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CFTC to Begin Releasing Index Investment Data on a Monthly Basis

August 30, 2010-- The Commodity Futures Trading Commission (CFTC) today announced that it would begin releasing data on index investment in commodity futures markets on a monthly basis. The CFTC has been releasing the data on a quarterly basis since September 2009.

“Promoting the transparency of markets is at the core of the CFTC’s mission,” CFTC Chairman Gary Gensler said. “Releasing index investment data 12 times per year rather than on the previous quarterly basis enhances the public’s ability follow the overall participation of index accounts in futures markets. We will continue to look for ways to improve both agency and market transparency.”

The first monthly release of index investment data will occur on Tuesday, August 31, 2010, for data as of July 30, 2010.

Please refer to the Index Investment Data Explanatory Notes under Related Documents for additional information.

Source: CFC.gov


SLCG Issues Leveraged ETF Report

August 30, 2010-- Securities Litigation and Consulting Group, Inc. ("SLCG") has issued an investment management study into leveraged and inverse exchange traded funds ("ETFs"), "Leveraged ETFs, Holding Periods and Investment Shortfalls". The report's primary authors are Ilan Guedj, Guohua Li and Craig McCann. Dr. McCann and Dr. Guedj are Principals of SLCG and Dr. Li is a Senior Financial Economist. Dr. McCann and Dr. Guedj are former university professors. Dr. McCann is a former Securities and Exchange Commission economist.

The SLCG study explains that investors who hold leveraged and inverse ETFs for periods longer than a day expose themselves to substantial risk that the holding period returns will deviate from the returns to a leveraged or inverse investment in the index. The study reports estimated distributions of holding periods for investors in actual leveraged and inverse ETFs using standard stock trading models found in the literature.

The report estimates the investment shortfall incurred by investors who hold leveraged and inverse compared to investing in a simple margin account to generate the same leveraged or short investment strategy to be as much as 3% of their investment in less than 3 weeks, an annualized cost of 50%. The study also discusses the viability of leveraged and inverse leveraged ETFs that rebalance less often than daily and calculate their costs to investors.

view Leveraged ETFs, Holding Periods and Investment Shortfalls paper

Source: Securities Litigation and Consulting Group, Inc.


New Commodity ETF Touts Academic Pedigree

August 30, 2010--A new commodity exchange-traded fund carries an endorsement from a high-profile name from academia. But its complex mechanics and scanty track record means potential buyers will want to study it carefully.
Commodities have been taking a role in more portfolios as investors come to believe that a sliver of exposure to assets like gold and oil can smooth out investment returns.

More than $8 billion has poured into broad-based commodity ETFs since they first appeared in 2006. Even more money has gone into ETFs that track single commodities like gold and broad-based actively managed funds like Pimco Commodity Real Return fun

Now SummerHaven Investment Managament LLC is trying to get into the game with a new ETF, U.S. Commodity Index Fund (trading symbol USCI). The firm's partners include Yale Management School Professor Geert Rouwenhorst, whose research helped spur small-investor interest in commodities.

The fund's pitch: Its computer-driven investment strategy favors commodities with low inventories, which are more prone to price spikes, and thus will produce better returns than conventional commodity indexes whose holdings reflect production or trading volumes.

read more

Source: WSJ.com


CME Group To Offer Customers Exposure To Benchmark U.S. Treasury Securities

August 30, 2010--- CME Group, the world's leading and most diverse derivatives marketplace, announced the launch of On-the-Run U.S. Treasury futures beginning Monday, October 25, 2010. These new futures contracts will provide market participants with efficient and cost-effective price exposure to 2-Year, 5-Year, and 10-Year U.S. Treasury on-the-run yields. The new contracts will be listed with, and subject to, the rules and regulations of the CBOT.

"This new suite of cash-settled On-the-Run futures will complement our existing suite of physically-delivered U.S. Treasury futures and create new trading opportunities for our clients," said Robin Ross, CME Group's Managing Director of Interest Rate Products. "The On-the-Run U.S. Treasury futures contracts will offer clients an easy way to trade synthetic Treasury yield curve and swap spread strategies, with the added benefit of cross-margining against CME Group benchmark interest rate products."

"At a time when U.S. Treasury bond traders are facing increasing margin requirements and balance sheet regulation, it just seems logical to offer synthetic 'on-the-run' futures," said John Brosnan, XR Trading LLC's Head of Fixed Income Trading. "In addition to cross-margining, there are other subtleties that make these products attractive, such as the opportunity for broader market participation during the 'When Issued' period leading up to the auction. These products should also help firms optimize their hedging precision and more effectively manage tail-risk. I think regardless of usage, these products will create opportunity for a variety of end-users.".

read more

Source: CME Group


BATS 1000 INDEX DECLINES 0.4% ON WEEK

Aug. 27, 2010 – BATS Exchange’s BATS 1000SM Index (BATSK) was down 0.4% for the week ending August 27, compared to a decline of 0.7% for the S&P 500 Index. The BATS 1000 Index, operated by the third-largest exchange in the US, ended this week at 12,015 as of 4 p.m. ET. Last week the Index closed at 12,063, down 0.6%.

Two of the ten sectors that comprise the Index advanced this week, while eight sectors declined. Utilities advanced 1.9% and Alterative Resources and Energy was up 0.1%. The Industrials and Manufacturing sector and Technology and Communications sector were both down 1.6%, which led the declines.

