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Semi-Annual Changes To The NASDAQ Clean Edge Green Energy Index
March 15, 2010-- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Clean Edge, Inc. announced today the results of the semi-annual evaluation of the NASDAQ(R) Clean Edge(R) Green Energy Index (Nasdaq:CELS), which will become effective with the market open on Monday, March 22, 2010.
As a result of the evaluation, the following nine securities will be added to the Index: AIXTRON AG (Nasdaq:AIXG), A123 Systems, Inc. (Nasdaq:AONE), Green Plains Renewable Energy, Inc. (Nasdaq:GPRE), Universal Display Corporation (Nasdaq:PANL),
Power-One, Inc. (Nasdaq:PWER), Satcon Technology Corporation (Nasdaq:SATC), STR Holdings, Inc. (NYSE:STRI), UQM TECHNOLOGIES, INC. (AMEX:UQM), and Veeco Instruments Inc. (Nasdaq:VECO).
The Index is designed to track the performance of clean-energy companies that are publicly traded in the U.S. The Index includes companies engaged in the manufacturing, development, distribution, and installation of emerging clean-energy technologies such as solar photovoltaics, biofuels and advanced batteries. The five major sub-sectors that the index covers are Renewable Electricity Generation, Renewable Fuels, Energy Storage & Conversion, Energy Intelligence and Advanced Energy-Related Materials. The securities must also meet other eligibility criteria which include minimum requirements for market value, average daily share volume, and price. The Index is evaluated on a semi-annual basis in March and September. For more information about the NASDAQ Clean Edge Green Energy Index, including detailed eligibility criteria, visit https://indexes.nasdaqomx.com/.
As a result of the evaluation, the following six securities will be removed from the Index: Advanced Analogic Technologies, Inc. (Nasdaq:AATI), China BAK Battery, Inc. (Nasdaq:CBAK), Greatbatch, Inc. (NYSE:GB), Raser Technologies, Inc. (NYSE:RZ), Ultralife Corporation (Nasdaq:ULBI), and Valence Technology, Inc. (Nasdaq:VLNC).
Source: NASDAQ OMX
Annual Changes to the NASDAQ Internet Index
March 15, 2010--The NASDAQ OMX Group, Inc. announced today the results of the annual evaluation of the NASDAQ Internet Index, which will become effective with the market open on Monday, March 22, 2010.
As a result of the evaluation, the following 13 securities will be added to the Index: AOL Inc. (NYSE:AOL), Art Technology Group, Inc. (Nasdaq:ARTG), drugstore.com, inc. (Nasdaq:DSCM),
Internet Brands, Inc. (Nasdaq:INET), Limelight Networks, Inc. (Nasdaq:LLNW), LogMeIn, Inc. (Nasdaq:LOGM), LivePerson, Inc. (Nasdaq:LPSN), ModusLink Global Solutions, Inc. (Nasdaq:MLNK), OpenTable, Inc. (Nasdaq:OPEN), Orbitz Worldwide, Inc. (NYSE:OWW), RealNetworks, Inc. (Nasdaq:RNWK), Terremark Worldwide, Inc. (Nasdaq:TMRK), and Vitacost.com, Inc. (Nasdaq:VITC).
The Index is designed to track the performance of the largest and most liquid U.S.-listed companies engaged in internet-related businesses and that are listed in the U.S. The NASDAQ Internet Index is evaluated annually in March. For more information about the NASDAQ Internet Index, including detail eligibility criteria, visit https://indexes.nasdaqomx.com/.
As a result of the evaluation, the following 11 securities will be removed from the Index: Ariba, Inc. (Nasdaq:ARBA), AsiaInfo Holdings, Inc. (Nasdaq:ASIA), DivX, Inc. (Nasdaq:DIVX), GigaMedia Limited (Nasdaq:GIGM), China Finance Online Co. Limited (Nasdaq:JRJC), Liquidity Services, Inc. (Nasdaq:LQDT), Marchex, Inc. (Nasdaq:MCHX), SkillSoft PLC (Nasdaq:SKIL), SonicWALL, Inc. (Nasdaq:SNWL), S1 Corporation (Nasdaq:SONE), and Websense, Inc. (Nasdaq:WBSN).
Source: NASDAQ OMX
Annual Changes to the NASDAQ China Index
March 15, 2010--The NASDAQ OMX Group, Inc. announced today the results of the annual re-ranking of the NASDAQ China Index (Nasdaq:CHXN), which will become effective with the market open on Monday, March 22, 2010.
The following six securities will be added to the Index: Canadian Solar Inc. (Nasdaq:CSIQ), Shanda Games Limited (Nasdaq:GAME), Home Inns & Hotels Management Inc. (Nasdaq:HMIN), JA Solar Holdings Co., Ltd. (Nasdaq:JASO), Trina Solar Limited (NYSE:TSL), and WuXi PharmaTech (Cayman) Inc. (NYSE:WX).
