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EGA Emerging Global Shares Trust files with SEC
May 28, 2010--EGA Emerging Global Shares Trust has filed a post-effective amendment, registration statement with the SEC for the following
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Cusip
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NYSE
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Emerging Global Shares Dow Jones Emerging Markets Titans Composite Index Fund
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268461100
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EEG
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Emerging Global Shares Dow Jones Emerging Markets Basic Materials Titans Index Fund
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268461209
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EBM
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Emerging Global Shares Dow Jones Emerging Markets Metals & Mining Titans Index Fund
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268461852
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EMT
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Emerging Global Shares Dow Jones Emerging Markets Consumer Goods Titans Index Fund
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268461308
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ECG
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Emerging Global Shares Dow Jones Emerging Markets Consumer Services Titans Index Fund
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268461407
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ECN
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Emerging Global Shares Dow Jones Emerging Markets Consumer Titans Index Fund
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268461779
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ECON
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Emerging Global Shares Dow Jones Emerging Markets Energy Titans Index Fund
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268461860
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EEO
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Emerging Global Shares Dow Jones Emerging Markets Financials Titans Index Fund
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268461506
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EFN
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Emerging Global Shares Dow Jones Emerging Markets Health Care Titans Index Fund
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268461605
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EHK
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Emerging Global Shares Dow Jones Emerging Markets Industrials Titans Index Fund
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268461704
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EID
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Emerging Global Shares Dow Jones Emerging Markets Technology Titans Index Fund
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268461803
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ETX
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Emerging Global Shares Dow Jones Emerging Markets Telecom Titans Index Fund
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268461886
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ETS
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Emerging Global Shares Dow Jones Emerging Markets Utilities Titans Index Fund
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268461878
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EUT
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view filing
Source: SEC.gov
NYSE Euronext U.S. Options Markets to Trade Options on Volatility Index (VIX) Notes and Other Index Linked Securities. -Options on 9 ETNs, Including iPATH VXX and VXZ S&P Futures ETNs Began Trading Today
Options on 9 ETNs, Including iPATH VXX and VXZ S&P Futures ETNs Began Trading Today
May 28, 2010--NYSE Euronext today announced that trading of options on Index Linked Securities, also known as Exchange Traded Notes (ETNs), including options on the actively traded iPATH S&P 500 VIX Short-Term Futures ETN (VXX) and iPATH S&P 500 VIX Mid-Term Futures ETN (VXZ) are now available on both its NYSE Arca and NYSE Amex options platforms.
The products, which have primary listings on NYSE Arca’s equity exchange, began trading today, Friday, May 28, 2010 on both of NYSE Euronext’s U.S. options exchanges.
In addition to options on the two iPath VIX Futures ETNs, NYSE Amex is also listing options on the iPath Goldman Sachs Crude Oil Total Return Index ETN (OIL) and NYSE Arca will be trading options in 6 other ETNs. ETNs underlying options to be traded on Friday and the listing market are:
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Product Name |
Options Available on: |
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iPATH S&P 500 VIX Short-Term Futures ETN (NYSE Arca: VXX) |
NYSE Amex/NYSE Arca |
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iPATH S&P 500 VIX Mid-Term Futures ETN (NYSE Arca: VXZ) |
NYSE Amex/NYSE Arca |
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iPath Goldman Sachs Crude Oil Total Return Index ETN (NYSE Arca: OIL) |
NYSE Amex |
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JPMorgan Alerian MLP Index ETN (NYSE Arca: AMJ) |
NYSE Arca |
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iPath Dow Jones - UBS Natural Gas Total Return Sub-Index ETN (NYSE Arca: GAZ) |
NYSE Arca |
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iPath Dow Jones - UBS Copper Total Return Sub-Index ETN (NYSE Arca: JJC) |
NYSE Arca |
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Credit Suisse Cushing 30 MLP Index ETN (NYSE Arca: MLPN) |
NYSE Arca |
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ELEMENTS Linked to the |
NYSE Arca |
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ELEMENTS Linked to the |
NYSE Arca |
NYSE Euronext's U.S. options exchanges, NYSE Arca and NYSE Amex utilize state-of-the-art open outcry trading facilities with an advanced electronic trading platform capable of processing 400,000 orders and 3,500,000 quotes per second with 2 millisecond acknowledgment (ACK) times.
Source: NYSE Euronext
SEC Announces Agenda and Panelists for Market Structure Roundtable
May 28, 2010--The Securities and Exchange Commission today announced the agenda and panelists for its June 2 public roundtable to examine securities market structure issues.
