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BM&FBOVESPA Begins Trading In Sustainability And Corporate Governance ETFs On Monday - The Two New ETFs Will Have Itaú As Manager
October 28, 2011--BM&FBOVESPA starts trading on Monday (October 31) in two new ETFs: the IT Now ISE Index Fund that tracks the BM&FBOVESPA Corporate Sustainability Index (ISE), and the IT Now IGCT Index Fund that tracks the BM&FBOVESPA Corporate Governance Trade Index (IGCT). They will have Itaú as their manager.
The IT Now ISE Index Fund tracks the Corporate Sustainability Index (ISE) and seeks to reflect the return on a portfolio composed of shares in companies with a recognized commitment to social responsibility and corporate sustainability.
The IT Now IGCT Index Fund tracks the BM&FBOVESPA Corporate Governance Trade Index (IGCT) and assesses the performance of shares in companies that voluntarily adopt differentiated corporate governance standards (listed at Level 1, Level 2 and the Novo Mercado) and which meet the inclusion criteria established in the index methodology.
Exchange traded funds (ETFs) are offered on the Brazilian Exchange in units. Generally speaking, round lots are made up of 10 units and require an initial minimum investment that ranges from BRL 200 to BRL 1,000 (depending on the ETF that the investor selects), plus brokerage and custody fees. An investor that buys a unit in an ETF is making a simultaneous investment in a share portfolio composed of firms in discrete sectors of the Brazilian economy, without having the buy the separate shares for each of the respective companies. In September, the eight ETFs that are traded on BM&FBOVESPA totaled 75,740 transactions and a financial volume of BRL 1.42 billion.
With the launch of the sustainability and corporate governance ETFs there are now 10 (ten) of these types of funds: three for broad indexes (BOVA11 which tracks the Ibovespa; BRAX11 which tracks the IBRx-100; and PIBB11 which tracks the IBrX-50); three for sector indexes (CSMO11 which tracks the consumer index; MOBI11 which tracks the real estate index; and FIND11 which tracks the financial index), as well as two market capitalization indexes (SMAL11 which tracks the performance of the index comprised of listed small caps; and MILA11 which tracks the performance of listed mid and large caps).
Itaú also won an exclusive one-year license to use the Dividend Index (IDIV) and the Basic Materials Index (IMAT), while BlackRock Brasil won an exclusive one-year license for the Public Utilities Index (UTIL).
Source: BM&FBOVESPA
Standard & Poor''s Announces Changes In The S&P/TSX Venture Indices
October 28, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Indices:
The Toronto Stock Exchange announced today in the Daily Bulletin that the shares of Ithaca Energy Inc. (TSXVN:IAE) will graduate to trade on TSX at the open of trading on Tuesday, November 1, 2011.
The ticker symbol will remain "IAE" and the CUSIP number will remain 465676 10 4. The company will be removed from the S&P/TSX Venture Composite Index after the close of trading on Monday, October 31, 2011.
Ithaca Energy is also a constituent of the S&P/TSX Venture Select Index. The company will be removed from this index effective after the close of Friday, November 4, 2011, at which time it will be listed on TSX. The company is also a constituent of the S&P/TSX Venture 30 Index. It will remain in this index, according to methodology, until the next index review after the end of January, 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
Direxion files with the SEC
October 28, 2011--Direxion has filed a post-effective amendment, registration statement with the SEC.
view filing
Source: SEC.gov
AdvisorShares files with the SEC
October 28, 2011-AdvisorShares has filed a post-effective amendment, registration statement with the SEC for the Active Bear ETF.
view filing
Source: SEC.gov
State Street files with the SEC
October 28, 2011--State Street has filed a post-effective amendment, registration statement with the SEC for the SPDR Series Trust.
view filing
Source: SEC,gov
CFTC.gov Commitments of Traders Reports Update
October 28, 2011--The current reports for the week of October 25, 2011 are now available.
view updates
Source: CFTC.gov
EGShares Renames The Emerging Markets High Income Low Beta ETF to the EGShares Low Volatility Emerging Markets Dividend ETF
October 28, 2011 – EGShares has renamed its Emerging Markets High Income Low Beta ETF as the EGShares Low Volatility Emerging Markets Dividend ETF. The fund’s NYSE Arca ticker “HILO” remains unchanged, as does the fund’s investment objective.
This change was based on client feedback and will make the fund’s desired objectives easily recognizable to investors. “Low volatility” is being used in place of low beta as it better describes the potential outcome of a low beta screen. “Dividend” is a more accurate description of the income distribution as the fund is comprised only of equities.
HILO, a passively managed ETF composed of low volatility stocks, is designed to provide high dividend income but have lower volatility than the MSCI Emerging Markets Index. The fund seeks to replicate the INDXX Low Volatility Emerging Markets Dividend Index, a composite of 30 stocks from 13 emerging markets countries, which has a yield of 6.791 percent. HILO does not use options, swaps, or other derivatives in its portfolio.
For more information on HILO, please visit www.egshares.com/hilo.
Source: Emerging Global Advisors
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
October 27, 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 27, 2011:
Inca Pacific Resources Inc. (TSXVN:IPR) will be removed from the index.
The shares of the company will be delisted from the TSX Venture Exchange having been acquired by Compania Mineral Milpo SAA (Lima:MIL).
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.
Standard & Poor's
NYSE Euronext Announces Stock Buy-Back Plan - $100 Million Plan To Commence After 3Q11 Earnings
Announcement With Expected Completion In 4Q11
October 27, 2011-- NYSE Euronext (NYX) today announced plans to repurchase up to $100 million in NYSE Euronext common stock at the discretion of management in open market or privately negotiated transactions or otherwise, subject to applicable United States and European laws, regulations and approvals,
strategic considerations, market conditions and other factors. In conjunction with NYSE Euronext’s announced plan, Deutsche Boerse has also announced a buy-back plan of around EUR 100 million. NYSE Euronext and Deutsche Boerse have agreed to coordinate their respective share buyback programs in order to preserve the ownership percentages of 40% and 60% to be held by former NYSE Euronext and Deutsche Boerse shareholders, respectively, in the combined company following the pending business combination.
It is anticipated that the NYSE Euronext repurchase plan will commence after the release of third quarter 2011 earnings on November 3, 2011 and will be completed in the fourth quarter of 2011. The $100 million buy-back is being executed under a $1.0 billion Board authorization issued in March of 2008 and suspended in the fourth quarter of 2008. Before the suspension of the plan, a total of $350 million of the $1.0 billion authorized amount was utilized.
read more
Source: NYSE Euronext
SEC Orders FINRA to Improve Internal Compliance Policies and Procedures
October 27, 2011--The Securities and Exchange Commission today ordered the Financial Industry Regulatory Authority (FINRA) to hire an independent consultant and undertake other remedial measures to improve its policies, procedures, and training for producing documents during SEC inspections.
According to the SEC’s order instituting settled administrative proceedings, certain documents requested by the SEC’s Chicago Regional Office during an inspection were altered just hours before FINRA’s Kansas City District Office provided them.
“The law requires FINRA to produce the documents the SEC seeks in its examinations in complete and accurate form,” said Gerald Hodgkins, Associate Director of the SEC’s Division of Enforcement. “Although FINRA has previously taken steps to improve compliance, those enhancements did not go far enough to prevent the document production failure that occurred in its Kansas City District Office. This order will help ensure that FINRA effectively addresses the weaknesses in its training as well as its policies and procedures.”
view order
Source: SEC.gov
