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PowerShares fies with the SEC
Sptember 3, 2010--PowerShares has filed a post-effective amendment, registration statement with the SEC for
PowerShares KBW Premium Yield Equity REIT Portfolio (KBWY)<
PowerShares KBW High Dividend Yield Financial Portfolio (KBWD)
PowerShares KBW Global ex-U.S. Financial Sector Portfolio (KBWX)
PowerShares KBW Property & Casualty Insurance Portfolio (KBWP)
PowerShares files with the SEC
September 3, 2010--Powershares Actively Managed Exchange-Traded Fund Trust has filed an amended application for exemptive relief.
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Janus files with the SEC
September 3, 2010--Janus has filed an application for exemptive relief with the SEC for actively-managed ETFs.
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Claymore files with the SEC
September 3, 2010--Claymore has filed an application for exemptive relief with the SEC.
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Standard & Poor's Announces Change to U.S. Index
September 3, 2010---- Kaiser Aluminum Corp., will replace Superior Well Services Inc., in the S&P SmallCap 600 index after the close of trading on a date to be announced. Superior Well Services is being acquired by S&P 500 constituent Nabors Industries Ltd. in a deal expected to close soon, pending final conditions.
Standard & Poor's will monitor this transaction, and post any relevant updates on its website: www.standardandpoors.com.
Kaiser Aluminum manufactures semi-fabricated aluminum products. Headquartered in Foothill Ranch, CA, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Aluminum Sub-Industry index.
Following is a summary of the change:
S&P SMALLCAP 600 INDEX - TBA GICS ECONOMIC GICS SUB- COMPANY SECTOR INDUSTRY Kaiser ADDED Aluminum Materials Aluminum
Superior Oil & Gas Well Equipment & DELETED Services Energy Services
BlackRock Announces Further Refinements To iShares Gold Trust
September 2, 2010--BlackRock, Inc. today announced that the iShares Exchange Traded Funds (ETFs) business, the world’s largest provider of ETFs, has made further refinements to the iShares Gold Trust (NYSEArca: IAU). These changes will make the Trust the first US-listed gold ETF to be fully allocated daily. In addition, the name of the Trust has been changed to the iShares Gold Trust to more clearly reflect that the Trust holds only physical bullion, not futures.
“We continue to make refinements to the iShares Gold Trust to meet growing demand for gold investing and to meet clients’ specific needs,” said Noel Archard, Head of US iShares Product at BlackRock. “The Trust’s new custodian, JPMorgan Chase Bank, N.A., London branch, is providing daily 100% allocation of the gold bullion. We understand client concerns with exposure to unallocated gold and, as part of these refinements we've taken steps to minimize risks from unallocated gold exposure.”
Each business day, the trusts assets will be fully allocated, so that, at the end of such business day, no gold is held in unallocated form. The custodian will not allow issuances of shares on unallocated amounts.
These changes are part of the continuing refinements the firm has made to the Trust. In June 2010, the firm announced several changes to the iShares Gold Trust including: reducing the share price – and increasing the Trust’s shares outstanding – through a 10-for-1 share split, and lowering the Trust’s sponsor fee to 0.25% by leveraging BlackRock’s broader platform to drive greater operating efficiencies for the Trust.
BlackRock Lists iShares MSCI New Zealand Investable Market Index Fund on NYSE Arca
September 2, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the iShares MSCI New Zealand Investable Market Index Fund (Ticker: ENZL). The fund is advised by BlackRock Fund Advisors.
The fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI New Zealand Investable Market Index, which is free-float adjusted market capitalization weighted index designed to measure the performance of equity securities in the top 99% by market capitalization of equity securities listed on stock exchanges in New Zealand.
The fund’s prospectus and other information are available at www.ishares.com.
NSX Releases August 2010 ETF Data Reports
September 2, 2010--Highlights from the August report include:
Assets in U.S. listed Exchange-Traded Funds (ETF) and Exchange-Traded Notes (ETN) totaled approximately $814.8 billion at August 2010 month-end, an increase of approximately 21% over August 2009 month-end when assets totaled $672.3 billion.
August 2010 net cash outflows from all ETFs/ETNs totaled approximately $1.9 billion, with year-to-date net cash inflows totaling $47.6 billion.
Total Global/Int'l Equities led all product categories with over $4.5 billion in net cash inflows. Total U.S. Equities had net cash outflows of over $10.9 billion for the month of August 2010.
At the end of August 2010, the number of listed products reached 1046, with 437 ETFs/ETNs posting > $100 million in Assets Under Management (AUM).
