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U.S. Treasury and India’s Ministry of Finance Launch Historic U.S.-India Economic and Financial Partnership
April 6, 2010--U.S. Secretary of the Treasury Tim Geithner and Indian Finance Minister Pranab Mukherjee today launched the U.S.-India Economic and Financial Partnership to strengthen bilateral engagement and understanding on macroeconomic, financial sector and infrastructure-related issues. The Partnership's launch affirmed the commitment of the U.S. and India to cooperate on economic and financial issues – both important in addressing shared challenges and achieving shared goals in this century.
"This Partnership creates a framework that is commensurate with the growing importance of our economic relationship and the significant business and cultural ties that already exist between our two nations," said Secretary Geithner. "Deepening our ties with India is critical to the broader global effort to develop a framework for a strong, sustainable and balanced growth and will facilitate more trade, investment and job creation in our two countries."
"India and the United States are bound by common values of democracy, market economies and pluralism," said Minister Mukherjee. "I am confident that this Partnership launch will unleash the energy and enterprise of people. It will make the relationship between two nations more vibrant and also help address global challenges."
The newly-launched dialogue will encompass discussions of economic developments in both countries as well as bilateral policy actions in the broader context of the G-20 commitment to strong, sustainable and balanced growth. The ministers agreed that they, and their senior officials, will continue to consult closely on topics of mutual interest and concern.
NASDAQ OMX Begins Options Trading on Its Internet Index
April 6, 2010--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced the launch of options trading on the NASDAQ Internet IndexSM (Nasdaq:QNET) which is designed to track the performance of the largest and most liquid U.S.-listed companies engaged in internet-related businesses that are listed on the NASDAQ Stock Market, the New York Stock Exchange (NYSE) or NYSE Amex. Options trading on the NASDAQ Internet Index began on March 24, 2010 on NASDAQ OMX PHLX. Susquehanna Securities is the specialist for this new product.
"Investors now have the ability to trade options on an index that tracks the performance of some of the most innovative internet companies," said John Jacobs, Executive Vice President, NASDAQ OMX Global Index Group. "This gives investors additional flexibility to tailor their trading strategies to their individual needs."
"Susquehanna Securities is a world-class market maker and acts as a critical provider of liquidity in several PHLX index options," said Thomas Wittman, President of NASDAQ OMX PHLX, Inc. "With the participation of Susquehanna Securities, we will be able to offer to the investing public a highly liquid, efficient vehicle to trade the hyper-evolving internet businesses."
The NASDAQ Internet Index is a key benchmark to track the performance of innovative companies that have stimulated one of the most rapidly evolving businesses. The Index includes companies engaged in a broad range of internet-related services including, but not limited to internet software, internet access providers, internet search engines, web hosting, website design, and internet retail commerce. The NASDAQ Internet Index provides these companies with greater visibility and access to a large pool of options investors worldwide. The Index underscores NASDAQ OMX's commitment to designing and calculating relevant world-class indexes.
The NASDAQ Internet Index is calculated in real-time across the combined exchanges and is disseminated in dollars. The index began calculation with a value of 150.00 on November 27, 2007. For more information about the NASDAQ Internet Index, including the list of component companies, visit https://indexes.nasdaqomx.com/Data.aspx?IndexSymbol=QNET.
NASDAQ OMX is a global leader in creating and licensing strategy indexes and is home to the most widely watched indexes in the world.
As a premier, full-service provider, the NASDAQ OMX Global Index Group is dedicated to designing powerful indexes that are in sync with a continually changing market environment. Utilizing its expanded coverage as a global company, NASDAQ OMX has more than 1,400 diverse equity, commodity and fixed-income indexes in the U.S., Europe, and throughout the world.
NASDAQ OMX's calculation, licensing and marketing support provide the tools to measure and replicate global markets. The NASDAQ OMX Global Index Group's range of services covers the entire business process from index design to calculation and dissemination. For more information about NASDAQ OMX indexes, visit https://indexes.nasdaqomx.com/.
