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Dow Jones Indexes Enhances Index Methodology
July 26, 2010--Dow Jones Indexes, a leading global index provider, today announced enhancements to the methodology of the Dow Jones Global and U.S. Total Stock Market indexes as well as the Dow Jones Global Index.
Effective with the open of trading on September 20, offshore-companies with a primary listing on a U.S. stock exchange will be eligible to be included in the Dow Jones U.S. Total Stock Market Index. This modification addresses the consequences of a change in U.S. tax law, whereby a number of offshore-companies with a primary U.S. listing decided to transfer their domicile of incorporation to other financial centres such as Ireland and Switzerland.
Previously, the companies were included in the index of the country to which they transferred their incorporation. As a result, the indexes tracking those countries' markets no longer provided an accurate measure of local equities trading because of the inclusion of non-local companies.
Also effective with the open of trading on September 20, companies that are listed on the Korean Securities Dealers Automated Quotations (KOSDAQ), a trading board of the Korea Exchange (KRX) in South Korea, will be eligible to be included in the Dow Jones Global and Dow Jones Global Total Stock Market indexes. Currently, Dow Jones Indexes includes stocks from the Korea Stock Exchange, the stock market division of KRX. As of July 16, 2010, there are 966 companies listed on KOSDAQ, which will be screened for inclusion. These companies have a free-float market capitalization of approximately $41 billion.
The Dow Jones Global Total Stock Market Index provides comprehensive coverage of the world's equity markets with a consistent rules-based methodology. The Dow Jones Global Index family is a comprehensive global index series designed to provide a complete range of portfolio-management and benchmarking tools.
Included in the Dow Jones Global Total Stock Market Index universe are common shares and other securities with the characteristics of common equities from countries that provide accessibility to nonresidents and availability of real-time and historical market data. To produce the investable securities universe, the equities included in the broad market are screened to exclude securities without readily available prices. Companies that survive this analysis have their shares outstanding adjusted for "float," which is those shares readily available for trading by investors.
The Dow Jones Global Index universe is defined as all equity securities in 51 countries. The Dow Jones Global Index family covers only those countries that are accessible to nonresidents and that provide access to real-time and historical market data. Eligible for selection are all equity securities that trade on the major exchanges of these countries, screened for liquidity (no more than ten non-trading days in the three months prior to selection). For Emerging Market countries with significant barriers to direct foreign investment, Dow Jones Indexes may opt to include in the indexes those issues directly listed on U.S. exchanges, such as Depository Receipts (DRs) and other types of offshore listings.
Source: Dow Jones Indexes
July 2010 Monthly Preliminary Performance Report Dow Jones-UBS Commodity Indexes
July 26, 2010--The Dow Jones-UBS Commodity Index was up 3.30% for the month of July. The Dow Jones-UBS Single Commodity Indexes for Wheat, Sugar and Lead had the strongest gains with month-to-date returns of 24.15%, 13.70%, and 12.83%, respectively. The three most significant downside performing single commodity indexes were Gold, Silver and Natural Gas, which were down -4.67%, -3.24%, and -1.91% respectively, in July.
Year to date, the Dow Jones-UBS Commodity Index is down -6.67% with the Dow Jones-UBS Coffee Sub-Index posting the highest gain of 17.69% so far in 2010. Dow Jones-UBS Sugar Sub-Index has the most significant downside YTD performance, down -32.34%.
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Source: Mondovisione
NASDAQ Announces Mid-month Open Short Interest Positions In NASDAQ Stocks As Of Settlement Date July 15, 2010
July 26, 2010--At the end of the settlement date of July 15, 2010, short interest in 2,410 NASDAQ Global Market(SM)securities totaled 7,097,589,765 shares compared with 7,040,374,238 shares in 2,417 Global Market issues reported for the prior settlement date of June 30, 2010. The mid-July short interest represents 2.98 days average daily NASDAQ Global Market share volume for the reporting period, compared with 3.67 days for the prior reporting period.
