Americas ETP News Older Than 1 year
If your looking for specific news, using the search function will narrow down the results
World Trade Organization ruling may help open Chinese market to U.S. media
The WTO appellate body upholds an August panel decision that Beijing broke international rules in restricting market access to foreign films, DVDs and other cultural products.
December 22, 2009--The World Trade Organization issued an expected but nonetheless important ruling Monday that takes the U.S. a step closer to opening up China's potentially lucrative market for its movies, music and books.
In a ruling hailed by Hollywood in particular, the WTO appellate body upheld an August panel decision that China broke international rules in restricting market access to foreign films, DVDs and other cultural products.
read more
Source: LA Times
Tri party Repurchase Agreement (Repo) Infrastructure Reform Task Force Releases Progress Report
December 22, 2009-The Payments Risk Committee (PRC) today announced the publication of a progress report on the work of the Tri party Repurchase Agreement (Repo) Infrastructure Reform Task Force.
In the interest of transparency and to make the Task Force's ideas available to a broader audience, the progress report summarizes the Task Force's progress to date, including draft recommendations and proposals under consideration. The Task Force is continuing this work and plans to release additional proposals in 2010. The report includes the following draft recommendations:
proposals in 2010. The report includes the following draft recommendations:
Implement multiple operational improvements,
Strengthen collateral margining practices,
Enhance liquidity risk management practices,
Identify sound practices for contingency planning by tri-party repo cash investors for a possible dealer default,
Improve the transparency of the tri-party repo market.
The objective of the Tri-party Repurchase Agreement Infrastructure Reform Task Force is to develop a set of recommendations for improving and mitigating risks related to the infrastructure supporting tri-party repo transactions, given the important role such transactions play in supporting the liquidity and efficiency of U.S. securities markets.
The Task Force continues to meet regularly, since its creation in September 2009 by the Payments Risk Committee (PRC), to discuss enhancements to the policies, procedures, and systems supporting the tri-party repo market. The Task Force includes major tri-party repo market participants, service providers, industry groups, and others. The Federal Reserve Bank of New York provides support and input on technical and policy issues, as appropriate.
view the report
Source: Payment Risk Committe
Standard & Poor's Announces Changes in the S&P/TSX Canadian Indices
December 22, 2009--Standard & Poor's Canadian Index Operations announces the following index changes:
The Series E First Preferred Shares of Great-West Lifeco Inc. (TSX:GWO.PR.X) have been called for redemption on Thursday, December 31, 2009, at $26.00 per share.
The shares will be removed from the S&P/TSX Preferred Share Index after the close of Wednesday, December 30, 2009.
The 5.75% First Preferred Shares, Series A, of IGM Financial Inc. (TSX:IGM.PR.A) have been called for redemption on Thursday, December 31, 2009, at $26.00 per share. The shares will be removed from the S&P/TSX Preferred Share Index after the close of Wednesday, December 30, 2009.
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
Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices
December 22, 2009-Standard & Poor's Canadian Index Operations announces the following index changes:
The shareholders of Verenex Energy Inc. (TSX:VNX) have accepted the $CDN7.28 cash per share offer from the Libyan Investment Authority (LIA). Verenex will be removed from the S&P/TSX SmallCap and Equity SmallCap indices effective after the close of Thursday, December 24, 2009.
Following the conversion of Cathedral Energy Services Income Trust to a corporate structure, Cathedral Energy Services Ltd. will be added to the S&P/TSX Equity SmallCap Index effective after close on Thursday, December 24, 2009.
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
U.S. International Reserve Position
December 21, 2009--The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $133,834 million as of the end of that week, compared to $135,251 million as of the end of the prior week.
