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CFTC.gov Commitments of Traders Reports Update
October 14, 2011--The current reports for the week of October 11, 2011 are now available.
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Source: CFTC.gov
Van Eck Global Remain Bullish on China-Adds Another China-Focused Exchange Traded Product to its Roster
Undeterred by current “risk-off” philosophy pervading the market,
firm launches Market Vectors® Renminbi Bond ETF (CHLC);
third Market Vectors product offering exposure to Chinese renminbidenominated assets
October 13, 2011--New York-based asset manager Van Eck Global announced today that it has launched Market Vectors Renminbi Bond ETF (NYSE Arca: CHLC), an exchange-traded fund (ETF) which offers investors exposure to Chinese renminbi (RMB)-denominated bonds, often referred to as “dim sum” bonds.
CHLC seeks to track, before fees and expenses, the price and yield performance of the Market Vectors Renminbi Bond Index (ticker: MVCHLC), an index designed to track the performance of RMB-denominated investment-grade bonds or unrated bonds from investment grade issuers in and outside of China.
“The world is transitioning from a period of U.S. dollar dominance to an era of currency blocs that better reflect the dispersion of economic growth. Certainly, the renminbi will be one of those currency blocs and China has taken significant steps to internationalize the RMB over the past two years,” said Jan van Eck, Principal at Van Eck Global. “As this trend continues, investors should consider allocating to each of these blocs over time, but neither China stocks nor China bonds are represented in widely used indices. By adding CHLC to the roster of Market Vectors China-focused products, we’re looking to make it easier for investors to add RMB-denominated exposure to their portfolios.”
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Source: Van Eck Global
Eaton Vance Corp. Announces Formation of Navigate Fund Solutions LLC and Appointment of Stephen W. Clarke as President
October 13, 2011--Eaton Vance Corp. (NYSE: EV) today announced the formation of a wholly owned subsidiary, Navigate Fund Solutions LLC, to commercialize net asset value (NAV)-based trading of exchange-traded funds (ETFs) and develop exchange-traded managed funds (ETMFs). ETMFs are a proposed new type of registered investment fund that seek to combine features and benefits of ETFs and traditional actively managed mutual funds.
Navigate is the successor to Managed ETFs LLC, a developer of intellectual property in the field of ETFs that Eaton Vance acquired in November 2010. Eaton Vance also announced the appointment of Stephen W. Clarke as President of Navigate Fund Solutions. As President, Mr. Clarke will be responsible for leading and managing the development and marketing of ETMFs and NAV-based trading.
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Source: Eaton Vance
SEC and FSA Hold Strategic Dialogue Meeting
October 13, 2011--Securities and Exchange Commission Chairman Mary L. Schapiro and senior SEC staff met today with the UK Financial Services Authority’s (FSA) chief executive Hector Sants and its managing director of the conduct business unit Martin Wheatley as part of the regular, ongoing SEC-FSA Strategic Dialogue to discuss regulatory approaches to current issues.
During the SEC-FSA dialogue, the agencies exchanged views on a number of topics including issues relating to over-the-counter derivatives, technology-driven trading strategies, market surveillance, and short selling, as well as the agencies’ respective participation in the Financial Stability Board and the International Organization of Securities Commissions. In addition, the agencies discussed the impact of current regulatory reform efforts being undertaken in both jurisdictions.
Chairman Schapiro said, “The ongoing dialogue between the SEC and the UK FSA demonstrates both agencies’ commitment to aligning interests with the goal of achieving regulatory consistency. As Europe and the U.S. continue to enhance regulation in the wake of the financial crisis, working with all of our counterparts is essential to help prevent regulatory arbitrage, especially in the areas involving over-the-counter derivatives and market structure.”
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Source: SEC.gov
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
October 13, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Thursday, October 13, 2011:
Macarthur Minerals Limited (TSXVN:MMS) will be removed from the index. The company will graduate to trade on TSX under the same ticker symbol.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poor's
Standard & Poor's Announces Changes In The S&P/TSX SmallCap Index
October 13, 2011--Standard & Poor's will make the following changes in the S&P/TSX SmallCap Index after the close of trading on Thursday, October 20, 2011:
The shareholders of Zarlink Semiconductor Inc. (TSX:ZL) have accepted the $CDN3.98 cash per share offer from Microsemi Corporation (NASDAQ:MSCC).
Zarlink will be removed from the S&P/TSX SmallCap and Equity SmallCap Indices after the close of Thursday, October 20, 2011.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poor's
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
October 13, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Friday, October 14, 2011:
The Toronto Stock Exchange has announced today in the Daily Bulletin that the shares of Exploration Orbite V.S.P.A. Inc. (TSXVN:ORT.A) will graduate to trade on TSX at the open of trading on Monday, October 17, 2011.
The new name of the company will be Orbite Aluminae Inc. The ticker symbol will be "ORT" and the CUSIP number will be 68558C 10 6. According to index methodology, Orbite Aluminae will remain a constituent of the S&P/TSX Venture 30 Index until the next index review after the end of January, 2012. The company will be removed from the S&P/TSX Venture Composite and Venture Select Indices after the close of trading on Friday, October 14, 2011.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poor's
Increasing ETF complexity hurting industry: BlackRock
October 13, 2011-- Increasing complexity and opaqueness of exchange traded funds are hurting the ETF market and an industry-wide reform is needed to maintain growth, a BlackRock Inc executive said.
BlackRock, the world's biggest ETF provider, is working to improve transparency of its ETF products and is calling on its competitors to meet higher standards as well, Nick Good, head of iShares business in Asia-Pacific, told Reuters in a phone interview.
"Investors are increasingly confused as more and more complex (ETF) products are issued ... Unless the industry can reform itself, I think we risk doing harm to the industry," he said.
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Source: Reuters
db-X Exchange-Traded Funds files with the SEC
October 13, 2011--db-X Exchange-Traded Funds Inc. has filed a post-effective amendment no.7, registration statement with the SEC.
This amendment is being filed solely to submit exhibits containing risk/return summary information in interactive data format that is identical to the risk/return information contained in the Registrant’s prospectus that was filed with the Securities and Exchange Commission in Post-Effective Amendment No. 6 to the Registrant’s registration statement on September 28, 2011.
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Source: SEC.gov
PowerShares files with the SEC
October 13, 2011-PowerShares has filed a second amended and restated application for exemptive relief with the SEC.
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Source: SEC.gov