The roundtable will feature in-depth discussions of key market structure issues, including high-frequency trading, undisplayed liquidity and the appropriate metrics for evaluating market structure performance. Panelists include representatives of retail and institutional investors, issuers, exchanges, alternative trading systems, financial services firms, high frequency traders, and the academic community.
"The roundtable is part of an ongoing Commission effort we initiated last summer to review the structure of our markets and ensure that they are fair, transparent and efficient," said SEC Chairman Mary L. Schapiro, who announced the roundtable last month.
The Commission already has proposed rules that would:
Establish a consolidated audit trail system to help regulators keep pace with new technology and trading patterns in the markets. Generally require that information about an investor's interest in buying or selling a stock be made available to the public, instead of just to a select group operating with a dark pool. Effectively prohibit broker-dealers from providing their customers with unfiltered access to exchanges and alternative trading systems and ensure that broker-dealers implement appropriate risk controls. Create a large trader reporting system to enhance the Commission's ability to identify large market participants, collect information on their trades, and analyze their trading activity. The Commission in January also issued a concept release to solicit public comment on a wide variety of market structure topics. The release and comments received are available at http://www.sec.gov/rules/ concept.shtml.
The June 2 roundtable will be held at 9:30 a.m. in the auditorium at the SEC headquarters at 100 F Street N.E., Washington, D.C. The public is invited to observe the discussion, and seating will be available on a first-come, first-served basis. Reasonable accommodations for persons with disabilities attending this event in person can be arranged by submitting a request to DisabilityProgramOfficer@SEC.gov at least three business days prior to the event. The event will be webcast live at www.sec.gov and will be archived for later viewing.
The Commission will accept public comments about issues being addressed at the roundtable until June 23, 2010. Submit comments
For additional information about the roundtable, contact the SEC's Division of Trading and Markets at (202) 551-5676.
Source: SEC.gov
ETF Securities Approved to Sell More Platinum, Palladium Shares
May 28, 2010--ETF Securities Ltd. has received government approval to double the number of shares offered in its exchange-traded products backed by holdings of platinum and palladium.
The U.S. Securities and Exchange Commission on May 26 approved the company’s request to increase the platinum product’s share offering by 6.44 million to 11.22 million, according to government filings. The palladium product was approved to offer an additional 5.92 million shares, creating a total of 18.8 million, according to a separate filing.
“We’ve seen strong demand because we are unique in the U.S. market,” said William Rhind, the strategic director of business development in the U.S. for ETF Securities. “If anyone wants to invest in platinum or palladium, this is a way for the investors to access the underyling market.”
read more
Source: Business Week
Alps files with SEC
May 28, 2010--Alps has filed a registration statement with the SEC for
NYSE Arca U.S. Equity Synthetic Reverse Convertible Index Fund - RVCT
Investment Objective
The NYSE Arca U.S. Equity Synthetic Reverse Convertible Index Fund (the “Fund”) seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an index called the NYSE Arca U.S. Equity Synthetic Reverse Convertible Index (the “Index”).
Total annual Fund operating expenses:0.95%.
view filing
Source: SEC.gov
Study Shows 60% of High-Net-Worth Investors Believe Advisors Can Help Them Navigate Difficult Markets, but Advisors May Still Not Be Addressing All of Their Needs and Concerns
May 27, 2010---- BlackRock, Inc. (NYSE: BLK) recently released a study conducted by its iShares exchange traded fund business in Canada that showed the majority of high-net-worth (HNW)(1) investors rely on their investment advisors to help manage risk and provide counsel on investment products they have not considered. However, the results show that advisors can do a better job of keeping clients informed of their financial situation and make recommendations of suitable investment products. The survey offers a rare insight into a niche audience of wealthy Canadian investors, one that normally represents only a small subgroup in surveys of the general population.
iShares Canada's recent High-Net-Worth Investor survey found:
-- 75 per cent of HNW investors agree this is a time of great opportunity in the markets. Yet 56 per cent are still unsure of where to place their money and nearly 64 per cent are re-evaluating their portfolio mix-even though the vast majority of respondents use the services of an investment advisor in at least some capacity. Seventy-six per cent of HNW investors said they turned to advisors for at least some advice or decision-making, while another 11 per cent retain advisors or brokers to effect transactions.
-- More than 80 per cent of respondents felt it was important that advisors or financial planners give consideration to their clients' financial well-being and put their interests first.
-- While 66 per cent of HNW investors are very confident when it comes to decisions around investing for retirement, only 53 per cent were as confident picking between stocks and funds.
