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Direxion Launches Leveraged and Inverse Junior Gold Miners ETFs
New Products Enable Both Bull and Bear Investors to Seek to Capitalize on Equity Performance of Domestic and International Junior Gold-Mining Companies
October 3, 2013--Direxion, a leader in alternative investment solutions, has launched two leveraged exchange-traded funds (ETFs) tracking the global equity performance of junior gold-mining companies.
The Direxion Daily Junior Gold Miners Index Bull 3X Shares (JNUG) seeks to achieve daily investment results, before fees and expenses, of 300 percent of the performance of the Market Vectors™ Junior Gold Miners Index. The Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) seeks daily investment results, before fees and expenses, of 300 percent of the inverse of the performance of the Market Vectors Junior Gold Miners Index.
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Source: Direxion
JPMorgan's Dimon gives up chairman role at bank subsidiary
October 3, 2013--JPMorgan Chase & Co chairman and CEO Jamie Dimon has given up the title of chairman of the company's main bank subsidiary to conform with a new internal policy on multiple roles.
Dimon has been under regulator scrutiny since the company last year disclosed it was losing billions of dollars on derivatives in what has become known as the "London Whale" trades. At this year's annual meeting, he won a vote of confidence called, in part, because of a breakdown in risk controls.
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Source: Reuters
CBOE's SPXpm Options Establish New Daily Volume Record
October 3, 2013--Chicago Board Options Exchange, Incorporated (CBOE(R) today reported that trading volume in SPXpmSM--S&P 500(R) Index options that are PM-settled--established an all-time daily volume record yesterday as 54,611 contracts changed hands.
Wednesday's record surpassed the previous daily volume record of 39,472 SPXpm contracts traded on June 21, 2013.
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Source: CBOE
Schwab Study Finds 22% Rise in Demand for ETFs
October 3, 2013--For a growing number of investors, exchange-traded funds (ETFs) are being embraced as a mainstay of a diversified portfolio. According to the 2013 ETF Investor Study by Charles Schwab, half of respondents plan to increase their ETF holdings over the next year-a 22 percent increase over those who said the same in 2012.
Nearly one in ten investors (nine percent) now hold 50 percent or more of their portfolios in ETFs, more than double the four percent seen last year. Cost and fees continue to be critical factors when making ETF buying decisions, but topping expense ratios and trade commissions is the concern among investors that ETFs could contain hidden fees.
"Demand is up across the board, and investors who own ETFs appear to be more interested in the product than ever," said Beth Flynn, vice president of ETF platform management at Charles Schwab.
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Source: Charles Schwab
Report: The Potential Macroeconomic Effect of Debt Ceiling Brinksmanship
Unprecedented default could result in recession comparable to or worse than 2008 financial crisis
October 3, 2013--The U.S. Department of the Treasury released a report today on the potential macroeconomic effects of debt ceiling brinksmanship.
The report states that a default would be unprecedented and has the potential to be catastrophic: credit markets could freeze, the value of the dollar could plummet, and U.S. interest rates could skyrocket, potentially resulting in a financial crisis and recession that could echo the events of 2008 or worse. By looking at the disruptions to financial markets that ensued in 2011, the report examines a variety of economic indicators-including consumer and small business confidence, stock price volatility, credit risk spreads, and mortgage spreads- through which a similar episode might harm the economic expansion.
"As we saw two years ago, prolonged uncertainty over whether our nation will pay its bills in full and on time hurts our economy," Treasury Secretary Jacob J. Lew said. "Postponing a debt ceiling increase to the very last minute is exactly what our economy does not need- a self-inflicted wound harming families and businesses. Our nation has worked hard to recover from the 2008 financial crisis, and Congress must act now to lift the debt ceiling before that recovery is put in jeopardy."
view the report-THE POTENTIAL MACROECONOMIC
EFFECT OF DEBT CEILING BRINKMANSHIP
Source: US Department of the Treasury
BATS Global Markets Reports 23.4% European Market Share-Sets Record In Germany's SDAX-U.S. Equities Market Share Totals 9.7%-BATS Options Reports 4.1% Market Share
U.S. Equities Market Share Totals 9.7%; BATS Options Reports 4.1% Market Share
October 2, 2013-- BATS Global Markets (BATS) today reported that BATS Chi-X Europe posted overall market share of 23.4% in September, with a new monthly market share record set in Germany's SDAX (8.8%) and its second-best month on record for market share in Depositary Receipts (FTSE ROIB, 8.3%).
BATS Chi-X Europe remained the largest pan-European market by market share and notional value traded in September, with monthly market share exceeding 26% in the UK, German, Swedish and Finnish markets.
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Source: BATS Global Markets (BATS)
Horizons ETFs Launches Canada's First Floating Rate Preferred Share ETF
October 2, 2013--Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. are pleased to announce the launch of the Horizons Active Floating Rate Preferred Share ETF ("HFP"), which will for the first time give Canadian investors the opportunity to gain floating rate exposure from North American preferred shares through an exchange traded fund.
Class E units and Advisor Class units of the HFP will begin trading today on the Toronto Stock Exchange ("TSX").
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Source: Wall Street Journal
IPI Wealth Management Welcomes Dan Weiskopf of Access ETF Solutions
Investment Planners, Inc. Welcomes Dan Weiskopf
October 1, 2013--Dan Weiskopf, Portfolio Manager and Investment Advisor Representative of IPI Wealth and IPI Wealth Management Inc., have entered into a strategic alliance that brings Access ETF Solutions models strategies.
and Mr. Weiskopf's ETF expertise to managed accounts and advisory platforms.
For more information, visit Investment Planner's Inc. online at www.investment-planners.com.
Source: Investment Planners, Inc.
CBOE Holdings Reports September Volume
Year-to-Date Volume: Index Options Up 24 Percent, VIX Futures Up 86 Percent
October 1, 2013--CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that September trading volume for options contracts on Chicago Board Options Exchange(R) (CBOE(R)) and C2 Options Exchange (C2SM) and futures contracts on CBOE Futures ExchangeSM (CFE(R)) totaled 95.48 million contracts.
Average daily volume (ADV) was 4.77 million contracts, a three-percent increase from August 2013 and a two-percent decrease from September 2012.
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Source: CBOE
ISE Reports Business Activity for September 2013
October 1, 2013--ISE and ISE Gemini(TM) combined represent 17.3% of equity options market share, excluding dividend trades.
ISE reported a combined ADV of 2.4 million contracts.
Dividend trades made up 2.7% of industry volume in September 2013.
The International Securities Exchange (ISE) today reported a combined average daily volume (ADV) of 2.4 million contracts in September 2013 for its two exchanges, ISE and ISE Gemini. This represents 17.3% of U.S. equity options market share.
Business highlights for the month of September include:
On September 30, ISE Gemini rolled out 200 additional products. Total listings on ISE Gemini now represent over ninety percent of overall equity and ETF options volume.
For the month of September, Implied Order functionality accounted for 6.5% of all non-crossing, multi-legged contract volume executed on ISE.
Detailed volume statistics are found in the tables by visiting
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Source: International Securities Exchange (ISE)
