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FactorShares files with the SEC
November 3, 2010--FactorShares has filed a pre-effective amendment No. 3 to Form S-1 for
FactorShares 2X: S&P500 Bull/TBond Bear.
view filing
Source: SEC.gov
Northern Trust files with the SEC
November 3, 2010--Northern Trust Investments has filed an amended and restarted application for exemptive relief with the SEC for the NT ETF Trust.
view filing
Source: SEC.gov
Remarks before FIA Futures and Options Expo, Chicago, IL-Chairman Gary Gensler
November 3, 2010-Good morning. I thank the Futures Industry Association for inviting me to speak today, and I thank John Damgard for that very kind introduction. Since I last spoke before the FIA, Congress passed historic reform to bring comprehensive oversight to the swaps marketplace.
Before I discuss the details of reform, I'd like to thank my fellow Commissioners and CFTC staff for all of their hard work on the Dodd-Frank Wall Street Reform and Consumer Protection Act and on its implementation. I’d also like to recognize my fellow Commissioners in the audience: Mike Dunn, Jill Sommers and Bart Chilton.
In bringing oversight to the swaps market, Congress built upon strengths from the futures marketplace. Futures and swaps are both derivatives. It is only natural that Congress would treat them similarly and apply similar protections to both markets.
read more
Source: CFTC.gov
CFTC to Hold Open Meeting on Fourth Series of Proposed Rules under the Dodd-Frank Act
November 3, 2010--The Commodity Futures Trading Commission (CFTC) will hold a public meeting to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
When:Wednesday, November 10, 2010, 1:00 PM (ET)
Where: CFTC’s Hearing Room, 1155 21st, NW, Washington DC
Topic: Fourth Series of Proposed Rulemakings under the Dodd-Frank Act
This event is open to the public.
Source: CFTC.
U.S. International Reserve Position
November 2, 2010--The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $136,117 million as of the end of that week, compared to $135,793 million as of the end of the prior week.
I. Official reserve assets and other foreign currency assets (approximate market value, in US millions)
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October 29, 2010 |
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A. Official reserve assets (in US millions unless otherwise specified) 1 |
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136,117 |
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(1) Foreign currency reserves (in convertible foreign currencies) |
Euro |
Yen |
Total |
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(a) Securities |
9,810 |
16,151 |
25,962 |
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of which: issuer headquartered in reporting country but located abroad |
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0 |
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(b) total currency and deposits with: |
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(i) other national central banks, BIS and IMF |
14,589 |
7,934 |
22,523 |
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ii) banks headquartered in the reporting country |
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0 |
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of which: located abroad |
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0 |
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(iii) banks headquartered outside the reporting country |
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0 |
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of which: located in the reporting country |
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0 |
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(2) IMF reserve position 2 |
13,068 |
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(3) SDRs 2 |
58,391 |
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(4) gold (including gold deposits and, if appropriate, gold swapped) 3 |
11,041 |
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--volume in millions of fine troy ounces |
261.499 |
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(5) other reserve assets (specify) |
5,132 |
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--financial derivatives |
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--loans to nonbank nonresidents |
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--other (foreign currency assets invested through reverse repurchase agreements) |
5,132 |
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B. Other foreign currency assets (specify) |
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--securities not included in official reserve assets |
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--deposits not included in official reserve assets |
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--loans not included in official reserve assets |
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--financial derivatives not included in official reserve assets |
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--gold not included in official reserve assets |
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--other |
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read more
Source: U.S. Department of the Treasury
National Stock Exchange Launches New Network Solution - "Exchange in a Box"
November 2, 2010--The National Stock Exchange, Inc.(NSX®) has partnered with Sidera Networks (formerly RCN Metro), a premier provider of fiber optic-based network solutions, to create a new network solution called Exchange in a Box.
Exchange in a Box provides connectivity to NSX via any of the major financial data centers in the New York Metro area at a reduced cost, enabling NSX customers to take advantage of micro-second connections.
read more
Source: National Stock Exchange, Inc.(NSX)
ISE is First Options Exchange to List Additional Near Term Expiration Months for Most Actively Traded Options Classes
November 2, 2010--The International Securities Exchange (ISE) announced today that it has expanded the number of expiration months available for 20 of the most actively traded options classes on its exchange. ISE pioneered the pilot program, which allows all US options exchanges to list up to two additional, consecutive expiration months. Each options exchange can select up to 20 options classes for the pilot.
“In response to member demand, ISE has started an industry-wide pilot program to list additional near term expiration months for the most actively traded, liquid options classes,” said Boris Ilyevsky, Managing Director of ISE’s options exchange. “We are very excited to provide investors with expanded trading opportunities in the most popular options products.”
The pilot program, which began on November 1, enables ISE to list a total of six expiration months for its most actively traded options classes. ISE is now able to list four consecutive expiration months as well as two additional months for the options classes in the pilot. A list of the products selected for the program is available on ISE’s website.
For more information on the new pilot program, contact ISE Business Development at bizdev@ise.com.
Source: International Securities Exchange (ISE)
CME Group Volume Averaged 11.4 Million Contracts Per Day In October 2010, Up 6 Percent
November 2, 2010--CME Group, the world's leading and most diverse derivatives marketplace, today announced that October volume averaged 11.4 million contracts per day, up 6 percent from October 2009. Total volume for October was 240 million contracts, of which 83 percent was traded electronically.
In October 2010, CME Group interest rate volume averaged 4.7 million contracts per day, up 6 percent compared with the prior October. Treasury futures volume averaged 2.1 million contracts per day, up 17 percent compared with the same period in 2009, and Treasury options volume averaged 367,000 contracts per day, up 61 percent.
read more
Source: CME Group
S&P says new rules will hit big bank profits
November 2, 2010-The new regime of financial regulation will hit annual profits at the US’s eight biggest banks by between $19.5bn and $22bn, according to one of the first assessments of the new law.
Standard & Poor’s analysts say there will be a noticeable loss of income as a result of restrictions on proprietary trading, credit card fees and derivatives activity at Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, PNC Financial, US Bancorp and Wells Fargo.
read more
Source: FT.com
Vanguard launches Global ex-U.S. Real Estate ETF
November 2, 2010--Today Vanguard introduced a new international real estate ETF, further rounding out our ETF lineup across multiple asset classes. Vanguard Global ex-U.S. Real Estate ETF (VNQI) is benchmarked to the S&P Global ex-U.S. Property Index. The new ETF is a share class of Vanguard Global ex-U.S. Real Estate Index Fund, which also offers traditional share classes. The fund invests in real estate investment trusts (REITs) and real estate operating companies (REOCs) in developed and emerging markets excluding the United States.
The Global ex-U.S. Real Estate ETF can serve as a complement to Vanguard REIT ETF (VNQ), which holds only domestic real estate securities.
"Modest exposure to real estate investments in a broadly diversified investment portfolio can help moderate overall portfolio volatility and serve as a hedge against inflation," Vanguard Chief Investment Officer Gus Sauter said. "With international real estate securities representing a growing portion of the overall real estate market, a counterpart to our domestic REIT ETF is a natural addition to our ETF lineup."
Low costs
Vanguard Global ex-U.S. Real Estate ETF, with an estimated expense ratio of 0.35%, continues the Vanguard tradition of offering mutual funds and ETFs with expense ratios that are among the lowest in the industry. In fact, competing international real estate ETFs charge an average expense ratio of 0.55%, (source: Morningstar, Inc., as of December 31, 2009).
read more
Source: Vanguard
