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ISE and AlphaClone Announce Partnership
May 15, 2012--The International Securities Exchange (ISE), a leading US options exchange, and AlphaClone LLC, the leader in hedge fund position replication, today announced their partnership to promote AlphaClone's innovative hedge fund position replication index, the AlphaClone Hedge Fund Long/Short Index.
Their partnership will serve as a platform to license and promote AlphaClone’s proprietary hedge fund position replication approach to third parties seeking to provide access to alternative investment products.
This agreement combines the global experience of ISE with AlphaClone's distinct disclosure-based hedge fund replication approach, called cloning. Third-party licensees will be able to leverage ISE’s business development and marketing support to effectively bring AlphaClone’s innovative research and products to market.
“Our partnership with AlphaClone represents a new direction for ISE,” said Gary Katz, President and CEO of ISE. “As we continue to expand our presence in indexes and exchange-traded products, we are looking for compelling opportunities to commit our resources to assist ETFs in coming to market. Our collaboration with AlphaClone is an excellent first initiative in this area.”
“Partnering with a company such as ISE is a game changer for us and solidifies our leadership in disclosure-based investment research,” said Maz Jadallah, CEO of AlphaClone. “Our ability to access ISE’s expertise and resources going forward means our partners will know that they are backed by world class marketing and support.”
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Source: International Securities Exchange (ISE)
New ETF starts trading on BM&FBOVESPA
May 15, 2012--A new exchange-traded fund (ETF) is available for trading on BM&FBOVESPA. UTIP11 is indexed to the Public Utilities Index (UTIL), which tracks the performance of the shares issued by leading electric, water and sewage, and gas utilities.
The ticker symbol of the new ETF called Ishares Public Utilities Index (Índice de Utilidade Pública) is: UTIP11.
Besides this new ETF, investors can also trade in 12 other ETFs on BM&FBOVESPA: four broad-based index funds — BOVA11, BRAX11, PIBB11 and DIVO11, indexed to the Ibovespa, IBrX-100, IBrX-50 and Dividend indexes respectively; six sector index funds — CSMO11, MOBI11, MATB11, FIND11, ISUS11 and GOVE11, indexed to the Consumer Goods, Real Estate, Basic Materials, Financials, Corporate Sustainability and Corporate Governance indexes respectively; and two market cap index funds — SMAL11, indexed to the small cap index, and MILA11, indexed to the large cap index.
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Source: BM&FBOVESPA
Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices
May 15, 2012--Standard & Poor's will make the following changes in the S&P/TSX Canadian Indices:
The shareholders of Flint Energy Services Ltd. (TSX: FES) have accepted the $CDN25.00 cash per share offer from URS Corporation (NYSE: URS).
Flint Energy Services will be removed from the S&P/TSX Composite and Capped Composite, the S&P/TSX Equity and Capped Equity, the S&P/TSX Completion and Equity Completion, the S&P/TSX SmallCap and Equity SmallCap, the S&P/TSX Capped Energy and the S&P/TSX Composite Equal Weight Indices effective after the close of Thursday, May 17, 2012.
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.
Source: Standard & Poor's
Treasury International Capital Data for March
May 15, 2012--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for March 2012. The next release, which will report on data for April 2012, is scheduled for June 15, 2012.
The sum total in March of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC outflow of $49.9 billion. Of this, net foreign private outflows were $57.7 billion, and net foreign official inflows were $7.8 billion.
Foreign residents increased their holdings of long-term U.S. securities in March – net purchases were $22.3 billion. Net sales by private foreign investors were $4.0 billion, and net purchases by foreign official institutions were $26.3 billion.
At the same time, U.S. residents decreased their holdings of long-term foreign securities, with net sales of $13.9 billion.
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Source: US Department of the Treasury
Exchange Traded Concepts files with the SEC-KraneShares
May 15, 2012-- Exchange Traded Concepts has filed a post-effective amendment no.18, registration statement with the SEC. Prospectuses for the KraneShares Dow Jones Global Luxury Consumer ETF, KraneShares Dow Jones China Alternative Energy ETF, KraneShares CSI China Internet ETF,
KraneShares CSI China Consumer Staples ETF, KraneShares CSI China Consumer Discretionary ETF, KraneShares CSI China Five Year Plan ETF, and KraneShares CSI China Urbanization ETF.
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Source: SEC,gov
ISE to List Options on Facebook on May 29
May 15, 2012--The International Securities Exchange (ISE) today announced that it will list options on Facebook (ticker: FB) beginning on Tuesday, May 29.
Citadel Securities LLC will serve as the Primary Market Maker for Facebook at ISE. The options listing date is contingent on a successful completion of Facebook’s initial public offering on Friday, May 18.
Contract specifications will be determined when the new listing is certified by The Options Clearing Corporation prior to trading.
Source: International Securities Exchange (ISE)
Direxion files with the SEC
May 15, 2012--Direxion has filed a post-effective amendment, registration statement with the SEC for the Direxion S&P 1500 RC Volatility Response Shares (VSPR)
Direxion S&P 600 RC Volatility Response Shares
Direxion S&P 500 RC Volatility Response Shares (VSPY)
Direxion S&P Latin America 40 RC Volatility Response Shares (VLAT)
Direxion NASDAQ Volatility Response Shares (QVOL)
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Source: SEC.gov
Rockledge active ETF employs sector rotation
May 15, 2012--Rotating in and out different equity sectors to build returns is an investment strategy that historically was the preserve of hedge funds or sophisticated institutional investors.
But earlier this year, Rockledge Advisors launched an actively managed exchange traded fund that provides investors with a single instrument that pursues a sector rotation strategy.
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Source: FT.com
Agencies Finalize Large Bank Stress Testing Guidance
May 14, 2012--The Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation on Monday issued final supervisory guidance regarding stress-testing practices at banking organizations with total consolidated assets of more than $10 billion.
The guidance highlights the importance of stress testing at banking organizations as an ongoing risk management practice that supports a banking organization's forward-looking assessment of its risks and better equips it to address a range of adverse outcomes. The recent financial crisis underscored the need for banking organizations to incorporate stress testing into their risk management practices, demonstrating that banking organizations unprepared for particularly adverse events and circumstances can suffer acute threats to their financial condition and viability.
This guidance builds upon previously issued supervisory guidance that discusses the uses and merits of stress testing in specific areas of risk management. The guidance outlines general principles for a satisfactory stress testing framework and describes various stress testing approaches and how stress testing should be used at various levels within an organization. The guidance also discusses the importance of stress testing in capital and liquidity planning and the importance of strong internal governance and controls as part of an effective stress-testing framework.
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Source: FRB
Guggenheim Investments Selects Milestone Group's pControl For NAV Validation And Reporting -End-To-End
Automation Of Key Fund Administration Processes Enhances Efficiency, Control And Risk Management
May 14, 2012--Milestone Group, the specialist provider of optimised fund processing solutions to the global funds industry, has today announced that Guggenheim Investments, the investment management business of Guggenheim Partners LLC, which has approximately $127 billion of assets under management, has selected its pControl platform to automate the management and control of its NAV production and validation processes.
Milestone Group’s NAV Control solution provides extremely robust quality assurance around the NAV accounting function by eliminating the use of spreadsheets and manual processes. Instead, pControl aggregates and manages multiple data sources and formats, performs validations of NAVs and presents this in a single dashboard. This provides managers with a consolidated view across funds at any point in time.
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Source: Mondovisione
