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NSX Revises Pricing Schedule
April 1, 2010-National Stock Exchange (NSX®) has reduced the threshold for achieving a lower fee to remove liquidity, enabling more firms to benefit from NSX's competive Pricing Schedule.
Effective Thursday, April 1, 2010, the fee for removing liquidity will be $0.0028 for firms that add 50,000 or more shares per day of liquidity, which is a reduction from the previous threshold of 5 million.
Rebates for providing liquidity remain unchanged;This pricing applies to shares executed in stocks at or above $1.00.
NSX's aggressive pricing schedule reflects the Exchange's commitment to bringing highly competitive pricing to the industry.
Source: National Stock Exchange (NSX)
ISE Reports Monthly Volume for March 2010
April 1, 2010--The International Securities Exchange (ISE) today reported
average daily volume of 3.0 million contracts in March 2010.
Average daily trading volume for all options contracts decreased 32.6% to 3.0 million contracts in
March as compared to 4.4 million contracts during the same period in 2009. Total options volume
for the month decreased 29.6% to 68.2 million contracts from 96.8 million contracts in the same
year-ago period.
On a year-to-date basis, average daily trading volume of all options decreased 17.8% to 3.3
million contracts traded. Total year-to-date options volume through March 2010 decreased 17.8%
to 199.2 million contracts from 242.5 million contracts in the same period last year.
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Source: International Securities Exchange (ISE)
ELX Futures Reports Multiple Monthly And Quarterly Volume And Market Share Records For 2010
April 1, 2010--ELX Futures, L.P. (ELX Futures) announced today multiple volume and market share records in the month of March and the first quarter of 2010 for the combined five U.S. Treasury futures products. ELX set single quarter market share and volume records as well as reporting its highest average daily Open Interest, up 48.6% in the first quarter 2010 from the previous quarter.
Monthly and Quarterly Highlights:
• ELX finished the quarter on a strong note with 2.9% market share for the month of March, setting a new single month record.
• ELX set a total quarterly market share record for the combined five U.S. Treasury futures products at 2.6%, up 5.2% from the prior quarter.
• ELX set a total volume record for the combined five U.S. Treasury futures products at 3.3M, up 18.8% from the prior quarter.
•Quarterly ADV set a record at 54K, up 24.7% from the prior quarter.
•March was the highest volume month ever with 1.27M contracts traded.
• Average daily Open Interest surged 48.6% in the first quarter of 2010 from the prior quarter.
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Source: ELX
First Trust files with the SEC
March 31, 2010--First Trust has filed a Post-effective amendment, registation statement with the SEC for
First Trust BICK Index Fund
view filing
Source: SEC.gov
Fund.com acquires Weston Capital Management
March 31, 2010--Fund.com, Inc., (OTC Bulletin Board: FNDM) announced here today that effective as of March 29, 2010, it has acquired Weston Capital Management, LLC, an originator and distributor of hedge funds.
Founded in 1993 and headquartered in West Palm Beach, FL., Weston Capital earns fees on assets exceeding $1.0 billion under management. It has three lines of business: it originates and markets fund of funds; it originates and markets single-manager hedge funds; and it raises capital to seed new hedge funds. In 2010, Weston Capital and Harcourt AG formed a strategic alliance for investment manager identification and fund seeding. Harcourt, a $4.5 billion alternative investments manager that is majority owned by Vontobel Group, the $70 billion Swiss banking group, is a leading global advisor of alternative investments for institutional investors.
Weston Capital founder Albert Hallac continues as CEO of Weston Capital, directing its day-to-day operations and business strategy. In addition, Fund.com Chairman Joseph J. Bianco will become Chairman of Weston Capital. Weston Capital also has offices in London and New York City.
Fund.com CEO Gregory Webster and Weston Capital CEO Albert Hallac said, "We believe with the Weston Capital operations when aligned with Fund.com's majority interest in AdvisorShares, a developer and marketer of actively managed ETFs, Fund.com will be able to significantly accelerate increases of assets under management since it now has the ability to seed, originate and distribute hedge funds as well as seed, originate, develop and distribute actively traded ETFs to institutional and retail investors. AdvisorShares, Bethesda, MD, is one of the few companies that has been able to obtain approval from the US Securities and Exchange Commission to create actively managed ETFs. The ETF sector has assets more than $1 trillion and is the fastest growing segment of the fund management industry."
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Source: Fund.com
Invesco PowerShares Licenses Standard & Poor’s SmallCap Sector Indexes
March 31, 2010--Invesco PowerShares, a leading provider of exchange-traded funds (ETFs), announced today that it has signed a licensing agreement covering nine Standard & Poor’s SmallCap 600 Sector Indexes. Invesco PowerShares anticipates listing new ETF portfolios based on the indexes on April 7, 2010. The index names, anticipated PowerShares ETF portfolio names and ticker symbols are listed below.
