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Global X files with the SEC

October 27, 2010--Global X has filed a post effective amendment, registration statement with the SEC for
Global X Gold Explorers ETF
NYSE Arca, Inc: GLDX

view filing

Source: SEC.gov


Barclays Announces Reverse Split of iPath® S&P 500 VIX Short-Term Futures™ Exchange Traded Notes

October 27, 2010--Barclays Bank PLC announced today that it will implement a 1 for 4 reverse split of its iPath® S&P 500 VIX Short-Term FuturesTM Exchange Traded Notes (the “Notes”) effective Tuesday, November 9, 2010. The Notes trade on the NYSE Arca under the ticker symbol VXX and on the Toronto Stock Exchange (“TSX”) under ticker symbols VXX and VXX.U.

Barclays Bank PLC has the right (but not the obligation) to initiate such a reverse split if the closing indicative value of the Notes falls below $25.00 on any business day, as described in the pricing supplement relating to the Notes. On October 25, 2010, the closing indicative value of the Notes was $12.68.

The record date for the reverse split will be the close of business, New York time, on November 8, 2010. The closing indicative value of the Notes on the record date will be multiplied by four to determine the reverse-split adjusted value of the Notes. The reverse split will be effective at the open of trading on November 9, 2010 and the Notes will begin trading on the NYSE Arca and the TSX on a reverse-split adjusted basis on such date. The reverse-split adjusted Notes will have a new CUSIP, but will retain the same ticker symbols.

Investors who, as of the record date, hold a number of Notes that is not divisible by four will receive one reverse-split adjusted Note for every four Notes held on the record date and a cash payment for any odd number of Notes remaining (the “partials”). The cash amount due on any partials will be determined on November 16, 2010, based on the closing indicative value of the reverse-split adjusted Notes on such date and will be paid by Barclays Bank PLC on November 19, 2010.

For more information regarding the reverse split process, see the pricing supplement relating to the Notes under the heading “Valuation of the ETNs—Split or Reverse Split” and the Frequently Asked Questions document “iPath® ETNs Splits and Reverse Splits.” The pricing supplement can be found on EDGAR, the SEC website at: www.sec.gov. The pricing supplement and Frequently Asked Questions are also available on www.iPathETN.com.

Source: Barclays


"Financial Reform, What's Next? A US and Global Perspective Examining the Opportunities and Challenges Ahead", Georgetown University

Commissioner Jill E. Sommers
October 26, 2010--Good afternoon. It is an honor to be here today to discuss the current state of regulatory reform at the Commodity Futures Trading Commission (CFTC), where I think the CFTC will be heading in the next year or so, and what I believe are some of the more difficult challenges that the CFTC and market participants will face as the Dodd-Frank Wall Street Reform and Consumer Protection Act is implemented.

But first, a little background. Commodity futures markets have existed in the U.S. since the 1800s and have been regulated at the federal level in one form or another since the Cotton Futures Act was passed in 1916. The Grain Futures Act of 1922 followed, which was replaced by the Commodity Exchange Act (CEA or Act) in 1936. At that time, futures markets were confined to agricultural products and so oversight logically fell to the Department of Agriculture. By the 1970s, when Congress created the CFTC as an independent regulatory agency, most futures trading was still limited to the agricultural sector and swaps markets had not yet developed. Exchange trading took place in open outcry pits where floor brokers wearing colorful jackets flashed hand signals and jostled each other for position. Back then, co-location meant that a firm’s trading desk was closer to the pit than another firm’s desk, or a firm’s broker was taller than other traders and more easily seen by potential counterparties. Although a small percentage of trading is still devoted to agricultural products and limited open outcry trading still exists, today’s global markets include a vast array of futures and options on financial, energy and metals products electronically executed at lightning speed. Over the past 20 years, trading in over-the-counter (OTC) derivatives or swaps also gained traction. And now these markets dwarf exchange traded futures.

As the markets have evolved, so has regulation. While the CFTC’s mission has always been to protect and foster the crucial risk management and price discovery functions of futures markets by detecting and deterring fraud, manipulation and abusive trading practices, Congress has amended the Commission’s mandate in significant ways over the years to respond to changing market conditions and prevailing regulatory philosophies.

read more

Source: CFTC.gov


Statement on Support of the Dodd-Frank Rulemaking of Chairman Gary Gensler

October 27, 2010--Statements for the record on each rule:
Anti-Manipulation Rulemaking
I support the proposed rulemaking to enhance the Commission’s ability to protect against manipulation. Today’s rule builds upon important new authorities that Congress granted the Commission to protect market participants in the commodities, futures and swaps markets. Together with the authority granted by Congress to prohibit disruptive trading, this proposed rule gives the Commission the broad new ability to effectively combat fraud and manipulation. The proposed rulemaking promotes fair and efficient markets, for the first time allowing the Commission to protect against fraud-based manipulation. I thank Senator Cantwell for her leadership in bringing this important new authority to the Commission.

