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NYSE Technologies Adds Knight Capital Group as SFTI Destination
May 20, 2010--NYSE Technologies, the commercial technology unit of NYSE Euronext, today announced that it has established Knight Capital Group as a destination on the Secure Financial Transaction Infrastructure (SFTI) network. As one of the industry’s fastest, most resilient electronic message transmission networks, SFTI provides customers with superior reliability and access to the financial markets and market participants through a single point of access. SFTI customers can now access Knight’s electronic trading products and services from the same connections they currently use to access NYSE Euronext markets, other exchanges and brokers.
“Knight provides a valuable new destination and resource for our customers and we’re proud to include them on the SFTI network,” said Ken Barnes, Vice President, NYSE Technologies. “With each exchange and broker dealer destination we add to SFTI and our FIX Marketplace, we’re building a platform that offers a combination of speed and reach coupled with a unique capital markets focus seldom found in the industry. Customers are increasingly turning to SFTI to satisfy their connectivity requirements across the capital markets through SFTI’s 10Gb ports, which simplify manageability and reduce latency.”
Knight is a leading source of U.S. equity liquidity by share volume in Listed, NASDAQ, Bulletin Board and ETF securities among securities firms, according to AutEx, and has growing volume in foreign exchange, fixed income, futures and options. The SFTI network now includes Knight’s electronic market-making, Knight Link access to equity liquidity, Knight Direct multi-asset class EMS and agency-only algorithms, the Knight Match dark pool, the HotSpot FX ECN and Knight BondPoint’s fixed income ECN. “Knight is pleased to open our products to the wide breadth of NYSE Technologies clients over the reliable and resilient SFTI network,” said Meaghan Mullins, Managing Director, Knight. “We are committed to providing as many points as possible for market participants to access Knight’s liquidity, and our establishment as a destination on the SFTI network furthers our goal.”
NYSE Technologies’ SFTI network is the highly resilient, ultra low-latency communications backbone created for the financial industry in 2002. It provides connectivity to multiple exchanges, market centers and content service providers, including all of the National Market System venues in the U.S. SFTI also connects to over 1,300 market participants and offers third-party technology products through its unique hosted solutions platform. Designed to be the industry’s most secure and resilient network, SFTI is specifically built for electronic trading and market data traffic thus enabling firms to reduce their time-to-market, improve their performance and significantly lower the cost of their trading infrastructure.
Source: NYSE Euronext
NASDAQ OMX Applauds SEC Leadership in Stock-by-Stock Circuit Breaker Initiative
May 20, 2010--The NASDAQ OMX Group (Nasdaq:NDAQ) today applauded the U.S. Securities and Exchange Commission (SEC) for its leadership in connection with the submission of stock-by-stock circuit breaker proposals by the equity markets.
Those proposals provide uniform market-wide standards for pausing trading in individual securities in the S&P 500® Index that experience a rapid price movement. Furthermore, we commend the SEC and CFTC for publishing their preliminary findings concerning market events of May 6. NASDAQ OMX supports adoption of market-wide practices and supports the SEC and the CFTC with their ongoing review.
NASDAQ OMX is committed to continuing working with other U.S. markets and the SEC to examine and respond to the causes of the May 6 market event.
Source: NASDAQ OMX
CFTC Reestablishes Technology Advisory Committee
May 20, 2010--The Commodity Futures Trading Commission (CFTC) yesterday approved the reestablishment of a Technology Advisory Committee (TAC), which is charged with keeping the Commission abreast of new technologies that will assist the independent federal agency to better oversee the derivatives markets. Commissioner Scott D. O’Malia, the newest Commissioner, confirmed last October, was selected to serve as Chairman of TAC for its two-year term.
“The market events of May 6th clearly highlight that technology drives the structure and function of the markets. Trades now take place in milliseconds and will soon take place even faster. We must develop a deep understanding of technological innovation and what it means for the markets we oversee. Therefore, I am pleased that the Commission has agreed to my request to reinstate this Committee,” stated O’Malia, who has pushed for the creation of the Committee since his appointment.
The Commission’s original TAC ceased operation when its, chapter expired in 2005. Since that time, technology has become increasingly important to participants in the derivatives markets—by providing participants with market information, trade modeling, trade execution, risk management and back office support.
read more
Source: CFTC.gov
KBW Announces Change to KBW Regional Banking Index (KRX)
May 19, 2010--Keefe, Bruyette & Woods, Inc., a full-service investment bank that specializes in the financial services sector, and a wholly owned subsidiary of KBW, Inc., announces an upcoming change to the KBW Regional Banking Index.
Effective prior to the opening of business on Monday, May 24, 2010, FirstMerit Corporation /quotes/comstock/15*!fmer/quotes/nls/fmer (FMER 19.25, +0.25, +1.33%) , will undergo an increase in shares to account for its recent equity issuance.
The KBW indices that have tradable exchange traded funds are: KBW Bank Index (Index Symbol: BKX(SM), ETF Symbol KBE(SM)); KBW Capital Markets Index (Index Symbol: KSX(SM), ETF Symbol KCE(SM)); KBW Insurance Index (Index Symbol: KIX(SM), ETF Symbol KIE(SM)); KBW Mortgage Finance Index (Index Symbol: MFX(SM), ETF Symbol: KME(SM)), and KBW Regional Banking Index (Index Symbol: KRX(SM), ETF Symbol: KRE(SM), KRS(SM), KRU(SM)).
