Americas ETP News
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BlackRock Sees Growth In Brazil's ETF Market
March 23, 2011--More exchange-traded funds are likely to become available in Brazil as the market continues to grow, according to U.S. asset manager BlackRock Inc. (BLK).
ETFs are like mutual funds but they are traded on stock exchanges, allowing investors to participate in more sophisticated strategies, such as indexes, without needing the structure of a fully fledged asset management firm. They have become extremely popular in the U.S. and Europe by opening a window to assets that were otherwise shut off to small-scale investors.
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Source: FOX Business
Two IndexIQ Small Cap ETFs List on NYSE Arca
March 23, 2011-- NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading theIQ Canada Small Cap ETF (Ticker: CNDA),and theIQ Australia Small Cap ETF (Ticker: KROO).The ETFs are sponsored by IndexIQ.
IQ Canada Small Cap ETF
The Fund seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of its underlying index, the IQ Canada Small Cap Index, which is a rules based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of the small capitalization sector of publicly traded companies domiciled and primarily listed on an exchange in Canada.
IQ Australia Small Cap ETF
The Fund seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of its underlying index, the IQ Australia Small Cap Index, which is a rules based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of the small capitalization sector of publicly traded companies domiciled and primarily listed on an exchange in Australia.
Source: NYSE Euronext
AT&T Buys Deutsche Telekom’s U.S. Business for $39 Billion
March 23, 2011--AT&T Inc. (T) agreed to buy T-Mobile USA from Deutsche Telekom AG (DTE) for about $39 billion in cash and stock to create America's largest mobile-phone company, trumping Sprint Nextel Corp. (S)'s effort to acquire the business.
The deal would allow AT&T, now the second-largest U.S. wireless operator, to add about 34 million customers and surpass Verizon Wireless. The acquisition, the largest in the wireless industry since 2004, may face government scrutiny because it combines the second- and fourth-largest wireless providers, reducing consumer choice. Regulatory approval may take a year, Dallas-based AT&T said.
Source: Bloomberg
Charles Schwab has been busy coming up with a platform to add exchange traded funds into an all-ETF 401 plan by early 2012. How is the progress as of now?
March 23, 2011-Charles Schwab has been busy coming up with a platform to add exchange traded funds into an all-ETF 401 plan by early 2012. How is the progress as of now?
Schwab isn't the first-mover in this growing space, but when the plan launches, it will be the biggest player by a long shot.
.The move is huge for the ETF industry, which has been trying in cracking this market.
Record-keeping is the only thing holding back ETFs from truly breaking into the 401 market, but several 401 plan providers are working around this obstacle and proving its a minor glitch, at the most.
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Source: World of finance
Component Changes Made to Dow Jones Select Dividend and Dow Jones Titans Indexes
March 23, 2011--Dow Jones Indexes, a leading global index provider, today announced component changes in the Dow Jones Select Dividend, Dow Jones Country Titans and Dow Jones Sector Titans Indexes.
In the Dow Jones Global Select Dividend Index, Milano Assicurazioni S.p.A. (Italy, Insurance, MI.MI) will be replaced by Astrazeneca PLC (United Kingdom, Health Care, AZN.LN).
In the Dow Jones EPAC Select Dividend Index, Milano Assicurazioni S.p.A. (Italy, Insurance, MI.MI) will be replaced by Belgacom S.A. (Belgium, Telecommunications, BELG.BT).
In the Dow Jones Italy Select Dividend 20 Index, Milano Assicurazioni S.p.A. (Italy, Insurance, MI.MI) will be replaced by Geox S.p.A. (Italy, Personal & Household Goods, GEO.MI).
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Source: Dow Jones Indexes
CFTC to Hold Open Meeting on Thirteenth Series of Proposed Rules under the Dodd-Frank Act
March 23, 2011-- The Commodity Futures Trading Commission (CFTC) will hold a public meeting on Wednesday, March 30, 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:
Parts 1, 5, 7, 15, 30, 36, 37, 41 and 155 conforming amendments, and
Swap data recordkeeping and reporting requirements for pre-enactment and transition swaps.
The meeting will be open to the public on a first-come, first-served basis.
