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Pimco files with the SEC PowerShares files with the SEC
PowerShares High Yield Equity Dividend AchieversTM Portfolio
(NYSE Arca, Inc. – PEY)
PowerShares International Dividend AchieversTM Portfolio
(NYSE Arca, Inc. – PID) view filing
Direxion files with the SEC Statement on High-Speed and Algorithmic Trading
I continue to say that without HFTs, the Flash Crash of May 6 wouldn't have been so volatile. I'm also not ruling out that these new players may have sought false profits from the Flash Crash by arbitraging using price quotes from market feed delays. I also continue to believe we need to ensure that these delays in price quotes were not instigated by HFTs at a time when exchange servers were not at full capacity due to system upgrade work. I said this several weeks ago and remain concerned that these issues be fully examined to ensure we have looked for all potential smoking guns from these Cyber Cowboys.
In general, we as regulators must get a better handle on overseeing high frequency and algorithmic trading. We know we can have serious problems when prices can change so much and so rapidly, and we have to find ways for the market to pause and "take a deep breath" when that starts to happen. Regulators have a responsibility to step it up and get ahead of the game in this area--otherwise, the American consumer will continue to pay the price for any problems caused by what may be harmful new trading technologies. CFTC Releases Final Rules Regarding Retail Forex Transactions The final forex rules put in place requirements for, among other things, registration, disclosure, recordkeeping, financial reporting, minimum capital and other business conduct and operational standards. Specifically, the regulations require the registration of counterparties offering retail foreign currency contracts as either futures commission merchants (FCMs) or retail foreign exchange dealers (RFEDs), a new category of registrant. Persons who solicit orders, exercise discretionary trading authority or operate pools with respect to retail forex also will be required to register, either as introducing brokers, commodity trading advisors, commodity pool operators (as appropriate) or as associated persons of such entities. “Otherwise regulated” entities, such as United States financial institutions and SEC-registered brokers or dealers, remain able to serve as counterparties in such transactions under the oversight of their primary regulators.
The final rules include financial requirements designed to ensure the financial integrity of firms engaging in retail forex transactions and robust customer protections. For example, FCMs and RFEDs are required to maintain net capital of $20 million plus 5 percent of the amount, if any, by which liabilities to retail forex customers exceed $10 million. Leverage in retail forex customer accounts will be subject to a security deposit requirement to be set by the National Futures Association within limits provided by the Commission. All retail forex counterparties and intermediaries will be required to distribute forex-specific risk disclosure statements to customers and comply with comprehensive recordkeeping and reporting requirements. State Street files with the SEC Van Eck files with the SEC John Hancock files with SEC WisdomTree files with the SEC Van Eck files with the SEC view filing
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
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)
Source: SEC.gov
August 30, 2010--Direxion has filed a post-effective amendment, registration statement with the SEC.
view filing
Source: SEC.gov
August 30. 2010--Commissioner Bart Chilton
This week, news articles reported what may be yet another example of high-speed trading run amok. It was reported that an “error” caused the price of oil to spike by a dollar on NYMEX in a matter of seconds back in February. Whether it was truly an error or not, the fact is that high-speed computerized trading has caused tectonic plate shifts in the way market participants engage in financial trading and investing.
But are these new types of high frequency traders (HFTs) truly contributing to fundamental capital formation, risk management and price discovery functions of our markets, or are they "sideline" trading, on the edges of the real markets? There is a good argument to be made that "parasitical trading" doesn't truly contribute to fundamental market functions. While I'm not saying all HFT is inimical to the markets, I think there's a great possibility that some of it is. There may be some Cyber Cowboys out there and they could be giving respectable traders a bad name, while not contributing much to basic market functions.
Source: CFTC.gov
August 30, 2010-- The U.S. Commodity Futures Trading Commission (CFTC) today announced the publication in the Federal Register of final regulations concerning off-exchange retail foreign currency transactions. The rules implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Food, Conservation, and Energy Act of 2008, which, together, provide the CFTC with broad authority to register and regulate entities wishing to serve as counterparties to, or to intermediate, retail foreign exchange (forex) transactions.
“These rules of the road will help protect the American public in the largest area of retail fraud that the CFTC oversees: retail foreign exchange,” CFTC Chairman Gary Gensler said. “All CFTC registrants involved in soliciting and selling retail forex contracts to consumers will now have to comply with rules to protect the investing public. This is also the first final rule that the Commission has published to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act. We look forward to publishing additional rules to protect the American public.”
Source: CFTC.gov
August 27, 2010--State State (SPDR SERIES TRUST) has filed a post-effective amendement, registration statement with the SEC.
view filing
Source: SEC.gov
Augsut 27, 2010--Van Eck has filed a third amended and restated application for exemptive relief with the SEC.
view filing
Source: SEC.gov
August 27, 2010--John Hancock Advisors has filed an amended and restated application for exemptive relief with the SEC.
view filing
Source: SEC.gov
August 27, 2010--WisdomTree has filed an amended and restated Application for exemptive relief with the SEC.
view filing
Source: SEC.gov
August 27, 2010--Van Eck has filed a post-effective amendment, registration statement with the SEC for
High-Yield Municipal Index ETF
(HYD)
Intermediate Municipal Index ETF
(ITM)
Long Municipal Index ETF
(MLN)
Pre-Refunded Municipal Index ETF
(PRB)
Short Municipal Index ETF
(SMB)
Source: SEC.gov