The Index is designed to track the performance of a set of U.S. listed companies that are headquartered in China and Hong Kong. The NASDAQ China Index is re-ranked annually in March. For more information about the NASDAQ China Index, including detailed eligibility criteria, visit https://indexes.nasdaqomx.com/.
As a result of the re-ranking, the following six securities will be removed from the Index: Aluminum Corporation of China Limited (NYSE:ACH), China Telecom Corporation Limited (NYSE:CHA), Huaneng Power International, Inc. (NYSE:HNP), LDK Solar Co., Ltd. (NYSE:LDK), VisionChina Media Inc. (Nasdaq:VISN), and Yanzhou Coal Mining Company Limited (NYSE:YZC).
Source: NASDAQ OMX
Lehman report raises derivatives clearing fears
March 15, 2010--Details which have emerged about the scramble at CME, the world’s biggest futures exchange, after the collapse of Lehman Brothers, have raised questions over how effectively clearing houses can process the growing volume of derivatives.
A court-appointed examiner’s report into Lehman’s final hours released last week says CME convened an emergency committee that conducted a forced transfer of the bank’s positions, the only time this has been done by the exchange operator.
Lehman, a clearing house member, had $4bn in margin accounts to back-stop commitments for customers as well as big proprietary bets on energy, interest rate and stock-index futures.
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Source: FT.com
Statement of Treasury Secretary Geithner on Financial Reform
March 15, 2010--The U.S. Department of the Treasury today released the following statement from Secretary Tim Geithner on the release of Senate Banking Committee Chairman Chris Dodd's (D-CT) Restoring American Financial Stability Act of 2010:
"This is a strong bill. We hope the Committee and the Senate will move forward quickly to pass comprehensive reform. We need a strong, independent consumer financial protection agency that is accountable for setting and enforcing clear rules across the financial marketplace. And we need strong authority to limit risk-taking and protect the taxpayer. Enacting reform will help reduce uncertainty about the rules of the road going forward. Passing strong reforms here at home will also give us the ability to put in place a level playing field internationally, with high standards. As the President said, as the bill moves forward, we will take every opportunity to work with Chairman Dodd and his colleagues to strengthen the bill and will fight against efforts to weaken it."
Source: U.S. Department of the Treasury
Treasury International Capital Data For January
March 15, 2010-- The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for January 2010. The next release, which will report on data for February 2010, is scheduled for April 15, 2010.
Net foreign purchases of long-term securities were $19.1 billion.
Net foreign purchases of long-term U.S. securities were $36.1 billion. Of this amount, net purchases by private foreign investors were $40.3 billion, and net purchases by foreign official institutions were negative $4.2 billion.
U.S. residents purchased a net $17.0 billion of long-term foreign securities.
Net foreign acquisition of long-term securities, taking into account adjustments, is estimated to have been $0.9 billion.
Foreign holdings of dollar-denominated short-term U.S. securities, including Treasury bills, and other custody liabilities decreased $30.9 billion. Foreign holdings of Treasury bills decreased $44.4 billion.
Banks' own net dollar-denominated liabilities to foreign residents decreased $3.5 billion.
Monthly net TIC flows were negative $33.4 billion. Of this amount, net foreign private flows were $0.6 billion, and net foreign official flows were negative $34.1 billion.
view data
Source: U.S. Department of the Treasury
Ticonderoga Securities launches ETF desk
March 15, 2010--Ticonderoga Securities, an institutional broker dealer, today announced the launch of its Exchange-Traded Funds (ETF) Desk, which will be led by William Bauer. Bauer joins Ticonderoga with more than 18 years of institutional equity and derivative sales and trading experience, with five years focused on ETFs.
The new group will specialize in market making capabilities for institutional investors moving in and out of ETFs. The team will also advise clients on portfolio-trading issues, provide analysis and strategy, and assist in order execution through strong collaboration with the firm's Sales & Trading Desk. As head of the ETF Desk, Bauer will focus on building out the ETF platform over the next several months, adding support staff, assistant traders and sales traders focused on ETF sales.
"Bill, who has an unparalleled level of expertise in ETFs, is a significant addition to our growing team," said Shawn McLoughlin, CEO and Co-Founder of Ticonderoga Securities. "We are confident that Bill will make a strong and immediate contribution to our client offering."
Bauer comes to Ticonderoga from Knight Capital, where he was a Director in ETF sales and trading. Before that, he was Vice President in sales and trading on the ETF market-making desk at Newedge Financial LLC, and also served as Vice President in sales and trading at RBC Capital Markets. Bauer attended University of Hartford with a focus on economics and finance.
