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CFTC analysis nixes emergency trading curbs-sources
Analysis finds limited power to put curbs in place now
Curbs on commodities speculators due later this year
Lawmakers have pressed CFTC to act sooner over fuel prices
May 9, 2012--The U.S. futures regulator has concluded it cannot currently use its emergency authority to impose trading curbs on speculators in the oil markets, according to people familiar with a recent internal legal analysis.
The Commodity Futures Trading Commission conducted the study as it faces pressure in an election year from lawmakers to crack down as soon as possible on oil market speculation that they blame for driving up gasoline prices.
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Source: Reuters
CFTC.gov Financial Data for Futures Commission Merchants Update
May 9, 2012--Selected FCM financial data as of March 31, 2012 (from reports filed by May 1, 2012) is now available.
view updates
Source: CFTC.gov
"The Thing Is" Speech of Commissioner Bart Chilton before Americans for Financial Reform, Washington, DC
May 9, 2012-Introduction
Thank you for the introduction. I appreciate the opportunity to be with you today to discuss cost/benefit analysis (CBAs).
As we know, this has been the matter of lawsuits and countless meetings in the wake of the passage of the Wall Street Reform and Consumer Protection Act, otherwise known as Dodd-Frank. It is an important topic.
Load of Compromisin’
For me, most things that are resolved in this town result from an appropriate equilibrium. The truth or answer isn’t found on the outskirts of issues; they reside on the inside, in the medium. Most things I’ve worked upon or have seen worked upon seem to resolve themselves better when there is cooperation and compromise. That usually means some level of concession from all parties. When something is approved and everyone is grumbling a bit, that typically indicates it is legitimately worthy, in general. At least, that is what I’ve found.
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Source: CFTC.gov
NSX Introduces New Pricing Schedule and Market Data Revenue Sharing
May 9, 2012--Fee and Rebate Schedule
Updated as of May 9, 2012
The Schedule of Fees and Rebates (pursuant to Rule 16.1(a) and Rule 16.1(c)) for the National Stock Exchange, Inc. ("NSX"). Order matching computations are made on a monthly basis unless otherwise noted.
All references to “per share” mean “per share executed.”
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Source: NSX
MarketShares files with the SEC
May 9, 2012--MarketShares has filed a first and amended application for exemptive relief with the SEC.
view filing
Source: SEC.gov
ArrowShares Debuts Global Yield ET (GYLD)
May 8, 2012--In the latest example of a mutual fund company making the move to ETFs, ArrowFunds, the Maryland-based firm which currently has five mutual funds in its lineup, is now an ETF advisor as well.
The company launched its first fund, under the ArrowShares brand name, the Dow Jones Global Yield ETF (GYLD) looking to give investors a new way to play the high yield market from a global perspective.
GYLD In Focus
This global ETF looks to provide exposure to both traditional and alternative sources of yield around the globe by following the Dow Jones Global Composite Yield Index.
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Source: Zacks
BM&FBOVESPA announces winner of the bidding process for use of the new IBOVESPA ETF
May 8, 2012--Individuals and companies from all over the world can make credit card donations to rigorously selected and monitored projects listed on the BVSA portal
May 8, 2012--Caixa Economica Federal won the bidding process that BM&FBOVESPA held to license use of the BOVESPA Index for a new ETF based on IBOVESPA. The Exchange opened the proposals and announced the results of the process. Three institutions participated.
The Index Licensing Agreement shall be signed within the next 15 days. After the Securities and Exchange Commission of Brazil (CVM) and BM&FBOVESPA grant the due authorizations for the functioning and registration of a new ETF based on IBOVESPA, Caixa Econômica Federal will have 30 consecutive days to start trading the new ETF on the Exchange. The ETF based on the IBOVESPA reflects the performance of the 68 most traded stocks on BM&FBOVESPA.
ETFs are index funds traded on the Exchange like stocks and which replicate the composition of an index. An investor that buys a unit in an ETF is making a simultaneous investment in a share portfolio composed of companies in different sectors of the Brazilian economy, without having the buy the separate shares of the respective index.
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Source: BM&FBOVESPA
Dow Jones Indexes To License Yield-Oriented, Multi-Asset Class Index For New Arrowshares ETF
Launch of Dow Jones Global Composite Yield Index To Respond to High Level of Interest in Yield-Based Themes
Five Subindexes to Provide Equally Weighted Exposure to Traditional, Alternatives Sources of Income
Across Multiple Assets Classes
May 8, 2012--Dow Jones Indexes today announced that Arrow Investment Advisors, LLC has licensed the Dow Jones Global Composite Yield Index to serve as the basis for the Arrow Dow Jones Global Yield ETF.
The ETF — the first to launch under Arrow Investment Advisors’ new exchange-traded product line branded ArrowShares — was launched today and will trade on NYSE Arca.
The Dow Jones Global Composite Yield Index, also launched today, is designed to reduce concentration risk by tracking five yield-oriented baskets — each one a 30-component subindex launching today — that provide equally weighted exposure to traditional and alternative sources of income across multiple asset classes.
The five Dow Jones Global Composite Yield Index subindexes are:
•Dow Jones Global Equity Yield Index: measures high dividend-paying stocks selected from developed and emerging markets;
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Source: Dow Jones Indexes
Arrow Makes Its Exchange Traded Fund Debut With the Launch of the Arrow Dow Jones Global Yield ETF (GYLD)
Based on the Dow Jones Global Composite Yield Index, GYLD Targets a Competitive Yield via Direct Exposure to Traditional and Alternative Assets
May 8, 2012--Arrow Investment Advisors, LLC, the advisor to Arrow Funds, today announced the launch of its first exchange traded fund (ETF).
The Arrow Dow Jones Global Yield ETF (GYLD) debuts as the only fund to track the Dow Jones Global Composite Yield Index, a newly launched benchmark that provides diversified exposure to traditional and alternative sources of income across multiple asset classes.
The benchmark has shown a competitive yield range of approximately 7% to 9% over the past year, subject to market fluctuation.
"The prevailing low interest rate environment has made it extremely challenging for income-oriented investors to generate substantial yield via traditional means," says Joseph Barrato, CEO, Arrow Investment Advisors. "The Arrow Dow Jones Global Yield ETF provides an exchange traded solution designed to boost the yield play in an investment portfolio."
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Source: Arrow Investment Advisors
Horizons plans ETF closures
May 8, 2012--Horizons Exchange Traded Funds Inc. says it will be terminating five exchange traded funds (ETFs) effective at the close of business on June 29.
The ETFs being terminated are:
Horizons BetaPro COMEX Long Gold/Short Silver Spread ETF (TSX:HBZ)
Horizons BetaPro COMEX Long Silver/Short Gold Spread ETF (TSX:HZB)
Horizons BetaPro COMEX Gold Inverse ETF (TSX:HIB)
Horizons BetaPro COMEX Silver Inverse ETF (TSX:HIZ)
Horizons BetaPro U.S. 30-year Bond Bull Plus ETF (TSX:HTU)
Direct subscriptions for units of the terminated ETFs are no longer being accepted.
Monday June 25 is expected to be the last date on which a redemption request may be placed with the Horizons ETFs Management (Canada) Inc., and the terminated ETFs are expected to be de-listed from the Toronto Stock Exchange at the close of business on June 26. All units still held by investors will be subject to a mandatory redemption as of June 29.
Source: Canadian ETF Watch
