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Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices
March 30, 2012--Standard & Poor's will make the following changes in the S&P/TSX Canadian Indices:
The shareholders of Minefinders Corporation Ltd. (TSX:MFL) have accepted the cash and share exchange offer from Pan American Silver Corp. (TSX:PAA).
Minefinders will be removed from the S&P/TSX Composite and Capped Composite, the S&P/TSX Equity and Capped Equity, the S&P/TSX Completion and Equity Completion, the S&P/TSX SmallCap and Equity SmallCap, the S&P/TSX Global Mining and Global Gold, the S&P/TSX Composite Equal Weight and the S&P/TSX Capped Materials Indices effective after the close of Wednesday, April 4, 2012.
Pan American Silver Corp. (TSX:PAA) has announced the closing of the acquisition of Minefinders Corporation Ltd. As a result of the issuance of shares, the relative weight of Pan American Silver will increase in the S&P/TSX Composite and Capped Composite, the S&P/TSX Equity and Capped Equity, the S&P/TSX Capped Materials, the S&P/TSX Completion and Equity Completion, the S&P/TSX Global Mining and the S&P/TSX Composite Dividend indices. These changes will be effective after close on Wednesday, April 4, 2012.
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
U.S. swaps pushout rule to kick in July 2013
March 30, 2012--Banking regulators said on Friday that the controversial rule requiring banks to spin off some of their swap trading into affiliates will not take effect until July 16, 2013.
The rule was mandated by the 2010 Dodd-Frank Wall Street reform law and seeks to create distance between the part of a bank that receives government backstops such as deposit insurance and the part that engages in more risky activity.
read more
Source: Reuters
Guggenheim Investments to Rename Rydex Specialized Products Guggenheim Specialized Products
March 30, 2012--Guggenheim Investments, the investment management division of Guggenheim Partners, LLC, today announced that effective Friday, March 30, 2012 Rydex Specialized Products LLC, the sponsor of the firm's CurrencyShares(R) product line-up, will officially be renamed Guggenheim Specialized Products, LLC.
This rebranding comes as a part of Rydex|SGI's integration into Guggenheim Partners, LLC to form Guggenheim Investments.
Pimco ETF Rakes In Cash Despite Continued Stock Rally read more BlackRock rebrands Claymore ETFs as iShares read more
Horizons ETFs Announces Unit Consolidations
Unit Consolidations
After the Toronto Stock Exchange (the "TSX") has closed for trading on Thursday, April 12, 2012 , the units of the ETFs will be consolidated on the basis of the ratios (the "Consolidation Ratios") set out below, and will begin trading on a consolidated basis on Friday, April 13, 2012 , the effective date of the consolidations: read more Schwab considers warnings on controversial exchange-traded products read more Passive approach begins to gain currency read more
March 30, 2012--On February 6, 2012, Singapore Exchange Derivatives Trading Limited (SGX) requested expedited Commodity Futures Trading Commission (CFTC) review of the SGX's Euro Stoxx 50 Index futures contract so that it may be offered to U.S. persons.
SGX also requested that the contract may be made available through direct access terminals in the United States.
Source: CFTC.gov
March 30, 2012--nvestors have flocked to Pimco's new bond ETF, which has raked in the second-most assets of any such fund during the first quarter.
Though trading for just a month, the Pimco Total Return Exchange-Traded Fund took in $264 million since launching March 1, according to data from ConvergEx and XTF Rating Service.
Source: CNBC
March 30, 2012--BlackRock Investments Canada Inc., which acquired exchange-traded fund provider Claymore Investments Inc. three weeks ago, has killed the Claymore brand.
Nearly all the Claymore ETFs were rebranded Thursday to the iShares name. Ticker symbols for these funds listed on the Toronto Stock Exchange remain unchanged.
Source: Globe and Mail
March 30, 2012--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate Horizons ETFs Management ( Canada ) Inc., the manager and trustee of the Horizons BetaPro NYMEX Natural Gas Bull Plus ETF, Horizons BetaPro NYMEX® Long Natural Gas/Short Crude Oil Spread ETF and the Horizons Winter-Term NYMEX
Natural Gas ETF (together, the "ETFs"), has announced today that it intends to consolidate the units of the ETFs, as indicated below:
Source: Horizons ETFs Management (Canada) Inc.
March 30, 2012--Discount brokerage Charles Schwab Corp is reviewing whether to add a warning when a customer is about to trade certain exchange-traded products, in one of the strongest warnings yet for retail investors about these esoteric securities.
The move follows the sudden plunge in an exchange-traded note called VelocityShares Daily 2X VIX Short-Term ETN, or TVIX, which lost 60 percent of its value last week.
Source: Reuters
March 30, 2012--The use of exchange-traded funds (ETFs) has grown significantly as investors continue to seek cheaper ways of gaining exposure to certain asset classes over more expensive actively managed strategies.
While ETFs have proved popular vehicles to gain passive exposure to equities, bonds and commodities, currency is something of a late comer to the party and it is only recently that exchange traded products (ETPs) offering exposure to the asset class have started to gain ground.
Source: FT.com
