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CFTC and SEC Staffs to Host Public Roundtable to Discuss International Issues relating to the Implementation of Title VII of the Dodd-Frank Act
July 21, 2011--The staffs of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) will hold a joint public roundtable on August 1, 2011, from 9:00 am to 4:00 pm, to discuss international issues related to the implementation of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Panelists will be announced at a later date.
The roundtable will be held in the Conference Center at the CFTC’s Headquarters, Three Lafayette Centre, 1155 21st Street, NW, Washington, DC. The discussion will be open to the public with seating on a first-come, first-served basis.
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Source: CFTC.gov
BNP Paribas files with the SEC
July 21, 2011--BNP Paribas has filed a Form S-1 with the SEC for the BNP Paribas Enhanced Volatility Fund.
view filing
Source: SEC.gov
Dow Jones Indexes To License Two Israel Sector Indexes For New ETFs
July 21, 2011--Dow Jones Indexes, a leading global index provider, today announced the launch of two sector indexes for Israel – the Dow Jones Israel Select Consumer Index and the Dow Jones Israel Select Oil & Gas Index – which it has licensed to KSM, a leading index product manager in Israel.
Part of the Excellence Nessuah group, KSM will be adding the KSM Dow Jones Consumer Index ETF and the KSM Dow Jones Energy Index ETF to its expanded family of exchange-traded funds (ETFs), which collectively have AUM totaling $5.5 billion as of June 30, 2011. Both of the new KSM ETFs began trading today on the Tel Aviv Stock Exchange.
“The licensing of these two new indexes is indicative of growing interest among Israeli investors in a wider array of index-based products,” said Michael A. Petronella, President, Dow Jones Indexes. “These new indexes will allow investors to make more-precise investment decisions by considering the performance of individual sectors.”
Dow Jones Indexes and KSM have worked together before: in 2004, KSM licensed the iconic Dow Jones Industrial Average from Dow Jones Indexes to issue the KSM Dow Jones 30 – the first ETF traded in Israel.
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Source: Dow Jones Indexes
Massachusetts Suing RBC Capital Over Leveraged ETF Sale
June 20, 2011---Massachusetts’ top securities regulator is suing RBC Capital Markets LLC over the sale of leveraged and inverse exchange-traded funds, saying they sold them to clients who didn’t understand the investments.
Secretary of the Commonwealth William F. Galvin said RBC Capital and Michael D. Zukowski, a former agent, used “dishonest practices” in selling the funds, according to a statement e-mailed today. The lawsuit seeks restitution to Massachusetts investors, a cease and desist order, and an administrative fine.
“The point of the complaint is not that the investors lost money,” Galvin said in the statement. “The dishonesty here is that the investors, and indeed the agent soliciting their investment, did not understand the workings of these funds.”
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Source: Bloomberg Businessweek
BM&FBOVESPA Announces Questionnaire For Selection Of 2012 ISE Portfolio - Questionnaire Approved By The ISE Deliberative Council Includes New Transparency Question
Questionnaire approved by the ISE Deliberative Council includes new Transparency question
July 20, 2011--The questionnaire to decide the companies for the 2012 Corporate Sustainability Index (ISE) portfolio is available on the website www.isebvmf.com.br. BM&FBOVESPA announced on Tuesday.
The questionnaire was drawn up by the Sustainability Study Center (GVces) of the Getúlio Vargas Foundation (FGV) and was approved by the ISE Deliberative Council after a public consultation with companies and society, which ended June 24. The eligible companies are on the list of the 200 most traded on the Exchange and must register by July 31 and answer the questions by September 16.
The Index was launched on December 1, 2005, based on methodology developed by GVces and with the financial backing of the International Finance Corporation (IFC). ISE assesses separate sustainability questions as a whole, within the dimensions of General, Nature of the Product, Corporate Governance, Economic-Financial, Social, Environmental, and Climate Change.
more info
Source: BM&FBOVESPA
BM&FBOVESPA Stock Index Portfolios To Have New Validity Starting Dates As Of September
June 20, 2011--The start of the four-month validity periods for theoretical portfolios for companies included in BM&FBOVESPA indices shall be changed as of September 2011, to the first Monday of January, May and September.
At present the starting dates are on the first business days of these months.
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Source: BM&FBOVESPA
Bank Of America Merrill Lynch Announces Next Generation Trading Platform With Launch Of BofAML Express
July 20, 2011-Bank of America Merrill Lynch today unveiled BofAML Express, the firm's next generation ultra low-latency market access and risk control platform for U.S. equities.
The platform delivers sub 10-microseconds of wire-to-wire latency and provides an embedded series of risk controls required by recent SEC regulation.
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Source: Bank of America Merrill Lynch
Knight Capital Group Announces Consolidated Earnings Of USD0.19 Per Diluted Share For The Second Quarter 2011
July 20, 2011--Equities generated second quarter 2011 revenues of $236.4 million, compared to second quarter 2010 revenues of $305.0 million, due to significantly lower overall U.S. equity volumes and market volatility. Fixed Income, Currencies and Commodities (FICC) second quarter 2011 revenues grew 46% to $88.4 million from second quarter 2010 revenues of $60.4 million, driven by reverse mortgage origination and HMBS securitization, institutional foreign exchange and capital markets.
Knight Capital Group, Inc. (NYSE Euronext: KCG) today reported consolidated earnings of $17.6 million, or $0.19 per diluted share, for the second quarter of 2011.
For the second quarter of 2010, the company reported consolidated earnings of $54.4 million, or $0.58 per diluted share.
Revenues from continuing operations for the second quarter of 2011 were $326.0 million, compared to $366.3 million from continuing operations for the second quarter of 2010.
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Source: Knight Capital Group
Horizons launches Canada's first Australian currency ETF
July 20, 2011--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and BetaPro Management Inc. are pleased to announce the launch of the Horizons Australian Dollar Currency ETF (the "Australian Dollar ETF" or "ASD"), an exchange traded fund ("ETF") which offers investors direct access to foreign currency investing. The Australian Dollar ETF will begin trading on the Toronto Stock Exchange ("TSX") July 20, 2011, under the symbol ASD.
The Australian Dollar ETF seeks to reflect the price in Canadian dollars of the Australian dollar, net of expenses, by investing primarily in cash and cash equivalents that are denominated in the Australian dollar.
ASD is structured as an ETF and therefore has all the characteristics of an ETF, including intraday liquidity, a low cost structure, and portfolio transparency. The Australian Dollar ETF will make monthly distributions of any income earned on the cash and cash equivalents it holds, net of fees and expenses.
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Source: Horizons Exchange Traded Funds Inc
SEC Issues Investor Bulletin on Retail Forex Transactions
July 20, 2011 — The Securities and Exchange Commission today issued an investor bulletin highlighting some of the most significant risks that foreign currency exchange (forex) transactions may pose for individual investors.
The forex market is a large and generally liquid financial market. Banks, insurance companies, and other financial institutions as well as large corporations use the forex markets to manage the risks associated with fluctuations in currency rates. However, the risk of loss for individual investors who trade forex contracts can be substantial.
“Forex trading can be very risky and is not appropriate for all investors,” said Lori J. Schock, Director of the SEC’s Office of Investor Education and Advocacy. “Individual investors considering forex trading need to fully understand the unique characteristics of this market and consult their financial adviser before making any investment decisions.”
view the Investor Bulletin: Forex Trading for Individual Investors
Source: SEC.gov
