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Pimco Rolls Out Build America Bonds ETF

As muni market risks rise, passive indexation can emphasize the wrong issuers. Pimco's new ETF, however, is the first to offer active management of BABs.
September 20, 2010--AT FIRST GLANCE, Tuesday's scheduled launch of Pimco's latest municipal exchange-traded fund might seem more a matter of style than substance.

After all, the Pimco Build America Bond Strategy Fund (ticker: BABZ) joins an ETF party 10 months late. The first, Invesco PowerShares Build America Bond Portfolio (BAB) has attracted more than $547 million in assets since its launch last December, according to fund-tracker Morningstar, a pace of inflows that is beating some of the industry's biggest asset gathers.

Until now, it has faced only one other competitor: the SPDR Nuveen Barclays Capital Build America Bond ETF (BABS), which was launched five months after BAB and hasn't found nearly the traction with investors.

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Source: Barrons


Morningstar may drop star ratings for leveraged, inverse ETFs

September 20, 2010--Morningstar Inc., a Chicago-based research firm, may stop rating leveraged and inverse exchange- traded funds on a scale of one to five stars because of concerns about their suitability for individual investors.

The company is considering removing the ETFs from broader fund categories and putting them in a separate group, Scott Burns, Morningstar's director of ETF research, said in a telephone interview. The change would also end the funds' star ratings, he said.

“Star ratings are meant for investment vehicles and these are trading vehicles,” Burns said.

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Source: Investment News


U.S. International Reserve Position

September 20, 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 $130,249 million as of the end of that week, compared to $129,482 million as of the end of the prior week.

I. Official reserve assets and other foreign currency assets (approximate market value, in US millions)

 

 

 

September 17, 2010

A. Official reserve assets (in US millions unless otherwise specified) 1

 

 

130,249

(1) Foreign currency reserves (in convertible foreign currencies)

Euro

Yen

Total

(a) Securities

9,271

15,164

24,435

of which: issuer headquartered in reporting country but located abroad

 

 

0

(b) total currency and deposits with:

 

 

 

(i) other national central banks, BIS and IMF

13,673

7,431

21,104

ii) banks headquartered in the reporting country

 

 

0

of which: located abroad

 

 

0

(iii) banks headquartered outside the reporting country

 

 

0

of which: located in the reporting country

 

 

0

 

 

(2) IMF reserve position 2

12,231

 

 

(3) SDRs 2

56,636

 

 

(4) gold (including gold deposits and, if appropriate, gold swapped) 3

11,041

--volume in millions of fine troy ounces

261.499

 

 

(5) other reserve assets (specify)

4,802

--financial derivatives

 

--loans to nonbank nonresidents

 

--other (foreign currency assets invested through reverse repurchase agreements)

4,802

B. Other foreign currency assets (specify)

 

--securities not included in official reserve assets

 

--deposits not included in official reserve assets

 

--loans not included in official reserve assets

 

--financial derivatives not included in official reserve assets

 

--gold not included in official reserve assets

 

--other

 

 

 

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Source: U.S. Department of the Treasury


S&P And The Options Clearing Corporation Bring Central Counterparty Clearing To OTC Index Options

September 20, 2010--Standard & Poor's, the world's leading index provider, and The Options Clearing Corporation (OCC), the world's largest equity derivatives clearing organization, announced today that S&P has licensed the OCC to clear Over-The-Counter (OTC) options based on the S&P 500.

This landmark agreement represents the first time that central counterparty clearing will be available for OTC options based on the S&P 500, and marks OCC's first step into OTC equity derivatives clearing.

The licensing agreement between S&P and OCC, which also covers the S&P MidCap 400 and S&P SmallCap 600, will provide for greater risk management in the OTC equity derivatives marketplace served by these key indices. OCC will leverage its existing systems to provide clearing services. Pending regulatory approval, OCC expects to launch the service in summer 2011.

"OCC is pleased to work with S&P in taking this first step toward bringing the CCP clearing benefits of greater efficiency and risk reduction to the OTC equity derivatives arena," said Wayne P. Luthringshausen, OCC Chairman and CEO. "We will continue to work with our clearing members and market participants to best serve the needs of this evolving marketplace."

"This landmark licensing agreement is a prime example of Standard & Poor's helping to bring greater transparency and precision to the U.S. marketplace," says Alex Matturri, Executive Managing Director at S&P Indices. "It also marks the first time that any index provider has licensed its indices for central counterparty clearing."

Widely considered the single best gauge of the U.S. equity market since its launch in 1957, the S&P 500 is the world's most followed stock market index with $1.1 trillion directly indexed and $4.83 trillion benchmarked to it.

