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A World of Alternatives- Consultanat 360
September 13, 2013--The shift from traditional to alternative investments has surged with an industry now hovering at $2.4 trillion and clients earmarking 25% of their allocations to these vehicles.
Clients are counting on you to help them navigate through new regulations and the bandwidth of offerings available. Click on the video link below to hear Samir Pandiri and Jim Whitaker's take on how institutional investors are reconsidering their asset-allocation strategies, managing risk and balancing liquidity with returns.
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Source: Consultanat 360 BNY Mellon
CFTC.gov Commitments of Traders Reports Update
September 13, 2013--The current reports for the week of September 10, 2013 are now available.
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Source: CFTC.gov
Euronext Amsterdam's AEX-Index Mini Futures Contract and Euronext Paris's CAC40 Index Mini Futures Contract have been Deemed Certified and may be Offered to U.S. persons through Direct Access Effective September 13, 2013
September 13, 2013--On August 21, 2013, NYSE Euronext (Euronext) requested accelerated Commodity Futures Trading Commission (CFTC) review of its Euronext Amsterdam AEX-Index mini futures contract and its Euronext Paris CAC40 Index mini futures contract so that they may be offered to U.S. persons.
Euronext also requested that the contracts may be made available through direct access terminals in the United States.
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Source: CFTC.gov
SEC Orders Exchanges to Collaborate on Bolstering Markets
September 12, 2013--U.S. securities regulators told stock exchanges to collaborate on making markets more resilient, an attempt to prevent another disruption like Nasdaq OMX Group Inc.'s three-hour halt last month.
After Securities and Exchange Commission Chairman Mary Jo White's meeting with the top executives of the nation's stock and options markets in Washington today, the regulator said it asked them to "identify a series of concrete measures designed to address specific areas where the robustness and resilience of market systems can be improved." NYSE Euronext (NYX) Chief Executive Officer Duncan Niederauer said they have 60 days to respond.
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Source: Bloomberg
U.S. exchanges to create kill switches following Nasdaq outage
September 12, 2013--U.S. stock exchanges agreed with regulators on Thursday to reforms including a "kill switch" to stop trading during emergencies, after a software glitch with Nasdaq's stock quote processor last month led to a three-hour trading halt.
Securities and Exchange Commission Chair Mary Jo White met privately in Washington with top executives of the major exchanges and later announced five reforms in response to recent trading problems.
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Source: NASDAQ OMX
iShares quietly building 401(k) business
September 12, 2013--iShares is adding a line of actively managed target-risk exchange traded funds to its massive product line, building out its list of 401(k)-friendly funds as demand begins to bud.
There are currently few target-risk ETFs on the market, and even fewer that invest directly in an underlying mix of other ETFs, experts say.
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Source: FT.com
"Hot Mess"
Statement of Commissioner Chilton to the CFTC Technology Advisory Committee
September 12, 2013--Thank you, Chairman O'Malia and thank you to the Technology Advisory Committee (TAC) members for your participation.
Technology in markets is way cool. All sorts of new and gee whiz things have been developed. The high frequency cheetah traders are killing it. I just want to ensure that they don't kill other traders, like end users, or markets or consumers.
There are some basic things that should be done now. They can't wait for a year. In fact, I hope we move on some of these things this year.
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Source: CFTC.gov
The Federal Budget: The Deficit is Down But the Fundamental Challenge Remains
September 12, 2013--Presentation to the Macroeconomic Advisers' Washington Policy Seminar
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Source: Congressional Budget Office (CBO)
Money market reform could hike muni borrowing costs-Fidelity
September 11, 2013--Fidelity Investments, the largest provider of U.S. money market funds, told Securities and Exchange Commission officials that proposed industry reform could increase the borrowing costs of U.S. municipalities by up to $13 billion, according to an SEC memo.
During an Aug. 16 meeting with the SEC's Division of Economic and Risk Analysis, Fidelity officials said U.S. municipal financing costs could increase anywhere from $1 billion to $13 billion, depending on the amount of money market-related funding that is refinanced with more expensive debt.
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Source: Reuters
Goldman Sachs, Visa & Nike Set to Join the Dow Jones Industrial Average
September 10, 2013--The Goldman Sachs Group Inc. (NYSE:GS) will replace Bank of America Corp. (NYSE:BAC), Visa Inc, (NYSE:V) will replace Hewlett-Packard Co. (NYSE:HPQ), and Nike Inc. (NYSE:NKE) will replace Alcoa Inc.
(NYSE:AA) in the Dow Jones Industrial Average (DJIA) after the close of trading on Friday, September 20. The changes will be effective with the opening of trading on Monday, September 23. The index changes were prompted by the low stock price of the three companies slated for removal and the Index Committee's desire to diversify the sector and industry group representation of the Index.
The Goldman Sachs Group, headquartered in New York, NY, provides investment banking, securities, and investment management services, as well as financial services to corporations, financial institutions, governments, and high-net-worth individuals worldwide.
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Source: Wall Street Journal
