| TDX Independence Funds files with the SEC | |||
| July 30, 2010--TDX Independence Funds has filed a post-effetive amendment, registration statement with the SEC for TDX Independence 2010 Exchange-Traded Fund (NYSE Arca, Inc. – TDD) TDX Independence 2020 Exchange-Traded Fund (NYSE Arca, Inc. – TDH) | |||
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| Huntington Asset Advisors files with the SEC | |||
| July 30, 2010--Huntington Asset Advisors has filed an amended application for exemptive relief with the SEC for actively managed ETFs. | |||
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| Global X Funds Lists Global X Brazil Financials ETF on NYSE Arca | |||
| July 29, 2010--–- NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the Global X Brazil Financials ETF (Ticker: BRAF). The ETF is sponsored by Global X Funds. | |||
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| Global Equity Index & ETF Research : Holiday calendar in full swing, another quiet week | |||
| Weekly European ETP Market Roundup July 29, 2010--Net Cash flows Major equity indices edged higher in the week that ended July 23rd 2010. The Euro Stoxx 50 index rose by 2.8%, the DAX rose by 2.1% and FTSE 100 fell by -0.5%. The price of gold (USD) continued to fall, -0.1% to the end of last week and -2.4% by July 27th. Despite generally positive market sentiment, cash flows grinded to a complete halt. Total European ETP cash flows registered at just €142 million for the past week. In addition to lingering questions about the strength of the economic recovery, the very slow cash flows mainly reflect subdued investment activity due to the European summer holiday calendar. | |||
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| Post-Crisis, China Faces Challenges of Success | |||
| Double-digit growth predicted for China
Revaluation of China currency important for rebalancing, says IMF Warnings against rising housing and asset prices July 29, 2010--China’s skillful response to the global financial crisis has blunted the worst of the downturn, but IMF economists say trade and current account surpluses must be prevented from reasserting themselves as the global economy recovers and China’s stimulus is withdrawn. | |||
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| ETFs: Fixed Income: Defined Maturity Fixed Income ETFs - A "Maturing" Investment-Morgan Stanley | |||
| July 29, 2010--The introduction of fixed income ETFs with defined maturity dates is an important evolutionary development within the ETF market. In an environment where many investors are concerned about rising rates, defined maturity ETFs, which terminate and distribute their net asset value at predetermined dates, offer a compelling alternative to traditional fixed income funds. However, they also entail additional complexities. | |||
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| MSCI to cut 70-80 jobs as it absorbs RiskMetrics | |||
| July 29, 2010--Index firm MSCI says it plans to cut around 70-80 jobs in the first round of a restructuring as it absorbs its £1.55bn acquisition of risk management and environmental social and governance (ESG) research firm RiskMetrics. | |||
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| U.S. Department of the Treasury Economic Statistics - Monthly Data Update | |||
| July 29, 2010--The U.S. Department of the Treasury Economic Statistics - Monthly Data has been updated. | |||
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| BNY Mellon Depositary Receipts 2010 Mid-Year Review is now available | |||
| July 29, 2010--Depositary Receipt Market Highlights American and global depositary receipt (DR) trading volume increased 8.3% to 78.1 billion, a record high. During the first six months of 2010, $1.84 trillion of DRs traded on U.S. and non-U.S. markets and exchanges, a record high and a 41.5% increase year-over-year. | |||
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| RiverPark Advisors, LLC files with the SEC | |||
| July 29, 2010--RiverPark Advisors, LLC has filed aa amended application for exemptive relief with the SEC for actively managed ETFs. | |||
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| FSA consults on changes to its Remuneration Code | |||
| July 29, 2010--The Financial Services Authority (FSA) today announced plans to update its Remuneration Code to take on board remuneration rules required by the Capital Requirements Directive (CRD 3) and the Financial Services Act 2010 (FS Act). | |||
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| Fitch downgrades Vietnam’s credit rating | |||
| July 29, 2010--Fitch, the credit rating agency, yesterday downgraded Vietnam’s sovereign debt, sparking rare criticism from the Asian Development Bank and other analysts who said the country’s economy was looking up | |||
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| July 2010: Business Climate Indicator for the euro area picks up | |||
| July 29, 2010--Important notice: since May 2010 business surveys data are classified in accordance with an updated version of the Nomenclature of Economic Activities (NACE rev. 2) causing a potential break in series at this date
In July, the Economic Sentiment Indicator (ESI) edged up to 102.2 (by 1.9 points) in the EU and to 101.3 (by 2.3 points) in the euro area. These results are strongly influenced by markedly positive readings in Germany. The majority of Member States reported improvements in sentiment. | |||
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| July 2010: Economic Sentiment Indicator edges up | |||
| July 29, 2010-- In July, the Economic Sentiment Indicator (ESI) edged up to 102.2 (by 1.9 points) in the EU and to 101.3 (by 2.3 points) in the euro area. These results are strongly influenced by markedly positive readings in Germany. The majority of Member States reported improvements in sentiment. Among the largest Member States, Germany registered the most significant increase (+4.0), followed by France (+2.6), Poland (+1.9) and Italy (+1.7). Improvements were less pronounced in the UK (+1.4) and the Netherlands (+1.2). In contrast, sentiment declined in Spain (-2.2). | |||
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| Global X Funds, the New York-based provider of exchange traded funds, launched today the Global X Brazil Financials ETF (ticker: BRAF). This is the first ETF to offer targeted access to the rapidly growing Brazilian financial sector. | |||
| July 29, 2010-Global X Funds, the New York-based provider of exchange traded funds, launched today the Global X Brazil Financials ETF (ticker: BRAF). This is the first ETF to offer targeted access to the rapidly growing Brazilian financial sector.
The Global X Brazil Financials ETF tracks the Solactive Brazil Financials Index, which is designed to track the performance of the Brazilian financial sector. As of July 20, 2010, the largest index components were banks Itau Unibanco, Banco Bradesco and Banco do Brasil. | |||
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| Exchange Traded Funds See Strong Asset Inflows in First Half of 2010, According to State Street Global Advisors | |||
| July 29, 2010--Exchange traded fund (ETF) industry assets in the United States decreased 0.4 percent during the first half of 2010, as investors held $772 billion in 897 ETFs as of June 30, 2010, according to State Street Global Advisors (SSgA), the investment management business of State Street Corporation (NYSE: STT [FREE Stock Trend Analysis]). During the same period, equity markets, as measured by the widely followed S&P 500 Index fell, 8.9 percent. | |||
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| Billionaire European family to launch asset management business | |||
| July 29, 2010--The Bertarellis, one of the world's wealthiest families, are to build a global asset management franchise and have hired a senior BNY Mellon banker to run it. | |||
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| BNY Mellon Asset Servicing Becomes First Service Provider to Support ETF Short Positions | |||
| Provides ETF Services for Actively Managed Mars Hill Global Relative Value ETF July 29, 2010-- BNY Mellon Asset Servicing, the global leader in securities servicing, became the first service provider to support short positions in an exchange-traded fund (ETF) after being selected to provide ETF services, custody, fund accounting and fund administration for the Mars Hill Global Relative Value ETF (NYSE: GRV), the first actively managed ETF to pursue a long-short equity strategy. | |||
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| Long Euro ETC rallies as Eurozone sentiment continues to improve | |||
| July 29, 2010--ETFS Long EUR Short USD has risen by over five per cent over the past month, buoyed by the positive results from the European Commission’s stress tests for the banking system, according to ETF Securities. | |||
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| CME Group Inc. Reports Solid Second-Quarter 2010 Financial Results | |||
| July 29, 2010--CME Group Inc. (Nasdaq: CME) today reported that second-quarter total revenues increased 26 percent to $814 million and operating income increased 29 percent to $515 million from the year-ago period. Second-quarter 2010 operating margin was 63 percent, up from 62 percent in second-quarter 2009. Operating margin is defined as operating income as a percentage of total revenues. | |||
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| CESR proposes changes to MiFID to improve securities markets’ functioning, transparency and investor protection | |||
| July 29, 2010--CESR publishes today the first set of technical advice to the European Commission (Commission) in the context of reviewing MiFID, the Markets in Financial Instruments Directive, which entered into force in November 2007. This covers CESR?s advice on equity markets (Ref. CESR/10-802), non-equity markets transparency (Ref. CESR/10-799), transaction reporting (Ref. CESR/10-808) and investor protection and intermediaries (Ref. CESR/10-859) as well as part of the responses (Ref. CESR/10-860) to the request for additional information in relation to the review of MiFID that the Commission presented to CESR in March 2010. | |||
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| CME Group Gold Futures Reach Record Volume | |||
| July 29, 2010-- CME Group, the world’s leading and most diverse derivatives marketplace, had record volume yesterday in its COMEX gold futures contract of 424,316 contracts. The prior record was 409,842 on May 25, 2010. | |||
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| CFTC Adopts Amendment Regarding the Operation of a Commodity Broker in Bankruptcy | |||
| July 29, 2010-- The Commodity Futures Trading Commission (CFTC) today announced that it adopted an amendment to its regulations regarding the operation of a commodity broker in bankruptcy. Under appropriate circumstances, as determined by the Commission, the amendment would permit the trustee of a commodity broker in bankruptcy to operate the business of such commodity broker in the ordinary course, including entering into new commodity contracts on behalf of customers. | |||
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| Dubai Investments Q2 profit drops 32% | |||
| July 28, 2010--Dubai Investments, the largest investment company listed on the Dubai Financial Market, reported a 32% decline in second-quarter profit as investment income dropped. Net income fell to Dhs196.3m ($53m) from Dhs287m a year earlier, the company said in a statement. Income from sale of goods and services fell 1.8% to Dhs309.4m, while contract revenue rose 30% to Dhs213.8m. | |||
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| Global Equity Index & ETF Research -- US Weekly ETP Market Review | |||
| July 28, 2010-New Listings and Delistings There were 3 new listings in the previous week, all of them listed on NYSE Arca. AdvisorShares launched an active ETF seeking long term capital appreciation with exposure to the international markets. Global X Management Co LLC listed the first ETF focusing on Lithium; the ETF will seek to achieve its objective by investing in companies involved in the Lithium industry. Last but not least, Van Eck Funds listed a fixed income ETF offering access to Emerging Market Sovereign Debt in local currency | |||
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| ETF Landscape: STOXX Europe 600 Sector ETF Net Flows, week ending 23-Jul-10 | |||
| July 28, 2010--Last week saw US$226.7 Mn net inflows to STOXX Europe 600 sector ETFs. The largest sector ETF inflows last week were in Industrial Goods & Services with US$103.0 Mn and Utilities with US$50.0 Mn while Banks experienced net outflows of US$87.2 Mn. | |||
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| European institutional investors growing in confidence | |||
| July 28, 2010-- Institutional investors in Europe grew slightly more confident in June, according to State Street's latest Investor Confidence index.
In Europe, investor confidence increase by 5.4 points from 92.3 to 97.7, while in Asia confidence rose by 1.7 points from 100.9 to 102.6. | |||
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| KRX to list Mini Gold Futures on September 13, 2010 | |||
| July 28, 2010--Taking into consideration the time required for the member companies to develop or upgrade their system, the Korea Exchange (“KRX”) decided to launch the trading of Mini Gold Futures, the first mini-sized futures contract in Korea, on September 13, 2010.
Trading unit of Mini Gold Futures is 100g of refined gold with purity of 99.99%. Trading hours is 09:00~15:15 from Monday to Friday and the same hours applies on the last trading day. | |||
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| India's National Stock Exchange and London Stock Exchange Group sign Letter of Intent | |||
| July 28, 2010--Agreement to explore feasibility of mutual licensing of indices, enabling access to each other’s markets Training and education on SME markets London Stock Exchange Group (LSEG) and India’s National Stock Exchange (NSE) today signed a Letter of Intent to evaluate joint strategic business opportunities, and to co-operate together more closely in the future. | |||
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| CBOE's Brodsky Says Options Exchange Can Expand Without a Merger Partner | |||
| July 28, 2010--CBOE Holdings Inc., operator of the largest U.S. options exchange that went public last month, has no need for a merger partner, Chief Executive Officer William Brodsky said.
“We’re not in need of someone else’s money,” Brodsky said in a July 26 interview. “We’ve shown we can run ourselves as an independent company, be profitable and produce a lot of cash. Other exchanges were new at managing themselves as for-profit companies” when they made initial public offerings, he said. Chicago-based CBOE has been a for-profit exchange since 2006. | |||
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| WisdomTree Announces Second Quarter 2010 Results | |||
| Company reports positive proforma operating income
$121 million net inflows for the second quarter 21 out of 34 equity funds outperformed competitive benchmarks since inception through Q2 July 28, 2010--WisdomTree, an exchange-traded fund (“ETF”) sponsor and asset manager, today reported a GAAP net loss of $1.9 million in the second quarter of 2010, as compared to $3.6 million for the first quarter of 2010. Proforma operating income, which excludes stock-based compensation, depreciation and amortization, and interest and investment income, was $0.2 million in the second quarter, as compared to a proforma operating loss of $1.0 million in the first quarter. | |||
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| Horizons AlphaPro Launches Canada's First Actively Managed Balanced ETF | |||
| July 28, 2010-- AlphaPro Management Inc. ("AlphaPro"), the manager of the Horizons AlphaPro Exchange Traded Funds ("ETFs"), is pleased to announce the launch of the Horizons AlphaPro Balanced ETF (the "Balanced ETF"). The Balanced ETF will begin trading today on the Toronto Stock Exchange under the symbol HAA. | |||
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| IMF gives ground on yuan exchange rate debate | |||
| July 28, 2010--The International Monetary Fund has chosen not to call the yuan “substantially” undervalued, a move that recognizes China’s efforts to free up its exchange rate and avoids friction with an increasingly influential shareholder. | |||
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| United States Commodity Funds files with the SEC | |||
| July 27, 2010--United States Commodity Funds has filed an amendment to Form S-1. | |||
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| BP Oil Spill Has Potentially Large Implications for Oil Prices and Alternative Energy, Says ETF Securities | |||
| July 28, 2010--The BP oil spill in the Gulf of Mexico has potentially large implications for the energy sector with the cost of the spill being estimated at US$32.2 billion. With current International Energy Agency (IEA) estimates putting offshore production at around half of oil production towards 2015, and if the US tightens regulations on offshore oil drilling and other countries follow suit, the implications for longer-dated oil prices and the alternative energy sector could be significant. | |||
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| The Beige Book | |||
| July 28, 2010--Summary Economic activity has continued to increase, on balance, since the previous survey, although the Cleveland and Kansas City Districts reported that the level of economic activity generally held steady. Among those Districts reporting improvements in economic activity, a number of them noted that the increases were modest, and two Districts, Atlanta and Chicago, said that the pace of economic activity had slowed recently | |||
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| Banks plan for loss of eurozone member | |||
| July 28, 2010--Banks have started early-stage planning to deal with the potential fallout on the derivatives and bond markets of a European country being forced to leave the euro. | |||
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| Credit Suisse issues new hybrid bonds | |||
| July 28, 2010--Banks’ old-style hybrid capital is to make a high-profile return as finance directors take a bullish line on the likelihood that regulators will continue to allow these controversial bonds to count towards top-notch tier one capital. | |||
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| SA inflation lower than expected | |||
| July 28, 2010-- The increase in South Africa's consumer price index (CPI), which is used by the Reserve Bank for its inflation target, was 4.2% year-on-year in June, down from 4.6% in May, Statistics SA said on Wednesday | |||
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| CESR publishes its report on trends, risks and vulnerabilities in financial markets | |||
| July 28, 2010--CESR publishes today for the first time its report on trends risks, and vulnerabilities that are directly relevant to securities markets regulators (Ref. CESR/10-697). Previously, similar reports have been produced for the benefit of the Economic and Financial Committee (EFC) and the Financial Services Committee (FSC). | |||
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| CESR sets out final guidelines on risk measurement and the calculation of global exposure and counterparty risk for UCITS | |||
| July 28, 2010--CESR publishes today guidelines (Ref. CESR/10-788) on risk measurement and the calculation of global exposure and counterparty risk for Undertakings for Collective Investments in Transferable Securities (UCITS) and a feedback statement (Ref. CESR/10-798). The key purpose of CESR’s guidelines is to provide both regulators and companies managing UCITS with detailed methodologies to calculate the global exposure and counterparty risk for UCITS, whilst at the same time, fostering a level-playing-field in the area of risk measurement among EU Member States. CESR’s guidelines are to accompany the Level 2 implementing measures of the UCITS Directive. This Directive will become applicable from 1 July 2011. | |||
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| July 2010 “Market’s Measure” Preliminary Report - A Monthly Report From Dow Jones Indexes On The Performance Of U.S., European, Asia And Other Global Stock Market Indexes | |||
| July 28, 2010-- * Dow Jones Industrial Average Posts 7.81% Gain in July, European Stocks Gain 12.42%, Asia Rises 5.06% and World Equities Rise by 8.36%
Financials Sector Posts Biggest Gain for July in Europe Health Care Sector Posts Narrowest Gain for July in U.S, Europe, Asia & Worldwide | |||
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| Yemen currency hits record low | |||
| July 28, 2010--Mohammed Awad bin Hamam, governor of Yemen's central bank, has said that injecting more cash in the exchange market is possible after an $80m injection failed to raise the country's rial currency, Reuters has reported. | |||
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| Kuwait inflation holds steady | |||
| July 28, 2010--According to figures by Kuwait's central bank, the Gulf state posted annual inflation of 2.8% in April, in line with levels since the start of the year as food and transport costs remained steady, Reuters has reported. | |||
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| BlackRock ETF Landscape Industry Review Q2 2010 | |||
| July 27, 2010--At the end of Q2 2010 the global ETF industry had 2,252 ETFs with 4,637 listings, assets of US$1,025.9 Bn from 130 providers on 42 exchanges around the world. | |||
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| Gold and silver ETCs with currency hedging from DB ETC Index plc launched on Xetra | |||
| July 27, 2010--Two new exchange traded commodities issued by DB ETC Index plc, the ETC platform of Deutsche Bank, are tradable on Xetra.
The two new db ETCs enable investment in exchange traded commodities on gold and silver with currency protection for the first time. All db ETCs are backed by physically deposited gold bars in allocated form. | |||
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| U.S. International Reserve Position | |||
| July 27, 2010--The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $128,279 million as of the end of that week, compared to $128,602 million as of the end of the prior week. | |||
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| NASDAQ OMX To Acquire World-Leading Market Surveillance System Provider SMARTS | |||
| July 27, 2010--The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) has signed an agreement to acquire SMARTS Group, the world-leading technology provider of market surveillance solutions to exchanges, regulators and brokers. This acquisition is part of NASDAQ OMX’s strategy to diversify its commercial technology business and enter the broker surveillance and compliance market. SMARTS will be part of the NASDAQ OMX Market Technology business, which delivers technology to over 70 marketplaces in more than 50 countries. | |||
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| New Supervisory Board Chairperson elected for the Stuttgart Stock Exchange | |||
| Thomas Munz is the new Supervisory Board Chairperson at the Stuttgart Stock Exchange, Dr Michael Völter elected as Deputy Chairperson July 27, 2010--Following the reshuffle of the Supervisory Board members at the Stuttgart Stock Exchange, a new chairperson has now been elected to head the various Supervisory Boards: Thomas Munz, Chairperson of the association Vereinigung Baden-Wuerttembergische Wertpapierboerse e.V., has been unanimously elected as the Chairperson of the Supervisory Boards of Boerse Stuttgart Holding GmbH, Boerse Stuttgart AG and Euwax AG. Dr Michael Völter, Member of the Management Board of SV Sparkassen Versicherung Holding AG, has been elected as Deputy Chairperson of the boards. | |||
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| Progress Software Survey Says: Over 50% of Capital Markets Firms Do Not Use Real Time Market Surveillance and Monitoring Tools | |||
| July 27, 2010--Progress Software Corporation, a leading independent enterprise software provider that enables companies to be operationally responsive, today announced the results of its high frequency trading and market surveillance survey conducted at the recent SIFMA Financial Services Technology Expo 2010 in New York. More than 125 respondents from buy and sell-side firms provided their input on current high frequency trading (HFT) practices with 83 percent agreeing that increased transparency is needed to effectively deal with market abuse and irregular market activity, like the May 6 "flash crash." However, only 53 percent of firms surveyed currently have real-time monitoring systems in place. | |||
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| Morningstar Commodities Bulletin--2Q 2010 | |||
| July 27, 2010--Performance Roundup Volatility returned to the commodity markets with a vengeance in the second quarter. While most commodities saw an upswing the in the first half of the quarter, a bleak global economic outlook led to a precipitous drop in May and early June. The Morningstar Long-Only Commodity Index recorded moderate gains in April and June (3.6% and 1.2%, respectively) to no avail due to a 7.4% decrease in May. The index ended down 2.9% on the quarter, decreasing for the second straight quarter. | |||
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| db ETC listet weltweit erste physische Edelmetall-ETCs mit Währungssicherung | |||
| 27. Juli 2010--Gestern hat db ETC zwei währungsgeschützte Edelmetall ETCs auf Gold und Silber an der Deutschen Börse gelistet. db ETC ist die Plattform der Deutschen Bank für börsengehandelte Rohstoffprodukte (Exchange Traded Commodities – ETC) in Form von besicherten Schuldverschreibungen mit Barabwicklung. Stark vereinfacht dargestellt erfolgt eine Besicherung der db Physical PM ETC Wertpapiere durch Barren des jeweiligen Edelmetalls, die physisch eingelagert werden. | |||
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| U Investment Grade Corporates Lead Switch from Bank to Bond Funding | |||
| Structural Shift to Bonds from Loans to Continue July 27, 2010--European corporates are increasingly embracing funding disintermediation by substituting bonds for bank debt, and Fitch Ratings believes structural factors will accelerate the use of this asset class over the next two to three years. The loan market is a key determinant of the extent of bond growth — should lending remain at the subdued levels of the last couple of years, pressure would potentially be exerted to refinance substantial additional corporate debt via the bond markets. | |||
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| Deutsche Börse AG: Rise in Sales Revenue in Q2/2010 | |||
| Sales revenue up 9 percent to €564.4 million Increase in EBIT to €257.4 million despite restructuring expenses; adjusted EBIT up 36 percent year-on-year to €338.4 million July 27, 2010-Deutsche Börse Group presented its results for the second quarter of 2010 on Tuesday. Following a stable first quarter, the Company recorded significant growth in sales revenue and earnings in Q2. Sales revenue rose by 9 percent year-on-year to €564.4 million. Total costs in the second quarter of 2010 amounted to €356.0 million. Adjusted for restructuring expenses of €82.0 million for the measures to increase operating efficiency, costs amounted to €274.0 million and were down significantly on the level recorded in 2009. | |||
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| Goldman Sachs Announces Clearing Services For OTC Derivatives - New Derivatives Clearing Services (DCS) Business To Provide Suite Of Integrated Agency Clearing Services For All Listed And OTC Derivatives | |||
| New Derivatives Clearing Services (DCS) business to provide suite of integrated agency clearing services for all listed and OTC derivatives July 27, 2010--Goldman Sachs announced today the launch of its Derivatives Clearing Services (DCS) business. DCS provides clients with a comprehensive global OTC clearing service for interest rates, credit, foreign exchange, equities and commodities. | |||
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| IMKB hits in-session historic high | |||
| July 27, 2010--The Istanbul Stock Exchange (IMKB) broke a new record yesterday, hitting 60,631 for the first time in its history in the first session of trading. | |||
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| India raises interest rates, more tightening seen | |||
| July 27, 2010--India’s central bank raised interest rates more forcefully than expected on Tuesday to fight inflation that is on track to hit double digits for a sixth straight month, setting the stage for more policy tightening. | |||
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| SEC Chairman Schapiro Announces Open Process for Regulatory Reform Rulemaking | |||
| July 27, 2010--Securities and Exchange Commission Chairman Mary L. Schapiro today announced that the agency is making it easier for the public to provide comments as the agency sets out to make rules required under the Dodd-Frank Wall Street Reform and Consumer Protection Act. | |||
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| SEC Publishes Public Request for Comment to Inform Study of Obligations of Broker-Dealers and Investment Advisers | |||
| July 27, 2010-- The Securities and Exchange Commission today published a request for public comment to inform its study of the obligations and standards of care of broker-dealers and investment advisers providing personalized investment advice about securities to retail investors. | |||
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| Knight Capital Group Announces Acquisition of Astor Asset Management | |||
| Acquisition totaling approximately $20 million will add asset management capabilities to Knight's offering July 27, 2010--Knight Capital Group, Inc. (NYSE: KCG) today announced that it has agreed to acquire Astor Asset Management, LLC, a money management firm specializing in macro-economic strategy and ETF portfolio construction, for approximately $20 million in cash and stock, based on assets under management at the close. | |||
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| Government invites views on tax policies | |||
| July 27, 2010--Today the Exchequer Secretary to the Treasury, David Gauke MP has published nine documents for discussion and consultation relating to tax, following commitments made at the June Budget.
This will provide businesses, tax professionals and other interested parties with a more comprehensive view and the opportunity to comment on the Government's proposed tax reforms. | |||
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| Deutsche Bank beats expectations | |||
| July 27, 2010--Deutsche Bank on Tuesday reported net income of €1.2bn for the second quarter, slightly beating expectations after a tough period for the trading that it and other investment banks depend upon. | |||
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| India plans tough stress tests of banks | |||
| July 27, 2010--India plans to start conducting twice-yearly stress tests on its banks, following in the footsteps of financial regulators in the US and Europe. | |||
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| Funds shun UK index-linked bond | |||
| July 27, 2010--The world’s two biggest bond fund managers shunned the sale of UK inflation-linked bonds amid worries about the shake-up of pension rules.
