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Treasury International Capital Data For September
November 17, 2009--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for September 2009. The next release, which will report on data for October 2009, is scheduled for December 15, 2009.
Net foreign purchases of long-term securities were $40.7 billion.
Net foreign purchases of long-term U.S. securities were $55.7 billion. Of this, net purchases by private foreign investors were $44.8 billion, and net purchases by foreign official institutions were $10.9 billion.
U.S. residents purchased a net $15.0 billion of long-term foreign securities.
Net foreign acquisition of long-term securities, taking into account adjustments, is estimated to have been $31.7 billion.
Foreign holdings of dollar-denominated short-term U.S. securities, including Treasury bills, and other custody liabilities decreased $11.8 billion. Foreign holdings of Treasury bills decreased $0.3 billion.
Banks' own net dollar-denominated liabilities to foreign residents increased $113.7 billion.
Monthly net TIC flows were $133.5 billion. Of this, net foreign private flows were $148.1 billion, and net foreign official flows were negative $14.6 billion.
View report
Source: US Department of the Treasury
U.S. International Reserve Position
November 16, 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 $136,019 million as of the end of that week, compared to $134,653 million as of the end of the prior week.
I. Official reserve assets and other foreign currency assets (approximate market value, in US millions)
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November 13, 2009 |
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A. Official reserve assets (in US millions unless otherwise specified) 1 |
Euro |
Yen |
Total |
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(1) Foreign currency reserves (in convertible foreign currencies) |
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136,019 |
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(a) Securities |
10,564 |
14,504 |
25,068 |
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of which: issuer headquartered in reporting country but located abroad |
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0 |
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(b) total currency and deposits with: |
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(i) other national central banks, BIS and IMF |
15,331 |
7,074 |
22,405 |
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ii) banks headquartered in the reporting country |
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0 |
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of which: located abroad |
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0 |
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(iii) banks headquartered outside the reporting country |
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0 |
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of which: located in the reporting country |
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0 |
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(2) IMF reserve position 2 |
13,670 |
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(3) SDRs 2 |
58,454 |
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(4) gold (including gold deposits and, if appropriate, gold swapped) 3 |
11,041 |
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--volume in millions of fine troy ounces |
261.499 |
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(5) other reserve assets (specify) |
5,380 |
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--financial derivatives |
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--loans to nonbank nonresidents |
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--other (foreign currency assets invested through reverse repurchase agreements) |
5,380 |
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B. Other foreign currency assets (specify) |
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--securities not included in official reserve assets |
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--deposits not included in official reserve assets |
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--loans not included in official reserve assets |
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--financial derivatives not included in official reserve assets |
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--gold not included in official reserve assets |
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--other |
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view report
Source: US Department of the Treasury
CBOE Options Update - Weeklys, Quarterlys, Implied Correlation Index, VIX, SPX, Symbology, Risk Mgt. Conference
November 17, 2009--WEEKLYS(SM) OPTIONS – record volume for one-week options
-- S&P 500(R) (SPX) weeklys options had record average daily volume of 17,118 in October 2009.
-- S&P 100(R) (OEX) weeklys options had record average daily volume of 16,211 in October 2009.
http://www.cboe.com/weeklys
QUARTERLYS OPTIONS - options with end-of-quarter expiration S&P 500 (SPX) Quarterlys options had average daily volume of 6,710 contracts in September 2009 http://www.cboe.com/quarterlys
CBOE S&P 500 IMPLIED CORRELATION INDEX
-- The first widely disseminated, market-based estimate of the average correlation of the stocks that comprise the S&P 500 Index (SPX)
-- Offers insight into the relative cost of SPX options compared to the price of options on individual stocks that comprise the S&P 500
http://www.cboe.com/impliedcorrelation
VIX(R) - FUTURES AND OPTIONS on the CBOE Volatility Index(R)
-- In October VIX options average daily volume was 156,001, and open interest was 2,586,794.
-- In October VIX futures volume set a new all-time high with 187,628 contracts traded, besting the previous record of 173,864 contracts in November 2007.
-- Researchers at the University of Massachusetts have published a study entitled "VIX Futures and Options—A Case Study of Portfolio Diversification During the 2008 Financial Crisis", which found that certain investments in VIX futures and options could have reduced downside risk for a typical institutional investment portfolio during the 2008 financial crisis.
http://www.cboe.com/VIX
S&P 500(R) (SPX) OPTIONS
In October the SPX options experienced --
- 5,472,039 call option volume
- 9,620,593 put option volume- 686,029 average daily volume
- 14,114,414 open interest
http://www.cboe.com/SPX
OPTIONS SYMBOLOGY INITIATIVE
The Options Symbology Initiative is an industry-led project designed to modernize how U.S. listed options are identified.
