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Vanguard's $130 Billion Year
December 11, 2012--The $5 footlong. The $340 laptop. Free two-day shipping. All hallmarks of our economic times.
Vanguard, the 38-year-old low-cost investing pioneer, brings you the Great Deflation.
The fund company is not just having its best year ever. (It shattered that record in September.) The $130.4 billion in deposits in mutual funds and exchange-traded funds that Vanguard has taken in through November is the most ever for the industry, according to data from Strategic Insight. That beats the $129.6 billion that JPMorgan (JPM) clocked, mostly for money market funds, in 2008. This year’s not over.
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Source: Bloomberg BusinessWeek
NASDAQ OMX Adds Consumer Demand Data to Its Machine-Readable News Service
U.S. Consumer Demand Index Data is Delivered First by NASDAQ OMX Event-Driven Analytics
December 11, 2012--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), parent of the world's first electronic stock market, today announced U.S. consumer demand data is now delivered by NASDAQ OMX Event-Driven Analytics, a leading provider of machine-readable economic news to financial institutions and trading firms.
The U.S. Consumer Demand Index, which predicts developments in American consumer spending several months in advance with a high degree of certainty, is delivered via Event-Driven Analytics five minutes before it is distributed to other end-users. This gives Event-Driven Analytics subscribers early insight into valuable information about personal consumption behavior.
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Source: NASDAQ OMX
BATS Exchange Welcomes ProShares ETF
Becomes Second ETF Family to List Products on BATS Exchange
December 11, 2012--BATS Global Markets (BATS), a leading operator of securities markets in the U.S. and Europe, today announced that ProShares, a premier provider of alternative exchange traded funds (ETFs), will list the ProShares Merger ETF on BATS Exchange.
The ProShares Merger ETF is scheduled to begin trading on BATS Exchange on December 13 under the ticker MRGR. The fund is designed to track the performance of the S&P Merger Arbitrage Index, which provides exposure to a global merger arbitrage strategy. The new ETF listing makes ProShares the second ETF family to list on the BATS Exchange.
"We're excited to welcome another respected exchange traded fund family like ProShares to the BATS Exchange as our innovative approach to the ETF listings business continues to attract issuers and investors alike," said BATS Global Markets President and CEO Joe Ratterman.
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Source: BATS Exchange
Market Vectors High-Yield Municipal Index ETF Becomes the First High-Yield Muni ETF to Cross the $1 Billion Asset Threshold
Strong demand for yield together with historically low interest rates have fueled investor demand for municipal funds across the yield curve and credit spectrum
December 11, 2012--Market Vectors High-Yield Municipal Index ETF(NYSE Arca: HYD), has surpassed $1 billion in assets under management (AUM), it was announced.
HYD is the first high-yield municipal bond ETF, and just the fourth municipal bond ETF overall, to pass this threshold. This milestone puts the entire Market Vectors suite of six municipal income ETFs over $2 billion in AUM.
"High yield is far more than a niche in the municipal bond market as it enables traditional as well as certain for-profit issuers to access capital at a lower cost than they otherwise could in the taxable market," said James Colby, Portfolio Manager and Senior Municipal Strategist with Market Vectors ETFs. "More significantly, it is an attractive source of tax-free* yield for investors who seek to augment their income stream in a yield constrained market.
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Source: Daily Finance
CFTC's Division of Swap Dealer and Intermediary Oversight Issues No-Action Relief Providing an Alternative to Fingerprinting to Establish Fitness of Principals Residing Outside the United States
December 11, 2012--The Commodity Futures Trading Commission's Division of Swap Dealer and Intermediary Oversight (DSIO) today announced the issuance of a no-action letter relating to the fingerprinting requirement under Commission Regulation 3.10(a)(2) for certain principals of Commission registrants.
The no-action letter is in response to requests from market participants for relief from the fingerprinting requirement for principals of Commission registrants where the principals have not resided in the United States since reaching 18 years of age (Non-U.S. Principals).
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Source: CFTC.gov
CFTC's Division of Market Oversight Provides Time-Limited No-Action Relief to Provide Certain Exemptive Relief Consistent With the Expiring July 2012 Exemptive Order
December 11, 2012--The Commodity Futures Trading Commission's (CFTC) Division of Market Oversight (DMO) today announced the issuance of a time-limited no-action letter providing temporary no-action relief consistent with the intent to preserve the regulatory status quo with respect to transactions and persons described in certain paragraphs of the Commission's expiring Second Amendment to July 14, 2011 Order (due to expire on December 31, 2012) and the conditions thereto,
by permitting transactions and relevant persons to continue to operate in compliance with various CEA exemptive and excluding provisions in place prior to July 16, 2011, subject to, among other conditions, various anti-fraud and anti-manipulation prohibitions.
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Source: CFTC.org
BNY Mellon DR Indices Monthly Performance--November 2012
December 11, 2012--The BNY Mellon DR Index Monthly Performance Review October 2012 is now available.
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Source: BNY Mellon
US Senate panel to hold hearing on automated trading
Hearing to feature top exchange, bank officials
Senators to explore rules for high-speed trading
Sen. Reed called for review after Knight, Nasdaq glitches
Senators also expected to ask about SEC's security lapse
SEC had left sensitive data on unencrypted laptops
December 11, 2012-- A U.S. Senate banking subcommittee will hold a hearing next Tuesday to examine whether regulators should impose new rules to protect markets from glitches in a world of high-speed computerized trading.
The event will mark the latest hearing on the issue to be called by Rhode Island Democrat Jack Reed, who chairs the Senate Banking subcommittee on securities.
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Source: Reuters
Blue Chip Equity Indexes Based on Rapid Ratings Launched by S-Network
December 11, 2012--S-Network Global Indexes, LLC announced today the launch of the Rapid Ratings Blue Chip Equity Indexes: Rapid Ratings US Blue Chip Index (Ticker: RRBCUS) and Rapid Ratings International (ex-US) Blue Chip Index (Ticker: RRINTL).
The indexes cover the US and international large cap sectors and are based on the Financial Health Rating (FHR™), Rapid Ratings’ proprietary and innovative measure of risk. The FHR measures a company’s absolute and relative ability to compete with its global industry peers.
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Source: Rapid Ratings
S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices
A Deletion From The S&P/TSX Composite Index
December 10, 2012--S&P Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
The shareholders of Progress Energy Resources Corp. (TSX:PRQ) have voted to accept the terms of an arrangement agreement with PETRONAS Canada whereby the shares of Progress Energy will be acquired for cash consideration of $CDN22.00 per share.
Progress Energy will be removed from the S&P/TSX Composite and Capped Composite, the S&P/TSX Equity and Capped Equity, the S&P/TSX Completion and Equity Completion, the S&P/TSX Capped Energy, the S&P/TSX Composite Dividend and the S&P/TSX Composite Equal Weight Indices after the close of trading on Friday, December 14, 2012.
Source: S&P Index Services