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Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
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 Friday, October 14, 2011:
The Toronto Stock Exchange has announced today in the Daily Bulletin that the shares of Exploration Orbite V.S.P.A. Inc. (TSXVN:ORT.A) will graduate to trade on TSX at the open of trading on Monday, October 17, 2011.
The new name of the company will be Orbite Aluminae Inc. The ticker symbol will be "ORT" and the CUSIP number will be 68558C 10 6. According to index methodology, Orbite Aluminae will remain a constituent of the S&P/TSX Venture 30 Index until the next index review after the end of January, 2012. The company will be removed from the S&P/TSX Venture Composite and Venture Select Indices after the close of trading on Friday, October 14, 2011.
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
Increasing ETF complexity hurting industry: BlackRock
October 13, 2011-- Increasing complexity and opaqueness of exchange traded funds are hurting the ETF market and an industry-wide reform is needed to maintain growth, a BlackRock Inc executive said.
BlackRock, the world's biggest ETF provider, is working to improve transparency of its ETF products and is calling on its competitors to meet higher standards as well, Nick Good, head of iShares business in Asia-Pacific, told Reuters in a phone interview.
"Investors are increasingly confused as more and more complex (ETF) products are issued ... Unless the industry can reform itself, I think we risk doing harm to the industry," he said.
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Source: Reuters
db-X Exchange-Traded Funds files with the SEC
October 13, 2011--db-X Exchange-Traded Funds Inc. has filed a post-effective amendment no.7, registration statement with the SEC.
This amendment is being filed solely to submit exhibits containing risk/return summary information in interactive data format that is identical to the risk/return information contained in the Registrant’s prospectus that was filed with the Securities and Exchange Commission in Post-Effective Amendment No. 6 to the Registrant’s registration statement on September 28, 2011.
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Source: SEC.gov
PowerShares files with the SEC
October 13, 2011-PowerShares has filed a second amended and restated application for exemptive relief with the SEC.
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Source: SEC.gov
Northern Trust files with the SEC
October 13, 2011--Northern Trust has filed a application for Exemptive relief with the ETFs-FlexShares Trust.
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Source: SEC.gov
Georgetown Investment Management files with the SEC
October 13, 2011--Georgetown Investment Management has filed a amended application for exemptive relief with the SEC.
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Source: SEC.gov
iShares files with the SEC
October 13, 2011--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares Emerging Markets Local Currency Bond Fund.
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Source: SEC.gov
Pa. capital files for bankruptcy, roiling mayor
October 13, 2011-Pennsylvania's distressed capital city filed for bankruptcy Wednesday, citing "imminent jeopardy" from lawsuits related to a debt-saddled municipal incinerator and setting up a power struggle between the mayor and City Council.
The federal petition for Chapter 9 bankruptcy, being sought to help Harrisburg get out from under crushing debt, listed about $458 million in creditors and claims and six pending legal actions by creditors.
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Source: CBS News
US wheat futures rise; soya rally hits two-week high
October 12, 2011--Chicago wheat futures rose on Friday amid hopes for a resolution of the euro-zone debt crisis but remained under pressure from US government forecasts of higher global and US supply, which sparked heavy losses earlier this week.
Soyabean futures rose for a fifth straight day to reach their highest level in more than two weeks as rising oil and equity prices added to support from tightening soya supply.
Corn futures edged higher. Perceived progress in tackling debt woes in the euro zone, coupled with positive sentiment regarding corporate earnings, fed broad gains in commodities and equities. Strength in the euro weighed on the dollar, giving extra support to commodities priced in the US currency.
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Source: Business Recorder
ETF Investors Confident in the Economic Stability of Canadian Companies
Canadian Equity ETFs Led All Other Asset Classes in Q3 With $1.6 Billion in Net New Assets
October 12, 2011--Canadian equity ETFs received more than $2.5 billion in net new assets in the third quarter of 2011, according to information compiled by the iShares(R) exchange-traded fund (ETF) business at BlackRock Asset Management Canada Limited (BlackRock Canada), an indirect, wholly-owned subsidiary of BlackRock, Inc.
This was led by the strong performance of the iShares S&P/TSX 60 Index Fund (XIU) which is the number one ETF in Canada by AUM ($10.5 billion) and net sales ($838 million) in the third quarter.
"These findings tell us that despite uncertainty in the global markets, domestic and international investors are still confident in the soundness of Canadian companies and of our marketplace," said Mary Anne Wiley, head of iShares distribution, BlackRock Canada.
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Source: BlackRock Asset Management Canada Limited
