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Van Eck Launches Investment Grade Floating Rate ETF
April 26, 2011--New York-based asset manager Van Eck Global announced today that it has launched Market Vectors Investment Grade Floating Rate ETF (NYSE Arca: FLTR), an exchange-traded fund (ETF) that seeks to track, before fees and expenses, the Market Vectors Investment Grade Floating Rate Index (MVFLTR), an index consisting of a portfolio of corporate U.S. dollar-denominated investment grade floating rate notes.
FLTR represents a first-of-its-kind floating rate investment product because of its investment grade focus. Approximately $63 Billion* are invested in floating rate mutual funds, most of which are invested in low quality, non-investment grade bank loans (aka senior loans or leveraged loans). FLTR is an innovative departure from typical floating rate funds because its underlying index tracks a portfolio of high quality, floating rate notes rather than tracking bank loans.
ETFs in Retirement Plans, The Next Frontier for TD Ameritrade
April 25, 2011--Exchange-traded funds are likely to grab a “significant” share of the 401(k) market in coming years, according to Skip Schweiss, president of TD Ameritrade Trust Co.
And TD Ameritrade plans to be part of the equation. The company has rolled out an investment program that allows plan sponsors and independent registered investment advisors to offer ETFs to 401(k) participants alongside mutual funds, collective investment funds, employer stocks and other options.
“We’re seeing a growing interest and demand in putting ETFs in retirement plans,” says Schweiss. “It fact, we’re starting to see some breakthroughs in the ability to provide them.”
Morgan Stanley-US ETF Weekly Update
April 25, 2011--US ETF Weekly Update
Weekly Flows: $2.2 Billion Net Inflows
ETF Assets Stand at $1.1 Trillion, up 10% YTD
ETFs Traded $244 Billion Last Week
Launches: 13 New ETFs
US-Listed ETFs: Estimated Flows by Market Segment
ETF flows rebounded last week, generating net inflows of $2.2 billion
US Large-Cap ETFs led the way, exhibiting net inflows of $911 million
ETF assets stand at $1.1 trillion, up 10% YTD; combination of market appreciation and net new money
13-week flows were mostly positive among asset classes
$26.3 billion net inflows into ETFs over past 13 weeks (International-Developed & FI took in $16.8 billion)
US Large-Cap ETFs were the biggest drag on flows over the past 13 weeks ($6.3 billion net outflows)
We estimate ETFs have generated net inflows 11 out of 16 weeks YTD
US-Listed ETFs: Estimated Largest Flows by Individual ETF
SPDR S&P 500 ETF (SPY) generated net inflows of $569 million last week, the most of any ETF
Despite recent net inflows, the SPDR S&P 500 ETF (SPY) had the largest net outflows over the past 13 weeks ($8.4 billion net outflows)
iShares MSCI Japan Index Fund (EWJ) has exhibited the greatest net inflows over the past 13 weeks ($2.8 billion net inflows)
Teucrium files with the SEC
April 25, 2011--Teucrium has filed a FORM S-1 with the SEC for the Teucrium Agricultural Fund.
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CFTC.gov Commitments of Traders Reports Update
April 22, 2011---CFTC.gov Commitments of Traders Reports have been updated for the week of April 19, 2011 and are now available.
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Van Eck files with the SEC
April 22, 2011--Van Eck has filed a post effective amendment, registration statement with the SEC for the Market Vectors Russia Small-Cap ETF.
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iShares files with the SEC
April 21, 2011--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares S&P/Citigroup International Treasury Bond Fund.
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Dow Jones hits 33-month high
April 21, 2011--A slew of strong earnings reports from big industry names such as Apple and General Electric helped boost Wall Street for another session and lifted the Dow Jones Industrial Average to a 33-month high.
Apple’s second-quarter results blew past forecasts, with the company posting a 95 per cent jump in earnings after the closing bell on Wednesday. The technology giant reported earnings of $5.99bn in the quarter, or $6.40 a share, sharply ahead of the $5.37 expected by analysts.
