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iShares files with the SEC
August 4, 2010--iShares has filed for exemptive relief with the SEC.
Operation of the New Funds
The investment objective of each New Fund (or any existing Fund that relies on the relief requested herein) will be to seek investment results that correspond generally to the price and yield performance, before fees and expenses, of an Underlying Index that is a Long-Short Index.
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First Trust files with the SEC
August 3, 2010--First Trust has filed a post effective amendment, registration statement with the SEC for
First Trust NASDAQ CEA Smartphone Index Fund
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U.S. International Reserve Position
August 3, 2010--The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $129,162 million as of the end of that week, compared to $128, 279 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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July 30, 2010 |
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A. Official reserve assets (in US millions unless otherwise specified) 1 |
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129,162 |
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(1) Foreign currency reserves (in convertible foreign currencies) |
Euro |
Yen |
Total |
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(a) Securities |
9,252 |
15,043 |
24,295 |
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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 |
13,690 |
7,373 |
21,063 |
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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 |
11,942 |
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(3) SDRs 2 |
56,013 |
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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) |
4,808 |
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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) |
4,808 |
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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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II. Predetermined short-term net drains on foreign currency assets (nominal value) |
BNY Mellon ADR Index Monthly Performance Review is Now Available
August 3, 2010--BNY Mellon ADR Index Monthly Performance Review-July 2010 is now available.
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CME Group Volume Averaged 10.8 Million Contracts per Day in July 2010, Up 12 Percent
August 3, 2010-CME Group, the world's leading and most diverse derivatives marketplace, today announced that July volume averaged 10.8 million contracts per day, up 12 percent from July 2009. Total volume was 227 million contracts for July, of which 83 percent was traded electronically.
In July 2010, CME Group interest rate volume averaged 4.5 million contracts per day, up 8 percent compared with the prior July. Treasury futures volume averaged 2.0 million contracts per day, up 35 percent compared with the same period in 2009, and Treasury options volume averaged 235,000 contracts per day, up 13 percent. Eurodollar futures volume averaged 1.5 million contracts per day, down 16 percent versus July 2009, while Eurodollar options volume averaged 657,000 contracts per day, up 8 percent.
ISE Reports Monthly Volume for July 2010
August 2, 2010--The International Securities Exchange (ISE) today reported average daily
volume of 2.5 million contracts in July 2010.
Average daily trading volume for all options contracts decreased 38.7% to 2.5 million contracts in July as
compared to 4.1 million contracts during the same period in 2009. Total options volume for the month
decreased 41.5% to 53.0 million contracts from 90.6 million contracts in the same year-ago period.
On a year-to-date basis, average daily trading volume of all options decreased 22.5% to 3.2 million
contracts traded. Total year-to-date options volume through July 2010 decreased 23.0% to 458.6 million
contracts from 595.5 million contracts in the same period last year.
Emerging Markets Week in Review -7/26/2010 - 7/30/2010
August 2, 2010--The Dow Jones Emerging Markets Sector Titans Composite Index advanced 0.57% last week, closing out a strong month for emerging market sectors.
Consumer Goods and Financials led the market up by increasing 2.37% and 1.56% respectively. Materials was the only negative sector last week, declining 0.46% and, despite a strong month of July, remains the worst performer this year.
Invesco PowerShares Announces Shift to Fundamental Index® Approach for High Yield Corporate Bond Portfolio (PHB)
Fund renamed to reflect change to new Index
August 2, 2010-- Invesco PowerShares, a leading provider of exchange-traded funds (ETFs), announced that effective Aug. 2, 2010, the PowerShares High Yield Corporate Bond Portfolio (PHB) began tracking the RAFI® High Yield Bond Index and was renamed the PowerShares Fundamental High Yield® Corporate Bond Portfolio. PHB is the first fixed-income ETF to use Research Affiliates’ Fundamental Index methodology.
“We are very pleased to expand our relationship with Research Affiliates and offer investors another industry first with the introduction of an innovative fixed-income index strategy that incorporates the Fundamental Index methodology,” said Ben Fulton, Invesco PowerShares managing director of global ETFs. Invesco PowerShares already offers eight equity ETFs based on FTSE RAFI indexes, which also make use of the Fundamental Index methodology.
Traditional bond indices give the largest weights to the biggest debtors, potentially exposing investors to greater risks of default. In contrast, Research Affiliates’ Fundamental Index methodology uses fundamental measures of company size, including book value, sales, dividends and cash flow, to set constituent weights.
“By weighting companies based on fundamental measures of their resources available to service debt, we believe the PowerShares Fundamental High Yield Corporate Bond Portfolio represents a compelling alternative to market-cap-weighted fixed-income portfolios and provides investors the potential for improved risk-adjusted returns,” Mr. Fulton added.
“Traditional bond indexes are flawed. Why would you want to give the biggest portion of assets to those companies that are the biggest debtors?” said Rob Arnott, chairman and founder of Research Affiliates, LLC, which developed the new index in conjunction with Ryan ALM, Inc. “The RAFI High Yield Bond Index offers a compelling alternative to traditional high-yield bond indexes.” Ron Ryan, CEO of Ryan ALM, adds, "We believe the index rules that we designed and maintain for the RAFI Index provide the highest liquidity, creditworthiness, investability and interest rate risk balance for a high-yield index today."
PHB will normally invest at least 80% of its total assets in high-yield bonds that comprise the Index. The Index measures potential returns of a theoretical portfolio of high yield, U.S. dollar denominated corporate bonds registered for sale in the United States whose issuers are public companies listed on a major U.S. stock exchange.