Access to historical index data for NASDAQ OMX indexes can be accessed from a single source, NASDAQ OMX Global Index Watch. For additional information, please visit https://indexes.nasdaqomx.com/indexwatch.aspx.
Van Eck files with the SEC
April 5, 2010--Van Eck has filed a registation statement with the SEC for
Market Vectors India Small-Cap Index ETF.
Ticker: SCIF
The expense ratio: 0.90%
Banks urged to rethink OTC trading
April 5, 2010--The world’s biggest banks will have to get used to making less money trading over-the-counter derivatives if regulators are to succeed in reducing risk in the opaque markets, the head of the world’s biggest futures brokerage has warned.
In an interview with the Financial Times, Patrice Blanc, chief executive of Newedge, said efforts to move OTC derivatives – seen by many as exacerbating the financial crisis – to central clearing houses would only succeed if the banks, that are the biggest dealers, ceded some of the profits of the business to clearing.
US Treasury's bail-out profits top $10bn
April 5, 2010--The US government has made more than $10bn so far on banks’ repayments of bail-out funds, according to a new analysis that suggests taxpayers might turn a profit on the unprecedented help extended to the financial sector during the crisis.
Goldman Sachs and American Express played a large role in boosting the US Treasury’s coffers by agreeing to pay a favourable price for the warrants received in return for the aid, the study by the consultancy SNL Financial shows.
Emerging Markets Week in Review-3/29/2010 - 4/2/2010
April 5, 2010--The Dow Jones Emerging Markets Composite Index had one of its best weeks of 2010, climbing 4.46% last week and moved into positive territory for the year. Materials and Financials led all sectors, up 6.25% and 5.54% respectively. Technology, one of the best performing sectors in 2010 was the only negative sector last week, down 0.17%.
Health Care continues to lead all sectors for the year, up 9.26%.
NYSE Euronext’s U.S. Options Exchanges Announce New Pricing And Fee
April 5, 2010--NYSE Euronext’s U.S. options exchanges, NYSE Arca and NYSE Amex options, announced new rate changes for each market center that became effective April 1, 2010. NYSE Arca options is introducing higher posting credits in premium tier products, tiered customer rebates in non-premium penny pilot issues and a reduction in the LMM rights fees. NYSE Amex options is introducing a reduced electronic broker dealer rate, a reduced electronic firm rate, tiered pricing for firm proprietary manual trades and the implementation of the Professional Customer designation.
“We are always focused on building our business by providing our valued customers with greater efficiencies and enhanced incentives to trade on our options exchanges,” said Edward Boyle, Executive Vice President, NYSE Euronext U.S. Options. “These pricing adjustments, combined with our other competitive advantages, are designed to retain and attract additional order flow. NYSE Arca and NYSE Amex options are committed to maintaining our leadership position in U.S. equity options trading and these important pricing changes are one key piece of our evolving value proposition to customers.”
BNY Mellon ADR Index Monthly Performance Review is Now Available
April 5, 2010--BNY Mellon ADR Index Monthly Performance Review is Now Available.
view report
Index Data Monthly Report: U.S. Edition-Dow Jones
April 5, 2010--Index Data Monthly Report: U.S. Edition-Dow Jones is now available.
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February Credit Defaults: For Now, A Sigh Of Relief
April 5, 2010--February had the lowest monthly corporate default volume in some time. Only four companies failed to make good on their debt obligations, with a total default volume of $1.4 billion.
The 12-month trailing speculative grade default rate retreated to 8.65% from 9.24% in January. Standard & Poor’s believes that could indicate that the wave of defaults that affected corporate America in the past two years has begun to ease, aided by what we view as a slowly improving economy and healthier capital markets.
