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S&P Launches MegaCap Index for Canadian Equity Market
Comprised of 25 of the largest, most liquid stocks listed on the Toronto Stock Exchange
September 27, 2010--Standard & Poor's, the world's leading index provider, announced today the launch of the S&P/TSX MegaCap Index, a large-cap index highlighting the 25 largest, most liquid stocks listed on the Toronto Stock Exchange. The Index is derived from the S&P/TSX Composite Index, a widely followed gauge of the Canadian equity market.
"The S&P/TSX MegaCap Index will provide investors with exposure to 25 of the largest, most liquid publicly traded companies in Canada," says Sid Oberoi, Senior Director at S&P Indices. "The Index covers over 50% of the market-cap of Canadian listed equities, providing investors with a gauge to measure the performance of this segment of the market."
To be included in the S&P/TSX MegaCap Index, securities must be among the 25 largest constituents in the S&P/TSX Composite in terms of float quoted market value (the value determined by multiplying the number of float shares of a security by the price for one such float share), and have listed options on the Montreal Exchange. In order to minimize turnover, additions and deletions from the S&P/TSX MegaCap are made at the Index's quarterly review.
The S&P/TSX MegaCap Index employs a buffer rule during the quarterly review where a security must be amongst the 35 largest constituents in the S&P/TSX Composite Index, and continue to have listed options on the Montreal Exchange. The top 5 constitutions by weight within the Index include: Barrick Gold Corp, Potash Corp of Saskatchewan, Suncor Energy Inc, Royal Bank of Canada, and Toronto-Dominion Bank.
"Toronto Stock Exchange is very pleased with the launch of this new index," says Andre Craig, Vice President, TMX Datalinx. "It provides a complementary offering to the core S&P/TSX benchmark indices and further demonstrates our joint commitment to providing new and innovative products for the capital markets."
For more information on the S&P/TSX MegaCap Index, including the methodology and fact sheet, please visit: www.standardandpoors.com/indices.
Source: Standard & Poors
ETSpreads, LLC files with the SEC
September 27, 2010--ETSpreads, LLC
has filed an amended and restated application for exemptive relief with the SEC. The Initial Fund, the ETSpreads US Inflation Linked Fund.
The Initial Fund will be based on a domestic fixed income securities Index (the “Initial Index”) and certain Future Funds may also be based on domestic fixed income securities Indexes.
read more
Source: SEC.gov
Brazil in ‘currency war’ alert
September 27, 2010--An “international currency war” has broken out, according to Guido Mantega, Brazil’s finance minister, as governments around the globe compete to lower their exchange rates to boost competitiveness.
Mr Mantega’s comments in São Paulo on Monday follow a series of recent interventions by central banks, in Japan, South Korea and Taiwan in an effort to make their currencies cheaper. China, an export powerhouse, has continued to suppress the value of the renminbi, in spite of pressure from the US to allow it to rise, while officials from countries ranging from Singapore to Colombia have issued warnings over the strength of their currencies.
read more
Source: FT.com
Emerging Markets Week in Review - 9/20/2010 - 9/24/2010
September 27, 2010--The Dow Jones Emerging Markets Sector Titans Composite Index returned 1.86% last week, its fourth consecutive weekly increase, and reached its highest close since July 2008. Technology led the market up, climbing 4.32%, and now leads all sectors this quarter and in 2010.
Energy and Utilities were the worst performers for the week, increasing 1.02% and 0.18% respectively. Last week's strong performance pushed all sectors into positive territory for the year as investors continue to favor emerging markets over their developed counterparts.
read more
Source: Emerging Global Advisors
Exchange-Traded Funds: US ETF Weekly Update- September 27, 2010
September 27, 2010--Weekly Flows:$6.1 Billion Net Inflows
ETFs Traded $345 Billion Last Week
Launches: 10 New ETFs
First Trust to Cut BICK Fee
Claymore Officially Changes Name to Guggenheim
Old Mutual Announces ETF Closures
US-Listed ETFs: Estimated Flows by Market Segment
For the fourth week in a row, ETFs generated net inflows —$6.1 blnlast week
Weekly net inflows driven by US Sector & Industry ETFs (6 of top 10 largest net inflows)-ETF assets stand at $885 bln; up 13.5% YTD
13-week flows are mixed among asset classes
$28.0 bln net inflows into ETFs over 13 wks; International -EM equity has strongest net inflows ($13.3 bln)
US-Listed ETFs: Estimated Largest Flows by Individual ETF
US-Listed ETFs: Estimated Largest Flows by Individual ETF
QQQQ posted net inflows of $3.2 blnlast week, the most of any ETF
QQQQ’sflows have been choppy this year, but we estimate YTD net inflows of $1.9 bln
Over 13-wk period, 2 EM equity funds (EEM & VWO) have taken in most new money ($9.8 blncombined)
US-Listed ETFs: ETF Dollar Volume
Market share of mthly ETF volume as % of listed volume has more than doubled over 5 yrs
US Large-Cap accounts for 45% weekly ETF volume, but only has 21% of market cap
Fixed Income accounts for only 3% weekly ETF volume, but has 16% of market cap
request report
Source: ETF Research-Morgan Stanley
Global Markets Advisory Committee Meeting
September 27, 2010--CFTC Commissioner Jill E. Sommers to chair the Commodity Futures Trading Commission’s Global Markets Advisory Committee meeting to discuss the European Commission Legislative Proposal for OTC Derivatives; Japanese Legislation on OTC Clearing; Ongoing and Anticipated IOSCO Projects; Dodd-Frank Rulemakings; and Foreign Board of Trade Registration Rulemaking.
