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Commodity Futures Trading Commission Votes to Establish a New Subcommittee of the Technology Advisory Committee (TAC)
New Subcommittee on Data Standardization is Seeking Nominations for Members
May 2, 2011--Commissioner Scott D. O’Malia, the chairman of the Technology Advisory Committee (TAC), announces that the Commission has voted to establish a Subcommittee on Data Standardization to develop recommendations regarding a standardized reference data depository representing the universe of legal and financial terms utilized in describing, defining, and valuing the various derivatives and other financial instruments which are presently and in the future may be traded on and off of regulated exchanges.
The creation of standardized reference points and data terms is anticipated to aid in the development and use of universal entity, product, and/or instrument identifiers and provide greater consistency in the collection, reporting, and management of individual transactions, underlying legal documents (including master agreements and credit support agreements), and risk exposures.
“The data and reporting mandates of the Dodd-Frank Act place the CFTC in the center of the complex intersection of data, finance and the law. There is a need and desire to go beyond legal entity identifiers and lay the foundation for universal data terms to describe transactions in an electronic format that are identifiable as financial instruments and recognizable as binding legal documents.
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Source: CFTC.gov
Fee Rate Advisory #1 for Fiscal Year 2012
May 2, 2011--The Securities and Exchange Commission today announced that, if a regular appropriation to the Commission for fiscal year 2012 is enacted on or before Oct. 1, 2011, the fees rates applicable to most securities transactions will decrease from $19.20 per million dollars to $15.10 per million dollars in fiscal year 2012. The new fee rates will go into effect on the later of Oct. 1, 2011 or 30 days after the appropriation is enacted. The assessment on security futures transactions will remain unchanged at $0.0042 for each round turn transaction.
The Commission determined these new rates in accordance with Section 31 of the Securities Exchange Act of 1934 (Exchange Act). Accordingly, the Commission consulted with both the Congressional Budget Office and the Office of Management and Budget regarding the annual adjustment. These adjustments do not affect the amount of funding available to the Commission. A copy of the Commission’s order issued April 29, including the calculation methodology, is available at: http://www.sec.gov/rules/other/2011/34-64373.pdf
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Source: SEC.gov
Dow Jones Indexes’ The Global Dow to Become Underlying Index for State Street Global Advisors’ SPDR Global Dow ETF
Stocks of 150 of the World’s Leading Companies Comprise The Global Dow.
May 2, 2011--Dow Jones Indexes, a leading global index provider, today announced The Global Dow, which measures the stock performance of 150 of the world’s leading companies, will become the underlying index for State Street Global Advisors’ SPDR® Global Dow ETF, effective May 2, 2011.
The equally weighted 150 stocks in The Global Dow are selected by an Averages Committee comprised of the Managing Editor of The Wall Street Journal, the head of Dow Jones Indexes research and the head of CME Group research – the same selection process used by the Dow Jones Industrial Average. (In 2010, CME Group acquired 90% of Dow Jones Indexes from Dow Jones & Co., a division of News Corp., and publisher of The Wall Street Journal.)
“The Global Dow tracks leading companies from around the world,” said Michael A. Petronella, President, Dow Jones Indexes. “By covering both the developed and emerging economies of the world, The Global Dow truly reflects, as closely as possible, the global stock market as it exists today.”
James Ross, Senior Managing Director and Global Head of SPDR Exchange Traded Funds at State Street Global Advisors, said: “We’re pleased to provide investors with access to The Global Dow, an innovative benchmark often viewed as a global extension of the Dow Jones Industrial Average.”
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Source: Dow Jones Indexes
Rydex sees ETP assets jump by a third in four months
May 2, 2011--ETF provider Rydex|SGI has seen assets across the firm's exchange traded product platform reach the USD8.5 billion mark
The total, which includes the RydexShares and CurrencyShares products, represents a 33% jump in assets under management, from USD6.2 billion to USD8.5 billion, since 1 November of last year. Rydex|SGI currently ranks ninth in AUM among all ETF providers, according to Morningstar.
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Source: ETF Express
Chi-X Canada Surpasses 10 Percent Market Share Milestone
May 2, 2011 – Chi-X Canada ATS Limited, a wholly-owned subsidiary of alternative trading venue operator Chi-X Global Inc., today announced it set a new firm trading record on Wednesday, April 27, trading over 10 percent (71,731,700 shares) of total TSX-listed share volume.
In addition, Chi-X Canada accounted for 19.36% of the market’s overall trades, 11.14% of the market’s overall value traded, and, through its smart router, handled 13.16% of the market’s overall volume.
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Source: Chi-X Canada
BM&FBOVESPA launches four new indices
Get to know Broad Brazil Index, Dividend Index, Basic Material Index and Utilities Index
May 2, 2011--As of Monday, BM&FBOVESPA starts the calculation and publication in real time of four new indices: the BM&FBOVESPA Brazil Broad-Based Index (IBrA), BM&FBOVESPA Dividend Index (IDIV), BM&FBOVESPA Basic Materials Index (IMAT) and the BM&FBOVESPA Public Utilities Index (UTIL).
