth."
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Source: NASDAQ OMX
Nasdaq Glitch Prompts Trading Halt in Some Markets
October 30, 2013--The Nasdaq Composite was frozen for nearly an hour during midsession trade Tuesday after Nasdaq OMX Group experienced problems transmitting data for stock-market indexes, the latest in a series of U.S. equity market breakdowns.
The widely tracked Nasdaq Composite Index froze for nearly an hour Tuesday after Nasdaq OMX Group Inc. experienced problems transmitting data for stock-market indexes, the latest in a series of technical problems besetting Nasdaq.
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Source: Wall Street Journal
CFTC Announces Mutual Acceptance of Approved Legal Entity Identifiers
October 30, 2013--The U.S. Commodity Futures Trading Commission (CFTC) announced in a Notice posted on the CFTC.gov website on October 30, 2013, that registered entities and swap counterparties subject to CFTC swap data recordkeeping and reporting regulations concerning Legal Entity Identifiers (LEIs)
can now comply with those regulations by using any LEI issued by an LEI provider endorsed by the Regulatory Oversight Committee (ROC) of the global LEI system.
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Source: CFTC.gov
Federal Reserve Issues FOMC Statement
October 30, 2013--Information received since the Federal Open Market Committee met in September generally suggests that economic activity has continued to expand at a moderate pace.
Indicators of labor market conditions have shown some further improvement,, but the unemployment rate remains elevated. Available data suggest that household spending and business fixed investment advanced, while the recovery in the housing sector slowed somewhat in recent months. Fiscal policy is restraining economic growth. Apart from fluctuations due to changes in energy prices, inflation has been running below the Committee's longer-run objective, but longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic growth will pick up from its recent pace and the unemployment rate will gradually decline toward levels the Committee judges consistent with its dual mandate. The Committee sees the downside risks to the outlook for the economy and the labor market as having diminished, on net, since last fall. The Committee recognizes that inflation persistently below its 2 percent objective could pose risks to economic performance, but it anticipates that inflation will move back toward its objective over the medium term.
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Source: FBR
CFTC.gov Commitments of Traders Reports Update
October 30, 2013--The current reports for the week of October 15, 2013 are now available.
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Source: CFTC.gov
ISE Statement on OPRA Market Data Issue
October 30, 2013--The International Securities Exchange (ISE) experienced a technical issue that led to a disruption in its outbound market data feed to OPRA commencing at the market open through approximately 10:55 am.
The root cause has been identified as a configuration error on the OPRA side that they applied specifically to the communication lines dedicated to receiving data from ISE and ISE Gemini. After implementing a temporary work-around to resolve the issue this morning, ISE and OPRA technology teams are collaborating to restore the proper configuration.
Source: International Securities Exchange (ISE)
