Americas ETP News
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Opening Statement Regarding the Twelfth Open Meeting to Consider Final Rules Pursuant to the Dodd-Frank Act
May 10, 2012--Thank you Mr. Chairman and thank you to the rulemaking team for the hard work and diligence in crafting these rules.
We have before us today final rules relating to the Core Principles for Designated Contract Markets (DCMs). Core Principles were designed to allow DCMs the flexibility to establish compliance regimes that fit with their markets and business models. This flexible approach has been very successful. The proposed DCM Core Principle rules published in late 2010 significantly, and needlessly, strayed from the flexible approach in favor of a prescriptive, one-size-fits-all, rules-based approach. I did not, and still do not, support abandoning the flexible, principles-based approach to regulation. I am pleased, however, that in a number of areas the final rules before us today recognize the value of retaining flexibility and pull back from the overly prescriptive regime set out in the proposed rules. I understand that in a number of areas where we have established specific rules, we have codified the best practices already in place at DCMs today. While on its face this may seem reasonable, I have lingering concerns about whether codifying today’s best practices will prevent exchanges from developing tomorrow’s best practices. Our industry evolves quickly, and we are on the cusp of regulating vast markets and diverse products that we have never regulated before. We must remain vigilant to ensure that our lack of experience in these markets and with these products does not cause us to stand in the way of continued evolution and progress.
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Source: CFTC.gov
Winners Announced at the 8th Annual Global ETF Awards
Awards Given out in 20 Categories for Outstanding Achievements in the Global ETP: Industry Inaugural Nate Most Greatest Contributor to the ETF Market Award Announced
May 10, 2012--The 8th Global ETF Awards® dinner held by US based Exchangetradefunds.com was a tremendous success. ETF professionals from all over the world attended the half-day educational Workshop and Awards presentation in New York City at the Hyatt New York April 26, 2012.
The event began in the afternoon with a Workshop, which featured two sessions--the Investors Discussion Forum and the Industry Discussion Forum. Topics ranging from the evolution of ETF Products and Indexes internationally, regulatory issues currently affecting the markets, actively-managed ETFs, ETNs, ETC’s managing risk and volatility, leveraged products, and emerging markets were discussed.
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Source: Exchangetradedfunds.com
Claymore files with the SEC
May 10, 2012--Claymore has filed a post-effective amendment no. 190, registration statement with the SEC for the
Guggenheim BulletShares 2016 High Yield Corporate Bond ETF
Guggenheim BulletShares 2017 High Yield Corporate Bond ETF
Guggenheim BulletShares 2018 High Yield Corporate Bond ETF
view filing
Source: SEC.gov
Dow Jones Indexes Adds Three Size-Segment Indexes To The Dow Jones LSP Position Sizing Index Family
Series to Include U.S. Large-, Mid- , and Small-Cap Indexes
Based on LSP Partners' Proprietary Investment Strategy
Inaugural Dow Jones LSP Position Sizing Equal Sector U.S. Large-Cap 50 Index Launched in January
May 17, 2012-Dow Jones Indexes, a leading global index provider, today announced the expansion of the Dow Jones LSP Position Sizing Index family to include three new size-segment indexes:
Dow Jones LSP Position SizingU.S.Large-Cap 250 Index
Dow Jones LSP Position SizingU.S.Mid-Cap 250 Index
Dow Jones LSP Position Sizing U.S.Small-Cap 250 Index
The Dow Jones LSP Position Sizing Indexes are quantitative-strategy gauges based on a proprietary quantitative algorithm created by the risk-management-research consulting firm LSP Partners LLC.
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Source: Dow Jones Indexes
NYSE Amex LLC to be renamed NYSE MKT LLC
NYSE Amex Options market will retain its current name
May 10, 2012--
NYSE Euronext (NYX) today announced that NYSE Amex LLC, the self regulatory
organization, will be renamed NYSE MKT LLC effective May 14, 2012, subject to
SEC filing.
NYSE MKT is the premier U.S. equities market for listing and
trading of small growth companies. NYSE MKT’s associated options market will
continue to do business under the name NYSE Amex Options.
“NYSE MKT is a fully integrated trading venue within the NYSE Euronext community and the new name reinforces that fact,” said Scott Cutler, EVP and Co-Head of U.S. Listings and Cash Execution at NYSE Euronext. “The venue is dedicated to growth-oriented companies in the U.S., and we continue to enhance the platform to best meet the needs of these clients.”
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Source: NYSE Euronext
Van Eck Launches Emerging Markets High Yield Bond ETF (HYEM)
Focuses Primarily on USD-denominated Emerging Markets Corporate High-Yield Bonds
May 9, 2012--Market Vectors ETF Trust announced today that it has launched its Emerging Markets High Yield Bond ETF (NYSE Arca: HYEM), the first exchange-traded fund (ETF) designed to focus solely on the U.S. dollar (USD)-denominated non-sovereign segment of the EM high-yield bond market- a segment that has grown 265 percent since 2003, according to data from Bank of America Merrill Lynch.
HYEM seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of The BofA Merrill Lynch High Yield US Emerging Markets Liquid Corporate Plus Index (EMHY), which is comprised of U.S. dollar-denominated bonds issued by non-sovereign emerging market issuers that are rated below investment grade. In order to qualify for inclusion in the Index, an issuer must have risk exposure to countries other than members of FX G10, defined as including Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the United Kingdom and the United States, as well as all Western European countries and territories of the U.S. and Western European countries.
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Source: Van Eck
CFTC analysis nixes emergency trading curbs-sources
Analysis finds limited power to put curbs in place now
Curbs on commodities speculators due later this year
Lawmakers have pressed CFTC to act sooner over fuel prices
May 9, 2012--The U.S. futures regulator has concluded it cannot currently use its emergency authority to impose trading curbs on speculators in the oil markets, according to people familiar with a recent internal legal analysis.
The Commodity Futures Trading Commission conducted the study as it faces pressure in an election year from lawmakers to crack down as soon as possible on oil market speculation that they blame for driving up gasoline prices.
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Source: Reuters
CFTC.gov Financial Data for Futures Commission Merchants Update
May 9, 2012--Selected FCM financial data as of March 31, 2012 (from reports filed by May 1, 2012) is now available.
view updates
Source: CFTC.gov
"The Thing Is" Speech of Commissioner Bart Chilton before Americans for Financial Reform, Washington, DC
May 9, 2012-Introduction
Thank you for the introduction. I appreciate the opportunity to be with you today to discuss cost/benefit analysis (CBAs).
As we know, this has been the matter of lawsuits and countless meetings in the wake of the passage of the Wall Street Reform and Consumer Protection Act, otherwise known as Dodd-Frank. It is an important topic.
Load of Compromisin’
For me, most things that are resolved in this town result from an appropriate equilibrium. The truth or answer isn’t found on the outskirts of issues; they reside on the inside, in the medium. Most things I’ve worked upon or have seen worked upon seem to resolve themselves better when there is cooperation and compromise. That usually means some level of concession from all parties. When something is approved and everyone is grumbling a bit, that typically indicates it is legitimately worthy, in general. At least, that is what I’ve found.
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Source: CFTC.gov
NSX Introduces New Pricing Schedule and Market Data Revenue Sharing
May 9, 2012--Fee and Rebate Schedule
Updated as of May 9, 2012
The Schedule of Fees and Rebates (pursuant to Rule 16.1(a) and Rule 16.1(c)) for the National Stock Exchange, Inc. ("NSX"). Order matching computations are made on a monthly basis unless otherwise noted.
All references to “per share” mean “per share executed.”
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Source: NSX
