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Vanguard to launch six ETFs in Canada
August 23, 2011--U.S. investment fund goliath Vanguard Group Inc. has filed a preliminary prospectus to launch six exchange-traded funds (ETFs) in Canada.
The stock ETFs include Vanguard MSCI Canada and the Vanguard MSCI Emerging Markets, as well as the Vanguard MSCI U.S. Broad Market and Vanguard MSCI EAFE, which will both be hedged to Canadian dollars. The bond category includes Vanguard Canadian Aggregate Bond and Vanguard Canadian Short-Term Bond ETFs.
Vanguard, founded by index-investing champion John Bogle and known for its rock-bottom fees, is the latest player to jump into the Canadian ETF market that is dominated by the iShares Canada division of U.S.-based Blackrock Inc.
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Source: Globe and Mail
FlexShares files with the SEC
August 22, 2011--FlexShares has filed a third amended and restated application for exemptive relief with the SEC.
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Source: SEC.gov
Pimco files with the SEC
August 22, 2011--Pimco has filed a post-effective amendment, registration statement with the SEC for the PIMCO Foreign Currency Strategy Exchange-Traded Fund (FORX), an actively-managed ETF.
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Source: SEC.gov
Deutsche Bank to Repurchase Three ELEMENTS(SM) Exchange Traded Notes
August 22, 2011--Deutsche Bank announced today the repurchase of all outstanding securities in three ELEMENTSSM Exchange Traded Notes (ETNs) linked to the Benjamin GrahamSM indexes, pursuant to its repurchase right under the terms of the ETNs.
The ETNs are:
ELEMENTSSM Benjamin Graham Total Market Value Index-Total Return ETN (NYSE Arca:BVT)
ELEMENTSSM Benjamin Graham Large Cap Value Index-Total Return ETN (NYSE Arca:BVL)
ELEMENTSSM Benjamin Graham Small Cap Value Index-Total Return ETN (NYSE Arca:BSC)
Holders of the ETNs as of August 23, 2011 (the “repurchase valuation date”) will receive a cash payment in an amount equal to the daily repurchase value on such date. The payment of the repurchase value is expected to be made on August 26, 2011 (the “repurchase date”), the third business day following the repurchase valuation date. The repurchase valuation date and the repurchase date are subject to postponement for certain market disruptions events. The daily repurchase value on the repurchase valuation date will be made available on the product website at www.elementsetn.com as soon as practicable after August 23, 2011. The ETNs are expected to be suspended from trading on August 25, 2011.
Source: Deutsche Bank
EGA Emerging Global Shares files with the SEC
August 19, 2011--EGA Emerging Global Shares has filed a post-effective amendment no.15, registration statement with the SEC for the EGShares China Mid Cap ETF.
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Source: SEC.gov
CFTC.gov Commitments of Traders Reports Update
August 19, 2011--The current reports for the week of August 16, 2011 are now available.
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Source: CFTC.gov
Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices
August 19, 2011--Standard & Poor's Canadian Index Operations announces the following index changes:
On August 18, 2011, the bid by Canadian Tire Corporation (TSX:CTC.A) to acquire Forzani Group Ltd. (TSX:FGL) expired. Canadian Tire will acquire Forzani Group for $CDN26.50 cash per share.
Forzani Group will be removed from the S&P/TSX Composite and Capped Composite, the S&P/TSX Completion and Equity Completion, the S&P/TSX Equity and Capped Equity,the S&P/TSX SmallCap and Equity SmallCap, the S&P/TSX Capped Consumer Discretionary and the S&P/TSX Composite Dividend Indices effective after the close of Wednesday, August 24, 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
Component Changes Made To Dow Jones China Indexes
August 19, 2011--Dow Jones Indexes, a leading global index provider, today announced component changes in the Dow Jones China Broad Market, Dow Jones Shanghai, Dow Jones CBN China 600 and Dow Jones CBN China 600 Retail Blue-Chip Indexes.
Due to its acquisition by Shanghai Friendship Group Inc Co A (Retail, 600827.SH), Shanghai Bailian Group Co. Ltd. (Retail, 600786.SH) will be deleted from the Dow Jones China Broad Market, Dow Jones Shanghai, Dow Jones CBN China 600 and Dow Jones CBN China 600 Retail Blue-Chip Indexes.
China Avic Avionics Equipment Co. Ltd. (Automobiles & Parts, 600372.SH) will replace Shanghai Bailian Group Co. Ltd. in the Dow Jones CBN China 600 Index.
Hefei Department Store Group Co. Ltd. (Retail, 000417.SZ) will replace Shanghai Bailian Group Co. Ltd. in the Dow Jones CBN China 600 Retail Blue-Chip Index.
No new component will be added to the Dow Jones China Broad Market and Dow Jones Shanghai Indexes at this time.
The changes in the Dow Jones China Broad Market, Dow Jones Shanghai, Dow Jones CBN China 600 and Dow Jones CBN China 600 Retail Blue-Chip Indexes will be effective as of the open of trading on Tuesday, August 23, 2011.
Further information about the Dow Jones China Indexes is available at www.djindexes.com
Source: Dow Jones Indexes
CFTC’s Office of Chief Economist to Host Conference on Commodity Markets
August 19, 2011--The Commodity Futures Trading Commission’s (CFTC) Office of Chief Economist will host a high-level research conference on August 25-26, 2011, to discuss key issues affecting commodity markets. CFTC Chairman Gary Gensler will give opening remarks at 9 a.m. on August 25, 2011.
The first day of the conference will feature presentations of academic papers grouped into three distinct subject areas: commodity index trading, market sentiment, and hedging and arbitrage.
The second day will consist of two academic panels. The first panel, organized jointly with the Energy Information Administration (EIA) of the U.S. Department of Energy, will focus on issues related to the energy markets. The second panel, organized jointly with the Economic Research Service (ERS) of the U.S. Department of Agriculture, will address issues associated with the agricultural markets.
Howard Gruenspecht, Acting Administrator of the EIA, will give opening remarks at the beginning of the first panel. Laurian Unnevehr, Acting Administrator of the ERS, will give opening remarks at the beginning of the second panel.
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Source: CFTC.gov
CFTC and SEC Seek Public Input for Joint Study on Stable Value Contracts
August 19, 2011--The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have approved for publication in the Federal Register a request for comment that is expected to assist in conducting a joint study on stable value contracts.
Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act provides for the comprehensive regulation of swaps and security-based swaps and includes definitions of key terms relating to such regulation. It requires the CFTC and the SEC to jointly conduct a study to determine whether stable value contracts fall within the definition of a swap and, if so, whether exempting such contracts from the swap definition is appropriate and in the public interest.
The Dodd-Frank Act calls for the CFTC and the SEC to make the determination in consultation with the Department of Labor, the Department of the Treasury and the state entities that regulate the issuers of stable value contracts.
Comments must be received on or before 30 days after publication in the Federal Register.
Source: CFTC.gov