"Hedge funds and money managers are increasingly embracing ETF's as a superior product with greater transparency and liquidity," said Bauer. "As this continues, Ticonderoga will be positioned well for growth."
With the addition of the ETF Desk, Ticonderoga continues to position itself as a leading broker dealer, concentrating on domestic and international equities with a focus on high-quality order execution alongside its differentiated research. The new group will further diversify Ticonderoga's product offering, which was recently expanded to include a Risk Arbitrage Desk, as well as coverage of the Brokerage, Asset Management, Exchanges and Homebuilding and Building Products sectors.
Source: Ticonderoga Securities
Morningstar Reports U.S. Mutual Fund and ETF Asset Flows Through February 2010
April 15, 2010--Morningstar, Inc. a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund asset flows through February 2010. Although investors poured $30.3 billion into mutual funds overall in February, $3.7 billion exited U.S. stock funds, marking the fifth outflow in the last six months. ETF inflows reached $4.6 billion in February after steep outflows of roughly $16.7 billion in January. The U.S. ETF industry closed out February with about $764.6 billion in total net assets, up roughly 2.4% from $746.9 billion in December and up 67.9% from $455.5 billion during the same period in 2009.
Additional highlights from the report on mutual funds:
Excluding domestic-stock funds, every other major asset class took in assets in February, led by taxable-bond funds with inflows of $19.8 billion.
Templeton Global Bond has taken in more than $14.5 billion in assets over the past 12 months, second only to PIMCO Total Return in bond inflows. PIMCO Short-Term Bond has also seen significant growth over the same period, and its total net assets are now $10.6 billion.
Many of the fastest-growing new funds that have launched over the past six months are associated with target-date funds, notably Fidelity Series Commodity Strategy, which is one of the underlying funds in Fidelity's Freedom Target-Date series, and Fidelity Series Inflation-Protected Bond Index.
JPMorgan and T. Rowe Price began 2010 on a strong note, with year-to-date inflows of $5.3 billion and $3.8 billion, respectively.
Additional highlights from the report on ETFs:
While investors pulled money from domestic-stock mutual funds in February, domestic-stock ETFs topped all ETF asset classes for February inflows, led by SPDRs SPY with roughly $1.5 billion in net inflows.
Investors withdrew about $2.9 billion from international-stock ETFs in February, the most among the broad asset classes and the first monthly outflow the asset class has experienced since August 2009.
Commodity ETFs saw net outflows of approximately $981.0 million in February, which marked the second consecutive month of net redemptions after 14 straight months of net inflows.
Leveraged and leveraged-inverse ETFs saw some $859.7 million in net new assets in February, with investors favoring short exposure at the expense of leveraged funds offering long exposure.
view Morningstar DirectSM Fund Flows Update
Source: Morningstar
CFTC Seeks Public Comment on Request From CME Clearing and NYMEX Involving Contracts Traded on the Dubai Mercantile Exchange
March 15, 2010--The Commodity Futures Trading Commission (Commission) is requesting public comment on a petition submitted by the Clearing House Division of the Chicago Mercantile Exchange Inc. (CME Clearing) and the New York Mercantile Exchange Inc. (NYMEX) to amend an existing order in connection with contracts traded on the Dubai Mercantile Exchange (DME).
In April 2008, the Commission issued an order under Section 4d of the Commodity Exchange Act permitting NYMEX and clearing member futures commission merchants to hold customer positions and associated funds held in connection with NYMEX’s clearing of specific futures contracts traded on or subject to the rules of the DME with other funds held in the segregated account. CME Clearing and NYMEX wish to amend the order to include four new financially-settled option and swap futures contracts that will be listed for trading on or subject to the rules of DME and cleared by NYMEX through CME Clearing.
Comments regarding the request should be submitted on or before April 15, 2010.
Comments may be submitted electronically to secretary@cftc.gov. All comments received will be posted on the Commission’s website.
Source: DFTC.gov
Chicago Exchange Files for $300 Million I.P.O.
March 12, 2010--
The last major private exchange left in the U.S., the Chicago Board Options Exchange, filed for an initial public offering of up to $300 million Thursday, The Associated Press reported.
The C.B.O.E. plans to convert from a member-owned organization to a publicly traded corporation known as CBOE Holdings that analysts say could be worth up to $5 billion.
The Chicago exchange, the largest platform for options trading in the U.S., did not say when it planned to go public or how many shares it hoped to sell. The C.B.O.E. has wanted to go public for a long time. It settled a dispute over payment for ownership with the CME Group, which operates the Chicago Mercantile Exchange and the Chicago Board of Trade, in August 2008, clearing the way for an I.P.O.