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State Street files with the SEC
March 12, 2010--State Street has filed a post-effective amendment, registration statement with the SEC for
SPDR(R) S&P Agency Bond ETF
SPDR(R) Barclays Capital Corporate Bond ETF
SPDR(R) Barclays Capital Corporate Industrial Bond ETF
SPDR(R) Barclays Capital Corporate Financial Bond ETF
SPDR(R) Barclays Capital Corporate Utilities Bond ETF
SPDR(R) Barclays Capital Zero Coupon Bond ETF
SPDR(R) Barclays Capital CMBS ETF
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Source: SEC.gov
Van Eck files with the SEC
March 12, 2010--Van Eck has filed a amended and restated application for exemptive relief from the SEC.
view filing
Source: SEC.gov
Administration Releases February Loan Modification Report
March 12, 2010--The U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) today released February data for the Administration's Home Affordable Modification Program (HAMP).
As of the end of the month, more than one million borrowers were receiving a median savings of $500 each month – a 36 percent median monthly payment decrease. Permanent modifications have been granted to 170,000 homeowners and an additional 91,800 permanent modifications have been approved by servicers and are pending only borrower acceptance.
View the February HAMP Report
Source: U.S. Department of the Treasury.
ETFs Based on the PHLX Semiconductor Sector Index are Launched by Direxion Shares
March 12, 2010--The NASDAQ OMX Group, Inc. today announced that two new exchange traded funds (ETFs)
based on NASDAQ OMX's PHLX Semiconductor SectorSM index (SOX) have been introduced today by Direxion Shares. The new ETFs are leveraged Bull
and Bear index funds that seek 300% of the daily performance, or 300%
of the inverse of the daily performance (before fees and expenses), of
the PHLX Semiconductor Sector index, the most widely recognized index
investors use to track the semiconductor industry.
"The PHLX Semiconductor Sector index provides broad exposure to an
industry that is increasingly tied to the global economy," said John
Jacobs, Executive Vice President, NASDAQ OMX Global Index Group. "With the launch of these ETFs, investors can now employ new investment strategies involving some of the world's most innovative companies that often drive the broader technology industry."
On March 11, the following ETFs that offer leveraged long and short exposure to the PHLX Semiconductor Sector index began trading:
-- Direxion Daily Semiconductor Bull 3X Shares (SOXL)
-- Direxion Daily Semiconductor Bear 3X Shares (SOXS)
"Direxion is a leader in delivering innovative investment solutions that provide magnified exposure to a spectrum of specific industry sectors, on both the long and short end," stated Dan O'Neill, Direxion Shares' President. "We are pleased to introduce our new Semiconductor 3x ETFs, which reflect our commitment to serving sophisticated investors with tactical investment tools amid changing market conditions."
The PHLX Semiconductor Sector index is a modified
capitalization-weighted index composed of companies primarily involved
in the design, distribution, manufacture, and sale of semiconductors.
To view a complete list of component companies, visit
https://indexes.nasdaqomx.com/weighting.aspx?IndexSymbol=SOX&menuIndex=
0.
Source: NASDAQ OMX
Direct Edge Granted Exchange Status By SEC
Third Largest U.S. Stock Market to Commence Exchange Operations in Early Q2; Coincides With Launch of Its New Trading Platform and Data Center
March 12, 2010--Direct Edge announced today that the U.S Securities and Exchange Commission ("SEC") has officially approved the exchange applications for its ECN trading systems, EDGA and EDGX, as two registered national securities exchanges. Direct Edge anticipates its equities marketplace to commence exchange operations in early spring 2010.
"This approval is an exciting milestone for Direct Edge and, importantly, for all market participants who value choice and competition in the market," said William O'Brien, Chief Executive Officer of Direct Edge. "Direct Edge's business is centered on delivering innovative products, creative solutions and better executions to our customers -- not simply matching buyers and sellers -- and exchange status affords us even more opportunities to continue doing just that."