Source: Standard & Poors


Semi-Annual Changes to the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index

September 20, 2010--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Clean Edge, Inc. announced today the results of the semi-annual evaluation of the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index (Nasdaq:QGRD), which will become effective with the market open today.

The following four securities will be added to the Index: Wasion Group Holdings Ltd. (3393 HK), Hubbell Inc. (HUB/B UN), Red Electrica Corp SA (REE SM), and Thomas & Betts Corp. (TNB UN).

The Index is designed to act as a transparent and liquid benchmark for the smart grid and electric infrastructure sector. The Index includes companies that are primarily engaged and involved in electric grid; electric meters, devices, and networks; energy storage and management; and enabling software used by the smart grid and electric infrastructure sector. The securities must also meet other eligibility criteria which include minimum requirements for market capitalization and average daily dollar trading volume. The NASDAQ OMX Clean Edge Smart Grid Infrastructure Index is evaluated semi-annually in March and September. For more information about the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index, including detailed eligibility criteria, visit https://indexes.nasdaqomx.com/.

The First Trust NASDAQ(R) Clean Edge(R) Smart Grid Infrastructure Index Fund (Nasdaq:GRID) is an exchange traded fund that seeks investment results that correspond generally to the price and yield, before the Fund's fees and expenses, of the NASDAQ OMX(R) Clean Edge(R) Smart Grid Infrastructure Index.

As a result of the evaluation, no securities will be removed from the Index.

Source: NASDAQ OMX Global Index Group


Semi-Annual Changes to the NASDAQ OMX Clean Edge Global Wind Energy Index

September 20, 2010--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Clean Edge, Inc. announced today the results of the semi-annual evaluation of the NASDAQ OMX(R) Clean Edge(R) Global Wind Energy Index (Nasdaq:QWND), which will become effective with the market open today.

The following three securities will be added to the Index: Innergex Renewable Energy Inc. (INE CN), RWE AG (RWE GY), and Theolia SA (TEO FP).

The Index is designed to act as a transparent and liquid benchmark for the global wind energy sector. The Index includes companies that are primarily manufacturers, developers, distributors, installers, and users of energy derived from wind sources. The securities must also meet other eligibility criteria which include minimum requirements for market capitalization and average daily dollar trading volume. The NASDAQ OMX(R) Clean Edge(R) Global Wind Energy Index is evaluated semi-annually in March and September. For more information about the NASDAQ OMX(R) Clean Edge(R) Global Wind Energy Index, including detailed eligibility criteria, visit https://indexes.nasdaqomx.com/.

The NASDAQ OMX Clean Edge Global Wind Energy Index is the basis for the PowerShares Global Wind Energy Portfolio (Nasdaq:PWND), which seeks investment results that correspond generally to the price and yield of the NASDAQ OMX Clean Edge Global Wind Energy Index before fees and expenses.

As a result of the evaluation, the following six securities will be removed from the Index: Broadwind Energy Inc. (BWEN UQ), Centrica PLC (CNA LN), Clipper Windpower PLC (CWP LN), Greentech Energy Systems (GES DC), PNE Wind AG (PNE3 GY), and Terna Energy SA (TENERGY GA).

Source: NASDAQ OMX


CFTC.gov Commitments of Traders Reports Update

September 17, 2010--The CFTC.gov Commitments of Traders Reports for the week of September 14, 2010 is now available.

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Source: CFTC.gov


State Street Global Advisors-ETF Snapshot August 2010

September 17, 2010--As of August 31, 2010, 923 ETFs—with assets totaling approximately $800BN—were managed by 33 ETF managers.
ETF industry assets fell $21.8BN for the month, down 2.7%.

STATE STREET HIGHLIGHTS, AUGUST 2010

State Street Global Advisors (State Street) offers four international ETFs that provide access to international treasuries, international TIPS and international corporate bonds. In particular:

The SPDR® Barclays Capital International Corporate Bond ETF [IBND] was the first US-listed ETF to provide access to international corporate bonds.

IBND provides exposure to European, Asian, and other international corporate bonds. About 90% of IBND’s portfolio is denominated in Euros.1

ETF Industry Detail

ASSET CLASSES ? OVERALL

The S&P 500® Index fell 4.5% while the MSCI EAFE Index fell 3.0%. U.S. bonds rose with the Barclays U.S. Treasury Index, gaining 2.0% and the Barclays U.S. Aggregate Index, climbing 1.3%. Gold rose $77 to $1,246 per ounce.

Declines in the Size categories accounted for the majority of the total drop in ETF AUM.

