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PowerShares files post-effective Amendment to Form S-6
January 26, 2010--PowerShares has filed a post-effective Amendment to Form S-6 for the
BLDRS Index Fund Trust
view filing
Source: SEC.gov
PowerShares files post-effective Amendment to Form S-6
January 26, 2010--PowerShares has filed a post-effective Amendment to Form S-6 for the
PowerShares QQQ.
view filing
Source: SEC.gov
CFTC Issues Letter To CME Concerning Its "Unpersuasive" Justification For Prohibiting EFFs
January 26, 2010--ELX Futures, L.P. (ELX Futures), a new fully electronic futures exchange, received notification from the Commodity Futures Trading Commission (CFTC) staff that it had sent the CME Group a letter dated January 22, 2010 that it had “mischaracterized” the Commodity Exchange Act and found its arguments "unpersuasive" in informing market users in a self-certified market Regulatory Advisory notice issued October 19, 2009 that its rules do not permit the execution of the Exchange of Futures for Futures (EFF) Rule and users would be subject to disciplinary action.
The link to the letter is: http://www.elxfutures.com/getdoc/41214997-3f65-4a58-ad8a-88efd5cfa5a8/CFTC-Letter-to-CBOT-Re-Rules-and-Interpretatio-(1).aspx
Neal Wolkoff, Chief Executive Officer of ELX Futures, said, “We commend the CFTC staff for its findings that EFF transactions are consistent with the requirements of the Commodity Exchange Act. This view is consistent with our position all along. Any further effort by the CME to thwart the EFF Rule will carry with it an unbearable weight of anti-competitive intent. The CFTC’s Core Principle 18, which prohibits an exchange from ‘imposing any material anticompetitive burden on trading,’ imposes a duty that is independent of the U.S. antitrust laws. If there truly were a market purpose – as opposed to an anti-competitive intent – to disallow the EFF, the argument would have been made already.”
The application from ELX Futures was submitted on July 6, 2009 through September 17, 2009 and approved by the CFTC on October 6, 2009.
More information can be found on our website: www.elxfutures.com
Source: ELX Futures
Emerging Markets Week in Review
January 26, 2010-Last week the Dow Jones Emerging Markets Composite Index experienced its worst weekly decline since October 2009, falling 4.76%, as markets around the world reacted negatively to lower commodities prices and uncertainty about the proposed changes to banking regulations in the U.S.
Crude oil fell to $74.09 per barrel, putting pressure on Energy and Materials stocks which were down 5.71% and 7.12%, respectively.
Consumer Goods and Financials, down 2.87% and 2.94% respectively, were the least negative of any sectors. Looking ahead to this week, markets will continue to digest the moves by the Obama administration to curb risky practices of major banks.
Source: Emerging Global Advisors
Old Mutual selects BNY Mellon to provide ETF services
January 25, 2010--Old Mutual Global Index Trackers US has selected BNY Mellon Asset Servicing to provide exchange-traded fund services for its five new ETFs.
The five ETFs are: GlobalShares FTSE All-World Fund, GlobalShares FTSE Emerging Markets Fund, GlobalShares All-Cap Asia Pacific ex Japan Fund, GlobalShares All-World ex US Fund, and GlobalShares FTSE Developed Countries ex US Fund.
The services provided by BNY Mellon include custody, fund accounting, fund administration, transfer agency services and ETF services.
read more
Source: ETF Express
BMO launches its third wave of ETFs
India, China funds are among the nine newest offerings, and more are on the drawing board.
January 25, 2010--
The third wave of exchange-traded funds sponsored by BMO Financial Group opened for trading today on the Toronto Stock Exchange.
With the newest nine on stream, BMO now sponsors 22 ETFs, up from the original four launched in June 2009 and nine ETFs added in October.
The family of BMO ETFs began the week with an estimated $200 million in assets. Though it has expanded twice in less than eight months since it began, more funds are likely to be added later this year.
All of today's new ETFs are passively managed funds that are designed to replicate an index, net of fees and expenses. But in most cases BMO has discretion to change the market benchmark. (The table below lists the indexes that the ETFs will track initially.)