I. Official reserve assets and other foreign currency assets (approximate market value, in US millions)
|
|
|
|||
|
|
December 18, 2009 |
|||
|
A. Official reserve assets (in US millions unless otherwise specified) 1 |
Euro |
Yen |
Total |
|
|
(1) Foreign currency reserves (in convertible foreign currencies) |
|
|
133,834 |
|
|
(a) Securities |
10,197 |
14,222 |
24,419 |
|
|
of which: issuer headquartered in reporting country but located abroad |
|
|
0 |
|
|
(b) total currency and deposits with: |
|
|
|
|
|
(i) other national central banks, BIS and IMF |
14,713 |
7,163 |
21,876 |
|
|
ii) banks headquartered in the reporting country |
|
|
0 |
|
|
of which: located abroad |
|
|
0 |
|
|
(iii) banks headquartered outside the reporting country |
|
|
0 |
|
|
of which: located in the reporting country |
|
|
0 |
|
|
(2) IMF reserve position 2 |
13,521 |
|||
|
(3) SDRs 2 |
57,815 |
|||
|
(4) gold (including gold deposits and, if appropriate, gold swapped) 3 |
11,041 |
|||
|
--volume in millions of fine troy ounces |
261.499 |
|||
|
(5) other reserve assets (specify) |
5,163 |
|||
|
--financial derivatives |
|
|||
|
--loans to nonbank nonresidents |
|
|||
|
--other (foreign currency assets invested through reverse repurchase agreements) |
5,163 |
|||
|
B. Other foreign currency assets (specify) |
|
|||
|
--securities not included in official reserve assets |
|
|||
|
--deposits not included in official reserve assets |
|
|||
|
--loans not included in official reserve assets |
|
|||
|
--financial derivatives not included in official reserve assets |
|
|||
|
--gold not included in official reserve assets |
|
|||
|
--other |
|
|
|
|
read more
Source: U.S. Department of the Treasury.
PAX World files with the SEC
December 21, 2009-PAX World has filed a registration statement with the SEC for
ESG Shares FTSE KLD North America Sustainability Index Fund
Cusip Number: 70422P107
Trading Symbol: NASI
Total Annual Fund Operating Expenses:0.50%
ESG Shares FTSE KLD Europe Asia Pacific Sustainability Index Fund
Cusip Number:70422P206
Trading Symbol: EAPS
Total Annual Fund Operating Expenses:0.55%
view filing
Source: SEC.gov
TDX Independence Funds files for exemptive relief
December 18, 2009--TDX Independence Funds has filed a second request for exemptive relief from the SEC.
view filing
Source: SEC.gov
AdvisorShares files with the SEC
December 18, 2009--AdvisorShares has filed a request for exemptive relief from the SEC.
view filing
Source: SEC.gov
BM&FBOVESPA Launches Stock Index To Measure Returns On Brazilian Financial Sector
December 18, 2009--Beginning on the first trading day of 2010, the BM&FBOVESPA Financial Index will be calculated and disclosed, in real-time.
The Brazilian Securities, Commodities and Futures Exchange will begin, on 4 January 2010, to calculate and disclose the BM&FBOVESPA Financial Index, in real-time. This is the Exchange’s 15th stock index and it will trade under the ticker symbol IFNC.
The IFNC index will measure the returns on stocks from the most representative companies of the Brazilian financial sector. These include banks, financial institutions, asset management firms, leasing companies, credit card issuers, and insurance companies, among others. The index’s theoretical composition will be reevaluated every four months.
The new index will enable the diversification of investment strategies, as well as allow the possibility of launching new financial derivatives, like Exchange Traded Funds (ETFs). Currently, the Exchange offers four ETFs that track the performance of Ibovespa, IBr-X 50, Mid-Large Cap, and Small Cap Index.
Basic Criteria
The index portfolio includes stocks whose added negotiability indexes represent 98% of the total value of all individual negotiability indexes, during the twelve months preceding the reevaluation. They must also have a minimum of 95% trading session presence throughout the period.
The same company can have more than one type of stock included in the portfolio, as long as each stock type meets separately the inclusion criteria. Companies with less than twelve months of listing are eligible only if they have more than six months of trading, and if they have a minimum of 95% trading session presence measured in the six months preceding the reevaluation.
The definitive portfolio will be divulged on January 4th, 2010, together with BM&FBOVESPA’s other indexes.
Source: BM&FBOVESPA
Dollar bull ETF to issue new shares as dollar gains
U.S dollar ETF to issue 240 mln shares as volume spikes
December 18, 2009--The PowerShares DB US Dollar Index Bullish Fund (UUP.P) is seeking to issue 240 million new shares to keep up with demand from investors betting the U.S. currency will continue to rally.
Volume in the exchange traded fund, which tracks the U.S. dollar, has spiked sharply in recent days.
The fund has rallied nearly 5 percent since late October and has coincided with a bout of strength in the U.S. dollar index .DXY, which has added 4.4 percent over the same time.
read more
Source: Reuters