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NYSE Liffe U.S. Incentive Programs for Global FCMs and International Traders
November 10, 2010--NYSE Liffe U.S. is pleased to announce the launch of two new incentive programs in precious metals futures:
The Global FCM Incentive Program (GFIP)
The International Trader Incentive Program (ITIP)
The GFIP provides Exchange fee rebates to FCMs facilitating access on behalf of new clients to the NYSE Liffe U.S. precious metals futures product suite.
GFIP key features:
FCMs can receive a rebate of $0.25/side traded by a client new to NYSE Liffe U.S. precious metals futures
Rebates apply to both the mini- and full-sized precious metals futures contracts
read more
Source: NYSE Liffe U.S.
Statement on Support of the Dodd-Frank Rulemaking of Chairman Gary Gensler
November 10, 2010--Statements for the record on each rule:
Whistleblowers
I support the proposed rulemaking to establish a program for whistleblowers as mandated by the Dodd-Frank Act. Congress enacted these provisions to incentivize whistleblowers to come forward with new information about potential fraud in the financial markets.
The proposed rulemaking authorizes the Commission to provide a monetary award to whistleblowers when their original information results in a successful enforcement action. The rule also provides that moneys recovered will fund new customer educations initiatives to protect the public. The proposed rules encourage persons with knowledge to come forward and assist the Commission in identifying, investigating and prosecuting potential violations of the Commodity Exchange Act.
Registration Process for Swap Dealers and Major Swap Participants Rulemaking
I support the proposed rulemaking to establish a process for the registration of swap dealers and major swap participants. This proposal would implement Congress’s mandate that these entities be subject to registration and regulation for their swaps business. Registration will enable the Commission to monitor swap dealers and major swap participants for compliance with the Dodd-Frank Act and Commission rulemakings. Through regulation of the dealers, the Commission will be able to protect market participants and the public and promote sound risk management practices. The proposal includes a requirement that swaps dealers and major swap participants register with a registered futures association, such as the National Futures Association. This would provide the Commission with flexibility with regard to its oversight of swap dealers and major swap participants for compliance with the Dodd-Frank Act.
read more
Source: CFTC.gov
Opening Statement, Meeting of the Commodity Futures Trading Commission
November 10, 2010--November 10, 2010
Good afternoon. This meeting will come to order. This is a public meeting of the Commodity Futures Trading Commission to consider issuance of the following proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act:
Registration of Foreign Boards of Trade;
Registration of swap dealers and major swap participants;
Implementation of new whistleblower provisions of the Commodity Exchange Act;
Risk management policies of swap dealers and major swap participants;
• Two rules concerning firewalls and conflict-of-interest policies and procedures by swap dealers, futures commission merchants and other intermediaries; and
Designation of a chief compliance officer and related compliance policies of swap dealers, major swap participants and futures commission merchants.
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Source: CFTC.gov
INDEXIQ Announces October 2010 Performance Of Its IQ Hedge Family Of Benchmark Hedge Fund Replication & Alternative BETA Indexes
November 9, 2010-IndexIQ, a leading developer of index-based alternative
investment solutions, today announced the performance of its proprietary family of hedge fund replication and
alternative beta indexes.
Designed as investable benchmarks that replicate the performance characteristics of sophisticated hedge
fund strategies, the IQ Hedge™ benchmark indexes were originally introduced on March 30, 2007, and have
been calculating live since that date. IQ Hedge is the first family of investable benchmark indexes covering
hedge fund replication/alternative beta strategies.
read more
Source: Index IQ
CFTC.gov Financial Data for Futures Commission Merchants Update
November 9, 2010--The CFTC.gov Financial Data for Futures Commission Merchants -Selected FCM financial data as of September 30, 2010 (from reports filed by October 31, 2010) has been updated and is now available.
view updates
Source: CFTC.gov
Schwab Clients Embrace ETFs -Total ETF Assets at Schwab Exceed $100 Billion
November 9, 2010--Charles Schwab announced today that exchange-traded fund (ETF) assets held by its individual investor and independent advisor clients have exceeded $100 billion1. This significant milestone was achieved in part because of the early success of Schwab’s own ETF products. Assets under management in Charles Schwab Investment Management, Inc. (CSIM) Schwab ETFs™ now exceed $2 billion2, and Schwab Managed Portfolios™ Exchange-Traded Funds (SMP-ETFs), which debuted in January through Charles Schwab Investment Advisory Inc., has garnered $1.7 billion to-date3.
“ETFs have skyrocketed in popularity, and the success of our ETF program shows that Schwab is the destination for investors seeking ETFs,” said Peter Crawford, senior vice president of Charles Schwab & Co., Inc. “Whether they are long-term buy and hold investors who are looking for great value in terms of operating expenses, or more active investors whose focus is low-cost trades, we are the place for investors seeking ETFs.”
