Global ETF News Older than One Year
ASIC and FINRA Sign Cooperation Agreement
MOU Aimed at Expediting, Strengthening Cross-Border Supervision, Investigations
June 18, 2010--The Australian Securities and Investments Commission (ASIC) and the Financial Industry Regulatory Authority (FINRA) entered into a Memorandum of Understanding (MOU) today to promote and support greater cooperation between the two regulators
The MOU establishes a strong framework for mutual assistance and the exchange of information between ASIC and FINRA, to help ensure that high standards of market integrity and consumer protection are maintained in both jurisdictions. Among other things, the agreement will help the regulators to investigate possible instances of cross-border market abuse in a timely manner, exchange information on firms under common supervision of both regulators, and allow more robust collaboration on approaches to risk-based supervision of firms.
The agreement was signed by ASIC Chairman Tony D'Aloisio and FINRA Chairman and CEO Richard Ketchum. ASIC and FINRA have a long history of cooperation in cross-border cases affecting both markets.
"Because the US and Australian financial markets are highly globalized, it is crucial to both agencies that we have effective cooperation agreements with key partner jurisdictions," Mr D'Aloisio said. "This MOU will enhance the supervision of financial markets in both Australia and the U.S. This is particularly important in light of ASIC's new market supervision responsibilities."
Mr Ketchum added, "Today's agreement is a true indication of the global reach of the capital markets. ASIC and FINRA will be able to share information more freely on firms we both oversee and collaborate more closely in dealing with cross-border fraud to better protect investors in the U.S. and Australia."
Source: FINRA
NASDAQ OMX Hosts 24th Investor Program In London In Association With Piper Jaffray - Europe's Largest Investor Conference For U.S. Equities Will Spotlight Telecom, Media, Technology, Industrials, Material, Consumer And Healthcare Sectors
June 18, 2010--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) will host its 24th Investor Program in London on June 23, 2010, in association with Piper Jaffray, a leading international investment bank. Presentations will be made by the senior management of 29 companies from the Telecom, Media, Technology, Healthcare, Consumer, Industrials and Material sectors. These presentations will be webcast live at http://www.nasdaqomx.com/investorprogram
NASDAQ OMX has been hosting investor programs in Europe for more than 15 years. The investor conferences have primarily been held in London, Europe's largest financial centre, and have grown to become the largest institutional investors programs for U.S. equities in Europe. Edward S. Knight, Executive Vice President, General Counsel and Chief Regulatory Officer, will be the NASDAQ OMX host on site.
"It is always a pleasure to come to London and facilitate what we are confident will be fruitful meetings between interesting companies and new investors," says Bruce Aust, Executive Vice President, Corporate Client Group at NASDAQ OMX. "We look forward to an exciting day in London and are pleased to be working with Piper Jaffray in connecting growth capital with investment opportunities."
Companies participating are:
Align Technology, Inc. (ALGN), Applied Materials, Inc. (AMAT), Avago Technologies Limited (AVGO), Biovail Corporation (BVF), Brocade Communications Systems, Inc. (BRCD), Burger King Holdings, Inc. (BKC), Cephalon, Inc. (CEPH), Crucell NV (CRXL), Cypress Semiconductor Corporation (CY), Dendreon Corporation (DNDN), Equinix, Inc. (EQIX), Finisar Corporation (FNSR), Foster Wheeler AG. (FWLT), Garmin Ltd. (GRMN), Human Genome Sciences, Inc. (HGSI), Informatica Corporation (INFA), j2 Global Communications, Inc. (JCOM), Lam Research Corporation (LRCX), Marvell Technology Group Ltd (MRVL), Mattel, Inc. (MAT), Maxim Integrated Products, Inc. (MXIM), Net Entertainment NE AB (NET B), QIAGEN N.V. (QGEN), R.R. Donnelley (RRD), Salix Pharmaceuticals, Ltd. (SLXP), Sigma-Aldrich Corporation (SIAL), Synopsys, Inc. (SNPS), Tessera Technologies, Inc. (TSRA), and Vertex Pharmaceuticals Incorporated (VRTX)
Details of how to access the web casts live on these dates or afterwards in archived form can be found at the NASDAQ OMX website at http://www.nasdaqomx.com/investorprogram
Source: NASDAQ OMX
Component Changes Made to Dow Jones Select Dividend Indexes
June 17, 2010--Dow Jones Indexes, a leading global index provider, today announced that BP PLC (United Kingdom, Oil & Gas, BP.LN ) will be removed from the Dow Jones U.K. Select Dividend 20, Dow Jones EPAC Select Dividend and Dow Jones Global Select Dividend indexes.
