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BM&FBOVESPA sets new trading record in its Derivatives Segment
February 5, 2010--The Brazilian Securities, Commodities and Futures Exchange – BM&FBOVESPA set yesterday (2/04) a record 79,672 trades in its derivatives segment. The previous record of 75,785 trades was set on 10/28/2009.
Yesterday’s trading also set another record: financial volume in the interest rate futures (one-day ID) market totaled BRL 139.11 billion, in comparison to BRL 103.35 billion, set on 12/30/2009.
Exchange registers a record 1.2 million contracts traded via DMA in the derivatives segment
The BM&FBOVESPA reached also on 2/04/2010 the historic mark of 1,208,268 contracts traded in 103,114 trades via Direct Market Access (DMA) in the derivatives segment. The previous records were 836,153 contracts traded (set on 1/28/2010) and 95,665 trades (set on 1/21/2010), respectively.
read more
Source: BM&FBOVESPA
BlackRock's iShares Continues to Add Country ETFs
Febraury 5, 2010--BlackRock Inc.'s iShares has registered nine additional country-specific exchange-traded funds with the Securities and Exchange Commission.
The first batch was for: the iShares MSCI Poland Investable Market Index, iShares MSCI China Small-Cap Index, iShares MSCI Indonesia Investable Market Index and iShares MSCI New Zealand Investable Market Index funds.
The second filing covered: the iShares MSCI USA Index, iShares MSCI Brazil Small Cap Index, iShares MSCI Egypt Capped Investable Market Index, iShares MSCI Ireland Capped Investable Market Index, iShares MSCI Russia Capped Index and iShares MSCI Philippines Investable Market Index funds.read more
Source: Financial Planning
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
February 5, 2010--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Friday, February 5, 2010:
Canplats Resources Corporation (TSXVN:CPQ) will be removed from the index.
Pursuant to a plan of arrangement, the shares of the company have been acquired by Goldcorp Inc. (TSX:G).
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poors
BetaPro Management Inc. Launches New Suite of HBP Inverse ETFs on TSX
February 4, 2010--Jovian Capital Corporation ("Jovian") (JOV:TSX) and its subsidiary BetaPro Management Inc. ("BetaPro") are pleased to announce the listing of three new Horizons BetaPro Inverse Exchange Traded Funds ("HBP Inverse ETFs") on the Toronto Stock Exchange. The HBP Inverse ETFs are expected to track the opposite (100%) of the daily performance of their underlying benchmarks, less applicable fees and expenses. The HBP Inverse ETFs do not involve leverage.
"Our HBP Inverse ETFs now total seven and provide a complement to our popular leveraged HBP Bull+ and Bear+ ETFs," said Howard Atkinson, President of BetaPro. "These ETFs are extremely valuable tools for bearish investors to profit from a market decline or hedge existing portfolio exposure."
The new HBP Inverse ETFs and their ticker symbols are:
Horizons BetaPro S&P 500(R) Inverse ETF ("HBP S&P 500(R) Inverse ETF-Ticker :
Horizons BetaPro NYMEX(R) Crude Oil Inverse ETF-("HBP NYMEX(R) Crude Oil Inverse ETF")-Ticker :
Horizons BetaPro NYMEX(R) Natural Gas Inverse ETF ("HBP NYMEX(R) Natural Gas Inverse ETF")- Ticker :
Each HBP Inverse ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to one times (100%) the inverse (opposite) of the daily performance of its specified underlying index. The HBP S&P 500(R) Inverse ETF will use the S&P 500(R) as its underlying index. The HBP NYMEX(R) Crude Oil Inverse ETF will use the NYMEX(R) light sweet crude oil futures contract for the next delivery month, and the HBP NYMEX(R) Natural Gas Inverse ETF will use the NYMEX(R) natural gas futures contract for the next delivery month, as their respective underlying indices. The HBP Inverse ETFs are denominated in Canadian dollars. Any U.S. dollar gains or losses as a result of the ETF's investment will be hedged back to the Canadian dollar to the best of its ability.
The new line-up joins the following existing HBP Inverse ETFs
Horizons BetaPro S&P/TSX 60(TM) Inverse ETF ("HBP S&P/TSX 60(TM) Inverse ETF")Ticker:HIX
Horizons BetaPro S&P/TSX Financials(TM) Inverse ETF("HBP Financials Inverse ETF") -Ticker:HIF
Horizons BetaPro S&P/TSX Energy(TM) Inverse ETF ("HBP Energy Inverse ETF") -Ticker:HIE
Horizons BetaPro S&P/TSX Global Gold(TM) Inverse ETF ("HBP Gold Inverse ETF") -Ticker : HIG
Source: BetaPro Management
Pax World files with the SEC
February 4, 2010--Pax world has filed a registration statement with the SEC for
Pax World ESG Shares FTSE Environmental Technologies (ET50) Index Fund-Cusip:70422P305, NYSE Arca Trading Ticker: ETFY
The Fund seeks investment returns that closely correspond to the price and yield performance, before fees and expenses, of the ETS ET50 Index , which is created and maintained by the FTSE Group. The Index is composed of equity securities of the fifty largest companies globally with a core business in environmental technology, measured by marketplace capitalization.
Total Annual Fund Operating Expenses: 0.55%
view filing
PIMCO Launches Short Term Municipal Bond Strategy Fund, an Actively Managed ETF
"As cities and states face ever-greater challenges in managing their budgets, issuer-specific credit analysis has become essential to succeeding as a municipal bond investor," said Mr. Cummings. "With SMMU, PIMCO will look to use its proven credit expertise to provide investors with a carefully selected, diversified portfolio of short maturity municipal bonds with the complete transparency and accessibility of an ETF."