BlackRock, the world’s largest fund manager, said publicly it was not a buyer of the bonds partly because of fresh rules that will change the inflation measure that dictates future increases in private pension payments in the UK | |||
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| Europe clears world's biggest airline merger | |||
| July 27, 2010--Europe on Tuesday cleared a merger between US carriers United and Continental that will create the world's biggest airline, with the companies now racing to secure US approval. | |||
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| First Domestic NASDAQ-100 Index ETF Available in Japan | |||
| NEXT FUNDS NASDAQ-100(R) EXCHANGE TRADED FUND Will be Listed on the Osaka Securities Exchange ETF Market July 27, 2010--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and the Osaka Securities Exchange Co., Ltd. (OSE), the premier Japanese derivatives and securities exchange, today announced that the first domestic exchange-traded fund (ETF) based on the NASDAQ-100 Index® will soon be available to Japanese investors. The OSE has approved the listing of the NEXT FUNDS NASDAQ-100® EXCHANGE TRADED FUND (OSE:1545) on OSE's exchange-traded fund market. Nomura Asset Management Co., Ltd., one of Japan's largest asset management companies and a wholly-owned subsidiary of Nomura Holdings, Inc., is the sponsor of the ETF. | |||
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| Brazil Financials ETF to Trade in New York, Global X Says | |||
| July 27, 2010--The first Brazilian exchange-traded fund tracking financial shares will begin trading in New York on July 29, said the chief executive officer of Global X Management Company LLC, the asset manager overseeing the fund. | |||
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| Global X Funds Post Record Trading Volumes | |||
| July 27, 2010--Global X Funds Lithium ETF traded more than 450,000 shares on its opening day Friday, July 23, 2010, making it one of the most successful ETF launches this year. Other Global X ETFs posted significant volumes on the same day, including Global X China Consumer ETF (CHIQ) which hit a record volume of over a million shares. | |||
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| Yemen wants to raise prices to Korea Gas | |||
| July 27, 2010--The Yemeni foreign minister has said the government is seeking to increase the prices at which Yemen LNG has contracted to sell liquefied natural gas to one of its shareholders, Korea Gas Corp, Bloomberg has reported. | |||
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| Kuwait Finance House launches e-trading hall for women | |||
| July 27, 2010--Kuwait Finance House "KFH" has announced starting the special arrangements for the establishment of a special trading hall for its female clients to help them trade electronically in the Kuwaiti Stock Exchange as the first local bank taking the initiative towards this achievement. | |||
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| BFX Announces Key Index Products | |||
| Region’s first multi?asset exchange licensed by FTSE Group to list and trade a range of derivatives based
on its indices July 27, 2010-The Bahrain Financial Exchange (BFX), the first multi?asset exchange in the Middle East and North Africa (MENA) region, today announced a new licensing agreement with FTSE roup, the award?winning global index provider, to list, trade and market a number of derivatives products based on a range of FTSE’s regional and international indices. | |||
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| July 2010 “Islamic Market’s Measure” Preliminary Report - Monthly Report On The Performance Of The Dow Jones Islamic Market Indexes | |||
| Based on the close of trading on July 26, the global Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shari’ah compliant stocks globally, gained 7.45% month-to-date, closing at 1972.62. In comparison, the Dow Jones Global Titans 50 Index, which measures the 50 biggest companies worldwide, posted a gain of 7.87%, closing at 159.24. | |||
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| NASDAQ OMX Reports Strong Second Quarter 2010 Results | |||
| Non-GAAP Diluted EPS Increased 21% to $0.52 (GAAP Diluted EPS $0.46)
Announces an Additional $100 Million for Share Repurchase Program July 27, 2010--The NASDAQ OMX Group, Inc. ("NASDAQ OMX®") (Nasdaq:NDAQ) reported strong results for second quarter of 2010. Net income attributable to NASDAQ OMX for the second quarter of 2010 was $96 million, or $0.46 per diluted share, compared with $61 million, or $0.28 per diluted share, in the first quarter of 2010, and $69 million, or $0.33 per diluted share, in the second quarter of 2009. Included in the second quarter of 2010 results are $16 million of charges related to the divestiture of businesses, expenses associated with severance, merger and strategic initiatives, and other non-recurring items. | |||
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| MSCI and the RiskMetrics branding mystery | |||
| July 27, 2010--The company isn’t saying much, but it seems that a rebranding on the ESG side could be underway at MSCI’s recently acquired RiskMetrics division, which could jettison the RiskMetrics brand. | |||
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| DB Index Research -- Weekly ETF Market Review -- Asia-Pacific | |||
| July 26, 2010--Market Overview There are 226 equity based ETFs in the Asia Pacific region with 318 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 39.31% of the whole market, whilst Hong Kong has the largest market share by turnover with 33.78%. Blackrock listed two sector ETFs tracking the Chinese A-Share Market Consumer Staples and Consumer Discretionary sectors. Both funds are listed on the Hong Kong Stock Exchange | |||
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| Emerging Markets Week in Review -7/19/2010 - 7/23/2010 | |||
| July 26, 2010--The Dow Jones Emerging Markets Sector Titans Composite Index climbed 3.65% as all sectors were positive for the week. | |||
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| Tehran Exchange Trades Futures to Attract Investors | |||
| July 26, 2010--The Tehran Stock Exchange, home of the world’s second-best performing equity index, began offering derivatives based on local banks to diversify and attract foreign investors. | |||
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| WisdomTree India Earnings Fund (EPI) Passes $1 Billion In Assets Under Management | |||
| July 26, 2010--WisdomTree an exchange-traded fund (“ETF”) sponsor and asset manager, announced today that the WisdomTree India Earnings Fund (EPI) surpassed $1 billion in assets under management (AUM), as of July 21, 2010. | |||
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| Release of the “Discussion Paper Regarding the Extension of Trading Hours” | |||
| July 26, 2010--Today, Tokyo Stock Exchange, Inc. (TSE) released the “Discussion Paper Regarding the Extension of Trading Hours”.
TSE is engaged in initiatives to improve the convenience and reliability of the market, in order to better support the wealth-building of all people according to their varying life plans and become a vibrant destination for international investment assets (risk money). | |||
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| Exchange-Traded Funds: US ETF Weekly Update-Morgan Stanley | |||
| June 26, 2010--Highlights Weekly Flows: $3.8 Billion Net Inflows ETFsTraded $352 Billion Last Week Launches: 3 New ETFs ETFs had net cash inflows of $3.8 blnlast; 3rdweek in a row of net inflows | |||
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| Fundamentals: The Style Roulette | |||
| July 26, 2010--Suppose we had perfect foresight and could determine whether the market was going to be biased toward value or growth every year. If so, we could make tactical bets instead of just splitting our equities evenly between the two styles. How much in excess return would we earn? In the real world, how much of that return is picked up by Fundamental Index® strategies? The answers are surprising. | |||
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| FTSE and CNBC create new index series for Asia Pacific | |||
| July 26, 2010--FTSE Group, the award winning global index provider and CNBC, recognised global leader in business news, today announced the creation of a new index series to track the performance of the 100 largest companies in Asia Pacific.
The FTSE CNBC Asia 100 Index calculated using FTSE’s renowned global index standards, will feature on CNBC news programmes giving investors a unique insight into the blue chip investable Asian market. The new index can also be licensed as the basis for Exchange Traded Funds (ETFs), structured products, derivatives or as a performance benchmark. | |||
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| Boerse Stuttgart launches Smartphone application | |||
| June 26, 2010--The Stuttgart Stock Exchange is now offering yet another service for private investors. With Boerse Stuttgart Mobil investors can access the same detailed information on their smartphones as they do on the website.
The new application allows investors to access their watch lists and portfolios in real time with their mobile terminals. | |||
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| NASDAQ Dubai Monthly Trading Report: June 2010 | |||
| July 26, 2010--The value of equities traded on NASDAQ Dubai rose by 52% in the first six months of 2010 to 728 million dollars, from 479 million dollars in the same period of 2009. Equities volumes fell by 10% to 1.58 billion shares in the same period, from 1.75 billion.
Measured by percentage change, both the value and volume figures were the best performing of any UAE stock exchange in the six-month period, compared to the same period in 2009. | |||
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| Information on the Central Repository for Credit Rating Agencies applying for registration in the European Union | |||
| July 26, 2010--The EU Regulation on Credit Rating Agencies (EC 1060/2009) requires credit rating agencies (CRAs) to provide information on their historical performance data and CESR to make this information accessible to the public by establishing a central repository (named CEREP). | |||
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| Dow Jones Indexes Enhances Index Methodology | |||
| July 26, 2010--Dow Jones Indexes, a leading global index provider, today announced enhancements to the methodology of the Dow Jones Global and U.S. Total Stock Market indexes as well as the Dow Jones Global Index. | |||
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| ETFS Securities-Commodities Review H1 2010 | |||
| July 26, 2010--Highlights of Report The precious metals sector was the best performing commodity sector in H1 2010, rallying 13% as most other key asset classes succumbed to sovereign risk and growth concerns. Gold was the strongest performer rising 14% in US dollars, 34% in Euro and 23% in Sterling continuing its run as one of the best performing assets over the past ten years. This compares to a 14% decline in the FTSE 100 Index and a 20% decline in the EuroStoxx 50 index in USD over the period1. | |||
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| TABB Group Sees Low-Touch Order Channels Accounting for 62% of Buy Side Firms’ Options Trading by 2011 | |||
| Evolving Market Structure and Complexity Drive Adoption of Trading System Technology
Options Algorithms to Represent 28% of Total Trading by 2011 July 26, 2010-- The increasingly complex options markets is resulting in growing demand for tools and systems that can help make options trading more efficient, especially as traders are continue to adopt sophisticated trading strategies, says TABB Group in a new annual research study, “US Electronic Options Trading 2010: Algorithms, DMA and Crossing Networks.” The proportion of order flow moving through low-touch channels is projected to rise to 62% by 2011, as options traders turn to electronic trading systems to manage order flow. | |||
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| July 2010 Monthly Preliminary Performance Report Dow Jones-UBS Commodity Indexes | |||
| July 26, 2010--The Dow Jones-UBS Commodity Index was up 3.30% for the month of July. The Dow Jones-UBS Single Commodity Indexes for Wheat, Sugar and Lead had the strongest gains with month-to-date returns of 24.15%, 13.70%, and 12.83%, respectively. The three most significant downside performing single commodity indexes were Gold, Silver and Natural Gas, which were down -4.67%, -3.24%, and -1.91% respectively, in July. | |||
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| NASDAQ Announces Mid-month Open Short Interest Positions In NASDAQ Stocks As Of Settlement Date July 15, 2010 | |||
| July 26, 2010--At the end of the settlement date of July 15, 2010, short interest in 2,410 NASDAQ Global Market(SM)securities totaled 7,097,589,765 shares compared with 7,040,374,238 shares in 2,417 Global Market issues reported for the prior settlement date of June 30, 2010. The mid-July short interest represents 2.98 days average daily NASDAQ Global Market share volume for the reporting period, compared with 3.67 days for the prior reporting period. | |||
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| CEOs Of Small And Medium Enterprises Are More Optimistic About Growth Prospects Than Heads Of Larger Companies, According To The Annual NYSE Euronext CEO Report | |||
| CEOs of SMEs with less than $500 million in revenue are more optimistic about current growth prospects than those of larger companies July 26, 2010--CEOs expect to increase their budgets in all aspects of their businesses --Investors are showing renewed interest in companies Chief executives of companies with less than $500 million in revenue listed on NYSE Euronext exchanges are the most bullish about their growth prospects through 2011, according to the newly released NYSE Euronext CEO Report. | |||
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| Consumer confidence shows a slowing down in pace of recovery for the first half of 2010 | |||
| July 26, 2010--Consumer confidence in the OECD area has levelled out since January 2010, possibly announcing a new peak or maybe just indicating uncertainty in the coming months. Confidence levels remain historically low, a result of the financial crisis and indicating that the effects of the crisis are continuing to be felt by consumers who remain pessimistic about the future. | |||
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| SGX, STOXX and Eurex to bring EURO STOXX 50 Futures to Asia | |||
| July 26, 2010--Singapore Exchange (SGX) and Eurex, Europe’s largest derivatives exchange, announced today that they are partnering to launch the SGX EURO STOXX 50 Index futures and options on futures for the first time in Asia. The partnership is based on a license agreement between the global index provider STOXX Limited and SGX.
SGX will list U.S.-dollar denominated EURO STOXX 50 Index futures and options on futures in the second half of 2010, subject to Monetary Authority of Singapore approval. SGX and Eurex will jointly market and promote the U.S.-dollar based contracts as part of the collaboration efforts between the two exchanges. | |||
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| Financial Secretary to the Treasury launches consultation on the implementation of financial regulation reforms announced at Mansion House | |||
| July 26, 2010--Financial Secretary to the Treasury, Mark Hoban MP, today launched the Government’s consultation on the implementation of reforms to financial regulation.
The document sets out detailed proposals for reform of the financial services sector, first announced by the Chancellor in his Mansion House speech on 16th June 2010. | |||
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| The Group of Governors and Heads of Supervision reach broad agreement on Basel Committee capital and liquidity reform package | |||
| July 26, 2010--The Group of Governors and Heads of Supervision, the oversight body of the Basel Committee on Banking Supervision, met on 26 July 2010 to review the Basel Committee's capital and liquidity reform package. Governors and Heads of Supervision are deeply committed to increase the quality, quantity, and international consistency of capital, to strengthen liquidity standards, to discourage excessive leverage and risk taking, and reduce procyclicality. | |||
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| German banks did not reveal full debt details: report | |||
| July 26, 2010--European banking regulators say six German banks did not reveal full details of sovereign debt holdings as part of a key test of the sector's health, the Financial Times reported on Monday. | |||
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| As popularity of ETF products grows so does the need for more sophisticated trading tools. In recognition of this, Bank of America Merrill Lynch today unveiled its premium algorithm, ETF-aX. This new ETF-specific algorithm analyzes market depth and price | |||
| July 26, 2010--As popularity of ETF products grows so does the need for more sophisticated trading tools. In recognition of this, Bank of America Merrill Lynch today unveiled its premium algorithm, ETF-aX. This new ETF-specific algorithm analyzes market depth and price data across an ETF's underlying portfolio to identify the most efficient combination of ETF, stock, and futures and then automatically trades them to source liquidity and find the best prices. | |||
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| CFTC Designates Green Exchange, LLC as a Contract Market | |||
| July 26, 2010--The Commodity Futures Trading Commission (CFTC) yesterday approved the application of Green Exchange, LLC (“GreenEx”) for designation as a contract market. GreenEx is organized as a Delaware Limited Liability company and is a wholly-owned subsidiary of Green Exchange Holdings, LLC (“GreenEx Holdings”). | |||
| read more | |||
| Saudi construction sector to total 10% of real GDP | |||
| July 26, 2010--Saudi Arabia's National Commercial Bank (NCB) has said that increased government investments are expected to drive the expansion of the non-oil GDP growth of the kingdom's construction sector to an all-time high of 10.41% by the end of this year, Zawya Dow Jones has reported. | |||
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| Tadawul market weakens 0.2% | |||
| July 25, 2010--The Saudi Arabian stock market could not sustain its positive momentum from Saturday, as WTI oil prices may head lower later this week, possibly moving back toward $77, research firm CPM Group says. Petrochemical leader Sabic ended flat at $88.25. | |||
| read more | |||
| Tadawul market starts the week positively | |||
| July 25, 2010--GGC market, opening trading the week on Sunday, received positive inputs from the Saudi Arabian stock market Tadawul, which starts trading on Saturday. Its main index Tasi advanced 1.6% to 6,187.39 points, thanks to rising energy, petrochemical and insurance shares. Shares of Zamil Industrial Investment Co. (Zamil Industrial) surged 2.55%, ending at SR44.20. | |||
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| UK considers single powerful corporate governance watchdog | |||
| July 26, 2010-The UK government is considering creating a single “powerful” new corporate governance regulator which would supervise corporate governance, company disclosure and institutional shareholders’ stewardship of companies. | |||
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| Dubai Gold And Commodities Exchange Weekly Views-July 25, 2010 | |||
| July 25, 2010--Commodities Overview Most commodities prices rallied last week as investor sentiment shifted toward a more positive tone over economic conditions. Recovering equity values provided a boost to most commodities along with better than expected economic data for Europe. Although there is the expectation that economic activity in Europe will improve in the months ahead, concerns remain over still fragile conditions there. | |||
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| Claymore files with the SEC | |||
| July 26, 2010--Claymore has filed a post-effective amendment, registration statement with the SEC for Guggenheim Enhanced Core Bond ETF Ticker Symbol: GIY Guggenheim Enhanced Ultra-Short Bond ETF Ticker Symbol: GSY | |||
| read more | |||
| New Lithium ETF Powers the Green Movement | |||
| July 23, 2010--July 23, 2010 - Global X Funds, the New York-based provider of exchange-traded funds, launched today the world’s first Lithium ETF (NYSE Arca: LIT). This is the first ETF to offer investors targeted access to a resource industry critical for the renewable energy and green movement.
“The Global X Lithium ETF is an efficient way to invest in what we refer to as a “green” commodity because of its direct correlation to the renewable energy market such as electric cars and energy storage,” said Bruno del Ama, CEO of Global X Funds. | |||
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| Global Equity Index & ETF Research : July brings calm as investors take a pause to fine tune their game | |||
| July 23, 2010-Weekly European ETP Market Roundup Net Cash flows -Equity markets remained ambivalent over the week that ended July 16, with no real push in either direction. The Euro Stoxx 50 declined by 1.5%, DAX fell by 0.4% and FTSE 100 rose by 0.5%. Gold (USD) fell by 1.7% while the Euro rose 2.1% against the US dollar. -Total European ETP cash flows of €1.0 billion point to a positive, yet relatively calm week, where equity investors seem to be pausing to take stock, and on some occasions fine-tune their game. | |||
| read more | |||
| Global X Funds Lists Global X Lithium ETF on NYSE Arca | |||
| July 23, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the Global X Lithium ETF (Ticker: LIT). The ETF is sponsored by Global X Funds. | |||
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| CFTC.gov Commitments of Traders Reports Update | |||
| July 23, 2010--The CFTC.gov Commitments of Traders Reports Update for the week of July 20, 2010 are now available. | |||
| read more | |||
| Van Eck Associates Corporation Lists Market Vectors Emerging Markets Local Currency Bond ETF on NYSE Arca | |||
| July 23, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the Market Vectors Emerging Markets Local Currency Bond ETF (Ticker: EMLC). The ETF is sponsored by Van Eck Associates Corporation. | |||
| read more | |||
| SGX proposes new rules and measures for short selling | |||
| July 23, 2010--The Singapore Exchange (SGX) has proposed new rules and measures to provide more information on short selling activities.
This includes the requirement to mark all sell orders, either as a normal sell order or a short sell order. With the collated data, SGX intends to report the short sales volume and value by counter for each trading day. | |||
| read more | |||
| FSA implements new powers granted by Financial Services Act 2010 | |||
| July 23, 2010--The document includes new rules and guidance covering the following areas:
Use of the power to impose financial penalties or public censure on those who breach short-selling rules; Disclosure of significant net short positions (these will go in a new part of the Handbook covering financial stability and market confidence and the current provisions on short selling in the Code of Market Conduct will be deleted); | |||
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| Market highlights for first half-year 2010 | |||
| July 23, 2010--Exchanges across the globe saw the value of their indexes drop an average of 11.5% in USD terms in the first six months of the year, according to figures released today from the World Federation of Exchanges (WFE). | |||
| read more | |||
| ETF Securities USA files with the SEC | |||
| July 23, 2010--ETF Securities USA has filed a pre-effective amendment No, 1, FORM S-1 with the SEC for ETFS Collateralized Commodities Trust. | |||
| read more | |||
| United States Commodity Funds files with the SEC | |||
| July 23, 2010--United States Commodity Funds has filed a Form S-1 with the SEC for United States Commodity Index Fund. | |||
| read more | |||
| Georgetown Investment Management LLC files with the SEC | |||
| July 23, 2010--Georgetown Investment Management LLC has filed an application for exemptive relief with the SEC. | |||
| read more | |||
| Georgetown Investment Management LLC files for exemptive relief with the SEC | |||
| July 23, 2010--Georgetown Investment Management LLC has filed for exemptive relief with the SEC to issue actively-managed ETFs. The Initial Funds are as follows: Georgetown Small-Mid Cap Equity ETF | |||
| read more | |||
| PowerShares files with the SEC | |||
| July 23, 2010--PowerShares has filed post-effective amendment, registration statement with the SEC for PowerShares Fundamental High Yield Corporate Bond Portfolio (formerly PowerShares High Yield Corporate Bond Portfolio) Ticker: PHB) | |||
| read more | |||
| Schwab files with the SEC | |||
| July 23, 2010--Schwab has filed a post-effective amendment, registration statement with the SEC for 3 ETFs. They are Schwab U.S. TIPS ETF-Ticker Symbol:SCHP Total annual operating expenses: 0.14 | |||
| read more | |||
| Seven banks fail Europe stress test | |||
| July 23, 2010-- Just seven European banks failed a health check and were ordered to raise their capital by 3.5 billion euros ($4.5 billion), much less than expected, confirming fears the continent's long-awaited stress test was too soft. | |||
| read more | |||
| Strong GDP figures lift sterling | |||
| July 23, 2010--The pound advanced this week as a surge in UK growth eased fears that the economy was headed for a double-dip recession.
Figures released on Friday showed the UK economy grew at its fastest pace in four years in the second quarter. The data supported sterling, prompting speculation in some quarters that the Bank of England could move to exit its ultra-loose monetary policy stance sooner than expected. | |||
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| Long bonds come a little unstuck | |||
| July 23, 2010--South African bonds remained weak during the morning session on Friday as the unchanged rates stance of Thursday continued to lead to long positions being unwound. | |||
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| Rand tracks weaker euro | |||
| July 23, 2010--The rand was a fraction softer in afternoon trade on Friday tracking the euro, ahead of crucial EU bank stress test results. | |||
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| JSE edges higher in cautious trade | |||
| July 23, 2010--South African stocks edged higher on Friday in cautious trade ahead of European stress test results while the rand hovered near three-month highs against the dollar after the central bank decided not to cut rates the previous day. | |||
| read more | |||
| CEBS Press release on the results of the 2010 EU-wide stress testing exercise | |||
| July 23, 2010--Further to its statements issued on 18 June, 7 July and 19 July 2010, CEBS today releases its summary report on the results of the EU-wide stress test exercise. CEBS was mandated by the ECOFIN to conduct, in cooperation with the European Central Bank (ECB), the European Commission and the EU national supervisory authorities, a second EU-wide stress testing exercise. The overall objective of the 2010 exercise is to provide policy information for assessing the resilience of the EU banking system to possible adverse economic developments and to asses the ability of banks in the exercise to absorb possible shocks on credit and market risks, including sovereign risks. | |||
| read more | |||
| ECB hails results of EU bank stress tests | |||
| July 23, 2010--The European Central Bank on Friday hailed the results of European Union stress tests on major commercial banks, saying the findings confirmed banks could survive severe shocks. | |||
| read more | |||
| Analysts talk of bank 'whitewash' but see no 'skeletons' | |||
| July 23, 2010-- Banking regulators published "stress tests" on 91 European banks accounting for 65 percent of EU banking on Friday, finding that seven failed and must raise extra capital to survive a new crisis.
A crucial question for the financial sector is the rigour, and therefore credibility, of the way the crash criteria were set for the banks. Here are some comments from financial analysts. | |||
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| Select Sector SPDR Trust Sues Invesco Over ETF Symbols | |||
| July 23, 2010--The manager of the Select Sector SPDR exchange-traded fund family is suing Invesco Ltd. (IVZ) over its use of similar trading symbols for its PowerShares ETFs. | |||
| read more | |||
| Van Eck Launches Market Vectors(TM) Emerging Markets Local Currency Bond ETF | |||
| July 23, 2010-- New York-based asset manager Van Eck Global has launched Market Vectors Emerging Markets Local Currency Bond ETF (NYSE Arca: EMLC), the first U.S.-listed exchange-traded fund (ETF) designed to provide investors with exposure to an index that tracks a basket of bonds issued in local currencies by emerging market governments. The Fund has a gross expense ratio of 0.60 percent and net expense ratio of 0.49 percent. | |||
| read more | |||
| CFTC Designates Green Exchange, LLC as a Contract Market | |||
| July 23, 2010-- The Commodity Futures Trading Commission (CFTC) yesterday approved the application of Green Exchange, LLC (“GreenEx”) for designation as a contract market. GreenEx is organized as a Delaware Limited Liability company and is a wholly-owned subsidiary of Green Exchange Holdings, LLC (“GreenEx Holdings”). Chicago Mercantile Exchange, Inc. (“CME”) is the largest equity owner of GreenEx Holdings. | |||
| read more | |||
| Global X Funds To Unveil World's First Lithium ETF | |||
| July 22, 2010--Global X Funds said Thursday it will unveil on Friday the world's first lithium exchange-traded fund in shares of the largest and most liquid lithium battery producing and mining and refining companies | |||
| read more | |||
| Ireland showing best funds growth | |||
| July 22, 2010--IRELAND IS the fastest-growing of the major European fund centres, and is now attracting hedge funds away from traditional offshore locations, according to the inaugural Ireland Funds Report. | |||
| read more | |||
| BlackRock profit up, but outflows worry investors | |||
| July 22, 2010--Money manager BlackRock failed to impress investors with better-than-expected second-quarter profits on Wednesday, amid continuing concerns that founder and Chief Executive Laurence Fink's big move into exchange-traded funds is making the firm more dependent on low-fee products. | |||
| read more | |||
| Istanbul Stock Exchange hits all-time record exceeding 60,000 | |||
| July 22, 2010--The ?stanbul Stock Exchange (?MKB) broke new records over the past two days, exceeding 60,000 for the first time in its history in the first session of trading yesterday. | |||
| read more | |||
| ETFS Securities files with the SEC | |||
| July 22, 2010-ETF Securities, has filed a FORM S-1 for ETFS Asian Gold Trust. | |||
| read more | |||
| Wisdom Tree files with the SEC | |||
| July 22, 2010--Wisdom Tree has filed a post-effective amendment, registration statement with the SEC for WisdomTree Managed Futures Strategy Fund | |||
| read more | |||
| Claymore files with the SEC | |||
| July 22, 2010--Claymore has filed a post-effective amendment, registration statement with the SEc for Claymore/Beacon Global Exchanges, Brokers & Asset Managers Index ETF-Ticker Symbol: EXB Claymore/Robb Report Global Luxury Index ETF-Ticker Symbol: ROB | |||
| read more | |||
| Claymore files with the SEC | |||
| July 22, 2010--Claymore has filed a post-effective amendment, registration statement with the SEC for Claymore U.S. Capital Markets Bond ETF-Ticker Symbol: UBD Claymore U.S. Capital Markets Micro-Term Fixed Income ETF-Ticker Symbol: ULQ | |||
| read more | |||
| ALPS files with the SEC | |||
| July 22, 2010--Alps has filed a post-effective amendment, registration statement with the SEC for RiverFront Strategic Income Fund | |||
| read more | |||
| Spain sets up repository for OTC derivatives | |||
| July 22, 2010--Spain on Thursday launched a trade repository for over-the-counter derivatives in the first step of a pan-European project to create a reporting system for financial products currently traded off-market. | |||
| read more | |||
| SEC gives asset-backed deals 6 months' grace | |||
| July 22, 2010--Regulators on Thursday said companies selling securities backed by loans would have six months of breathing room to comply with new regulations that could have made selling such deals difficult. | |||
| read more | |||
| European banks on edge over stress test exam | |||
| July 22, 2010-- Powerbrokers in European finance expect a few black marks when results of tests on the capacity of European banks to survive new shocks are released on Friday but also count on governments to help the weaklings. | |||
| read more | |||
| Italian banks have passed stress tests: report | |||
| July 22, 2010-- Financial "stress tests" on the five Italian banks that underwent them have shown core capital reserves well above what is needed to resist a severe shock, daily Il Messaggero reported on Thursday.