BP PLC is being removed due to the cancellation of its dividend payment.
In the Dow Jones U.K. Select Dividend 20 Index, BP PLC will be replaced by Catlin Group Ltd. (United Kingdom, Insurance, CGL.LN).
In the Dow Jones EPAC Select Dividend Index and Dow Jones Global Select Dividend Index, BP PLC will be replaced by Deutsche Telekom AG (Germany, Telecommunications, DTE.XE).
All changes in the Dow Jones U.K. Select Dividend 20 Index, Dow Jones EPAC Select Dividend Index and Dow Jones Global Select Dividend Index will be effective as of the open of trading on Tuesday, June 22, 2010.
Further information on the Dow Jones Select Dividend indexes can be found at http://www.djindexes.com.
Company additions to and deletions from the Dow Jones U.K. Select Dividend 20, Dow Jones EPAC Select Dividend and Dow Jones Global Select Dividend indexes do not in any way reflect an opinion on the investment merits of the company.
Source: Dow Jones Indexes
Risk on, as investors dive back into emerging markets: EPFR
June 18, 2010--Investors set aside sovereign debt fears and shifted their money to higher-returning assets in mid June, with emerging market assets and U.S. equities among the recipients of fresh cash, EPFR Global said in a report on Friday.
Of all the funds tracked by the firm, equity funds posted inflows of $15.4 billion and bond funds took in $3.2 billion for the week ended June 16.
A single, large-cap U.S. exchange traded fund accounted for $10.8 billion of the flows into stock funds, or 70 percent of the total, EPFR said.
The portfolio flow activity suggests the worst of the violent market selloff in riskier assets is over, and economic data, particularly out of China and the United States, were reasons enough for investors to buy back some of the assets they sold in the last few months.
Source: Reuters
Economy : Developing countries set to account for nearly 60% of world GDP by 2030, according to new estimates
June 16, 2010--The rapid growth of emerging economies has led to a shift in economic power: forecasts based on analysis by late economist Angus Maddison suggest that the aggregate economic weight of developing and emerging economies is about to surpass that of the countries that currently make up the advanced world.
According to Perspectives on Global Development: Shifting Wealth, a new publication from the OECD Development Centre, the economic and financial crisis is accelerating this longer-term structural transformation in the global economy. Longer-term forecasts suggest that today’s developing and emerging countries are likely to account for nearly 60% of world GDP by 2030.
While the 1990s was a lost decade for much of the developing world, growth rates picked up significantly in the 2000s, with the number of developing countries beginning to converge strongly with the affluent OECD countries leaping from 12 to 65 (Figure 2). The strong performance of China and India has had a significant impact on the rest of the developing world.
Responding to this trend, the OECD has set out to strengthen its relations with major emerging economies. It has strengthened its links with Brazil, China, India, Indonesia and South Africa and recently welcomed Chile as its 31st member and it has extended invitations to join to Estonia, Israel and Slovenia. Russia is also negotiating to become a member.
Source: OECD
Standard & Poor’s launches S&P WCI sub-indices
June 16, 2010--Standard & Poor’s has launched an extended family of sub-indices based on the S&P World Commodity Index.
The S&P WCI family of indices now includes the single commodity indices and sector indices, as well as regional indices in Asia and Europe.
Launched in May 2010, the S&P WCI is the first index to consist solely of listed commodity futures contracts that trade outside of the US.
