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PAX World Files with SEC
April 21, 2010--Pax World has filed a Third Amended and Restated Application for exemptive relief for
ESG Shares FTSE Environmental Technologies (ET50) Index Fund.
view filing
Source: SEC.gov
Global X Funds Lists Silver and Copper Miners ETFs on NYSE Arca
April 20, 2010-- NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the Global X Silver Miners ETF (Ticker: SIL) and Global X Copper Miners ETF (Ticker: COPX). The ETFs are sponsored by Global X Funds.
Global X Silver Miners ETF
The fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Silver Miners Index, which is a market capitalization-weighted index that is designed to measure broad based equity market performance of global companies involved in the silver mining industry, as defined by Structured Solutions AG.
Global X Copper Miners ETF
The fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Copper Miners Index, which is a market capitalization-weighted index that is designed to measure broad based equity market performance of global companies involved in the copper mining industry, as defined by Structured Solutions AG.
Source: NYSE Euronext
Dow Jones Indexes promotes Jamie Farmer to executive director
April 20, 2010--Dow Jones Indexes has expanded its executive team by promoting Jamie Farmer, former senior director global index operations and head of exchange relationships, to executive director.
This role was created to further harmonise Dow Jones Indexes' global business development and to ensure coordination of global business opportunities that result from the recent acquisition of 90 per cent of Dow Jones Indexes by the CME Group.
In addition to his existing operational and client activities, Farmer will assume responsibility for all global sales and business development activities at Dow Jones Indexes.
Source: Online News
Wall Street Reform Bill Addresses Problems Raised By Lehman Failure
April 20, 2010--As the following chart demonstrates, H.R. 4173, the Wall Street Reform and Consumer Protection Act, addresses some of the most egregious problems raised by the Lehman Brothers’ failure, which precipitated the costly taxpayer bailout put forward by President Bush in 2008.
For a more complete analysis of how the Republican substitute makes taxpayer bailouts more likely, click here.
House Wall Street Reform Legislation Addresses Problems Raised by Lehman Failure
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Problem |
H.R. 4173 |
Republican “Substitute” |
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No mechanism to wind down and break up large, interconnected institutions in an orderly fashion |
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|
read this
Source: House Financial Services Committee
CFTC to Hold Public Meeting to Consider Significant Price Discovery Contract Determinations
April 20, 2010--The U.S. Commodity Futures Trading Commission will meet on Tuesday, April 27, 2010, to consider whether contracts offered for trading on the IntercontinentalExchange, Inc. (ICE), the Natural Gas Exchange, Inc. (NGX) or the Chicago Climate Exchange, Inc. (CCX) perform significant price discovery functions.
The 2008 Farm Bill requires the CFTC to regulate certain derivatives traded on exempt commercial markets (ECMs) if those derivatives perform a significant price discovery function.
Following issuance of an order determining that a contract traded on an ECM performs a significant price discovery function, the ECM must, with respect to that contract, come into compliance with core principles mandated by Section 2(h)(7) of the Act and with other statutory provisions applicable to registered entities. These provisions would subject the ECM’s contract or contracts and market participants to the Commission’s position limit and emergency authorities and large trader reporting requirements, among others.
read more
Source: CFTC.gov
Silver Miners ETF (SIL) and Copper Miners ETF (COPX)
April 20, 2010--Global X Funds, the New York-based provider of Exchange Traded Funds, launched today the Global X Silver Miners ETF (ticker: SIL) and Global X Copper Miners ETF (ticker: COPX). SIL and COPX have a 0.65% expense ratio.
The Global X Silver Miners ETF is the only ETF in the world targeting silver mining companies. It tracks the Solactive Global Silver Miners Index, comprised of the largest and most liquid silver mining companies in the world. The majority of holdings are Canadian based companies but also include companies based in the US, Mexico, Peru, and Russia. As of March 31, the largest index components were Fresnillo, Industrias Penoles, Silver Wheaton, and Pan American Silver.
Silver benefits from being an investment asset and from industrial and consumer applications. According to commodities analysts, silver demand should remain strong as a result of both investment interest and increased use in the consumer and industrial sectors. 54% of silver demand is industrial, and according BMO Capital Markets, silver industrial demand is expected to rise 19% this year.
Because SIL invests in silver mining companies, it provides a differentiated investment profile to investing in physical silver. For example, according to Nick Barisheff, President of Bullion Management Group Inc., "at the beginning of a bull market, it is well documented that mining shares typically rise, and often outperform bullion."
The Global X Copper Miners ETF tracks the Solactive Global Copper Miners Index, comprised of the largest and most liquid copper mining companies in the world. COPX components are based in Canada, Australia, UK, US, Mexico, China, Poland, Switzerland, and South Africa. As of March 31, 2010, the largest the largest index components were Freeport-McMoran, Xstrata, Grupo Mexico, and Southern Copper.
Much of the world’s infrastructure depends on copper, and governments are expected to spend approximately $30 trillion on infrastructure projects over the next 20 years, according to a 2009 study by CIBC World Markets. China, as the world’s largest consumer of copper, is projected to use 15.6 billion pounds of copper each year by 2015, according to Barclays Equity Research.
"SIL and COPX provide investors with efficient and targeted exposure to silver and copper mining companies, respectively. Both metals are essential for the global economy and may see growing demand as the economic recovery continues," said Bruno del Ama, CEO of Global X Funds.
Source: Global X
Troubled Asset Relief Program has issued its Quarterly Report
April 20, 2010--The Special Inspector General for the Troubled Asset Relief Program has issued its Quarterly Report to Congress today April 20, 2010.
view report
Source: Special Inspector General for the Troubled Asset Relief Program (SIGTARP)
Exchange-Traded Funds-US ETF Weekly Update request report Montreal Exchange S&P/TSX 60(TM) Index Futures provides a valuable early indicator of investor sentiment read more ProShares files with the SEC view filing
April 19, 2010---Highlights
Weekly Flows: $2.9 billion net inflows
-Launches: 2 New ETFs
US-Listed ETFs: Estimated Flows by Market Segment
US ETFs had net cash inflows of $2.9 bln last week amid strong international flows
-Emerging Market Equity ($777 mln net inflows) vs. Developed Market Equity ($268 mln net inflows)
ƒÞ13-week net inflows strongest for fixed income and sector & industry
income; US Large-Cap restrained by SPY outflows of $4.6 bln.
Source: Morgan Stanley
April 19, 2010--Early trading start provides important indication of Toronto Stock Exchange opening level
Montréal Exchange Inc., a wholly-owned subsidiary of TMX Group and Canada's national derivatives exchange, today announced that its S&P/TSX 60(TM) Index Futures contract (symbol: SXF) has become an important barometer that accurately anticipates the direction of the S&P/TSX 60 Index at the opening of trading.
"Trading on the SXF futures contract starts at 6:00 a.m., which provides three and half hours of trading activity before Toronto Stock Exchange opens," said Alain Miquelon, President and Chief Executive Officer, Montréal Exchange. "Similar to other international markets, Canadian investors now have the opportunity to evaluate where the market will open by observing the behaviour of the SXF contract in response to economic news released prior to the open."
SOURCE: Toronto Stock Exchange
April 19, 2010--ProShares has filed a post-effective amendment, registration statement with the SEC for
ProShares Ultra MSCI Brazil;
ProShares Ultra MSCI Pacific ex-Japan;
ProShares Ultra MSCI Europe;
ProShares Ultra MSCI Mexico Investable Market;
ProShares Ultra KBW Regional Banking and;
ProShares Short KBW Regional Banking.
Source: SEC.gov