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iShares files with the SEC
September 23, 2010--iShares has filed a post-effective amendment, registration statement with the SEC for
iShares MSCI Philippines Investable Market Index Fund.
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Source: SEC.gov
iShares files wih the SEC
September 23, 2010--iShares has filed a post-effective amendment, registration statement with the SEC for
iShares MSCI Brazil Small Cap Index Fund.
view filing
Source: SEC.gov
BM&FBovespa starts trading of BDRs
September 23, 2010--BM&FBovespa, Brazil’s multi-asset exchange, is a launching a new set of Brazilian Depository Receipts, which will allow investors in the country to purchase receipts for shares of large foreign companies on the local exchange.
The ten first unsponsored BDRs – similar to the ADRs on the New York Stock Stock exchange – for companies such as Google, Apple, Arcelor Mittal and Goldman Sachs will be available from October 5 on the BM&FBovespa, the world’s third-largest exchange by market value. Many more are expected over the next year.
“This is another step of the evolution of Brazil as a financial centre,” says Diego Perfumo, analyst at Equity Research Desk in Greenwich, Connecticut. “This is a product that facilitates retail Brazilian investors’ ability to diversify their portfolios.”
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Source: FT.com
US Congress to attack renminbi valuation
September 23, 2010--mocratic leaders in the House of Representatives will move ahead with a bill allowing the US to retaliate against China for manipulating its currency, a significant escalation of the dispute between Washington and Beijing.
Sander Levin, chairman of the ways and means committee in the House of Representatives, said on Wednesday the bill would be compatible with World Trade Organisation rules.
But in a largely untested area of trade law the measure will evoke opposition from Beijing and could lead to a legal challenge in the WTO. The bill will go to committee on Friday and could be voted on by the full House as early as next week.
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Source: FT.com
Standard & Poor's Announces Changes in the S&P/TSX Venture Composite Index
September 23, 2010--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Thursday, September 23, 2010:
Champion Minerals Inc. (TSXVN:CHM) will be removed from the index.
The company will graduate to trade on TSX under the same ticker symbol.
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
CFTC to Publish All Outside Meetings Regarding Implementation of Dodd-Frank Wall Street Reform and Consumer Protection Act
September 23, 2010--Commodity Futures Trading Commission Chairman Gary Gensler today announced that the agency will begin publishing a list of all meetings that either he or Commission staff has with outside organizations regarding the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
“The CFTC is committed to promoting both market and agency transparency,” Chairman Gensler said. “As we implement the Dodd-Frank Act, we will make meetings that we have with outside organizations regarding the rule-writing process public. We also will continue publishing materials provided to the Commission by outside organizations. This commitment to open government will help promote the integrity of the rule-writing process.”
The list will be available in the “OTC Derivatives” section of the cftc.gov website, at http://www.cftc.gov/LawRegulation/DoddFrankAct/ExternalMeetings/index.htm
Source: CFTC.gov
Morningstar May Rate Leveraged ETFs Separately
September 23, 2010--Morningstar may remove leveraged and inverse exchange-traded funds from its star rating system and track them separately, Scott Burns, the firm’s ETF director, told attendees at Morningstar’s ETF conference last week.
And Howard Atkinson, president of Horizons BetaPro, the only provider of leveraged ETFs in Canada, says he can’t blame them.
“I agree. You can’t compare one-beta ETFs with leveraged ETFs where the investment objective is daily,” Atkinson told the National Post. “They’re no more comparable than bonds and equities are and have a different risk/return profile.”
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Source: Financial Planning
NASDAQ OMX Launches the Green Economy Index Family
September 23, 2010---- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced it is offering a comprehensive family of indexes designed to track the green economy. Leading the launch is the all-inclusive NASDAQ OMX Green Economy Index (Nasdaq:QGREEN), which is designed to serve investors who wish to benchmark an investment portfolio based on the segment of the economy that supports clean, renewable and sustainable economic development. NASDAQ
NASDAQ OMX will expand the Green Economy Index family with additional indexes in the coming months.
