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CEOs Of Small And Medium Enterprises Are More Optimistic About Growth Prospects Than Heads Of Larger Companies, According To The Annual NYSE Euronext CEO Report
CEOs of SMEs with less than $500 million in revenue are more optimistic about current growth prospects than those of larger companies
July 26, 2010--CEOs expect to increase their budgets in all aspects of their businesses
--Investors are showing renewed interest in companies
Chief executives of companies with less than $500 million in revenue listed on NYSE Euronext exchanges are the most bullish about their growth prospects through 2011, according to the newly released NYSE Euronext CEO Report.
Themed "Back to Business," the study finds that four in 10 (38%) CEOs of small and medium-sized enterprises (SMEs) expect significant growth within their companies. Globally, eight in 10 CEOs say they expect either a significant or modest improvement in the growth of their businesses through 2011, a positive indicator of a turning point in the health of the global economy.
"NYSE Euronext CEO Report represents the shared perspectives of corporate leaders on topics ranging from globalization and governance to strategy and human resources as well as economic crisis and recovery," said Duncan Niederauer, CEO of NYSE Euronext. "While the participating CEOs express the fact that there remains a great deal of work yet to be done, their renewed optimism and confidence in the growth of their businesses is an indication that the economy is headed in the right direction."
As popularity of ETF products grows so does the need for more sophisticated trading tools. In recognition of this, Bank of America Merrill Lynch today unveiled its premium algorithm, ETF-aX. This new ETF-specific algorithm analyzes market depth and price
July 26, 2010--As popularity of ETF products grows so does the need for more sophisticated trading tools. In recognition of this, Bank of America Merrill Lynch today unveiled its premium algorithm, ETF-aX. This new ETF-specific algorithm analyzes market depth and price data across an ETF's underlying portfolio to identify the most efficient combination of ETF, stock, and futures and then automatically trades them to source liquidity and find the best prices.
"The primary challenge with trading ETFs is market fragmentation; liquidity is limited outside of the top-ranked ETFs," said Charlie Whitlock, an execution consultant at BofA Merrill. "By using ETF-aX, clients are able to leverage our in-house ability to trade a combination of the component parts in different markets, gaining liquidity at more efficient pricing."
Upon receiving a client's order to trade an ETF, the engine analyzes inside pricing and depth of book across the ETF, stock, and futures markets to compile a picture of available liquidity. Once ETF-aX determines the optimal way to transact, balancing a desire for the best pricing against a need to capture the most liquidity, slices are simultaneously sent out to all market centers. A composite ETF price is assembled from the different executions and provided to clients.
"This technology has a proven and successful track record within our high-touch business," said Michael J. Lynch, head of Americas Execution Services. "It's a premium product that we think our electronic clients can greatly benefit from once integrated into their algo trading suite."
Bank of America Merrill Lynch is a leading global provider of equity and options trading, sales and research services to mutual funds, hedge funds, broker-dealers, pensions, endowments and other institutions. Its award-winning algorithmic trading platform was ranked as one of the top three providers of algorithmic trading, (1) and as having one of the top three market share positions of daily global algorithmic trading volumes in 2009. (2) Bank of America Merrill Lynch is also ranked No. 2 in the World's Best Broker by Bloomberg Markets. (3)
CFTC Designates Green Exchange, LLC as a Contract Market
July 26, 2010--The Commodity Futures Trading Commission (CFTC) yesterday approved the application of Green Exchange, LLC (“GreenEx”) for designation as a contract market. GreenEx is organized as a Delaware Limited Liability company and is a wholly-owned subsidiary of Green Exchange Holdings, LLC (“GreenEx Holdings”).
Chicago Mercantile Exchange, Inc. (“CME”) is the largest equity owner of GreenEx Holdings. Other equity owners include Evolution Markets, Inc., Morgan Stanley Capital Group, Inc., Credit Suisse First Boston, Goldman Sachs, as well as other brokers, dealers and commercial users.
GreenEx will list for trading a broad variety of contracts for environmental risk management that are currently traded on the New York Mercantile Exchange (“NYMEX”).
GreenEx will use CME’s Globex electronic trade-matching system. Clearing services for GreenEx will be provided by CME Clearing House. Regulatory services for GreenEx will also be provided by CME.
New Lithium ETF Powers the Green Movement
July 23, 2010--July 23, 2010 - Global X Funds, the New York-based provider of exchange-traded funds, launched today the world’s first Lithium ETF (NYSE Arca: LIT). This is the first ETF to offer investors targeted access to a resource industry critical for the renewable energy and green movement.