Familiarity with ETFs
More than half-or 58 per cent-of HNW investors believe it would be very important to get advice on exchange traded funds (ETFs) from advisors. The survey also showed:
-- The majority of HNW investors who are familiar with ETFs are very positive about them relative to mutual funds in a number of areas, including transparency, rate of return, preservation of capital and lower management fees: 71 per cent of this group believe they offer an advantage over mutual funds at preserving capital and 70 per cent say that ETFs provide a significantly better rate of return than mutual funds.
-- However, only 27 per cent of respondents say their advisor, broker or financial planner has recommended they buy an ETF and 71 per cent of respondents aged 65+ were unfamiliar with ETFs. Only 12 per cent of respondents have ETFs in their portfolios; 75 per cent of respondents said mutual funds make up a large part of their portfolio, and 71 per cent say stocks also make up a large share of their investments.
-- Nearly half of respondents (48 per cent) who said they own mutual funds believed that their mutual funds did not charge fees in the form of management expense ratios, while 9 per cent were unsure.
"The track record speaks for itself: investors are enthusiastic about ETFs and consider them a good investment. Yet it's unfortunate that such a small number of advisors recommend these products given the positive feedback we received from investors," said Heather Pelant, Managing Director, head of iShares at BlackRock Asset Management Canada Limited.
"Investors look to their advisor to serve as the level-headed counsellor who provides information on investing trends and unique solutions. Advisors have the opportunity to engage in these discussions to maximize client satisfaction."
The younger you are, the more concerned you are about value
While nearly 80 per cent of respondents were satisfied with their advisor, that satisfaction wasn't shared by younger respondents: 63 per cent of HNW investors under age 35 felt it was not worth paying advisors for advice, compared to 26 per cent of those over 35 years old. Conflict of interest is a real concern for all respondents, with 63 per cent believing advisors had a conflict of interest depending on who they worked for.
The survey also found that 61 per cent of HNW investors under 35 years of age felt that advisors provide no better information or advice than can be found on the Internet for free. This statistic drops to almost one-third for respondents 35 and over.
"We're seeing a direct correlation with younger investors and their likelihood of making independent investment decisions and adopting new ways of investing that offer greater returns, such as ETFs, which have been proven to show better performance than actively managed funds," said Heather Pelant.
"As these investors age and increase their assets, it will become more important for advisors to make in-roads with this demographic. Advisors can elevate the conversation by coupling one-on-one counsel with sound recommendations of suitable products and solutions such as ETFs, to give them an edge that self-directed online accounts cannot offer. The better an advisor can convince his clients that he has their best interests at heart, the more likely he is able to demonstrate value."
About the 2010 iShares High-Net-Worth Investors survey
The 2010 HNW investors study was based on an online survey conducted between March 16 and March 29, 2010 by The Gandalf Group, of 500 Canadians across the country who qualified as high-net-worth investors. Canadians who qualified as high-net-worth investors were those who said they owned at least $500,000 in investments not including their homes or workplace or employer-sponsored pensions. The Gandalf Group surveyed a representative sample of the Canadian adult population online, proportionate to age, region and gender in order to identify this sample of high-net-worth investors.
For more information about the new iShares funds, please visit www.iShares.ca. All other inquiries: 1-866-iShares (1-866-474-2737) or email iSharesCanada@blackrock.com.
Source: BlackRock, iShares
Invesco PowerShares to list International Corporate Bond Portfolio on the NYSE Arca on June 3rd-Media Advisory
What: PowerShares International Corporate Bond Portfolio (PICB)
Who: Executive interviews
• Benjamin Fulton, Managing Director of ETFs, Invesco PowerShares
• Ed McRedmond, Senior Vice President Institutional and Portfolio Strategies, Invesco PowerShares
Where: Telephone Interviews
When: May 27 - June 3, 2010
Topics:
1. PowerShares International Corporate Bond Portfolio (PICB)
· PICB offers broad exposure to investment-grade corporate bonds issued solely in developed markets outside of the U.S. in a single trade
2. Why foreign bonds?
· Low Correlation to major asset classes
·Foreign currency exposure
3. What’s next for ETFs in 2010?
For media interviews please contact Bill Conboy or Dustin Weeden at 303-415-2290, bill@bccapitalpartners.com or dustin@bccapitalpartners.com.
The PowerShares International Corporate Bond Portfolio (PICB) seeks results that correspond (before fees and expenses) generally to the price and yield performance of the S&P International Corporate Bond Index. The index measures the performance of investment grade corporate bonds issued by non-U.S. issuers in the following G-10 currencies: Australian dollar, Euro, New Zealand dollar, Norwegian krone, Canadian dollar, British pound, Japanese yen, Danish krone, Swiss franc, and Swedish krona. For inclusion in the index, each bond must be rated investment grade by Standard & Poor’s or Moody’s Investors Service, Inc. The lowest of the two ratings is used to determine eligibility. Each bond must also have a minimum amount outstanding, respective to the currency in which it is issued.
