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Statement on the Formation of an Energy Markets Working Group
Statement of CFTC Commissioner Bart Chilton on the Formation of an Energy Markets Working Group-Commissioner Bart Chilton
April 21, 2011-“This kind of constructive cooperation and coordination is exactly the type of focused effort we need in government. Consumers are having their wallets siphoned every time they fill up their gas tanks. Filling up the car has become the second highest item in the household budgets of many families.
I look forward to the group’s work, especially in rooting out fraud, abuse or manipulation in the energy markets. I remain convinced that excessive speculation is a part of the problem and should be part of the group’s focus, too. There are multi-agency issues in investigations that can benefit from the unwavering specificity of such a working group. The Administration has done the right thing by trying to get to the bottom of the pump price push.”
Source: CFTC.gov
Standard & Poors Announces Changes In The S&P/TSX Venture Composite Index
April 21, 2011--Standard & Poorswill make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Thursday, April 21, 2011:
The shares of the company will graduate to trade on the TSX under the same ticker symbol. The shares of the company will also be consolidated on a 1-for-5 basis.
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.
Souce: Standard & Poors
PowerShares DB Commodity Index Tracking Fund (DBC) Celebrates Five-Year Anniversary
April 20, 2011--DB Commodity Services LLC, a wholly-owned subsidiary of Deutsche Bank AG, and Invesco PowerShares Capital Management LLC, a leading provider of exchange-traded funds (ETFs), are commemorating the five-year anniversary of the PowerShares DB Commodity Index Tracking Fund (NYSE Arca: DBC), the first and largest broad-based commodity ETF listed in the U.S.
DBC, the original commodity ETF designed with a rules-based index methodology, helps investors minimize the effects of negative roll yield that can be experienced with conventional commodity indexes.
Since its inception, DBC has outperformed two benchmark broad commodity indexes as well as the S&P 500. For the five-year period ending March 31, 2011, DBC achieved a cumulative total return of 36.14% based on NAV (net asset value), significantly outperforming the two benchmark broad commodity indexes, which had a cumulative total returns ranging between -15.61% and 13.50%
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Source: Invesco PowerShares
CFTC to Hold Open Meeting on Fourteenth Series of Proposed Rules under the Dodd-Frank Act
April 20, 2011-- The Commodity Futures Trading Commission (CFTC) will hold a public meeting on Wednesday, April 27, 2011, at 9:30 a.m. to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act on the following topics:
Capital Requirements of Swap Dealers and Major Swap Participants;
Protection of Cleared Swaps Customer Contracts and Collateral and Conforming Amendments to the Commodity Broker Bankruptcy Provisions;
Product Definitions Contained in Title VII of the Dodd-Frank Act; and
Amendments to Adapt Certain CFTC Regulations to the Dodd-Frank Act.
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Source: CFTC.gov
First Trust files with the SEC
April 20, 2011-First Trust has filed a post-effective amendment, registration statement with the SEC for the First Trust ISE Cloud Computing Index Fund.
view filing
Source: SEC.gov
Pimco files with the SEC
April 20, 2011-Pimco has filed a post-effective amendment, registration statement with the SEC for the PIMCO Total Return Exchange-Traded Fund an actively-managed ETF.
view filing
Source: SEC.gov
NASDAQ OMX Reports Record First Quarter 2011 Results
Non-GAAP Diluted EPS of $0.61 Represents 42% Increase Over Q110 Results
April 20, 2011---- The NASDAQ OMX Group, Inc. (NASDAQ OMX) (Nasdaq:NDAQ) reported strong results for the first quarter of 2011. Net income attributable to NASDAQ OMX for the first quarter of 2011 was $104 million, or $0.57 per diluted share, compared with $137 million, or $0.69 per diluted share, in the fourth quarter of 2010, and $61 million, or $0.28 per diluted share, in the first quarter of 2010.
Included in the first quarter of 2011 results are $9 million of expenses associated with merger and strategic initiatives, a sublease loss reserve, and other items.
Financial Highlights:
Net exchange revenues were $415 million, a 15% increase over Q110 results.
Non-GAAP operating income improved to $190 million, up 19% from the prior year quarter, while operating margins increased to 46%.
Non-GAAP Net Income was $110 million, an increase of 20% over Q110 results.
Non-GAAP diluted EPS increased to $0.61, up from $0.43 in the prior year quarter.
GAAP diluted EPS increased to $0.57, up $0.29 from $0.28 in the first quarter of 2010.
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SourceL NASDAQ OMX
Brazil raises rates to 12%
April 20, 2011--Brazil’s central bank has raised interest rates less than expected, indicating that policymakers are planning to rely on other tools to stem rising inflation
The Banco Central do Brasil monetary policy meeting, headed by central bank president Alexandre Tombini, voted to raise the benchmark Selic interest rate by 25 basis points, from 11.75 per cent to 12 per cent.
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Source: FT.com
SEC Announces Roundtable on International Financial Reporting Standards
April 20, 2011 — The Securities and Exchange Commission staff announced today that it will sponsor a roundtable in July to discuss benefits or challenges in potentially incorporating International Financial Reporting Standards (IFRS) into the financial reporting system for U.S. issuers.
The July 7 event will feature three panels representing investors, smaller public companies, and regulators. The panel discussions will focus on topics such as investor understanding of IFRS and the impact on smaller public companies and on the regulatory environment of incorporating IFRS.
“We must carefully consider and deliberate whether incorporating IFRS into our financial reporting system is in the best interest of U.S. investors and markets,” said SEC Chief Accountant James Kroeker. “This roundtable will provide an excellent opportunity for investors, preparers, and regulators to provide the SEC staff with valuable information that will help the Commission in its ongoing consideration of incorporating IFRS.”
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Source: SEC.gov
Pimco's new ETF to focus on US debt
April 20, 2011--Bill Gross, manager of the world’s largest mutual fund, is to run a new exchange-traded fund for Pimco.
The involvement of such a high-profile investor in an actively traded ETF will attract attention, and assets, to a corner of an industry better known as a cheap and flexible way to make passive investments.
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Source: FT.com
