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CFTC Staff Allows Turkish Derivatives Exchange’s Futures Contract Based on the Istanbul Stock Exchange 30 Stock Index to be Offered and Sold in the United States
August 18, 2010-- The Commodity Futures Trading Commission’s (CFTC’s) Office of General Counsel yesterday issued a no-action letter permitting the offer and sale in the United States of Turkish Derivatives Exchange’s futures contract based on the Istanbul Stock Exchange 30 Stock Index (ISE-30).
The ISE-30 is a broad-based, free-float, market-capitalization-weighted, composite index of 30 highly capitalized and actively traded stocks currently listed on the “National Market” of the ISE, accounting for 70 percent of Turkey’s market volume and market capitalization.
Please Note:
This is a product approval only. U.S. customers may trade approved foreign exchange-traded products through a registered futures commission merchant (FCM) that is either a member of the foreign exchange on which that product is listed or has established an omnibus account with a clearing member on that exchange, or directly through a member of the foreign exchange that has been granted exemptive relief pursuant to Commission Regulation 30.10. For more information on foreign markets, products and intermediaries, please see the Commission’s website: http://www.cftc.gov/International/ForeignMarketsandProducts/index.htm.
Source: CFTC.gov
Exchange-Traded Funds: Quarterly Report: Over $810 Billion in 937 ETFs-Morgan Stanley
August 18, 2010--Quarterly Report: Over
$810 Billion in 937 ETFs
Net cash inflows were a relatively modest $40 Billion in the first half of 2010,
but have recently started to accelerate.
New issuance remains strong at 121 ETFs this year, and is on pace
for the most new listings since 2007. Year-to-date, fixed income, emerging market equity, and gold ETFs
continue to generate the strongest net inflows.
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Source: ETF Research-Morgan Stanley
Component Changes Made to Dow Jones Africa Titans 50 and Dow Jones Arabia Titans 50 Indexes
August 18, 2010-- Dow Jones Indexes, a leading global index provider, today announced that Groupe ONA (Morocco, Financial Services, ONA.CL) will be removed from the Dow Jones Africa Titans 50 and Dow Jones Arabia Titans 50 indexes.
In the Dow Jones Africa Titans 50 Index, Elswedy Cables Holding Co. (Egypt, Industrial Goods & Services, SWDY.CI) will replace Groupe ONA. In the Dow Jones Arabia Titans 50 Index, Suez Cement Co. (Egypt, Construction & Materials, SUCE.CI) will replace Groupe ONA. Groupe ONA is being removed due to its acquisition by a consortium led by Societe National d’Investissement (Morocco, SNI.CL).
All changes in the Dow Jones Africa Titans 50 Index and Dow Jones Arabia Titans 50 Index will be effective as of the open of trading on Friday, August 20, 2010. Further information on the Dow Jones Africa Titans 50 and Dow Jones Arabia Titans 50 indexes can be found on http://www.djindexes.com.
Source: Dow Jones Indexes
Hedge Funds Tap ETF for Gold Bets as Stock Correlation Rises
August 18, 2010--Hedge funds managed by George Soros, John Paulson and other high-profile investors are using a $50 billion exchange-traded fund to buy gold, recent filings show, even as the ETF's growing clout may be chipping at gold's role as an asset that moves to its own beat.
Eton Park Capital Management LP earlier this week showed it had joined a list of hedge funds that own SPDR Gold Shares, an ETF backed by about 1,300 metric tons of the precious metal. Eton revealed a roughly $800 million stake in the ETF. Paulson & Co., Mr. Paulson's firm, kept its stake in the gold ETF steady at 31.5 million shares, meaning its position was close to $4 billion at the end of the second quarter.
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Source: Wall Street Journal
Interest in Gold Shares Surge, Says ETF Securities Executive
August 18, 2010--ETF Securities USA said ETFS Physical Swiss Gold Shares (SGOL) had a record day’s trading volume on August 11 of 1.74 million shares, or $208 million. This represents the greatest one-day volume since its first U.S. trading day on September 9, 2009.