Combining the economic factors that power renewable and clean growth, the NASDAQ OMX Green Economy Index covers the entire green economic landscape with constituents that are selected across all industry sectors participating in the green solution. The Index acts as a benchmark for the performance of stocks in the following sectors: advanced materials; biofuels; energy efficiency; financial; green building; healthy living; natural resources; pollution mitigation; recycling; renewable energy generation; transportation and water.
"The NASDAQ OMX Green Economy Index provides a global investment benchmark for institutional and retail investors," said John Jacobs, Executive Vice President, NASDAQ OMX Global Index Group. "Amid the transition from a fossil based economy to the sustainable nature of the green economy, NASDAQ OMX continues to play a leading role in benchmarking the companies and sectors that are engaged in developing environmentally enhancing goods and services."
The NASDAQ OMX Green Economy Index is comprised of more than 350 securities from 13 distinct sectors from a universe of over 460 companies. Indexes tracking each sector and region of the Green Economy Index will be launched in the coming weeks. Companies for the entire Green Economy Index Family are selected by Rona Fried, Ph.D. of SustainableBusiness.com, LLC.
"Through the NASDAQ OMX Green Economy Index, investors will be able to get exposure to all the companies worldwide that stand to benefit from a societal transition toward a green economy. The Index covers the broadest array of companies from natural resources to healthy living, from energy efficiency to renewable energy, from green building to efficient transportation, and from green IT to advanced materials," said Rona Fried, Ph.D., CEO of SustainableBusiness.com, LLC, which jointly developed the Index family with NASDAQ OMX.
Four versions of the NASDAQ OMX Green Economy Index began calculating on September 22, 2010 at a base value of 1000.00. The versions are a Price Return (Nasdaq:QGREEN), Total Return (Nasdaq:QGREENX), a Capped Price Return (Nasdaq:QGREENCP4), and a Capped Total Return (Nasdaq:QGREENCP4X).
For more information about NASDAQ OMX's Green Economy Index Family and the upcoming Green Economy Sector indexes, visit https://indexes.nasdaqomx.com/green.aspx.
For information about the components and weights of the NASDAQ OMX Green Economy Index, visit NASDAQ OMX Global Index Watch at https://indexes.nasdaqomx.com/IndexWatch.aspx.
Source: NASDAQ OMX
Global X Funds Colombia and Silver Miners ETFs cross $100M in assets
September 23, 2010--Following in the footsteps of its China Consumer ETF (ticker: CHIQ), the Global X Funds family has pushed a second and third ETF product over the $100M asset threshold.
The Global X FTSE Colombia ETF (GXG) was the family’s first Emerging Markets fund, and has consistently been a top performer.
Its cumulative return has exceeded 180% since inception in Feb 2009, earning it the WSJ Category King of Latin American funds designation in Aug 2010 and Investor’s Business Daily’s Top World ETF in Sept 2010.
The Global X Silver Miners ETF (SIL) was launched last quarter to debut the family’s Global Commodities fund suite, and has garnered the highest average volumes. It traded nearly one million shares on its sixth day after launch. Despite the silver slowdown this summer, SIL now holds $101M in assets.
Momentum Ahead
Among other innovative products in the family, the Global X Brazil Financials ETF (BRAF) is the youngest with an inception date of 7/28/10, and has returned 6.96% already as of 9/20/10. Among the six Brazil indexes currently tracked by plain vanilla* ETFs, the Solactive Brazil Financials index has shown the highest upside and lowest downside over the past three years, as of 9/17/10.
Source: Global X Funds
Financial Stability Oversight Council Will Hold First Meeting On October 1
September 23, 2010--Today, Treasury Secretary Tim Geithner, in his capacity as chairperson of the Financial Stability Oversight Council, announced that the Council will hold its first meeting on October 1, 2010 at the U.S. Treasury Department.
The Dodd-Frank Wall Street Reform and Consumer Protection Act, which President Obama signed into law on July 21, 2010, established the Financial Stability Oversight Council. The Council will provide, for the first time, comprehensive oversight over the stability of our nation's financial system. It is charged with identifying threats to the financial stability of the United States; promoting market discipline by eliminating expectations on the part of shareholders, creditors, and counterparties that the government will shield them from losses in the event of failure; and responding to emerging risks to the stability of the United States financial system.
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Source: U.S. Department of the Treasury