The two largest banks, Unicredit and Intesa Sanpaolo, came out on top with a Core Tier One ratio -- of a bank's core equity capital to its total assets -- of about 8 percent, Il Messaggero reported. | |||
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| Credit Suisse outsources German fund admin to SocGen | |||
| July 22, 2010--Societe Generale Securities Services (SGSS) and Credit Suisse (Deutschland) AG have signed an agreement on a partnership under the terms of which SGSS will provide Credit Suisse Asset Management in Germany with comprehensive fundadministration services. | |||
| read more | |||
| Source fastest growing ETP provider in Q2 2010 | |||
| July 22, 2010--Source saw higher net cashflows than any other European exchange-traded product provider in the second quarter of 2010, according to a recent report by Deutsche Bank. | |||
| read more | |||
| CFTC Begins Publishing New Large-Trader Report for Financial Futures Markets | |||
| July 22, 2010--The U.S. Commodity Futures Trading Commission (CFTC) today announced that it will begin publishing a new report that adds further transparency to the financial futures markets. The report, entitled Traders in Financial Futures (TFF), builds on improvements to transparency implemented last year that disaggregated data in the CFTC’s weekly Commitments of Traders (COT) Reports. | |||
| read more | |||
| Kuwait market KSE adds a quarter percent | |||
| July 22, 2010--The KSE Market or Price Index extended its advance from Wednesday, finishing 0.25% higher at6,582.6 points. All sector indices went up with the exeception of the KSE bank segment which ended flat. | |||
| read more | |||
| Qatar bourse ends flat at 6,951.89 points | |||
| July 22, 2010--The Qatari stock market ended flat after a lackluster trading day. Investors booked profits at banks in particular, with Doha Bank (the number three in Qatar) eased 1.13% to QR44.40. But Credit Suisse maintained its outperform rating on Doha Bank and target price of QR64 per share after the bank reported on Tuesday a second quarter net income of QR300m, down 5.4% on a year on year basis and 4.9% quarter on quarter. | |||
| read more | |||
| Abu Dhabi market adds one percent over the week | |||
| July 22, 2010--The ADX gained 0.59% on Thursday (closing at 2,550.98 points) and 0.97% over the third week of July. Gulf Livestock Company topped the charts, ending 9.93% higher at Dhs4.98. | |||
| read more | |||
| Investors unimpressed by Emaar results | |||
| July 22, 2010--The Dubai Financial Market (DFM) ended 0.16% lower at 1,528.97 points. Market bellwether Emaar reported a net profit of Dhs802bn ($218m) for the second quarter, a 6% increase over the first quarter of the year. But Emaar shares closed unchanged at Dhs3.37. | |||
| read more | |||
| Global Equity Index & ETF Research -- US Weekly ETP Market Review | |||
| July 21, 2010--New Listings and Delistings
There were 13 new listings in the previous week, all of them listed on NYSE Arca. Direxionshares launched two sets of leverage ETFs offering Long and Short exposure to the Retail and Natural Gas sectors. While BlackRock launched a range of ETFs offering exposure to 9 Global ex-US sectors. Net Cashflows Total ETP inflows in the US add up to $1.0 bn during the previous week. Fixed Income had inflows of $1.6 bn. Equity, Commodity and Currency ETPs, on the other hand, experienced outflows of $587 mm, $3 mm and $17 mm, respectively | |||
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| Euro Area: Restoring Confidence Key to Growth | |||
| IMF Survey online
July 21, 2010 Credible bank stress tests essential to restore confidence Action needed to establish fiscal sustainability and restore growth Wake-up call to strengthen area-wide economic governance Before the euro area economy could recover firmly from the global crisis, it was hit by market concerns related to the sovereign debt of some of its members. | |||
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| AdvisorShares Launches First Actively Managed International ETF | |||
| WCM/BNY Mellon Focused Growth ADR ETF (AADR) July 21, 2010--AdvisorShares Investments, LLC, an investment adviser to actively managed exchange traded funds (ETFs), announced that it will begin trading in the industry's first actively managed international ETF, the WCM/BNY Mellon Focused Growth ADR ETF (NYSE: AADR) today, July 21st. | |||
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| ETF Landscape: STOXX Europe 600 Sector ETF Net Flows, week ending 16-Jul-10 | |||
| July 21, 2010--Last week saw US$263.9 Mn net outflows from STOXX Europe 600 sector ETFs. The largest sector ETF outflows last week were in Basic Resources with US$179.5 Mn and Media with US$49.6 Mn while Banks experienced net inflows of US$46.1 Mn. | |||
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| Horizons AlphaPro Launches Actively Managed Global Dividend ETF | |||
| July 21, 2010--AlphaPro Management Inc. ("AlphaPro"), the manager of the Horizons AlphaPro Exchange Traded Funds ("ETFs"), is pleased to announce the launch of the Horizons AlphaPro Global Dividend ETF (the "Global Dividend ETF"). The Global Dividend ETF will begin trading today on the Toronto Stock Exchange under the symbol HAZ. | |||
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| Shanghai to Introduce Foreign ETFs Before International Board, Liu Says | |||
| July 21, 2010--The Shanghai Stock Exchange will introduce foreign exchange-traded funds before setting up an international board. | |||
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| AdvisorShares Lists WCM / BNY Mellon Focused Growth ADR ETF on NYSE Arca | |||
| July 21, 2010-- NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the WCM / BNY Mellon Focused Growth ADR ETF (Ticker: AADR). The ETF is sponsored by AdvisorShares, and sub-advised by WCM Investment Management (“WCM”). | |||
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| Dow Jones Indexes Mid-Year Commodities Outlook Media Summary | |||
| July 21, 2010--The Dow Jones-UBS Commodity Index is down 9.66% so far this year. In terms of sectors, the Dow Jones-UBS Precious Metals Sub-index has the strongest year-to-date gain of 12.80%. Leading commodity analysts provided their market outlook for the remainder of 2010 this morning at the ninth annual Dow Jones Indexes Mid-Year Commodity Outlook. | |||
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| Robust first day for A-share ETFs | |||
| July 21, 2010--Two CSI 300-linked exchange-traded funds launched by iShares rose by up to 2 percent yesterday on their debuts, outperforming the Hang Seng Index. One of them, iShares CSI A-Share Consumer Discretionary Index ETF (3001), closed at HK$17.42 - up 2.11 percent on its opening at HK$17.06, with 6.95 million shares changing hands. | |||
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| BM&FBOVESPA Announces Reduction in the Round Lot for ETFs | |||
| July 21, 2010-- BM&FBOVESPA has announced that as of August 2, 2010 the round lot for index funds or ETFs (Exchange Traded Funds) will be reduced from 100 units to 10 units, which means that the minimum value needed to invest in this product will be ten times less than it was. For example, a round lot for the ETF BOVA11, which mirrors the Bovespa Index, based on its closing price on July 19, would be reduced from BRL6,280.00 to BRL628.00. | |||
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| Horizons AlphaPro launches actively managed global dividend ETF | |||
| July 21, 2010--The Horizons AlphaPro Global Dividend ETF is set to begin trading Wednesday on the Toronto Stock Exchange under the symbol HAZ, AlphaPro Management Inc., the manager of the Horizons AlphaPro Exchange Traded Funds says. | |||
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| Stirred, Not Shaken: Senior Fixed Income Investors Steady on U.S. Credit Recovery | |||
| July 21, 2010--Summary Despite disappointing employment gains and a renewed bout of risk aversion following the sovereign debt crisis in Europe, the most recent Fitch Ratings/Fixed Income Forum Survey of Senior Investors, conducted in June, finds some surprising resiliency in investor sentiment on U.S. growth prospects and the pace of the credit recovery. Most investors still expect moderate growth for the U.S. in 2010, predict stability or credit improvement across multiple investment areas, and believe lending standards will loosen in the next 12 months. | |||
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| SEC Approves Disclosure Form Changes to Provide Investors Greater Information About Their Investment Advisers | |||
| July 21, 2010--Securities and Exchange Commission today voted unanimously to adopt changes to the principal disclosure document that SEC-registered investment advisers must provide to their clients and prospective clients. | |||
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| International trade statistics: trends in first quarter 2010 | |||
| July 21, 2010--Merchandise trade volumes for the G7 countries as a whole continued to grow in the first quarter of 2010, but at a slower pace than in the fourth quarter of 2009. Based on seasonally adjusted monthly data, merchandise trade values remain approximately 20% below pre-crisis levels in April and May. | |||
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| S Africa wakes up to reality after World Cup | |||
| July 21, 2010--Just 10 days ago, Mary Muthui was doing a roaring trade in football scarves, beanie hats and vuvuzelas at her stall in the Rosebank Mall crafts centre in northern Johannesburg. But – less than two weeks after the end of South Africa’s much acclaimed World Cup – the 28-year-old trader was struggling to unload anything at all and was offering the controversial plastic horn for a quarter of the R120 ($16, €12, £10) that football fans were paying last month. “It’s very, very slow,” she said. “I have sold less than 50 vuvuzelas since the final.” | |||
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| China rating agency condemns rivals | |||
| July 21, 2010--The head of China’s largest credit rating agency has slammed his western counterparts for causing the global financial crisis and said that as the world’s largest creditor nation China should have a bigger say in how governments and their debt are rated. | |||
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| Derivatives reform hits non-financials | |||
| July 21, 2010--BP, Royal Dutch Shell, Cargill and other large energy and commodity companies face new costs in their derivatives trading activities following Wednesday’s signing of the US financial reform law. | |||
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| BlackRock's Q2 assets under management plummet by 6% | |||
| July 21, 2010--– Assets under management at BlackRock, the largest asset manager in the world, fell by 6% to $3.1trn (€2.4trn) in the second quarter, sending its shares down by nearly 5% today. | |||
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| BNY Mellon Depositary Receipts Plays Integral Role in Launch of First Actively Managed International Exchange-Traded Fund | |||
| New “AADR” ETF offers U.S. investors unique opportunity to diversify portfolio July 21, 2010-- BNY Mellon’s Classic ADR Indexsm has been selected as the referenced index for a new actively managed international exchange-traded fund (ETF) to be listed in the United States. The Fund’s investment objective, as stated in its prospectus (see: http://aadr.advisorshares.com) is long-term capital appreciation greater than international benchmarks, such as the BNY Mellon Classic ADR Index, which is the Fund’s primary benchmark. The WCM/BNY Mellon Focused Growth ADR ETF is sponsored by AdvisorShares Investments, LLC. The new ETF will trade on the New York Stock Exchange under the symbol “AADR.” | |||
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| BlackRock’s ETF Research & Implementation Strategy Team Releases Updated “ETF Landscape Global Handbook,”The Market’s Most Comprehensive Source of ETF Data and Commentary | |||
| July 21, 2010--With strong investor demand continuing to drive rapid growth in the market for exchange traded funds (ETFs), a proliferation of new offerings has made it considerably more challenging for investors and their advisors to identify those ETFs best suited for a particular investment need. As part of its ongoing effort to help investors and advisors better understand all the varied offerings of this ever-expanding marketplace, BlackRock’s ETF Research & Implementation Strategy Team has just released its new “ETF Landscape Global Handbook”, updated for Q2 2010 -- a free guide providing a comprehensive look at all ETFs and exchange traded products (ETPs) listed on exchanges around the world. | |||
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| The rising wave of investor/corporate engagement in Japan | |||
| July 21, 2010--Ten years have passed since an amendment to the UK Pensions Act became the world’s first regulation to require occupational pension schemes to disclose environmental, social and governance (ESG) considerations within their investment portfolios. | |||
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| SEC Proposes Measures to Improve Regulation of Fund Distribution Fees and Provide Better Disclosure for Investors | |||
| July 21, 2010-- The Securities and Exchange Commission today voted unanimously to propose measures aimed to improve the regulation of mutual fund distribution fees and provide better disclosure for investors. | |||
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| CFTC Releases List of Areas of Rulemaking for Over-the-Counter Derivatives | |||
| July 21, 2010-- The Commodity Futures Trading Commission (CFTC) today released the list of 30 areas of rulemaking to implement the Wall Street Reform and Consumer Protection Act. Some of these areas will require only one rule, while others may require more. The CFTC is required to complete these rules generally in 360 days, though some are required to be completed within 90, 180 or 270 days. | |||
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| CFTC Chairman Gensler Comments on Enactment of Wall Street Reform and Consumer Protection Act | |||
| July 21, 2010- Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler today commented on the President’s signing of the Wall Street Reform and Consumer Protection Act.
Chairman Gensler said: “The Wall Street reform bill will – for the first time – bring comprehensive regulation to the over-the-counter derivatives marketplace. | |||
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| Standard & Poor's fund services assigns first rating to Saudi based fund | |||
| July 21, 2010--Standard & Poor's Fund Services announced today that it has assigned an A fund management rating to SAIB GCC Equity Fund, the first Gulf Cooperation Council (GCC) equities fund managed out of Saudi Arabia to receive an S&P fund management rating. | |||
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| Tadawul bourse defends 6,000-level | |||
| July 21, 2010--The most liquid stock was Aabar Investments as it extended it rally by 2.12% and finished at Dhs1.93. Real estate bellwether Aldar Properties ended flat at Dhs2.57. | |||
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| Abu Dhabi investors take profits, sent ADX 0.29% lower | |||
| July 21, 2010--The ADX General Index ended at 2,536.10 points (down 0.29%). Losses at the emirate's largest banks National Bank of Abu Dhabi (NBAD) (1.81% lower at Dhs11.30) and First Gulf Bank (FGB) (off one percent at Dhs14.30) weighed on the market. | |||
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| Dubai market gains 1.43% amid fresh optimism | |||
| July 21, 2010--After UAE Vice President, Prime Minister and Dubai ruler HH Sheikh Mohammed Bin Rashid Al-Maktoum declared in a CNN interview (to be aired on Friday) that the recession was over investors went on a buying spree at the DFM, sending the main index 1.43% higher to 1,531.36 points. | |||
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| DB Index Research -- Weekly ETF Market Review -- Asia-Pacific | |||
| July 20, 2010--Overview There are 228 equity based ETFs in the Asia Pacific region with 316 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 40.73% of the whole market, whilst China has the largest market share by turnover with 34.37%. Da Cheng International AMC Ltd. listed its first ever ETF on Hong Kong Stock Exchange which tracks the performance of CSI China Mainland Consumer Index. | |||
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| Barclays Capital Launches First Exchange Traded Note Linked Inversely to a Volatility Index | |||
| July 20, 2010--Barclays Capital today announced the listing of the Barclays ETN+ Inverse S&P 500® VIX Short-Term FuturesTM ETN on the NYSE Arca stock exchange under the ticker symbol XXV. The ETN is designed to provide investors with a cost-effective way to implement a ‘short’ view on volatility in the U.S. equities markets. | |||
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| U.S. International Reserve Position | |||
| July 20, 2010--The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $128,602 million as of the end of that week, compared to $126,723 million as of the end of the prior week. | |||
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| Focusing on Booming Threshold Countries | |||
| ETFlab with two new emerging market funds ETFlab MSCI China (ISIN: DE 000 ETF L32 6) ETFlab MSCI Emerging Markets (ISIN: DE 000 ETF L34 2) July 20, 2010--ETFlab Investment GmbH, the Munich specialist for exchange traded funds, is offering two new threshould country index funds. The ETFlab MSCI China comprises a broadly diversified basket of stocks of Chinese companies traded in Hongkong. The ETFlab MSCI Emerging Markets tracks a broadly diversified portfolio of companies listed on the stock exchange of 21 threshold countries. “Thus we provide an access to the fastest-growing regions of the world“, Andreas Fehrenbach, ETFlab’s managing director, points out. “Investors wishing to achieve aboveaverage returns must engage there.“ | |||
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| Deutsche Börse to target pension funds directly | |||
| July 20, 2010-- Stock exchange operator Deutsche Börse wants to "increase direct business with institutional investors", including pension funds, according to chief executive Reto Francioni | |||
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| Two New ETFlab Equity Index ETFs Launched on Xetra | |||
| July 20, 2010--Deutsche Börse continues to expand its XTF segment for exchange-listed index funds. Two new ETFs issued by ETFlab have been tradable on the pan-European platform Xetra since Tuesday.
ETF name: ETFlab MSCI China Asset class: equity index ETF ISIN: DE000ETFL326 Management fee: 0.65 percent Distribution policy: distributing Benchmark: MSCI China | |||
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| First ETFs on commodities on the Spanish Stock Exchange | |||
| Recent regulatory changes allow further progress in the development of the segment July 20, 2010--The Spanish stock exchange today launched trading in two new exchange traded funds (ETFs) which, for the first time in Spain, are linked to commodities as underlying assets. The new exchange traded funds were issued by Lyxor Asset Management. With these, there are now 43 ETFs listed on the Spanish stock exchange. | |||
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| 87% Increase In Fund Launches That Permit Use Of Derivatives | |||
| July 20, 2010--Analysis of new fund launches from independent financial research company Defaqto reveals an 87% increase in the number of funds launched that permit the use of derivatives. | |||
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| AdvisorShares Set to Launch First Actively Managed International ETF-WCM/BNY Mellon Focused Growth ADR ETF (AADR) | |||
| July 20, 2010--AdvisorShares Investments, LLC, an investment adviser to actively managed exchange traded funds (ETFs), announced that it will begin trading in the industry's first actively managed international ETF, the WCM/BNY Mellon Focused Growth ADR ETF (NYSE:AADR - News) tomorrow, July 21st. AADR is sub-advised by institutional money manager WCM Investment Management (WCM). BNY Mellon is the world's largest depositary for American Depositary Receipts (ADRs) and will provide the primary benchmark to the Fund as well as expertise within the ADR industry to the portfolio management team. | |||
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| China cross-border ETFs in final stage -CSRC | |||
| July 20, 2010--Two financial firms have launched new products with A shares as the underlying assets to tap Hongkongers' huge appetite for mainland stock investments. iShares introduced two A-share consumer exchange- traded funds yesterday, offering customers more investing opportunities in the booming mainland consumer market. | |||
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| ETFs tap A-share demand | |||
| July 20, 2010--Two financial firms have launched new products with A shares as the underlying assets to tap Hongkongers' huge appetite for mainland stock investments. iShares introduced two A-share consumer exchange- traded funds yesterday, offering customers more investing opportunities in the booming mainland consumer market. | |||
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| Tokyo Stock Exchange Begins Calculation And Publication Of The "TOPIX And TOPIX Core30 Dividend Index" | |||
| July 20, 2010--Tokyo Stock Exchange, Inc. (TSE) will begin calculation and publication of the “TOPIX Dividend Index” and “TOPIX Core30 Dividend Index” on July 22, 2010. The indices indicate, in points, the amount of dividends to be obtained if the component stocks of TOPIX or TOPIX Core30 were held during the index calculation period. | |||
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| Direxion files Form S-1 with the SEC | |||
| July 20, 2010--Direxion has filed a Form S-1 with the SEC for the following Direxion Daily Gold Bull 3X Shares Direxion Daily Gold Bear 3X Shares Direxion Daily Silver Bull 3X Shares | |||
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| Newsflash - Dividend derivatives open interest exceeds 1 million contracts | |||
| July 20, 2010-- The international derivatives exchange Eurex has for the first time exceeded the 1 million mark in open interest on its dividend product suite. Dividend futures and options contracts outstanding as at 19 July stood at 1,010,417 which represent a nominal value in excess of 6.2 billion euro of the dividend payments of European blue-chip companies. | |||
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| First Trade in EUA Futures for the Third European Emissions Trading Period | |||
| Positive Development on the Derivatives Market for EUA Futures July 20, 2010-- On Friday, 16 July 2010, the first trade in EUA Futures for the Third European Trading Period was concluded on the market for emission rights operated by European Energy Exchange AG (EEX) and Eurex. The volume traded comprised 25,000 EUA for delivery in the year 2013 and the trades were concluded between RWE and CEZ. Since 30 June of this year it has been possible for the EEX and Eurex trading participants to trade EUA futures for delivery in the years 2013 and 2014 in addition to the existing contracts. | |||
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| Dreyfus files with the SEC | |||
| July 20, 2010--Dreyfus has filed an application for exemptive relief with the SEC. | |||
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| India says farms key to matching China | |||
| July 20, 2010--Improving India’s rural economy is the key to matching China’s economic growth rate of 10 per cent, Indian financial policymakers said on Tuesday. Speaking at a meeting on growth strategy over the next four years, K.M. Chandrasekhar, the government’s cabinet secretary, said reaching double-digit growth was “largely contingent” on the farm sector’s achieving 4 per cent growth. | |||
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| China denies IEA claim on energy consumption | |||
| July 20, 2010--China on Tuesday dismissed claims that it was the world’s largest energy consumer, calling the latest estimates from the International Energy Agency “not very credible”.
The energy watchdog disclosed on Monday that China had overtaken the US in energy consumption, according to preliminary estimates. | |||
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| Derivatives reform to punish property industry | |||
| July 20, 2010--The European Union’s proposed reform of over-the-counter derivatives markets is intended to reduce the systemic risk caused by speculative use of derivatives, typically by hedge funds and other financial institutions. It was assumed those using derivatives for bona fide hedging and prudent risk management purposes would be excluded from the margin requirements that the new regulations would demand. However, it is now becoming clear that the European property industry risks being one of the biggest victims of regulatory overreach. | |||
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| Barclays predicts higher prices for copper, tin and lead | |||
| Barclays Capital research analysts anticipate the implied physical gold balance will improve this year and next due to a slower pace of mine supply growth. July 20, 2010--Barclays Capital Commodities Research suggests "there is a clear fundamental signal for even higher prices" for copper, tin and lead, while Barclays analysts downgraded their price expectations for aluminum and zinc. | |||
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| NASDAQ OMX and the MICEX Group Announce Market Data Partnership | |||
| July 20, 2010-- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and the MICEX Group today announced that NASDAQ OMX® has been selected to provide market data audit services for the MICEX Group.
The market data compliance services will be performed by NASDAQ OMX Global Data Products, a premier market data operation, through its Global Access program. Global Access allows companies to utilize NASDAQ OMX's distribution network, sales, administrative and technical expertise to quickly realize and maximize profits for their market data content. | |||
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| The European Commission could pull the plug on shareholder engagement unless owners step up | |||
| EC Green Paper is sceptical about shareholder oversight to prevent another financial crisis July 20, 2010--You could be forgiven, on the basis of recent developments, for thinking that we are about to enter a new era of shareholder engagement. The UK’s decision to press ahead with the introduction of a Stewardship Code for institutional investors, to mirror the Corporate Governance Code for public companies, does seem to enshrine the shareholder-oversight approach to governance. | |||
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| CESR launches four consultations on the Key Investor Information Document | |||
| July 20, 2010--Guidelines on the selection and presentation of performance scenarios in the Key Investor Information document for structured UCITS
Guidelines for the transition from the Simplified Prospectus to the Key Investor Information document | |||
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| Mena private equity activity declined in 2009 but set to rebound in 2010 | |||
| July 20, 2010--Private equity in the Middle East witnessed a decline in 2009, with fund managers raising only $1.06bn compared to a near-record $5.4bn in 2008 according to the 4th annual Private Equity& Venture Capital in the Middle East report released by the Gulf Venture Capital Association (GVCA) in collaboration with KPMG and Zawya. | |||
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| Saudi market declines by one percent | |||
| July 19, 2010--Profit taking and stuttering oil prices triggered the Saudi Tadawul bourse to weaken by one percent. Oil prices lost 58 US-Cent as of the close of trading in Riaydh on Tuesday, as the price declined below the level of $76 per barrel. The lead index Tasi closed at 6,068.65 points. | |||
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| Bahrain exchange stabilises above 1,400 points | |||
| July 20, 2010--The Bahrain All Share Index advanced to 1,404.47 points, as only 954,524 stocks changed handes, the lowest trading volume in the GCC on Tuesday. | |||
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| Qatar bourse adds 0.16% | |||
| July 20, 2010--As on Monday, the QE Index gained slightly, closing 0.16% higher at 6,935.42 points. Shares Shares of Doha Bank ended flat at QR44.10. Doha Bank reported a second quarter net income of QR300m, down 5.4% on a year on year basis and 4.9% quarter on quarter. | |||
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| NASDAQ OMX and the MICEX Group Announce Market Data Partnership | |||
| July 20, 2010--Abu Dhabi's securities market ADDX added 0.36%, closing at 2,543.36 points. Shares of Aabar Investments jumped 9.88% to the level of Dhs1.89. Aabar sent out an invitation letter to its shareholders regarding an extraordinary general meeting in order to transform the investment firm, which is a 9.1% shareholder at Daimler AG, into a joint private stock company. | |||
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| Exchange-Traded Funds: US ETF Weekly Update-Morgan Stanley | |||
| July 19, 2010--Weekly Flows: $700 Million Net Inflows ETFstraded $320 billion last week 9 New iSharesInternational Sector ETFs 4 New DirexionLeveraged & Inverse ETFs | |||
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| ISE Introduces New Options Order Type | |||
| Do Not Route Orders Provide ISE’s Customers With Increased Control
Over Order Execution July 19, 2010--The International Securities Exchange (ISE) today announced that it has introduced Do Not Route (DNR) orders for both priority and professional customers. This new order type allows ISE’s customers to indicate that they want to cancel their options orders rather than have them routed to another exchange if the National Best Bid or Offer (NBBO) is not posted at ISE. | |||
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| Emerging Markets Week in Review- 7/12/2010 - 7/16/2010 | |||
| July 19, 2010--The Dow Jones Emerging Markets Sector Titans Composite Index fell 0.71% last week as sovereign debt problems in developed markets continue to weigh on investor's expectations of sustained economic growth. | |||
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| Overvalued lira a disadvantage for Turkey’s foreign trade | |||
| July 19, 2010--The European Commission has warned that an overvalued Turkish lira may hamper the country’s competitive power in foreign markets, the Anatolia news agency reported on Monday. | |||
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| AdvisorShares Plots First-Ever All-Short ETF | |||
| July 19, 2010--AdvisorShares Investments will launch the first-ever all-short equity exchange-traded fund, attempting to appeal to investors frustrated with the complexity of inverse and leveraged index ETFs, CEO Noah Hamman told FA. As first reported on the FA Web site last week, the actively managed ETF will be subadvised by Dallas-based Ranger Alternative Management. | |||
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| Hedge Funds Raise Bull Oil Bets Most Since 2007: Energy Markets | |||
| July 19, 2010-- Hedge funds and other large speculators raised bets that oil would gain by the most in more than three years just as it began to slide, the second straight week money managers lined up on the wrong side of the market. | |||
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| Nigeria moves to create ‘bad bank’ | |||
| July 19, 2010--Nigeria took a step closer to resolving its financial crisis on Monday when Goodluck Jonathan, president, approved the creation of a “bad bank” to soak up some of the estimated $10bn of bad loans that brought the banking system to the brink of collapse last year. | |||
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| Global Trends in Green Energy 2009 | |||
| July 19, 2010--New Power Capacity from Renewable Sources Tops Fossil Fuels Again in US, Europe Clean energy investments show resilience in recession; Share of renewable energy continues to grow Growth of wind power in China a key feature of 2009 | |||
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| Credit spreads predicted to widen | |||
| July 19, 2010--Credit spreads for a broad range of companies in both the US and Europe are expected to widen over the next three months amid concern about the global economic recovery and the possibility of a sovereign default, according to a survey of credit portfolio managers at financial institutions around the world. | |||
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| SFC seeks market comments on proposed regulatory regime for credit rating agencies | |||
| July 19, 2010-- In step with global regulatory developments, the Securities and Futures Commission (SFC) is proposing in a consultation paper released today a regulatory regime to license and supervise the activities of credit rating agencies (CRAs) in Hong Kong. | |||
| read more | |||
| Europe gets a breather before bank stress tests | |||
| July 19. 2010--- The markets have given Europe some respite in its struggle against debt but the EU faces a moment of truth this week with tests that will show whether banks can survive a new economic cataclysm. | |||
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| Broadridge's Access Data Introduces New Market Intelligence Product for ETF Market | |||
| July 19, 2010--Broadridge Financial Solutions, Inc. today announced that for the first time issuers of Exchange Trade Funds (ETF) are able to gain a solid understanding of how financial intermediaries are using ETF products through its Access Data SalesVision(R) Distribution Platform. | |||
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| EC's take on derivatives could hurt retirement benefits, says EFRP | |||
| July 19, 2010--The European Commission's proposals on derivatives could increase costs and risk for pension funds and lead to lower retirement benefits for plan members, the European Federation for Retirement Provision (EFRP) has warned. | |||
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| “Transparency in Energy Markets“ now including data on solar energy | |||
| July 19, 2010--– From today data on the generation of electricity from solar energy will also be published on the joint transparency platform (www.transparency.eex.com) of European Energy Exchange AG (EEX) and the four German transmission system operators (TSOs), 50Hertz Transmission GmbH, Amprion GmbH, EnBW Transportnetze AG and transpower stromübertragungs gmbh, launched last autumn. | |||
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| CESR updates the list of measures recently taken by Members regarding short-selling. | |||
| July 19, 2010--CESR published on 22 September 2008 a statement that facilitates an overview of actions taken by CESR Members in relation to short-selling. The statement paper includes either the statements or links to the statements published by CESR Members explaining the measures taken. This paper is not a comparison of the measures taken. | |||
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| CESR launches two consultations on OTC derivatives, and announces a public hearing on 11 August | |||
| July 19, 2010--Two consultation papers are published today: Standardisation and exchange trading of OTC derivatives | |||
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| Abu Dhabi inflation climbs to 3.38% | |||
| July 19, 2010--Inflation in Abu Dhabi rose by 2.50% to 3.38% during the first half of the year compared to the same period a year ago, boosted by higher rents and utility charges in the emirate, the Abu Dhabi Statistics Center said. | |||
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| Saudi Arabia's non-oil exports rise 40% in May | |||
| July 19, 2010--According to Saudi Arabia's Central Department of Statistics and Information, the kingdom's non-oil exports rose 40% to SR11.9bn for the month of May, compared to SR8.5bn in May 2009, Reuters has reported. | |||
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| Economic Development Board’s first Annual Economic Review-Bahrain’s | |||
| July 19, 2010--Growth in retail banking and insurance has formed an important part of the changing nature of the financial services industry in Bahrain, according to the Annual Economic Review, which was officially launched today by the Bahrain Economic Development Board. | |||
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| Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index | |||
| July 19, 2010--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Monday, July 19, 2010:
Brazauro Resources Corporation (TSXVN:BZO) will be removed from the index. | |||
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| NASDAQ Captures 59 New Listings Including 23 IPOs in the Second Quarter | |||
| July 19, 2010--The NASDAQ Stock Market® (Nasdaq:NDAQ) today announced that in the second quarter it captured 59 new listings, including 23 new initial public offerings (IPO), with combined proceeds totaling over $1.98 Billion. | |||
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| DGCX 2010 Trading Volume Crosses One Million | |||
| DGCX volumes cross the one million contracts mark on July 13, 2010
Exchange records 48% increase in year-to-date volume compared with 2009 July 18, 2010--The Dubai Gold & Commodities Exchange today announced that its total volume for 2010 surpassed the one million contracts mark on July 13, 2010 the earliest it has exceeded this milestone in any year since inception. | |||
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| Dubai Gold And Commodities Exchange Weekly Views July 18th, 2010 | |||
| July 18, 2010--Commodities Overview Gold, silver, and petroleum prices were caught up in a broad sell off of assets last Friday, from stocks to dollars to commodities. There were various theories and rumors as to why prices fell, but most of them did not stand up to scrutiny. One rumor related to heavy liquidation by a long gold investor, but the market did not seem to reflect such trades. Given that the selling occurred across a wide spectrum of markets, it is unlikely that it was primarily driven by fundamentals in gold, oil, or any other single asset market. | |||
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| iShares Lists Nine ETFs on NYSE Arca | |||
| July 16. 2010-- NYSE Euronext announced that its wholly-owned subsidiary, NYSE Arca, today began trading nine ETFs sponsored by iShares.
iShares MSCI ACWI ex US Consumer Discretionary Sector Index Fund (AXDI) The iShares MSCI ACWI ex US Consumer Discretionary Sector Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Country World ex USA Consumer Discretionary Index. | |||
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| Schwab posts flat 2Q earnings, but beats estimates | |||
| July 16, 2010--Retail brokerage Charles Schwab Corp. on Friday reported flat second-quarter net income as waivers of clients' money market fees amid low interest rates continued to crimp revenue growth. Results ticked higher from the first quarter, however, and the company forecast continuing improvement in the second half of the year. | |||
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| Shanghai Applies to China Central Bank to Offer Gold Exchange Certificates | |||
| July 16, 2010--The Shanghai Stock Exchange has submitted a proposal to China’s central bank for introduction of a gold exchange certificate developed with the Shanghai Gold Exchange, said Liu Ti, an official with the stock exchange. | |||
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| iShares Launches the First International Sector ETFs That Include Developed and Emerging Markets Exposure | |||
| July 16, 2010--BlackRock, Inc. today announced that the iShares Exchange Traded Funds (ETFs) business, the world's largest provider of ETFs, launched nine iShares MSCI ACWI ex US sector funds on NYSE Arca that are the first to market international sector ETFs that include both developed and emerging markets exposures.1 The new funds each track their respective MSCI All Country World ex USA sector index and have an expense ratio of 0.48%. iShares has the largest number of sector ETFs and international ETFs.2 The new funds are:
iShares MSCI ACWI ex US Consumer Discretionary Sector Index Fund (AXDI | |||
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| Jefferies files with the SEC | |||
| July 16, 2010--Jefferies has filed a pre-effective amendment to Form S-1 with the SEC for Jefferies S&P 500 VIX Short-Term Futures ETF. | |||
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| SEC Adds Units to Oversee Financial Institutions, Asset-Backed Securities, New Financial Products and Trends | |||
| July 16, 2010-- The Securities and Exchange Commission's division that reviews public company filings is creating three specialized offices to enhance its disclosure review and policy operations.
