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CFTC and SEC Staffs to Host Public Roundtable Discussion on Proposed Dealer and Major Participant Definitions under Dodd-Frank Act
June 10, 2011-- The staffs of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) today announced that they intend to hold a joint public roundtable on June 16, 2011, to discuss proposed definitions required under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
The Dodd-Frank Act provides that the CFTC and the SEC, in consultation with the Federal Reserve, must work jointly to further define the meaning of certain key terms including “swap dealer,” “security-based swap dealer,” “major swap participant” and “major security-based swap participant.” Title VII also provides for the registration of dealers and major participants, and will subject them to a number of statutory requirements including capital, margin and business conduct requirements.
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Source: SEC.gov
Deutsche Bank Launches Suite of International Currency-Hedged Exchange Traded Funds
June 9, 2011--Deutsche Bank today announced the launch of five new Exchange Traded Funds (ETFs) linked to currency-hedged MSCI International indexes. These ETFs are designed to provide investors direct exposure to international equity markets and aim to protect against fluctuations in value of the U.S. dollar and non-U.S. currencies.
The ETFs will be listed for trading on the NYSE Arca, under the following symbols:
db-X MSCI Japan Currency-Hedged Equity Fund (NYSE Arca:DBJP)
db-X MSCI Brazil Currency-Hedged Equity Fund (NYSE Arca:DBBR)
db-X MSCI Canada Currency-Hedged Equity Fund (NYSE Arca:DBCN)
db-X MSCI EAFE Currency-Hedged Equity Fund (NYSE Arca:DBEF)
db-X MSCI Emerging Markets Currency-Hedged Equity Fund (NYSE Arca:DBEM)
Deutsche Bank’s newest ETFs expand a product line that now includes 49 Exchange Traded Products (ETPs) in the US with $14.9 billion assets under management (AUM), and 281 ETPs globally with $67 billion AUM. The ETFs seek to provide investment results that, before fees and expenses are applied, correspond generally to the price and yield performance of their respective benchmark indexes. The funds are designed to provide exposure to equity securities globally, while at the same time seeking to mitigate exposure to fluctuation between the value of the U.S. dollar and non-U.S. currencies by also investing in currency forwards
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Source: Deutsche Bank
Muni bond funds end outflow streak
June 9, 2011--Mutual and exchange traded funds that buy US municipal bonds took in a net $274m this week, snapping a 29-week streak of net redemptions as fears of local defaults eased, according to data compiled by Lipper, the fund tracker.
Since last November, investors had stampeded out of the $3,000bn market where US states and cities raise money, withdrawing about $50bn from US “muni” funds
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Source: FT.com
MSCI index shift poses ETF tax threat
June 9, 2011--Many investors in emerging markets exchange traded funds risk an unexpected tax bill if a potential upgrade of South Korea and Taiwan this month to developed-country status in a key market benchmark goes ahead.
A rebalancing of MSCI’s emerging market index would expose US holders of ETFs based on the benchmark and other similar indices to taxable capital gains, drawing attention to the increasing complexity of the fast-growing market for exchange traded products.
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Source: FT.com
Component Changes Made to Dow Jones China Indexes
Changes Are a Result of a Regular Index Review
June 9, 2011--Dow Jones Indexes, a leading global index provider, today announced the results of a regular index review of the Dow Jones China Index series. Component changes in the Dow Jones China Broad Market Index, Dow Jones Shanghai, Dow Jones Shenzhen, Dow Jones CBN China 600 and Dow Jones CBN China 600 Sector Blue Chip Indexes will be effective after the close of trading on Friday, June 17, 2011.
With 30 additions and two deletions, the number of components in the Dow Jones China Broad Market Index will increase to 1434 from 1406 with 1389 A shares and 45 B shares. The Dow Jones China Broad Market Index reflects approximately 95% of the free-float market capitalization for both the Shanghai and Shenzhen markets.
