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TXF Funds file with SEC
April 30, 2010--TXF Funds has filed a post-effective, registration statement with the SEC for
TXF Large Companies ETF (TXF; NYSE Arca)
Investment Objective
TXF Large Companies ETF seeks investment results that correspond, before fees and expenses, to the price and yield performance of the equity index called the SPADE® Texas Index.The Fund, using an “indexing” investment approach, attempts to replicate, before fees and expenses, the performance of the Fund’s Underlying Index.
TOTAL ANNUAL FUND OPERATING EXPENSES: 0.20%
view filing
Source: SEC.gov
Shoppers drive US recovery
April 30, 2010--US consumers drove the country’s nascent economic recovery in the first quarter, accounting for the bulk of a 3.2 per cent annualised increase in output during the period.
The pace of growth was slightly below forecasts, and slower than the 5.6 per cent rate in the fourth quarter of last year, but the report from the commerce department indicated that the US remains on track for a moderate recovery.
FINRA Proposes Expanding Arbitrator Selection Lists Lists of available arbitrators for cases involving less than $100,000, which are heard by a single, chair-qualified public arbitrator, would also expand from eight to 10 names. The proposed expansion, made in a recent rule filing with the Securities and Exchange Commission (SEC), is designed to increase the likelihood that all arbitrators appointed to a case will have been selected by the parties.
Currently, under FINRA's Code of Arbitration Procedure, parties are sent lists of available arbitrators, along with detailed biographical information on each arbitrator. In a three-arbitrator case, the parties receive three lists of eight arbitrators each – one public, one public chair-qualified and one non-public. Each party is permitted to strike up to four of the eight names on each list and ranks the remaining names in order of preference. FINRA appoints the panel from among the names remaining on the lists that the parties return. When there are no names remaining on a list, or when a mutually acceptable arbitrator is unable to serve, a random selection is made to "extend the list" by generating names of additional arbitrators to complete the panel. Parties may only challenge extended list arbitrators for cause. While the proposed change would increase the number of arbitrators on each list by two, the number of available strikes would remain at four per party. If the SEC approves the new procedure, it would ensure that at least two proposed arbitrators will remain on each list of 10 potential arbitrators – thus significantly increasing the likelihood that the parties will get panelists they chose and rank, as opposed to extended list appointments. It would also reduce the need for extended list appointments when vacancies occur in a panel later in a case. Prior to 2007, the arbitration code allowed the parties unlimited strikes of proposed arbitrators on lists. This often resulted in parties collectively striking all the arbitrators on the list. In April 2007, FINRA implemented a change that limited the number of strikes each party may exercise to four, in an effort to reduce the frequency of extended list appointments. Treasury International Capital System Report on Foreign Holdings of U.S. Securities at End-June 2009 Overall Results
view report U.S. Department of the Treasury Economic Statistics - Quarterly Data Update SEC Probes 'Side Pocket' Arrangements . read more CME Group Inc. Reports Solid First-Quarter 2010 Financial Results
"CME Group's discipline and focus helped deliver a strong quarter, and we see ongoing opportunities domestically and internationally to improve on this performance," said CME Group Executive Chairman Terry Duffy. "First-quarter operating income of $415 million and earnings per share of $3.62 were the best quarterly results since 2008. With volume, liquidity and depth of book improving across asset classes, CME Group is poised to continue to serve our customers worldwide and deliver sustainable financial results." read more Four ProShares Ultra ETFs List on NYSE Arca
ProShares Ultra MSCI Pacific ex-Japan
ProShares Ultra MSCI Europe
ProShares Ultra MSCI Mexico Investable Market
Each of the funds seeks a 200% return, of their respective indexes for a single day. Due to the compounding of daily returns, returns over periods other than one day will likely differ in amount and possibly direction from the target returns for the same period. Investors should monitor their holdings consistent with their strategies, as frequently as daily. The funds’ prospectuses describing correlation, leverage and other risks are available at www.proshares.com. PowerShares files with the SEC view filing
Source: FT.com
Change Would Reduce "Extended List" Arbitrator Appointments
April 30, 2010--The Financial Industry Regulatory Authority (FINRA) today said it intends to increase the number of arbitrators available for selection when parties pick arbitration panels, to 10 from the current eight, for each type of arbitrator on a three-member panel – public chair-qualified, public and non-public.
"With a larger pool of arbitrators to select from, parties will be able to present cases before arbitrators they helped choose," said Linda Fienberg, President of FINRA Dispute Resolution. "Adding two names to each list will give parties in most cases the panelists they have selected rather than an arbitrator randomly selected by a computer."
Source: FINRA
April 30, 2010--Securities (a), U.S. Transactions with Foreigners
in Long-Term Securities report has been updated.
view report
Source: U.S. Department of the Treasury.