The new offices in the Division of Corporation Finance will focus on large financial institutions, asset-backed securities and other structured products, and securities offering trends. | |||
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| State Street files with the SEC | |||
| July 16, 2010--State Street Global Advisors has filed a fourth amended and restated application for exemptive relief for actively managed ETFs. | |||
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| AllianceBernstein has filed with the SEC | |||
| July 16, 2010--AllianceBernstein Active ETFs, Inc. has filed an application for exemptive relief with the SEC for actively managed ETFs. | |||
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| CFTC.gov Commitments of Traders Reports Update | |||
| July 16, 2010--The Commitments of Traders Reports has been updated. The current reports for the week of July 13, 2010 are now available. | |||
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| BlackRock names head of portfolio management, promotes COO | |||
| July 16, 2010--BlackRock, the world's biggest asset manager, with €2.3trn worth of assets under management, has promoted its former head of international business Rich Kushel to head of portfolio management. | |||
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| Global X files with the SEC | |||
| July 16,l 2010--Global X has filed a post-effective amendment, registration statement with the SEC for Global X Aluminum ETF Global X Lithium ETF Global X Uranium ETF | |||
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| Europe faces years of weak growth: IMF head | |||
| July 16, 2010--Europe's economy risks several years of weak growth which threaten to drive up unemployment and weaken spending power, the head of the International Monetary Fund warned on Friday. | |||
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| NYSE Euronext US ETFs Monthly Flash | |||
| July 16, 2010--The NYSE Euronext US ETFs Monthly Flash June 2010 is now available. In Q2 2010, approximately 33 new ETFs listed on NYSE Arca (U.S), an increase of approximately 30% from Q2 2009 | |||
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| Bonds tad firmer on short-covering | |||
| July 16, 2010-- South African bonds were slightly firmer in late trade on Friday, which dealers attributed to a bit of short-covering.
By 15:50 the short-term government R154 bond was bid at 6.590% after closing at 6.530% on Thursday and the medium-term R157 was at 7.730% from 7.755% at its previous close. | |||
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| Wall Street slump hurts JSE | |||
| July 16, 2010-- Much like Thursday, the JSE shed its earlier gains in the afternoon session on Friday, tracking a retreat on Wall Street amid poor US economic data and company earnings which came in below expectations. | |||
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| Rand remains softer vs euro | |||
| July 16, 2010--The rand remained range-bound against the major currencies in late afternoon trade on Friday but was weaker against the euro which rose to a two-month high against the dollar. | |||
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| China to stick with euro despite debt crisis: Wen | |||
| July 16, 2010--Chinese Premier Wen Jiabao on Friday reiterated Beijing's intent to remain a long-term investor in the euro despite Europe's ongoing debt crisis. "As a responsible, long-term investor, China has always upheld the principle of diversified investments," Wen said at a joint press appearance with visiting German Chancellor Angela Merkel. | |||
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| ICICI Prudential MF launches Gold ETF | |||
| July 16, 2010--ICICI Prudential Mutual Fund on Friday launched its open-ended exchange traded fund – ICICI Prudential Gold Exchange Traded Fund. | |||
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| Chinese economy starts to cool down | |||
| July 15, 2010--The Chinese economy grew at 10.3 per cent in the second quarter over the year before, down from the previous three months as government efforts to cool the housing market and infrastructure investment began to bite. | |||
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| Korea Exchange and Eurex Receive Strong Support from Major Market Participants for Their Link | |||
| Launch of Eurex/KRX Link on track for starting date 30 August 2010 July 15, 2010--Eurex, Europe’s largest derivatives exchange, and the Korea Exchange (KRX), a leading Asian exchange, have received strong commitment and support from major market participants for the launch of their joint Eurex/KRX Link on 30 August. This Link comprises a cooperation to trade and clear options on Korea’s blue-chip index KOSPI 200 on Eurex during European and North American trading hours. | |||
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| Global Equity Index & ETF Research -- US Weekly ETP Market Review | |||
| April 15, 2010--New Listings and Delistings There were 3 listings in the previous week, all of them listed on NYSE Arca. Two of them track emerging market equity segments (size and sector) in Brazil and India, and the remaining ETF pursues an active strategy intended to create returns through a relative value investment approach. Net Cashflows Equity, Fixed Income and Commodity ETPs had inflows of $3.4 bn, $1.5 bn and $42 mm, respectively. Currency ETPs, on the other hand, experienced outflows of $157 mm. | |||
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| Deutsche Bank ETP Research: European equity investors remain on the sidelines | |||
| July 15, 2010--Weekly European ETP Market Roundup
Net Cash flows Equity markets rose but the holiday season has probably kicked-in. Overall European ETP cash flows pottered along in positive territory but yet equity cash flows failed to make the big leap forward and return to the market. While overall ETP cash flows remained positive they were very subdued as equity investors continued to stay out of the market. This is despite improving market conditions, the Euro Stoxx 50 index rose 4.3% for the post Q2’10 end period that ended July 9. The US market saw similar gains with the S&P 500 rising by 4.6% for the same period. | |||
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| Horizons AlphaPro Launches Canada's First Actively Managed Corporate Bond ETF | |||
| July 15, 2010--- Jovian Capital Corporation and its subsidiary AlphaPro Management Inc. ("AlphaPro"), the manager of the Horizons AlphaPro exchange traded funds ("ETFs",) is pleased to announce the launch of Canada's first actively managed corporate bond ETF, the Horizons AlphaPro Corporate Bond ETF (the "Corporate Bond ETF"). The Corporate Bond ETF will begin trading today on the Toronto Stock Exchange under the symbol HAB. | |||
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| ETF Stat June 2010-Borsa Italiana | |||
| July 15, 2010--The ETF Statistics of June 2010 of the Borsa Italiana are now available. | |||
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| Goldman to pay US$550M to settle SEC charges | |||
| July 15, 2010--The U.S. Securities and Exchange Commission says it has extracted its largest ever penalty from a Wall Street bank, a US$550-million settlement from Goldman Sachs Group Inc. over improper disclosure for one of its hedge funds. | |||
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| European institutional investors regaining appetite for risk | |||
| July 15, 2010--European transaction volumes in 2010 are expected to exceed those of last year following results from a survey that finds risk appetite has increased among institutional investors in the UK, Germany and France.
Union Investment's Investment Climate index, which tracks attitudes and expectations among European real estate professionals at six-month intervals, has reached 67.5 points, equalling the most recent high point in August 2009. | |||
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| Prospects for Growth and Imbalances Beyond the Short Term | |||
| July 15, 2010--Introduction The global financial and economic crisis and the ensuing recession left many OECD countries with a legacy of lower potential output, high unemployment and unsustainable government finances. While long-term growth rates may well have been unaffected by the crisis, the level of potential output is expected to have fallen by close to 3% in the OECD area as a whole. At the same time, a combination of fiscal stimulus measures, a loss of previous extraordinary revenue buoyancy, and cyclical revenue losses and expenditure hikes, has led to sharp increases in budget deficits, which are projected at almost 8% of GDP in 2011 on average in OECD countries. | |||
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| Bursa Malaysia Invites Feedback On Proposals Aimed To Enhance Levels Of Disclosure And Governance Practices | |||
| July 15, 2010--Bursa Malaysia today published two consultation papers seeking public feedback on proposals that are aimed to promote further transparency, quality and efficiency of the Malaysian capital market. | |||
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| First Trust Files with the SEC | |||
| July 15, 2010--First Trust has filed an application for exemptive relief with the SEC. | |||
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| US Senate passes financial reform | |||
| July 15, 2010--The US Senate finally passed a landmark reform of Wall Street on Thursday, delivering President Barack Obama’s second big legislative victory and ushering in a raft of restrictions on banks. | |||
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| CFTC to formulate rules on derivatives | |||
| July 15, 2010--The US agency poised to become the world’s top derivatives regulator has started work on a mountain of new rules for Wall Street even before financial reform legislation has been signed. | |||
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| Investors plan to flee funds of funds | |||
| July 15, 2010--More than a third of investors in funds of hedge funds plan to cut out the industry in future and move towards direct investment in single-name hedge fund managers, according to the results of a new survey. | |||
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| Dow Jones Indexes to Launch Indexes Measuring Long-Term Inflation Expectations | |||
| July 15, 2010--?Dow Jones Indexes today announced the launch of the Dow Jones Long-Term Inflation Indexes. This family of indexes measures the market’s expectation of the future rate of U.S. inflation. The indexes are intended to serve as the underlying basis of financial products such as exchange-traded funds, swaps and structured products. | |||
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| EU clears Bank of Ireland restructuring plan | |||
| July 15, 2010-- Europe's competition watchdog approved on Thursday a restructuring for Bank of Ireland which was launched after the Irish government rescued the struggling lender last year. | |||
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| Iraq to offer full crude volumes for August | |||
| July 15, 2010--Iraq is to supply crude to the majority of Asian term buyers at full contracted volumes for August, compared with an average 10% to 15% cut for July, Reuters has reported, citing oil traders. | |||
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| Europe must up CO2 cuts to 30 per cent: EU's big three | |||
| July 15, 2010--Germany, France and Britain on Thursday jointly called for the European Union to deepen its planned reductions in greenhouse-gas emissions from 20 to 30 percent by 2020. | |||
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| IEA predicts 1.6% rise in global oil demand in 2011 | |||
| Juky 15, 2010--According to the International Energy Agency (IEA), non-industrialised countries outside of the OECD region are expected to drive growth of global demand for crude oil next year by 1.6%, or 1.3 million barrels per day (b/d), Kuna has reported. | |||
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| Gold ETF Assets May Grow 8-Fold in Japan, Mitsubishi UFJ Says | |||
| April 17, 2010--Assets held in Japan’s first exchange-traded funds backed by gold and other precious metals may increase eight-fold in a year as investors seek to protect their wealth in the country with the world’s biggest public debt, its largest publicly traded bank said. | |||
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| Morningstar Reports U.S. Mutual Fund and ETF Asset Flows Through June 2010 | |||
| July 15, 2010-- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund asset flows through June 2010. After registering outflows in May, flows into U.S. mutual funds reached $13.5 billion in June. Mutual funds saw inflows in five of the last six months, gathering $166.7 billion in the first half of 2010, which is about 24% higher than total inflows for the same period in 2009. June marked the fifth consecutive month of inflows for U.S. ETFs. Investors poured more than $9.9 billion into ETFs during the month, bringing the year-to-date total to $34.0 billion. | |||
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| NYSE Euronext opens ‘NYSE Euronext London’ | |||
| July 15, 2010--– NYSE Euronext (NYX), the global leader in listings with more than 4,500 issuers on its U.S. and European markets has launched a new London-based securities market, ‘NYSE Euronext London’, aimed at attracting international issuers looking to list in London. NYSE Euronext London is complementary to NYSE Euronext’s other European securities markets and will enhance the visibility and prominence of its Continental Europe listing and trading venues. | |||
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| CFTC Chairman Gensler Comments on Passage of Wall Street Reform and Consumer Protection Act | |||
| April 15, 2010--Commodity Futures Trading Commission Chairman Gary Gensler today commented on the Senate passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The House of Representatives previously passed the bill, which now heads to the President’s desk. | |||
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| CFTC Issues Proposed Business Continuity and Disaster Recovery Regulation for DCMs and DCOs and Conforming Amendments to the Core Principle Guidance Applicable to DCMs. | |||
| July 15, 2010--The Commodity Futures Trading Commission (CFTC) today proposed a regulation that would establish a recovery standard for designated contract markets (DCMs) and derivatives clearing organizations (DCOs) that the Commission determines to be critical financial markets in the event of a wide-scale disruption that affects such entities’ trading or clearing operations. | |||
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| Kuwait Stock Exchange remains in up-and-down mood | |||
| July 15, 2010--The KSE Market Index ended 0.43% lower at 6,512.70 points as only the industrial index added value. Salbookh Trading posted the largest advance, closing 8.62% higher at KD0.063. | |||
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| Doha bourse fails to sustain above 7,000 points | |||
| July 15, 2010--Negative input from oversea markets dragged the Qatar Exchange (QE). The QE Index closed 0.78% lower at 6,963.53 points. Investors booked profits in the financial segment in particular. | |||
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| Abu Dhabi market declines slightly | |||
| July 15, 2010--Abu Dhabi's ADX General Index dipped slightly, closing at 2,523.78 points. Shares of real estate bellwether Aldar Properties ended 0.74% lower at Dhs2.67. Abu Dhabi Commercial Bank (ADCB) ended among the top gainers. ADCB shares added 1.79% and closed at Dhs1.70. | |||
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| Sell off in green themed funds continues | |||
| ESG screened funds also down as lack of equity market confidence bites. July 15, 2010--The post Copenhagen sell-off in green themed and norms-based European RI retail funds continued during May, with a broader lack of confidence in equity markets contributing to the slump. The sector was down by €373.9m over the month, according to the latest available figures compiled for Responsible Investor by Lipper FMI, the investment data group. | |||
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| ETF Landscape: European STOXX 600 Sector ETF Net Flows, week ending 09-Jul-10 | |||
| July 14, 2010--Last week saw US$119.4 Mn net inflows from STOXX Europe 600 sector ETFs. The largest sector ETF inflows last week were in Basic Resources with US$204.5 Mn and Telecommunications with US$21.2 Mn while Chemicals experienced net outflows of US$36.9 Mn. | |||
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| Direxion Lists Four ETFs on NYSE Arca | |||
| July 14, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading four ETFs sponsored by Direxion.
Direxion Daily Retail Bull 2X Shares (RETL) The Fund seeks daily investment results, before fees and expenses, of 200% of the price performance of the Russell 1000® Retail Index. The Fund seeks daily leveraged investment results and does not seek to achieve its stated investment objective over a period of time greater than one day. The Fund is different and much riskier than most exchange-traded funds. | |||
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| Esposito Securities Seeds Its First ETF | |||
| July 14, 2010-- Esposito Securities is proud to be seeding its first ETF with 2 creation units totaling $2.5M of the Mars Hill Global Relative Value ETF. The NYSE Euronext announced that on Friday, July 9, 2010, the "GRV" ETF was listed on NYSE Arca and began trading as a new issue. The Consolidated Tape Association (CTA) will disseminate real time trade and quote information for the ETF to Tape B. | |||
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| Horizons AlphaPro Launches S&P/TSX 60 Equal Weight Index ETF | |||
| July 14, 2010--AlphaPro Management Inc. ("AlphaPro"), the manager of the Horizons AlphaPro family of exchange traded funds ("ETFs"), is pleased to announce the listing of the first and only ETF in Canada to track the recently created S&P/TSX 60(TM) Equal Weight Index (the "Equal Weight Index"). The Horizons AlphaPro S&P/TSX 60 Equal Weight Index ETF (the "Equal Weight ETF") will begin trading today on the Toronto Stock Exchange (the "TSX") under the symbol HEW. | |||
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| UBS AG Exchange Traded Access Security (E-TRACS) Linked to the Alerian Natural Gas Index to begin trading on NYSE Arca | |||
| July 14, 2010-- NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the UBS AG Exchange Traded Access Security (E-TRACS) Linked to the performance of the Alerian Natural Gas Index due July 9, 2040. Issued by UBS AG, this exchange traded note is a senior unsecured medium-term note, which may issue a quarterly coupon during their term less the accrued fees. | |||
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| Eurex and Bombay Stock Exchange Partner to Launch Futures and Options on Indian SENSEX Index | |||
| Launch on 4 October 2010/ New listings are latest Eurex product offering targeting the Asia-Pacific region July 14, 2010--Bombay Stock Exchange (BSE), the Indian securities market operator and Eurex, the international derivatives exchange, today announced that they will launch futures and options on the SENSEX, the blue-chip index of the BSE, on 4 October 2010 at Eurex. The SENSEX Index tracks the daily performance of 30 of the largest and most actively traded companies listed on the Bombay Stock Exchange. It is a value-weighted index that represents approximately half of the float-adjusted market capitalization of all stocks traded on BSE. | |||
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| TABB Says Buy Side Use of Algorithms Will Rise to 35% in 2011, on Par with High-Touch Sales Traders for the First Time | |||
| New Research Details Low-Touch Trading Trends in the US Equity Markets Based on Interviews with 123 US-based Asset Managers and Hedge Funds July 14, 2010 – With asset managers and hedge funds in the US accounting for nearly one third of the share volume traded in 2010, up sharply from a low of 25% in December 2008, the overall effect on the institutional equity brokerage industry is a wash: trading volume is down but not as much as the rest of the industry. Meanwhile, TABB Group, in a new research report published today, says that the use of low-touch algorithms will reach 35% in 2011, for the first time on par with high-touch sales traders. | |||
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| Minutes of the Federal Open Market Committee, May 9 and June 22-23, 2010 | |||
| July 14, 2010--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on June 22-23, 2010 and of the conference call held on May 9, 2010. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the June 22-23, 2010 meeting is also included as an addendum to these minutes. | |||
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| SEC Votes to Seek Public Comment on U.S. Proxy System | |||
| July 14, 2010--The Securities and Exchange Commission today voted unanimously to issue a concept release seeking public comment on the U.S. proxy system and asking whether rule revisions should be considered to promote greater efficiency and transparency. | |||
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| Pimco makes U-turn on UK bonds | |||
| July 14, 2010--Pimco, the world’s second-biggest bond fund manager, has reversed its decision to cut exposure to the UK bond markets after this year’s impressive performance of gilts. | |||
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| Euro area annual inflation down to 1.4% | |||
| EU down to 1.9% July 14, 2010-Euro area1 annual inflation was 1.4% in June 20102, down from 1.6% in May. A year earlier the rate was -0.1%. Monthly inflation was 0.0% in June 2010. EU3 annual inflation was 1.9% in June 2010, down from 2.0% in May. A year earlier the rate was 0.6%. Monthly inflation was 0.0% in June 2010. These figures come from Eurostat, the statistical office of the European Union. | |||
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| New! Weeklys on DJX starting Thursday | |||
| July 14, 2010--Beginning Thursday, July 15, CBOE will add Weeklys options on The Dow Jones Industrial AverageSM (option ticker symbol: DJX). New DJX Weeklys series generally will be listed on Thursday mornings and the last trading day will be the following Thursday; they are “Friday a.m.” settled and expire on Fridays. | |||
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| Direxion Shares Launches Four New Leveraged ETFs | |||
| New Funds Offer Long and Short Exposure to the Retail and Natural Gas Related Sectors July 14, 2010---- Direxion, a pioneer in providing alternative investment strategies to sophisticated investors, is pleased to announce the launch of four new Direxion Shares Daily 2x ETFs to its existing lineup of multi-directional, leveraged funds. This brings the total number of leveraged ETFs offered by Direxion to thirty-eight. | |||
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| NYSE Arca to Introduce New Collar to Safeguard Market Orders | |||
| July 14, 2010-- NYSE Arca, a unit of NYSE Euronext (NYX), has filed with the Securities and Exchange Commission to introduce a new price collar designed to safeguard the execution of market orders. The new price collar will be introduced on July 15, 2010 and is the latest in a series of steps implemented to improve market practices and structure since the "flash crash" of May 6, 2010. | |||
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| Opening Statement Before the Technology Advisory Committee-Chairman Gary Gensler | |||
| July 14, 2010--Good afternoon. Thank you Commissioner O’Malia for chairing today’s meeting of the Technology Advisory Committee. This is the Technology Advisory Committee’s first meeting since its charter was renewed this year. The futures marketplace has evolved substantially over the course of the last decade. We’ve gone from open outcry trading to predominantly electronic trading platforms. In fact, in today’s futures marketplace, roughly 90 percent of the market is traded electronically. | |||
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| Tadawul bourse: resilient financials, sluggish petrochemicals | |||
| July 14, 2010--Riyadh's Tasi composite ended 0.67% lower at 6,174.74 points. While a number of banks bucked the downtrend, such as Samba (up 1.32% at SR57.50), investors booked profits at petrochemical leader Sabic (down SR2 at SR88.00) or Yanbu National Petrochemical Company (7.36% lower atSR39.00). | |||
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| Qatar Exchange recaptures 7,000-points level | |||
| July 14, 2010--The Doha-based QE Index ended at 7,018.48 points (up 0.85%) as trading volumes nearly doubled to some 3.9m stocks changing hands. Insurance firms in particular outperformed the market. Islamic insurance topped the charts by gaining 6.67%, closing at QR45.20. | |||
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| Bahrain bourse stabilizes | |||
| July 14, 2010--As trading interest nears meltdown in Manama, the BSE index added 0.05% and closed at 1,389.58 points. | |||
| read more | |||
| Trading of nine new ETFs begins on the Spanish stock exchange | |||
| TRADING OF NINE NEW ETFs BEGINS ON THE SPANISH STOCK EXCHANGE
July 13, 2010--This represents a significant increase in the number of underlying assets The Spanish stock exchange started trading nine new exchange traded funds (ETFs), issued by Lyxor Asset Management, today. This issue brings the number of ETFs listed on the Spanish stock exchange to 41, thus significantly increasing the number of underlying assets available with new international and sectorial equity indices, both in Asia and North America as well as fixed income indices. | |||
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| DB Index Research -- Weekly ETP Market Review -- Asia-Pacific | |||
| July 13, 2010--Market Overview There are 225 equity based ETFs in the Asia Pacific region with 313 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 40.87% of the whole market, whilst China has the largest market share by turnover with 36.52%. Mitsubishi UFJ Asset Management listed four commodity ETFs on Japan's Tokyo stock exchange which track precious metals such as Gold, Silver, Platinum and Palladium. | |||
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| FINRA to Make Additional Information About Brokers, Former Brokers Publicly Available Through BrokerCheck | |||
| Full Records of Brokers Leaving Industry to Remain Available for 10 Years; Criminal Convictions, Civil Injunctions, More to Remain Available Permanently July 13, 2010--The amount of information available to the public about current and former securities brokers will expand significantly in coming months, as the Financial Industry Regulatory Authority (FINRA) implements changes to its free, online BrokerCheck service recently approved by the Securities and Exchange Commission. | |||
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| European Repo Market White Paper emphasises importance of repo and urges reform of market infrastructure | |||
| July 13, 2010--ICMA’s European Repo Council (ERC) has today published a White Paper on the European repo market, including the role of short-selling, the problem of settlement failures and the need for reform of the market infrastructure. It emphasises the importance of the repo market for the efficiency and stability of the financial system. | |||
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| Commentary: Pessimism is the new black - the latest fashion | |||
| July 13, 2010--It is hard to recall a time when investor pessimism has been more in vogue than it is today. Yes, there is plenty of bad news to go around - imploding European economies, slipping US job growth, record deficits, and fears of a dreaded double dip. | |||
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| Borsa Italiana ETF Stat May 2010 Report | |||
| July 13, 2010--The ETF Statistics of May 2010 are now available. | |||
| read more | |||
| NYSE Euronext to List Non-U.K. Companies in London | |||
| July 13, 2010--NYSE Euronext plans to introduce a platform in London to list non-U.K. companies in a bid to compete with the London Stock Exchange Group Plc, according to a statement on the company’s Paris-based website. | |||
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| Direxion files with the SEC | |||
| July 13, 2010--Direxion has filed a post-effective amendment, registration statement with the SEC for Direxion Airline Shares, Direxion Auto Shares, Direxion Daily Canada Bull 2X Shares, Direxion Daily Canada Bear 2X Shares, Direxion Daily Russia Bull 2X Shares, Direxion Daily Russia Bear 2X Shares, Direxion Daily Agribusiness Bull 2X Shares, Direxion Daily Agribusiness Bear 2X Shares, Direxion Daily Gold Miners Bull 2X Shares, Direxion Daily Gold Miners Bear 2X Shares, Direxion Daily Home Construction Bull 2X Shares, | |||
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| Coalition Government launches consultation document on Bank Levy | |||
| July 13, 2010--Financial Secretary to the Treasury, Mark Hoban MP, today launched a consultation document on the Bank Levy. The document sets out issues around technical aspects of the design and implementation of the Bank Levy. This consultation exercise will help to ensure that the Levy is designed in a way that best meets its objectives, including ensuring the compliance costs faced by firms are minimised. | |||
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| Bank teams rush to set up new funds | |||
| July 13, 2010--The hedge fund industry is seeing a rush of start-ups amid a series of high-profile spin-outs from the in-house trading teams at investment banks. | |||
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| Highlights of the latest OMR | |||
| July 13, 2010--Highlights Benchmark crude prices traded in a $71-79/bbl range in June, after a volatile May, as continued negative sentiment tempered upside price moves. Financial and equity markets remained the focus of attention, and by early July Atlantic basin benchmarks touched four-week lows, before rebounding to around $75.00/bbl by the 12th of the month | |||
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| CESR Publishes 8th Extract from EECS’s | |||
| July 13, 2010--CESR has published Eight Extract From EECS’s Database Of Enforcement Decisions (Ref: CESR/10-834) | |||
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| CESR: EFRAG’s draft comment letter on the IASB’s Exposure Draft Fair Value Option for Financial Liabilities | |||
| July 13, 2010--The Committee of European Securities Regulators (CESR) has considered, through its standing committee on corporate reporting (CESR-Fin), EFRAG’s draft comment letter on the IASB’s Exposure Draft (ED) Fair Value Option for Financial Liabilities.