Short interest in 496 securities on The NASDAQ Capital Market(SM)totaled 325,248,913 shares at the end of the settlement date of July 15, 2010 compared with 351,632,659 shares in 492 securities for the previous reporting period. This represents 3.10 days average daily volume, compared with the previous reporting period's figure of 4.50.
In summary, short interest in all 2,906 NASDAQ(R) securities totaled 7,422,838,678 shares at the July 15, 2010 settlement date, compared with 2,909 issues and 7,392,006,897 shares at the end of the previous reporting period. This is 2.99 days average daily volume, compared with an average of 3.70 days for the previous reporting period.
The open short interest positions reported for each NASDAQ security reflect the total number of shares sold short by all broker/dealers regardless of their exchange affiliations. A short sale is generally understood to mean the sale of a security that the seller does not own or any sale that is consummated by the delivery of a security borrowed by or for the account of the seller.
For more information on NASDAQ Short interest positions, including publication dates, visit http://quotes.nasdaq.com/asp/MasterDataEntry.asp?page=ShortInterest or http://www.nasdaqtrader.com/asp/short_interest.asp.
Source: NASDAQ OMX
CEOs Of Small And Medium Enterprises Are More Optimistic About Growth Prospects Than Heads Of Larger Companies, According To The Annual NYSE Euronext CEO Report
CEOs of SMEs with less than $500 million in revenue are more optimistic about current growth prospects than those of larger companies
July 26, 2010--CEOs expect to increase their budgets in all aspects of their businesses
--Investors are showing renewed interest in companies
Chief executives of companies with less than $500 million in revenue listed on NYSE Euronext exchanges are the most bullish about their growth prospects through 2011, according to the newly released NYSE Euronext CEO Report.
Themed "Back to Business," the study finds that four in 10 (38%) CEOs of small and medium-sized enterprises (SMEs) expect significant growth within their companies. Globally, eight in 10 CEOs say they expect either a significant or modest improvement in the growth of their businesses through 2011, a positive indicator of a turning point in the health of the global economy.
"NYSE Euronext CEO Report represents the shared perspectives of corporate leaders on topics ranging from globalization and governance to strategy and human resources as well as economic crisis and recovery," said Duncan Niederauer, CEO of NYSE Euronext. "While the participating CEOs express the fact that there remains a great deal of work yet to be done, their renewed optimism and confidence in the growth of their businesses is an indication that the economy is headed in the right direction."
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Source: NYSE Euronext
As popularity of ETF products grows so does the need for more sophisticated trading tools. In recognition of this, Bank of America Merrill Lynch today unveiled its premium algorithm, ETF-aX. This new ETF-specific algorithm analyzes market depth and price
July 26, 2010--As popularity of ETF products grows so does the need for more sophisticated trading tools. In recognition of this, Bank of America Merrill Lynch today unveiled its premium algorithm, ETF-aX. This new ETF-specific algorithm analyzes market depth and price data across an ETF's underlying portfolio to identify the most efficient combination of ETF, stock, and futures and then automatically trades them to source liquidity and find the best prices.
"The primary challenge with trading ETFs is market fragmentation; liquidity is limited outside of the top-ranked ETFs," said Charlie Whitlock, an execution consultant at BofA Merrill. "By using ETF-aX, clients are able to leverage our in-house ability to trade a combination of the component parts in different markets, gaining liquidity at more efficient pricing."
Upon receiving a client's order to trade an ETF, the engine analyzes inside pricing and depth of book across the ETF, stock, and futures markets to compile a picture of available liquidity. Once ETF-aX determines the optimal way to transact, balancing a desire for the best pricing against a need to capture the most liquidity, slices are simultaneously sent out to all market centers. A composite ETF price is assembled from the different executions and provided to clients.
"This technology has a proven and successful track record within our high-touch business," said Michael J. Lynch, head of Americas Execution Services. "It's a premium product that we think our electronic clients can greatly benefit from once integrated into their algo trading suite."