The new indices will help diversify investment strategies and make it possible to create Exchange-Trade Funds (ETFs).
The Broad Brazil Index debuts with 153 stocks and allows a broad view of the Brazilian stock market. It covers all of the stocks for companies listed on BM&FBOVESPA that meet the minimum liquidity criteria, such as: inclusion in a group of stocks whose combined negotiability indices represent 99% of the total value of all individual indices, and whose trading session participation is equal to or greater than 95% in the previous 12 months to calculation of the index.
The Dividend Index measures the performance of shares in companies that are outstanding in terms of remuneration to investors in dividends and interest on own capital (dividend yields) in the 24 months previous to selection for the portfolio.
The Basic Material Index is composed of shares most representative of the packaging, wood and paper, miscellaneous materials, mining, chemicals, steel and metallurgy sectors.
The Utilities Index measures the performance of shares in companies that most represent the public utilities sector, which includes electricity, water and sanitation, and gas.
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Source: BM&FBOVESPA
April is Second-busiest Month All-time at CBOE Futures Exchange,
VOLUME TOPS 800,000 CONTRACTS
The Four Most-Active Trading Months in CFE History Have Occurred in First Four Months of 2011
May 2, 2011--The CBOE Futures Exchange, LLC (CFE) today announced that trading volume during April 2011 totaled 834,892 contracts, which ranks as the second busiest month all-time to-date at CFE. April 2011 volume exceeded the 296,541 contracts traded in April 2010 by 182 percent.
When compared to the record trading in March, when volume surpassed the one-million-contract milestone (1,066,367 contracts) for the first time ever, April's trading activity declined by 22 percent.
April 2011 was the most active month of April on record at CFE and marked the nineteenth consecutive month in which total volume registered an increase when comparing year-over-year trading activity. The five busiest months in CFE history include the first four months of 2011
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Source: CBOE
CBOE Holdings, Inc. Reports First Quarter 2011 Results; Diluted EPS of $0.36, Up 44 Percent
Financial Highlights
Operating Revenues Increase 23 Percent to $124.0 Million
Net Income Allocated to Common Stockholders of $32.1 Million, Up 42 Percent
Adjusted Operating Margin of 46.7 Percent, Highest in Nine Quarters (1)
Cash Flow from Operations Up 25 Percent to $78.2 Million
Average Daily Trading Volume Increases 12 Percent to 5.1 Million Contracts
May 2, 2011--CBOE Holdings, Inc. today reported first quarter 2011 net income allocated to common stockholders of $32.1 million, an increase of 42 percent compared with net income of $22.7 million in the first quarter of 2010.
Diluted earnings per share (EPS) were $0.36, up 44 percent from 2010's first quarter EPS of $0.25. Operating revenues for the first quarter grew 23 percent to $124.0 million from $101.1 million in the prior year period.
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Source: CBOE
NYSE Euronext Comments On Nasdaq/ICE Announcement That It Intends to Commence Exchange Offer On Same Terms That Have Been Unanimously Rejected
May 2, 2011--NYSE Euronext (NYSE: NYX) notes that Nasdaq OMX Group, Inc. (Nasdaq: NDAQ) and Intercontinental Exchange Inc. (NYSE: ICE) have announced their intention to begin an unsolicited exchange offer some time in May to acquire all outstanding shares of NYSE Euronext. NYSE Euronext further notes that Nasdaq and ICE have announced that the terms of the offer will be the same as previously proposed.
On April 21, 2011, NYSE Euronext’s Board of Directors unanimously rejected this proposal from Nasdaq OMX/ICE. NYSE Euronext’s financial advisers are Perella Weinberg Partners, BNP Paribas, Goldman, Sachs and Co., and Morgan Stanley & Co., Inc. Its legal advisers are Wachtell, Lipton, Rosen & Katz, Stibbe N.V. and Milbank, Tweed, Hadley & McCloy LLP.
Source: NYSE Euronext
ELX Announces Solid April Results With Strong Performances In 5 and 30-Year U.S. Treasury Futures And Record Average Open Interest In Eurodollar Futures
May 2, 2011--ELX Futures, L.P. (ELX), a leading electronic futures exchange, announced today that it continued to add new participants and see solid growth and strong performances in its futures products in the month of April.
Highlights include the 30-year bond having its best performing market
share month ever, the 5-year note having its best performing market share
month of the year in April, and Eurodollar futures setting a record in
combined average open interest (OI).
ELX traded 1.6 million contracts during April and had a particularly
strong performance in several of its benchmarks. Market share for the
month of April in the 5-year note hit 3.7%, its best performance of the
year, while market share for the 30-year bond set a record 4.6% for the
month of April. Combined average OI in Eurodollar futures established a
new record, rising to nearly 326K contracts in the month of April.
Neal Wolkoff, Chief Executive Officer of ELX Futures, said, "In an
increasingly competitive market landscape ELX continues to perform well
and attract interest from new market participants. Our low fees, superior
technology and services, and competitive initiatives to benefit the
customer remain the keys to our growth and success."
Source: ELX Futures
