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Newedge Group Hires ETF Traders From Macquarie, Van der Moolen
November 30, 2009--Newedge Group, the brokerage joint venture of Societe Generale SA and Credit Agricole SA’s Calyon unit, has hired three exchange-traded fund traders in New York, according to Bill Ahmuty, head of U.S. ETF sales and trading.
Briton Ryan, an ETF trader from Macquarie Group Ltd., Matt Koop, director of ETF trading at Van der Moolen Holding NV, and Kevin Nichols, a former Morgan Stanley trader and Dow Jones & Co. columnist, are based in New York, Ahmuty said. They’ll report to Ahmuty, who was hired in July from Morgan Stanley, where he was head of U.S. ETF trading.
“Not only are the number of ETFs growing but the number and type of clients who use them is also expanding,” Ahmuty said in an interview today. “They’re transparent so you can get prices easily, and you can move in and out of them quickly.”
Try DRIPing exchange-traded funds
November 27, 2009--One of the secrets of building wealth with individual stocks is to reinvest dividends through dividend reinvestment plans, or "DRIPs." Apart from being commission-free, DRIPing provides investment discipline, like dollar cost averaging with mutual funds. When markets are down, you automatically acquire cheaper units.
But what about DRIPing exchange-traded funds or ETFs?
"DRIPs are a relatively new introduction within the ETF arena," says Patricia Lovett-Reid, senior vice-president of TD Waterhouse Canada, which offers DRIP options to clients through its discount brokerage arm. "Not all ETF issuers offer it while mutual fund and stock DRIPS have been around for decades."
Claymore to close 4 ETFs
November 27, 2009-- Claymore, an exchange-traded fund (ETF) sponsor with ETF assets exceeding $2.5 billion*, announced today that it intends to close and liquidate four lightly followed ETFs. The combined assets of these ETFs represent less than 0.70%* of its total ETF assets.
“We have taken a reflective review of our current product lineup and after careful evaluation, we feel that these changes are in the best interest of shareholders,” said Christian Magoon, President of Claymore Securities, Inc. “We will continue to assess the needs of investors and launch products where the potential for marketplace appeal exists.”
December 11, 2009 will be the last day of trading for Claymore/ Morningstar Manufacturing Super Sector Index ETF, Claymore/Morningstar Information Super Sector Index ETF, Claymore/Morningstar Services Super Sector Index ETF, and Claymore U.S.-1 – The Capital Markets Index ETF (together, the “Funds”) on the NYSE Arca. Effective that day, the Funds will be closed to new investments through creation activity. The NYSE Arca will halt trading in the Funds before the open of trading on December 14, 2009.
Shareholders may sell their Fund shares prior to December 14, 2009. It is anticipated that transactions executed prior to December 14, 2009 will be subject to the fees normally assessed by broker-dealers for such transactions. From December 14, 2009 through December 18, 2009, shareholders may be able to sell their shares to certain broker-dealers, but there can be no assurance that there will be a market for the Funds. All shareholders remaining on December 18, 2009, will receive a cash distribution into their brokerage account representing the value of their shares as of that date, which will also include any capital gains and dividends.
For additional information, shareholders in these ETFs may call their financial advisor or Claymore at 888-949-3837.
Vanguard files with SEC
November 27, 2009-Vanguard has filed for exemptive relief with the SEC.
view filing
DB Index Research -- Weekly ETF Reports -- US
November 25, 2009--Highlights
TF Volume
US ETF turnover declined by 3% to US$68.3bn in the previous week. Turnover in the S&P 500 SPDR ("Spider") was US$21.5bn. The PowerShares QQQ Nasdaq 100 had turnover of US$4.5bn followed by the iShares Russell 2000 with turnover of US$4.0bn.
There were six new ETFs launched in the last week. BGI launched 1 new ETF on NYSE Arca and 1 on NASDAQ Stock Exchange. Index IQ, First Trust Ad, United States Commodity Funds LLC and PowerShares each launched one new ETF on NYSE Arca.
In the previous week, average daily turnover in the Large Cap, US Sector Leveraged and global regional products was US$28.0bn (-3.5%), US$10.2bn (-3.6%), US$9.9bn (-2.2%) and US$5.3bn (-0.9%) respectively.
Among the Emerging country ETFs, iShares MSCI Brazil ETF turnover was US$1,421m followed by iShares FTSE/Xinhua China ETF with turnover of US$971m. In non-US developed market flows, iShares MSCI Japan had turnover of US$256m. In non-domestic regional flows, emerging market turnover was US$4.0bn and developed markets regional flows EAFE had turnover of US$1.1bn.