The ED is part of the IASB’s revision of IAS 39 – Financial Instruments: Recognition and Measurement, of which IFRS 9 – Financial Instruments: Classification and Measurement as published in November 2009 was the first part. | |||
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| EU vows transparency in bank stress tests | |||
| July 13, 2010-- EU finance ministers scrambled on Tuesday to ease market concerns over the health of European banks, vowing that results of tests on their ability to survive a new economic crisis would be transparent. | |||
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| EU moves forward on cross-border financial watchdogs | |||
| July 13, 2010-- European efforts to create cross-border watchdogs for the financial industry moved forward Tuesday after British fears over the powers to be entrusted to the new agencies were eased.
European finance ministers meeting in Brussels handed Belgium, which holds the EU's rotating presidency, a new mandate to negotiate with the European parliament in the hope of getting a vote in September. | |||
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| Nearly all EU states now on deficit watch | |||
| July 13, 2010--The European Union placed Bulgaria, Cyprus, Denmark, Finland under its excessive deficit watch on Tuesday, leaving only three of 27 EU states off the list of those breaking EU fiscal rules. | |||
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| HBSC launches ETF replicating MSCI Brazil index | |||
| July 13, 2010--HSBC has announced a series of emerging markets exchange-traded funds (ETFs), beginning with the HSBC MSCI Brazil ETF based on the MSCI Brazil Index.
The Ucits III-compliant ETF will have a total expense ratio (TER) of 0.6%. It will be domiciled in Ireland and initially listed on the London Stock Exchange with further registrations and cross-listings in Europe planned. | |||
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| Thomson Reuters All European Equities Market Activity by Trade Type (June 2009 to June 2010) | |||
| July 13, 2010--The Thomson Reuters All European Equities Market Activity by Trade Type (June 2009 to June 2010)report is now available. | |||
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| Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index | |||
| July 13, 2010-Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Tuesday, July 13, 2010:
Verena Minerals Corp. (TSXVN:VML) will change its name to Belo Sun Mining Corp. | |||
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| BofA Merrill Lynch Fund Manager Survey Finds Bear Market Sentiment Is Back | |||
| Investors Move out of U.S. and into Emerging Markets July 13, 2010--Investors have turned bearish in their outlook for the global economy and corporate earnings, according to the BofA Merrill Lynch Survey of Fund Managers for July. The survey shows a net 12 percent of respondents predicting the global economy will deteriorate in the coming 12 months, the first negative forecast since February 2009. This represents a big turnaround from June when a net 24 percent forecast the economy to strengthen. | |||
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| Presentation by Andrei Kirilenko, Senior Financial Economist, CFTC Office of the Chief Economist on High Frequency Traders and Asset Prices | |||
| July 13, 2010--Committee Meeting to Discuss Best Practices for HFT/ALGO. | |||
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| Too many 'active' funds are passive, study finds | |||
| July 13, 2010-- Institutional investors are paying for active management, but getting de facto benchmark huggers, according to a recent study.
The report – conducted by Germany's Union Investment and the WHU Otto Beisheim School of Management – covered the 52 master funds and 431 sub funds that Union had under administration for institutional clients between 2003 and 2008. | |||
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| Tradegate Exchange to Connect dwpbank | |||
| 1,600 institutions can gain access to second largest exchange for private investors July 13, 2010-- Tradegate Exchange and Deutsche WertpapierService Bank (dwpbank) have agreed on the technical connection of dwpbank to the exchange platform Tradegate. From the end of Q3 2010, dwpbank will provide its approximately 1,600 clients with market access to this Berlin-based trading venue geared to private investors. | |||
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| Swedish subsidiary of Boerse Stuttgart sets new trading record | |||
| Turnover exceeds EUR 551 million on Nordic Derivates Exchange (NDX) in first six months of 2010 July 13, 2010--The Nordic Derivates Exchange (NDX), which belongs to Boerse Stuttgart’s subsidiary Nordic Growth Market (NGM), has set a new record for turnover in the first half of 2010. With a trading volume of over SEK 5.2 billion (Swedish kronor) (equivalent to approximately EUR 552 million), turnover on the NDX was up more than 245 percent on the same period in 2009. | |||
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| Emerging Markets Week in Review -7/5/2010 - 7/9/2010 | |||
| July 12, 2010--The Dow Jones Emerging Markets Sector Titans Composite Index was up a strong 3.71% last week, its largest weekly increase since April. Financials and Consumer Services led the market up, increasing 4.74% and 4.39% respectively, while Utilities were up the least with a 1.23% return. | |||
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| Two new ComStage ETFs launched on Xetra | |||
| July 12, 2010-- Two new listed equity index ETFs issued by ComStage have been tradable in Deutsche Börse’s XTF segment since Monday.
ETF name: ComStage ETF HSI Asset class: equity index ETF ISIN: LU0488316729 | |||
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| Deutsche Bank ETF Research - Quarterly Update: Retreating to Safety | |||
| July 12, 2010--Despite strong Q2’10 inflows, falling equity markets take their toll by shaving over 10% off AUM and bringing 2010 YTD ETP market growth to -0.85%
Euro sovereign concerns and worries about the strength of the recovery in the US kept investors scratching their heads about the likely trajectory of equity markets. This situation put the quarterly growth of the global ETP market in negative territory (-0.85% YTD), despite strong cash flows ($44.1 billion) in both the US ($31.6 billion) and Europe (€9.8 billion) and Asia (estimated at $8 billion). The global ETP market shrunk by 4.1% in Q2’10 and experienced its first decline in the past five quarters. This quarter’s decline wiped out the 3.5% increase registered in Q1’10 AUM, bringing the YTD growth below zero at -0.85%. | |||
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| Deutsche Bank’s Exchange Traded Commodity Platform Lists Ten New ETCs On LSE | |||
| July 12, 2010--Deutsche Bank’s Exchange Traded Commodity (db ETC) platform today announces the listing of ten new Exchange Traded Commodities (ETCs) on the London Stock Exchange.
The new ETC range enables investors to gain simple and efficient exposure to a wide spectrum of commodities. This includes the db Physical Gold ETC and the db Physical Silver ETC that are backed by the relevant precious metal being tracked by the ETC. | |||
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| RYDEX|SGI Becomes Industry's Largest Provider of Alternative Investment Mutual Funds With the Launch of Four Funds (2) | |||
| Rydex|SGI Combines Quality Investor Education With a Broad Alternative Investments Lineup, Including 12 Alternative Mutual Funds and 9 Exchange Traded Products
July 12, 2010--Rydex|SGI continues to build on its reputation as a leading provider of alternative investments with the introduction of four mutual funds that may help investors weather the ups and downs of challenging market environments. The firm today announced the launch of the following funds: | |||
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| ETF Landscape Industry Highlights, End of Q2 2010-BlackRock | |||
| July 12, 2010-- United States ETF and ETP Industry end Q2 2010:
The US ETF industry had 846 ETFs, assets of US$693.2 Bn, from 30 providers on two exchanges. In June 2010 US domiciled ETFs/ETPs experienced net inflows totalling US$12.4 Bn. Fixed Income ETFs/ETPs saw positive flows with US$4.8 Bn net new assets, followed by North American equities with US$4.4 Bn net inflows, while Asia Pacific equities experienced US$0.5 Bn net outflows in June 2010. | |||
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| UK slump deeper than thought, gov’t spending key in Q1 | |||
| July 12, 2010--Britain’s record recession was even deeper than previously thought, and the economy could still have contracted in the first quarter of this year were it not for hefty government spending, official data showed on Monday. | |||
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| ETFs are sure bet for Qatar, Gulf bourses’ | |||
| July 12, 2010-- ETFs will boost liquidity and attract international investors to the region, according to Blackrock vice president Robert Blackwell Exchange traded funds (ETFs) are sure bet for Qatar as well as other Gulf bourses to increase the liquidity and to enhance global visibility for their listed entities, according to a UK-based asset management firm Blackrock. | |||
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| IQ Hedge Macro Tracker ETF (MCRO) Marks One-Year Anniversary | |||
| The Global Allocation Index ETF Posts Strong Results During Turbulent Period July 12, 2010--The IQ Hedge Macro Tracker ETF , a global allocation index Exchange-Traded Fund (ETF), marked its one-year anniversary on June 9th, the fund’s sponsor, IndexIQ, announced today. | |||
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| U.S. International Reserve Position | |||
| July 12, 2010--The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $126,723 million as of the end of that week, compared to $126,620 million as of the end of the prior week. | |||
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| Exchange-Traded Funds: US ETF Weekly Update-Morgan Stanley | |||
| July 12, 2010--Weekly Flows: $4.8 Billion Net Inflows Launches: 3 New ETFs Deutsche Bank Acquires XSharesAs ETFs had net cash inflows of $4.8 blnlast week, bouncing back from prior-week outflows Weekly flows driven by US Large-Cap ETFs; specifically SPY, which had net inflows of $5.1 billion-EM Equity has experienced stronger flows vs. International Developed Equity on a 1-, 4-, and 13-week basis | |||
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| Direxion files with the SEC | |||
| July 12, 2010--Direxion has filed a post-effective amendment, registration statement with the SEC for Direxion Daily S&P 500 Bull 3X Shares, Direxion Daily S&P 500 Bear 3X Shares, Direxion Daily Basic Materials Bull 3X Shares, Direxion Daily Basic Materials Bear 3X Shares, Direxion Daily Consumer Discretionary Bull 3X Shares, Direxion Daily Consumer Discretionary Bear 3X Shares, | |||
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| Risk and Trend Mapping No9 - 2010 risk and trend mapping for financial markets and retail savings | |||
| July 12, 2010--Introduction Risks identified and action taken in 2009 From the financial crisis to the economic crisis The AMF published its previous risk and trend mapping study in June 2009, when markets conditions were still highly volatile. The report highlighted the tensions prevailing in credit markets and the considerable uncertainty about future changes in asset prices and the balance sheets of banking and financial intermediaries. Accordingly, when monitoring the financial crisis, the AMF paid special attention to financial reporting by banks and the application of accounting standards. | |||
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| CESR launches a consultation on the advice to the Commission in the context of the MiFID Review – Client Categorisation | |||
| July 12, 2010--In the context of its review of the Markets in Financial Instruments Directive (MiFID), the European Commission (EC) posed a series of questions to CESR. The purpose of this consultation is to gather stakeholders’ views on client categorisation issues to assist CESR in its responses to the Commission’s questions on these issues. | |||
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| BNY Mellon Western Fund Management Company | |||
| July 12, 2010--The China Securities Regulatory Commission (CSRC) has authorized BNY Mellon and Western Securities to establish a joint venture fund management company in China. The new company, BNY Mellon Western Fund Management Company Limited, will be owned by BNY Mellon (49%) and Western Securities (51%). | |||
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| Securities sector seeks to fend off SEC drive | |||
| July 12, 2010--Proposals to narrow the pool of investors allowed in the US to buy complex asset-backed securities in private markets are being drawn up by the securitisation industry in an attempt to fend off a push by regulators to ban such deals outright. | |||
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| Economic Outlook: Inflation fears for China | |||
| July 12, 2010--Inflation figures are set to dominate the week’s economic releases, with June price statistics published in several countries, including the US, the eurozone states and the UK | |||
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| NYSE Euronext And Warsaw Stock Exchange Announce Strategic Partnership | |||
| Warsaw bourse to acquire state-of-the-art cash and derivatives trading platform provided by NYSE Technologies™ as part of a multi-year business partnership
Aims to strengthen WSE’s position as a regional hub for CEE Brings the potential to open WSE products to NYSE Euronext’s SFTI connected community Offers an order routing link to the leading market venue in the CEE region July 12, 2010--NYSE Euronext (NYX) and the Warsaw Stock Exchange (WSE) today announced the establishment of a strategic, long-term cooperation agreement covering the development of future mutually-beneficial business initiatives and the migration of WSE markets to NYSE Technologies™ Universal Trading Platform. Financial terms were not disclosed. | |||
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| BMO Investments Inc. Launches New Mutual Fund Portfolios of Exchange Traded Funds, Providing Investors More Access to the ETF Market | |||
| Strategic ETF portfolios combine many of the benefits of ETFs with mutual funds in a simple, easy to use investment option. July 12, 2010-- BMO Investments Inc., today announced the launch of a new series of four mutual fund portfolios that invest primarily in exchange traded funds (ETFs), giving investors broader choice and greater access to the growing ETF market. | |||
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| ASX to launch new ETF market making rebate scheme | |||
| July 12, 2010--The Australian Securities Exchange will introduce a new exchange-traded fund and exchange-traded commodity market making rebate scheme from 1 August 2010. | |||
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| CFTC Issues Proposed Rulemaking to Improve Account Ownership and Control Data | |||
| July 12, 2010--The Commodity Futures Trading Commission (CFTC) today approved for publication in the Federal Register a Notice of Proposed Rulemaking that calls for the collection of certain ownership, control and other information for all trading accounts active on U.S. futures exchanges and other reporting entities. The information will be collected via an account ownership and control report (OCR) submitted periodically to the CFTC by reporting entities. | |||
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| FESE Response to Public Consultation on Derivatives and Market Infrastructures | |||
| July 12, 2010--I. Introduction The Federation of European Securities Exchanges (FESE) represents 45 exchanges in equities, bonds, derivatives and commodities through 20 full members from 29 countries, as well as 7 Corresponding Members from European emerging markets. | |||
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| CFTC Announces Members of the CFTC’s Technology Advisory Committee – Committee to Meet on July 14, 2010 to Discuss Best Practices for HFT/ALGO | |||
| July 12, 2010--The first meeting of the CFTC’s Technology Advisory Committee (TAC), titled “Technological Trading in the Markets,” will be held on July 14, 2010 at 1:00 p.m., at the CFTC’s Washington, DC headquarters’ Hearing Room. The meeting will address the topics of algorithmic (Algo) and high frequency trading (HFT). Andrei Kirilenko, a Senior Financial Economist in the CFTC’s Office of the Chief Economist, will present his paper, High Frequency Traders and Asset Prices; Richard Gorelick of RGM Advisors, LLC, will present a high frequency trading firm’s perspective on HFT; and a representative from FIA will present the paper Market Access Risk Management Recommendations regarding standards on direct market access. | |||
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| Dubai market recaptures 1,500 points | |||
| July 12, 2010--Sunday marked the first day with stocks from the local bourse DFM and the international market Nasdaq Dubai being traded on the same platform, as both exchanges merge. Stimulated by a strong week debut at the Saudi bourse on Saturday, the DFM Index added 0.43% and closed at 1,506.27 points. Market bellwether Emaar extended its recovery, climbing 1.55% higher at Dhs3.27. | |||
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| NYSE Liffe U.S. to Become Sole U.S. Exchange for MSCI-Based Futures | |||
| For Futures on MSCI’s Emerging Markets and EAFE Indices, No Later Than June 2011, New Products Coming July 12, 2010--NYSE Liffe U.S., the U.S. futures exchange of NYSE Euronext (NYX), today announced that it will coordinate with its global customer base to complete the orderly transition of trading and open interest of all existing MSCI-linked stock index futures in the U.S. to its platform no later than June 17, 2011. Earlier today, MSCI announced that other contracts listed in the US under its existing licenses are expected to cease trading on that date. To ensure the transition is effective, NYSE Liffe U.S. will begin working with market participants immediately. | |||
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| Barbara Georg new manager for IPO candidates and listed companies | |||
| July 12, 2010-- With immediate effect, Barbara Georg (41) is to take responsibility for companies planning IPOs or already listed, as well as the further development of the stock exchange segments. She also remains responsible for securities listing on the cash market, a position she has held since 2006. | |||
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| NASDAQ OMX Introduces Nordic Last Sale for Professional Investors | |||
| New Market Data Product Responds to Professional Users' Demand for More Transparency, Unbundled Pricing, and a New, Lower Price July 12, 2010--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), the world's largest exchange company, today announced the introduction of a new product -- NASDAQ OMX Nordic Last Sale for Professional Users. NASDAQ OMX Nordic Last Sale for Professional Users carries real-time trade data for all executions on the NASDAQ OMX book as well as over-the-counter (OTC) trades reported to the NASDAQ OMX Trade Reporting Facility in Stockholm. | |||
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| NASDAQ Dubai routes trading via DFM platform | |||
| July 11, 2010--NASDAQ Dubai today started trading of all its listed equities through the trading platform of Dubai Financial Market (DFM) in a bid to boost the number of shares changing hands. The move, under preparation since December 2009, is part of a consolidation between the two exchanges that is unique in the Gulf Cooperation countries that comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. | |||
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| Dubai Gold And Commodities Exchange Weekly Views | |||
| July 11, 2010--Commodities Overview This week commodities prices could move sideways in a more volatile range than last week. Gold, silver, and crude oil in particular may test highs and lows this week, as investors, speculators, and traders battle to see which direction has the most power. | |||
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| AdvisorShares Lists Mars Hill Global Relative Value ETF on NYSE Arca | |||
| July 9, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, began trading Mars Hill Global Relative Value ETF(Ticker: GRV). The ETF is sponsored by AdvisorShares, and sub-advised by Mars Hill Partners LLC. | |||
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| New Standard Commodities Gold ETC Launched on Xetra | |||
| July 9, 2010-- A further gold ETC issued by the provider Standard Commodities Limited, the ETC platform of the Royal Bank of Scotland, has been tradable on Xetra since Friday.
ETC name: Standard Commodities Goldtracker Asset class: commodities ISIN: DE000A1ESY66 | |||
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| AdvisorShares files with the SEC | |||
| July 9, 2010--AdvisorShares has filed a post-effective amendment, registration statement with the SEC for The Active Bear ETF NYSE Ticker: HDGE | |||
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| Increasing demand may lower gold prices, says council official | |||
| July 9, 2010--World Gold Council Turkey President Cihan Göksel has said skyrocketing gold prices could drop gradually following an anticipated increase in demand from both domestic and foreign markets. | |||
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| Bursa Malaysia In Move To Support Exchange-traded Funds | |||
| July 9, 2010--Bursa Malaysia Bhd has rolled out several initiatives to support exchange-traded fund (ETF) listings and trading, which will help to improve the local market's liquidity and vibrancy. | |||
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| AdvisorShares Set to Launch First Actively Managed Long/Short ETF- Mars Hill Global Relative Value ETF (GRV) | |||
| July 9, 2010--AdvisorShares Investments, LLC, an innovator of actively managed ETFs, today announced that it will begin trading in the industry's first actively managed long/short ETF, the Mars Hill Global Relative Value ETF (NYSE: GRV) tomorrow, July 9th. GRV is sub-advised by Mars Hill Partners, LLC, an SEC-registered Investment Adviser and an affiliate of private wealth manager Huntley Thatcher Ellsworth, Ltd. | |||
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| Head of Issuer and Investor Markets Martin Steinbach leaves Deutsche Börse Group | |||
| July 9, 2010--Martin Steinbach (43), since 2000 with Deutsche Börse Group, Head of Issuer and Investor Markets and Executive Director left Deutsche Börse surprisingly at his own request, to take a new perspective. With Steinbach (holds a Master of Business Administration and a Ph.D.) Deutsche Börse looses an experienced manager and international expert in the primary market. | |||
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| CFTC.gov Commitments of Traders Reports Update | |||
| July 9, 2010--The Commitments of Traders Reports for the week of July 6, 2010 are now available. | |||
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| German regulator calls for regular stress tests for investment companies | |||
| July 9, 2010-- German regulator BaFin has unveiled new guidelines for German investment companies (KAGs) that will force them to conduct regular stress tests.
The new rules governing risk management for investment companies (InvMaRisk) were drawn up after changes to German investment law in 2007 meant the banking code MaRisk no longer applied to KAGs. | |||
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| CIMB-Principal to list more ETFs | |||
| July 9, 2010--CIMB-Principal Asset Management Bhd plans to list more Exchange-Traded Funds (ETFs) in future, given the tremendous demand for such funds globally, said Chief Executive Officer Campbell Tupling. | |||
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| Net outflows from funds continued in June | |||
| July 9, 2010--Domestic funds witnessed a net outflow for a successive month, in June, thanks to sucking out of money by banks and companies. Barring gold exchange traded funds, and liquid and money market funds, all other categories saw money flowing out of the fund houses' corpus. | |||
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| State Street updating study on ESG data | |||
| July 9, 2010--Project getting lots of interest from clients Global banking, asset management and custody group State Street is in the process of updating its own 2008 study which looked at the environmental, social and governance ratings offered by 11 commercial suppliers. It says the original study found that ESG-related issues have gradually exerted a stronger influence on economic performance over time | |||
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| NYSE Amex to Begin Trading Nasdaq-Listed Issues on July 13, Providing More Choice for Customers | |||
| July 9, 2010--NYSE Amex, a unit of NYSE Euronext (NYX), today announced that pending Securities and Exchange Commission approval, it will begin trading Nasdaq-listed issues on July 13, 2010 on an Unlisted Trading Privilege (UTP) basis, bringing a different market model to the trading of Nasdaq stocks. | |||
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| JSE surges ahead | |||
| July 9, 2010--The JSE ended on a strong note on Friday, bringing gains for the week to nearly 4% as Wall Street continued to cheer up local investors, who are turning attention to the kick-off of the earnings season in the US. | |||
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| Rand range-bound in light trade | |||
| July 9, 2010--The rand remained range-bound in late afternoon trade on Friday with a softer bias against the US dollar.
A local trader said the South African currency bounced off the near R7.50 rand vs the dollar level as the euro came off against the dollar. | |||
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| Bonds flat in late trade | |||
| July 9, 2010--South African bonds were flat in late trade on Friday, pretty much unchanged from earlier levels.
By 15:55 the short-term government R154 bond was bid at 6.515% after closing at 6.500% on Thursday and the medium-term R157 was at 7.730% from 7.735% at its previous close. | |||
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| France, Germany push EU on global bank tax | |||
| July 9, 2010--France and Germany want the European Union to keep up the fight for a global bank tax even though the proposal was rejected by the Group of 20, according to a letter released Friday. | |||
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| EU set to cap emission allowances from 2013 | |||
| July 9, 2010--The European Commission today adopted a decision which determines for the first time a ceiling or 'cap' on the number of emission allowances that will be available under the EU Emissions Trading System (EU ETS) in 2013, the first year of the 2013-2020 trading period. | |||
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| Frequently asked questions regarding Prospectuses: Common positions agreed by CESR Members | |||
| 11th Updated Version - July 2010 July 8, 2010--INTRODUCTION - The context and status of this ‘Q and A’: EU Legislation: The Prospectus Directive 2003/71/EC and the Commission’s Regulation on Prospectuses (EC 809/2004) became effective on 1 July 2005. The Prospectus Directive and accompanying Regulation establishes a harmonised format for Prospectus in Europe and allows companies to use this Prospectus to list on all European markets without having to re-apply for approval from the local regulator and by doing so, it is intended to help companies avoid the inherent delays and cost that this may involve. | |||
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| BlackRock Names Mike Latham Global Head of iShares | |||
| July 9, 2010-- BlackRock Inc. named Mike Latham global head of its iShares exchange-traded fund unit as part of a reorganization that unites U.S. and non-U.S. portions of the business. | |||
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| AdvisorShares Announces Partnership With Ranger Alternatives to Develop an Active Short ETF | |||
| Partnership Will Create a Solution That May Be Used as a Tool to Hedge Equity Exposure July 9, 2010--AdvisorShares Investments, LLC, an investment adviser to actively managed Exchange Traded Funds (ETFs), announced today a partnership with Ranger Alternative Management, L.P. (Ranger Alternative Management), a Dallas based investment manager, to develop an actively managed ETF which implements a Short only All-Cap Domestic Equity investment strategy. The proposed ETF would join AdvisorShares' growing stable of innovative actively managed ETFs which includes the Dent Tactical ETF and the Mars Hill Global Relative Value. | |||
| read more | |||
| New UK ETF Issuer: RBS launches a new range of Exchange Traded Funds on the London Stock Exchange | |||
| July 9, 2010--- New UK ETF Issuer: RBS launches a new range of Exchange Traded Funds on the London Stock Exchange, offering UK investors acess to a range of specialist opportunities in emerging markets and commodity indices. The six products listed are the Market Access DAXglobal BRIC Index Fund; the Market Access DAXglobal Asia Index Fund; | |||
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| FTSE/Xinhua China 25 Index is basis of first Chinese themed ETF in Malaysia | |||
| July 9, 2010--FTSE Xinhua Index Ltd (FXI), the leading Chinese index specialist, has licensed the FTSE/Xinhua China 25 Index to CIMB-Principal Asset Management Berhad (CIMB-Principal) as the basis of the first Chinese themed Exchange Traded Fund (ETF) in Malaysia, which lists today. | |||
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| Standard & Poor's Announces S&P/TSX Preferred Share Index Methodology Changes | |||
| July 9, 2010--Standard & Poor's Canadian Index Services announces the following modifications to the methodology of the S&P/TSX Preferred Share Index, which will become effective after the close of trading on Friday, July 16, 2010, with the second semi-annual review of the index in 2010:
There will be no limit to the number of preferred share issues from any given issuer. | |||
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| Global X Funds launches first Brazil Consumer ETF (BRAQ) | |||
| July 8, 2010--Global X Funds, the New York-based provider of Exchange Traded Funds, launched today the Global X Brazil Consumer ETF (ticker: BRAQ). This is the first ETF to offer targeted access to the rapidly growing Brazilian consumer sector. | |||
| read more | |||
| Global X Lists Global X Brazil Consumer ETF on NYSE Arca | |||
| July 8, 2010--–- NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading theGlobal X Brazil Consumer ETF (Ticker: BRAQ). The ETF is sponsored by Global X Funds. | |||
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| BlackRock Enhances Gold Offerings in U.S. to Meet Growing Investor Demand | |||
| July 8, 2010--On June 30, 2010, BlackRock announced two new initiatives to meet the growing demand for gold investing and make the gold market accessible to the broadest group of financial advisors, institutional and individual investors. These initiatives, which leverage the Firm’s capabilities across the globe and build on BlackRock’s leadership in gold products outside of the U.S. market, involve two distinct investment offerings for clients looking to invest in gold: | |||
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| Quarterly National Accounts - Contributions to GDP growth - First Quarter 2010, OECD | |||
| July 2, 2010--Real GDP in the OECD area grew by 0.6% in the first quarter of 2010 compared with the last quarter of 2009. Stockbuilding was the main contributor to OECD GDP growth for the third consecutive quarter. | |||
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| Deloitte: Turkish financial sector remains strong amidst global crisis | |||
| July 8, 2010--Turkey’s financial sector was less affected by the global financial crisis compared with other sectors and other countries, the findings of a study released yesterday show. | |||
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| European Parliament backs EIOPA and pension stability fund | |||
| July 8, 2010--Members of the European Parliament (MEPs) have backed plans to establish three new European Supervisory Authorities for financial services.
