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SPDR files with the SEC
February 23, 2011--SPDR has filed a post-effective amendment, registration statement with the SEC for the Barclays Capital Emerging Markets Local Bond ETF.
view filing
Source: SEC.gov
CBOE to Relaunch Credit Event Binary Options (CEBOs) on March 8
February 23, 2011--The Chicago Board Options Exchange (CBOE) announced today that on Tuesday, March 8, the Exchange will begin trading newly-designed Credit Event Binary Options (CEBOs) contracts.
Credit Event Binary Options contracts allow investors to express an opinion on whether a company will experience a "credit event" (bankruptcy). Due to inverse correlations between credit and equity markets, CEBO® contracts can be used as a hedging tool for individual stocks. The contracts also provide the advantages of price transparency available through a regulated exchange, currently unavailable in over-the-counter credit default swaps markets.
A CEBO contract has just two possible outcomes - a payout of a fixed amount if a credit event occurs or nothing if a credit event does not occur.
read more
Source: CBOE
Dow Jones Indexes Announces Latest Performance Data For The U.S. Venture Capital Index
February 23, 2011--Dow Jones Indexes, a leading global index provider and a CME Group company, today announced the latest performance data for the Dow Jones U.S. Venture Capital Index. The index is designed to measure changes in the market value of venture capital-financed companies in the United States.
At the end of the second quarter 2010, the index value was 1,183.211, down 18.29% from December 31, 2009. According to Sand Hill Econometrics, which co-developed the index’s methodology, there were two factors behind the decline. One is several “disappointing exits”?—?companies that failed or were acquired for low values. The other is the general decline in equity values during the quarter?—?the Dow Jones U.S. Total Stock Market Index fell 11.52% during the second quarter of 2010. As Sand Hill notes, VC is not immune to a drop in equity values and the stock market is an indicator of equity values overall.
read more
Source: Dow Jones Indexes
PowerShares has filed with the SEC
February 22, 2011--PowerShares has filed a post effective amendment, registration statement with the SEC for PowerShares Senior Loan Portfolio.
read more
Source: SEC.gov
Standard & Poor's Announces Changes in the S&P/TSX Venture Composite Index
February 22, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Tuesday, February 22, 2011:
Centric Energy Corp. (TSXV:CTE) will be removed from the index.
The shares of the company have been acquired by Africa Oil Corp. (TSXVN:AOI).
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 & Poors
NYSE Euronext To Postpone Investor Day
February 22, 2011--NYSE Euronext (NYX) today announced that it will postpone its Investor Day, which was previously scheduled for March 8, 2011.
It is anticipated that Investor Day will be rescheduled for Fall 2011 with details to follow when a new date has been established.
Source: NYSE Euronext
CBOE to Relaunch Credit Event Binary Options (CEBOs) Contracts on March 8 The contracts also provide the advantages of price transparency available through a regulated exchange, currently unavailable in over-the-counter credit default swaps markets. A CEBO contract has just two possible outcomes - a payout of a fixed amount if a credit event occurs or nothing if a credit event does not occur. The CBOE, which first began trading single-name and basket Credit Event Binary Options in 2007, recently received SEC approval to amend the Credit Event Binary Options rules. One change simplifies the terms of a payout for CEBO contracts, allowing CBOE to list CEBO contracts that specify bankruptcy as the only trigger for a payout. read more Invesco PowerShares Set to List Industry’s First Senior Loan ETF Senior loans - also called leveraged loans, syndicated loans, bank loans or floating rate loans - are privately arranged corporate debt instruments that provide capital to a company and are syndicated to a group of banks and institutional lenders. The loans are typically secured by specific assets of the borrower such as property, plant, or equipment and are senior to all other outstanding debt obligations. Proceeds are often used to finance leveraged buyouts, mergers, acquisitions, stock repurchases and other transactions.