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Source: CFTC.gov
CFTC Seeks Public Comment on Request from the Options Clearing Corporation to Amend Order Permitting Operation of an Internal Non-Proprietary Cross-Margining Program
March 23, 2011-- The Commodity Futures Trading Commission (Commission) is requesting public comment on a petition submitted by the Options Clearing Corporation (OCC) to amend a November 5, 2004 Order issued by the Commission under Section 4d of the Commodity Exchange Act.
The Order permits OCC to operate an internal non-proprietary cross-margining program for market professional customers who trade futures products and securities products that are cleared by OCC in its capacity as a derivatives clearing organization and a securities clearing agency, respectively.
The program to which the 2004 Order relates requires that the cross-margined futures and securities positions be cleared by the same clearing member. OCC now seeks to expand its program to permit an internal non-proprietary cross-margining account to be maintained at OCC jointly by a pair of affiliated clearing members, each of which is dually registered as a futures commission merchant and a securities broker-dealer.
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Source: CFTC.gov
Market Vectors Egypt Index ETF Resumes Accepting Creation Orders
March 23, 2011--New York-based asset manager Van Eck Global announced
today that creation orders for Market Vectors Egypt Index ETF (Ticker: EGPT) will once again be accepted as of March 23, 2011.
Events in Egypt had forced the closing of Egyptian Exchange (EGX) for an extended period. As a result, Van Eck followed the firm’s normal policy of suspending creation orders when the underlying market is closed for an extended period as a result of extraordinary circumstances. Creation orders were suspended on January 31, 2011.
The EGX has since resumed operations. Market Vectors Egypt Index ETF will begin accepting new creation orders in accordance with the policies and procedures detailed in the Fund’s prospectus and Statement of Additional Information that include the right to suspend creation orders again if necessary. In an effort to facilitate an orderly resumption of trading, the Egyptian Exchange will follow procedures and measures, including circuit breakers on individual stock price changes, which may limit the Fund’s ability to track the Market Vectors Egypt Index.
Redemption orders for Market Vectors Egypt Index ETF have been and will continue to be accepted as described in the prospectus.
EGPT is one of three Market Vectors ETFs with exposure to Egypt. Market Vectors Africa Index
ETF (Ticker: AFK) is an equity ETF with approximately 20% exposure to Egypt. AFK seeks to replicate as
closely as possible, before fees and expenses, the price and yield performance of the Dow Jones Africa
Titans 50 IndexSM. Market Vectors Emerging Markets Local Currency Bond ETF (Ticker: EMLC) is a
fixed-income ETF with approximately 3% exposure to local currency Egypt government bonds. EMLC
seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of
the J.P. Morgan GBI-EMG Core Index. Both ETFs have continued to accept creation orders throughout
the events in Egypt.
Source: Van Eck
ProShares Launches First Inverse High Yield Bond ETF
March 22, 2011--ProShares, a premier provider of alternative exchange traded funds (ETFs), today announced the launch of the first ETF that provides inverse exposure to the high yield bond market.
The ProShares Short High Yield (NYSE: SJB) seeks to provide -1x the daily performance of the Markit iBoxx $ Liquid High Yield Index, before fees and expenses. The ETF lists on NYSE Arca today.
"High yield bonds have had a strong rebound since the financial crisis, with indexes reaching all-time highs1 and high yield funds attracting significant inflows over the past two years," said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares' investment advisor. "For investors who believe that high yield bonds are ripe for a pullback, SJB can be used to help hedge against or to seek to benefit from potential declines."
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Source: ProShares
Markit Launches Markit iTraxx SovX Latin America Index
March 22, 2011- Markit, a leading, global financial information services company, today announced the launch of the Markit iTraxx SovX Latin America index to complement its Markit iTraxx SovX family of sovereign credit default swap (CDS) indices.
The Markit iTraxx SovX indices offer investors a transparent and standardized tool to monitor the sovereign CDS market and gain access to the asset class on a regional and global basis.
The Markit iTraxx SovX Latin America index is equally weighted and composed of the most liquid sovereign entities from the Latin American region based on data from the DTCC Trade Information Warehouse. The index is currently calculated on a theoretical basis only and will become tradable if investor demand warrants it.
The current constituents of the index are:
Argentine Republic
Bolivarian Republic of Venezuela
Federative Republic of Brazil
Republic of Chile
Republic of Colombia
Republic of Panama
Republic of Peru
United Mexican States
Markit’s indices are objective and rules-based. The company publishes index constituent lists and weights as well as closing values on www.markit.com
Source: Markit