The number of components in the Dow Jones Shanghai Index will increase to 766 from 758, with nine additions and one deletion, while the number of components in the Dow Jones Shenzhen Index will increase to 668 from 648 components, with 21 additions and one deletion. The Dow Jones Shanghai and Dow Jones Shenzhen indexes represent approximately 95% of the free-float market capitalization of their respective markets.
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Source: Dow Jones Indexes
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
June 9, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Thursday, June 9, 2011:
IC Potash Corp. (TSXVN:ICP) will be removed from the index.
The company will graduate to trade on TSX under the same ticker symbol.
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
Component Changes Made to Dow Jones Global Exchanges Index
June 9, 2011-- Dow Jones Indexes, a leading global index provider, today announced the results of the regular quarterly review of the Dow Jones Global Exchanges Index. The changes will be effective after the close of trading on Friday, June 17, 2011.
.C. Bursa de Valori Bucuresti S.A. (Romania, BVB.RO) will be added to the Dow Jones Global Exchanges Index, which brings the total number of components to 24.
The current 23 components are ASX Limited (Australia, ASX.AU), BM&F Bovespa S.A. Bolsa de Valores Mercadorias e Futuros (Brazil, BVMF3.BR), Bolsa de Valores de Colombia S.A. (Colombia, BVC.BO), Bolsa de Valores de Lima S.A. (Peru, BVLAC1.VL), Bolsa Mexicana de Valores S.A.B. de C.V. Series A (Mexico, BOLSA.MX), Bolsas y Mercados Espanoles S.A. (Spain, BME.MC), Bursa Malaysia Bhd (Malaysia, 1818.KU), CBOE Holdings Inc. (United States, CBOE), CME Group Inc. Cl A (United States, CME), Deutsche Boerse AG (Germany, DB1.XE), Dubai Financial Market PJSC (United Arab Emirates, DFM.A), Hellenic Exchanges Holdings S.A. (Greece, EXAE.AT), Hong Kong Exchanges & Clearing Ltd. (Hong Kong, 0388.HK),
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Source: Dow Jones Indexes
Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices
June 9, 2011--Standard & Poor's Canadian Index Operations announces the following index changes:
It is expected that the shareholders of International Coal Group, Inc. (NYSE:ICO) will accept the $US14.60 cash per share offer from Arch Coal, Inc. (NYSE:ACI).
The bid for International Coal expires before the opening of markets on June 14, 2011. Assuming the bid is successful, International Coal will be removed from the S&P/TSX Global Mining Index after the close of Tuesday, June 14, 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 & Pooor's
Component Changes Made to Dow Jones Summer/Winter Games Index
June 9, 2011--Dow Jones Indexes, a leading global index provider, today announced the results of the regular quarterly review of the Dow Jones Summer/Winter Games Index.
G4S PLC (United Kingdom, Industrial Goods & Services, GFS.LN), OSI Systems Inc. (United States, Industrial Goods & Services, OSIS) and Rio Tinto PLC (United Kingdom, Basic Resources, RIO.LN) will be added to the Dow Jones Summer/Winter Games Index.
G4S PLC, OSI Systems Inc. and Rio Tinto PLC and are being added because the companies are new official suppliers of the London 2012 Olympic Summer Games.
No components will be deleted from the Dow Jones Summer/Winter Games Index as a result of this review.
The changes in the Dow Jones Summer/Winter Games Index will increase the number of components to 37 from 34. As of June 8, 2011, the float market capitalization of the reconstituted Dow Jones Summer/Winter Games Index increased to US$1,486.6 billion from US$1,378.8 billion.
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SOurce: Dow Jones Indexes
Claymore files with the SEC-Guggenheim Enhanced Total Return ETF
June 9, 2011--Claymore has filed a post-effective amendment, registration statement with the SEC for the Guggenheim Enhanced Total Return ETF.
view filing
Source: SEC.gov