CME Group Volume Averaged 11.0 Million Contracts Per Day in March 2010, Up 2 Percent, and 11.5 Million Contracts Per Day in First-Quarter 2010, Up 12 Percent
April 5, 2010--- Record first-quarter foreign exchange volume averaged 887,000 contracts, up 75 percent
- Record first-quarter foreign exchange notional value traded averaged $115 billion, up 83 percent
- Record first-quarter metals volume averaged 327,000 contracts, up 52 percent
- Monthly and quarterly volumes in interest rates, foreign exchange, commodities and alternative investments, and metals grew by double digits
CME Group, the world's leading and most diverse derivatives marketplace, today announced that March volume averaged 11.0 million contracts per day, up 2 percent from March 2009. Total volume was 253 million contracts for March, of which 83 percent was traded electronically. Electronic volume averaged 9.1 million contracts per day, up 4 percent from the prior March. Average daily volume cleared through CME ClearPort was 446,000 contracts for March 2010, down 23 percent compared with March 2009.
The rolling three-month ClearPort rate per contract through February was up 36 percent, even though the rolling three-month ClearPort average daily volume was down 26 percent in the same period due to a product mix shift and the wide variance in rate per contract for individual CME ClearPort products.
In March 2010, CME Group interest rate volume averaged 5.0 million contracts per day, up 30 percent compared with the prior March. Eurodollar futures volume averaged 2.1 million contracts per day, up 29 percent versus March 2009, while Eurodollar options volume averaged 713,000 contracts per day, up 30 percent. Treasury futures volume averaged 1.8 million contracts per day, up 36 percent compared with the same period in 2009, and Treasury options volume averaged 246,000 contracts per day, down 8 percent.
Nasdaq Wins Largest Share of Options for First Time
April 2, 2010-- Nasdaq OMX Group Inc. for the first time grabbed the largest share of options volume on stocks and exchange-traded funds last month, according to the Options Clearing Corp. in Chicago.
The two exchanges operated by New York-based Nasdaq OMX accounted for 27.6 percent of equity options as new pricing on one of the markets drew almost 7 percentage points of trading volume. The company leapt three spots to top NYSE Euronext, the Chicago Board Options Exchange and the International Securities Exchange.
Global X files with the SEC-7 ETFs
April 2, 2010--Global X has filed a prospectus with the SEC for
Global X Brazil Consumer ETF
Global X Brazil Financials ETF
Global X Brazil Industrials ETF
Global X Brazil Materials ETF
Global X Brazil Utilities ETF
Global X Brazil Mid Cap ETF
Global X China Mid Cap ETF
No tickers or expense ratios are listed in this prospectus.
Treasury Releases New Report on Build America Bonds
Recovery Act Bonds Program Provides More Than $90 Billion Nationally to Date, Estimated to Save State and Local Governments More Than $12 Billion
April 2, 2010--he U.S. Department of the Treasury today released a new report showing that the Build America Bonds program has resulted in significant savings in borrowing costs for state and local governments. The report finds that Build America Bond issuers will save more than $12 billion in borrowing costs on bonds issued during the first year of the program as compared to issuing tax exempt debt. In addition, the Treasury Department today released its monthly comprehensive update on Build America Bonds issuances, showing more than $90 billion have been issued through March 31, 2010.
"Build America Bonds continue to save money for state and local governments and enjoy broad support in the market," said Alan B. Krueger, Assistant Secretary for Economic Policy at the Treasury Department. "Expanding and making this program permanent, as the President proposed in the Budget, will further improve the long-term functioning of the municipal bonds market and create a more efficient and effective municipal finance sector."
The Build America Bonds program, created by the American Recovery and Reinvestment Act, allows state and local governments to obtain much-needed financing at lower borrowing costs for new capital projects such as construction of schools and hospitals, development of transportation infrastructure, and water and sewer upgrades. Under the Build America Bonds program, the Treasury Department makes a direct payment to the state or local governmental issuer in an amount equal to 35 percent of the interest payment on the bonds.
view full list of issuances organized by state
U.S. Department of the Treasury Economic Statistics - Monthly Data Update
April 2, 2010--The U.S. Department of the Treasury Economic Statistics - Monthly Data Update is now available.