The index uses a modified market capitalization weighted methodology. The weight of each bond in the index is based on its outstanding market value, but the aggregate weight of the bonds in a single currency may not exceed 50%. The index is reconstituted and rebalanced monthly. For additional information please visit http://www.invescopowershares.com/icb/.
To arrange media interviews please contact Bill Conboy or Dustin Weeden at 303-415-2290, bill@bccapitalpartners.com, or dustin@bccapitalpartners.com.
Source: Invesco PowerShares Capital Management LLC
Jeff Heslop Named SEC Chief Operating Officer
May 27, 2010--The Securities and Exchange Commission today announced that Jeff Heslop has been named the agency's first-ever Chief Operating Officer (COO) for information technology, financial reporting, and records management.
Mr. Heslop comes to the SEC from Capital One Financial Corporation, where he was responsible for the company's information and resiliency risk management. As Managing Vice President for Information Risk Management, Mr. Heslop developed and implemented risk policies, standards and practices, and internal controls.
"The creation of the Chief Operating Officer position will enhance our ongoing effort to refocus our resources and make this agency more efficient and effective," said SEC Chairman Mary L. Schapiro. "Jeff brings a great depth of private sector experience with technology development and management assessment, and he has developed the expertise necessary to ensure seamless oversight of our wide-ranging technology improvements and other operational functions of the agency."
Mr. Heslop added, "I'm honored to be selected for the position by Chairman Schapiro. She has crafted a compelling vision to revitalize the agency, and I am very excited about the opportunity to work with her and my colleagues on the SEC staff to help realize that goal." May 2010 “Market’s Measure” Preliminary Report - A Monthly Report From Dow Jones Indexes On The Performance Of U.S., European, Asia And Other Global Stock Market Indexes
MAY 2010 Sector Winners and Losers
* In the U.S., the Dow Jones U.S. Telecommunications Index posted the narrowest loss in May, down 6.28% loss. The Dow Jones U.S Oil and Gas Index posted the biggest loss, dropping 13.93%.
read more Goldman Seeks to Settle With Lesser Charge
Negotiating a lesser charge in fraud cases is not an unusual procedure — it would reduce the risk of Goldman’s being involved in a lawsuit with its investors and avoid the further damage that settling a fraud charge would do to the reputation of the bank, The FT said.
read more
Source: SEC.gov
May 27, 2010-- * Dow Jones Industrial Average Posts 9.39% Loss in May, European Stocks Lose 16.06%, Asia Falls 13.23% and World Equities Fall by 12.38%
Utilities Sector Posts Narrowest Loss for May in Asia
Financials Sector Takes the Hardest Hit for May in Europe
As of May 26 the Dow Jones Industrial Average fell 9.39% in May, closing at 9,974.45. Stock market indexes in Europe, Asia and globally, were down in May, according to preliminary monthly figures from global index providers, Dow Jones Indexes.
The Dow Jones Industrial Average fell 9.39% in May, closing at 9,974.45. Year-to-date, the index is down 4.35%.
* The Dow Jones Europe Index fell 16.06% in May to 211.33. So far this year, the index is down 20.03%
* The Dow Jones Asian Titans 50 Index fell 13.23% in May to 119.95. So far this year, the index is down 10.66%
* The Dow Jones Global Titans 50 Index fell 12.38% in May, closing at 150.14. Year-to-date, the index is down 13.54%.
* In Europe, the Dow Jones Europe Consumer Goods Index posted the narrowest loss in May, down 12.24%. The Dow Jones Europe Financials Index had the sharpest decline, dropping 18.45%.
* In Asia, the Dow Jones Asia/Pacific Utilities Index posted the narrowest loss in May, down 4.55%. The Dow Jones Asia/Pacific Basic Materials Index posted the biggest loss, down 15.87%.
* Globally, the Dow Jones World Travel and Leisure Titans Index had the narrowest loss in May, down 8.31% loss. The Dow Jones World Construction and Materials Titans Index posted the biggest loss, dropping 17.76%.
Source: Mondovisione
May 27, 2010--Goldman Sachs is looking to avoid a charge of fraud from the Securities and Exchange Commission by coming to a settlement over a lesser offense, The Financial Times reported, citing people familiar with the bank’s negotiating position
The move would mean Goldman accepting a fine of hundreds of millions of dollars, but would aim to cap the furor that has dogged the bank since the Abacus scandal broke.
Source: NY Times