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International Securities Exchange Elects New Member To Board Of Directors
May 9, 2011--The International Securities Exchange (ISE) today announced that Stanley Choung has been elected to its Board of Directors, effective immediately. Mr. Choung, Managing Director of the Institutional Equity Division for Morgan Stanley, will serve as an industry director representing ISE’s Primary Market Makers (PMMs). He replaces Sean Flynn of Timber Hill LLC, who is retiring due to term limits.
In addition, Mark Dehnert, a Partner at Goldman Sachs & Co. responsible for the Quantitative Equities Trading businesses in their Securities Division and previously an ISE industry director representing Electronic Access Members (EAMs), was re-elected to the ISE Board as a Competitive Market Maker (CMM) representative. Slade Winchester, Head of U.S. and international business development, technology and operations for the Citigroup Derivatives Markets, Inc. options market makers and previously an ISE industry director representing CMMs, was re-elected to ISE’s Board as an EAM representative. The following non-industry directors were also re-elected: Michael Kuhn, Chief Information Officer of Deutsche Börse AG; Michael Monaco, Senior Managing Director of Conway Del Genio Gries & Co., LLC; Joseph Stefanelli, a non-industry director of ISE since 2007, and; Kenneth Vecchione, Chief Operating Officer of Western Alliance Bancorp. Gary Katz, President and Chief Executive Officer of ISE, was re-elected as ISE’s Chief Executive Officer Director.
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Source: International Securities Exchange (ISE)
ELX Sets Multiple Volume Records: Overall Exchange, Combined U.S. Treasury Futures, 5-Year and 30-Year Futures
May 9, 2011--ELX Futures, L.P. (ELX), a leading electronic futures exchange, announced today that it established multiple new end-of-day volume records on Friday, May 6, including overall exchange; combined U.S. Treasury futures contracts, 5-year note and 30-year bond.
ELX ended the session with a record of 148,308 contracts traded and 120,137 contracts traded for combined U.S. Treasuries. The 5-year note hit a record volume of 43,748 contracts traded and the 30-year bond also set a new record with 26,117 contracts traded.
Neal Wolkoff, Chief Executive Officer of ELX Futures, said, “This has been a record-achieving week for ELX with multiple new records set in our futures products. This shows the great strides ELX has made in the futures marketplace to capture new business. Momentum remains strong and we expect to continue to grow our volume, market share and customer base.”
Source: ELX Futures
First Trust Advisors L.P. introduces the FIRST ETF focused on the Global Manufacturing of Automobiles
May 6, 2011--First Trust Advisors L.P. (“First Trust”), the fastest growing
Exchange-Traded Fund (“ETF”) sponsor among the ten largest sponsors (by assets raised) since 2010,
announced today that Ryan Issakainen, Vice President, ETF Strategist, will ring the opening bell of The
NASDAQ Stock Market at 9:30 a.m. Eastern Time on Friday, May 13, 2011, to celebrate the release of
the first ETF focused on the global manufacturing of automobiles.
First Trust executives and guests will
participate in the event. The bell ringing will recognize the launch of the first automotive ETF in the
industry, the First Trust NASDAQ Global Auto Index Fund (NASDAQ: CARZ), which is expected to begin trading May 10, 2011. The Fund will seek investment results that correspond generally to the
price and yield (before the Fund’s fees and expenses) of the NASDAQ OMX Global Auto IndexSM, which is designed to track the performance of the largest and most liquid companies engaged in the
manufacturing of automobiles.
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Source: First Trust
SEC head eyes fast traders on crash anniversary
May 6, 2011-- The top U.S. securities regulator on Friday called for a broad reassessment of high-frequency trading on the one-year anniversary of the so-called "flash crash" of 2010.
"We need to assess the entire regulatory structure surrounding high frequency trading firms and their algorithms," said U.S. Securities and Exchange Commission Chairman Mary Schapiro at a funds conference.
Exactly one year after a sudden drop in U.S. stock markets that shook investor confidence,
read more Investors dump Canadian equity, commodity ETFs in April: BlackRock Fixed-income ETFs were the top-selling category in April with $138 million in net new sales. International equity funds had $55 million in net sales, and inverse funds added $35 million. read more NASDAQ-100 Data Explorers Optimized Index launched to enhance liquidity . The NASDAQ-100 Data Explorers Optimized Index offers a tradable benchmark that will enhance liquidity and protect both the long and short investor.The new index is unique because it screens out stocks that are either lacking in liquidity or relatively expensive to borrow in the stock lending market based on analytics from Data Explorers, the leading global provider of stock lending and short interest information.
The optimized version of the NASDAQ-100 Index retains the return and volatility characteristics of the original index, with enhanced liquidity to support both the long and short sides of the trade. The chart below shows the close relationship between the NASDAQ-100 Data Explorers Optimized Index and the NASDAQ-100 Index. read more
Some 16 funds for which it collects daily data, with a total net asset value of about $26 billion, saw just $40.7 million in net outflows on Thursday, when commodities went into free-fall as panic selling hit everything from oil to silver.
Source: Reuters
May 6, 2011--Exchange-traded funds saw $715 million in net outflows in April, according to data from BlackRock Asset Management Canada Ltd.
The firm reports that Canadian equity ETFs led the outflows, with $797 million worth during the month. Commodity funds also suffered $151 million in outflows
Source: Investment Executive
May 6, 2011--The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) and Data Explorers announced the introduction of the NASDAQ-100 Data Explorers Optimized Index (NASDAQ:NDXOPT).
The new index is an optimized version of the NASDAQ-100 Index® (NASDAQ:NDX), a globally recognized brand comprised of 100 of the world's largest, most dynamic non-financial companies.
Source: WFE
