Americas ETP News
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Finra's surprising thumbs-up for gold ETFs
August 26, 2011--Regulatory warnings have become part of the background music for exchange traded funds, so this week’s timely “investor alert” on potential gold-related investment risks issued by the US’s Financial Industry Regulatory Authority, or Finra, would hardly bear mentioning, except it doesn’t warn against ETFs.
In fact, it holds out ETFs as commendable alternatives to flashier gold stocks. “While you may be tempted to invest in a single stock, it is very risky to put all your ‘golden eggs’ in one basket,” the warning says. “Investing through a mutual fund or exchange traded fund (ETF) that focuses on gold companies or gold itself can help spread out and potentially lower your risk.”
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Source: FT.com
BM&FBOVESPA and Shenzhen Stock Exchange Sign Memorandum of Understanding
August 26, 2011--BM&FBOVESPA (BVMF) and Shenzhen Stock Exchange (SZSE) announced today that signed a memorandum of understanding (MOU) which includes personnel exchange, mutual training, information and experience sharing.
The MOU was signed by Ms Song Liping, President of Shenzhen Stock Exchange, and Mr. Edemir Pinto, CEO of BM&FBOVESPA, during the 5 th International, Financial and Capital Market Conference.
Source: BM&FBOVESPA
Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices
August 26, 2011--Standard & Poor's Canadian Index Operations announces the following index changes:
On August 25, 2011, the bid by Nyrstar NV (Brussels:NYR) to acquire Breakwater Resources Ltd. (TSX:BWR) expired and was successful. Nyrstar will acquire Breakwater for $CDN7.00 cash per share.
Breakwater will be removed from the S&P/TSX SmallCap and Equity SmallCap, the S&P/TSX Global Base Metals and Equal Weight Global Base Metals and the S&P/TSX Global Mining Indices effective after the close of Wednesday, August 31, 2011.
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
BlackRock Seeks to Start Exchange-Traded Funds Using Proprietary Indexes
August 26, 2011--BlackRock Inc. (BLK), the world’s largest money manager, is seeking regulatory clearance for its iShares exchange-traded funds to follow proprietary indexes rather than those developed by third parties such as Standard & Poor’s.
The application, filed by iShares yesterday with the U.S. Securities and Exchange Commission, would allow future and existing funds to use in-house indexes the firm will create. IShares, a San Francisco-based subsidiary of BlackRock, ranks as the biggest provider of index-based ETFs with some $649 billion in assets under management in more than 460 funds.
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Source: Bloomberg
CFTC.gov Commitments of Traders Reports Update
August 26, 2011--The current reports for the week of August 23, 2011 are now available.
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Source: CFTC.gov
CME Raises Margin Requirements for Trading Gold Futures
August 25, 2011--The CME Group on Wednesday raised maintenance margins for trading COMEX 100-ounce gold futures by 27 percent, effective after the close of business on Aug 25.
The exchange operator raised maintenance margins on gold futures for speculators to $7,000 per contract from $5,500.
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Source: CNBC
Component Changes Made To Dow Jones Australia Select Dividend 30 Index
August 25, 2011--Dow Jones Indexes, a leading global index provider, today announced that Downer EDI Ltd. (Australia, Construction & Materials, DOW.AU) will be removed from the Dow Jones Australia Select Dividend 30 Index.
Downer EDI Ltd. (Australia, Construction & Materials, DOW.AU) will be deleted from the Dow Jones Australia Select Dividend 30 Index and replaced by QBE Insurance Group Ltd. (Australia, Insurance, QBE.AU).
Downer EDI Ltd. is being removed due to the cancellation of its dividend payment. All changes will be effective before the open of trading on Tuesday, August 30, 2011.
The Dow Jones Australia Select Dividend 30 Index represents the country’s top 30 stocks by dividend yield.
Further information on the Dow Jones Australia Select Dividend 30 Index can be found at www.djindexes.com.
Source: Dow Jomes Indexes
BNP Paribas files with the SEC
August 25, 2011--BNP Paribas Has filed a pre-effective amendment NO. 2 TO
Form S-1 with the SEC for the BNP Paribas S&P Dynamic Roll Global Commodities Fund
view filing
Source: SEC.gov
Opening Remarks, Conference on Commodity Markets
Chairman Gary Gensler
August 25, 2011--Good morning and welcome to the Commodity Futures Trading Commission (CFTC). It’s great to see economists from so many fine universities across the globe gathered here along with an impressive group of government experts. Thank you for graciously sharing your time to discuss the issues affecting commodity markets. Your insights should be helpful to our surveillance and enforcement efforts at this agency.
I want to thank Andrei Kirilenko and the Office of the Chief Economist for putting this conference together and for their contributions to this agency. Before you get started, I’m going to give you an update about where we stand today with the CFTC’s response to the aftermath of the 2008 financial crisis.
2008 Crisis
Three years ago, our country’s largest financial institutions were trading swaps in the shadows and this marketplace contributed to and helped accelerate the financial system’s downward spiral. Though the crisis had many causes, it is clear that the swaps market played a central role. Swaps added leverage to the financial system – more risk was backed by less capital. There was a belief that certain financial institutions were not only too big to fail but too interconnected to fail. But when AIG, Lehman and others collapsed, it was the taxpayers who had to pick up the bill to prevent the economy from diving further into a depression. And it wasn’t just the financial system that failed. The regulatory system that was put in place to protect the public failed too.
The Dodd-Frank Act
Congress and the President came together and responded to this crisis by passing a historic law, the Dodd-Frank Wall Street Reform and Consumer Protection Act. The law includes many important provisions, but two overarching goals of reform include: bringing transparency to the swaps market and lowering the risks of this market to the overall economy. Both of these reforms protect taxpayers from again bearing the brunt of a crisis and lower costs for businesses and their customers.
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Source: CFTC.gov
Rydex files with the SEXC
August 25, 2011--Rydex has filed a Amedment No. 2 to Form FORM S-1 registration statenment with the SEC for the CurrencyShares® Chinese Renminbi Trust.
view filing
Source: SEC.gov