"We are extremely grateful to the SEC for working so closely with us throughout this process and for its swift yet diligent approach to reviewing and approving our exchange applications," said O'Brien. "Furthermore, we are extremely thankful to our strategic partners and all of our customers who recognize the merits of our offering and have helped make Direct Edge the third largest U.S. stock exchange behind only the NYSE and NASDAQ."
Direct Edge filed for exchange status in May 2009.
The Direct Edge Exchange will launch on a next-generation trading system designed to deliver optimal trading speed and efficiency to customers while helping to reduce technology costs for the company. The infrastructure will be housed in the new state-of-the-art Equinix NY4 data center in Secaucus, NJ.
More information about Direct Edge is available at www.directedge.com.
Source: Direct Edge
Funds find reward in faith-based investments in Oklahoma City
March 11, 2010--Oklahoma City-based FaithShares Advisors launched five new exchange-traded funds in December. This month, four of them cracked Lipper Ratings’ top 10 large-cap funds.
"In 33 years in this business, I had never seen that kind of performance,” said Tom Phillips, president of FaithShares Advisors. "Of course, it’s only two months — not 20 years.”
Although the ranking ran in the Wall Street Journal, it didn’t attract a lot of attention from buyers, nor from the founders. Phillips said he didn’t see the ranking, which ran deep within the newspaper, until someone pointed it out to him a couple of days after it publication.
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Source: NewsOK-Oklahoman
Direxion files with the SEC
March 11, 2010--Direxion has filed a post-effective amendment, registration statement with the SEC.
view filing
Source: SEC.gov
Old Mutual puts US life business up for sale
March 11, 2010--Old Mutual has engaged JPMorgan to explore a sale of the group’s US life assurance business and has already had a number of expressions of interest, according to people familiar with the situation.
The US business suffered huge swings in the value of its assets through the financial crisis and Old Mutual has had to pump in capital and overhaul its costs, products and investment portfolio.
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Source: FT. com
CBOE Holdings, Inc. Files Registration Statement For Proposed Initial Public Offering
March 11, 2010--CBOE Holdings, Inc. announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to its proposed initial public offering of shares of its class of unrestricted common stock. The number of shares to be offered and the price range for the offering have not yet been determined. The shares of unrestricted common stock to be sold in this offering are proposed to be sold by CBOE Holdings and/or certain stockholders. CBOE Holdings will not receive any of the proceeds from the sale of shares by the selling stockholders.
CBOE Holdings intends for the proposed offering to take place concurrently with the proposed demutualization of Chicago Board Options Exchange, Incorporated, currently the parent corporation of CBOE Holdings. Subject to a vote by the members of CBOE in favor of demutualization, CBOE Holding's and CBOE's goal is to complete both the demutualization and the IPO by the end of the second quarter of 2010. It is the intention of CBOE Holdings to use the net proceeds from the shares sold by the company for general corporate purposes, including the repurchase of shares of the common stock to be issued to CBOE members in the demutualization and to members of the settlement class who will be receiving stock under the settlement agreement in the exercise right litigation between CBOE and former members of the Chicago Board of Trade.
The sole global coordinator of the offering will be Goldman, Sachs & Co. This offering will be made only by means of a prospectus. A copy of the preliminary prospectus, when available, may be obtained by contacting Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004, Attention: Prospectus Department (Phone: +1 866 471 2526; Fax: +1 212 902 9316; e-mail: prospectus-ny@ny.email.gs.com.) A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Source: CBOE Group
State Street Global Advisors Launches Russia ETF
* New ETF targets one of world's hottest markets
Will compete with similar Van Eck ETF
State Street Corp (STT.N) on Thursday unveiled a new exchange-traded fund investing in shares of red-hot Russian companies.
The Russian stock market has almost tripled over the past year, by far the best performance of major country equity indexes. Only Ukraine and Romania rose more, according to data from Bespoke Investment Group.
The new SPDR S&P Russia ETF (RBL.P) is based on Standard & Poor's BMI Russia Capped Index. The index consists of 72 Russian stocks, each with a float-adjusted market capitalization of at least $100 million and a minimum value traded of $50 million in the previous year.MP
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Source: Reuters