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IMF Working paper-The Puzzle of Brazil's High Interest Rates
March 1, 2012--Summary: This paper highlights that real interest rates in Brazil have declined substantially over time, but are still well above the average of emerging market inflation targeting regimes.
The adoption of an inflation-targeting regime and better economic fundamentals (reduction in inflation volatility and improvements in the fiscal and external positions) has helped Brazil sustain significantly lower real interest rates than in the past. Going forward, the paper shows that Brazil can converge towards lower equilibrium real interest rates if domestic savings increase to the level of other emerging market countries. The effect is particularly pronounced if the increase in domestic savings is achieved through higher levels of public savings. Still, econometric results suggest that, controlling for everything else in the model, real interest rates in Brazil are about two full percentage points higher than in other countries in the sample, suggesting that there are still Brazil-specific factors that have not been captured by the empirical analysis. Some of these factors may include credit market segmentation and inflation inertia generated by still pervasive indexation practices.
view the IMF Working paper-The Puzzle of Brazil's High Interest Rates
Source: IMF
Van Eck files with the SEC
March 1, 2012-Van Eck has filed an application for exemptive relief with the SEC.
view filing
Source: SEC.
Russell files with the SEC
March 1, 2012--Russell has filed a second amended and restated application for exemptive relief with the SEC.
view filing
Source: SEC.gov
Fee Rate Advisory #6 for Fiscal Year 2012
March 1, 2012--Pursuant to Section 31 of the Securities Exchange Act of 1934, the Commission has determined that a mid-year adjustment to the Section 31 transaction fee rate is necessary. Effective on April 1, 2012, the Section 31 transaction fee rate will be set at $22.40 per million.
The Act requires the Commission to adjust the Section 31 fee rate if it estimates that the baseline estimate of the dollar volume of sales of securities that was used to calculate the annual adjusted fee rate for fiscal year 2012 is reasonably likely to be 10 percent (or more) greater or less than the actual dollar volume for fiscal year 2012.
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Source: SEC.gov
February is Second Most-Active Trading Month in CBOE Futures Exchange History
Volume Increased 70% Over 2011, Two New Contracts Launched During Month: CBOE Brazil ETF Volatility Index and a Radar Logic Real Estate Index
March 1, 2012--The CBOE Futures Exchange, LLC (CFE) today announced that February 2012 was the second most-active trading month in CFE history as volume totaled 1,340,780 contracts, an increase of 70 percent from the 789,734 contracts traded in February 2011.
Average daily volume (ADV) at CFE during February 2012 was 67,039 contracts, the second-highest ADV ever, and up 61 percent from the 41,565 contracts traded per day a year ago. February's total trading volume trailed only the 1.8 million contracts traded in August 2011.
When comparing trading activity in February to the previous month, CFE total monthly volume rose by 65 percent from the 811,283 total contracts and average daily volume gained 65 percent from the 40,564 contracts per day during January 2012.
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Source: CBOE
Van Eck has filed with the SEC
March 1, 2012--Van Eck has filed a post-effective amendment, registration statement with the SEC. This filing relates solely to the following series of the Registrant: Market Vectors Unconventional Oil & Gas ETF.
view filing
Source: SEC.gov
ISE Reports Business Activity for February 2012
March 1, 2012-ISE was the second largest equity options exchange in February with market share of 17.8%,
excluding dividend trades.
Dividend trades made up 8.0% of industry volume in February 2012.
The International Securities Exchange (ISE) today reported average daily volume of 2.7 million contracts
in February 2012. This represents a decrease of 16.6% compared to February 2011.
Total options volume for the month was 53.5 million contracts. ISE was the second largest U.S. equity options
exchange in February with market share of 17.8%*.
Business highlights for the month of February include:
On February 8, ISE announced that it was named "Best Exchange Client Service" at the Wall Street Letter 2012 Institutional Trading Awards.
On February 13, ISE announced the launch of its Premium Access connection in its primary data center. Premium Access enables member firms with a direct connection to ISE to reduce their roundtrip network latency by up to 150 microseconds, or approximately 90 percent.
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Source: International Securities Exchange (ISE)
First Financial Bancorp, RadioShack, Altria Group Inc. Among 24 Stocks Added to Dow Jones U.S. Dividend 100 Index
Intact Financial Corp. Added to Dow Jones Canada Titans 60 Index
S-Oil Corp. and Honam Petrochemical Corp. Join
Dow Jones South Korea Titans 30 Index
Changes Follow Regular Periodic Reviews, Become Effective After Close of Trading on March 16, 2012
March 1, 2012--First Financial Bancorp (Ohio), RadioShack Corp., and Altria Group Inc. will be among 24 stocks added to the Dow Jones U.S. Dividend 100 Index, following a regular annual review, Dow Jones Indexes announced today.
The additional 21 companies to be added are RPC Inc., Reynolds American Inc., Raytheon Co., Mattel Inc., Southern Copper Corp., Cato Corp., CA Inc., Waddell & Reed Financial Inc., General Mills Inc., Maxim Integrated Products Inc., ConAgra Foods Inc., Questar Corp., Erie Indemnity Co., International Paper Co., Medtronic Inc., Eaton Corp., Wisconsin Energy Corp., Tupperware Brands Corp., Illinois Tool Works Inc., Microchip Technology Inc. and New Jersey Resources Corp.
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Source: Dow Jones Indexes
iShares files with the SEC-iShares Emerging Markets Dividend Index Fund
March 1, 2012--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares Emerging Markets Dividend Index Fund.
view filing
Source: SEC.gov
iShares files with the SEC
MArch 1, 2012--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares Asia/Pacific Dividend 30 Index Fund.
view filing
Source: SEC.gov