Assets under Management (AUM)
Total assets under management for equity based ETFs declined by 1.3% in the previous week, AUM were US$576.9bn. See page 8 for largest changes in fund shares.
To request a copy of the report
Van Eck Global Lists Market Vectors Poland ETF on NYSE Arca
November 25, 2009--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the Market Vectors Poland ETF (Ticker: PLND). The ETF is sponsored by Van Eck Global.
The Market Vectors Poland ETF (PLND) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Poland Index, which is a rules based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of publicly traded companies that are domiciled and primarily listed on an exchange in Poland or that generate at least 50% of their revenues in Poland. In exceptional cases, companies with less than 50% of their revenues derived from Poland may be eligible for inclusion in the Index.
Direxion files with SEC
November 24, 2009--Direxion has filed a prospectus with the SEC for
Bull Fund-Domestic Equity Index Funds-Direxion Daily S&P 500® Bull 3X Shares.
BEAR FUND-Domestic Equity Index Funds-Direxion Daily S&P 500® Bear 3X Shares
Sector Fund-Bull Fund-Direxion Daily Semiconductor Bull 3X Shares
Bear Fund-Direxion Daily Semiconductor Bear 3X Shares
First Trust files with SEC
November 25, 2009--First Trust has filed a post effective amendment with the SEC.
view filing
Institutions Hold About Half Of ETF Assets
November 25, 2009--While exchange-traded funds have been catching on with mom and pop, institutions still held roughly half of all ETF assets at the end of last year, according to a study by the largest ETF firm.
Sophisticated investors like brokerage firms, hedge funds and pension funds held about $250 billion of the $497 billion in U.S. ETFs at the end of December 2008, says a report from Barclays PLC (BCS), which offers investors iShares ETFs.
The figure could surprise some.
"In the U.S. everyone says ETFs are a retail product," says Barclays analyst Deborah Fuhr. "Many people see them as mutual funds with extra bells and whistles."
Exchange-traded funds do share the same legal structure as conventional mutual funds. But there are crucial differences.
ETFs trade throughout the day like a stock at prices that match their underlying values, combining features of conventional open- and closed-end funds. Moreover, almost all ETFs are index funds, meaning they don't employ a fund manager to pick stocks but instead aim to replicate returns of a certain corner of the market, like financial stocks or small caps, an approach that is far less costly. Low costs and ease of trading means they've long been popular with sophisticated investors as a way to get market returns in areas where these money managers don't want to actively pick stocks.
SANTANDER accede condición-CERTIFICADOS DE PARTICIPACION A NAFTRAC
November 24, 2009--La Comisión de Supervisión del Mercado de Valores Latinoamericanos ha
registrado, con fecha de hoy, los compromisos de liquidez asumidos por el miembro
del Mercado, SANTANDER INVESTMENT BOLSA, S.V., S.A., en virtud de los cuales
se obliga a fomentar la liquidez de los CERTIFICADOS DE PARTICIPACION
ORDINARIA NAFTRAC, a partir del momento del comienzo de su negociación en el
Mercado de Valores Latinoamericanos.
En atención a ello, SANTANDER INVESTMENT BOLSA, S.V., S.A., accede a
la condición de especialista de los CERTIFICADOS DE PARTICIPACION
ORDINARIA NAFTRAC, en los términos previstos por la Circular del Mercado 3/2000,
de 22 de diciembre, relativa al régimen de actuación del especialista en el Mercado de
Valores Latinoamericanos e Instrucción Operativa 1/2001, de 17 de enero de 2001,
relativa a los parámetros de presencia del especialista en el Mercado de Valores
Latinoamericanos y aplicación de la Circular 3/2000.
FDIC-Insured Institutions Earned $2.8 Billion in the Third Quarter of 2009
Loan Balances Declined for Fifth Straight Quarter
November 24, 2009 --Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $2.8 billion in the third quarter of 2009, but loan balances declined by the largest percentage since quarterly reporting began in 1984. Quarterly earnings were more than three times the $879 million the industry earned a year earlier and represented an improvement over the industry's $4.3 billion net loss in the second quarter of 2009. More than 26 percent of all insured institutions reported a net loss in the latest quarter, up slightly from nearly 25 percent a year earlier.
