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Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
October 7, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Tuesday, October 11, 2011:
Alderon Iron Ore Corp. (TSXVN:ADV) will be removed from the index as well as the S&P/TSX Venture Select 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
Standard & Poor's Announces Changes In The S&P/TSX SmallCap Index
October 7, 2011--Standard & Poor's will make the following changes in the S&P/TSX SmallCap Index after the close of trading on Tuesday, October 11, 2011:
Shareholders of Candente Copper Corp. (TSX:DNT) approved on August 23, 2011, the Plan of Arrangement whereby the company will spin out certain copper and lead-zinc properties in Peru.
For every 5 shares of Candente held, shareholders will receive 1 share of a new company named Cobriza Metals Corp. Cobriza will trade on TSX for the first time (the ex-date of the spin-off) on October 12, 2011, under the ticker symbol "CZA" and the CUSIP number 19105V 10 5. The spun out shares of Cobriza will be added at zero price to the S&P/TSX SmallCap and Equity SmallCap Indices after the close of trading on Tuesday, October 11, 2011. There will be no divisor changes for either of these indices as a result of these additions.
Effective after the close of Wednesday, October 12, 2011, the shares of Cobriza will be removed from the same two indices and new divisors will be created.
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
Javelin files with the SEC
October 7, 2011--Javelin has filed a Post-Effective Amendment relating solely to the JETS Contrarian Opportunities Index Fund.
view filing
Source: SEC.gov
Maple Group Provides Update On Regulatory Process
October 7, 2011--Maple Group Acquisition Corporation ("Maple"), a corporation whose investors comprise 13 of Canada's leading financial institutions and pension funds, announced today that it has submitted applications for regulatory approval to each of the Ontario Securities Commission ("OSC"), Autorité des marchés financiers ("AMF"), Alberta Securities Commission and British Columbia Securities Commission, in connection with Maple's proposal to acquire 100% of TMX Group Inc. ("TMX Group") (TSX: X) shares in an integrated acquisition transaction valued at approximately $3.8 billion.
Maple has been advised that each of the applicable securities regulatory authorities has or intends to publish and accept public comments on the securities applications and that the OSC and AMF intend to subsequently convene public hearings in December 2011in respect of the securities applications. Copies of Maple's securities applications are available at www.abetterexchange.com. Maple welcomes the opportunity to continue its dialogue with the securities commissions to address the issues raised in their notices and requests for comments. Maple is also in the process of responding to Supplementary Information Requests issued by the Commissioner of Competition.
Speaking on behalf of Maple's investors, Luc Bertrand said, "These applications mark an important milestone in the regulatory process and set out further details of our vision for an integrated exchange and clearing group that is well-positioned to pursue new growth opportunities and meet the needs of Canada's capital markets and capital market participants. We are moving forward with our offer, our discussions with the TMX Group are ongoing and we remain confident we can obtain all necessary regulatory approvals by early 2012."
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Source: Maple Group Acquisition Corporation
iShares files with the SEC-iShares MSCI EAFE Minimum Volatility Index Fund
October 6, 2011--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares MSCI EAFE Minimum Volatility Index Fund.
view filing
Source: SEC.gov
Claymore files with the SEC
October 6, 2011--Claymore has filed a post-effective amendment, registration statement with the SEC for the >Guggenheim Yuan Bond ETF.
view filing
Source: SEC.gov
New Firm First Bridge to Offer Custom ETF Research to Independent Financial Advisors
Founded by former S&P Indices executive
Initial focus on Exchange Traded Funds (ETFs)
October 6, 2011--First Bridge (www.firstbridgedata.com) announced today that it will provide custom research services to independent financial advisors. Its initial focus will be on Exchange Traded Funds (ETFs). First Bridge also provides an ETF screener and comparison tools on its website for a monthly subscription fee.
First Bridge is founded by Aniket Ullal, previously an executive at S&P Indices, where he had product responsibility for S&P's US indices, including the widely tracked S&P 500. The firm will draw on this industry expertise and its independence to become a trusted partner for advisors. First Bridge does not structure or promote any financial products.
First Bridge executes fast turnaround custom ETF research that delivers insights. This could include comparing ETFs within an asset class, preparing a research note on a new type of ETF, analyzing trends in index data, etc. Custom research services are fixed price based on scope and complexity. The web subscription for the ETF screening tools is currently priced at $19/month.
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Source: First Bridge
BlackRock-ETFs: A Call for Greater Transparency and Consistent Regulation
October 6, 2011-Viewpoint
Introduction
For more than twenty years, exchange traded funds (ETFs) have allowed
investors—both individual and institutional—to gain access to a broad range of asset classes using a low cost, transparent investment vehicle that can be easily traded on an exchange. ETFs are investment products that can help individuals build a nest egg, prepare for retirement, or save for their children’s education. They also help institutions such as large pension plans, foundations and endowments meet their financial obligations.
Like all securities, ETFs are regulated by various government agencies in
different countries around the globe. Over the last decade, innovations in the
financial industry, in part driven by technology, have changed capital markets
significantly and have affected the way all securities, including ETFs, trade.
Regulations, however, may need to further adapt to the rapid changes in the marketplace.
At the same time, some financial institutions have launched a variety of new products that trade on exchanges which are also referred to as “ETFs.” However, some of these new products may provide less transparency than traditional ETFs that hold physical securities and may inadvertently introduce additional risk for the investor arising from the management, construction and performance characteristics of these products. With the proliferation of these new products, critics have questioned whether existing regulations ensure that investors fully understand what they are buying and fully appreciate the risks and costs. The industry has much work to do to address such criticisms, including the development of new regulations regarding transparency.
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Source: BlackRock
ProShares Launches First Geared Natural Gas Futures ETFs
Expands Lineup of Geared Commodity ETFs to 10
)October 6, 2011--ProShares, a premier provider of alternative exchange traded funds (ETFs), today announced the launch of ProShares Ultra DJ-UBS Natural Gas (NYSE: BOIL) and ProShares UltraShort DJ-UBS Natural Gas (NYSE: KOLD), the first ETFs in the United States providing magnified or inverse exposure to natural gas futures.
ProShares Ultra DJ-UBS Natural Gas seeks to provide 2x the daily performance of the Dow Jones-UBS Natural Gas Subindex, before fees and expenses. ProShares UltraShort DJ-UBS Natural Gas seeks to provide -2x the daily performance of the Dow Jones-UBS Natural Gas Subindex, before fees and expenses. The ETFs list on NYSE Arca today.
"There has been strong demand for geared commodity ETFs, as investors have come to recognize the importance of commodities as part of their alternatives allocation," said Michael L. Sapir, Chairman and CEO of ProShare Capital Management, the sponsor of the funds. "We are pleased to introduce the first geared ETFs designed to help investors manage risk or act on their views on natural gas.”
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Source: ProShares
BlackRock unit iShares focused on ETFs
October 6, 2011--BlackRock Inc. became a Wall Street behemoth by serving institutional clients. Now the world's largest money manager is devoting more of its time to individual investors.
As part of that plan, the New York firm is looking to its iShares unit in San Francisco to attract more financial advisers and individual investors in the retail market - rather than the pensions, endowments and institutions that serve as BlackRock's main customers.
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Source: sfgate.com
