Americas ETP News
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State Street files with the SEC
September 12, 2011--SSgA Active ETF Trust has filed a pre-effective amendment, registration statement with the SEC for the SPDR SSgA Real Assets ETF
SPDR SSgA Income Allocation ETF
SPDR SSgA Conservative Allocation ETF
SPDR SSgA Global Allocation ETF
SPDR SSgA Aggressive Allocation ETF
SPDR Blackstone/GSO Senior Loan ETF
view filing
Source: SEC.gov
CME Group Sets Records for OTC Clearing Volumes, Expands OTC Product Offering for Open Clearing Solution
September 12, 2011-- CME Group, the world's leading and most diverse derivatives marketplace, today announced it set new daily and monthly records for clearing both interest rate swaps (IRS) and credit default swaps (CDS).
CME Group cleared daily customer volume records of $827 million of IRS on September 9, and over $1 billion of CDS on September 8.
Additionally, CME Group has set monthly records for volume cleared in September. The company has cleared over $1.5 billion in interest rate swap customer volume in September to date, exceeding the previous record monthly total of $1.2 billion in August. The company also has cleared $2.4 billion in credit default swaps customer volume in September to date, surpassing the previous record monthly total of $287 million in August.
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Source: CME Group
McGraw-Hill Announces Comprehensive Growth and Value Plan to Increase Shareholder Value
To Separate Into Two Industry-Leading Public Companies, One Focused On Key Global Markets and the Other On Education
Enables Company to Streamline Operations and Reduce Costs
Will Accelerate Share Repurchases to $1 Billion in 2011
September 12, 2011--The McGraw-Hill Companies (NYSE: MHP) today announced that its Board of Directors has unanimously approved a comprehensive Growth and Value Plan that includes separation into two strong public companies: McGraw-Hill Markets, primarily focused on capital and commodities markets, and McGraw-Hill Education, focused on education services and digital learning.
The three-part Plan is designed to accelerate growth and increase shareholder value by:
1. Creating two "pure-play" companies with the scale, and the capital and cost structures to fully leverage their world-class franchises, iconic brands, and leading market positions
2. Reducing costs significantly to ensure efficient operating structures for the two new companies
3. Accelerating the pace of share repurchases to a total of $1 billion for the full year 2011 (approximately $540 million repurchased year to date)
The Growth and Value Plan will create two focused operating companies with deeper customer engagement, right-sized cost structures, and increased management focus and accountability. The creation of two companies with tailored capital structures and financial policies will also enhance strategic and financial flexibility and establish two attractive equity currencies.
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Source: The McGraw-Hill Companies
CFTC.gov Financial Data for Futures Commission Merchants Update
September 12, 2011--Selected FCM financial data as of July 31, 2011 (from reports filed by August 31, 2011) is now available.
view updates
Source: CFTC.gov
Volcker Rule Delay Is Likely
September 12, 2011--U.S. financial regulators are likely to miss an October deadline for the Volcker rule, a hotly contested part of last year's financial-overhaul law that limits financial firms from trading with their own money.
According to the Dodd-Frank law, regulators have until Oct. 18 to "adopt rules to carry out" the provision. But regulators haven't agreed yet on even a draft proposal of the rule, which is named for former Federal Reserve Chairman Paul Volcker, who first proposed the trading curbs.
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Source: Wall Street Journal
NYSE Euronext welcomes German Federal Financial Supervisory Authority (BaFin) approval of merger of Deutsche Börse and NYSE Euronext
September 12, 2011-- NYSE Euronext today issued the following comment regarding the news that Germany’s Federal Financial Supervisory Authority (BaFin) has approved the merger of Deutsche Börse and NYSE Euronext.
“NYSE Euronext welcomes the approval by the German Federal Financial Supervisory Authority (BaFin) for our industry transforming merger. With this approval, we have cleared another significant regulatory hurdle as we continue to make progress on completing the transaction by the end of the year.”
Completion of the transaction is subject to other relevant competition and financial, securities and other regulatory authorities in the U.S. and Europe.
Source: NYSE Euronext
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
September 12, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Monday, September 12, 2011:
CanElson Drilling Inc. (TSXVN:CDI) 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
Canadian equity funds drove ETF sales in August
Inverse ETFs saw a large outflow of assets during the month
September 12, 2011--Canadian equity funds garnered the lion’s share of new assets in the exchange-traded fund business in August, according to a new report from BlackRock Asset Management Canada Ltd.
The firm reports that Canadian equity ETFs generated almost $1.2 billion in new assets in August. More than half of that went into the iShares S&P/TSX 60 Index Fund, which recorded over $700 million in new assets during the month.
Overall, the industry saw net inflows of $1.6 billion in August. Commodity ETFs ranked a distant second to the Canadian equity category, with $400 million in new assets; and fixed-income funds were third, with $91 million worth. In the year-to-date, overall industry net inflows are now at $3.7 billion.
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Source: Investment Executive
Barclays Bank PLC to automatically redeem the iPath® Inverse January 2021 S&P 500 VIX Short-Term Futures™ ETN (ticker: IVO)
September 12, 2011--Barclays Bank PLC announced today the automatic redemption of its iPath® Inverse January 2021 S&P 500 VIX Short-Term FuturesTM Exchange Traded Note (ticker: IVO). The ETN is being redeemed as the result of an automatic termination event occurring on September 12, 2011, the automatic termination date.
As described in the prospectus, an automatic termination event occurs when the intraday indicative note value of the Notes on any trading day is equal to or less than the automatic termination level of $10.00. Details of the automatic termination event are below.
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Source: Baclay's Capital
Invesco PowerShares to Expand Fundamental Fixed Income Line with Investment Grade Corporate Bond Portfolio
September 12, 2011--Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), announced today that the PowerShares Fundamental Investment Grade® Corporate Bond Portfolio (PFIG) is anticipated to begin trading on September 15 on the NYSE Arca. The Fund is the first investment grade corporate bond ETF to use Research Affiliates’ Fundamental Index® methodology, and provides investors access to maturities ranging from 1-10 years. PFIG is expected to issue monthly distributions.
“We believe the PowerShares Fundamental Investment Grade Corporate Bond Portfolio (PFIG) represents an attractive alternative to market-cap-weighted fixed-income portfolios and provides investors the potential for improved risk-adjusted returns,” said Ben Fulton, Invesco PowerShares managing director of global ETFs.
Traditional bond indexes generally use some form of market-cap weighting by which constituent weights are a function of both the amount of debt issued and the debt’s current price. This approach results in greater weights being assigned to issuers that have issued more debt. It also means that bonds that are overvalued or undervalued relative to their peers will be over weighted or under weighted in the index.
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Source: Invesco PowerShares
