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Optimists turn to ETFs to ride equities rally
October 14, 2011--The recent stampede out of equities slowed in the latest week as some investors put fresh cash into exchange traded funds in the hope of quickly joining a rebound in global stock markets.
Redemptions from mutual and exchange traded funds that buy equities fell to a four-week low of $1.37bn in the latest week, according to EPFR Global, the fund flow tracker.
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Source: FT.com
SEC Announces Agenda And Panelists For Roundtable On Conflict Minerals
October 14, 2011--The Securities and Exchange Commission today announced the agenda and panelists for a public roundtable on the agency’s required rulemaking under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which relates to reporting requirements regarding conflict minerals originating in the Democratic Republic of the Congo and adjoining countries.
The October 18 roundtable, announced last month, will feature two panels discussing key issues related to the SEC’s required rulemaking, including what is covered by the rule, what steps will be required to comply with the rule, and reporting under the rule.
The event will begin at 12:30 p.m. in the auditorium at the SEC’s Washington, D.C. headquarters, with public seating on a first-come, first-served basis. The event also can be viewed by live webcast, and will be archived on the website for later viewing.
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Source: SEC.gov
Treasury Department Statement Regarding Decision to Delay Semi-Annual Report to Congress on International Economic and Exchange Rate Policies
October 14, 2011--Treasury today announced that it will delay publication of the semi-annual Report to Congress on International Economic and Exchange Rate Policies of our major trading partners until later this year to give us a chance to assess progress following several international meetings: the G-20 Finance Ministers and Central Bank Governors Meeting October 14-15, 2011;
the G-20 Leaders Summit November 3-4, 2011; and the Asia-Pacific Economic Cooperation (APEC) Finance Ministers Meeting November 10, 2011 and APEC Leaders Meeting November 12-13, 2011.
Treasury last published the semi-annual Report on May 27, 2011.
Source: US Department of the Treasury
Standard & Poor's Announces Quarterly Review Of S&P/TSX Preferred Share Index And The S&P/TSX Venture Select Index
October 14, 2011--Standard & Poor's Canadian Index Operations announces the following index changes as a result of the quarterly S&P/TSX Preferred Share Index and S&P/TSX Venture Select Index Reviews.
These changes will be effective at the open on Monday, October 24, 2011:
view changes>
CFTC.gov Commitments of Traders Reports Update Van Eck Global Remain Bullish on China-Adds Another China-Focused Exchange Traded Product to its Roster “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.” read more Eaton Vance Corp. Announces Formation of Navigate Fund Solutions LLC and Appointment of Stephen W. Clarke as President read more SEC and FSA Hold Strategic Dialogue Meeting 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.” read more Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index Standard & Poor's Announces Changes In The S&P/TSX SmallCap Index 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: Mondovisione
October 14, 2011--The current reports for the week of October 11, 2011 are now available.
view updates
Source: CFTC.gov
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.
Source: Van Eck Global
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.
Source: Eaton Vance
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.
Source: SEC.gov
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
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.
Source: Standard & Poor's