“The fact that there is buying of gold in a quiet month may tell us something about what is expected to happen in the next two quarters,” said William Rhind, strategic director of U.S. business development for ETF Securities USA, in a phone interview.
"Investors [and investment advisors] are concerned about a potential douple dip in the economy," Rhind explained, "and how it will affect their clients' wealth more generally."
The largest holders of SGOL, he adds, are large mutual-fund providers and wirehouse broker-dealers.
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Source: Investment Advisor
Jefferies files with the SEC
August 18, 2010--Jefferies has filed a pre-effective amendment to Form S-1 with the SEC for
Jefferies S&P 500 VIX Short-Term Futures ETF.
view filing
Source: SEC.gov
Global X files with the SEC
August 18, 2010--Global X has filed a post-effective amendment, registration statement with the SEC for
Global X Gold Explorers ETF.
view filing
Source: SEC.gov
U.S. One files with the SEC
August 18, 2010--U.S. One has filed an order for exemptive relief with the SEC.
read more
Source: SEC.gov
ETFS Physical Swiss Gold Shares (SGOL) experiences highest daily trading volume since inception
August 17, 2010--SGOL Volume: SGOL volume reached a record 1.74m shares on August 11th, 2010.
SGOL Assets under Management: Total assets for SGOL now exceed $695M as of August 13th, 2010.
ETF Securities USA LLC (ETFS) announced a record days trading volume in ETFS Physical Swiss Gold Shares (SGOL) of 1.74m shares or approx $208m in dollar value traded. 1.74m shares represents the largest one day volume since SGOL’s inception on September 9th, 2009.
ETFS Gold Trust
The objective of the ETFS Gold Trust’s (SGOL) shares reflect the performance of the price of Gold, less the Trust’s expenses. The Trust is open ended and is designed for investors who want a cost-effective (1) and convenient (2) way to invest in Gold as well as diversify their precious metal holdings. SGOL has an expense ratio of 0.39% (3) per annum.
ETFS Gold Trust (SGOL) is backed by allocated Gold bullion and stored in secure vaults in Switzerland by the Custodian, JPMorgan Chase Bank, N.A, one of the world's leading Custodians for precious metals. The Shares represent an interest in physical gold owned by the Trust. The physical gold of the Trust is subject to minimal counterparty or credit risks, which contrasts with other offerings that achieve bullion exposure through the use of derivatives.
William Rhind, Head of Sales & Marketing for ETFS Marketing LLC, commented:
“Last week’s exchange traded volume of 1.74 million shares in SGOL is a landmark event for the product. SGOL continues to appeal to investors looking for a way to gain exposure to physical gold in Switzerland”.
For more information please visit www.etfsecurities.com
Source: ETFS Marketing LLC
Exchange-Traded Funds: US ETF Weekly Update-Morgan Stanley
August 17, 2010--Highlights
Weekly Flows: $10.3 Billion Net Outflows
ETFs Traded $306 Billion Last Week
Launches: 3 New ETFs
Claymore to Close 4 ETFs
US-Listed ETFs: Estimated Flows by Market Segment
ETFs had net cash outflows of $10.3 blnlast week, reversing 5 weeks of net inflows
Weekly net outflows were dominated by US-based ETFs; only 22% of ETFs generated net inflows last week
ETF assets stand at $811 bln; down 4% last week
13-wk flows have turned mixed
$11.9 bln net inflows into ETFs over 13 wks; Fixed Income & International -EM capture most new money
US-Listed ETFs: ETF Dollar Volume
Market share of monthly ETF volume as % of listed volume has nearly tripled over 5 yrs
US Large-Cap accounts for 46% weekly ETF volume, but only has 20% of market cap
Fixed Income accounts for only 3% weekly ETF volume, but has 17% of market cap
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Source: Morgan Stanley