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Virtu slashes KCG staff by more than a third
August 10, 2017--Virtu has trimmed headcount and shut down unprofitable businesses following its $1.4 billion KCG takeover.
Virtu Financial has cut more than a third of KCG's employees, mostly from management level, as the firm looks to trim costs following its acquisition.
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Source: thetradenews.com
VIX Options and Futures Set New Daily Volume Records
August 10, 2017--CBOE Holdings, Inc. (BATS: CBOE |NASDAQ: CBOE) said today that trading volume in options and futures on the CBOE Volatility Index® (VIX®) each reached new all-time highs on Thursday, August 10.
In VIX options at CBOE, a reported 2,562,477 contracts traded on Thursday, surpassing the previous single-day record of 2,382,752 contracts on February 3, 2014.
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Source: CBOE Holdings, Inc
TMX Group Announces Changes To Executive Committee
August 9, 2017--TMX Group Limited today announced executive changes, including new strategic and expanded responsibilities for several members of the company's senior management team.
"Today marks an important milestone for TMX Group as we continue to position our organization to achieve sustainable, long-term success," said Lou Eccleston, Chief Executive Officer, TMX Group.
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Source: TMX Group Limited
CFTC.gov Swaps Report Update
August 9, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
DOL seeks to delay fiduciary rule until July 2019
August 9, 2017--Battle intensifies as Labor Department seeks to push off implementation until July 2019
Supporters of the Labor Department's fiduciary rule are calling an 18-month implementation delay too long, while opponents are saying the postponement is needed to give the agency time to review the rule.
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Source: invesmentnews.com
Pimco-Asset Allocation Outlook MidYear Update-Preparing for Pivot Points
August 9, 2017--Investors have enjoyed economic stability and positive market returns for years, but stretched valuations and a changing macroeconomic backdrop suggest a change is coming.
As our colleagues detailed in the essay "Pivot Points," which summarized our views from our Secular Forum in May, there are potential catalysts for change on the horizon. We discuss those factors and other secular themes in this section, and in the next section we will update our nearer-term views for asset allocation in 2017, including a key change: our move to a more defensive stance.
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Source: Pimco
First Trust Launches the First Trust Dow 30 Equal Weight ETF
August 9, 2017--An ETF that provides equal weight exposure to the DJIA
First Trust Advisors L.P. ("First Trust"), a leading exchange-traded fund ("ETF") provider and asset manager, announced today that it has launched a new index-based ETF, the First Trust Dow 30 Equal Weight ETF (NYSE Arca: EDOW) (the "fund").
The fund seeks investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the Dow Jones Industrial Average® Equal Weight Index (the "DJIA Equal Weight Index"). The DJIA Equal Weight Index is an equal-weight version of the Dow Jones Industrial Average ® ("DJIA").
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Source: First Trust
SEC Delays Decision on Chinese Buyout of Chicago Exchange
August 9, 2017-- Agency commissioners will review politically-fraught takeover
SEC staff said Wednesday that the sale should go through
The U.S. Securities and Exchange Commission has dodged a political hot potato-for now-by delaying a decision on whether to approve a Chinese-led group's controversial takeover of the Chicago Stock Exchange.
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Source: Bloomberg
IMF Working paper-Stabilizing the System of Mortgage Finance in the United States
August 8, 2017--Summary:
It has been over a decade since the peak of house prices in the US was attained, and while there has been a concerted regulatory response to the subsequent collapse, the two Government Sponsored Enterprises (GSEs) remain in conservatorship.
While this action served to forestall a deeper crisis at the time, over the past several years risks related to the system of mortgage finance can be seen building across several dimensions that need to be addressed. While reforms to the GSEs are an important part of dealing with these concerns, this paper argues that broader changes need to be made across the entire mortgage landscape to stabilize the system, even before the final state of the GSEs is fully determined.
view the IMF Working paper-Stabilizing the System of Mortgage Finance in the United States
Source: IMF
Vanguard Plans Benchmark Changes For Three Bond Funds And ETFs
August 8, 2017--Vanguard, a leading provider of bond index funds and ETFs, announced plans today to change the target benchmarks of three government bond index funds and ETFs to pure Treasury indexes.
Vanguard Short-Term Government Bond Index Fund and ETF (VSBSX/VGSH), Vanguard Intermediate-Term Government Bond Index Fund and ETF (VSIGX/VGIT), and Vanguard Long-Term Government Bond Index Fund and ETF (VLGSX/VGLT) are expected to transition from Bloomberg Barclays US Government Float-Adjusted indexes to Bloomberg Barclays US Treasury Float Adjusted indexes in the fourth quarter of this year.
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Source: Vanguard