---------------------------------- ---------------------------------- ------ Index Name Product Name Ticker ---------------------------------- ---------------------------------- ------ S&P SmallCap 600 Capped Consumer PowerShares S&P SmallCap Consumer Discretionary Index® Discretionary Portfolio XLYS ---------------------------------- ---------------------------------- ------ S&P SmallCap 600 Capped Consumer PowerShares S&P SmallCap Consumer Staples Index® Staples Portfolio XLPS ---------------------------------- ---------------------------------- ------ S&P SmallCap 600 Capped Energy PowerShares S&P SmallCap Energy Index® Portfolio XLES ---------------------------------- ---------------------------------- ------ S&P SmallCap 600 Capped Financials PowerShares S&P SmallCap Index® Financials Portfolio XLFS ---------------------------------- ---------------------------------- ------ S&P SmallCap 600 Capped Health PowerShares S&P SmallCap Health Care Index® Care Portfolio XLVS ---------------------------------- ---------------------------------- ------ S&P SmallCap 600 Capped PowerShares S&P SmallCap Industrials Index® Industrials Portfolio XLIS ---------------------------------- ---------------------------------- ------ S&P SmallCap 600 Capped PowerShares S&P SmallCap Information Technology Index® Information Technology Portfolio XLKS ---------------------------------- ---------------------------------- ------ S&P SmallCap 600 Capped Materials PowerShares S&P SmallCap Materials Index® Portfolio XLBS ---------------------------------- ---------------------------------- ------ S&P SmallCap 600 Capped Utilities PowerShares S&P SmallCap Utilities & Telecom Services Index® Portfolio XLUS ---------------------------------- ---------------------------------- ------
"Small-cap companies have historically outperformed large-cap companies during the initial stage of an economic recovery," said Ben Fulton, Invesco PowerShares managing director of ETFs. "Our licensing agreement with S&P Indices will allow us to introduce a family of nine small-cap sector ETFs that provide unique access for investors interested in hedging and sector weighting strategies."
The S&P SmallCap 600 Capped Index series is designed to measure the overall performance of small-cap stocks in the GICS® sectors that meet specific inclusion criteria to ensure that they are investable and financially viable. The Indexes are a subset of the S&P SmallCap 600™ Index, which is a float-adjusted, market-capitalization-weighted index reflecting the U.S. small-cap market. Companies must have a market capitalization between $250 million and $1.2 billion at the time of their addition to the S&P SmallCap 600 Capped Indexes. Investing in securities of small-sized companies may involve greater risk than is customarily associated with investing in large companies.
Source: Invesco PowerShares Capital Management LLC
CFTC Approves Final Rules Creating a Separate Account Class for Customer Positions in Cleared OTC Derivatives
March 31, 2010--On March 31, 2010, the Commodity Futures Trading Commission (CFTC) approved final rules (Final Rules) that enhance certainty regarding protections under the Bankruptcy Code and CFTC regulation Part 190 with respect to Over-the-Counter (OTC) derivatives (and related collateral) that customers clear through a futures commission merchant (FCM) on or subject to the rules of a derivatives clearing organization registered with the CFTC (cleared OTC derivatives).
The Final Rules enhance certainty regarding such protections by creating a sixth and separate account class, applicable in the event of FCM bankruptcy, for cleared OTC derivatives.
Additionally, the Final Rules codify the appropriate allocation between account classes of positions (and collateral), in the event of commodity broker bankruptcy, where cleared OTC derivatives are subject to a CFTC order under Section 4d of the Commodity Exchange Act
view final rules
Source: CFTC.gov
PowerShares has filed with the SEC
March 31, 2010--PowerShares has filed a Preliminary Prospectus with the SEC for
PowerShares Aggregate Bond Portfolio
PowerShares 1-20 Laddered Treasury Portfolio
PowerShares 1-10 Laddered Treasury Portfolio
PowerShares 1-5 Laddered Treasury Portfolio (NYSE Arca, Inc.
view filing
Source: SEC.gov
PowerShares files with SEC
March 30, 2010--PowerShares has filed a Preliminary Prospectus with the SEC for
PowerShares International Corporate Bond Portfolio
view filing
Source: SEC.gov
CME Group Announces Exclusive Licensing of Net Energy Daily Index for Western Canadian Select Heavy Crude Oil
March 30, 2010-- CME Group, the world’s leading and most diverse derivatives marketplace, today announced an exclusive licensing agreement for the Net Energy Canadian Daily Index for Western Canadian Select Heavy Crude Oil. CME Group plans to offer cash-settled cleared swaps on the New York trading floor and through CME ClearPort®, a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide neutral settlement prices across asset classes.
Trading and clearing is scheduled to begin in the second quarter of 2010.These contracts will be listed by NYMEX and subject to the rules and regulations of NYMEX and CME.
Calgary-based Net Energy Inc. provides daily settlement prices for spot and forward energy contracts and compiles, maintains and publishes indexes comprised of energy settlement prices.
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Source: CME Group