Unlike index funds that may rely solely on ratings agencies for credit analysis, PIMCO analyzes each municipality's ability to pay obligations, collect taxes, benefit from federal stimulus and other factors, along with a detailed evaluation of the structure of each bond issue, before a decision is made to purchase a security. In addition, the firm's size, presence and relationships in municipal bond markets may enhance the ability to receive attractive pricing and execution on each trade. Because the fund is actively managed, PIMCO can focus on adjusting the portfolio as credit conditions change and also manage losses in an effort to increase the fund's tax efficiency.
The PIMCO Short Term Municipal Bond Strategy is the firm's third actively managed ETF and second municipal bond ETF, following the PIMCO Intermediate Municipal Bond Strategy Fund (NYSE: MUNI) launched on Nov. 30, 2009. As with all of PIMCO's ETF offerings, the fund seeks to provide investors greater access to PIMCO's investment process, market expertise and risk management by offering strategies and vehicles that appeal to a wide range of investor preferences, while also complementing the firm's other offerings. Treasury Secretary Timothy F. Geithner Written Testimony before the US Senate Budget Committee This is why we have a lot of work to do together to make sure that as overall economic growth recovers, so does job growth. We must restore confidence in the economy's fundamental resilience, and we are taking the steps to ensure sustainable growth going forward that is more widely shared among the American people.
Our immediate priority is to work together to encourage the creation of more and, better-paying jobs. We can only achieve that objective if we are committed to laying a foundation for job creation in the private sector. In the short-term that means ensuring that the true engines of job creation, America's businesses, have the right incentives to expand and hire through new targeted measures in 2010 that will speed job creation. read more
Index Data Monthly Report: U.S. Edition Financial Services Committee to Consider the Future of Housing Finance DB Index Research -- Weekly ETF Reports -- US
Among the Emerging country ETFs, iShares MSCI Brazil ETF turnover was US$1,306m followed by iShares FTSE/Xinhua China ETF with turnover of US$1,197m. In non-US developed market flows, iShares MSCI Japan had turnover of US$311m. In non-domestic regional flows, emerging market turnover was US$3.5bn and developed markets regional flows EAFE had turnover of US$1.1bn.
Assets under Management (AUM) To request a copy of the report
Source: SEC.gov
'SMMU' Adds to PIMCO's Line Up of Municipal Bond ETFs
February 4, 2010--PIMCO, a leading global investment management firm, has launched the PIMCO Short Term Municipal Bond Strategy Fund (NYSE: SMMU), enhancing the firm's line up of actively managed exchange-traded funds (ETFs) covering the municipal yield curve.
SMMU accesses PIMCO's municipal bond expertise in building a portfolio of primarily high-quality, short maturity, AMT-free municipal bonds whose income is exempt from federal and, in some cases, state tax. The fund will be managed by John Cummings, executive vice president and head of PIMCO's municipal bond desk.
Source: PIMCO
February 4, 2010--Chairman Conrad, Ranking Member Gregg and members of the Committee, thank you for the opportunity to appear before you today to discuss the President's Fiscal Year 2011 Budget. The U.S. economy is still in the midst of one of the most challenging periods in our nation's history. We have pulled back from the brink of financial collapse and a historic recession.
The overall economy grew at an annual rate of 4 percent over the last six months of 2009, but millions of Americans remain out of work and the economic pain of the recession can still be felt throughout our nation. This crisis has caused enormous damage to the basic economic security of tens of millions of Americans.
Source: U.S. Department of the Treasury
February 4, 2010--The Dow Jones Index Data Monthly Report: U.S. Edition is now available.
view report
Source: Dow Jones Indexes
February 4, 2010--
Washington, DC - Financial Services Committee Chairman Barney Frank (D-MA) announced today the committee will hold a hearing on March 2 to begin the process of considering the future of housing finance.
The hearing will focus on all the private and public entities that support the mortgage market, which include the Federal Housing Administration, Ginnie Mae, Fannie Mae, Freddie Mac, Federal Home Loan Banks, and private lenders and securitizers. It is the first step in a legislative process to determine the future of housing finance and the federal government’s role in responsible homeownership and the supply of affordable rental housing. Chairman Frank has invited Treasury Secretary Timothy Geithner and Housing and Urban Development Secretary Shaun Donovan to present the Administration’s perspective, as well as representatives of the advocacy community, academia, and industry to present their ideas on the future of housing finance. Witnesses will be announced at a later date.
Source: House Financial Services Committee
February 3, 2010--Highlights
ETF Volume
US ETF turnover rose by 23.3% to US$66bn in the previous week. Turnover in the S&P 500 SPDR ("Spider") was US$21.7bn. The PowerShares QQQ Nasdaq 100 had turnover of US$5.7bn followed by iShares Russell 2000 with turnover of US$3.9bn.
There were three new ETFs launched in the last week. Grail Advisors LLC launched two new active bond ETFs followed by UBS which launched one new equity - Gold hedged ETF. All the listings were on NYSE Arca.
In the previous week, average daily turnover in the Large Cap, US Sector, Leveraged and Global Regional products was US$29.3bn (24.8%), US$10.8bn (21.6%), US$7.3bn (25.7%) and US$4.9bn (21.9%) respectively.
Total assets under management for equity based ETFs declined by 2% in the previous week, AUM were US$569.9bn.
Source: Source: Aram Flores and Shan Lan -DB Index Research