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Direxion files with the SEC
November 30, 2012--Direxion has filed a post-effective amendment, registration statement with the SEC for the DIREXION DAILY DOW 30 BULL 2X SHARES/DIREXION DAILY DOW 30 BEAR 2X SHARES.
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Source: SEC.gov
Getco and Virtu Bid for Embattled Knight Capital
November 30, 2012--November 30, 2012--Getco proposes merger that would pay Knight shareholders $3.50/share for about half of outstanding shares
Virtu Financial privately submits all-cash offer to pay shareholders about $3/share, according to source
Knight confirms receipt of Getco offer but says it doesn't comment on interactions with shareholders
The fight for control of brokerage Knight Capital Group Inc. (KCG) heated up Wednesday, with a formal merger offer from one rival trading firm and a competing bid from another, according to people familiar with the negotiations.
High-frequency trading firm Getco LLC's parent firm, Getco Holding Co., in a public filing before the market opened, proposed a merger that would pay Knight shareholders $3.50 a share for roughly half of the shares outstanding upfront, with additional compensation in shares of the combined company.
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Source: NASDAQ
Advisors turn to ETFs for Risk Management
November 30, 2012--Financial advisors expect to see increased use of exchange-traded funds (ETFs) in client portfolios, while aversion to risk remains high, according to a recently released Invesco Ltd. market study of U.S. registered investment advisors (RIAs).
Invesco's Canadian subsidiary, Invesco Canada, offers 14 ETFs under the PowerShares Canada brand.
Advisors surveyed believe ETFs will make up 24 percent of portfolio allocations over the next 12 months and 33 percent over the next three years, representing a 10 percent increase over results reported in Invesco's survey of advisors in 2011.
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Source: Invesco Canada Ltd
CFTC.gov Commitments of Traders Reports Update
November 30, 2012--The current reports for the week of November 27, 2012 are now available.
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Source: CFTC.gov
AdvisorShares is Launching Four Gold ETFs With Minimal Dollar Exposure
November 30, 2012-- AdvisorShares, known for its line-up of actively-managed exchange-traded funds, is launching four new gold ETFs that will allow investors to play the yellow metal while at the time minimzing exposure to the U.S. dollar.
Gartman Gold/Yen ETF (GYEN): This actively-managed ETF will offer exposure to gold prices denominated in Japanese yen, offering a creative way to maintain exposure to gold without direct exposure to the dollar.
Gartman Gold/British Pound ETF (GGBP): This actively-managed ETF will offer exposure to gold prices denominated in British pounds.
Gartman Gold/Eu Euro ETF (GEUR): This actively-managed ETF will offer exposure to gold prices denominated in euros.
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Source: Barron's
U.S. House Democrat Barney Frank and Massachusetts Democrat Michael Capuano introduced a bill-would combine the SEC and CFTC
November 30, 2012--U.S. House Democrat Barney Frank and Massachusetts Democrat Michael Capuano introduced a bill that would combine the Securities and Exchange Commission and Commodity Futures Trading Commission.
Status: Referred to Committee
EPFR Global Fund Data News Release-US equity fund inflows best in more than a year
November 30, 2012--A burst of optimism about the likelihood of US lawmakers cobbling together some kind of budget deal before a raft of spending cuts and tax increases kick in, saw investor attention shift from the world's second largest economy, China, to the biggest.
During the fourth week of November EPFR Global-tracked US Equity Funds attracted over $10 billion in net inflows, their best showing in more than a year, as flows into China Equity Funds slipped to a seven week low.
This optimism also boosted appetite for riskier asset classes. Flows into Emerging Markets Equity Funds hit a 10 week high while both High Yield Bond and Alternative Funds snapped two week outflow streaks.
Overall, EPFR Global-tracked Equity Funds recorded inflows of $14.86 billion during the week ending Nov. 28 -- their second highest total year-to-date -- while Bond Funds took in a net $5.17 billion and Money Market Funds $5.87 billion.
Visit http://www.epfr.com/overview.aspx for more info
Source: EPFR
Bond Market Liquidity Risk a Primary Concern for US Fixed-Income Markets, Says TABB
New Models and Products Emerge as Electronic Trading Grows and Single-Name CDS Declines
November 30, 2012--Quantitative easing (QE), reduced trading revenues and bank regulations are colliding to reshape the US fixed-income markets, according to TABB Group in new research, "US Fixed Income Trends: State of the Industry 2012."
"The old business model of dealers holding bond inventory is dead," reports Henry Chien, a TABB research analyst who co-authored the report with contributing analyst Deepali Nigam. “New platforms and products in today’s credit bubble are driving new liquidity dynamics.”
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Source: TABB
Brazil adds to emerging market slowdown
November 30, 2012--Brazil's hopes of returning to the club of high-growth emerging markets were dealt a blow on Friday following the release of figures that showed the economy is on track for one of its slowest years in a decade.
Gross domestic product grew only 0.6 per cent in the third quarter over with the second – in spite of a prediction this week from Guido Mantega, finance minister, that it had expanded at twice this rate – setting Brazil on course for growth of just 1 per cent in 2012.
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Source: FT.com
CFTC's Division of Market Oversight Issues Time-Limited No-Action Relief Concerning Bespoke or Complex Swaps
November 30, 2012--The Commodity Futures Trading Commission's (CFTC) Division of Market Oversight (DMO) today announced the issuance of a time-limited no-action letter granting relief, for bespoke or complex swaps, from certain reporting obligations under Part 43 and Part 45 of the Commission's regulations.
For bespoke or complex swaps as defined therein, the no-action letter provides that DMO will not recommend an enforcement action against (1) a reporting party
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Source: CFTC.gov
