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Nasdaq Price System May Take Years for Structured Note Progress
December 20, 2013--Nasdaq OMX Group Inc. said it may take years for its Mutual Fund Quotation Service to make "measureable progress" in getting banks to list daily values for their structured notes.
Nasdaq, the second-largest operator of U.S. stock exchanges, hasn't added any U.S. structured notes more than a month after announcing that the securities were eligible for listing, according to a review of its website.
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Source: Bloomberg
NYSE Euronext sells 5.65 lakh MCX shares
December 19, 2013-- Global exchange giant NYSE Euronext today offloaded 5.65 lakh shares of India's premier commodity bourse MCX for an estimated Rs 24 crore.
According to information available with the bourses, NYSE Euronext sold 5.65 lakh shares of Multi Commodity Exchange (MCX) through the open market route.
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Source: Economic Times
ISE Bid for S&P, Dow Jones Indexes Rejected by U.S. Judge
December 19, 2013--International Securities Exchange Holdings Inc. lost a second lawsuit over the Chicago Board Options Exchange's exclusive license to list options based on the Standard & Poor's 500 and Dow Jones indexes.
U.S. District Judge Alvin K. Hellerstein in Manhattan yesterday threw out the case, citing ISE's loss of what he called an identical lawsuit in Illinois state courts, where the company was a defendant.
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Source: Bloomberg
Canadian regulators ramp up reform of derivatives blamed in financial crisis
December 19, 2013--It's been a busy week for Canadian regulators as they roll out new rules designed to meet global regulatory reform in the area of derivatives trading.
On Thursday, the Canadian Securities Administrators proposed a model for central counterparty clearing of over-the-counter derivatives. The new system, if implemented in its current form, will determine which derivatives are subject to central clearing.
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Source: Financial Post
SEC May Target Exchange-Traded Notes Next in Push to Simplify
December 19, 2013--A regulatory push to make complex securities easier to understand could change how banks disclose risks for exchange-traded notes for the first time since they began trading in 2006.
Lenders may not be adequately explaining to investors how they value ETNs, Amy Starr, head of the Securities and Exchange Commission's capital markets trends office in Washington, said at an industry conference last week. ETNs, which combine bank debt and derivatives, trade on exchanges and are tied to assets from gold and stocks to volatility indexes.
view more WisdomTree Launches Rising Rates Bond Exchange Traded Funds (ETFs) Based On Leading Fixed Income Benchmarks view more WisdomTree Launches Bloomberg U.S. Dollar Bullish Fund (USDU) view more High-frequency trader Virtu plots 2014 IPO view more Federal Reserve Board and Federal Open Market Committee release economic projections from the December 17-18 FOMC meeting Federal Reserve issues FOMC statement Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic growth will pick up from its recent pace and the unemployment rate will gradually decline toward levels the Committee judges consistent with its dual mandate. The Committee sees the risks to the outlook for the economy and the labor market as having become more nearly balanced. The Committee recognizes that inflation persistently below its 2 percent objective could pose risks to economic performance, and it is monitoring inflation developments carefully for evidence that inflation will move back toward its objective over the medium term. view more
Source: Bloomberg BusinessWeek
Maintain Broad Fixed Income Exposure while Managing Interest Rate Risk
Zero and Negative Duration ETFs Track Barclays Aggregate and BofA Merrill Lynch High Yield Interest Rate Indexes
December 18, 2013--WisdomTree (NASDAQ: WETF), an exchange-traded fund ("ETF") sponsor and asset manager, today announced the launch of its Rising Rates ETF Solution Suite on the NASDAQ Stock Market.
The ETFs combine widely followed fixed income strategies with targeted U.S. Treasury exposures to achieve specific durations in order to help manage interest rate risk.
Source: WisdomTree
New ETF Incorporates Global Trade Flow and Liquidity Measures to Provide Investors Representative Exposure to the U.S. Dollar
December 18, 2013--WisdomTree (NASDAQ: WETF), an exchange-traded fund ("ETF") sponsor and asset manager today announced the launch of the WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU).
USDU, which is benchmarked to the Bloomberg Dollar Total Return Index, seeks to provide exposure to the U.S. dollar against a broad basket of developed and emerging market currencies based on global trade flows and liquidity1 measures. USDU is listed on the NYSE Arca and has an expense ratio of 0.50%.
Source: WisdomTree
Decemmber 18, 2013--Virtu Financial, a leading global high-frequency trading firm, is preparing for an initial public offering in the US that may take place in the first half of next year, according to people familiar with its plans.
An IPO would provide a rare glimpse into the secretive world of high-frequency trading, where Virtu has carved out an envied position with a significant presence across financial markets and regions.
Source: FT.com
December 18, 2013--The Federal Reserve Board and Federal Open Market Committee has released the projections from the December 17-18 FOMC meeting.
view projections
Source: FBR
December 18, 2013--Information received since the Federal Open Market Committee met in October indicates that economic activity is expanding at a moderate pace. Labor market conditions have shown further improvement; the unemployment rate has declined but remains elevated. Household spending and business fixed investment advanced, while the recovery in the housing sector slowed somewhat in recent months. Fiscal policy is restraining economic growth, although the extent of restraint may be diminishing.
Inflation has been running below the Committee's longer-run objective, but longer-term inflation expectations have remained stable.
Source: FBR