“The Global X Lithium ETF is an efficient way to invest in what we refer to as a “green” commodity because of its direct correlation to the renewable energy market such as electric cars and energy storage,” said Bruno del Ama, CEO of Global X Funds.
The ETF tracks the Solactive Global Lithium Index, which is designed to reflect performance of the largest and most liquid lithium battery producing and mining and refining companies in the world. As of July 13, 2010, the three largest components of the ETF are lithium producers SQM from Chile, and FMC Corporation and Rockwood Holdings from the US.
The basket of lithium-related equities will give investors access to the complete lithium value chain, from mining and refining through lithium battery production. As of July 13, 2010, 51% of the index includes lithium battery manufacturers, while 49% of the index consists of lithium mining and refining companies.
“Lithium is the lightest metal” said Jose C. Gonzalez, COO of Global X Funds. “When processed it has the capacity to store electric energy more efficiently than any other material. Efficient electric energy storage is necessary for all green energy products and the computer systems that control them – like electric cars, solar, wind and water power.”
Global X Funds Lists Global X Lithium ETF on NYSE Arca
July 23, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the Global X Lithium ETF (Ticker: LIT). The ETF is sponsored by Global X Funds.
The fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Lithium Index, which is designed to reflect the performance of the lithium industry. It is comprised of common stocks, American Depositary Receipts and Global Depository Receipts of selected companies globally that are primarily engaged in some aspect of the lithium industry, such as lithium mining, exploration, investing and lithium-ion battery production. The stocks are screened for liquidity and weighted according to free-float market capitalization. A specific capping methodology is applied at the semi-annual index review to facilitate compliance with the rules governing the listing of financial products on exchanges in the United States. The index is maintained by Structured Solutions AG.
CFTC.gov Commitments of Traders Reports Update
July 23, 2010--The CFTC.gov Commitments of Traders Reports Update for the week of July 20, 2010 are now available.
Van Eck Associates Corporation Lists Market Vectors Emerging Markets Local Currency Bond ETF on NYSE Arca
July 23, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the Market Vectors Emerging Markets Local Currency Bond ETF (Ticker: EMLC). The ETF is sponsored by Van Eck Associates Corporation.
Market Vectors Emerging Markets Local Currency Bond ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the J.P. Morgan Government Bond Index - Emerging Markets Global Core, which is designed to track the performance of bonds issued by emerging market governments and denominated in the local currency of the issuer.
ETF Securities USA files with the SEC
July 23, 2010--ETF Securities USA has filed a pre-effective amendment No, 1, FORM S-1 with the SEC for
ETFS Collateralized Commodities Trust.
The initial 18 Funds are
Long Collateralized Exchange Traded Commodity Funds:
ETFS ex-U.S. Oil
ETFS Natural Gas
ETFS Copper
ETFS Wheat
ETFS Composite Agriculture
ETFS Composite Industrial Metals
ETFS Composite Energy
ETFS All Commodities
Short Collateralized Exchange Traded Commodity Funds:
ETFS Short ex-U.S. Oil
ETFS Short Natural Gas
ETFS Short Copper
ETFS Short Wheat
ETFS Short Gold
Leveraged Collateralized Exchange Traded Commodity Funds:
ETFS Leveraged ex-U.S. Oil
ETFS Leveraged Natural Gas
ETFS Leveraged Copper
ETFS Leveraged Wheat
ETFS Leveraged Gold
United States Commodity Funds files with the SEC
July 23, 2010--United States Commodity Funds has filed a Form S-1 with the SEC for
United States Commodity Index Fund.
view filing
Georgetown Investment Management LLC files with the SEC
July 23, 2010--Georgetown Investment Management LLC has filed an application for exemptive relief with the SEC.
