Americas ETP News
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U.S. CFTC eases foreign regulators' access to swaps data
October 22, 2012--The U.S. futures regulator approved a plan on Monday to make it easier for foreign regulators to access U.S. swaps data.
The Commodity Futures Trading Commission voted 3-2 to waive , under certain circumstances, a requirement that its foreign counterparts sign indemnification agreements that would make them liable for any costs arising from lawsuits over shared data.
Foreign regulators and some lawmakers have said the indemnification agreements would interfere with data sharing that is crucial for monitoring risk across the global financial system.
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Source: Reuters
Morgan Stanley-2012 ETF & CEF Tax Strategies
October 22, 2012--Exchange-Traded Fund (ETF) and Closed-End Fund (CEF) prices have generally risen over the past three years. limiting
the amount of tax swap opportunities, However, we believe
investors with unrealized losses in their portfolios could benefit
from tax-management strategies.
Tax swaps can be structured to comply with the wash sale rule.
A tax swap involving the sale of one security/fund and the
simultaneous purchase of another with similar objectives may
create losses while maintaining market exposure and may not be
subject to wash sale rules. These losses can be used to offset
realized or future gains from other holdings.
request report
Surce: Morgan Stanley
NASDAQ Indexes are the Underlying Benchmarks for Two Morningstar Award-Winning ETFs: PowerShares QQQ and the iShares NASDAQ Biotechnology Index Fund
October 22, 2012--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), parent of the world's first electronic stock market and a leading index provider, today announced that NASDAQ indexes are the benchmarks for two exchange-traded funds (ETFs)
that have won Morningstar awards for being the best ETFs for institutional investors in their respective categories.
The NASDAQ-100 Index® (Nasdaq:NDX) is the basis for PowerShares QQQ® (Nasdaq:QQQ), which Morningstar cited as the best ETF in the Large Growth category.
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Source: NASDAQ OMX
Analysis: Legg Mason's internal tensions lead to breakup talk
October 19, 2012--As Legg Mason Inc works to find a new CEO, financial industry executives say the Baltimore money manager could be a good candidate for a breakup backed by private equity, building on a trend among asset managers lately.
Thanks to missteps at several of its units during and after the financial crisis, Legg Mason's current share price around $25 is roughly one-quarter the level it hit in 2007. Former CEO Mark Fetting, who stepped down at the start of the month, already tried massive cost cutting, restructuring debt and overseeing the replacement of underperforming managers like one-time-star Bill Miller.
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Source: Reuters
WisdomTree Announces Changes to ETF Family
October 19, 2012--WisdomTree, an exchange-traded fund ("ETF") sponsor and asset manager with approximately $16.9 billion in ETF assets under management, announced today it plans to close three of its ETFs.
The designated funds represent approximately 0.15% of WisdomTree’s ETF assets.
The Board of Directors of the WisdomTree Trust approved the closures on October 17, 2012. The final day of trading on the NYSE Arca will be Monday, December 3, 2012.
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Source: WisdomTree
CFTC.Gov Commitments Of Traders Reports Update
October 19, 2012--The current reports for the week of October 16, 2012 are now available.
view updates
Source: CFTC.gov
Group pushes US House Republicans to get position limits in place
October 18, 2012--A financial reform group is pressing key US House Republicans to enact position limits in commodity markets, despite a court ruling which essentially overturned them.
In a letter sent to four Republicans on the House of Representatives' Committee on Financial Services Thursday, the group wrote that the imposition of position limits "is vital for the proper functioning of the commodities markets," and said the US Commodity Futures Trading Commission was following the intent of Congress when it attempted to put them in place this month.
"Putting aside the court's ruling, we believe there is more than adequate evidence of excessive speculation, and more than adequate evidence that market opacity and excessive speculation have been disruptive to commodity markets and diminished confidence in these markets," the Commodity Markets Oversight Coalition wrote in the letter.
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Source: Platts
S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices
A Deletion From The S&P/TSX Venture Composite Index
October 22, 2012--S&P Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
On October 18, 2012, the shareholders of Pine Cliff Energy Ltd. (TSXVN:PNE) and Geomark Exploration Ltd. (TSXVN:GME) approved the previously announced business combination whereby Pine Cliff Energy will acquire Geomark Exploration.
Geomark Exploration shareholders will receive 1.5 common share of Pine Cliff Energy for each share held. Geomark Exploration will be removed from the S&P/TSX Venture Composite Index after the close of trading on Monday, October 22, 2012.
Source: S&P Canadian Index Services
Vanguard lists 21 funds on Cofunds
Range of passive funds to be made available to 13,000 Cofunds users
October 18, 2012--Vanguard has struck a deal with Cofunds to list 21 of its funds on the platform.
The listings include Vanguard’s five multi-asset LifeStrategy funds, launched in June 2011, as well as seven single-asset passive funds and nine Ireland-domiciled portfolios.
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Source: FT.Advisor
S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices-A Deletion From The S&P/TSX Global Gold And Global Mining Indices
October 18, 2012--S&P Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
The shareholders of Avion Gold Corporation (TSX:AVR) have accepted the share exchange offer from Endeavour Mining Corporation (TSX:EDV) whereby Avion Gold shareholders will receive 0.365 shares of Endeavour Mining for each share held.
Avion Gold will be removed from the S&P/TSX Global Mining and Global Gold Indices effective after the close of Monday, October 22, 2012. At the same time, the relative weight of Endeavour Mining will increase in the same indices to reflect the issuance of the new shares.
Source: S&P Canadian Index Services