They have delayed, however, the vote on the legislative resolution to allow for further negotiations with the European Council. | |||
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| Deutsche Börse launches post-trade transparency product | |||
| MiFID Post Trade“ provides trading prices for all MiFID relevant instruments July 8, 2010-- Deutsche Börse is expanding its market data offering by launching a pure post-trade transparency product for its regulated exchanges. The new Information Product, “MiFID Post Trade”, provides trading prices and volumes for all MiFID relevant instruments traded on the Frankfurt stock exchange (Xetra and trading floor) as well as Tradegate Exchange. The data which is non-delayed and quality assured offers greatest transparency and more value than data that is available for OTC markets. | |||
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| iShares files with the SEC | |||
| July 8, 2010---iShares has filed a post-effective amendment, registration statement with the SEC for iShares MSCI ACWI ex US Utilities Sector Index Fund Ticker: AXUT | |||
| read more | |||
| iShares files with the SEC | |||
| July 8, 2010---iShares has filed a post-effective amendment, registration statement with the SEC for iShares MSCI ACWI ex US Telecommunication Services Sector Index Fund Ticker:AXTE | |||
| read more | |||
| iShares files with the SEC | |||
| July 8, 2010--iShares has filed a post-effective amendment, registration statement with the SEC for iShares MSCI ACWI ex US Materials Sector Index Fund Ticker:AXMT | |||
| read more | |||
| iShares files with the SEC | |||
| July 8, 2010--iShares has filed a post-effective amendment, registration statement with the SEC for iShares MSCI ACWI ex US Information Technology Sector Index Fund Ticker:AXIT | |||
| read more | |||
| iShares files with the SEC | |||
| July 8, 2010--iShares has filed a post-effective amendment, registration statement with the SEC for iShares MSCI ACWI ex US Industrials Sector Index Fund Ticker: AXID | |||
| read more | |||
| iShares files with the SEC | |||
| July 8, 2010--iShares has filed a post-effective amendment, registration statement with the SEC for iShares MSCI ACWI ex US Health Care Sector Index Fund AXHE | |||
| read more | |||
| iShares files with the SEC | |||
| July 8, 2010--iShares has filed a post-effective amendment, registration statement with the SEC for iShares MSCI ACWI ex US Energy Sector Index Fund Ticker: AXEN | |||
| read more | |||
| iShares files with the SEC | |||
| July 8, 2010--iShares has filed a post-effective amendment, registration statement with the SEC for MSCI All Country World ex USA Consumer Staples Index Ticker: AXSL | |||
| read more | |||
| iShares files with the SEC | |||
| July 8, 2010--iShares has filed a post-effective amendment, registration statement with the SEC for iShares MSCI ACWI ex US Consumer Discretionary Sector Index Fund Ticker: AXDI | |||
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| NFA looks to regulate funds operating managed futures | |||
| July 8, 2010--A US regulator is seeking to extend its reach to cover mutual funds sold to retail investors which operate an arcane hedge fund trading strategy called managed futures. | |||
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| Bank danger 'stress tests' now cover most EU risk: regulator | |||
| July 8, 2010--Tests of how European banks can face up to critical danger have been expanded to cover 91 banks, four times as many as last year, accounting for 65 percent of EU banking, regulators now say. | |||
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| Newedge appoints new CEO | |||
| July 8, 2010--Newedge, the world’s biggest futures brokerage, announced on Thursday that Nicolas Breteau had taken over as chief executive from Patrice Blanc, who the company said had quit “for personal reasons”. | |||
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| AdvisorShares Set to Launch First Actively Managed Long/Short ETF | |||
| July 8, 2010-- AdvisorShares Investments, LLC, a leading sponsor of actively managed ETFs, today announced that it will begin trading in the industry's first actively managed long/short ETF, the Mars Hill Global Relative Value ETF /quotes/comstock/13*!grv (GRV 25.49, +0.14, +0.55%) tomorrow, July 9th. GRV is sub-advised by Mars Hill Partners, LLC, an SEC-registered Investment Adviser and an affiliate of private wealth manager Huntley Thatcher Ellsworth, Ltd. | |||
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| NYSE Amex Options To Add Five Firms To E-Specialist Program - Timber Hill, Integral Derivatives, Wolverine Trading, Morgan Stanley And Susquehanna Securities - Adding Liquidity, Increasing Trading Opportunities And Narrowing Spreads For All Customers | |||
| July 8, 2010--NYSE Amex options today announced that on Monday, July 12 it will add five new firms to its e-Specialist program that initially began in February 2010. As new e-Specialists in approximately 650 option classes, Timber Hill, Integral Derivatives, Wolverine Trading, Morgan Stanley and Susquehanna Securities will be subject to NYSE Amex options market making conditions and heightened quoting requirements. e-Specialists are off-floor market makers that function alongside traditional Specialists and Market Makers within the exchange’s state-of-the-art hybrid trading platform to provide liquidity across more than 240,000 options series based on 1,932 underlying securities. | |||
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| Invesco PowerShares and Deutsche Bank Launch First Leveraged Bond Exchange Traded Notes | |||
| July 8, 2010--NEW YORK, Jul 07, 2010 -- On June 29 Invesco PowerShares Capital Management, LLC and Deutsche Bank launched two Exchange Traded Notes (ETNs) linked to CBOT Ultra T-Bond futures ("Ultra Bond futures").
PowerShares DB Ultra Bond ETNs Deutsche Bank has issued two ETNs linked to the Ultra Bond futures. The ETNs are traded on the NYSE Arca, listed as follows: PowerShares DB 3x Long 25+ Year Treasury Bond ETN: (NYSE Arca: LBND) | |||
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| Kuwait market dips 0.28% | |||
| July 8, 2010--Closing 0.28% lower at 6,430.9 points, the KSE Index was the only composite in the GCC which lost on Thursday. | |||
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| Qatari bourse eyes 7,000 points level | |||
| July 8, 2010--The Doha-located Qatar Exchange (QE) continued its step-by-step tactics and climbed 0.42% higher at 6,910.18 points. Real estate leader United Development Company (UDC) surged 2.14%, finishing at QR24.20. | |||
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| Abu Dhabi bank shares fickle | |||
| July 7, 2010--After two flat trading days, the ADX General Index showed some forms of a revival and closed 0.24% higher at 2,528.34 points. First Gulf Bank (FGB) stood 1.05% higher at Dhs14.50 as of the close of trading. | |||
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| DFM finishes the week on a positive note | |||
| July 8, 2010--Driven by positive inputs from the Wall Street and Asia, the Dubai Financial Market (up 1.19% at 1,499.81) points finished the week on a stronger note. Stock markets in East and West surged on Wednesday as a stronger Euro boosted commodity shares.Emaar Properties was the most liquid stock and the top gainer, closing 3.21% higher at Dhs3.22. | |||
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| Bahrain Reports Real GDP Growth of 70% in Last Decade | |||
| EDB Economic Review Forecasts Real GDP Growth of 7.2% in 2015 July 8, 2010--Bahrain enjoyed real GDP growth of 70 percent over the past decade according to a report out this week from the Kingdom’s Economic Development Board (EDB). This represents a sustainable growth rate in real GDP of more than six percent year-on-year. The EDB’s first Annual Economic Review details Bahrain’s economic performance over the past decade and forecasts continued, sustainable growth over the coming ten years. In addition to the 70 percent GDP growth, exports increased 116 percent, Bahraini employment rose by 39 percent and Bahraini wages increased 54 percent. | |||
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| GFSR Market Update (Formerly known as the Financial Market Update)-July 2010 | |||
| July 8, 2010--Despite generally improved economic conditions and a long period of healing after the failure of Lehman Brothers, progress toward global financial stability has recently experienced a setback. Sovereign risks in parts of the euro area have materialized and spread to the financial sector there, threatening to spill over to other regions and re-establish an adverse feedback loop with the economy. | |||
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| World Recovery Continues, But Risks Increase, Says IMF | |||
| IMF forecasts continuing global recovery
But renewed financial turbulence and euro area problems cloud the outlook Fiscal consolidation should be based on credible medium-term plans July 8, 2010--Balancing the strong growth numbers for the first half of 2010 and the adverse impact of increased financial turbulence, the IMF forecasts world growth to rise to 4 ½ percent this year, before falling somewhat to 4 ¼ percent in 2011—with the world average masking large differences around the globe. | |||
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| Deutsche Börse: Four new ComStage ETFs launched on Xetra | |||
| July 7, 2010--Three new listed equity index funds and an additional bond index fund issued by ComStage have been tradable in Deutsche Börse’s XTF segment since Wednesday.
ETF name: ComStage ETF DAX FR Asset class: equity index ETF ISIN: LU0488317024 Total expense ratio: 0.15 percent Distribution policy: distributing Benchmark: DAX Index (price index) | |||
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| Euro STOXX Small Index Licensed To Amundi ETF To Underlie Exchange-Traded Fund | |||
| July 7, 2010--STOXX Limited, a global index provider and creator of the leading European equity indices, today announced that the EURO STOXX Small Index has been licensed to Amundi ETF to underlie an exchange-traded fund. The AMUNDI ETF EURO STOXX SMALL CAP will be available at NYSE EURONEXT in Paris today. | |||
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| State Street to launch active funds, rebrand ETF range | |||
| July 7, 2010-- State Street Global Advisors (SSgA) is planning to launch a sectoral healthcare equity fund in a joint venture with ABP that will target the pharmaceutical, biotech and medtech industries.
The strategy will focus on the "growth drivers" of demographics, science and technology, aiming to take advantage of low sector valuations. | |||
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| NSX Releases June 2010 ETF Data Reports | |||
| July 7, 2010--Highlights from the June report include: Assets in U.S. listed Exchange-Traded Funds (ETF) and Exchange-Traded Notes (ETN) totaled approximately $787.5 billion at June 2010 month-end, an increase of approximately 30% over June 2009 month-end when assets totaled $603.2 billion. At the end of June 2010, the number of listed products reached 1009, topping 1000 for the first time, compared to 837 listed products at June 2009 month-end. | |||
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| Green Paper on pensions | |||
| July 7, 2010--Why is the Commission launching this Green Paper now?
European pension systems are under pressure from demographic ageing as a result of increases in longevity and declining birth rates. From 2012, the working age population in Europe will begin to shrink, so the challenge is very much upon us. Many Member States have been reforming their pension systems to varying degrees to meet this challenge, but the financial and economic crisis has made the situation more difficult and more urgent. | |||
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| ETF Landscape: European STOXX 600 Sector ETF Net Flows, week ending 02-Jul-10 | |||
| July 7, 2010--Last week saw US$103.0 Mn net inflows from STOXX Europe 600 sector ETFs. The largest sector ETF inflows last week were in Industrial Goods & Services with US$46.9 Mn and Chemicals with US$31.9 Mn while Banks experienced net outflows of US$50.0 Mn. | |||
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| Exchange-Traded Funds US ETF Weekly Update-Morgan Stanley | |||
| July 7, 2010--Weekly Flows: $8.6 Billion Net Outflows
- Largest Net Outflow of Year BlackRock Cuts Fee on Gold ETF to 25 bps 5 PowerShares ETFs Undergo Index & Name Changes | |||
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| New UBS AG 2x Leveraged Long Exchange Traded Access Security (E-TRACS) Linked to the Alerian MLP Infrastructure Index to begin trading on NYSE Arca | |||
| July 7, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the UBS AG 2x Leveraged Long Exchange Traded Access Security (E-TRACS) Linked to the Alerian MLP Infrastructure Index due July 9, 2040 (NYSE Arca: MLPL). Issued by UBS AG, this Exchange Traded Note is a senior unsecured medium-term note with a two times leveraged return linked to the compounded monthly performance of the Alerian MLP Infrastructure Index (the “Index”), which also pays a variable quarterly coupon linked to the leveraged cash distributions associated with the underlying Index constituents, less financing costs and investor fees. | |||
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| U.S. International Reserve Position | |||
| July 7, 2010--The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $126,620 million as of the end of that week, compared to $124, 970 million as of the end of the prior week. | |||
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| MEPs back root-and-branch reform of financial supervision | |||
| July 7, 2010--With an overwhelming majority, the European Parliament on Wednesday sent a strong message to EU Member States that the only option for effective financial supervision is one based on a thorough reform of the current system, with the establishment of European authorities capable of taking effective action to avert crises and avoid taxpayer bailouts. | |||
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| MSCI Japan Index-linked ETF to be Listed (managed by Nikko Asset Management Co., Ltd.) | |||
| July 7, 2010--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of the "Listed Index Fund Japan Equity (MSCI Japan)", an ETF managed by Nikko Asset Management Co., Ltd. | |||
| read more | |||
| Legg Mason files with the SEC | |||
| July 7, 2010--Legg Mason has filed an aplication with the SEC for exemptive relief -actively managed ETF. | |||
| read more | |||
| 4 years of ETFs listed on the Spanish stock exchange | |||
| Trading in this product has grown by over 140% during this period
July 7, 2010--Today is the fourth anniversary of the start of the Spanish stock exchange’s Traded Funds (ETF) segment. The new segment began on 20 July 2006 with trading in its first ETF, Accion ETF IBEX 35. Over these four years, the performance of ETFs on the Spanish market has been spectacular, with trading rising by 140% from €1.82 billion in the first half of 2006 to over €4.39 billion in the first half of the current year. | |||
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| Tighter coordination and planning to avoid future banking crises | |||
| July 7, 2010--A special system should be set up to ensure that crises are resolved earlier and to avoid rushed, weekend bank bailouts costing the taxpayer hundreds of billions of euros, says the European Parliament in a resolution passed on Wednesday. The growing size, complexity and interconnectedness of banks means that such a system must be established at European level. In the resolution, drafted by Elisa Ferreira (EPP, PT) and adopted by a show of hands, MEPs urge the European Commission to submit by the end of the year one or more draft laws relating to the management of cross-border crises in the banking sector. In particular they call for an EU crisis-management framework, an EU financial stability fund and a resolution unit within the European Banking Authority to deal with insolvencies of cross-border systemic banks. | |||
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| CESR publishes EFRAG’s draft response on the IASB’s Exposure Draft Conceptual Framework for Financial Reporting: The Reporting Entity | |||
| July 7, 2010--The Committee of European Securities Regulators (CESR), through its standing committee on corporate reporting (CESR-Fin), has considered EFRAG’s draft comment letter on the IASB’s Exposure Draft (ED) Conceptual Framework for Financial Reporting: The Reporting Entity. | |||
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| London Stock Exchange Group: 19.8 Million Electronic Equity Trades In June | |||
| July 7, 2010--London Stock Exchange Group PLC (LSE.LN), said Wednesday that in June, 19.8 million equity trades were carried out across the Group's electronic order books, with a combined value of GBP172.1 billion.
MAIN FACTS: -On the Italian equity order book, increased trading activity led to 9% year on year growth in the average daily number of trades, while the average daily value traded was up 42%. | |||
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| CEBS’S STATEMENT ON KEY FEATURES OF THE EXTENDED EU-WIDE STRESS TEST | |||
| July 7, 2010--Following its statement issued on 18 June 2010, CEBS provides further information on the EU-wide stress test exercise which is now being finalised by CEBS and the national supervisory authorities, in close cooperation with the ECB. | |||
| read more | |||
| Chi-X Japan Receives Launch Approval-Chi-X Japan's PTS license granted; trading expected to begin July 29 | |||
| July 7, 2010--TOKYO, Jul 06, 2010 (BUSINESS WIRE) -- Chi-X(R) Global Inc. today announced that its Japanese subsidiary, Chi-X Japan Limited, has been granted a PTS (proprietary trading system) License by the Japan Financial Services Agency (FSA). Trading on the Japanese equities platform is expected to begin July 29. | |||
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| FTSE Xinhua Quarterly Index Review Results | |||
| Huatai Securities (A) to be added to FTSE/Xinhua China A 50 Index
No change to FTSE/Xinhua China 25 Index July 7, 2010--, FTSE Xinhua Index (FXI) today announces the results of its quarterly index review. In the FTSE/Xinhua China A50 Index, which forms the basis of the world’s largest Chinese themed ETF, Huatai Securities (A Share, 601688) will replace Poly Real Estate Group (A Share, 600048). | |||
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| China rules out ‘nuclear option’ on T-bills | |||
| July 7, 2010--China has delivered a qualified vote of confidence in the dollar and US financial markets, ruling out the “nuclear option” of dumping its huge holdings of US government debt accumulated over the last decade. | |||
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| Wall Street rallies on State Street outlook | |||
| July 7, 2010--US stocks pushed higher for the second straight session on Wednesday as a positive earnings outlook from State Street boosted financials and outweighed concerns about the forthcoming earnings season.
There is a perception that the market is cheap relative to other asset classes and has been oversold over the past two months, said Sean Kraus, chief investment officer at Pasadena-based CitizensTrust. | |||
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| FESE Statement On Equity Market Data | |||
| July 7, 2010--Introductory Remarks: FESE members operate Regulated Markets (RMs) that offer a transparent and neutral trading infrastructure to trade equities, bonds and derivatives. Exchanges fulfil a valuable function with significant positive externalities. The whole market benefits from the price discovery function offered by exchanges, including the competitors of exchanges and a full spectrum of users and investors investing in the EU Market. | |||
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| Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices | |||
| July 7, 2010--Standard & Poor's Canadian Index Operations announces the following index changes:
Crescent Point Energy Corp. (TSX:CPG) has announced the completion of the acquisition of Shelter Bay Energy Inc. | |||
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| ESG issues ‘are’ financial risks for pension funds says influential Towers Watson head, Roger Urwin | |||
| Respected consultant predicts advent of ESG credit ratings. July 7, 2010--The assumption that environmental, social and governance (ESG) issues are ‘extra’-financial is wrong, but better metrics are needed to prove their short- to medium-term material impact on company performance, according to Roger Urwin, global head of investment content at Towers Watson, and one of the world’s most influential investment advisors. | |||
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| Index Data Monthly Report-Dow Jones | |||
| July 7, 2010--The following Index Data Monthly Report from Dow Jones are now available Index Data Monthly Report: UBS Commodity Indexes Index Data Monthly Report: Asia Pacific Edition | |||
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| Marcus gloomy on SA recovery | |||
| July 7, 2010-- The reality is the global economy probably never emerged from the crisis and this has significant implications for growth outlooks in South Africa, Reserve Bank Governor Gill Marcus said on Wednesday. | |||
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| Results of European bank 'stress tests' July 23: Merkel | |||
| July 7, 2010-- The results of "stress tests" to determine the financial health of the European banking sector will be published on July 23, German Chancellor Angela Merkel said Wednesday.
Speaking on rolling news channel N24, Merkel said the tests were "an important signal so that we can have more transparency in the system. | |||
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| EGShares Launches Industry’s First India Small Cap Exchange-Traded Fund | |||
| July 7, 2010--)--EGShares, the first dedicated emerging markets sector ETF provider, today launched the India Small Cap ETF (NYSE: SCIN), the first ETF that offers investors access to small capitalization companies in the world’s largest democracy. The Emerging Global Shares Indxx India Small Cap Index Fund invests in 75 publicly traded companies with market capitalizations between $100 million and $2 billion and is designed to track the performance of the Indxx India Small Cap Index. | |||
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| Thomson Reuters report: Middle East investment banking sector shows strong start in 2010 | |||
| July 7, 2010--The Middle Eastern Investment Banking Industry continues to grow with second quarter activity contributing to an impressive overall first half of 2010. The analysis, compiled by Thomson Reuters, shows that although the second quarter activity was at a lower level than the first quarter, there is still a strong foundation for which to build on for the remainder of 2010. | |||
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| Too soon to relax at Nasdaq Dubai | |||
| July 7, 2010--After two days of encouraging advances at the Nasdaq Dubai, the FTSE NASDAQ Dubai UAE 20 Index closed at 1514.460 today, down -26.880, or -1.74%, from the previous close as most regional indices took a dive on Wednesday. | |||
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| Tadawul bourse dips 1.13% | |||
| July 7, 2010--Saudi Arabia's Tadawul All Share Index ended at 6,065.32 points. Red Sea Housing landed at the bottom of the charts by losing 4.29%, closing at SR46.90. Only the Tadawul building and construction index (up 0.17%) gained among the industry segments. Shares of Saudi Ceramic surged 4.89%, finishing at SR139.50. Saudi Cement (0.22% lower at SR45.20) reported preliminary earnings for the second quarter of SR113m, down by a quarter on a year-on-year basis. | |||
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| Dubai market hit by profit booking | |||
| July 7, 2010--Ending with 14 decliners and seven gaining shares, the DFM Index failed to sustain its upward momentum from the start of the week and ended 0.86% lower at 1,482.12 points. The DFM share lost 2.67% (finishing at Dhs1.46). | |||
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| AMUNDI IS has listed 2 new ETF on NYSE Euronext’s Paris market today | |||
| July 6, 2010--NYSE Euronext is pleased to announce that AMUNDI IS has listed 2 new ETF on NYSE Euronext’s Paris market today: Listing date:06/07/2010 ETF name:AMUNDI ETF EURO STOXX SMALL CAP ETF ISIN:FR0010900076 ETF Symbol:ESM | |||
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| Emerging Markets Week in Review -6/28/2010 - 7/2/2010 | |||
| July 6, 2010--The Dow Jones Emerging Markets Composite Index declined for its second consecutive week, down 3.62% over concerns of slower than expected global growth in the second half of 2010. Utilities and Health Care, two of the more defensive sectors, were the best performing groups, down only 0.33% and 1.43% respectively. Materials led the market down for the week, losing 6.02%, and has been the worst performing sector so far in 2010. | |||
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| European ETF activity highlights for June 2010: NYSE Euronext | |||
| July 6, 2010--At the end of June, NYSE Euronext had 541 listings of 493 ETFs from 17 issuers. These ETFs cover more than 300 indices exposed to an extended range of assets and strategies (Equity, Fixed Income, Commodities, Short, Leverage, etc…). In June 2010, the number of ETFs increased by 18.5% compared to end of June 2009. So far this year, 46 new ETFs have been listed. | |||
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| 22nd meeting of the Market Participants Consultative Panel | |||
| July 6, 2010--Summary a risk of a double-dip, the return of sovereign risk, possibly serious refinancing problems in the commercial real estate sector, the amount of outstanding corporate debt and possibly rising default rates, the need for analyzing the corporate bonds market structure and the need for more investor education in light of vanishing boundaries between wholesale and retail markets. | |||
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| - FTSE RAFI Emerging Index Adopted by Daiwa Emerging Equity Fund | |||
| July 6, 2010--FTSE Group, the award-winning global index provider, has announced that its FTSE RAFI Emerging Index will be adopted by Daiwa Asset Management for an emerging market index fund being launched today. The Daiwa fund will be offered as a defined contribution (DC) pension investment option and will be the first to track the FTSE RAFI Emerging Index in Japan. | |||
| read more | |||
| EPEX Spot / EEX Power Derivatives: Power Trading Results in June | |||
| July 6, 2010--In the framework of their cooperation, the European Energy Exchange AG (EEX) and the French Powernext SA integrated their Power Spot and Derivatives Markets in 2009. In June 2010, a total volume of 136.4 TWh was traded on the joint subsidiaries EPEX Spot SE and EEX Power Derivatives. | |||
| read more | |||
| EEX Trading Results For Natural Gas And CO2 Emission Rights In June | |||
| Record volume on the Spot Market for Natural Gas – Considerable increase on the CO2 Derivatives Market July 6, 2010--The volume traded on the Natural Gas Spot Market of the European Energy Exchange AG (EEX) amounted to 2,418,071 MWh in June (June 2009: 86,880 MWh) (GASPOOL and NCG market areas) which constitutes the highest monthly volume since trading start. | |||
| read more | |||
| Launch of “IFRS 2010” Guide Book on International Reporting Standards at Istanbul Stock Exchange | |||
| July 6, 2010--A meeting will be held at the Istanbul Stock Exchange (ISE) on Monday, July 5, on the occasion of the launch of the “IFRS 2010” guide book, released by the International Accounting Standards Board (IASB), and covering the international standards on financial reporting. The whole set of the book is published in Turkish for the first time. | |||
| read more | |||
| Assessment of Securities Settlement in Sweden 2009 | |||
| July 6, 2010--Finansinspektionen and the Riksbank have jointly assessed the securities settlement in Sweden 2009.
The assessment is based on the Recommendations for Securities Settlement Systems in the European Union (ESCB/CESR) which consists of 19 recommendations. | |||
| read more | |||
| Denmark sets bar on transparency | |||
| July 6, 2010--Denmark’s banking industry does not have a large global reach – something made clear in the efforts of its mortgage banks to lobby other countries’ regulators to be heard in Basel.
But the industry’s officials could in fact have their own kind of global clout if recently introduced transparency laws are taken up elsewhere. | |||
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| AMF publishes the report of the working group on the MiFID review | |||
| July 6, 2010--For the review of the Markets in Financial Instruments Directive (MiFID), which will assess the directive's impact on the development and organisation of European equity markets, the AMF Board set up a working group chaired by Jean-Pierre Pinatton and Olivier Poupart-Lafarge in December 2009. The group, composed of all stakeholders, has now published its findings, which will contribute to ongoing discussions at domestic and European levels. | |||
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| EU bank supervision project stalls over powers | |||
| July 6, 2010--An EU project to create pan-European watchdogs to police the financial sector hit a snag Tuesday as negotiations between EU lawmakers and states stalled over how much power to give them. | |||
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| ETFs tough to White Label | |||
| July 6, 2010--Following the rising interest in Exchange Traded Funds (ETFs) in Australia, some financial planning groups are considering having their own branded ETFs - but that could be hard to do in practice due to structural issues, according to one ETF expert. | |||
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| Brazil Consumer ETF to Begin Trading in New York, Global X Says | |||
| July 6, 2010--The Global X Brazil Consumer ETF will begin trading in New York on July 8, said the chief executive officer of Global X Management Company LLC, the asset manager overseeing the exchange-traded fund. | |||
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| London calling: U.K.’s ETF Securities plans big commodities push in U.S. | |||
| July 6, 2010--ETF Securities, a London-based provider of exchange-traded funds, is planning a major push into the U.S. market with the launch of 18 commodities-based ETFs and a precious-metals basket ETF. | |||
| read more | |||
| Sabic shares surge 4.44% in Riyadh | |||
| July 6, 2010--Saudi Arabia's stock market posted the largest advance among GCC markets on Wednesday. With all Saudi sector indices finishing in the green, but mostly boosted by energy and oil related firms, the Tadawul bourse closed 1.58% higher at 6,125.73 points. Market heavyweight Sabic, the world's largest petrochemical firm, added 4.44%, ending at a four-week high at SR88.25. | |||
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| Nasdaq Dubai joins GCC rebound | |||
| July 6, 2010--The FTSE Nasdaq Dubai UAE 20 Index added 2.21% and finished at 1,541.34 points. Ports operator DP World extended its rebound form Tuesday, closing 2.86% higher at $0.432 on a high trading volume. | |||
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| db x-trackers steigert verwaltetes Vermögen auf 28,7 Milliarden Euro | |||
| July 5, 2010--db x-trackers, die Index-Tracking-Plattform der Deutschen Bank, hat ihr Wachstum fortgesetzt. Bis Ende Juni 2010 verzeichnete db x-trackers in den beiden Fondsgesellschaften db x-trackers und db x-trackers II insgesamt Nettomittelzuflüsse von 1,2 Milliarden Euro, das verwaltete Vermögen stieg auf 28,7 Milliarden Euro. In Europa nimmt db x-trackers damit die dritte Position unter den ETF-Anbietern ein und ist weltweit die Nummer fünf (Quelle: Deutsche Bank Research, Stand Juni 2010). Das Produktangebot von db x-trackers umfasst nun 156 ETFs aus allen Asset-Klassen. | |||
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| DGCX Indian Rupee Contract Achieves Record Day | |||
| DGCX Indian Rupee/Dollar futures contract reaches highest ever daily volume of 1,264 contracts, valued at US $53.8 million on July 1st, 2010
Total of 16,277 contracts traded on July 1st, 2010, the second highest daily volume for the exchange since inception July 6, 2010--The Dubai Gold & Commodities Exchange today announced that trading in the Indian Rupee/Dollar futures contract reached an all time daily high of 1,264 contracts and US $53.8 million notional value on July 1st, 2010. | |||
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| Over 50 Tons of Gold at Deutsche Börse Commodities | |||
| Record fund inflows and trading volumes for Xetra-Gold July 5, 2010--Deutsche Börse Commodities' gold reserve backing the Xetra-Gold bearer bond has grown to 50.038 tons. Each unit of the security is backed by exactly one gram of physical gold held in the vaults. At a price of €32.54 (Xetra price on 30 June) per unit of Xetra-Gold or per gram of gold, the current value of gold in custody is more than €1.6 billion. | |||
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| Twelve New Currency ETNs Issued by ETF Securities launched on Xetra | |||
| First emerging market currency ETNs with long or short exposure tradable on Xetra July 5, 2010--Eight additional euro-based currency ETNs and the first four emerging market-based currency ETNs, all issued by ETF Securities, are tradable on Xetra. “We are pleased to be further expanding Deutsche Börse’s ETP segment with ETF Securities’ innovative products. The currency ETNs newly listed on Xetra enable investors to further diversify their portfolios,” said Rainer Riess, Managing Director of Xetra Market Development at Deutsche Börse. | |||
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| Euro worries slam stock funds, Morningstar says | |||
| July 5, 2010-- -- Those with investments weighted toward stocks or stock-based funds are likely poorer now than they were three months ago, according Morningstar Canada’s quarterly statistics on equity-based funds. | |||
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| Barclays in talks with China fund managers on ETFs | |||
| July 5, 2010-- Barclays Capital is in talks with several Chinese fund managers to develop cross-border exchange-traded funds to be listed on the Shanghai bourse as China seeks to widen channels for its growing yuan savings.
