Americas ETP News
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CME Group CEO Donohue to leave at end of year
March 12, 2012--CME Group Inc., owner of the Chicago Mercantile Exchange and the Chicago Board of Trade, said Monday that Chief Executive Officer Craig Donohue will step down when his contract expires at yearend.
Donohue, 50, has been CEO since 2004 and has led the company through robust growth and transformative changes in the market, including a swift march to electronic trading and the Merc’s 2007 acquisition of the Board of Trade.
CME said his duties will be shared by Executive Chairman Terrence Duffy and President Phupinder Gill, who will get the CEO title. CME said its board has extended both men’s employment contracts.
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Source: Sun Times
Tibra Joins ISE as CMM
March 12, 2012--The International Securities Exchange (ISE) announced that Tibra Trading America LLC (Tibra) has become a Competitive Market Maker (CMM) on ISE's options exchange.
Tibra is the most recent market maker to join ISE under its new CMM trading rights program, which went into effect in September 2011. Since the launch of the new CMM program, four new market makers have joined the exchange.
“We are very pleased to welcome Tibra as ISE’s newest Competitive Market Maker,” said Gary Katz, President and Chief Executive Officer of ISE. “In today’s market environment, the role of dedicated liquidity providers is more important than ever, and Tibra will join our existing market makers in providing liquid, competitive markets at ISE.”
Sam Dawson, Business Development Manager of Tibra, said, “ISE’s flexible market making program and robust technology platform offered us a compelling reason to join ISE’s market making community. We are excited to begin quoting on the ISE and to grow our business as a result.”
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Siource: International Securities Exchange (ISE)
New Study Finds That Certain Options- and Futures-Based Benchmark Indexes Could Help Manage Tail Risk of Traditional Indexes
March 12, 2012--The merits of using options-based and futures-based strategy benchmark indexes to hedge and manage tail risk is the subject of a new study-"Key Tools for Hedging and Risk Management"-released today by investment-advisory firm Asset Consulting Group (ACG).
The study, the second of two ACG papers commissioned by Chicago Board Options Exchange (CBOE), compares the performance of "traditional" indexes with the performance of five strategy benchmark indexes that use index options or VIX® futures: the CBOE S&P 500 95-110 Collar Index (CLL), CBOE VIX Tail Hedge Index (VXTH), S&P 500 VIX Mid-term Futures Index (VXMT), S&P 500 Dynamic VIX Futures Index (DyVX), and S&P 500 VIX Futures Tail Risk Index - Short Term (VTRsk).
view the Key Tools for Hedging and Risk Management study
Source: CBOE
Brazil takes more steps to curb currency
March 12, 2012--Brazil extended the reach of a financial tax on foreign debt on Monday in yet another attempt to slow an avalanche of dollar inflows that has driven up the value of its currency, threatening a fragile economic recovery.
President Dilma Rousseff extended the scope of a 6% tax known as the IOF on foreign borrowing, applying it to debt maturing in up to five years, according to a decree in the government’s official daily gazette on Monday.
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Source: FIN24
Warning on high-yield ETF returns
March 11, 2012--Investors are pouring money into high-yield bond funds as they move to embrace higher risk against a backdrop of desultory yields on investment grade corporate and sovereign bonds.
But some industry figures have warned investors that returns are likely to be significantly lower than those posted by the mainstream high-yield bond indices due to high trading costs and inefficiencies in the market.
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Source: FT.com
Update Monitoring the Economy -US Department of the Treasury
March 9, 2012--The Office of Economic Policy monitors key economic indicators to produce the following summary tables of monthly and quarterly U.S. economic statistics.
view monthly update February 2012
Source: US Department of the Treasury
DB Equity Research - North America-US ETF+ Monthly Directory-February 2012 ETPs
March 9, 2012--This document includes all US listed exchange-traded funds (ETFs) and exchange-traded vehicles (ETVs), plus a special section covering exchange-traded notes (ETNs). The directory is organized by asset class and asset-class-related sub sections.
Within each sub section it has also been sorted. For Equity and Fixed Income ETPs it is sorted by country (or sub region for regional products) in alphabetical order and by AUM in descending order, and for the other ETP asset classes it is sorted by sub sector in alphabetical order and by AUM in descending order. A number of key information points per product has been included in order to enable the reader to get an overview in their respective area of interest. Among the key numeric information we include avg. daily turnover, assets under management, and cash flows (all in $US). If you have any questions for any of the products listed, or any suggestions on how to improve the directory going forward, please do not hesitate to get in touch.
to request report
Source: Deutsche Bank -Equity Research - North America
Standard & Poor''s Announces Changes In The S&P/TSX Canadian Indices
March 9, 2012--Standard & Poor's Canadian Index Operations announces the following index changes as a result of the Quarterly S&P/TSX Composite Index Review.
These changes will be effective at the open on Monday, March 19, 2012:
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Source: Standard & Poor's
CFTC Announces Process to Designate the Provider of CFTC Interim Compliant Identifiers
March 9, 2012--The Commodity Futures Trading Commission (CFTC) is requesting submissions from industry participants who wish to be considered for designation by the Commission as the source for identifiers to be used for identification of swap counterparties in swap recordkeeping and swap data reporting under the jurisdiction of the Commission beginning on July 16, 2012.
Background. The CFTC’s final swap data recordkeeping and reporting rule, 77 FR 2136, requires swap counterparties to be identified in recordkeeping and swap data reporting pursuant to the rule by a legal entity identifier. The rule sets out both technical and governance principles that the identifier used in such reporting must follow. The rule provides that the Commission will determine, prior to the start of swap data reporting on July 16, 2012, based on factors set forth in the rule, whether an identifier system satisfying the requirements of the rule is available to provide identifiers to swap market participants required to comply with the rule. If the Commission determines that an appropriate identifier source is available, the rule calls for the Commission to designate the system as the provider of identifiers to be used in complying with the rule, by means of a Commission order.
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Source: CFTC.gov
CFTC.gov Commitments of Traders Reports Update
March 9, 2012--The current reports for the week of March 6, 2012 are now available.
view update
Source: CFTC.gov