Source: KBW
ETF Securities Passes $1.5 Billion in US ETF Assets Under Management
ETFS Physical Platinum Shares (PPLT) AUM now stands at $598.3M (as of May 4th, 2010)
ETFS Physical Swiss Gold Shares (SGOL) AUM now stands at $402.0M (as of May 4th, 2010)
May 19, 2010--ETF Securities USA LLC (ETFS) announced today that the total assets under management of its four products; ETFS Physical Swiss Gold Shares (SGOL), ETFS Physical Silver Shares (SIVR), ETFS Physical Platinum Shares (PPLT) and ETFS Physical Palladium Shares (PALL) now exceeds $1.5 Billion as of May 4th, 2010.
ETF Securities is the first US ETF Sponsor to provide investors with access to a full suite of precious metal ETFs. Investors can now trade physically-backed Gold, Silver, Platinum and Palladium ETFs from the same provider. The four precious metal ETFs have the following key features:
Track spot price of underlying metal less associated management fees(1)
100% physically backed by underlying bullion – minimal counterparty risk
Gold vaulted in Switzerland
Silver, Platinum & Palladium vaulted in London and Switzerland
a href="http://www.etfsecurities.com/us/news/etfs_news_100519.asp" TARGET="_top">read more
Source: ETF Securities
Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices
May 19, 2010--Standard & Poor's Canadian Index Operations announces the following index changes:
* On May 18, 2010, Sears Canada Inc. (TSX:SCC) announced the payment of a special dividend of $3.50 per share. The ex-date for this payment is Thursday, May 27, 2010. It is anticipated that the value of the special dividend will be over 4% of the last traded board-lot price of Sears Canada on Wednesday, May 26, 2010.
* On that date, the last traded board-lot price of Sears Canada will be reduced by $3.50 and the divisors will be adjusted in the S&P/TSX Composite and Capped Composite, the S&P/TSX Completion and Equity Completion, the S&P/TSX Equity and Capped Equity and the S&P/TSX Capped Consumer Discretionary Indices.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poors
DB Index Research -- Weekly ETP Market Review -- US
May 19, 2010--Highlights
Although ambiguity still dominates the global markets due to the uncertain fate of Greece, Spain, Portugal and the Euro, it seems that the 750 Euro billion rescue package offered by Euro leaders brought some relief to the global markets. US ETPs, in particular, experienced an increase in assets of $29 bn, mainly driven by market reversal (the S&P 500 ended the week 2.23% up) and inflows of $10 bn.
New Listings and Delistings
* Two new funds came to market on the previous week, both of which are listed in NYSE Arca. State Street GA launched a fixed income ETF focused on municipal bonds compliant with the Build America Program, while new entrant provider US One Inc. issued an active ETF of ETFs seeking long term performance at a low cost.
Net Cashflows
* Equity, Fixed Income and Commodity ETPs had inflows of $8 bn, $636 mm, and $1.1 bn, respectively. Currency ETPs, on the other hand, experienced outflows of $40 mm.
* In the Equity asset class, Large Cap ETPs had the highest inflows of $5.3 bn followed by Small Cap ETPs, while Emerging Country ETPs experienced the largest outflows of $570 mm.
* Sovereign products contributed the most to the positive cash flows into Fixed Income ETPs.
* Within Commodity ETPs, Gold ETPs became the investor’s preferred choice again, recording inflows of $1.1 bn, followed by Crude Oil ETPs. Meanwhile, Natural Gas ETPs experienced the largest outflows.
* Alternative ETPs, driven by volatility ETNs, saw outflows of $234 mm, which strengthen the idea that high volatility might just be an ephemeral episode.
Turnover
* Turnover remained strong in all asset classes and increased by 11.4% overall, crossing the $100 billion mark totaling $104 bn in average daily value traded.
Assets Under Management (AUM)
* US ETPs AUM recovered 3.6% totaling $830 bn at the end of the week. Equity ETPs account for 74% of the assets with $612 bn, followed by Fixed Income funds with $127 bn and 15% of market share.
To request a copy of the report
Source: Aram Flores and Shan Lan -DB Index Research
Pax World Lists ESG Shares® North America Sustainability Index ETF on NYSE Arca
May 19, 2010--NYSE Euronext (NYX) announced that its wholly owned subsidiary, NYSE Arca, began trading the ESG Shares® North America Sustainability Index ETF (Ticker: NASI). The ETF is advised by Pax World Management LLC.
The Fund seeks investment returns that closely correspond to the price and yield performance, before fees and expenses, of the FTSE KLD North America SustainabilitySM Index, which is created and maintained by KLD Research & Analytics, Inc. (“KLD”). The Index consists of equity securities of issuers in North America that meet specific environmental, social and governance criteria developed by KLD.
Source: NYSE Euronext
PowerShares files with the SEC
May 19, 2010--PowerShares has filed a prospectus with the SEC for
PowerShares International Corporate Bond Portfolio
(NYSE Arca, Inc. - PICB)
The Fund seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of the index called the S&P International Corporate Bond Index.
Total Annual Fund Operating Expenses:0.50%
view filing
Source: SEC.gov
State Street files with the SEC
May 19, 2010--State Street has filed a post-effective, registration statement with the SEC for
SPDR Barclays Capital International Corporate Bond ETF (IBND)
read more
Source: SEC.gov