There are three main components of OSI:
1. Shift from fractional strike prices to decimal strike prices
2. Elimination of the OPRA code (the last two letters of the current options symbol)
3. Consolidation of standard options symbols to match the underlying root symbol
http://www.optionsclearing.com/symbology
26TH ANNUAL RISK MANAGEMENT CONFERENCE
-- The Risk Management Conference, hosted by the Chicago Board Options Exchange (CBOE) and the CBOE Futures Exchange (CFE), is an educational forum where institutional users of equity derivatives come to learn about new products, policies and strategies to manage risk exposures and enhance yields.
-- The conference will be held Sunday through Tuesday, March 7-9, 2010 at the Ritz-Carlton Golf Resort at Naples, Florida.
http://www.cboeRMC.com
Source: CBOE
Invesco PowerShares Lists Build America Bond ETF (BAB) on NYSE ARCA
November 17, 2009--Invesco PowerShares, a leading provider of exchange-traded funds (ETFs), announced the PowerShares Build America Bond Portfolio began trading today on the NYSE Arca under the ticker symbol BAB. The portfolio is the first ETF designed to provide investors access to the Build America Bond program developed as part of the federal stimulus plan enacted in February 2009.
“With more than $48 billion in Build America Bonds being issued thus far, we have seen a great deal of interest in the program; however, retail investors for the most part have had limited access to this important market,” said Ben Fulton, executive vice president – global product development of Invesco PowerShares. “We believe the PowerShares Build America Bond Portfolio provides a convenient, cost effective way to invest in taxable, investment grade municipal bonds, which tend to have yields commensurate with similarly rated corporate bonds. Furthermore, we believe the fund will bring much-needed liquidity to a market that will be pivotal in the rebuilding of America’s infrastructure.” Since 1997, 10-year AAA-rated taxable municipal bonds have, on average, yielded just five basis points less than 10-year AAA-rated corporate bonds.1
The PowerShares Build America Bond Portfolio is based on the BofA Merrill Lynch Build America Bond Index. The Fund will normally invest at least 80% of its total assets in the securities that comprise the index. The index is designed to track the performance of U.S. dollar-denominated investment grade taxable municipal debt publicly issued under the Build America Bond program in the U.S. domestic market.
Qualifying securities must have an investment grade rating, a fixed coupon schedule and a minimum amount outstanding of $1 million. In addition, qualifying securities must be “direct pay” (i.e., a direct federal subsidy is paid to the issuer). Securities included in the index are capitalization-weighted based on their current amount outstanding, and the index is rebalanced on a monthly basis.
The Build America Bond program was created under the American Recovery and Reinvestment Act of 2009, which provides for the issuance of taxable municipal securities on which the issuer receives federal support of the interest paid. Unlike most other municipal obligations, interest received on Build America Bonds is subject to federal income tax. Issuers of “direct pay” Build America Bonds (i.e., taxable municipal bonds issued to provide funds for qualified capital expenditures) are entitled to receive payments from the U.S. Treasury over the life of the bond equal to 35% (or 45% in the case of Recovery Zone Economic Development Bonds) of the interest paid. The federal interest subsidy continues for the life of the bonds.
Build America Bonds offer an alternative form of financing to state and local governments whose primary means for accessing the capital markets has been through issuance of tax-free municipal bonds. Issuance of Build America Bonds will cease on Dec. 31, 2010, unless the relevant provisions of the American Recovery and Reinvestment Act of 2009 are extended. In the event that the Build America Bond program is not extended, the portfolio anticipates changing its investment strategy to invest in an index composed of taxable municipal securities.
Invesco PowerShares Capital Management LLC is leading the intelligent ETF revolution® through its family of more than 110 domestic and international exchange-traded funds, which seek to outperform traditional benchmark indexes while providing advisors and investors access to an innovative array of focused investment opportunities. With franchise assets of $41 billion as of Sept. 30, 2009, PowerShares ETFs trade on both U.S. stock exchanges. For more information, please visit us at www.invescopowershares.co
Source: Invesco PowerShares
First Trust Launches New Exchange Traded Fund (GRID) Based on NASDAQ OMX(R) Clean Edge(R) Smart Grid Infrastructure Index
First Investment Product Based on the Index
November 17, 2009--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), Clean Edge,
Inc., and First Trust Advisors L.P. have announced the launch of a new
exchange traded fund (ETF) - the First Trust NASDAQ(R) Clean Edge(R)
Smart Grid Infrastructure Index Fund (Nasdaq:GRID). It is based on the
NASDAQ(R) Clean Edge(R) Smart Grid Infrastructure Index(SM)
(Nasdaq:QGRD), a benchmark for the smart grid and electric
infrastructure sector. The ETF is managed by First Trust Advisors L.P.
and listed on NASDAQ.
GRD is a modified market-capitalization index and includes companies
that are primarily involved in electric grid; electric meters, devices
and networks; energy storage and management; and enabling software used
by the smart grid and electric infrastructure sector.