Barclays Capital, the investment banking arm of Barclays Bank Plc | |||
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| Action to tackle unfunded spending commitments | |||
| July 5, 2010--The Chief Secretary to the Treasury today announced that four Departments have agreed to reductions in unfunded spending commitments totalling £1.5bn.
As set out in the Chief Secretary’s statement to Parliament on 17 June, the Government had identified inherited spending plans whose funding was reliant on underspending across Government through the End Year Flexibility (EYF) system or additional funding from the Reserve. | |||
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| IMF Managing Director Encourages Caribbean Countries to Face Challenges | |||
| Push Forward with Economic Reforms July 5, 2010--Dominique Strauss-Kahn, the Managing Director of the International Monetary Fund (IMF), gathered with Caribbean leaders in Montego Bay, Jamaica, for the 31st Regular Meeting of the Caribbean Community (CARICOM). “Caribbean countries have an opportunity to put an end to the negative cycles of high debt and low growth that have been affecting their economies, and set forth towards a path of long-term, sustainable growth”, Mr. Strauss-Kahn said. | |||
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| UK Official holdings of international reserves-June 2010 | |||
| July 5, 2010--This monthly press notice shows details of movements in June in the UK’s official holdings of international reserves, which consist of gold, foreign currency assets and International Monetary Fund assets. These reserves are maintained primarily so that the UK Government’s reserves could be used to intervene to support Sterling, or the Bank of England’s reserves could be used to support the Bank’s monetary policy objectives. If such interventions were to occur, then they would be shown and explained in this release. The Background note at the end of this release explains more about the reserves, and about these statistics. | |||
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| Majority of hedge funds see ‘trying’ year in 2010 | |||
| July 5, 2010--Hedge fund managers feel they aren’t out of the woods quite yet. Seven out of 10 said they expect a ‘trying’ year as the industry faces regulatory oversight and competition picks up with more funds likely chasing investment dollars, according to a survey by accounting and audit firm Rothstein Kass. | |||
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| FSA and SEC held the sixth meeting of the “FSA-SEC High-Level Dialogue | |||
| July 5, 2010--On June 29,2010,the Financial Services Agency (FSA) and the United States Securities and Exchange Commission (SEC) held a meeting of the “FSA-SEC High-Level Dialogues (Dialogue)” in Washington D.C., the sixth of the bilateral dialogue held on a regular basis. The Dialogue was led by the FSA Commissioner Mikuniya and the SEC Chairman Schapiro and attended by other senior staff members from both organizations. | |||
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| Daiwa buys KBC capital markets unit | |||
| July 5, 2010--Daiwa Capital Markets, the investment banking unit of Daiwa Securities, is set to pay $1bn for KBC’s global convertible bond and Asian equity derivatives businesses, in an effort to globalise further. | |||
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| CESR updates the list of measures recently taken by Members regarding short-selling. | |||
| July 5, 2010--CESR published on 22 September 2008 a statement that facilitates an overview of actions taken by CESR Members in relation to short-selling. The statement paper includes either the statements or links to the statements published by CESR Members explaining the measures taken. This paper is not a comparison of the measures taken. | |||
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| The Bermuda Monetary Authority Establishes Strategic Team of Senior Advisors | |||
| New role to support expanded regulatory framework resulting from Solvency II equivalence preparations July 4, 2010--The Bermuda Monetary Authority announced today that it has established a team of Senior Advisors that will provide international strategic input and technical assistance to the organisation as it prepares its insurance framework for Solvency II equivalence assessments. | |||
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| Eurozone purchasing index slows for second month: survey | |||
| July 5, 2010--A key leading indicator of growth in the eurozone slowed for the second month in a row in June amid weaker exports, waning domestic demand and a slowdown in orders, a reference survey showed on Monday. | |||
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| Deutsche Bank ETF Posts 51 Percent Income Fall | |||
| July 5, 2010--THE Deutsche Bank X-trackers MSCI FTSE 100 Trust reported a 51% fall in income for the year to December as a result of poor performances in most of the underlying company shares in the trust, it was announced on Friday. | |||
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| Tadawul market opens higher, ends lower | |||
| July 4, 2010--The Tadawul All Share Index (Tasi) fell for the sixth consecutive day. The Tasi opened positively but was forced back by selling pressure which mounted on financial and energy shares. Gulf General Cooperative Insurance Company was the top gaining share, ending 5.92% higher at SR32.20. Since the start of 2010 Gulf General surged 21.50%. | |||
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| Asset deflation continues at Kuwait bourse | |||
| July 4, 2010--Most shares across all sectors declined at the first day of the week in Kuwait, with KSE Market Index ending off 1.73% at 6,320.6 points. Banks and insurers posted heavy losses in particular. Industry bellwether National Bank of Kuwait (NBK) weakened by 3.5% and finished at KD1.1. Kuwait International Bank bucked the downtrend and advanced 1.06%, ending at KD0.190. | |||
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| Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index | |||
| July 5, 2010--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Monday, July 5, 2010: PanWestern Energy Inc. (TSXVN:PW) will change its name to Valeura Energy Inc. The new ticker symbol will be "VLE" and the new CUSIP number will be 919144 10 5. | |||
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| Supervisory board reshuffle for Stuttgart Stock Exchange | |||
| Dr Michael Völter and Dr Manfred Pumbo elected as new members.
Holger P. Härter resigns as Supervisory Board Chairperson. July 5, 2010--Dr Michael Völter, Member of the Management Board of SV Sparkassen Versicherung Holding AG, and Dr Manfred Pumbo, Head of Group Controlling at Wüstenrot & Württembergische AG, have been elected as new members of the Supervisory Board for the companies at the Stuttgart Stock Exchange. The elections of new members of the Supervisory Board of Boerse Stuttgart Holding GmbH, Boerse Stuttgart AG and of Euwax AG had become necessary after the death of Dr Jan Wittig and the resignation of Hans-Peter Bruker. | |||
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| RiskMetrics dissolves KLD index team ahead of MSCI Barra ESG benchmark launches | |||
| July 5, 2010--RiskMetrics, the New York-based risk and ESG data group, has dissolved the index team that it took over last year when it bought KLD, the Boston-based ESG research firm, as it prepares to launch a new series of ESG indices this month under new parent, MSCI Barra. | |||
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| Dubai Gold And Commodities Exchange Weekly Views-July 4, 2010 | |||
| July 4, 2010--Commodities Overview Commodity prices may stage small, hesitant recoveries this week, following the heavy sell-off last week. The selling last Thursday was inspired by concerns over global economic trends. There is a bearish sentiment abroad all financial markets that suggests the world economy is headed into renewed recession. These views are based on less than sterling economic data being released, but the view that all is bad in the major economies seems excessively negative compared to the actual data. | |||
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| How to Capitalize on Dollar Weakness | |||
| July 2, 2010--The euro has rallied against the US dollar in recent weeks, as we note PowerShares DB US Dollar Index Bullish (UUP) is down nearly 5% from its June 7 high of $25.84. | |||
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| XShares Group, Inc. Sells Exchange-Traded Fund Manager and Refocuses on Real Estate Fund Management | |||
| July 2, 2010--XShares Group, Inc. announced today that it has sold its principal operating subsidiary, exchange-traded fund manager XShares Advisors, LLC. XShares Group, Inc. will change its name to BNDRE Holdings, Inc. BNDRE Holdings will refocus its efforts on becoming a leading manager of distressed real estate in the U.S., an area in which the company has both expertise and opportunity. | |||
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| NYSE Lists 2 leveraged long-dated Treasury ETNs | |||
| July 2, 2010--On June 29, 2010, 2 leveraged long-dated Treasury ETNs began trading on the NYSE Euronext. The ETNs are The PowerShares DB 3X Long 25+ Year Treasury Bond Exchange Traded Note Ticker Symbol:LBND | |||
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| Listing of the Fruit of Gold series of four brands in Tokyo | |||
| July 2, 2010--Today, four Exchange Traded Funds (ETF) of the Fruit of Gold series (gold, platinum, silver and palladium) have commenced trading on the Tokyo Stock Exchange (TSE).
With Mitsubishi UFJ Trust and Banking Corporation as the trustee, each security is backed by physical allocated precious metal for the benefit of Fruit of Gold shareholders. The ETFs are based upon the futures price at Tokyo Commodity Exchange and calculated into the spot physical price for gold, platinum, silver or palladium The underlying physical metals are stored by Mitsubishi Corporation acting as custodian. | |||
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| Assets of Turkish banks increase 18 percent in May | |||
| July 2, 2010--The total size of Turkish banks’ assets had reached TL 879.31 billion as of the end of May, surging by 18 percent compared to one year earlier, a recent report has shown. | |||
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| SEC and Japan Financial Services Agency Hold Meeting of the SEC-JFSA Strategic Dialogue | |||
| July 2, 2010--Securities and Exchange Commission Chairman Mary Schapiro and Japan Financial Services Agency (JFSA) Commissioner Katsunori Mikuniya met in Washington, D.C., this week as part of the annual SEC-JFSA Bilateral High-level Dialogue. The purpose of the Dialogue, established in 2006, is to provide a forum whereby the senior officials of the two agencies can meet to identify and discuss issues of common concern affecting the U.S. and Japanese capital markets and promote areas of future collaboration. | |||
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| CESR publishes guidelines for the use of the Key Investor Information Document | |||
| July 2, 2010--The guidelines published today concern the methodology for calculation of the ongoing charges figure in the KIID and the methodology for the calculation of the synthetic risk and reward indicator in the KIID. | |||
| read more | |||
| Chinese fall triggers regional decline | |||
| July 2, 2010--Chinese equities’ biggest weekly drop for 16 months drove stocks in the region lower as growth fears suppressed any appetite for risk among investors. | |||
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| CME Group Volume Averaged 12.2 Million Contracts per Day in June 2010, Up 8 Percent, and 13.5 Million Contracts Per Day in Second Quarter, Up 31 Percent | |||
| July 2, 2010-- Double digit monthly year-over-year growth in equities, foreign exchange, energy and metals
- Second highest quarterly average daily volume ever - Record quarterly FX average daily volume of 1.0 million contracts, up 82 percent - Record quarterly energy average daily volume of 1.8 million contracts, up 29 percent - Record quarter for WTI and refined products, up 52 and 36 percent, respectively | |||
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| Private equity funds recovered from crisis | |||
| July 1, 2010--On June 28, 2010, Preqin reported; Private equity funds have recovered from some of the heaviest losses of the global downturn, research has shown.
Analysis of 5,000 funds worldwide by data provider Preqin found valuations increased 13.5% in 2009, almost erasing the losses of in 2008 which saw net asset values drop 15.8%. | |||
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| JSE pulls back ahead of US jobs data | |||
| July 2, 2010--The JSE gave up some earlier gains at noon on Friday as wary investors focused on the upcoming US non-payroll data, ignoring news that Australia has decided to replace a proposed Resource Super Profits Tax with a Mineral Resource Rent Tax (MRRT). | |||
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| Bonds firm further on rand | |||
| July 2, 2010-- South African bonds were firmer in midday play on Friday, on the back of a firmer rand, ahead of key US job data due later today. | |||
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| Rand tad firmer ahead of US jobs data | |||
| July 2, 2010-- The remained a tad firmer in midday trade on Friday ahead of the US employment data later in the day. A local dealer said the South African currency will likely find a new level against the US dollar after the jobs data. | |||
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| EU to increase investor protection in EU investment fund market | |||
| July 2, 2010--The European Commission has today completed a programme of improvements to the EU framework for investment funds. The new rules better empower investors by requiring a new standardised fund document, while also setting out in detail the high standards of conduct of business that investment fund managers must comply with. | |||
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| BNY Mellon Closes USD2.31bn PNC GIS Acquisition | |||
| July 2, 2010--BNY Mellon has completed its acquisition of PNC's global investment servicing (GIS) business. The GIS transaction doubles the number of funds serviced by BNY Mellon with accounting and administration. | |||
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| Financial transactions tax to happen... one day: Belgian PM | |||
| July 2, 2010-- The idea of a global tax on financial transactions has failed to gain traction around the world but it will become a reality in Europe "one day or another," the Belgium EU presidency said Friday. | |||
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| Fast ETF growth worries regulators | |||
| Exchange-traded funds in America held around $792b in assets by the end of May July 2, 2010--Even the best financial innovations have a nasty habit of spinning out of control. No surprise, then, that regulatory antennae are twitching at the rapid growth of exchange-traded funds (ETFs), investment pools that are listed on stockmarkets. ETFs have plenty of attractions, giving retail investors a relatively cheap way to diversify their holdings. But their dangers are also becoming more apparent. | |||
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| U.S. Department of the Treasury Economic Statistics - Monthly Data Update | |||
| July 2, 2010--The U.S. Department of the Treasury Economic Statistics - Monthly Data has been updated and is now available. | |||
| read more | |||
| Direxion shares executes reverse share split of four ETFs | |||
| July 2, 2010--Direxion, a pioneer in providing alternative investment strategies to sophisticated investors, will execute a 1-for-5 reverse split of the shares of the Direxion Daily Energy Bear 3x Shares (ERY), Direxion Daily Real Estate Bear 3x Shares (DRV), Direxion Daily Small Cap Bear 3x Shares (TZA) and Direxion Daily Technology Bear 3x Shares (TYP) for shareholders of record after the close of the markets on July 7th. | |||
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| Next Agricultural Advisory Committee Meeting to Examine Wheat Convergence and Other Topics | |||
| July 2, 2010--Commissioner Michael V. Dunn, Chairman of the Commodity Futures Trading Commission’s Agriculture Advisory Committee (AAC) and Commissioner Jill Sommers visited the Kansas City Board of Trade (DCBT) this week to meet with representatives of the exchange to discuss convergence issues related to KCBT wheat futures contract. | |||
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| CFTC.gov Commitments of Traders Reports Update | |||
| July 2, 2010--The CFTC.gov Commitments of Traders Reports has been updated for the week of June 29, 2010 and are now available. | |||
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| BNY Mellon ADR Index Monthly Performance Review is Now Available | |||
| July 1, 2010--The BNY Mellon ADR Index Monthly Performance Review isnow available. | |||
| read more | |||
| HSBC hires ex-Merrill Knight for new climate change research role as broker hiring spree continues | |||
| July 1, 2010--Banking giant HSBC has hired Zoe Knight, former senior director of socially responsible investing (SRI) research at Merrill Lynch in London, for a new role as director of climate change strategy. The hire by HSBC adds to the recent turnaround in the recruitment of sustainability analysts at investment banks after a cull in numbers during the credit crunch as costs were cut. | |||
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| ETF trading grew 33% in SGX | |||
| July 1, 2010--Trading of exchange traded funds or ETFs in the Singapore Exchange grew 33 per cent in its current financial year.
The growing popularity among investors also saw the number of ETFs doubled in the SGX. | |||
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| The Options Industry Council Announces June Trading Volume Down Slightly As First Half Volume Rose 10% | |||
| July 1, 2010--The Options Industry Council (OIC) announced today that 309,262,866 total options contracts were traded in June, a 2.03 percent decline compared to June 2009 volume of 315,656,061 contracts. However, year-to-date volume stood at 2,000,877,118 contracts and is up 10.22 percent over the first six months of last year when 1,815,316,203 contracts were traded. | |||
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| Xetra Turnover up 29 Percent in June | |||
| July 1, 2010-- In June, 111.4 billion euros were traded on Xetra and on the floor at Börse Frankfurt – an increase of 27 percent year-on-year (June 2009: 87.9 billion euros). Of the 111.4 billion euros, 105.5 billion euros were traded on Xetra, an increase of 29 percent year-on-year (June 2009: 81.7 billion euros). 5.9 billion euros were traded on the floor, a slight decrease by 5 percent (June 2009: 6.2 billion euros). | |||
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| ISE Reports Monthly Volume for June 2010 | |||
| July 1, 2010--The International Securities Exchange (ISE) today reported average daily
volume of 2.6 million contracts in June 2010. Average daily trading volume for all options contracts decreased 32.6% to 2.6 million contracts in June as compared to 3.9 million contracts during the same period in 2009. Total options volume for the month decreased 32.6% to 58.0 million contracts from 86.0 million contracts in the same year-ago period. | |||
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| Average Daily Volume of 10.9 Million Contracts at Eurex and ISE in June | |||
| Eurex monthly trading volume rose by 25 percent y-o-y July 1, 2010--At the international derivatives markets of Eurex, an average daily volume of 10.9 million contracts was traded in June (June 2009: 10.7 million). Thereof, 8.3 million contracts (June 2009: 6.7 million) were traded at Eurex; another 2.6 million contracts (June 2009: 3.9 million) were traded at the International Securities Exchange (ISE). The increase of Eurex turnover of 25 percent y-o-y is due to the increasing use of exchange-traded and centrally cleared derivatives in the current market environment, which was driven by high volatility and the dividend season. In total, 241.1 million contracts were traded on both exchanges compared with 232.5 million contracts in June 2009. | |||
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| ECX Monthly Report June 2010 | |||
| July 1, 2010--2010 ECX volumes passed the 3 billion tonne mark in June. 585,296 contracts were traded during the month, at an average of 26,604 per day. | |||
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| Deutsche Börse algo news feed now available in three data centers in London | |||
| July 1, 2010--The algo news feed AlphaFlash of Deutsche Börse – Market Data & Analytics will be available in three London data centers starting 15 July 2010. This raises the total number of data centers which provide direct access to this data feed to seven worldwide. AlphaFlash, a joint product of Deutsche Börse and the financial news agencies Need to Know News and Market News International, both entities of Deutsche Börse, delivers more than 150 machine readable macroeconomic indicators directly into trading algorithms. | |||
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| JSE Launches FTSE/JSE Equally Weighted Top 40 Index | |||
| July 1, 2010--Today the Johannesburg Stock Exchange (JSE) and global index provider FTSE Group (FTSE) announce the launch of the FTSE/JSE Equally Weighted Top 40 Index. The new index adds to the existing FTSE JSE Index Series, providing an alternative to indices constructed according to the market values of the companies (or market capitalisation weightings). It is also the first equally weighted index to be launched in South Africa within the FTSE/JSE Index Series. | |||
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| Investors seek clarity on euro rescue fund | |||
| July 1, 2010--Two months after European leaders unveiled a “shock and awe” €750bn rescue package to restore confidence in the eurozone, quite how their plan will work remains far from certain. | |||
| read more | |||
| Publication of the Finance Bill 2010 | |||
| July 1, 2010--The Government is today publishing the 2010 Finance Bill. The Bill will enact the key tax measures at the heart of the Emergency Budget package, to cut the unprecedented deficit, deliver fairness and promote enterprise.
In addition to this Finance Bill, which will quickly enact the Government’s priorities, there will be a further bill in the autumn. This will introduce minor, technical measures announced by the previous Government and will be published in draft later this month, to allow thorough pre-legislative scrutiny. | |||
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| Fears mount over slowing global demand | |||
| July 1, 2010--Fears grew that the global recovery is faltering on Thursday after a slew of data pointed to weaker global demand led by slower growth in China. | |||
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| NYSE Euronext and Markit to enhance post-MiFID market transparency | |||
| July 1, 2010--NYSE Technologies, the commercial technology unit of NYSE Euronext and Markit, the financial information services company, have announced the launch of a joint initiative designed to consolidate data and enhance transparency in the European over the counter (OTC) equity markets. | |||
| read more | |||
| Knight launches Knight Advisor Services, appoints ex Morgan Stanley team | |||
| July 1, 2010-- Knight Capital Group, Inc. (NYSE Euronext: KCG) has announced that it has established Knight Advisor Services to provide fixed income sales, trading and research to the investment advisor community.
A team of f ive experienced traders and relationship managers joined Knight from Morgan Stanley to form Knight Advisor Services. Joshua B. Zucker, Managing Director, leads credit sales and trading for the group. | |||
| read more | |||
| DTCC To Establish European-Based Trade Reporting Repository - Effort To Ensure Regulators Unfettered Access To Global CDS Data | |||
| July 1, 2010--The Depository Trust & Clearing Corporation (DTCC) announced today plans to establish a new subsidiary called DTCC Derivatives Repository Ltd., which will maintain global credit default swap data identical to that maintained in its New York based Trade Information Warehouse. | |||
| read more | |||
| Greenback suffers as buyers back yen | |||
| July 1, 2010--The yen surged to its highest level against the dollar so far this year as worries about the health of the global economy boosted haven demand for the Japanese currency. | |||
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| UKSIF calls for transparency on ESG investments | |||
| July 1, 2010--Pension funds should disclose how their responsible investment schemes are being implemented, according to UKSIF.
In a report published to coincide with the 10-year anniversary of environmental, social and corporate governance (ESG) regulation in the UK, the organisation also predicted web-based disclosure for responsible investments by pension funds would become commonplace. | |||
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| China plans route back for offshore funds | |||
| July 1, 2010--China plans to allow investors to channel renminbi deposits held offshore back into capital markets on the mainland, opening a new route for investors through the country’s strict capital controls. | |||
| read more | |||
| FTSE Group Announces Executive Appointments | |||
| July 1, 2010--FTSE Group (“FTSE”), the award winning global index provider, today announced the appointments of several global senior executives to support its continuing growth and bring further industry experience into the company. "FTSE continues to grow at a rapid pace, servicing institutional investors and financial intermediaries worldwide" said Mark Makepeace, Chief Executive Officer. "The new appointments deepen the company’s relationships within the industry, increase its management strength and expand its capacity for growth | |||
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| CME Group Announces Gold Futures Open Interest Record | |||
| July 1, 2010--CME Group, the world’s leading and most diverse derivatives marketplace, set a daily open interest record in its gold futures contract yesterday. Open interest reached 605,792 contracts, surpassing the previous record of 603,688 contracts on June 25. | |||
| read more | |||
| German pension funds focus on liquidity, poll says | |||
| July 1, 2010--Among German institutional investors, pension funds are the least concerned about security when making investment decisions, according to a poll commissioned by alternatives manager Aquila Capital. | |||
| read more | |||
| Testimony Before the Financial Crisis Inquiry Commission | |||
| Testimony of Chairman Gary Gensler Before the Financial Crisis Inquiry Commission July 1, 2010--Good afternoon Chairman Angelides, Vice Chairman Thomas and members of the Commission. I thank you for inviting me to today’s hearing to discuss the history of derivatives regulation and the role that over-the-counter derivatives played in the financial crisis. I also will address the historic legislation currently being debated in Congress that for the first time will bring much-needed comprehensive regulation to the over-the-counter (OTC) derivatives market. | |||
| read more | |||
| Highland Capital Management, L.P. files with SEC | |||
| July 1, 2010--Highland Capital Management, L.P. has filed for exemptive relief with the SEC. | |||
| read more | |||
| The progress of platinum group metal exchange traded funds (ETFs) | |||
| June 30, 2010--Two physically-backed platinum and palladium exchange-traded funds, or ETFs, were launched in the first half of 2007 in Europe. Exchange-traded funds exist in a wide variety of commodities, including gold and silver, and are constructed to allow investment into specific commodities without the investor having to take physical delivery or enter the futures markets. Investors can buy shares in these funds which are equivalent to a specific weight of either platinum or palladium and the performance of these shares replicates the performance of that metals price (less any management charges). | |||
| read more | |||
| Invesco PowerShares Appoints RiverFront Investment Group as Index Provider | |||
| June 30, 2010- Invesco PowerShares, a leading provider of exchange-traded funds, has announced the appointment of RiverFront Investment Group, LLC as index provider for two tactical, global allocation funds. | |||
| read more | |||
| Funds tap into GCC's carbon market | |||
| June 30, 2010--As news of some clean development mechanism projects initiated by the GCC governments begins to spread, funds managed by banks and financial institutions are descending on the region to tap CERs, or Certified Emission Reduction units, that can be traded on European climate exchanges. | |||
| read more | |||
| Testimony of Chairman Gary Gensler Before the Financial Crisis Inquiry Commission | |||
| July 1, 2010--Good afternoon Chairman Angelides, Vice Chairman Thomas and members of the Commission. I thank you for inviting me to today’s hearing to discuss the history of derivatives regulation and the role that over-the-counter derivatives played in the financial crisis. I also will address the historic legislation currently being debated in Congress that for the first time will bring much-needed comprehensive regulation to the over-the-counter (OTC) derivatives market. | |||
| read more | |||
| Kuwait approves $56bn budget | |||
| July 1, 2010--Kuwait has approved a 2010/11 state budget which increases spending by 67.2% from the previous fiscal year as the country aims to reduce its dependence on oil, Reuters has reported. The new budget projects a deficit of KD7.55bn with expenditure set at KD16.3bn, up from the KD9.75bn the OPEC member spent in the 2009/10 fiscal year. | |||
| read more | |||
| Kuwait market weakens 1.70% | |||
| July 1, 2010--Sell-outs at real state shares and industry stocks triggered another day of decline in Kuwait. The KSE Price or Market Index ended at 6,4317 points. Shares of Grand Real Estate Projects (down 27.78% at KD0.026) and Mena Real Estate Company (falling 16.39% at KD0.051) weighed on the market in particular. | |||
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| Dubai bourse rebounds 0.56% | |||
| July 1, 2010--Investors saw an encouraging start into the second half of 2010 as the DFM Index gained 0.56%, closing at 1,469.98 points. Global Investment House from Kuwait led the list of the winnin shares, jumping 8.33% higher at Dhs1.30. Other strong financials were Bank Emirates NBD (up 2.06% at Dhs2.48) and the DFM itself (advancing 1.40% atDhs1.45). Shuaa Capital ended flat at Dhs1.05. | |||
| read more | |||
| Qatar exchange opens higher, ends in the red | |||
| July 1, 2010--The Doha-located QE Index declined slightly (down 0.78%), finishing at 6,845.81 points. Banks and industry shares posted mostly losses. Doha Bank (0.89% lower at QR44.50) decided today to disclose its semi-annual results July 19. | |||
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| Banks weigh on Bahrain market | |||
| July 1, 2010--The Manama-based Bahrain All Share Index was pulled down 1.17% to 1,379.98 points by weak performing banks. The country's largest financial instutute Arab Banking Corporation (ABC) posted the largest loss, plummeting 9.82% at $0.505. | |||
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| Boerse Stuttgart reports turnover of 6.9 billion in June | |||
| July 1, 2010--In June 2010, Boerse Stuttgart had a turnover of some EUR 6.9 billion according to its order book statistics. Due to the Football World Cup and the traditional summer lull, trading volumes were down on the previous month's figures, as was expected. Growth came from investors' enthusiasm for bond trading at the Stuttgart Stock Exchange. | |||
| read more | |||
| DGCX Volume Hits All-Time Monthly High in June | |||
| July 1, 2010--Volume scales a new monthly high in June at 192,138 contracts
June also sees the highest ever monthly volume for Indian Rupee/Dollar futures at 12,159 contracts Total volume on Dubai Gold & Commodities Exchange (DGCX) rose to an all-time high in June at 192,138 contracts, surpassing the previous peak achieved in November 2009. | |||
| read more | |||
| BlackRock ETF Landscape Industry Review, May 2010 | |||
| June 30, 2010--GLOBAL
At the end of May 2010 the global ETF industry had 2,218 ETFs with 4,478 listings, assets of US$1,044.1 Bn from 131 providers on 42 exchanges around the world. | |||
| read more | |||
| Gold extends gains as ETF holdings hit record | |||
| June 30, 2010--Gold gained on Wednesday, June 30 after holdings in the world's largest bullion-backed ETF hit another record as investors sought safety from tumbling stock markets. | |||
| read more | |||
| ETF Landscape: STOXX Europe 600 Sector ETF Net Flows, week ending 25-Jun-10 | |||
| June 30, 2010--Last week saw US$129.6 Mn net outflows from STOXX Europe 600 sector ETFs. The largest sector ETF inflows last week were in Food & Beverage with US$26.3 Mn and Personal & Household Goods with US$21.6 Mn while Banks experienced net outflows of US$42.9 Mn. | |||
| read more | |||
| SEC to Publish for Public Comment Proposed Rules Expanding Stock-by-Stock Circuit Breakers | |||
| June 30, 2010--The Securities and Exchange Commission today is publishing for public comment proposals by the national securities exchanges and FINRA to expand a recently adopted circuit breaker program to include all stocks in the Russell 1000 Index and certain exchange-traded funds. | |||
| read more | |||
| NYSE Arca Tech 100 Index® Announces Change to Index Components | |||
| June 30, 2010-- NYSE Euronext Inc., today announced that the NYSE Arca Tech 100 Index® will replace the following constituent in the index as a result of a corporate action. The changes are effective as of market close on July 1, 2010.