When: Tuesday, October 5, 2010, 1:00 PM (ET)
Where:CFTC Hearing Room, 1155 21st Street, NW, Washington, DC
Topic: European Commission Legislative Proposal for OTC Derivatives; Japanese Legislation on OTC Clearing; Ongoing and Anticipated IOSCO Projects; Dodd-Frank Rulemakings; and Foreign Board of Trade Registration Rulemaking
Source: CFTC.gov
Claymore Exchange-Traded Funds Renamed Guggenheim Exchange-Traded Funds
September 27, 2010--In conjunction with today's announcement regarding the Claymore Securities, Inc. name change to Guggenheim Funds Distributors, Inc. ("Guggenheim Funds"), many of the firm's ETFs have been renamed while their respective ticker symbols and CUSIPs remain unchanged.
The table below lists the name changes. Further information regarding
Guggenheim Funds' ETF products is available at the Guggenheim Funds
website www.guggenheimfunds.com.
Tickers Prior Fund Name New Fund Name
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore BulletShares 2011 Corporate Bond ETF Guggenheim BulletShares 2011 Corporate Bond ETF
BSCB
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore BulletShares 2012 Corporate Bond ETF Guggenheim BulletShares 2012 Corporate Bond ETF
BSCC
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore BulletShares 2013 Corporate Bond ETF Guggenheim BulletShares 2013 Corporate Bond ETF
BSCD
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore BulletShares 2014 Corporate Bond ETF Guggenheim BulletShares 2014 Corporate Bond ETF
BSCE
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore BulletShares 2015 Corporate Bond ETF Guggenheim BulletShares 2015 Corporate Bond ETF
BSCF
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore BulletShares 2016 Corporate Bond ETF Guggenheim BulletShares 2016 Corporate Bond ETF
BSCG
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore BulletShares 2017 Corporate Bond ETF Guggenheim BulletShares 2017 Corporate Bond ETF
BSCH
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore S&P Global Water Index ETF Guggenheim S&P Global Water Index ETF
CGW
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore China Technology ETF Guggenheim China Technology ETF
CQQQ
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/Beacon Spin-Off ETF Guggenheim Spin-Off ETF
CSD
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/Beacon Global Timber Index ETF Guggenheim Timber ETF
CUT
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/Zacks Multi-Asset Income Index ETF Guggenheim Multi-Asset Income ETF
CVY
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/Zacks Mid-Cap Core ETF Guggenheim Mid-Cap Core ETF
CZA
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/Sabrient Defensive Equity Index ETF Guggenheim Defensive Equity ETF
DEF
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/BNY Mellon BRIC ETF Guggenheim BRIC ETF
EEB
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/BNY Mellon EW Euro-Pacific LDRs ETF Guggenheim EW Euro-Pacific LDRs ETF
EEN
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/SWM Canadian Energy Income Index ETF Guggenheim Canadian Energy Income ETF
ENY
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/NYSE Arca Airline ETF Guggenheim Airline ETF
FAA
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/BNY Mellon Frontier Markets ETF Guggenheim Frontier Markets ETF
FRN
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/AlphaShares China Small Cap Index ETF Guggenheim China Small Cap ETF
HAO
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/Zacks International Multi-Asset Income Index ETF Guggenheim International Multi-Asset Income ETF
HGI
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/S&P Global Dividend Opportunities Index ETF Guggenheim S&P Global Dividend Opportunities Index ETF
LVL
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/Sabrient Insider ETF Guggenheim Insider Sentiment ETF
NFO
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/Ocean Tomo Patent ETF Guggenheim Ocean Tomo Patent ETF
OTP
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/Ocean Tomo Growth Index ETF Guggenheim Ocean Tomo Growth Index ETF
OTR
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/Raymond James SB-1 Equity ETF Guggenheim Raymond James SB-1 Equity ETF
RYJ
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore Shipping ETF Guggenheim Shipping ETF
SEA
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/MAC Global Solar Energy Index ETF Guggenheim Solar ETF
TAN
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/AlphaShares China Real Estate ETF Guggenheim China Real Estate ETF
TAO
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/BNY Mellon International Small Cap LDRs ETF Guggenheim International Small Cap LDRs ETF
XGC
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/Zacks Sector Rotation ETF Guggenheim Sector Rotation ETF
XRO
--------- --------------------------------------------------------- ------------------------------------------------------
Claymore/AlphaShares China All-Cap ETF Guggenheim China All-Cap ETF
YAO
--------- --------------------------------------------------------- ------------------------------------------------------
Source: Guggenheim Funds Distributors, Inc.
