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Esposito Securities Expands its ETF Seeding with Capital Commitment
November 16, 2010--Esposito Securities has successfully expanded its foray into seeding ETFs, having recently seeded several ETFs. Esposito's recent seeding activity includes three Advisor Shares products - the Cambria Investment Management, Inc. (NYSE: GTAA), WCM Investment Management (NYSE: AADR), and Mars Hill Partners, LLC (NYSE: GRV).
A commitment to addressing the underserved needs of clients drove Esposito's activity in this sector. The Firm regularly evaluates market opportunities and seeding ETFs proved timely. Recently a White Paper was authored by Esposito regarding the seeding process. "Sprouting an ETF" can be viewed on the Company website at http://www.espositoglobal.com/downloads/EspositoWhitePaper-SeedCapital.pdf
"Esposito Securities has been evaluating the process of seeding ETFs and we are pleased to amplify our activity in this arena. We have assembled a valuation team to assess opportunities to seed a wide variety of ETF products and asset classes and urge issuers to contact Esposito for partnership discussions, as we are committed to expanding our participation". -Mark Esposito
visit www.espositoglobal.com for more information.
Source: Esposito Securities
Treasury International Capital Data for September 2010
November 16, 2010--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for September 2010. The next release, which will report on data for October 2010, is scheduled for December 15, 2010.
Net foreign purchases of long-term securities were $81.0 billion.
Net foreign purchases of long-term U.S. securities were $91.4 billion. Of this, net purchases by private foreign investors were $83.8 billion, and net purchases by foreign official institutions were $7.6 billion. U.S. residents purchased a net $10.4 billion of long-term foreign securities. Net foreign acquisition of long-term securities, taking into account adjustments, is estimated to have been $58.3 billion.
Foreign holdings of dollar-denominated short-term U.S. securities, including Treasury bills, and other custody liabilities decreased $24.9 billion. Foreign holdings of Treasury bills decreased $24.6 billion.
Banks' own net dollar-denominated liabilities to foreign residents increased $48.3 billion.
Monthly net TIC flows were $81.7 billion. Of this, net foreign private flows were $70.4 billion, and net foreign official flows were $11.3 billion.
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Source: U.S. Department of the Treasury
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
November 16, 2010--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Wednesday, November 17, 2010:
Excelsior Energy Limited (TSXV:ELE) will be removed from the index.
The shares of the company have been acquired by Athabasca Oil Sands Corp.
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
Emerging Markets Week in Review-11/8/2010 - 11/12/2010
November 15, 2010--The Dow Jones Emerging Markets Sector Titans Composite Index fell 3.16% last week on concerns that an uptick in China's CPI will prompt the country's central bank to raise interest rates.
Materials and Consumer stocks were the least negative of the sectors, declining 1.04% and 1.88% respectively. Financials and Energy, the two largest groups in the Composite index, led the market down by falling 4.50% and 3.38% respectively.
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Source: Emerging Global Advisors
U.S. Department of the Treasury Economic Statistics - Monthly Data Update
November 15, 2010--U.S. Department of the Treasury Economic Statistics - Monthly Data has been updated and is now available.
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Source: U.S. Department of the Treasury
CFTC.gov Commitments of Traders Reports Update
November 15, 2010--The CFTC.gov Commitments of Traders Reports have benn updated for the week of November 9, 2010 are now available.
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Source: CFTC.gov
Standard & Poor's Announces Changes in the S&P/TSX Venture Composite Index
November 15, 2010--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Monday, November 15, 2010:
Silvermex Resources Ltd. (TSXV:SMR) will be removed from the index.
The shares of the company have been acquired by Genco Resources Ltd.
Company additions to and deletions from an S&P equity index do not in anyway reflect an opinion on the investment merits of the company.
Source: Standard & Poors
BlackRock Developing Local ETFs in Chile, Colombia to Attract Investors
November 15, 2010--BlackRock Inc., the world’s largest money manager, plans to offer local exchange-traded funds in Colombia and Chile to expand its business to institutional and retail investors in the South American nations.
Work on the creation of locally-listed, peso-denominated ETFs in Chile will probably begin “in the short term,” said Axel Christensen, BlackRock’s managing director for South America excluding Brazil. iShares, the ETF fund business of New York-based BlackRock, is also in talks with the Colombian stock exchange to list local equity ETFs, he said.
“The opportunity to launch these ETFs in Chile will unfold in the first half of next year as the final details of the ETF regulation are being worked on at the local regulator,” Christensen said in an interview from his office in Santiago today. “In Colombia, we are already in negotiations with the local stock exchange.”
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Source: Bloomberg
Latin America: Leaders Support National Policies on Innovation as Key to Sustained Prosperity
November 15, 2010--Government and multilateral leaders from the Americas called today for the region to make innovation a matter of national policy in order to protect this key but fledging development tool from political cycles.
Sustained investments in innovation could double Latin America's current projected GDP growth of 5.7 percent as the region resumes its strong pre-crisis growth pattern –the strongest in decades- said World Bank vice president Pamela Cox at the Fourth Americas Competitiveness forum in Atlanta, Georgia.
Latin America's economic recovery is all the more remarkable because the region has emerged from the crisis without systemic damage or dent on its fiscal architecture, thanks to its solid macroeconomic and fiscal frameworks, said Cox.
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Source: World Bank
SEC and UK FSA Hold Meeting of SEC-FSA Strategic Dialogue
November 15, 2010--Securities and Exchange Commission Chairman Mary L. Schapiro today met separately in London with Chairman Adair Turner of the UK Financial Services Authority (FSA) and the Chief Executive of the UK Financial Reporting Council (FRC) Stephen Haddrill to discuss a number of issues of common concern.
During the SEC-FSA meeting, the agencies shared views regarding the oversight of over-the-counter derivatives trading, high-frequency trading, and the May 6 "flash crash" as well as recent regulatory initiatives regarding credit rating agencies and cross-border enforcement information-sharing between the FSA and SEC.
Chairman Schapiro and Lord Turner also restated their agencies' commitment to working together to improve regulation and oversight of their securities markets, particularly with regard to globally active regulated firms with a presence in both countries.
Chairman Schapiro said, "Both the SEC and FSA are in the process of drafting vital new rules for our own markets. Meetings like this with our UK counterparts at the highest levels give the Commission a better understanding of how similar market concerns are viewed in London. Given the international nature of the recent financial crisis, this exchange of views can only improve the regulatory solutions we develop to these challenging problems."
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Source: SEC.gov
