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Back to the drawing board for NYSE's ETF liquidity scheme
January 17, 2013--NYSE Arca has withdrawn its proposal to help exchange traded fund providers pay market makers for increased liquidity, a blow to providers looking for ways to make newer and smaller products more appealing to traders.
The Big Board notified the Securities and Exchange Commission on January 9 that it was withdrawing its Lead Market Maker Incentive Program pilot proposal, just days before the SEC was mandated by law to approve or reject the proposal, according to an SEC filing.
Finra Scrutinizes Options Firms Over Possible Order Mismarking
Janurary 17, 2013--Market regulators are pursuing a wide-ranging review of firms that trade stock options, scrutinizing electronic trading practices that may have allowed firms to avoid paying exchange fees and step ahead of other investors to complete trades.
The Financial Industry Regulatory Authority is conducting a sweep of options firms after exchanges last year levied a $6.75 million fine on Goldman Sachs Group Inc. for improperly submitting stock-options orders over a period of six years.
Announcing the Launch of the Customer Value Index 200: Identifying the Leading Customer Engagement Companies
January 17, 2013--The Porter Group, Brady Capital Research (www.bradycap.com), and wRatings Corporation (www.wRatings.com) today announced the launch of the Customer Value Index 200 (www.cvi200.com).
This innovative index offers investors an opportunity to capture the value offered by companies that have historically delivered high quality economic profits and developed deeply emotional customer relationships based on cultures of transparency, authenticity, and engagement. By combining a patented approach to identifying companies with superior competitive positions and harnessing the power of social media the CVI 200 offers a play on the appreciating value of “social capital” over the next decade and the real value creating powers of strong core values, dynamic corporate cultures, and stakeholder community focus.
CBO's Economic Forecasting Record: 2013 Update
January 17, 2013--For more than three decades, CBO has prepared economic forecasts that underlie the agency's projections for the federal budget and cost estimates for proposed federal legislation.
In particular, forecasts of output, income, inflation, and interest rates play a significant role in the agency’s budgetary analysis; for example, projections of wages and salaries are used to forecast individual income tax receipts.
CBO regularly evaluates the quality of its economic forecasts by comparing them with the economy’s actual performance and with forecasts by the Administration and the Blue Chip consensus—an average of about 50 private-sector forecasts. Such comparisons indicate the extent to which uncertainty and imperfect information may have caused CBO to “miss” patterns or turning points in the economy. They also identify areas where CBO has tended to make larger errors or less accurate forecasts than other analysts.
How Does CBO’s Forecasting Record Compare with Those of the Administration and the Blue Chip Consensus? CBO’s forecasts generally have been comparable in quality with those of the Administration and the Blue Chip consensus.
view the CBO's Economic Forecasting Record: 2013 Update
iShares revives US momentum with a little help from Vanguard
January 16, 2013--iShares benefited from a record sales year for exchange traded funds, but industry observers say its aggressive product and business strategy moves were major drivers in its ability to retake the sales crown from Vanguard.
While Vanguard remained the fastest-growing ETF shop as a percentage of total assets, iShares’ $60.7bn in net new assets for 2012 placed it ahead of Vanguard’s $52.7bn, according to Morningstar. Vanguard topped the ETF sales standings in 2011 and 2010.
ProShares files with the SEC
January 16, 2013--ProShares has filed a pre-effective amendment no.1 to form S-1 registration statement with the SEC. This Registration Statement on Form S-1 (this "Registration Statement") of ProShares Trust II (the "Registrant") is being filed for purposes of combining the Registrant's offerings into one prospectus from three prospectuses,
each contained in registration statements numbered 333-183672 and 333-178707 and adding a second prospectus relating to Managed Futures Funds series of the Registrant, registering additional shares to ProShares Short VIX Short-Term Futures ETF, and registering the offerings of three additional series of the Registrant. This Registration Statement contains two prospectuses: (i) a preliminary prospectus that includes one new Euro series of the Registrant (ProShares UltraPro Short Euro) and (ii) a preliminary prospectus that includes two new Managed Futures Funds series of the Registrant (ProShares Managed Futures Strategy and ProShares Commodity Managed Futures Strategy).
First Trust files with the SEC-First Trust Enhanced Low Beta Income ETF
January 16, 2013--First Trust has filed a post-effective amendment, registration statement with the SEC for the First Trust Enhanced Low Beta Income ETF.
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First Trust files with the SEC
January 16, 2013--First Trust has filed a post-effective amendment, registration statement with the SEC for the First Trust Enhanced High Income ETF.
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WisdomTree files with the SEC
January 16, 2013--WisdomTree has filed a post-effective amendment, registration statement with the SEC. This Post-Effective Amendment No. 145 relates to the following series of the Trust: the Indian Rupee Fund, Australia & New Zealand Debt Fund, Emerging Currency Fund, Brazilian Real Fund, Chinese Yuan Fund, Euro Debt Fund, Global Real Return Fund, Managed Futures Strategy Fund, Commodity Currency Fund, Emerging Markets Local Debt Fund, Asia Local Debt Fund, and Emerging Markets Corporate Bond Fund.
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iShares files with the SEC-iShares MSCI Russia Capped Index Fund
January 16, 2013--iShares has filed a post-effective amendment, registration statement with the SEC. This filing relates solely to the following Fund, a series of the Company: iShares MSCI Russia Capped Index Fund.
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iShares files with the SEC
January 16, 2013--iShares has filed a post-effective amendment, registration statement with the SEC.
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iShares files with the SEC
January 16, 2013--iShares has filed a post-effective amendment, registration statement with the SEC.
view filing
CFTC.gov Commitments of Traders Reports Update
January 15, 2013--The current reports for the week of January 08, 2013 are now available.
Corrections for the futures-only and the options and futures combined commitment reports dated January 8, 2013 for contract market IFED PG&E CITYGATE FIN BASIS (CFTC ID 023394) were made today.
Seven-year losing streak? Active stock ETFs could change the game
January 15, 2013--Asset management firms beset by massive outflows from actively managed stock funds are lining up to join in on the exchange-traded fund fun. It's probably too late to make a dent on the passive side, but actively managed stock ETFs could be just what the industry needs to tip flows back toward stock pickers.
Last week, T. Rowe Price Group Inc. became the latest fund firm to gain approval from the Securities and Exchange Commission to launch actively managed ETFs. Fidelity Investments, Franklin Resources Inc., Legg Mason Inc., Janus Capital Group Inc. and Columbia Management Investment Advisers all are in various stages of working through the exemptive relief process with the SEC.
Appeal of sector based ETFs spreads
January 15, 2013--Exchange traded funds that track the main sectors of the US stock market are growing in popularity with institutional investors despite them being traditionally used by hedge funds for short-term trading.
The most widely traded are the Select Sector SPDRs which provide exposure to nine broad categories in the US stock market.
