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TRLPC: Electronic messaging system for loan market set to be released
July 15, 2015--A final standard for an electronic messaging system that seeks to eliminate the use of faxes in the $840 billion U.S. leveraged loan market may be released as early as this week.
The International Swaps and Derivatives Association (ISDA) is preparing to release a final version of Financial products Markup Language (FpML) for loan servicing messages that communicate events between the agent bank and lender through the life cycle of the loan, including inventory holding positions and interest rate resets, according to Bhavik Katira, chief executive officer at consulting-firm TenDelta and chair of the ISDA loan FpML working group.
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Source: Reuters
Convergex To Launch New ETF Direct Platform
July 15, 2015--Convergex, an agency-focused global brokerage and trading related services provider, today announced its plans to launch a new agency-only ETF quote-sourcing platform, ETF DirectSM.
Functionality for the new platform will include:
The ability to request competitive quotes simultaneously from multiple liquidity providers including those in niche markets and sectors.
Complete anonymity for clients and market makers.
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Source: Convergex Group
UBS ETRACS Launches 2X Leveraged S&P MLP Index ETN
Offering Significant Income Potential
July 15, 2015--UBS Investment Bank announced that today is the first day of trading on the NYSE Arca(R)for the ETRACS 2xMonthly Leveraged S&P MLP Index ETN (NYSE Arca(R): MLPV), which is linked to the monthly compounded 2x leveraged performance of the S&P MLP Index (the "Index").
MLPV Profile
Underlying Index: S&P MLP Index
2x Index Yield:* 12.49%
Income Potential: Variable quarterly coupon linked to 2 times the cash distributions, if any, of the Index constituents
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Source: UBS
Bond Swings Studied Enough; Time for Rules, SEC Official Says
July 15, 2015--The feverish price swing for Treasuries last October, and repeated warnings from investors that there are liquidity problems in the U.S. bond market elicited a cautious plan from regulators this week: more study.
But one member of the U.S. Securities and Exchange Commission took exception with that circumspect approach, arguing that authorities know plenty already and it's time for action.
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Source: Bloomberg
Bank of Canada-Monetary Policy Report-July 2015
July 15, 2015--Economic growth in Canada is projected to average just over 1 per cent in 2015 and about 2 1/2 per cent in 2016 and 2017.
view the Bank of Canada-Monetary Policy Report-July 2015
Source: Bank of Canada
Herd Mentality in U.S. Stocks Is Making for Wilder Rides in VIX
July 14, 2015--Big moves in U.S. stocks have been so rare lately that when they do happen, the rush to hedge is violent.
Anxiousness among investors has led to unusually large jumps in the Chicago Board Options Exchange Volatility Index, which measures hedging costs on the Standard & Poor's 500 Index. When calm has been restored, the volatility gauge has dropped just as quickly.
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Source: Bloomberg
O'Shares Launches Smart-Beta ETF "OUSA" on NYSE Arca
First U.S. ETF from Kevin O'Leary's O'Shares
July 14, 2015--The New York Stock Exchange today welcomed the O'Shares FTSE US Quality Dividend ETF to NYSE Arca, the premier exchange for listing exchange traded funds (ETFs).
Trading under the ticker symbol OUSA, the fund provides access to large and mid-cap U.S. issuers, selected based on quality, low volatility and dividend yield. It is the first in a series of smart-beta index-based ETFs expected to be listed in the U.S. by O'Shares.
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Source Intercontinental Exchange
FTSE Russell Introduces New US Quality Dividend Index
July 14, 2015--Expands FTSE Global Factor Index Series to US equity markets
Responds to investor demand for more efficient ways to combine factor exposures
O'Shares to use index as the basis for new suite of ETFs
Leading global index provider FTSE Russell today announced the launch of the FTSE US Qual/Vol/Yield Factor Index. The Index represents an expansion of the FTSE Global Factor Index Series and reflects specific factor characteristics-quality, low volatility and yield-for U.S. large- and mid-cap companies.
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Source: FTSE
U.S. lawmaker cites delays, Labor Dept interference, in request to SEC
July 14, 2015--A Republican senator is accusing the U.S. Securities and Exchange Commission of failing to release records that he says are crucial to understanding how a controversial plan to tighten conflict-of-interest rules at Wall Street brokerages was drafted.
In a July 13 letter seen by Reuters, Homeland Security and Government Affairs Committee Chairman Ron Johnson told SEC Chair Mary Jo White he is frustrated that his nearly three-month-old request has not been fulfilled.
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Source: Reuters
SEC Looking Into Fake Web Report That Sent Twitter Up 8%
July 14, 2015--The U.S. Securities and Exchange Commission is looking into possible market manipulation over a fake news article that led to a brief spike in Twitter Inc. shares, said a person familiar with the matter.
Twitter rose more than 8 percent in the late morning after the appearance of the article, which claimed the company had received a takeover offer, before losing most of those gains within 20 minutes.
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Source: Bloomberg