The Fixed Income and Commodity categories rose $3.9BN and $3.4BN, respectively.

Year-to-date, areas with significant positive asset growth are Commodities: up $11.0BN, Fixed Income: up $31.1BN, and Dividend/Fundamental: up $4.4BN.

SIZE/STYLE

Large Cap assets fell $15.4BN, followed by Small Cap, down $3.6BN.

All Size and Style categories declined in assets.

SECTOR

Eight of ten Sectors fell for the month with Financials losing the most, down $1.2BN. Utilities and Materials were up slightly in absolute terms.

For more detail , please visit www.spdrs.com.

Source: State Street Global Advisors


Claymore/BNY Mellon Frontier Markets ETF Tops $130 Million in Assets

September 17, 2010--Claymore Securities, Inc., an innovator of investment product solutions and wholly-owned subsidiary of Guggenheim Partners, LLC, and BNY Mellon, the global leader in asset management and securities servicing, today announced that the Claymore/BNY Mellon Frontier Markets ETF (the "Fund") has surpassed $130 million in total assets. The Fund launched in June 2008 and trades on the NYSE Arca under the symbol "FRN."

The Fund seeks investment results that correspond generally to the performance, before the Fund's fees and expenses, of an equity index called the BNY Mellon New Frontier DR Index (the "Index"). Currently, the Index contains 47 constituents from 15 countries, including Argentina, Chile, Colombia, Czech Republic, Egypt, Georgia, Kazakhstan, Lebanon, Nigeria, Oman, Pakistan, Peru, Poland, Qatar and Ukraine. Sectors currently represented in the Index include financials, utilities, energy, telecom, materials, industrials, consumer staples and consumer discretionary. As such, the Fund provides investors access to a broad range of countries in the very early stages of development--a market segment that may offer an attractive risk/return profile and a lower correlation to the developed and emerging markets. The expense cap for the Fund is 0.65%.(1)

"Unlike more developed or emerging economies, frontier markets offer risk-tolerant investors a source of untapped economic potential," said Steven A. Baffico, senior managing director and head of U.S. Retail for Claymore Securities, Inc. "Investors are recognizing the potential growth opportunities many of these markets currently offer, such as the early development of effective harvest and management of natural resources, advancing their sovereign balance sheets, trade surpluses, infrastructure expansion, rising per capita GDP and the corresponding growth of the consumer. FRN offers investors the benefit of accessing these investment themes."

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Source: Claymore


SEC Proposes Measures to Enhance Short-Term Borrowing Disclosure to Investors

September 17, 2010--The Securities and Exchange Commission today voted unanimously to propose measures that would require public companies to disclose additional information to investors about their short-term borrowing arrangements.

The SEC's proposal would shed a greater light on a company's short-term borrowing practices, including what some refer to as balance sheet "window-dressing." The proposed rules are aimed to enable investors to better understand whether amounts of short-term borrowings reported at the end of reporting periods are consistent with amounts outstanding throughout the reporting periods.

"Under these proposed rules, investors would have better information about a company's financing activities during the course of a reporting period — not just a period-end snapshot," said SEC Chairman Mary L. Schapiro. "Investors would be better able to evaluate the company's ongoing liquidity and leverage risks."

Many financial institutions and other companies engage in short-term borrowing in order to fund operations. These financing arrangements can range from commercial paper, repurchase agreements, letters of credit, promissory notes and factoring. They generally mature in a year or less.

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Proposed Disclosure Requirements

view Commission Guidance on Presentation of Liquidity and Capital Resources Disclosures in Management’s Discussion and Analysis

Source: SEC.gov


SEC Filings


September 05, 2025 Founder Funds Trust files with the SEC-Founders 100 ETF
September 05, 2025 RBB Fund Trust files with the SEC
September 05, 2025 RBB Fund Trust files with the SEC
September 05, 2025 Investment Managers Series Trust II files with the SEC-20 Tradr 2X Long Daily ETFs
September 05, 2025 Simplify Exchange Traded Funds files with the SEC-Simplify VettaFi Private Credit Strategy 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

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Asia ETF News


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
August 28, 2025 New World Bank Report Charts Pathways for Energy Security, New Jobs, and Market Opportunities in East Asia

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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
August 07, 2025 Cryptocurrency Ranked: The 20 Largest Cryptocurrencies by Market Cap
August 07, 2025 CoinEx Research July 2025 Report: GENIUS Signed Bitcoin ReACTs

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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
July 31, 2025 New Standards for Economic Data Aim to Sharpen View of Global Economy

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White Papers


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