Statement on the Formation of an Energy Markets Working Group
Statement of CFTC Commissioner Bart Chilton on the Formation of an Energy Markets Working Group-Commissioner Bart Chilton
April 21, 2011-“This kind of constructive cooperation and coordination is exactly the type of focused effort we need in government. Consumers are having their wallets siphoned every time they fill up their gas tanks. Filling up the car has become the second highest item in the household budgets of many families.
I look forward to the group’s work, especially in rooting out fraud, abuse or manipulation in the energy markets. I remain convinced that excessive speculation is a part of the problem and should be part of the group’s focus, too. There are multi-agency issues in investigations that can benefit from the unwavering specificity of such a working group. The Administration has done the right thing by trying to get to the bottom of the pump price push.”
Standard & Poors Announces Changes In The S&P/TSX Venture Composite Index
April 21, 2011--Standard & Poorswill make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Thursday, April 21, 2011:
The shares of the company will graduate to trade on the TSX under the same ticker symbol. The shares of the company will also be consolidated on a 1-for-5 basis.
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.
PowerShares DB Commodity Index Tracking Fund (DBC) Celebrates Five-Year Anniversary
April 20, 2011--DB Commodity Services LLC, a wholly-owned subsidiary of Deutsche Bank AG, and Invesco PowerShares Capital Management LLC, a leading provider of exchange-traded funds (ETFs), are commemorating the five-year anniversary of the PowerShares DB Commodity Index Tracking Fund (NYSE Arca: DBC), the first and largest broad-based commodity ETF listed in the U.S.
DBC, the original commodity ETF designed with a rules-based index methodology, helps investors minimize the effects of negative roll yield that can be experienced with conventional commodity indexes.
Since its inception, DBC has outperformed two benchmark broad commodity indexes as well as the S&P 500. For the five-year period ending March 31, 2011, DBC achieved a cumulative total return of 36.14% based on NAV (net asset value), significantly outperforming the two benchmark broad commodity indexes, which had a cumulative total returns ranging between -15.61% and 13.50%
CFTC to Hold Open Meeting on Fourteenth Series of Proposed Rules under the Dodd-Frank Act
April 20, 2011-- The Commodity Futures Trading Commission (CFTC) will hold a public meeting on Wednesday, April 27, 2011, at 9:30 a.m. to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act on the following topics:
Capital Requirements of Swap Dealers and Major Swap Participants;
Protection of Cleared Swaps Customer Contracts and Collateral and Conforming Amendments to the Commodity Broker Bankruptcy Provisions;
Product Definitions Contained in Title VII of the Dodd-Frank Act; and
Amendments to Adapt Certain CFTC Regulations to the Dodd-Frank Act.
First Trust files with the SEC
April 20, 2011-First Trust has filed a post-effective amendment, registration statement with the SEC for the First Trust ISE Cloud Computing Index Fund.
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Pimco files with the SEC
April 20, 2011-Pimco has filed a post-effective amendment, registration statement with the SEC for the PIMCO Total Return Exchange-Traded Fund an actively-managed ETF.
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NASDAQ OMX Reports Record First Quarter 2011 Results
Non-GAAP Diluted EPS of $0.61 Represents 42% Increase Over Q110 Results
April 20, 2011---- The NASDAQ OMX Group, Inc. (NASDAQ OMX) (Nasdaq:NDAQ) reported strong results for the first quarter of 2011. Net income attributable to NASDAQ OMX for the first quarter of 2011 was $104 million, or $0.57 per diluted share, compared with $137 million, or $0.69 per diluted share, in the fourth quarter of 2010, and $61 million, or $0.28 per diluted share, in the first quarter of 2010.
Included in the first quarter of 2011 results are $9 million of expenses associated with merger and strategic initiatives, a sublease loss reserve, and other items.
Financial Highlights:
Net exchange revenues were $415 million, a 15% increase over Q110 results.
Non-GAAP operating income improved to $190 million, up 19% from the prior year quarter, while operating margins increased to 46%.
Non-GAAP Net Income was $110 million, an increase of 20% over Q110 results.
Non-GAAP diluted EPS increased to $0.61, up from $0.43 in the prior year quarter.
GAAP diluted EPS increased to $0.57, up $0.29 from $0.28 in the first quarter of 2010.