SEC Adopts Temporary Rule Requiring Municipal Advisors to Register With Agency
September 2, 2010--The Securities and Exchange Commission today announced that it has adopted a temporary rule requiring municipal advisors to register with the SEC by October 1, a deadline established by the newly-enacted Dodd-Frank Wall Street Reform and Consumer Protection Act.
Municipal advisors provide advice to state and local governments and other borrowers involved in the issuance of municipal securities. The advice typically relates to municipal derivatives, guaranteed investment contracts, investment strategies or the issuance of municipal securities. Municipal advisors also solicit business from a state or local government for a third party.
Municipal advisors can now access and complete the new registration form (Form MA-T) on the SEC's website. Municipal advisors are encouraged to begin the registration process as soon as possible because of the impending registration deadline and the requirement that applicants first obtain an ID and password.
Standard & Poor's Announces Changes in the S&P/TSX Canadian Indices
September 2, 2010--Standard & Poor's Canadian Index Operations announces the following index changes:
The unitholders of Vermilion Energy Trust (TSX:VET.UN) have approved the conversion of the company to a corporate structure through a Plan of Arrangement. The units will be exchanged on a 1-for-1 basis for Vermilion Energy Inc. (TSX:VET).
As a result of the conversion, Vermilion Energy Trust will be removed from the S&P/TSX Income Trust and Capped Energy Trust Indices. Vermilion Energy Inc. will be added to the S&P/TSX Equity, Capped Equity and Equity Completion Indices. The conversion is effective after the close of Friday, September 3, 2010. The name and ticker change, with no change in capitalization, will be effective in the S&P/TSX Composite and Capped Composite, the S&P/TSX Completion and the S&P/TSX Capped Energy indices.
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.
Flash crash probe plays down quote-stuffing
September 2, 2010--Regulators probing the causes of the May 6 flash crash have concluded that quote-stuffing – placing and then almost immediately cancelling large numbers of rapid-fire orders to buy or sell stocks – was not a “major factor” in the turmoil, a person familiar with the inquiry said on Thursday.
However, the practice of quote-stuffing has come under increased scrutiny by regulators in both the equities and futures markets.
The Commodity Futures Trading Commission on Thursday confirmed it was reviewing data from Nanex, a database developer, which has suggested high-frequency trading firms could have used quote-stuffing to create arbitrage opportunities by slowing down electronic stock-trading networks or distracting their rivals.
Claymore files with the SEC
September 1, 2010--Claymore has filed a post-effective registration statement, registration statement with the SEC.
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NEXT ETF’s LLC files with the SEC
September 1, 2010--NEXT ETF’s LLC has filed an application for exemptive relief with the SEC.
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Barclays Launches Exchange Traded Note Linked to S&P 500® Dynamic VEQTORTM Total Return Index
September 1, 2010--Barclays Capital today announced the listing of the Barclays ETN+ VEQTORTM Exchange Traded Note (ETN) on the NYSE Arca stock exchange under the ticker symbol VQT. The ETN is designed to provide investors with broad equity market exposure.
“Today’s launch expands our suite of volatility-linked products, underscoring our commitment to providing solutions that seek to meet our clients’ needs,” said Philippe El-Asmar, Managing Director, Head of Investor Solutions at Barclays Capital. “The VEQTOR ETN provides investors with an exchange-traded way to access US equity returns with a long volatility overlay designed by Standard & Poor’s to provide an alternative to the S&P 500.”
The Barclays ETN+ VEQTORTM ETN is linked to the performance of the S&P 500® Dynamic VEQTORTM Total Return Index (the “Index”). The Index seeks to provide investors with broad equity market exposure with an implied volatility hedge by dynamically allocating its notional investments among three components: equity, volatility and cash. The equity component of the Index is represented by the S&P 500® Total Return IndexTM and the volatility component of the Index is represented by the S&P 500® VIX Short-Term FuturesTM Index.
For further information please contact:
Kristin Friel
Tel: 212 412 7521
ISE Reports Monthly Volume For August 2010
September 1, 2010--The International Securities Exchange (ISE) today reported average
daily volume of 2.4 million contracts in August 2010.
Average daily trading volume for all options contracts decreased 36.9% to 2.4 million contracts in August
as compared to 3.7 million contracts during the same period in 2009.
Total options volume for the month
decreased 33.9% to 51.8 million contracts from 78.4 million contracts in the same year-ago period.
On a year-to-date basis, average daily trading volume of all options decreased 24.3% to 3.1 million contracts traded. Total year-to-date options volume through August 2010 decreased 24.3% to 510.3 million contracts from 673.8 million contracts in the same period last year.
