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U.S. Treasury's Miller Urges More Transparency in Swaps Markets
March 3, 2014--U.S. regulators will focus this year on improving transparency in derivatives markets and continue to analyze whether asset-management firms pose a potential risk to economic stability, the U.S. Treasury Department's top domestic-finance official said.
Mary Miller, the undersecretary for domestic finance and acting deputy secretary, said she will emphasize the "need for an effective swaps data reporting regime, one designed to ensure that we have the information necessary to develop a comprehensive picture of market exposures and risks." She was to speak at a conference held by the Institute of International Bankers in Washington today.
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Source: Bloomberg
ISE Holdings Reports Business Activity for February 2014
March 3, 2014--ISE and ISE Gemini(TM) combined represent 16.0% of equity options market share, excluding dividend trades.
ISE and ISE Gemini reported a combined ADV of 2.6 million contracts.
Trading of multi-legged strategy orders on ISE through Implied Order functionality exceeded 25 million contracts.
Dividend trades made up 1.1% of industry volume in February 2014.
The International Securities Exchange Holdings, Inc. (ISE Holdings) today reported a combined average daily volume (ADV) of 2.6 million contracts in February 2014 for its two exchanges, ISE and ISE Gemini. This represents 16.0% of U.S. equity options market share.
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Source: ISE (International Securities Exchange)
Sector SPDR Analyzer + Equal Sector Weight ETF (EQL) -March 2014
March 3, 2014--This month's Select Sector SPDR and Equal Sector Weight ETF Analyzer reports are ready for download..
Daily data updates for these and 750+ ETFs are available at ETF Research Center
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Source: AltaVista Research
PIMCO to Liquidate the PIMCO Broad U.S. Treasury Index Exchange-Traded Fund
Proceeds to Be Distributed to Shareholders in March
February 28, 2014--PIMCO, a leading global investment management firm, announced today that the PIMCO Broad U.S. Treasury Index Exchange-Traded Fund (Ticker: TRSY) will be liquidated (the "Liquidation") on or about March 14, 2014 ("Liquidation Date").
The Board of Trustees of PIMCO ETF Trust determined that the Liquidation was in the best interest of TRSY and its shareholders.
It is expected that March 10, 2014 will be TRSY's last full day of trading on NYSE Arca, Inc. ("NYSE Arca"). Pursuant to this schedule, NYSE Arca is expected to halt trading in shares of TRSY before the market open on March 11, 2014.
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Source: PIMCO
S&P Dow Jones Indices' Market Attributes-Index Dashboard-Latin America
February 28, 2014--Breaking the recent trend, Latin American equities rose in February as the S&P MILA 40 and S&P Latin America 40 posted gains of 5% and 2%, respectively.
Mexico was the lone country in the Latin America BMI to decline (-4%). Performance was mixed among Latin America BMI sectors, with financials and consumer discretionary leading the winners and telecom (-8%) lagging.
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Source: S&P Dow Jones Indices
S&P Dow Jones Indices' Market Attributes-Index Dashboard-Canada
February 28, 2014--This month's highlights include:
Equities in Canada, as with equities in the rest of the world, had a good February. Both the S&P/TSX Composite and S&P/TSX 60 were up 4%. Volatility ticked lower as the S&P/TSX 60 VIX declined 10%.
All ten sectors of the S&P/TSX Composite were up for the month. Among them, materials led with a gain of 6% and telecom, which was more or less flat, was the laggard.
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Source: S&P Dow Jones Indices LLC
S&P Dow Jones Indices' Market Attributes: Index Dashboard US
February 28, 2014--Highlights this month include:
U.S. stocks rebounded from last month's decline as the Dow Jones Industrial Average and S&P 500 both gained more than 4%.
The S&P 500 ended the month with another record close (1859). Volatility ticked lower as the S&P 500 VIX Short-Term Futures index declined 13%.
With the exception of telecom, all sectors of the S&P 500 gained in February. Materials and consumer discretionary were the leaders, gaining 7% and 6%, respectively. The third best sector, health care, also delivered the best sectoral performance over the last 12 months (39%).
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Source: S&P Dow Jones Indices
CFTC Staff Re-Issues Frequently Asked Questions on Commodity Options
February 28, 2014--In an effort to address questions the U.S. Commodity Futures Trading Commission (Commission) has received regarding the Trade Option Form (Form TO) filing process and the circumstances which trigger the filing requirement, to day the Division of Market Oversight (DMO) is re-issuing the Frequently Asked Questions (FAQs) document on this topic.
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view the Frequently Asked Questions Regarding Commodity Options
Source: CFTC.gov
Revisions to CBO's Projection of Potential Output Since 2007
February 28, 2014--As part of its economic and budgetary projections, CBO estimates past and future potential output-also called potential gross domestic product (GDP), and defined as the maximum sustainable amount of real (inflation-adjusted) output that the economy can produce.
For various reasons, CBO's projections for potential GDP in a specific year can change over time. This report examines a change in CBO's projections of potential output for the year 2017, comparing the projection it published in January 2007 with the one it released in February 2014. From the earlier projection to the more recent, CBO’s projection for potential output in 2017 declhttp://www.cbo.gov/sites/default/files/cbofiles/attachments/45150-PotentialOutput.pdfined by 7.3 percent.
view the Revisions to CBO's Projection of Potential Output Since 2007
Source: Congressional Budget Office (CBO)
SEC Said to Ask Banks to Explain Exchange-Traded Note Disclosure
February 28, 2014--The U.S. Securities and Exchange Commission is asking whether banks are adequately explaining the risks of exchange-traded notes, a step toward its first new guidance for the market in almost eight years, according to people familiar with the matter.
The agency sent banks a letter earlier this month that focuses on fees they charge when issuing the notes, the values of the securities and how they are marketed, according to the people, who asked not to be identified because they weren't authorized to speak publicly. ETNs are a type of bank debt traded on exchanges that use derivatives to wager on everything from gold and stocks to volatility indexes.
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Source: Bloomberg
