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Statement From Chairman Schapiro on Financial Accounting Foundation Developments
August 24, 2010--The following is a statement from SEC Chairman Mary L. Schapiro regarding today's announcement by the Board of Trustees of the Financial Accounting Foundation (FAF) that the Financial Accounting Standards Board (FASB) will expand to seven members. In addition, FASB Chairman Robert Herz has decided to retire from the FASB, and current FASB member Leslie Seidman has been appointed Acting Chairman effective October 1.
"I commend the Financial Accounting Foundation for its ongoing efforts to evaluate and improve the effectiveness and efficiency of the structure and operation of the Financial Accounting Standards Board by increasing the size of the Board. The Foundation has determined that this revised structure will facilitate the continuing efforts of the FASB to work with the International Accounting Standards Board on their important convergence work plan. In addition, this should enhance the ability of the FASB to address issues facing the U.S. capital markets and the needs of investors.
read more
Source: SEC.gov
Pimco files with the SEC
August 24, 2010--Pimco has filed a post-effective amendment with the SEC for
PIMCO 1-5 Year High Yield Corporate Bond Index Fund (Ticker:HYS)
PIMCO High Yield Corporate Bond Index Fund (Ticker: PHYD)
PIMCO Investment Grade Corporate Bond Index Fund (Ticker: CORP)
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Foreign buyers flock to US Treasuries read more CFTC Signs SOI with Japan’s Ministry of Economy, Trade and Industry (METI) and Ministry of Agriculture, Forestry and Fisheries (MAFF)
There are three regulators in Japan that have jurisdiction over the derivatives markets: METI, MAFF and the Japan Financial Services Agency (JFSA). METI has oversight over precious metals, base metals, rubber and energy related products, and MAFF has jurisdiction over agricultural commodity trading. The JFSA regulates and supervises the activities of Japan's securities markets and financial futures markets.
The SOI with METI and MAFF follows an earlier SOI between the CFTC, the U.S. Securities and Exchange Commission and the JFSA in 2002. This latest SOI reflects the strong and continued commitment of each authority to combat cross-border fraud by providing the fullest assistance permissible under the laws of the United States and Japan. U.S. Department of the Treasury Economic Statistics - Quarterly Data Update U.S. Department of the Treasury Economic Statistics - Monthly Data Update SPDR ETF Announces Additional Information on Treatment of Weyerhaeuser Company Special Dividend
S&P 500 ETF Trust has elected the "STOCK" option. The Materials Select Sector SPDR(R) Fund, SPDR(R) Dow Jones Large Cap ETF, SPDR(R) Dow Jones Large Cap Value ETF and SPDR(R) Dow Jones Total Market ETF have elected the 'CASH" option. The details of each option are available in Weyerhaeuser Company's prospectus supplement filed with the Securities and Exchange Commission on July 13, 2010. Although several SPDR Funds elected the CASH option, it is expected that each SPDR Fund electing CASH will receive a mix of cash and WY stock. The ratio of cash and stock is not available at this time but, under the terms, up to 90% of the dividend could be paid in WY stock. Each SPDR Fund intends to retain the newly-issued WY securities unless its underlying index does not increase the WY weightings on or around the pay date of the distribution. The applicable index providers may not immediately increase the WY proportionately, and therefore the SPDR Funds may be over weight in WY versus their index for a short period.
The full amount of the Weyerhaeuser Company special dividend is anticipated to be included in the income dividend distribution scheduled for September regardless of the SPDR Fund's election and the final allocation between stock and cash of the dividend payment.
If more definitive information or revised information regarding the corporate action becomes available prior to payment date or if circumstances warrant, each SPDR Fund reserves the right to take actions deemed reasonable or necessary to best pursue its investment objectives consistent with the principal investment strategies of each SPDR Fund.
The SPDR Funds undertake no obligation to publicly update these statements to reflect subsequent events or circumstances.
State Street manages more than $200 billion in SPDR ETF assets worldwide (as of June 30, 2010) and is one of the largest ETF providers in the US and globally. ISE Introduces Step Up and Match Feature for Facilitation and PIM Orders “We are very excited to offer the Step Up and Match feature to our members,” said Boris Ilyevsky,
Managing Director of ISE’s options exchange. “This functionality provides our members with higher and
more flexible participation with orders they bring to our exchange while also providing price improvement
for their customers.”
