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Legg Mason files with the SEC
November 23, 2011--Leggs Mason has filed a registration statement with the SEC for the Legg Mason Western Asset Ultra-Short Duration ETF.
view filing
Fed to test six big U.S. banks for Euro stress
November 22, 2011--The U.S. Federal Reserve plans to stress test six large U.S. banks against a hypothetical market shock, including a deterioration of the European debt crisis, as part of an annual review of bank health.
The Fed said it will publish next year the results of the tests for six banks that have large trading operations: Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo.
"They are clearly worried about the issue of Europe," said Nancy Bush, a longtime bank analyst and contributing editor at SNL Financial. "In a time of risk aversion and concern, you need transparency."
Blackrock's Big Push for ETF Transparency
November 22, 2011-- ETF industry leader Blackrock(BLK_) is on a mission. The goal: inject a hearty dose of transparency into the global ETF universe.
As indicated by the National Stock Exchange's fund flow reports at the start of each month, ETFs have taken off in a major way here in the United States. In the years following the initial launch of the first ETF, SPDR S&P 500 ETF(SPY_), the number of instruments available to U.S. investors has ballooned to over 1,000, and total assets have ascended above the $1 trillion mark. Around the world, the number of ETFs products has surpassed 2,000
CFTC Seeks Public Comment on Request from ICE Clear Credit for Order Permitting Portfolio Margining of Swaps and Security-Based Swaps in a Customer Account
November 22, 2011--The Commodity Futures Trading Commission (Commission) is requesting public comment on a petition submitted by ICE Clear Credit LLC (ICC) for an order pursuant to Section 4d(f) of the Commodity Exchange Act (Act).
The petition requests an order that would set forth terms and conditions under which ICC and its clearing members that are dually registered as futures commission merchants and securities broker-dealers would be permitted to (1) commingle in an account subject to Section 4d(f) of the Act (a cleared swaps customer account) positions in swaps and security-based swaps and related customer money, securities and property; and (2) portfolio margin the swaps and security-based swaps held in the cleared swaps customer account.
Minutes of the Federal Open Market Committee
November 22, 2011--The Federal Reserve Board and the Federal Open Market Committee on Tuesday released the attached minutes of the Committee meeting held on November 1-2, 2011. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the November 1-2, 2011 meeting is also included as an addendum to these minutes.
The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board's Annual Report. Summaries of economic projections are released on an approximately quarterly schedule. The descriptions of economic and financial conditions contained in these minutes and in the Summary of Economic Projections are based solely on the information that was available to the Committee at the time of the meeting.
view the Minutes of the Federal Open Market Committee
Global X files with the SEC
November 22, 2011--Global X has filed a post-effective amendment, registration statement with the SEC for the
Global X NASDAQ 500 ETF
NASDAQ: QQQV, the
Global X NASDAQ 400 Mid Cap ETF
NASDAQ: QQQM
Global X NASDAQ 100 Global Technology Index ETF
NASDAQ: QQQT
Van Eck files with the SEC
November 21, 2011--Van Eck has filed a psot-effective amendment no. 528, registration statement with the SEC. This filing soley applies to the Market Vectors Biotech ETF, Market Vectors Bank and Brokerage ETF, Market Vectors Oil Services ETF, Market Vectors Pharmaceutical ETF,
Market Vectors Retail ETF and Market Vectors Semiconductor ETF.
PowerShares files with the SEC
November 21, 2011--PowerShares has filed a post-effective amendment, registration statement with the SEC for the PowerShares KBW Bank Portfolio
PowerShares KBW Regional Banking Portfolio.
PowerShares KBW Capital Markets Portfolio
PowerShares KBW Insurance Portfolio
State Street files with the SEC
November 21, 2011--State Stret has filed a post-effective amendment No.76, registration statement with the SEC.
view filing
Direxion files with the SEC
November 21, 2011--Direxion has filed a post-effective amendment No. 56, registration statement with the SEC.
view filing
BM&FBOVESPA options on equities: exercise volume reaches BRL 4.86 billion
November 21, 2011--The exercise volume of options on equities, Bovespa segment, reached on November, 21 BRL 4,86 billion, of which BRL 3,61 billion in call options and BRL 1,24 billion in put options. The options that registered the greatest financial volume on November, 21’s exercise were as follows:
Vale PNA at BRL 38.14 per share generated BRL 474.07 million in call options;
Vale PN at BRL 40.14 per share generated BRL 348.09 million in call options;
Vale PNA at BRL 34.14 per share generated BRL 319.47 million in call options;
Vale PNA at BRL 36.14 per share generated BRL 279.58 million in call options;
PETR PN at BRL 19.66 per share generated BRL 273.20 million in call options.