read more
Georgetown Investment Management LLC files for exemptive relief with the SEC
July 23, 2010--Georgetown Investment Management LLC has filed for exemptive relief with the SEC to issue actively-managed ETFs. The Initial Funds are as follows:
Georgetown Small-Mid Cap Equity ETF
The Georgetown Prime Limited Maturity Bond ETF
PowerShares files with the SEC
July 23, 2010--PowerShares has filed post-effective amendment, registration statement with the SEC for
PowerShares Fundamental High Yield Corporate Bond Portfolio
(formerly PowerShares High Yield Corporate Bond Portfolio)
Ticker: PHB)
view filing
Schwab files with the SEC
July 23, 2010--Schwab has filed a post-effective amendment, registration statement with the SEC for 3 ETFs. They are
Schwab U.S. TIPS ETF-Ticker Symbol:SCHP
Total annual operating expenses: 0.14
Schwab Short-Term U.S. Treasury ETF-Ticker Symbol:SCHO
Total annual operating expenses:0.12
Schwab Intermediate-Term U.S. Treasury ETF-Ticker Symbol: SCHR
Total annual operating expenses:0.12
Select Sector SPDR Trust Sues Invesco Over ETF Symbols
July 23, 2010--The manager of the Select Sector SPDR exchange-traded fund family is suing Invesco Ltd. (IVZ) over its use of similar trading symbols for its PowerShares ETFs.
The complaint by the the Boston-based Select Sector SPDR Trust accuses PowerShares Exchange-Traded Fund Trust II, Invesco PowerShares Capital Management LLC and Invesco of trademark infringement and misappropriation. It was filed Thursday in U.S. District Court in Houston.
Invesco introduced nine ETFs in April with the symbol XL that trade on the Nasdaq Stock Market, SPDR said. The trust said it has used XL for more than 10 years and that each of its ETFs traded an average of 25 million shares a day in 2009. In an example from the complaint, SPDR said its technology ETF uses the symbol XLK while Invesco’s PowerShares tech fund has XLKS.
Van Eck Launches Market Vectors(TM) Emerging Markets Local Currency Bond ETF
July 23, 2010-- New York-based asset manager Van Eck Global has launched Market Vectors Emerging Markets Local Currency Bond ETF (NYSE Arca: EMLC), the first U.S.-listed exchange-traded fund (ETF) designed to provide investors with exposure to an index that tracks a basket of bonds issued in local currencies by emerging market governments. The Fund has a gross expense ratio of 0.60 percent and net expense ratio of 0.49 percent.
EMLC seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of J.P. Morgan Government Bond Index-Emerging Markets Global Core Index (ticker: GBIEMCOR). J. P. Morgan is a major provider of innovative emerging market indexes, with approximately $80 billion benchmarked to its GBI-EM index family as of June 23, 2010. GBIEMCOR currently has 171 constituents with maturities ranging from one to 30 years, and an average yield-to-maturity of 6.8 percent as of July 1, 2010.
The Index currently tracks a selection of bonds issued in local currencies by thirteen emerging market countries representing Latin America, Eastern Europe, Africa, and Asia: Brazil, Colombia, Egypt, Hungary, Indonesia, Malaysia, Mexico, Peru, Poland, Russia, South Africa, Thailand, Turkey. GBIEMCOR is market-cap weighted, with individual country exposures capped at 10 percent to provide more diversification among countries within the index. As of July 1, 2010 six countries met the 10 percent threshold, including Brazil, Malaysia, Mexico, Poland, South Africa and Thailand. Index rebalancing occurs monthly.
"With EMLC, we've created an ETF that allows investors to participate in the dynamics of the local emerging market economies, which include potential for currency appreciation and higher yields, relative to their developed market counterparts," said Jan van Eck, Principal at Van Eck Global. "We're very excited to be able to provide a means for tracking an index from the popular J.P. Morgan local currency bond index family, particularly at a time when the global markets are witnessing the growing importance of new economic leaders in regions such as Asia and Latin America."
"Over the last few years emerging markets have demonstrated resilience as much of the developed world has experienced massive fiscal deterioration and skyrocketing debt levels," said Joyce Chang, Head of Global Emerging Markets and Credit Research with J.P. Morgan. "EM countries have driven global growth in recent years and have become one of the fastest growing asset classes, providing an important source of diversification for investors."
EMLC is the 26th ETF offered under Van Eck's Market Vectors brand. Van Eck's recent product choices underscore the firm's continued commitment to emerging markets. Other international equity ETFs featured within the Market Vectors family include Africa Index ETF (AFK), Brazil Small-Cap ETF (BRF), Egypt Index ETF (EGPT), Gulf States Index ETF (MES), Indonesia Index ETF (IDX), Latin America Small-Cap Index ETF (LATM), Poland ETF (PLND), Russia ETF (RSX) and Vietnam ETF (VNM).
Van Eck Global also offers other Market Vectors ETFs focused on hard assets, specialty investments, and municipal bonds ETFs. As of June 30, 2010, Market Vectors ETFs had a total of approximately $14.5 billion in assets under management and was the 6th largest provider of ETFs in the U.S.