First Trust's ETF, GRID, is designed to correspond to the price and yield performance of the index on which it is based. ETFs are financial products that trade like shares of stock and can be bought and sold throughout the trading day.
"First Trust has filled the need for an investment product based on an index that has brought sharper focus to an industry that is transforming our nation's energy grid," said NASDAQ OMX Executive Vice President John Jacobs. "This ETF reflects First Trust's commitment to extending its suite of products to broaden investor choice."
"This is the first ETF to track a smart grid and electric infrastructure index," said Ron Pernick, Clean Edge Co-Founder and Managing Director. "First Trust continues to demonstrate leadership and to build a strong presence in the clean-energy sector."
"With a growing demand for electricity and the increasingly inefficient infrastructure, the current power grid is unable to keep up with the twenty first century technology," according to Ryan Issakainen, Vice President, Exchange-Traded Fund Strategist for First Trust Portfolios. "There's a growing movement towards a next generation power grid - Smart Grid. Electricity is one of the largest and most capital intensive sectors in our economy and we are tremendously excited about the potential that this industry represents."
The NASDAQ OMX(R) Clean Edge(R) Smart Grid Infrastructure Index is calculated in real-time across the combined exchanges and is disseminated by NASDAQ OMX in U.S. Dollars. The Index commenced calculation on September 22, 2009 with a value of 250.00.
The NASDAQ OMX(R) Clean Edge(R) Smart Grid Infrastructure Index is
comprised of companies that are screened by Clean Edge. To view the
companies in the NASDAQ OMX(R) Clean Edge(R) Smart Grid Infrastructure
Index, visit www.nasdaqomx.com/indexes.
Source: NASDAQ OMX
President Obama Establishes Interagency Financial Fraud Enforcement Task Force
Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and NOVEMBER 17, 2009--Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat financial crime.
The Department of Justice will lead the task force and the Department of Treasury, HUD and the SEC will serve on the steering committee. The task force's leadership, along with representatives from a broad range of federal agencies, regulatory authorities and inspectors general, will work with state and local partners to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, address discrimination in the lending and financial markets and recover proceeds for victims.
The task force, which replaces the Corporate Fraud Task Force established in 2002, will build upon efforts already underway to combat mortgage, securities and corporate fraud by increasing coordination and fully utilizing the resources and expertise of the government's law enforcement and regulatory apparatus. The attorney general will convene the first meeting of the Task Force in the next 30 days.
read more
Source: SEC.gov
Invesco Trimark climbs on ETF wagon
November 16, 2009--In a dramatic move that will reshape the Canadian investment landscape for both financial advisors and their clients, Invesco Trimark Ltd. on Monday becomes the first domestic broker-sold mutual-fund company to embrace exchange-traded funds (ETFs).
Invesco Trimark's eight new PowerShares funds, launched Monday, are a hybrid of ETFs and mutual funds. Inside these prospectus mutual funds are versions of PowerShares ETFs trading on U.S. stock exchanges, as well as two new funds focused on Canadian securities and dividend-paying stocks.
read more
Source: Financial Post
Barclays Global Investors Lists the iShares® Diversified Alternatives Trust on NYSE Arca
November 16, 2009--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the iShares® Diversified Alternatives Trust (Ticker: ALT). The trust is sponsored by iShares® Delaware Trust Sponsor LLC.
The investment objective of the trust will be to maximize absolute returns from its portfolio of foreign currency forward contracts and exchange-traded futures contracts that may involve commodities, currencies, interest rates and certain eligible stock or bond indices while seeking to reduce the risks and volatility inherent in those investments by taking long and short positions in historically correlated assets.
The trust also expects to earn interest on the assets used to collateralize its trading positions. The return on assets in the portfolio, if any, will not be intended to track the performance of any index or other benchmark.
Source: NYSE Euronext
Index IQ files prospectus with the SEC
November 16, 2009--Index IQ has filed a prospectus with the SEC for 13 ETFs.
IQ Intl Australia Small Cap ETF
IQ Intl Canada Small Cap ETF
IQ Intl Hong Kong Small Cap ETF
IQ Intl Indonesia Small Cap ETF
IQ Intl Malaysia Small Cap ETF
IQ Intl Singapore Small Cap ETF
IQ Intl South Korea Small Cap ETF
IQ Intl Taiwan Small Cap ETF
IQ Intl Thailand Small Cap ETF
IQ Global Natural Gas Small Cap Equity ETF
IQ Global Crude Oil Small Cap Equity ETF
IQ Global Gold Small Cap Equity ETF
IQ Global Agribusiness Small Cap Equity ETF
view filing
Source: SEC.gov
Fidelity files prospectus with the SEC
November 16, 2009--Fidelity Investments has filed a prospectus with the SEC for
Fidelity® Nasdaq Composite® Index Fund-Tickier:FNCMX
Investment Objective
The fund seeks to provide investment returns that closely correspond to the price and yield performance of the Nasdaq Composite Index (Index).
view filing
Source: SEC.gov