“The launch of the S&P WCI is the result of Standard & Poor’s meeting the market’s needs for an international commodity index that would complement the US focused S&P GSCI, providing all-world commodity exposure,” says Michael McGlone, director of commodity indexing at S&P Indices. “The S&P WCI family now includes all the mono and sector indices but notably, the regionally traded commodities in separate S&P WCI Asia and S&P WCI Europe indices.”
Source: Global Fund Wire
Experts warn over shortage of rare metals
June 14, 2010--Europe should support mining exploration and improve recycling of critical minor metals such as antimony, cobalt or rare earth elements, a high-level expert group will recommend tomorrow as it warns of future supply risks.
In a report seen by the Financial Times, the group, will not, however, recommend to Brussels any policy of stockpiling the materials – a contrast with US policy.
The group, chaired by the European Commission and set up as part of Brussels’ effort to secure sustainable supplies for the bloc, will label 14 minerals as “critical” and warn of potential shortages over the coming decades in its first report
Source: FT.com
International fund, ETF flows turn negative in May
June 15, 2010--International mutual funds and exchange-traded funds saw net outflows of $5.4 billion in May, but were still up with net inflows of $26.4 billion year-to-date, according to a Robert W. Baird & Co. report released this week.
Net outflows from U.S. stock funds and ETFs were $19.7 billion in May, and down $13.7 billion year-to-date. Taxable bond funds continued to be the most popular with net inflows of $7.1 billion in May, and up $113.1 billion year-to-date.
Source: Market Watch
Mexican wave helps to push LSE down league table
June 11, 2010--Mexico, you did better than draw with South Africa. In the global game between exchanges, the Mexican bolsa this week squeezed ahead of the Johannesburg stock exchange to top the the FTSE Mondo Visione league table of world exchanges.
This measures the share price performance of exchanges as publicly-listed companies – as opposed to the performance of stocks listed on the exchanges themselves – and is a barometer of how they are doing as businesses.
In the last 12 months the venerable London Stock Exchange has been knocked into 15th place, way behind Brazil’s BM&FBovespa (third) and Bursa Malaysia (fifth).
Source: FT.com
Credit Suisse Launches The Industry’s First Fixed Income Algorithmic Trading Platform Enabling Clients To Trade Directly With A Dealer
This new platform gives clients electronic access to trade directly with Credit Suisse. The initial Onyx™ offering is a suite of algorithmic execution for pair strategies between fixed income futures and cash US Treasuries. These are the very same algorithms that were designed by and have been used by the Credit Suisse trading desk for several years. For the first time, clients have electronic access straight from their desktops to trade cash US Treasuries directly with Credit Suisse, a leading market maker in fixed income. While previously clients had to chose between using an algorithmic execution strategy or trading directly with an actual market marker, Onyx™ serves both purposes. Onyx™ provides advanced execution and direct access to the liquidity only a dealer like Credit Suisse can provide through our extensive voice and electronic market making capabilities and vast customer franchise. All of these are pooled together to facilitate the efficient execution of our clients trades. "The addition of Onyx™ to Credit Suisse's growing suite of algorithmic trading platforms underscores our commitment to fixed income electronic trading," said Tim Blake, Head of US Rates. "We are excited to be able to offer our clients an industry leading product, giving them access to liquidity in the fixed income markets when and where it is available."
"Onyx™ is the gateway into the electronic future of fixed income trading. It brings all the liquidity we have to bear and delivers it in an electronic fashion to clients, helping them achieve their execution goals with greater speed and efficiency," said Ryan Sheftel, Global Head of Electronic Market Making for Rates.
Onyx™ is currently available on PrimeTrade, Credit Suisse's premier execution program. Credit Suisse anticipates offering Onyx on a wider variety of platforms in the near future.
Source: Credit Suisse AG
June 11, 2010-- Credit Suisse today announced the launch of Onyx™, a groundbreaking algorithmic trading platform designed specifically for fixed income.
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