| The newest BMO ETFs | ||||
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| ETF | Index to be replicated | Fee % | ||
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| BMO China Equity Hedged To CAD | No index specified | 0.65 | ||
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| BMO India Equity Hedged To CAD | No index specified | 0.65 | ||
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| BMO Nasdaq 100 Equity Hedged to CAD Index | NASDAQ-100 Index Hedged to CAD | 0.35 | ||
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| BMO Equal Weight Utilities Index | Dow Jones Canada Select Equal Weight Utilities Index | 0.55 | ||
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| BMO Global Infrastructure Index | Dow Jones Brookfield Global Infrastructure Index | 0.55 | ||
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| BMO Junior Gold Index | Dow Jones North America Select Junior Gold Index | 0.55 | ||
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| BMO Aggregate Bond Index | DEX Universe Bond Index | 0.28 | ||
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| BMO Long Corporate Bond Index | DEX Long Term Corporate Bond Index | 0.30 | ||
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| BMO Mid Corporate Bond Index | DEX Mid Term Corporate Bond Index | 0.30 | ||
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| Source: BMO Financial Group | ||||
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Source: Toronto Star
ETF Secs' US platinum, palladium inflows jump
January 25, 2010--Holdings of ETF Securities' U.S.-based platinum exchange-traded fund (PPLTiv.P) rose 10 percent on Friday, while those of its U.S. palladium product (PALLiv.P) climbed by a third, the company said on Monday.
The inflows reflect sales made two or three days prior to the recorded date at which the metal is received by the custodian, ETF Securities added.
read more
Source: Reuters
ISE Expands Options Education Program with Launch of FX Options Website
First Online Trader Community Exclusively Dedicated to FX Options
January 25, 2010--– The International Securities Exchange (ISE) today announced the launch of
www.fxoptions.com, the first online trader community exclusively dedicated to FX options. In partnership with
leading content providers, including Market News International (MNI), LearningMarkets.com, Trading Central,
Livevol and OptionSource.net, the new website provides FX options traders with access to breaking news, trade
alerts, trading and educational tools, as well as market commentary and analysis.
“We are very pleased to launch this unique online community for FX options traders,” said Bruce Goldberg, Chief
Marketing Officer at ISE. “The website meets the demands of new and experienced FX options traders alike by
providing a single point of access to extensive information about the FX market, including live educational
webinars, a virtual trading platform and trading recommendations from FX options experts.”
Among the interactive features on the new website is a virtual trading contest with cash prizes, powered by an
optionsXpress (Nasdaq:OXPS) virtual trading platform. Investors can also subscribe to trade alerts and trend
opinions on the most widely traded currencies. In addition to trading tools, video podcasts and a live webinar
series with top industry professionals, www.fxoptions.com provides direct access to FX Options TV, a weekly
online program that focuses on macro-economic events and long-term analysis of the global currency markets.
For more information, visit www.fxoptions.com.
Source: International Securities Exchange (ISE)
January 2010 Monthly Preliminary Performance Report Dow Jones-UBS Commodity Indexes
January 25, 2010--The Dow Jones-UBS Commodity Index was down -3.08% for the month of January. The Dow Jones-UBS Single Commodity Indexes for Sugar, Platinum and Tin had the strongest gains with month-to-date returns of 6.79%, 5.00%, and 4.78%, respectively.
The three most significant downside performing single commodity indexes were Corn, Soybean Oil and Soybean, which were down -12.00%, -9.98%, and -9.25% respectively, in January.
Source: MondoVisione
Dow Jones Indexes Launches Indexes for Utilities and Gold Mining in North America
January 25, 2010--Dow Jones Indexes, a leading global index provider, today launched the Dow Jones North America Select Junior Gold and the Dow Jones Canada Select Equal Weight Utilities Indexes. The Dow Jones North America Select Junior Gold Index measures the performance of gold mining companies in Canada and the U.S.; whereas the Dow Jones Canada Select Equal Weight Utilities Index comprises larger Canadian utilities companies.
Both indexes have been licensed to BMO Financial Group in connection with two new BMO exchange-traded funds (ETFs) that are available today on the Toronto Stock Exchange and will be managed and administered by Jones Heward Investment Counsel Inc., a wholly-owned indirect subsidiary of Bank of Montreal.
"The Dow Jones North America Select Junior Gold Index and the Dow Jones Canada Select Equal Weight Utilities Index are both unique index concepts that represent Dow Jones Indexes' flexible and reliable approach to indexing," said Michael A. Petronella, president, Dow Jones Indexes. "Via the two new BMO ETFs launched by BMO Financial Group, Canadian investors now have further innovative options to diversify their portfolios on a sector and regional level."
The Dow Jones North America Select Junior Gold Index is calculated in Canadian and U.S. dollar and reviewed annually in December. Float factors, shares outstanding and the index weighting scheme are rebalanced quarterly. The index is weighted based on float-adjusted market capitalization with a 15% cap on individual components applied quarterly. The Dow Jones North America Select Junior Gold Index has a minimum component count of seven companies.
The Dow Jones Canada Select Equal Weight Utilities Index is calculated in Canadian and U.S. dollar and reviewed in June and December. The index is equal weighted and has a minimum component count of five companies.
As of January 22, 2010, the Dow Jones North America Select Junior Gold Index and the Dow Jones Canada Select Equal Weight Utilities Index show an annualized performance since inception of 15.67% and 12.91% respectively.
Source: Dow Jones Indexes