Step Up and Match crossing orders can be submitted via PrecISE Trade®, FIX and API applications. For
more information, contact ISE Business Development at bizdev@ise.com. Emerging Markets Week in Review -8/16/2010 - 8/20/2010 read more CBOE Stock Exchange (CBSX) Establishes New Daily Volume Record With 90.8 Million Shares Traded
On August 16, CBSX instituted new pricing in 24 of the most-active, lower-priced securities traded on CBSX. The pricing pays "takers" a substantial rebate -- $0.0014 per share -- to remove liquidity when the security's price is above one dollar and charges "makers" an $0.0018 fee per share. read more
Source: SEC.gov
August 24, 2010--Foreign demand for long-term US Treasury debt has hit record levels as investors worry that weaker growth and deflation looms for the leading western economies
The flows into US and other top-tier government bonds such as Germany and the UK reflect fears that leading global economies are flirting with a period of sub-par growth and disinflation that could emulate Japan’s so-called “lost decade”.
Source: FT.com
August 24, 2010--The U.S. Commodity Futures Trading Commission (CFTC) today announced that it signed a Statement of Intent (SOI) Concerning Cooperation, Consultation and the Exchange of Information with the Ministry of Economy, Trade and Industry of Japan (METI) and the Ministry of Agriculture, Forestry and Fisheries of Japan (MAFF).
The SOI establishes a framework for information sharing and facilitates cooperation in cross-border investigations of potential violations of commodity futures laws. The SOI is supported by a diplomatic Note Verbale (Note) exchanged by the governments of the United States and Japan. The Note states the views shared by the two governments concerning the cooperation that the CFTC, METI and MAFF intend to provide under the SOI with respect to the way that information obtained under the SOI can be used by each country’s criminal authorities.
Source: CFTC.gov
August 24, 2010--The U.S. Department of the Treasury Economic Statistics - Quarterly Data has been updated is now available.
view update
Source: U.S. Department of the Treaury
August 24, 2010--The U.S. Department of the Treasury Economic Statistics - Monthly Data has been updated.
view update
Source: U.S. Department of the Treasury
August 24, 2010--As previously announced on August 19, 2010 and August 4, 2010, SPDR(R) S&P 500 ETF, The Materials Select Sector SPDR(R) Fund, SPDR(R) Dow Jones Large Cap ETF, SPDR(R) Dow Jones Large Cap Value ETF and SPDR(R) Dow Jones Total Market ETF (collectively, the "SPDR Funds"), as record holders of Weyerhaeuser Company, do not intend to make a special dividend payment reflecting the amounts received from the Weyerhaeuser Company special dividend.
The amounts received from Weyerhaeuser Company will be reflected as part of each SPDR ETFs' scheduled dividend payments.
Source: State Street Global Advisors
August 23, 2010-The International Securities Exchange (ISE) announced today that it has launched a new Step Up and Match feature for Facilitation and Price Improvement Mechanism (PIM)
orders. These orders are exposed to all ISE market participants who may respond to participate with the order during a one second auction.
The Step Up and Match functionality now allows firms originating the
order to step up and match the best price achieved during the auction or up to a specific limit price,
allowing greater flexibility for participation.
Source: International Securities Exchange (ISE)
August 23, 2010--The Dow Jones Emerging Markets Sector Titans Composite Index increase 0.37% last week as all sectors were positive except Energy, which dropped 0.41%. Consumer Goods and Services continued to drive the market forward, climbing 2.50% and 1.93% last week respectively.
The two are the best performing sectors on a year-to-date basis as well, highlighting the emergent impact of the middle class consumer in the world's developing regions.
Source: Emerging Global Advisors
August 23, 2010--The CBOE Stock Exchange, LLC (CBSX) today reported that trading volume on Friday, August 20 was a record for any day at CBSX. More than 90.8 million shares changed hands, surpassing the previous daily record of 63.7 million shares traded on August 12, 2010.
CBSX, launched in 2007, in July posted an all-time monthly high volume with 598.0 million shares traded.
Source: CBOE