Bank of America Merrill Lynch is a leading global provider of equity and options trading, sales and research services to mutual funds, hedge funds, broker-dealers, pensions, endowments and other institutions. Its award-winning algorithmic trading platform was ranked as one of the top three providers of algorithmic trading, (1) and as having one of the top three market share positions of daily global algorithmic trading volumes in 2009. (2) Bank of America Merrill Lynch is also ranked No. 2 in the World's Best Broker by Bloomberg Markets. (3)
Source: Bank of America
CFTC Designates Green Exchange, LLC as a Contract Market
July 26, 2010--The Commodity Futures Trading Commission (CFTC) yesterday approved the application of Green Exchange, LLC (“GreenEx”) for designation as a contract market. GreenEx is organized as a Delaware Limited Liability company and is a wholly-owned subsidiary of Green Exchange Holdings, LLC (“GreenEx Holdings”).
Chicago Mercantile Exchange, Inc. (“CME”) is the largest equity owner of GreenEx Holdings. Other equity owners include Evolution Markets, Inc., Morgan Stanley Capital Group, Inc., Credit Suisse First Boston, Goldman Sachs, as well as other brokers, dealers and commercial users.
GreenEx will list for trading a broad variety of contracts for environmental risk management that are currently traded on the New York Mercantile Exchange (“NYMEX”).
GreenEx will use CME’s Globex electronic trade-matching system. Clearing services for GreenEx will be provided by CME Clearing House. Regulatory services for GreenEx will also be provided by CME.
Source: CFTC.gov
New Lithium ETF Powers the Green Movement
July 23, 2010--July 23, 2010 - Global X Funds, the New York-based provider of exchange-traded funds, launched today the world’s first Lithium ETF (NYSE Arca: LIT). This is the first ETF to offer investors targeted access to a resource industry critical for the renewable energy and green movement.
“The Global X Lithium ETF is an efficient way to invest in what we refer to as a “green” commodity because of its direct correlation to the renewable energy market such as electric cars and energy storage,” said Bruno del Ama, CEO of Global X Funds.
The ETF tracks the Solactive Global Lithium Index, which is designed to reflect performance of the largest and most liquid lithium battery producing and mining and refining companies in the world. As of July 13, 2010, the three largest components of the ETF are lithium producers SQM from Chile, and FMC Corporation and Rockwood Holdings from the US.
The basket of lithium-related equities will give investors access to the complete lithium value chain, from mining and refining through lithium battery production. As of July 13, 2010, 51% of the index includes lithium battery manufacturers, while 49% of the index consists of lithium mining and refining companies.
“Lithium is the lightest metal” said Jose C. Gonzalez, COO of Global X Funds. “When processed it has the capacity to store electric energy more efficiently than any other material. Efficient electric energy storage is necessary for all green energy products and the computer systems that control them – like electric cars, solar, wind and water power.”
Source: Global X
Global X Funds Lists Global X Lithium ETF on NYSE Arca
July 23, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the Global X Lithium ETF (Ticker: LIT). The ETF is sponsored by Global X Funds.
The fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Lithium Index, which is designed to reflect the performance of the lithium industry. It is comprised of common stocks, American Depositary Receipts and Global Depository Receipts of selected companies globally that are primarily engaged in some aspect of the lithium industry, such as lithium mining, exploration, investing and lithium-ion battery production. The stocks are screened for liquidity and weighted according to free-float market capitalization. A specific capping methodology is applied at the semi-annual index review to facilitate compliance with the rules governing the listing of financial products on exchanges in the United States. The index is maintained by Structured Solutions AG.
Source: NYSE Arca
CFTC.gov Commitments of Traders Reports Update
July 23, 2010--The CFTC.gov Commitments of Traders Reports Update for the week of July 20, 2010 are now available.
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Source: CFTC.gov
Van Eck Associates Corporation Lists Market Vectors Emerging Markets Local Currency Bond ETF on NYSE Arca
July 23, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the Market Vectors Emerging Markets Local Currency Bond ETF (Ticker: EMLC). The ETF is sponsored by Van Eck Associates Corporation.
Market Vectors Emerging Markets Local Currency Bond ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the J.P. Morgan Government Bond Index - Emerging Markets Global Core, which is designed to track the performance of bonds issued by emerging market governments and denominated in the local currency of the issuer.
Source: NYSE Arca