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Geithner warns US could lose regulation initiative
March 22, 2010--Tim Geithner, US Treasury secretary, warned lawmakers on Monday that “America will lose this opportunity to set the global agenda” on financial regulation if Congress fails to complete passage of legislation to reform oversight of the financial system.
He spoke just as the Senate banking committee voted out a financial regulatory bill without the Republican support necessary for the legislation to pass a final vote in the Senate, but Republicans offered hope that they could eventually reach agreement after the Easter break.
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Source: FT.com
Greek crisis may hit US economy: Fed regional chief
March 22, 2010--The Greek debt crisis may directly affect the US economy by hitting American exports and the financial system, Atlanta Federal Reserve regional chief Dennis Lockhart warned Monday.
He said adjustments across the European Union to fiscal problems resulting from the Greek crisis could dampen eurozone growth and constrain US exports to that region.
The crisis could also lead to currency flows from the euro into "safe-haven" US dollar assets, causing an appreciation of the greenback and hurting American export competitiveness, Lockhart said.
The European Union as a whole is the largest export market for the United States.
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Source: EUbusiness
IndexIQ Australia Small-Cap ETF Debuts On Tuesday
March 22, 2010--IndexIQ will introduce its IQ Australia Small Cap ETF tomorrow under the ticker "KROO." KROO the performance of the IQ Australia Small Cap Index.
To be included in the ETF, companies must be based in Australia, trade on an Australian exchanges and have a minimum market cap of $150 million for the past 90 days. Other requirements include minimum average daily trading volume of at least $1 million for the prior 90 days and average monthly volume of at least 250,000 shares.
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Source: Benzinga
ISE Launches Enhanced Risk Management Tools for Exchange Members
March 22, 2010--The International Securities Exchange (ISE) today announced that it has
enhanced the risk management tools available to its options exchange members connecting via FIX. ISE’s
members can now define hard risk management limits for their own connections and their sponsored access
customers. The enhancements allow members to define the maximum quantity and the maximum notional value
that can be entered on a per order or daily basis.
The new risk management limits are already available through
PrecISE Trade®, ISE’s proprietary front-end trading system. Orders that exceed the pre-defined limits will be
rejected in both platforms.
“ISE’s new risk management limits give our members increased control over the orders that can be sent into the exchange, improving their risk management capabilities,” said Boris Ilyevsky, Managing Director of ISE’s options exchange. “Although the SEC has yet to make a determination on rules for sponsored access, we saw a need to proactively enhance the safeguards available to our member firms to complement existing risk management features for their own orders and for those of sponsored customers.”
ISE’s risk management tools also include order monitoring via PrecISE, FIX Trade Drop Copy Reports and the recently introduced FIX Order Drop Copy Feed, which allows exchange members to monitor firm and sponsored customer activity in real time. These reports are available for orders routed through PrecISE, FIX and API connections.
For more information about ISE’s risk management tools, please contact Business Development at
bizdev@ise.com.
Source: International Securities Exchange (ISE)
CFTC Announces Participants for Public Meeting to Examine Futures and Options Trading in the Metals Markets
March 22, 2010The Commodity Futures Trading Commission (CFTC) today announced the participants for its public meeting to examine the trading of futures and options in the precious and base metals markets. The meeting is scheduled to begin at 9:00 a.m. EDT on Thursday, March 25, 2010, CFTC Hearing Room, 1155 21st Street, NW, Washington, DC.
Reminder: Advanced Registration Requested. The Commission is requesting all individuals interested in attending the metals meeting to register in advance. Please transmit full name and organization represented to metalsmeetingregistration@cftc.gov.
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Source: CFTC.gov
Emerging Markets Week in Review -3/15/2010 - 3/19/2010
March 22, 2010--The Dow Jones Emerging Markets Composite Index had its sixth consecutive weekly increase, gaining 0.57% last week and remains slightly negative for the year. Health Care and Industrials led the way, up 1.50% and 1.26% respectively. Utilities was the only negative sector last week, down 0.75%. Technology, one of the best performing sectors in 2009, continues to lead all sectors in 2010, up 9.21% for the year.
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Source: Emerging Global Advisors
Semi-Annual Changes to the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index
March 22, 2010--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Clean Edge, Inc. announced the results of the semi-annual evaluation of the NASDAQ OMX® Clean Edge® Smart Grid Infrastructure Index (Nasdaq:QGRD), which will become effective with the market open today.
The following four securities will be added to the Index: AZZ incorporated (AZZ UN), MYR Group Inc. (MYRG UQ), PowerSecure International, Inc. (POWR UQ), and Prysmian S.p.A. (PRY IM).
