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Commodity Futures Trading Commission’s Technology Advisory Committee to Meet January 27, 2011
direct market access controls and costs and technology challenges in implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act
January 20, 2011-- The Commodity Futures Trading Commission’s (CFTC) Technology Advisory Committee (TAC) will hold its third meeting on January 27, 2011,at 1:00 p.m. in the CFTC’s Washington, DC headquarters’ Hearing Room.
The TAC will discuss pre-trade functionality, direct market access controls and costs and technology challenges in implementing the trade execution, processing and records management requirements of the Dodd-Frank Act. Dr. Michael Gorham, Illinois Institute of Technology (IIT) Industry Professor of Finance and Director of the ITT Center for Financial Markets, will present the Pre-Trade Functionality Subcommittee Report on Direct Market Access Controls.
“As the Commission continues its brisk pace in implementing new regulations under the Dodd-Frank Act, technology remains more important than ever,” TAC Chairman and CFTC Commissioner Scott O’Malia said. “In the over 40 proposed rules released to date, technology is the common thread that runs throughout the challenges imposed by each rulemaking. It is the tool that will enable the CFTC to fulfill its heightened oversight and surveillance responsibilities as mandated by the Dodd-Frank Act in as cost-effective and efficient a manner as possible.
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Source: CFTC.gov
Opening Statement, Public Meeting on Proposed Rules Under Dodd-Frank Act
January 20, 2011--Commissioner Michael V. Dunn
January 20, 2011--Thank you all for joining us today for this important meeting regarding the implementation of the Dodd-Frank Act. Today’s meeting will address proposed rules regarding:
Commodity Options and Agricultural Swaps; and
Swap Trading Relationship Documentation Relating to Termination Provisions Implicated Under Title II of the Dodd-Frank Act
he proposed rule regarding agricultural swaps is of particular interest to me. In September, the Commission published an Advanced Notice of Proposed Rulemaking requesting comments regarding rules governing the trading of swaps in agricultural commodities. The comments received by the Commission were nearly unanimous in their support for treating agricultural swaps under the same regulatory scheme as other categories of swaps, and the rules proposed today do just that. Among others, I found the comments from the National Council of Farmer Cooperatives particularly helpful. The rules we promulgate must not diminish the ability of farmer cooperatives to provide their producers with risk management tools. I look forward to receiving comments on today’s proposed rule, so that we can be certain that the ultimate rule regarding swaps in agricultural commodities provides an appropriate framework for these important transactions.
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Source: CFTC.gov
Brazil ups rates and signals more tightening
January 19, 2011--Brazil’s central bank raised interest rates by 50 basis points and signalled further tightening in the weeks to come as Latin America’s biggest economy seeks to rein in a worrying surge in inflation.
In a hawkish statement, the central bank increased the benchmark Selic rate to 11.25 per cent in a move that could lead to further pressure on Brazil’s currency, the real, to appreciate against the dollar.
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Source: FT.com
CFTC Staff to Host Public Roundtable to Discuss Swap Data Recordkeeping and Reporting Requirements
January 19, 2011--Staff of the Commodity Futures Trading Commission (CFTC) will hold a public roundtable on January 28, 2011, from 9:00 am to 5:00 pm to discuss issues related to swap data recordkeeping and reporting requirements. The roundtable will assist the CFTC in the understanding and implementation of Section 728 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Unique Counterparty Identification (UCI);
Unique Product Identification (UPI);
Unique Swap Identification (USI); and Master Agreement Library and Portfolio Data Warehouse.
The roundtable will be held in the Lobby Level Hearing Room at the CFTC’s Headquarters, Three Lafayette Centre, 1155 21st Street, NW, Washington DC. The discussion will be open to the public with seating on a first-come, first-served basis. Members of the public may also listen by telephone and should be prepared to provide their first name, last name and affiliation.
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Source: CFTC.gov
Van Eck files with the SEC
January 18, 2011--Van Eck has filed a post effective amendment, registration statement with the SEC for the Market Vectors Russia Small-Cap ETF.
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Source: SEC.gov
Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices
January 19, 2011--Standard & Poor's Canadian Index Operations announces the following index changes:
The shareholders of Potash One Inc. (TSX:KCL) have accepted the cash offer of $CDN4.50 per share from K+S Canada Holdings Inc.
Potash One will be removed from the S&P/TSX SmallCap and Equity SmallCap indices after the close of trading on Wednesday, January 26, 2011.
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
First Trust files with the SEC
January 19, 2011--First Trust has filed a post effective amendment, registration statement with the SEC for
ALPHADEX(R) FUNDS
First Trust Mid Cap Growth AlphaDEX(R) Fund
First Trust Mid Cap Value AlphaDEX(R) Fund
First Trust Small Cap Growth AlphaDEX(R) Fund
First Trust Small Cap Value AlphaDEX(R) Fund
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Source: SEC.gov
First Trust files with the SEC
January 19, 2010--First Trust has filed a registration statement with the SEC for:
First Trust Asia Pacific Ex-Japan AlphaDEX Fund, First Trust Europe AlphaDEX Fund, First Trust Latin America
AlphaDEX Fund,
First Trust Brazil AlphaDEX Fund, First Trust China AlphaDEX Fund, First Trust Japan AlphaDEX Fund, First Trust South Korea AlphaDEX Fund, First Trust Developed Markets Ex-US AlphaDEX Fund and First Trust Emerging Markets AlphaDEX Fund
view filing
Source: SEC.gov
Market Vectors® to Split Shares of Indonesia Index ETF Three for One
January 19, 2011--Van Eck Global announced today that the Board of Trustees of the Market Vectors ETF Trust has approved a three-for-one split of the shares of Market Vectors Indonesia Index ETF (ticker: IDX). IDX’s closing price on Friday, January 14, was $82.04.
This split will take place for shareholders of record as of the close of business on January 28, 2011, and will be payable on January 31, 2011. Fund shares will begin trading on a split-adjusted basis on February 1, 2011.
Shareholders will see the change in their holdings sometime after that date, depending upon their brokerage firms’ procedures.
The split will lower the share price of the Fund by increasing the number of shares outstanding, but will not change the total value of shares outstanding. The expected primary benefit of this action is that lower share prices will make the Fund more accessible to investors. Van Eck Global anticipates that the split may also create greater liquidity for the Fund and, by extension, facilitate tighter bid-ask spreads.
Source: Van Eck Global
BMO Financial Group Announces Monthly Cash Distributions for BMO Exchange Traded Funds
January 19, 2011--BMO Financial Group announced today the January 2011 cash distributions for the twenty BMO Exchange Traded Funds (ETFs)(i) which pay monthly distributions. Unitholders of record at close of business on January 28, 2011
will receive cash distributions payable on February 7, 2011.
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Source: BMO Financial Group