iShares Announces Changes to Its Semiconductor ETF Including Changing to the PHLX Semiconductor Sector Index
September 27, 2010--BlackRock, Inc., today announced that the iShares Exchange Traded Funds (ETFs) business, the world's largest provider of ETFs, is changing the index, name, ticker and primary listing exchange of the iShares Semiconductor ETF.
The changes will provide investors, for the first time, with an unlevered ETF that will seek investment results that correspond generally to the price and yield performance, before fees and expenses, of the PHLX Semiconductor Sector Index. The PHLX Semiconductor Sector Index is managed by NASDAQ OMX Group and known as the "SOX Index."
Fund shareholders are not required to take any action as a result of this announcement. The changes are effective October 15, 2010, and are generally summarized below.
-----------------------------------------------------------------
-----------
Current New
----------------------------------------------------------------------------
Fund Name iShares S&P North American iShares PHLX SOX
Technology-Semiconductors Index Semiconductor Sector Index
Fund Fund
----------------------------------------------------------------------------
Index S&P North American Technology- PHLX Semiconductor Sector
Semiconductors Index Index ("SOX")
----------------------------------------------------------------------------
Ticker IGW SOXX
----------------------------------------------------------------------------
Exchange NYSE ARCA NASDAQ
----------------------------------------------------------------------------
Index Names 52 (as of 8/31/10) 30 (as of 8/31/10)
----------------------------------------------------------------------------
Weighting Modified market cap Modified market cap
Methodology
----------------------------------------------------------------------------
"There has been increased investor interest in a SOX based ETF with the ongoing evolution of the Index, therefore we're pleased to provide investors with the iShares PHLX SOX Semiconductor Sector Index Fund that will track such a well-known sector index," said Noel Archard, Head of U.S. iShares Product at BlackRock.
The PHLX Semiconductor Sector Index(SM) (SOX(SM)) is a modified
capitalization-weighted index composed of companies primarily
involved in the design, distribution, manufacture, and sale of
semiconductors. PHLX is a wholly owned subsidiary of the NASDAQ OMX
Group.
Source: BlackRock
BM&FBOVESPA implements new intraday price limit in its equity markets
This is an additional control and does not substitute the existing limit on fluctuations from a previous transaction
September 27, 2010--BM&FBOVESPA implemented on September 27 a new +/- 15% limit on price fluctuations in shares, ETFs and other assets traded on the spot market. Named the intraday limit, the new tool will establish minimums and maximums, based on a reference price for each asset.
The reference price will be the previous session’s closing quote, when considering the asset at the start of the day before the first trade, or the price of the day’s first trade. The asset’s reference price will be altered during the session if there is an auction sparked by the intraday limit being breached. In this case the reference price will become whatever results from the auction.
The new tool will function in the following manner: if a transaction results in a price breaching the upper or lower intraday limit it will be halted and the asset will be put up for auction. The intraday limit will not stand in the case of auctions. In other words, the price resulting from an auction can breach the newly-established limit. It is also important to emphasize that the intraday limit represents an additional control to, and not a substitution of, the existing limit on price fluctuations on consecutive transactions (price limit in relation to the last transaction executed), which has already been implemented in the Mega Bolsa system.
Source: BM&FBOVESPA
Montréal Exchange S&P/TSX 60™ Index Futures Trading Provides Market Open Indication
September 24, 2010--Montréal Exchange, TMX Group's derivatives exchange, reminds media that its leading market indicator, the S&P/TSX 60 IndexTM Futures contract (SXF), begins trading at 6:00 a.m. - 3 ½ hours prior to the opening of Toronto Stock Exchange at 9:30 a.m.
SXF has become a useful early market indicator; by observing the behaviour of the SXF during the pre-open period, Canadian media and investors will have the opportunity to anticipate the opening direction of trading on Toronto Stock Exchange.
SXF contract quotes - delayed by 15 minutes - are available on Montréal Exchange's web site at www.m-x.ca. Real-time SXF quotes are available through Bloomberg and Reuters for media and investors who have access to terminals.
Source: TMX Group (TSX-X)