Leaving the Index: Sybase Inc. (NYSE: SY) | |||
| read more | |||
| Van Eck files with the SEC | |||
| June 30, 2010--Van Eck has filed a post-effective amendment, registration statement with the SEC for Market Vectors High-Yield Municipal Index ETF (HYD) Market Vectors Intermediate Municipal Index ETF (ITM) | |||
| read more | |||
| Wisdom Tree files with the SEC | |||
| June 30, 2010--Wisdom Tree has filed an application for exemptive relief with the SEC. The Amended ETF Order would permit: existing and future Applicant Funds (as defined herein) to operate as “funds of funds” to the extent consistent with then applicable exemptive relief; and | |||
| read more | |||
| Securitisation drops 5% in second quarter | |||
| June 30, 2010--The amount of money raised through securitisation dropped in the second quarter of 2010 compared with the previous year, highlighting the slow pace of recovery in this once-dominant part of the capital markets. | |||
| read more | |||
| EU to broaden out bank stress tests: document | |||
| June 30, 2010-- The European Union is to extend the scope of its stress tests of banks' ability to withstand economic and financial shocks, according to a document seen by AFP on Wednesday.
In the face of investor concerns about the health of the European banking sector, EU leaders agreed earlier this month to publish the results of stress tests in July. | |||
| read more | |||
| U.S. One plans three new ETFs | |||
| June 30, 2010--A recent entrant to the world of exchange-traded funds is looking to launch new funds, including one that’s similar to a target date strategy. | |||
| read more | |||
| ETF Securities Gold Holdings Rise to a Record $10 Billion on Haven Demand | |||
| June 30, 2010--Gold held in ETF Securities Ltd.’s European exchange-traded products rose to a record $10 billion, accounting for half of the provider’s total global assets under management. | |||
| read more | |||
| KBW Announces Change to KBW Capital Markets Index | |||
| June 30, 2010--Keefe, Bruyette & Woods, Inc., a full-service investment bank that specializes in the financial services sector, and a wholly owned subsidiary of KBW, Inc., announces upcoming change to the KBW Capital Markets Index. | |||
| read more | |||
| Invesco PowerShares Announces Index and Name Changes for Five ETF Portfolios | |||
| June 30, 2010-- Invesco PowerShares, a leading provider of exchange-traded funds (ETFs), announced today that five existing portfolios will undergo index and name changes effective June 30, 2010. The following five ETF portfolios are affected by this change. The corresponding ticker symbols will remain the same.
PowerShares Autonomic Growth NFA Global Asset (NYSE Arca: PTO) PowerShares Autonomic Balanced Growth NFA Global Asset (NYSE Arca: PAO) PowerShares Autonomic Balanced NFA Global Asset (NYSE Arca: PCA) | |||
| read more | |||
| SPDR Gold Shares exceeds USD50bn in assets | |||
| June 30, 2010--Assets in the SPDR Gold Trust have surpassed USD50bn, according to State Street Global Advisors and World Gold Trust Services, a wholly-owned subsidiary of the World Gold Council. | |||
| read more | |||
| CBOE Expands Weekly Options By One Day | |||
| Allows Traders To More Easily "Roll" From One Weekly Expiration To Another June 30, 2010--The Chicago Board Options Exchange (CBOE) today announced that as of Thursday, July 1, all new Weekly options series listed at CBOE will begin trading on Thursdays and expire the following Friday. Prior to this change, new series were listed on Fridays. The additional day will expand market participants' ability to roll trades from one Weekly expiration to the next Weekly expiration. | |||
| read more | |||
| CESR publishes responses received to two consultations on Credit Rating Agencies | |||
| June 30, 2010--CESR has published the responses received to two consultations on Credit Rating Agencies. | |||
| read more | |||
| SEC Adopts New Measures to Curtail Pay to Play Practices by Investment Advisers | |||
| June 30, 2010--The Securities and Exchange Commission today voted unanimously to approve new rules to significantly curtail the corrupting influence of "pay to play" practices by investment advisers. | |||
| read more | |||
| Deutsche Bank’s €5.5bn pension funds aim to raise ESG allocation | |||
| June 29, 2010--Deutsche Bank says it has a long-term goal to expand on the current €100m it has solely invested in environmental, social and governance (ESG) criteria in its own €5.5bn pension funds. | |||
| read more | |||
| U.S. International Reserve Position | |||
| June 29, 2010--The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $124,970 million as of the end of that week, compared to $124,700 million as of the end of the prior week. | |||
| read more | |||
| Claymore Launches First Ever Inverse Government of Canada Bond ETF | |||
| June 29, 2010--Claymore Investments, Inc., a leading provider of intelligent exchange?traded funds (“ETFs”) in Canada, is pleased to announce the launch of the Claymore Inverse 10 Yr Government Bond ETF (CIB:TSX). | |||
| read more | |||
| DP10/3: Enhancing the auditor's contribution to prudential regulation | |||
| June 29, 2010--The FSA's Discussion paper 10/3 is entitled 'Enhancing the auditor's contribution to prudential regulation'. It was published in June 2010 and the period for responses closes on 29 September 2010. | |||
| read more | |||
| Eurex Plans to Expand European Index Derivatives Segment | |||
| Segment to include futures and options on EURO STOXX and STOXX Europe 600 indices as from 28 July June 29, 2010--The international derivatives exchange Eurex plans to extend its offering of futures and options on European size indices provided by STOXX Ltd. Four futures and four options based on the EURO STOXX® and the three corresponding sub-indices EURO STOXX Large, Mid and Small will be tradable as from 28 July. The new derivatives will enhance the existing offering of four futures and four options based on the STOXX Europe 600 Index and the three sub-indices STOXX Europe Large 200, STOXX Europe Mid 200 and STOXX Europe Small 200. | |||
| read more | |||
| European firms in China expect conditions to worsen: survey | |||
| June 29, 2010--European firms in China expect to face even tougher regulatory policies in the next two years, a survey released Tuesday showed, as fears mount that Beijing is trying to shut out overseas companies | |||
| read more | |||
| CESR Published A Comment Letter On EFRAG’s Draft Response On The IASB’s ED Financial Instruments: Amortised Cost And Impairment (Ref: CESR/10-713) | |||
| June 29, 2010--The Committee of European Securities Regulators (CESR) has considered, through its standing committee on corporate reporting (CESR-Fin), EFRAG?s draft comment letter on the IASB?s Exposure Draft (ED) Financial Instruments: Amortised Cost and Impairment. | |||
| read more | |||
| Jefferies files with the SEC | |||
| june 29, 2010--Jeffries has filed an amendment to Form S-1 for Jefferies Commodity Real Return ETF | |||
| read more | |||
| KRX to Adopt Global Industry Classification Standard (GICS) system | |||
| June 29, 2010--To make easy the comparison between the Korea Standard Industrial Classification (KSIC) and Global Industry Classification Standard (GICS), the Korea Exchange (KRX) plans to make available the GICS industry code of listed company along with the existing KSIC industry code from July 1, 2010. The details to be published on the KRX Webpage include the name and code of the GICS sector and industry group and the market data such as the price and trading volume of the listed company. | |||
| read more | |||
| Economic Sentiment Indicator remains unchanged | |||
| June 29, 2010--In June, the Economic Sentiment Indicator (ESI) remained broadly unchanged at 100.1 (down by 0.1 points) in the EU and at 98.7 (up by 0.3 points) in the euro area. Among the largest Member States, the UK (-3 points) reported the biggest drop in sentiment (especially in industry), followed by France (-2.3) and the Netherlands (-2.0). | |||
| read more | |||
| The Conference Board Consumer Confidence Index® Drops Sharply | |||
| June 29, 2010--The Conference Board Consumer Confidence Index® which had been on the rise for three consecutive months, declined sharply in June. The Index now stands at 52.9 (1985=100), down from 62.7 in May. The Present Situation Index decreased to 25.5 from 29.8. The Expectations Index declined to 71.2 from 84.6 last month. | |||
| read more | |||
| Active funds found to outperform in bull markets | |||
| June 29, 2010--Active fund managers do outperform in many circumstances, including most bull markets, a study of 30 years of performance for $7,000bn worth of US mutual funds has found. | |||
| read more | |||
| Aluminum ETF Girds For Launch | |||
| June 29, 2010--An exchange-traded fund based on aluminum could launch as soon as next month, according to a Bloomberg report. | |||
| read more | |||
| US ETF assets down 5.8 pct in month ended May-ICI | |||
| June 29, 2010--Assets traded in the U.S.
exchange traded funds (ETFs) universe fell 5.8 percent in May
to $783 billion, monthly data issued by the Investment Company
Institute showed on Tuesday.
For the year ended May, however, ICI, the mutual fund industry's trade group, said ETF assets grew by 34.6 percent or $201.13 billion. | |||
| read more | |||
| Vanguard plans broad expansion of index offerings | |||
| June 28, 2010-On June 24, 2010, Vanguard has announced plans to introduce 19 new index funds with ETF Shares. The firm will also launch ETF Shares of its flagship Vanguard® 500 Index Fund. | |||
| read more | |||
| STATE STREET RENAMES EXCHANGE TRADED FUNDS: ETFs Adopt SPDR® Family Brand | |||
| June 29, 2010--State Street Global Advisors (SSgA), the investment management business of State Street Corporation (NYSE: STT), today announced that its French-domiciled exchange traded funds (ETFs) have been renamed to align with its global SPDR® family of exchange-traded products. | |||
| read more | |||
| Source launches the first European ETF on the S&P 500 VIX Futures Index | |||
| June 28, 2010--Source today announced the launch of its new S&P 500 VIX Futures ETF. The fund is the first volatility-linked ETF in Europe to track the S&P 500 VIX Short-Term Futures Total Return index (the “Index”) and has a 0.60% per annum management fee. | |||
| read more | |||
| FSA publishes review of with-profits sector | |||
| June 29, 2010--The Financial Services Authority (FSA) has today published the findings of its comprehensive review into the operation of with-profits funds. | |||
| read more | |||
| UK green bonds proposal targets pension funds | |||
| June 29, 2010--Green bonds targeted at institutional investors are a key part of new proposals to fund climate change projects in the UK. | |||
| read more | |||
| EDHEC-Risk Study Finds No Theoretical or Empirical Justification for Cap-Weighted Indices | |||
| June 29, 2010--After the financial crisis and the accompanying falls in the stock markets, many commentators have questioned the appropriateness of tracking cap-weighted indices. These indices are particularly inefficient and, through their momentum properties, favour the emergence of speculative bubbles. | |||
| read more | |||
| Saudi market falls on oil price decline | |||
| June 29, 2010--The Riyadh-located Tadawul market plummeted 2.65%, closing at 6,135.86 points as oil prices were hit by worrying data from East Asia and by comments made by the Bank of International Settlements (BIS) about an alleged weak status quo of the global financial sector. Consequently market leader and petrochemical giant Saudi Basic Industries Corporation (Sabic, off 3.87% at SR87) and a number of banks posted heavy losses. | |||
| read more | |||
| First-Ever Report on UK ETF Market Charts Dynamic Evolution, Growth Prospects for Exchange Traded Funds | |||
| June 28, 2010--Use of exchange traded funds (ETFs) in the UK will likely get a push from Independent Financial Advisors who increasingly turn to the vehicle in response to the Financial Services Authority’s new regulations promoting investor trust and confidence, according to a new report on the UK ETF market released today by BlackRock’s Global ETF Research and Implementation Strategy group – the first such report ever produced on ETFs in the UK. | |||
| read more | |||
| U.S. Exchanges Said to Seek Broader Scope for Trading Curbs | |||
| June 28, 2010--U.S. stock exchanges will propose doubling the number of companies covered by a two-week-old test of trading curbs and expanding the program to include hundreds of exchange-traded funds, according to two people with direct knowledge of the matter. | |||
| read more | |||
| Emerging Markets Week in Review -6/21/2010 - 6/25/2010 | |||
| June 28, 2010--The Dow Jones Emerging Markets Composite Index declined 0.69% last week despite the PBOC's decision to remove the yuan's peg to the US dollar. Consumer Goods gained 0.12% as the only positive sector for the week and remains one of the best performing groups year to date. | |||
| read more | |||
| Van Eck files with the SEC | |||
| June 28, 2010--Van Eck has filed a post-effective amendment, registration statement with the SEC for Market Vectors Minor Metals ETF | |||
| read more | |||
| Deutsche Börse Improves Xetra Efficiency | |||
| June 28, 2010--Deutsche Börse launched a new version of Xetra on Monday with Release 11.0, further improving the efficiency of the pan-European trading system. “Deutsche Börse has improved the market quality of Xetra yet again with Release 11.0. The functionality and speed of our trading system and the provision of liquidity will be improved,” said Rainer Riess, Managing Director of Xetra Market Development at Deutsche Börse. | |||
| read more | |||
| Index IQ files registration with SEC | |||
| June 28, 2010---Index IQ has filed a Amendment No. 5, registration statement with the SEC for IQ ALPHA Hedge Strategy Fund | |||
| read more | |||
| Index IQ files with the SEC | |||
| June 28, 2010--Index IQ has filed a post-effective amendment, registration statement with the SEC for IQ Hedge Multi-Strategy Tracker ETF Cusip:45409B107 Ticker: QAI | |||
| read more | |||
| Direxion files with the SEC | |||
| June 28, 2010--Direxion has filed a post-effective amendment No.12, registration statement with the SEC for Direxion Daily S&P 500 Bull 3X Shares, Direxion Daily S&P 500 Bear 3X Shares, Direxion Daily Basic Materials Bull 3X Shares, Direxion Daily Basic Materials Bear 3X Shares, Direxion Daily Consumer Discretionary Bull 3X Shares, Direxion Daily Consumer Discretionary Bear 3X Shares, Direxion Daily Consumer Staples Bull 3X Shares | |||
| read more | |||
| Chairman Schapiro Statement on Regulatory Reform Legislation | |||
| June 28, 2010--The following is a statement from SEC Chairman Mary L. Schapiro regarding legislation to be considered this week by the Congress:
"On Friday, Congress took a giant step toward achieving important comprehensive financial regulatory reform. | |||
| read more | |||
| Claymore Adds Key Talent to Enhance Private Client Group | |||
| June 28, 2010--Claymore Securities, Inc., an innovator of investment product solutions and a wholly-owned subsidiary of Guggenheim Partners, LLC, announced today the addition of several senior professionals focused on growing the firm’s service and distribution excellence in the private client business. | |||
| read more | |||
| CBOE Weeklys to Start on Thursdays | |||
| June 28, 2010--Beginning on Thursday, July 1, 2010 all new Weekly option series at CBOE will begin trading on Thursdays and expire the following Friday, offering expanded ‘roll’ opportunities, especially key for SPX Weeklys traders. Previously, new Weeklys series were listed on Fridays and expired the following Friday. | |||
| read more | |||
| FSA confirms list of Retail Distribution Review adviser qualifications | |||
| June 28, 2010--The Financial Services Authority (FSA) has today published the final list of qualifications retail investment advisers will need to pass before 1 January 2013. This provides the certainty advisers need to prepare for the implementation of Retail Distribution Review (RDR) requirements. | |||
| read more | |||
| Van Eck files with the SEC | |||
| June 28, 2010--Van Eck has filed a post-effective amendment, registration statement with the SEC for Investment Grade Floating Rate Bond ETF Ticker:FLTR | |||
| read more | |||
| Van Eck files with the SEC | |||
| June 28, 2010--Van Eck has filed a post-effective amendment, registration statement with the SEC for Emerging Markets Local Currency Bond ETF Ticker Symbol:EMLC | |||
| read more | |||
| iShares files with the SEC | |||
| June 28, 2010--iShares has filed a post-effective amendment, registration statement with the SEC for iShares 10+ Year Credit Bond Fund Ticker: CLY | |||
| read more | |||
| FSA supervisory chief to quit | |||
| June 28, 2010--The Financial Services Authority has lost the second of its two managing directors as it prepares to split itself in two to comply with the new government’s plan to shake up financial regulation. | |||
| read more | |||
| Swiss franc hits fresh record against euro | |||
| June 28, 2010--The Swiss franc hit a fresh record high against the euro on Monday after a Swiss National Bank official added to market sentiment that the central bank had stopped intervening to stem gains in its currency. | |||
| read more | |||
| EU reviews options for revised Market Abuse Directive | |||
| June 28, 2010--The Commission services have launched a public consultation on the review of the Market Abuse Directive. Its objective is to consult financial market participants, governments, competent authorities and other stakeholders on the modifications to the Market Abuse Directive that the Commission is considering for its forthcoming legislative proposal. | |||
| read more | |||
| Bankers pore over Wall St reform details | |||
| June 28, 2010--Some of the largest commodity traders on Wall Street could face changes under the US financial reform bill advanced by lawmakers last week, with some banks being forced to spin off the units that handle assets such as oil, gas, coal and industrial metals. | |||
| read more | |||
| ETF Securities Gold Holdings Increase to a Record $10 Billion | |||
| June 28, 2010--Gold held in ETF Securities Ltd.’s European exchange-traded products rose to a record $10 billion, accounting for half of the provider’s total global assets under management. | |||
| read more | |||
| S&P Report Outlines Possible Corrective Steps For Gulf Investment Companies As They Seek To Revamp For Recovery | |||
| June 28, 2010--Some investment companies in the Gulf will likely find it difficult to pursue their operations without dramatic changes in the wake of the global financial downturn, said Standard & Poor's Ratings Services in a new report published today, titled "Gulf Investment Companies Face The Need To Rethink Their Business Models And Financial Policies." | |||
| read more | |||
| Saudi GDP to rise 4% in 2010 | |||
| June 28, 2010--Saudi Arabia's Samba Financial Group has said that real GDP and the non-oil sector in the kingdom will grow by 4% this year as oil production increases, while inflation will stabilise at an annual average of 5%, Reuters has reported. | |||
| read more | |||
| UAE to maintain dirham's dollar peg, says Dubai's ruler | |||
| June 28, 2010--The UAE will keep the dirham's peg to the dollar and has no plans to rejoin the planned Gulf monetary union "for the time being," Dubai's ruler, Sheikh Mohammed Bin Rashid Al Maktoum, told CNN. | |||
| read more | |||
| Jordan to tap Islamic or Eurobonds debt market | |||
| June 28, 2010--Jordan officials and bankers have said the kingdom wants to speed up issuance of Islamic bonds or Eurobonds to tap more competitive sources of funding to contain its budget deficit, Reuters has reported. | |||
| read more | |||
| Dubai Gold And Commodities Exchange Weekly Views-June 27, 2010 | |||
| June 27, 2010--Commodities Overview Most commodities prices traded in broad ranges last week. Ongoing euro zone sovereign debt and deficit problems, an easing in equity values, and resurfacing investor pessimism about overall economic conditions capped commodity price gains that had emerged the previous week. Gold managed to set record highs again, although the gains were made on the back of these very issues. | |||
| read more | |||
| Global Equity Index & ETF Research -- US Weekly ETP Market Review | |||
| June 25, 2010--New Listings and Delistings There were no new listings during the previous week. Net Cashflows Overall the US ETP market experienced outflows for $1.2 bn. Fixed Income, Commodity and Currency ETPs had inflows of $1.7 bn, $22 mm and $10 mm, respectively. Equity ETPs, in contrast, experienced outflows of $3.0 bn. | |||
| read more | |||
| Financial Stability Report-Bank of England | |||
| June 25, 2010-The Bank of England is today publishing its bi-annual Financial Stability Report. The Report is part of the delivery of the Bank’s strategy for its financial stability work, as set out in the Bank’s Annual Report 2010. The Report concentrates on the Bank’s assessment of conjunctural risks to financial stability. It was largely prepared ahead of the announcement by the Chancellor of the Exchequer of the Government’s plans to change the UK’s system of financial regulation. | |||
| read more | |||
| Lawmakers agree on historic Wall Street reform package | |||
| June 25, 2010--US lawmakers hammered out a historic overhaul of financial regulations as dawn broke over the nation’s capital on Friday, handing President Barack Obama a major domestic victory on the eve of a global summit devoted to financial reform. | |||
| read more | |||
| Exposures of Japanese deposit-taking institutions to subprime-related products and securitized products based on the leading practices summarized in the FSF report | |||
| June 25, 2010--The FSA published today the exposures of Japanese deposit-taking institutions (excluding Japan Agricultural Cooperatives) to subprime-related products and securitized products based on the leading practices summarized in the FSF report. Those figures are at the end-March 2010. | |||
| read more | |||
| Renminbi-inspired gains fade | |||
| June 25, 2010--Asian equities saw the gains inspired by renminbi revaluation fade away over the week as investors took profits after weak US economic data clouded global growth optimism. | |||
| read more | |||
| JSE declines ahead of G20 Summit | |||
| June 25, 2010--The JSE slipped for a fourth straight day on Friday amid some profit taking, with uncertainty also creeping back in to the market ahead of the G20 Summit in Toronto where the fiscal deficits afflicting some eurozone countries will once again be discussed. | |||
| read more | |||
| Bonds open weaker in quiet trade | |||
| June 25, 2010-- Bonds were weaker in quiet early trade on Friday, feeling the effects of a softer rand. | |||
| read more | |||
| Rand slips as euro/USD loses steam | |||
| June 25, 2010--The rand was softer in midday trade on Friday as traders trimmed their positions in the euro vs the US dollar ahead of the G20 summit in Canada. The euro lost steam against the US dollar after a brief bounce in mid-morning trade. | |||
| read more | |||
| New EU measures to ease access to structural funds | |||
| June 25, 2010--The EU adopted yesterday new measures aimed at simplifying management rules for the structural and cohesion funds to help regions tackle the crisis. The changes should help to facilitate access to the funds and accelerate flows of investment at a time when public budgets are under pressure. | |||
| read more | |||
| Standard & Poor's licenses S&P 500 to Vanguard | |||
| June 25, 2010--Standard & Poor's, the world's leading index provider, announced today that is has licensed the S&P 500, the most widely followed gauge of the U.S. equity markets, to Vanguard for the creation and listing of an Exchanged Traded Fund (ETF) based upon the Index. The licensing agreement also enables Vanguard to launch eight new equity funds and ETFs targeting the growth and value segments of the S&P 500, and the growth, value and blend segments of the S&P MidCap 400 and the S&P SmallCap 600. | |||
| read more | |||
| NASDAQ Closing Cross Had a Record Day for the Seventh Year on Russell Index Reconstitution | |||
| June 25, 2010--he NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) today announced the NASDAQ Closing Cross had a record day today as it was used to reconfigure the entire family of U.S. Russell indexes during their annual reconstitution.
A record 1.042 billion shares representing $11.2 billion were executed in the Closing Cross in 0.85 seconds across some 2,942 NASDAQ-listed stocks. This compares with 1.002 billion shares representing $9.3 billion executed in 2.9 seconds during Russell's annual reconstitution in 2009. | |||
| read more | |||
| CFTC.gov Commitments of Traders Reports Update | |||
| June 25, 2010--The CFTC.gov Commitments of Traders Reports for the week of June 22, 2010 are now available. | |||
| read more | |||
| U.S. Department of the Treasury Economic Statistics - Quarterly Data Update | |||
| June 25, 2010--The Quarterly Data for U.S. Department of the Treasury has recently been updated, and is now available. | |||
| read more | |||
| Keeping Ahead of the Curve: Investment Management in the New Regulatory Landscape | |||
| June 25, 2010--Ensuring compliance with existing regulations and preparing for new regulatory developments is a normal part of doing business for financial services organizations. However, the breadth and volume of regulatory initiatives around the world has surged in response to the global financial crisis, putting increasing strain on businesses already under pressure. Proposed regulatory reforms to the investment management and financial services industries seek to lessen systemic risk and enhance investor protection. | |||
| read more | |||
| BlackRock's O'Brien steps down, leaves investment management | |||
| June 25, 2010--Mike O’Brien, head of EMEA institutional business at BlackRock, is to leave the company.
He is to pursue business interests outside investment management. | |||
| read more | |||
| IOSCO Technical Committee Task Force on Commodity Futures Markets Report to the G-20 | |||
| June 24, 2010--The Technical Committee of the International Organization of Securities Commissions (IOSCO) and the IOSCO Task Force on Commodity Futures Markets (IOSCO Task Force), are pleased to report to the G-20 leaders IOSCO’s progress in improving the transparency and oversight of oil markets as called for in paragraph 28 of the September 24-25, 2009 Pittsburgh Leaders’ Statement. | |||
| read more | |||
| State Street files with the SEC | |||
| June 25, 2010--State Street has filed a post-effective amendment, registration statement with the SEC for the SPDR S&P Global Natural Resources ETF | |||
| read more | |||
| Vanguard files with SEC | |||
| June 25, 2010--Vanguard has filed a post-effective amendment, registration statement with the SEC for Vanguard S&P 500 ETF | |||
| read more | |||
| Vanguard files with the SEC | |||
| June 24, 2010--Vanguard has filed a registration statement with the SEC for Vanguard S&P 500 ETF | |||
| read more | |||
| Banks win battle for limits to Basel III | |||
| June 24, 2010--Plans by global regulators to compel banks to set aside billions of dollars in extra capital to cope with future crises are to be pared back after intense lobbying by the industry. | |||
| read more | |||
| FSA chief backs 'more intrusive' supervision | |||
| June 24, 2010--The UK’s leading investors have criticised the chief City regulator’s “new intrusive approach” to vetting bank directors, warning it would put off candidates applying for jobs and hamper boards’ effectiveness. | |||
| read more | |||
| US financial reform nears finish line | |||
| June 24, 2010--A year-long financial reform effort in the US approached the finishing line on Thursday with Wall Street banks braced for an expensive restructuring intended to prevent any repeat of the 2008 financial crisis. | |||
| read more | |||
| Euro at 18-month low against sterling | |||
| June 24, 2010--The euro was mixed on Thursday, at one point hitting an 18-month low against the pound as concerns over the fiscal health of countries on the periphery of the eurozone returned to the fore – but it later rebounded as the dollar suffered a rare setback in a risk-averse environment. | |||
| read more | |||
| AdvisorShares Announces Partnership With Cambria Investment Management | |||
| June 24, 2010--AdvisorShares Investments, LLC, a developer of and investment adviser to actively managed Exchange Traded Funds, announced today a partnership with Cambria Investment Management, Inc., a Los Angeles based investment manager, to create a GTAA strategy in an actively managed ETF. The proposed ETF would join AdvisorShares' growing stable of innovative actively managed ETFs which includes the Dent Tactical ETF (NYSE: DENT). | |||
| read more | |||
| Vanguard to launch 19 new funds, with ETF options |