At its “ETF HQ”, Schwab provides a full range of resources to help individuals and advisors. The Schwab ETF Learning Center offers educational materials and insights from Schwab experts in the form of FAQs, articles and videos. The content ranges from the basics of ETFs and how they fit into a portfolio to sophisticated trading strategies. Schwab’s ETF resources also include an array of tools to help investors choose ETFs that may best fit their investment needs, including a robust ETF Screener to search for ETFs that offer exposure to various markets, industries and sectors; a comparison tool to view side-by-side snapshots of multiple ETFs; and research and ratings from third parties.
The first Schwab ETFs were launched just one year ago in a bold move that allowed Schwab clients to trade the ETF shares with no commissions online through a Schwab account*. With some of the lowest OERs in their categories, the now 11 Schwab ETFs have experienced widespread adoption among Schwab individual investor clients and advisors who custody with Schwab. Schwab ETFs follow broad indexes of domestic stocks, international stocks, and bonds, which can make them excellent building blocks for a well-diversified portfolio. In addition, Schwab ETFs are marginable immediately at Schwab and have no required minimum holding period.
"Schwab ETFs have had significant traction this first year," said Crawford, "Our clients find these low-cost indexed vehicles enormously appealing in general, and as some of the lowest-cost products in each of their categories, the Schwab ETFs are especially attractive. Our straightforward approach to pricing and focus on core categories have really helped Schwab ETFs take off, as evidenced by them crossing the $2B threshold one year to the day since they debuted.”
Schwab’s comprehensive offering to investors also includes the new SMP-ETF product launched in January. This product offers diversification across multiple asset and sub-asset classes, sophisticated management and monitoring and low operating costs.
“Our clients can expect to continue to see more leadership and innovation from us in this area. We’ll continue to build on this success and remain the place for individual investors who want to take advantage of the benefits of ETF investing,” emphasized Crawford.
1 As of October 5, 2010
2 As of November 2, 2010
3 As of October 29, 2010
Source: Charles Schwab
Launching Wednesday, November 10 Global X FTSE Norway 30 ETF Ticker: NORW
November 9, 2010-On November 10, 2010 Global X will launch the Global X FTSE Norway 30 ETF.
view the fact sheet
Source: Global X
Pimco files with the SEC
November 9, 2010--Pimco has filed a post effective amendment, registration statement with the SEC for
PIMCO Global Advantage Inflation-Linked Bond Strategy Fund
view filing
Source: SEC.gov
NY Fed outlines plan for ‘QE2’ buying
November 9, 2010--
The Federal Reserve Bank of New York will on Wednesday tell Treasury traders and investors how it will implement the vast bond purchases dictated under the central bank’s new round of quantitative easing, or “QE2” .
Aside from the $600bn of Treasuries slated for purchase under “QE2” until the end of next June, the Fed will also buy an estimated $300bn of additional Treasuries..
read more
Source: FT.com
Knight’s Algorithmic Execution Strategies Win Buy-Side Technology Awards
November 8, 2010---- Knight Capital Group, Inc. today announced that its smart order execution algorithm, FAN, has been named "Best Broker-Supplied Tool/Technology," and its Oasis smart order execution algorithm for sourcing small- and mid-cap liquidity has been named "Best Buy-Side New Product" by Waters Technology in the magazine's 2010 Buy-Side Technology Awards.
"We see an increasing number of institutions adopting sophisticated liquidity-sourcing technology, including next-generation algorithms like FAN and Oasis," said Joseph Wald, Managing Director at Knight. "Both are examples of execution strategies that allow buy-side firms of all sizes to participate in the markets on a level playing field using the most sophisticated technology available."
Knight's algorithmic suite is accessed through Knight Direct, Knight's multi-asset class execution management system, as well as through a number of third-party execution and order management systems via Knight Direct's FIX capabilities. The algorithms are powered by FAN, a smart order execution algorithm which sources liquidity from multiple destinations simultaneously, while adapting to market conditions in real time and re-circulating orders to where executions are occurring. Oasis uses innovative logic to source liquidity in thin and difficult-to-trade names with increased efficiency and opportunities for price improvement as well as greater fulfillment.
"Single-stock algorithms are still evolving through ever-new and better ways to access the markets, with tangible and valuable differences between the offerings. We thank our clients for recognizing what sets Knight apart and helping us to gain recognition through respected independent parties like Waters Technology, as well as for continuing to trust Knight for high-quality trade executions."
To learn more about Knight's algorithmic offering, please contact Joe Wald 212.479.2335 or jwald@knight.com.
Source: Knight Capital Group
