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CFTC.gov Commitments of Traders Reports Update
December 13, 2013--The current reports for the week of December 10, 2013 are now available.
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Source: CFTC.gov
S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices
A Deletion From The S&P/TSX SmallCap Index
December 12, 2013--S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
The shareholders of Angle Energy Inc. (TSX:NGL) have approved an Arrangement Agreement with Bellatrix Exploration Ltd. (TSX:BXE).
Angle Energy shareholders will receive a combination of cash and Bellatrix Exploration shares for each share held. Angle Energy will be removed from the S&P/TSX SmallCap Index after the close of trading on Monday, December 16, 2013.
Source: S&P Dow Jones Canadian Index Services
Invesco PowerShares Provides Estimated Long-Term Capital Gains Information for 2013
December 12, 2013--Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), announced today that it expects to deliver zero long-term capital gains distributions across 108 of 115 equity and fixed-income ETFs for 2013.
"At Invesco PowerShares we are proud of our product line's tax efficient track record," said Dan Draper, Invesco PowerShares managing director of global ETFs. "Once again this year, we are pleased to report that the vast majority of PowerShares ETFs did not have long-term capital gains distributions."
The seven PowerShares ETFs expected to make capital gains distributions this year represent less than 1% of total franchise assets. All seven of these Funds are expected to see long-term capital gains distributions under 1% of NAV per share.
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Source: Market Watch
Smart Beta ETFs Poised for Growth Among Institutional Asset Managers
Independent Research Reveals Increased Institutional Interest in Non-Market Cap Weighted ETFs
December 11, 2013--nstitutional investors report they are increasingly using smart beta Exchange Traded Funds (ETFs), according to a new study conducted by Cogent Research, a division of Market Strategies International.
The results reveal that more than half (53%) of institutional decision makers will increase their use of smart beta ETFs over the next three years --higher than any other ETF category, including market-cap weighted ETFs (48%).
"These results echo what we are hearing from our clients and confirms what we have seen with industry-wide flows: non-market cap weighted ETFs have captured 25% of the equity ETF inflows year to date, despite representing only 12% of the assets," said John Hoffman, Invesco PowerShares director of ETF institutional sales and capital markets. "Furthermore, the research results show that interest in the smart beta category is being driven by a desire to improve risk-adjusted returns, reduce volatility and gain access to more sophisticated weighting methodologies."
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Source: Invesco PowerShares Capital Management LLC
Bipartisan Budget Act of 2013
December 11, 2013--The legislation, offered as an amendment to H.J. Res. 59, the Continuing Appropriations Resolution, 2014, would revise the limits on discretionary appropriations for fiscal years 2014 and 2015, allowing for higher levels of funding in those years than is allowed under the caps and budget enforcement procedures in current law.
CBO estimates that, if appropriations for 2014 and 2015 equaled the revised limits, discretionary outlays would be roughly $62 billion higher over the 2014-2023 period than if appropriations for those years equaled the limits in current law. (Nearly $48 billion of the anticipated increase in discretionary outlays would occur in 2014 and 2015.)
view the Bipartisan Budget Act of 2013
Source: Congressional Budget Office (CBO)
CFTC.gov Swaps Report Update
December 11, 2013--CFTC's Weekly Swaps Report has been updated, and is now available.
The proposed version of the Swaps Report provides a detailed weekly snapshot of the notional outstanding (on both a gross and net basis) as of the previous Friday, as well as a detailed weekly total of the transaction volume (on both a ticket volume and dollar volume basis) ending the previous Friday, in four asset classes (interest rate swaps, credit default swaps, equity swaps, and other commodity swaps).
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Source: CFTC.gov
UBS Launches Exchange-Traded Note with Significant Monthly Income Potential and 2x Leveraged Exposure to a Closed-End Fund Index
ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN
December 11, 2013--UBS Investment Bank announced that today is the first day of trading on the NYSE Arca(R) for the ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN (NYSE:CEFL).
CEFL is linked to the monthly compounded 2x leveraged performance of the ISE High Income(TM) Index (the "Index"), reduced by investor fees.
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Source: UBS
ROBO-STOX(TM) Global Robotics and Automation ETF Surpasses $25 Million In Assets Under Management
ETF Tracking the Robotics/Automation Industry's First Benchmark Index Achieves Major Asset Milestone Following First Month of Trading
December 11, 2013-- ROBO-STOX LLC, the world leader in developing investment solutions targeting the robotics and automation space, has announced that the ROBO-STOX(TM) Global Robotics and Automation Index ETF (ROBO) amassed more than $25 million in assets under management as of November 30, 2013.
The Fund became available to investors on NASDAQ through the Exchange-Traded Concepts platform on October 22, 2013.
"The rapid accumulation of assets in our exchange-traded fund provides evidence of the overwhelming interest from investors in the worldwide robotics and automation sector," said Rob Wilson, Chief Executive Officer of ROBO-STOX.
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Source: ROBO-STOX LLC
Nasdaq plans "dark pool" for U.S. Treasuries
December 10, 2013--Nasdaq OMX Group plans to create a so-called dark pool for electronic U.S. Treasuries trading where buying and selling interest is not revealed, even on a post,trade basis, the company's chief executive officer said on Tuesday.
Nasdaq, which runs the No. 2 U.S. equities exchange, closed its $750 million acquisition of eSpeed, an electronic Treasuries-trading platform formerly run by BGC Partners Inc, in July.
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Source: Reuters
Agencies Issue Final Rules Implementing the Volcker Rule
December 10, 2013--Five federal agencies on Tuesday issued final rules developed jointly to implement section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Volcker Rule").
The final rules prohibit insured depository institutions and companies affiliated with insured depository institutions ("banking entities") from engaging in short-term proprietary trading of certain securities, derivatives, commodity futures and options on these instruments, for their own account.
The final rules also impose limits on banking entities' investments in, and other relationships with, hedge funds or private equity funds.
Like the Dodd-Frank Act, the final rules provide exemptions for certain activities, including market making, underwriting, hedging, trading in government obligations, insurance company activities, and organizing and offering hedge funds or private equity funds. The final rules also clarify that certain activities are not prohibited, including acting as agent, broker, or custodian.
view the final rules
Source: FRB