The PowerShares Senior Loan Portfolio (BKLN) is based on the S&P/LSTA U.S. Leveraged Loan 100 Index. The Underlying Index is designed to track the market-weighted performance of the largest institutional leveraged loans based on market weightings, spreads and interest payments. The Fund will normally invest at least 80% of its total assets in the securities that comprise the Underlying Index. read more RBS Floats Gold Trendpilot ETN Morgan Stanley US ETF Weekly Update 13-week flows were mostly positive among asset classes EM Equity ETFsposted meaningful net outflows ($7.4 bln) over the past 13 weeks; however, last week they were able to manage net inflows of $237 US-Listed ETFs: Estimated Largest Flows by Individual ETF After eight straight weeks of net outflows, the iSharesRussell 2000 Fund (IWM) bounced back IWM posted net inflows of $797 mln, the most of any ETF; YTD IWM has posted a 6.5% market return SPDR S&P 500 ETF (SPY) exhibited the largest net outflows last week; YTD SPY has also posted net outflows US-Listed ETFs: ETF Dollar Volume US Large-Cap accounts for 40% of weekly ETF volume, but only has 22% of market cap International Equity counts for only 16% of weekly ETF volume, but has 24% of market cap request report
February 22, 2011--The Chicago Board Options Exchange (CBOE) announced today that on Tuesday, March 8, the Exchange will begin trading newly-designed Credit Event Binary Options (CEBOs) contracts.
Due to inverse correlations between credit and equity markets, CEBO® contracts can be used as a hedging tool for individual stocks.
Source: CBOE
February 22, 2011--– Invesco PowerShares Capital Management LLC, a leading provider of exchange-traded funds (ETFs) with more than $57 billion in franchise assets, announced today the PowerShares Senior Loan Portfolio is anticipated to begin trading March 3, 2011, on the NYSE Arca under the ticker symbol BKLN. The PowerShares Senior Loan Portfolio is the first ETF that provides investors access to a portfolio of senior secured bank or floating rate loans. The fund is expected to issue monthly dividends.
“Senior loans can provide an attractive income stream for yield-minded advisors and investors interested in shortening portfolio duration,” said Ben Fulton, Invesco PowerShares managing director of global ETFs. “As a result of shorter maturities and a floating interest rate feature that typically resets quarterly, senior secured loans have the ability to keep pace with rate changes and have historically proven to be more stable than traditional high yield fixed-income investments. We believe the PowerShares Senior Loan Portfolio (BKLN) provides a compelling new means to access this asset class through the benefit-rich ETF structure.”
Source: Invesco PowerShares
February 22, 2011--RBS Securities, a subsidiary of Royal Bank of Scotland, has unveiled a new gold-based ETN, Index Universe reports. The RBS Gold Trendpilot ETN will be listed on the New York Stock Exchange’s Arca platform and track the performance of the RBS Gold Trendpilot Index
The vehicle defines the price of gold bullion as the spot price of physical gold, as measured by the afternoon gold-fixing price for delivery in London through a member of the London Bullion Market Association. The index strategy seeks to lessen the volatility of the price of gold bullion by tracking the T-Bill Rate if the price of gold bullion is on a downward trend.
Source: emii.com
February 22, 2011--Weekly Flows: $2.7 Billion Net Inflows
ETFsTraded $251 Billion Last Week
Launches: 2 New ETFs-Fidelity Expands Commission-Free ETF Program
PowerShares& Sector SPDRsReach Settlement
ProSharesAnnounces Share Splits
US-Listed ETFs: Estimated Flows by Market Segment
ETFs had net inflows of $2.7 blnlast week; second consecutive week of net inflows
Net inflows were led by US Small-& Micro-Cap ETFslast week ($982 mlnnet inflows)
ETF assets stand at more than $1 trillion, up 5% YTD
$34.9 billion of net inflows into ETFs over past 13 weeks (majority into US Equity ETFs)
ETF monthly $ volume has recently declined to 25% of listed trading volume (lowest % since May ’08)
Source: Morgan Stanley