The underlying index is rebalanced at the end of every month based on the index rules and weighted according to a composite RAFI weight that is calculated for each eligible company. Composite RAFI weights are calculated using the following four factors: current book value of assets as well as gross sales, gross dividends and cash flow, each based on five-year averages. The target RAFI weights are reconstituted annually.
The Fund previously tracked the WellsFargo® High Yield Bond Index. The fund continues to be offered on the NYSE Arca under the existing ticker symbol PHB.
Invesco PowerShares Capital Management LLC is leading the Intelligent ETF Revolution® through its family of more than 120 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 over $44 billion as of June 30, 2010, PowerShares ETFs trade on both U.S. stock exchanges. For more information, please visit us at www.invescopowershares.com.
S&P 500 ETF rallies above 200-day average
August 2, 2010--Monday's stock rally pushed the SPDR S&P 500 ETF above its 200-day moving average, a closely watched technical indicator.
Shares of the ETF rose nearly 2% to $112.35 in morning trade, above their 200-day moving average of $110.84.
Exchange-Traded Funds: US ETF Weekly Update-Morgan Stanley
August 2, 2010--Highlights
Weekly Flows: $6.4 Billion Net Inflows
ETFsTraded $318 Billion Last Week
Launches: 1 New ETF
US-Listed ETFs: Estimated Flows by Market Segment
ETFs had net cash inflows of $6.4 blnlast; 4thweek in a row of net inflows
Weekly flows driven by largest 10 ETFs, which took in $5.6 blnin new money.
EM Equity ETFshave stronger flows vs. International Developed markets on a 1-, 4-, and 13-week basis
Fixed Income ETFsexhibit strongest net inflows over past 13 weeks with $12.1 billion
$28.6 bln net inflows into ETFs over 13 wks; Fixed Income getting 42% of new money vs. 16% mktshare
US-Listed ETFs: Estimated Largest Flows by Individual ETF
SPY has the largest net inflows for US ETFs at $1.5 billion last week
Weekly SPY flows have been very choppy. We estimate YTD outflows of $11.6 billion
Despite the largest net outflows last week, GLD has strongest net inflows of any ETF over past 13 weeks
The Options Industry Council Announces July Options Trading Volume Decreased 9 Percent
August 2, 2010-The Options Industry Council (OIC) announced today that total options trading volume in July was 277,370,315 contracts, down 9.29 percent compared to July 2009 volume of 305,772,164 contracts.
Year-to-date volume stood at 2,278,247,433 contracts, up 7.41 percent over the same point last year when 2,121,088,367 contracts were traded. Average daily trading volume for 2010 is 15,712,051 contracts, up 8.15 percent compared to last year’s 14,528,002 contracts.
Additionally, average daily trading volume for July was 13,208,110 contracts, 4.97 percent lower than last year when 13,898,735 contracts were traded on average each day in July.
OIC also reported that equity options volume in July came in at 257,060,882 contracts, a decrease of 10.04 percent compared to the 285,749,752 contracts traded during the same period last year. Daily equity options volume had an average of 12,240,994 contracts per day in July, which is 5.76 percent less than the same period last year when 12,988,625 contracts were traded on average each day. Year-to-date equity options stood at 2,100,073,623 contracts, representing an increase of 5.92 percent compared to the same point last year when 1,982,777,934 contracts were traded.
CBOE Reports July 2010 Trading Volume
Leads U.S. options exchanges in market share
Year-to-date average daily volume up 5%
August 2, 2010-- The Chicago Board Options Exchange (CBOE) today reported that daily volume in July averaged 3.9 million contracts, a six-percent decline from June 2010 average daily volume (ADV) of 4.1 million contracts and down 11 percent from July 2009 ADV of 4.3 million contracts.
With one less trading day in the month, July 2010 trading volume at CBOE totaled just under 81.0 million contracts, versus 90.7 million contracts in June 2010 and 95.1 million contracts in July 2009.
Year-to-date ADV through July was up five percent compared with the same period in 2009.
Funds’ Derivatives Disclosures Inadequate, SEC Says
August 2, 2010-- U.S. regulators said mutual funds aren’t telling investors enough about why they use derivatives, with some funds providing “generic” disclosures and others failing to explain how the products affect performance.
Regulators said they are concerned that the use of derivatives has increased in the mutual-fund industry without shareholders comprehending the risks or investment strategies. Some funds offer information that “may not be consistent with the intent” of required registration forms, the Securities and Exchange Commission wrote in a July 30 letter to the Investment Company Institute, the industry’s biggest trade group.
BM&FBOVESPA: First Previews For The Indices Theoretical Portfolios Valid From September To December, 2010
August 2, 2010--BM&FBOVESPA announces the first preview for the Ibovespa theoretical portfolio, which will be valid for the period of September to December, 2010. BM&FBOVESPA also announces the first previews for the other indices.
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CBOE Stock Exchange (CBSX) Sets Record Monthly Volume In July
August 2, 2010 - The CBOE Stock Exchange, LLC (CBSX) today announced that CBSX trading volume in July reached an all-time monthly high with 598.0 million shares traded, an average daily volume (ADV) of 28.0 million shares. This surpasses the previous monthly volume record set in October 2008 when 490.0 million shares (23.0 million ADV) changed hands at CBSX.
CBSX launched in 2007 as a multi-asset trading model for traders looking to reduce transaction costs and latency related to the hedging of options and futures market-making. The Chicago Board Options Exchange (CBOE) and CBSX offer fully automated executions for combined option and stock trades through a single electronic platform.