A href="http://www.batstrading.com/resources/press_releases/BATS_1000_Summary_082710_Week_FINAL.pdf" TARGET="_top">read more

Source: BATS


U.S. International Reserve Position

August 30, 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 $129,392 million as of the end of that week, compared to $128,951 million as of the end of the prior week.

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

 

 

 

August 27, 2010

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

 

 

129,392

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

Euro

Yen

Total

(a) Securities

9,110

15,284

24,394

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

13,375

7,488

20,864

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

12,268

 

 

(3) SDRs 2

56,128

 

 

(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)

4,697

--financial derivatives

 

--loans to nonbank nonresidents

 

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

4,697

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

 

 

 

read more

Source: U.S. Deapartment of the Treasury


Schwab To Buy ETF-Heavy Firm Windward For $150M In Stock, Cash

August 30, 2010-- Charles Schwab Corp. (SCHW) said it will pay $150 million in cash and stock to buy investment advisory firm Windward Investment Management Inc., looking to capitalize on the rapidly growing realm of exchange-traded funds.

Specific financial details of the deal weren't disclosed. Schwab said it expects the acquisition to add "modestly" to the bottom line during the first 12 months after the deal closes.

read more

Source: Bloomberg


Pimco files with the SEC

August 30, 2010--Pimco has filed a Post-Effective Amendment No. 21 to the Registration Statement of PIMCO ETF Trust.

view filing
Source: SEC.gov


PowerShares files with the SEC

August 30, 2010--PowerShares has filed a post-effective amendment, registration statement with the SEC for
PowerShares Buyback AchieversTM Portfolio (NYSE Arca, Inc. – PKW)
PowerShares Dividend AchieversTM Portfolio (NYSE Arca, Inc. – PFM)

PowerShares Financial Preferred Portfolio (NYSE Arca, Inc. – PGF)

PowerShares High Yield Equity Dividend AchieversTM Portfolio (NYSE Arca, Inc. – PEY)

PowerShares International Dividend AchieversTM Portfolio (NYSE Arca, Inc. – PID)

view filing

Source: SEC.gov


Direxion files with the SEC

August 30, 2010--Direxion has filed a post-effective amendment, registration statement with the SEC.

view filing

Source: SEC.gov


SEC Filings


July 11, 2025 RMB Investors Trust files with the SEC
July 11, 2025 Mutual Fund Series Trust files with the SEC
July 11, 2025 Simplify Exchange Traded Funds files with the SEC-Simplify Government Money Market ETF
July 11, 2025 Tortoise Capital Series Trust files with the SEC-Tortoise Global Water Fund
July 11, 2025 EA Series Trust files with the SEC-Towle Value ETF

view SEC filings for the Past 7 Days


Europe ETF News


July 02, 2025 Valour Launches Eight New ETPs on Spotlight Stock Market, Including Bitcoin Cash (BCH), Unus Sed Leo (LEO), OKB (OKB), Polygon (POL), Algorand (ALGO), Filecoin (FIL), Arbitrum (ARB), and Stacks (STX)
June 16, 2025 ESMA's activities in 2024 focused on strengthening the EU capital markets and putting citizens and businesses at the heart of it
June 12, 2025 Janus Henderson launches active fixed income ETF
June 12, 2025 ifo Institute Raises Growth Forecast for Germany

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Asia ETF News


July 02, 2025 Fujitsu to develop ETF trading platform based on TSE's CONNEQTOR and provide it to Australian Securities Exchange
June 25, 2025 QFIIs Gain Access to Onshore ETF Options As A-share Market Opening Deepens
June 18, 2025 Mirae Asset Global Investments Launches MIRAE ASSET TIGER CHINA GLOBAL LEADERS TOP3 PLUS ETF, Tracking Solactive-KEDI China Global Leaders TOP3Plus Index
June 13, 2025 Post-Adjustment ChiNext Index Attracts Global Assets with Low Valuation and High Growth Potential
June 13, 2025 Unlocking Consumption to Sustain Growth in China -World Bank Economic Update

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Global ETP News


July 07, 2025 WTO issues new edition of World Tariff Profiles
July 03, 2025 Flow Traders-Tokenization in Capital Markets: A Market Maker's Perspective
June 14, 2025 Global Economic Prospects-Global Economy Faces Trade-Related Headwinds
June 12, 2025 Disclosing Public Debt Boosts Investor Confidence, Cuts Borrowing Costs 

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Middle East ETP News


June 19, 2025 GCC: Growth on the Rise, but Smart Spending Will Shape a Thriving Future
June 16, 2025 Saudi Exchange leads market losses across the GCC

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Africa ETF News


July 04, 2025 South Africa: African Development Bank Country Focus Report highlights urgent need for economic transformation as GDP growth remains subdued
July 01, 2025 Africa's Trade Projected to Hit $1.5 Trillion in 2025
June 26, 2025 National stock exchange launched in Somalia
June 24, 2025 East Africa's regional 20 share index
June 16, 2025 African Credit Rating Agency to Launch September 2025

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ESG and Of Interest News


June 30, 2025 OECD-Environment at a Glance Indicators
June 18, 2025 Global Energy Transition Gains Ground, but Security and Capital Challenges Persist
June 17, 2025 Pacific Economic Update: Slowing Growth Highlights Need for More Inclusive Workforce
June 10, 2025 Global Carbon Pricing Mobilizes Over $100 Billion for Public Budgets
June 07, 2025 Accelerating Blue Finance: Instruments, Case Studies, and Pathways to Scale

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White Papers


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