Today's report shows that, while bank and thrift earnings have improved, the effects of the recession continue to be reflected in their financial performance," said FDIC Chairman Sheila Bair.
With regard to the decline in loan balances, Chairman Bair said, "There is no question that credit availability is an important issue for the economic recovery. We need to see banks making more loans to their business customers. This is especially true for small businesses that rely on FDIC-insured institutions to provide over 60 percent of the credit they use."
Provisions for loan losses totaled $62.5 billion in the quarter, an increase of $11.3 billion (22.2 percent) over the third quarter of 2008. Net interest income was $4.6 billion (4.8 percent) higher than a year earlier, noninterest income increased by $4.0 billion (6.8 percent), realized losses on securities and other assets were $3.8 billion lower, and noninterest expenses declined by $1.6 billion (1.7 percent).
Quarterly Banking Profile is available at http://www2.fdic.gov/qbp on the FDIC Web site
NASDAQ Announces Mid-Month Open Short Interest Positions In NASDAQ Stocks As Of Settlement Date November 13, 2009
November 24, 2009--At the end of the settlement date of November 13, 2009, short interest in 2,429 NASDAQ Global Market(SM) securities totaled 6,317,281,042 shares compared with 6,187,719,999 shares in 2,430 Global Market issues reported for the prior settlement date of October 30, 2009. The mid-November short interest represents 2.76 days average daily NASDAQ Global Market share volume for the reporting period, compared with 2.95 days for the prior reporting period.
Short interest in 462 securities on The NASDAQ Capital Market(SM) totaled 177,979,364 shares at the end of the settlement date of November 13, 2009 compared with 173,705,058 shares in 465 securities for the previous reporting period. This represents 2.49 days average daily volume, compared with the previous reporting period's figure of 1.70.
In summary, short interest in all 2,891 NASDAQ(R) securities totaled 6,495,260,406 shares at the November 13, 2009 settlement date, compared with 2,895 issues and 6,361,425,057 shares at the end of the previous reporting period. This is 2.75 days average daily volume, compared with an average of 2.89 days for the previous reporting period.
The open short interest positions reported for each NASDAQ security reflect the total number of shares sold short by all broker/dealers regardless of their exchange affiliations. A short sale is generally understood to mean the sale of a security that the seller does not own or any sale that is consummated by the delivery of a security borrowed by or for the account of the seller.
For more information on NASDAQ Short interest positions, including publication dates, visit http://quotes.nasdaq.com/asp/MasterDataEntry.asp?page=ShortInterest or http://www.nasdaqtrader.com/asp/short_interest.asp.
NYSE Group Inc. Issues Short Interest Report
November 24, 2009 --The NYSE Group, Inc. today reported short interest as of the close of business on the settlement date of November 13, 2009.
Based on information received from members and member organizations, short interest increased to 13,181,255,649 shares from 12,881,973,567 (revised) shares on October 30, 2009. This was an increase of 299,282,082 shares.
The short interest on November 13 was equal to 3.45 percent of the total shares outstanding.
The short interest in warrants as of November 13 amounted to 136,844 warrants, compared to 53,388 warrants the previous period.
As of the settlement date, there were 4,112 stocks and 11 warrants available for trading. Of these, 3,391 issues had either a short position of at least 5,000 shares or a change of 2,000 shares since the last monthly report.
A short sale is any sale of a security that the seller does not own or any sale that is completed by the delivery of a borrowed security.
NYSE Amex Issues Short Interest Report
November 24, 2009 -- NYSE Amex (formerly known as NYSE Alternext US) today reported short interest as of the close of business on the settlement date of November 13, 2009.
Based on information received from member and non-member organizations, short interest decreased to 204,249,190 shares from 207,313,847 shares (revised) on October 30, 2009.
This reflects short interest reported by all broker-dealers (not only NYSE Amex member firms) in NYSE Amex-listed securities. A short position of 5,000 or more shares existed in 334 issues. Some short position was shown in 562 issues.
This short interest report was compiled by NYSE Amex on the basis on information obtained from its member and non-member organizations covering all securities traded on the Exchange in both round and odd-lots.
A short sale is any sale of a security that the seller does not own or any sale that is completed by the delivery of a borrowed security.
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
November 24, 2009--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Tuesday, November 24, 2009:
The shares of Northern Continental Resources Inc. (TSXVN:NCR) will be removed from the index following the completion of an Arrangement Agreement with Hathor Exploration Limited (TSX:HAT).
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.
