Americas ETP News
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ProShares files with the SEC
November 14, 2011--ProShares has filed a post-effective amendment, registration statement with the SEC for the ProShares Sovereign Fiscal Strength ETF.
view filing
Source: SEC.gov
MarketShares files with the SEC
November 14, 2011--MarketShares has filed an application for exemptive relief with the SEC for actively-managed ETFs.
view filing
Source: SEC.gov
PowerShares files wih the SEC
October 14, 2011--PowerShares has filed a post-effective amendment, registration statement with the SEC for the
PowerShares KBW Bank Portfolio
PowerShares KBW Regional Banking Portfolio
PowerShares KBW Capital Markets Portfolio
PowerShares KBW Insurance Portfolio
view filing
Source: SEC.gov
Russell files with the SEC
October 14, 2011--Russell has filed a post-effective amendment, registration statement with the SEC for the
Russell Developed ex-U.S. Low Beta ETF
Russell Developed ex-U.S. High Beta ETF
Russell Developed ex-U.S. High Volatility ETF
Russell Developed ex-U.S. High Momentum ETF
view filing
Source: SEC.gov
BofA Says Regulators May Limit Transfer of Merrill Contracts
November 11, 2011--Bank of America Corp. may be prevented by regulators from shifting derivatives contracts into the books of a deposit-taking unit, potentially forcing the lender to hand over more collateral to counterparties.
The lender has designated the retail-deposit unit, Bank of America NA, as the new counterparty on some Merrill Lynch contracts after the company’s credit ratings were cut in September, it said last week in a filing. The Federal Reserve and Federal Deposit Insurance Corp. have disagreed over the moves, and they are now discussing whether to allow future transfers, according to people with knowledge of the matter.
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Source: Bloomberg BusinessWeek
NY Fed Not Considering Higher Capital Standards for Dealers.
November 11, 2011--Speculation the MF Global Holdings Ltd. collapse is driving the Federal Reserve Bank of New York to consider higher capital standards for its primary dealer is wrong, the central bank says.
The so-called list of primary dealers is a critical part of how the Fed makes monetary policy. These elite banks, numbering 21 firms, do business directly with the central bank when it buys, sells and lends bonds to achieve the objectives of the Federal Open Market Committee. The dealers, some of which are under direct Fed regulatory supervision and some of which are not, are viewed as having the central bank’s stamp of approval, having met the specialized criteria to become primary dealers.
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Source: Wall Street Journal
ISDA Publishes Discussion Paper on: "Costs and Benefits of Mandatory Electronic Execution Requirements for Interest Rate Products"
November 10, 2011--The International Swaps and Derivatives Association, Inc. (ISDA) today announced the publication of an in-depth discussion and analysis of the impact of electronic execution requirements on over-the-counter (OTC) derivatives markets that were mandated by the Dodd-Frank Act.
The paper, “Costs and Benefits of Mandatory Electronic Execution Requirements for Interest Rate Products,” was developed by ISDA staff and consultants in conjunction with NERA Economic Consulting, which assisted with research and analysis.
The paper explores and analyzes whether the market structure being developed by the Commodity Futures Trading Commission to implement these requirements will meet the CFTC’s key goals: increase the efficiency of the market by reducing transaction costs, improving access to markets and increasing transparency. The paper also assesses the costs and expenses that market participants and ultimately end-users are likely to bear as a result of the mandate’s implementation.
The paper finds that:
OTC derivatives pricing is extremely competitive, compares favorably to similar futures products and, unlike futures execution, is available in large transactions.
The electronic execution mandate and the proposed new regulatory framework will limit choice for end-users and ultimately increase transaction costs.
The possible benefits for small end-users will be no more than $1,000 for a $10 million interest rate swap before fees for execution and clearing. Any net benefit for small end-users will be dramatically outweighed by costs to the market as a whole.
view discussion paper-Costs and Benefits of Mandatory Electronic Execution Requirements for Interest Rate Products
Source: ISDA
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite And Select Indices
November 10, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite and Select Indices:
The shares of Realm Energy International Corporation (TSXVN:RLM) will be removed from the S&P/TSX Venture Composite and Venture Select Indices after the close today, Thursday, November 10, 2011.
The shares of the company will be delisted from the TSX Venture Exchange at the same time following the completion of an Arrangement Agreement whereby the company has been acquired by San Leon Energy plc.
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
Global X files with the SEC
November 10, 2011--Global X has filed a post-effective amendment, registration statement with the SEC for the Global X Permanent ETF.
view filing
Source: SEC.gov
iShares files with the SEC
November 10, 2011-iShares has filed a post-effective amendment, registration statement with the SEC for the iShares S&P International Preferred Stock Index Fund.
view filing
Source: SEC.gov