The Index is a modified market-capitalization index designed to act as a transparent and liquid benchmark for the smart grid and electric infrastructure sector. The Index includes companies that are primarily engaged and involved in electric grid; electric meters, devices, and networks; energy storage and management; and enabling software used by the smart grid and electric infrastructure sector. The securities must also meet other eligibility criteria which include minimum requirements for market capitalization and average daily dollar trading volume. The Index is evaluated on a semi-annual basis in March and September. For more information about the NASDAQ OMX® Clean Edge® Smart Grid Infrastructure Index, including detailed eligibility criteria, visit https://indexes.nasdaqomx.com/.
The First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund (Nasdaq:GRID), is an exchange traded fund that seeks investment results that correspond generally to the price and yield, before the Fund's fees and expenses, of the NASDAQ OMX ® Clean Edge® Smart Grid Infrastructure Index.
Source: NASDAQ OMX
Quarterly Changes to the NASDAQ OMX Wilder NASDAQ OMX Global Energy Efficient Transport Index
March 22, 2010-- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Wilder Transport Index LLC announced the results of the quarterly evaluation of the Wilder NASDAQ OMX Global Energy Efficient Transport Index(SM) (Nasdaq:HAUL), which will become effective with the market open today.
The following three securities will be added to the Index: Capstone Turbine Corporation (CPST UQ), Kuehne + Nagel International AG (KNIN VX), and Westinghouse Air Brake Technologies Corporation (WAB UN).
The Index is a modified equal dollar weighted index designed to track innovative, energy efficient transportation companies, specifically those companies that stand to benefit substantially from a societal transition towards cleaner and improved means of moving goods and people as determined by Wilder Transport Index, LLC ("Wilder, LLC"). The securities must also meet other eligibility criteria which include minimum requirements for market capitalization and average daily dollar trading volume. The Index is evaluated on a quarterly basis. For more information about the Wilder NASDAQ OMX Global Energy Efficient Transport IndexSM, including detailed eligibility criteria, visit https://indexes.nasdaqomx.com/.
As a result of the evaluation, the following five securities will be removed from the Index: Log-in Logistica Intermodal S.A. (LOGN3 BS), New Flyer Industries Inc. (NFI-U CN), Quantum Fuel Systems Technologies Worldwide, Inc. (QTWW UQ), UQM Technologies, Inc. (UQM UA), and Vossloh AG (VOS GY).
The PowerShares Global Progressive Transportation Portfolio (Nasdaq:PTRP) is an exchange traded fund that seeks investment results that correspond generally to the price and yield, before the Fund's fees and expenses, of the Wilder NASDAQ OMX Global Energy Efficient Transport Index(SM).
Source: NASDAQ OMX
Semi-Annual Changes to the NASDAQ OMX Clean Edge Global Wind Energy Index
March 22, 2010--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Clean Edge, Inc. announced the results of the semi-annual evaluation of the NASDAQ OMX® Clean Edge® Global Wind Energy Index (Nasdaq:QWND), which will become effective with the market open today.
The following two securities will be added to the Index: China Longyuan Power Group Corporation Limited (916 HK) and Edison International (EIX UN).
The Index is a modified market-capitalization index designed to act as a transparent and liquid benchmark for the global wind energy sector. The Index includes companies that are primarily manufacturers, developers, distributors, installers, and users of energy derived from wind sources. The securities must also meet other eligibility criteria which include minimum requirements for market capitalization and average daily dollar trading volume. The Index is evaluated on a semi-annual basis in March and September. For more information about the NASDAQ OMX Clean Edge Global Wind Energy Index, including detailed eligibility criteria, visit https://indexes.nasdaqomx.com/.
As a result of the evaluation, the following three securities will be removed from the Index: Fersa Energias Renovables, S.A. (FRS SM), Suzlon Energy Limited (SUEL IS), and Theolia SA (TEO FP).
The NASDAQ OMX Clean Edge Global Wind Energy Index is the basis for the PowerShares Global Wind Energy Portfolio (Nasdaq:PWND), which seeks investment results that correspond generally to the price and yield of the NASDAQ OMX Clean Edge Global Wind Energy Index before fees and expenses.
Source: NASDAQ OMX
Claymore files with SEC
March 19, 2010--post-effective amendment, registration statement with the SEC for the folowing funds
WILSHIRE LARGE-CAP ETF
WILSHIRE LARGE-CAP GROWTH ETF
WILSHIRE LARGE-CAP VALUE ETF
WILSHIRE MID-CAP ETF
WILSHIRE MID-CAP GROWTH ETF
WILSHIRE MID-CAP VALUE ETF
WILSHIRE SMALL-CAP ETF
WILSHIRE SMALL-CAP GROWTH ETF
WILSHIRE SMALL-CAP VALUE ETF
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Source: SEC.gov