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Appeals Court Upholds Determination that CBOE Patents are Invalid
March 30, 2016--The United States Court of Appeals for the Federal Circuit (Appeals Court) on Friday, March 25, 2016, affirmed the decision of the Patent Trial and Appeal Board (PTAB) of the U.S. Patent and Trademark Office (USPTO) that invalidated three CBOE patents (US Patent Nos. 7,356,498, 7,980,457 and 8,266,044).
The Appeals Court agreed with ISE and found that all three patents are invalid. These patents formed the basis of litigation that CBOE brought against ISE in the case of Chicago Board Options Exchange, Incorporated v. International Securities Exchange, LLC (Case No. 1:13-cv-01339-JMF).
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Source: ISE.com
State Street to buy GE Asset Management for up to $485m
March 30, 2016--State Street Corp. has been spending a lot of time cutting costs. Now it's going to spend some money in a bid to boost profits.
The Boston-based custody bank and asset manager said Wednesday it agreed to acquire GE Asset Management, the pension arm of General Electric Co., for as much as $485 million in cash.
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Source: Boston Globe
Argentina prepares return to market after 15 years
March 29, 2016--The image of President Obama held in a clinch by an Argentine tango dancer during his tour of Latin America has gone viral at just the right time for emerging markets.
In the next few weeks, Argentina is planning the largest and most anticipated sale of emerging market debt so far this year, and pictures of the US president in Buenos Aires will help to sell the story of a country resetting its relationship with the international capital markets after 15 years in the cold.
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Source: FT.com
CBO-Updated Budget Projections: 2016 to 2026
March 24, 2016--CBO projects a $534 billion deficit in fiscal year 2016, about $100 billion more than in 2015.
If current laws generally remained unchanged, the deficit would increase from 2.9 percent to 4.9 percent of GDP over the next decade.
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Source: Congressional Budget Office (CBO)
Wall Street pushes back on trading tax
March 23, 2016--Wall Street is mobilizing against proposals to tax financial transactions as the idea gains attention on the campaign trail and in Congress.
The idea already has one high-profile supporter, Democratic presidential candidate Bernie Sanders.P>view more
Source: thehill.com
ProShares Inflation ETF to Change Index and Name
March 23, 2016--ProShares announced that its inflation ETF (NYSE Arca: RINF) will be changing its benchmark to the Citi 30-Year TIPS (Treasury Rate-Hedged) Index.
The ETF's name also will be changing. These changes will be effective on or about April 15, 2016.
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Source: ProShares
Victory Capital Launches Emerging Market Equity ETF
New Strategic Beta ETF Provides an Alternative Approach For Investing in Emerging Markets
March 23, 2016--Victory Capital today announced that it has launched the Victory CEMP Emerging Market Volatility Wtd Index ETF (CEZ), which began trading on the Nasdaq Stock Market(R) on March 23, 2016.
The new ETF is managed by Victory Capital's CEMP investment franchise (formerly "Compass EMP").
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Source: VICTORY CAPITAL
Robo-advisor Wealthsimple launches Responsible Investment Portfolios
Canadian fintech leader targets socially conscious investors, launches responsible investment portfolio options
March 22, 2016--Wealthsimple, Canada's leading online investing service, announced they have launched responsible investment portfolios.
In recent years, the demand for clients looking to align their values with their investments has increased dramatically. SRI has grown tenfold over the past 20 years-there are now $22 trillion in assets worldwide in SRI funds. In Canada alone, SRI accounts for 20% of all financial assets.
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Source: Wealthsimple
'Godfather of smart beta' defends attack
March 18, 2016--Rob Arnott is used to antagonising people. But even he is surprised by the anger he has generated from senior executives and academics in the investment industry.
They have taken exception to his warnings published in a study last month that smart beta, an investment strategy that sits between active and passive management, could go "horribly wrong".
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Source: FT.com
First Trust Dividend and Income Fund's Board Approves Merger into First Trust High Income ETF, an Actively Managed Exchange-Traded Fund
March 18, 2016--First Trust Advisors L.P. ("FTA") announced today that the Board of Trustees of First Trust Dividend and Income Fund (NYSE: FAV), a closed-end fund managed by FTA, approved the merger of FAV into First Trust High Income ETF (Nasdaq: FTHI), a series of First Trust Exchange-Traded Fund VI (the "Trust"), and an actively managed exchange-traded fund ("ETF") managed by FTA.
The merger has also been approved by the Board of Trustees of the Trust. FTHI will be the surviving fund.
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Source: First Trust Advisors