Disruptive Trading Practices Rulemaking

I support the proposed Advanced Notice of Proposed Rulemaking concerning disruptive trading practices. Congress expressly prohibited three trading practices that it deemed were disruptive of fair and equitable trading. In addition, Congress granted the Commission authority to prohibit other trading practices that are disruptive of fair and equitable trading. Today’s advanced notice of proposed rulemaking asks 18 questions, the answers to which will inform moving forward with a proposed rule on this issue. Commission staff also will lead a roundtable on December 2 on disruptive trading practices. I am particularly interested in hearing from the public on algorithmic trading. In addition to the public comments and the December 2 roundtable, we will benefit from the input of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues.

read more

Source: CFTC.gov


Troubled Asset Relief Program (SIGTARP) Reports to Congress Update

October 26, 2010--The Special Inspector General for the Troubled Asset Relief Program has issued a Quarterly Report to Congress dated October 26, 2010.

view the Troubled Asset Relief Program (SIGTARP) Quarterly Report to Congress October 26, 2010

Source: U.S. Department of the Treasury


BlackRock Forms Global iShares Investment Strategy Group

Russ Koesterich Appointed iShares Chief Investment Strategist
October 26, 2010--BlackRock, Inc. today announced that its iShares(R) Exchange Traded Funds (ETFs) business, the world's largest provider of ETFs, has created the Global iShares Investment Strategy Group and appointed Russ Koesterich as Global Chief Investment Strategist to lead the team. The creation of the investment strategy group and the position of a dedicated ETF Chief Investment Strategist is in response to strong interest from clients about ETF investment trends and insights.

"Clients are increasingly asking us our views on markets around the world in which iShares offers access and liquidity, and our expertise on how to manage portfolios in various market conditions," said Michael Latham, Global Head of iShares at BlackRock. "The creation of the Global iShares Investment Strategy Group is a natural progression of our partnership with clients and our commitment to deliver to them the best services on top of the largest ETF offering."

The Global iShares Investment Strategy Group will provide clients with insights on a variety of economic and investment topics, covering the asset classes, sectors and markets in which iShares offers access to investors. The group is a key component of the business' effort to offer an investment platform that includes not only the largest ETF product lineup in the market, but also high-quality investment expertise ranging from broad market insights to customized investment solutions. The group will work closely with the wider iShares research, product and client teams, as well as the larger BlackRock organization to leverage the large collection of investment professionals for the benefit of iShares clients.

read more

Source: BlackRock, Inc


iShares files with the SEC

October 26, 2010--iShares has filed a Form S-1 registration statement with the SEC for
iShares Copper Trust.

view filing

Source: SEC.gov


Opening Statement, Public Meeting on Proposed Rules Under Dodd-Frank Act Commissioner

Michael V. Dunn
October 26, 2010--Today we consider the next set of proposed rules that come before the Commission pursuant to the Dodd-Frank Act. As with other proposed rules, today’s set of rules offers a glimpse into the resource intensive re-engineering the CFTC will be going through to provide the regulatory framework to implement the many new responsibilities under Dodd-Frank.

As I have previously stated, I am very concerned about the CFTC’s budget situation and possible attempts to thwart implementation of Dodd-Frank by cutting off funding for this agency. Without the requisite level of funding, I see the possibility of several unfortunate outcomes coming to fruition:

First, without the necessary human capital to review new SEF, DCM and DCO applications, I can envision long waiting periods for potential registrants before their applications are approved to conduct business in the markets we regulate. This inability to quickly and efficiently process applications, through no fault of the CFTC, would undoubtedly prevent the immediate creation of a competitive market environment, at least in the OTC space, and may lead to greater systemic risk as positions become concentrated in the small group of SEFs, DCMs and DCOs that are the first to navigate the registration process.

Similarly, the lack of adequate resources would undoubtedly affect the agency’s ability to approve new products for trading. If the CFTC does not have the people to review new product applications to ensure that they are not violative of the act and are not readily susceptible to manipulation, the new products cannot be listed for trading. Again, I fear that a long queue will develop for new products waiting approval, and that the inability to get new products approved will prevent innovation and competition in our markets.

read more

Source: CFTC.gov


Opening Statement, Meeting of the Commodity Futures Trading Commission

Chairman Gary Gensler
October 26, 2010--Good morning. 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:
Certification and approval of rules and new products for designated contract markets, derivatives clearing organizations, swap execution facilities and swap data repositories;

Removing any reliance on credit ratings in Commission regulations;
Amending CFTC Regulations 1.25 and 30.7 to provide greater protections for customer funds held by futures commission merchants (FCMs) and derivatives clearing organizations;

Process review and the designation of swaps for mandatory clearing;

Enhancing the Commission’s ability to protect against manipulation; and An advance notice of proposed rulemaking on disruptive trading practices.