BM&FBOVESPA options on equities: exercise volume reaches BRL 4.86 billion
November 21, 2011--The exercise volume of options on equities, Bovespa segment, reached on November, 21 BRL 4,86 billion, of which BRL 3,61 billion in call options and BRL 1,24 billion in put options.
The options that registered the greatest financial volume on November, 21’s exercise were as follows:
Vale PNA at BRL 38.14 per share generated BRL 474.07 million in call options;
Vale PN at BRL 40.14 per share generated BRL 348.09 million in call options;
US funds cut exposure to European banks
November 21, 2011--The largest US money market funds cut their exposure to European banks to another record low last month, intensifying concerns over a wholesale funding run on the region’s banks and the potential for an ensuing credit crunch.
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The 10 biggest funds trimmed their short-term lending to European banks by 9 per cent on a US dollar basis between the end of October and the end of September, according to new data from Fitch Ratings. That takes money funds’ European bank exposure to 34.9 per cent of the funds’ total assets of $642bn, down from 37.7 per cent of fund assets at the end of September.
Morgan Stanley-ETF Weekly Update
November 21, 2011--Weekly Flows: $939 Million Net Inflows
ETF Assets Stand at $1 Trillion, up 4% YTD
Launches: 3 New ETFs
AdvisorShares Announces Sub-Adviser Change
US-Listed ETFs: Estimated Flows by Market Segment
ETFs posted net inflows of $939 mln last week; second consecutive week of net inflows
Last week’s net inflows were led by Fixed Income and Commodity ETFs (combined $2.9 bln)
ETF assets stand at $1 tln, up 4% YTD (due to net inflows)
13-week flows were mostly positive among asset classes; combined $43.2 bln net inflows
Fixed Income ETFs have exhibited the greatest net inflows the past 13 weeks ($15.5 bln net inflows)
We estimate ETFs have generated net inflows 28 out of 46 weeks in 2011
Net inflows of $100.1 bln YTD are 12% above net inflows of $89.3 bln at the same point last year
US-Listed ETFs: Estimated Largest Flows by Individual ETF
SPDR Gold Trust (GLD) posted net inflows of $1.4 bln last week, the most of any ETF
GLD has exhibited net inflows for four consecutive weeks and has led ETF net inflows for each of the past two
weeks; GLD has posted net inflows of $1.4 bln YTD
Vanguard MSCI Emerging Markets ETF (VWO) had the largest net outflows last week as investors dialed back
risk; despite last week’s net outflows, YTD VWO has posted net inflows of $7.8 bln
US-Listed ETFs: Change in Short Interest
Data Unchanged: Based on data as of 10/31/11
QQQ exhibited the largest increase in USD short interest since last updated
$498 million in additional short interest
QQQ’s shares short remain near their high over the past year
IWM exhibited the largest decline in USD short interest since last updated
$1.7 billion in reduced short interest
Shares short for IWM have been drifting lower the past two periods
US-Listed ETFs: Most Successful Recent Launches by Assets
$6.8 billion in total market cap of ETFs less than 1-year old
Over past 13 weeks, newly launched US Dividend Income ETFs generated most net inflows ($512 mln)
218 new ETF listings and 9 liquidations in 2011
Newly issued defensive portfolios have been successful in garnering assets
Top 10 account for $3.2 bln in market cap and posted net inflows of $1.1 bln over last 13 weeks
PowerShares S&P 500 Low Volatility Portfolio (SPLV) and iShares High Dividend Equity Fund (HDV)
have been two standout launches over the past year
UBS Announces name changes to EIPO and EIPL ETNs and related index
November 21, 2011--UBS Investment Bank announced today that the ETRACS Internet IPO ETN (NYSE:
EIPO), the Monthly 2xLeveraged ETRACS Internet IPO ETN (NYSE: EIPL) and the UBS Internet IPO Index (NYSE: NETIPO)
will now be referred to as the ETRACS Next Generation Internet ETN, the ETRACS Monthly 2xLeveraged Next
Generation Internet ETN and the UBS Next Generation Internet Index, respectively.
Symbol: EIPO
New Name: ETRACS Next Generation Internet ETN
Current Name: ETRACS Internet IPO ETN
Symbol: EIPL
New Name: ETRACS Monthly 2xLeveraged Next
Generation Internet ETN
Current Name: Monthly 2xLeveraged ETRACS Internet IPO ETN
Symbol: NETIPO
New Name: UBS Next Generation Internet Index
Current Name: UBS Internet IPO Index