April 30, 2010--The U.S. Department of the Treasury today released the final results from the survey of foreign portfolio holdings of U.S. securities at end-June 2009
. The annual survey was undertaken jointly by the U.S. Treasury, the Federal Reserve Bank of New York and the Board of Governors of the Federal Reserve System. The next survey will be for end-June 2010, and preliminary data are expected to be released by February 28, 2011.
Complementary surveys measuring U.S. holdings of foreign securities are also carried out annually. Data from the most recent survey, reporting on securities held on year-end 2009, are currently being processed. Preliminary results are expected to be reported by August 31, 2010.
The survey measured foreign holdings of U.S. securities as of June 30, 2009, to be $9,641 billion, with $2,252 billion held in U.S. equities, $6,240 billion in U.S. long-term debt securities1 (of which $1,260 billion are holdings of asset-backed securities (ABS) 2 and $4,979 billion are holdings of non-ABS securities) and $1,149 billion held in U.S. short-term debt securities. The previous survey, conducted as of June 30, 2008, measured foreign holdings to be $10,322 billion, with $2,969 billion in U.S. equities, $6,494 billion in U.S. long-term debt securities, and $858 billion in short-term U.S. debt securities .
Source: U.S. Department of the Treasury
April 30, 2010--Economic Statistics - Quarterly Data for U.S. Department of the Treasury. This information has recently been updated, and is now available.
view report
Source: U.S. Department of the Treasury
April 29, 2010--Federal regulators are examining whether hedge-fund managers abused tools known as "side pockets" that helped prevent clients from withdrawing billions of dollars of assets during the financial crisis.
The issue is one of several investigative priorities recently set by a newly organized Securities and Exchange Commission enforcement unit focused on ferreting out misbehavior by private-equity funds, hedge funds and other asset managers.
he group, run by co-chiefs Rob Kaplan and Bruce Karpati, held its first full staff meeting this week. Some 60 attorneys are assigned to the unit across nine offices, said people familiar with the matter. The unit is delving into a number of issues surrounding hedge funds and asset managers, including whether the funds are assigning fair values to assets and accurately disclosing information about investment strategies, assets and performance to investors.
Source: WSJonline.com
April 29, 2010--CME Group Inc. (Nasdaq: CME) today reported that first-quarter total revenues increased 7 percent to $693 million and operating income increased 7 percent to $415 million from the year-ago period. First-quarter 2010 operating margin was 60 percent, in line with first-quarter 2009. Operating margin is defined as operating income as a percentage of total revenues.
First-quarter net income was $240 million and diluted earnings per share were $3.62, both up 21 percent from the same period last year. First-quarter 2010 results included $6 million in non-operating income for the recovery of a bankruptcy claim and a $6 million reduction in certain tax reserves, offset primarily by $10 million of professional fees related to the company's joint venture with Dow Jones. These three items increased net income by $2 million. First-quarter 2010 figures include the results of Dow Jones Indexes beginning March 19, 2010.
Source: CME Group
April 29, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the ProShares Ultra MSCI Brazil (Ticker: UBR), the ProShares Ultra MSCI Pacific Ex-Japan (Ticker: UXJ), theProShares Ultra MSCI Europe (Ticker: UPV), and the ProShares Ultra MSCI Mexico Investable Market (Ticker: UMX )ETFs. The ETFs are sponsored by ProShares.
ProShares Ultra MSCI Brazil
The Fund seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the MSCI Brazil Index® , which is a free-float-adjusted market capitalization-weighted index that is designed to measure the equity market performance by targeting approximately 85% of the Brazilian market.
The Fund seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the MSCI Pacific ex-Japan Index® , which is a free-float-adjusted market capitalization-weighted index that is designed to measure the equity market performance of the developed markets in the eastern Pacific region, excluding Japan .
The Fund seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the MSCI Europe Index® , which is a free float-adjusted market capitalization-weighted index that is designed to measure the equity market performance of the developed markets in Europe .
The Fund seeks daily investment results, before fees and expenses, that correspond to twice (200%) of the daily performance of the MSCI Mexico Investable Market Index® , which is a free-float-adjusted market capitalization-weighted index that is designed to measure the equity market performance of the Mexican equity market by capturing 99% of the (publicly available) total market capitalization.
Source: NYSE Arca
April 29, 2010--PowerShares has filed a post-effective amendment, registration statement with the SEC for
PowerShares S&P 500 High Quality Portfolio (formerly Value Line TimelinessTM Select Portfolio)
(NYSE Arca, Inc. – PIV)
PowerShares Morningstar StockInvestor Core Portfolio (formerly PowerShares Value Line Industry Rotation Portfolio)
(NYSE Arca, Inc. – PYH)
Source: SEC.gov