Before we hear from the staff, I’d like to thank my fellow Commissioners for all their hard work on the Dodd-Frank Act and all of our existing authorities. I’d also like to welcome members of the public, market participants and members of the media to today’s meeting, as well as welcome those listening to the meeting on the phone or watching the live webcast.

read more

Source: CFTC.gov


Fundamentals: Hope is Not a Strategy

October 26, 2010--The asset management business involves its fair share of travel. Mechanical delays, cancelled flights, inclement weather, hotel overbookings, and traffic snarls are just a few of the many things that can get in the way of getting to a meeting on time. But every once in a while, we get lucky—security is a breeze, the flight arrives 20 minutes early, there’s no line at the cab stand, traffic is nonexistent, and the hotel gives us a free upgrade. These rare instances are a blessed welcome.

Of course, it is not prudent to rely on good fortune, planning our itinerary on the basis of everything going right. Suppose we’re planning a very important trip—one that will determine the financial well being of our company and our employees, not just for the next few years but the decades ahead. Most of us would be ultra-conservative in building our itineraries, with contingency plans for anything that might go wrong. We’d arrive not just the night before, but the morning before.

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Source: Research Affiliates, llc


SEC Filings


September 09, 2025 Man ETF Series Trust files with the SEC-Man Active High Yield ETF and Man Active Income ETF
September 09, 2025 Tema ETF Trust files with the SEC-Tema International Durable Quality ETF
September 09, 2025 AIM ETF Products Trust files with the SEC-AllianzIM U.S. Equity Buffer5 ETF
September 09, 2025 AIM ETF Products Trust files with the SEC-AllianzIM Growth-100 Buffer5 ETF and AllianzIM Growth-100 Buffer15 ETF
September 09, 2025 AIM ETF Products Trust files with the SEC-AllianzIM International Equity Buffer5 ETF and AllianzIM International Equity Buffer15 ETF

view SEC filings for the Past 7 Days


Europe ETF News


September 04, 2025 Global X Launches Two High Dividend ETFs, Tracking Solactive European and United Kingdom SuperDividend Indices
September 03, 2025 The T+1 Thursday conundrum pushing instantaneous settlement on traders
September 01, 2025 ETF and ETP Listings on September 1, 2025, new on Xetra and Borse Frankfurt
August 29, 2025 21Shares Launches First ETP Tracking Hyperliquid, the Market Leader in Decentralized Perpetuals
August 27, 2025 ETF and ETP Listings on August 27, 2025, new on Xetra and Borse Frankfurt

read more news


Asia ETF News


September 08, 2025 Samsung Securities Launches Two ETNs Tracking Solactive China Mobility Top 5 Hedged to KRW Index and AI Tech Top 5 Hedged to KRW Index in First Collaboration with Solactive
September 03, 2025 SGX Securities Welcomes The Listing Of SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF
September 03, 2025 BTIG Begins Offering Access To Tokyo Stock Exchange's CONNEQTOR Platform
September 03, 2025 Exclusive: US trading firm Jane Street files appeal against India markets regulator
September 02, 2025 Hana Asset Management Launches 1Q Xiaomi Value-Chain Active ETF Tracking the Solactive-KEDI Xiaomi Focus China Tech Index

read more news


Global ETP News


September 04, 2025 Infographic-G20 Inflation Tracker: July
September 03, 2025 Ondo Brings Over 100 Tokenized U.S. Stocks and ETFs Onchain, Starting on Ethereum
August 27, 2025 FBS Analysis Highlights How Political Shifts Are Redefining the Next Altcoin Rally

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Middle East ETP News


September 02, 2025 Indxx US Infrastructure Index Licensed by KSM Mutual Funds Ltd. for an Index Tracking Fund
September 01, 2025 Lunate Launches Boreas Solactive Quantum Computing UCITS ETF, the First Thematic ETF to List on ADX, Tracking the Solactive Developed Quantum Computing Index
August 20, 2025 Mideast Stocks: Gulf bourses trade lower ahead of key Fed speech
August 14, 2025 Saudi, UAE drive GCC assets under management growth to $2.2trln
August 12, 2025 Exchanges get religion in pursuit of Muslim cryptobros

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Africa ETF News


August 24, 2025 Africa: Nigeria Leads Africa in Stablecoin Adoption With $22bn in Transactions

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ESG and Of Interest News


August 28, 2025 Collapse of critical Atlantic current is no longer low-likelihood, study finds
August 06, 2025 Why investing in Southern Africa's critical minerals is key for the global energy transition
August 04, 2025 World Cannot Recycle Its Way Out of Plastics Crisis, Report Warns
August 02, 2025 The Brain Economy: The New New Thing

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White Papers


September 08, 2025 Economic development, carbon emissions and climate policies

view more white papers