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ISE Reports Business Activity for September 2013
October 1, 2013--ISE and ISE Gemini(TM) combined represent 17.3% of equity options market share, excluding dividend trades.
ISE reported a combined ADV of 2.4 million contracts.
Dividend trades made up 2.7% of industry volume in September 2013.
The International Securities Exchange (ISE) today reported a combined average daily volume (ADV) of 2.4 million contracts in September 2013 for its two exchanges, ISE and ISE Gemini. This represents 17.3% of U.S. equity options market share.
Business highlights for the month of September include:
On September 30, ISE Gemini rolled out 200 additional products. Total listings on ISE Gemini now represent over ninety percent of overall equity and ETF options volume.
For the month of September, Implied Order functionality accounted for 6.5% of all non-crossing, multi-legged contract volume executed on ISE.
Detailed volume statistics are found in the tables by visiting
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Source: International Securities Exchange (ISE)
DB-Synthetic Equity & Index Strategy- North America-US ETF Investment Ideas-Implementing sector and industry strategies with ETFs
October 1, 2013--Finding the right sector and industry product
Full analysis of 54 US-listed sector and industry ETFs providing access to DB's overweight sectors and industries
Prefer the low PE cyclical sectors
DB US Equity strategists recommend overweighting all of Tech, all of Energy, Financials ex. REITs, and within their equal-weight sectors they recommend overweighting Auto, Auto Components, Media, Pharmaceuticals, Biotechnology, Aerospace & Defense, Electrical Equipment, Engineering & Construction and Chemicals. This positioning has significant cyclical and low PE tilts. The 2014E PE of their OW Industries is 13.4x vs. 16.6x for the rest of the S&P 500.
Full ETF analysis for IT, Financials, & Energy Sectors and 14 OW industries
We provide single ETF implementation ideas for 3 OW sectors and 14 OW industries; preference is given to sector exposure, market representation, and product efficiency (Figure 1). In addition, we provide details, analysis, and commentary for all 54 investable ETFs focusing on DB's OW sector and industries. We include GICS-based sector and industry exposure for more accurate peer-to-peer comparison. We also discuss the main differences among the major sector and industry index families available in the US ETF market.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy -North America
RevenueShares Launches First Revenue-Weighted Dividend ETF
RevenueShares Ultra Dividend Fund (RDIV) holds 60 high yielding stocks
October 1, 2013--RevenueShares has expanded its family of exchange-traded funds (ETFs) with the launch of the RevenueShares Ultra Dividend Fund (RDIV), which provides exposure to the 60 highest yielding dividend stocks in the S&P 900.
As the first revenue-weighted dividend ETF, RDIV is positioned to potentially capture the capital appreciation benefits of revenue-producing companies while operating with a goal of providing income-focused investors the yield they seek.
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Source: RevenueShares
FTSE Launches FTSE TMX GDCP
FTSE TMX Global Debt Capital Markets is the world's third-largest fixed income index provider
FTSE opens Toronto office to further expand operations in Canada
Existing PC Bond products to be rebranded
October 1, 2013--FTSE Group ("FTSE"), the global index provider, today announced the launch of a new global operating brand: FTSE TMX Global Debt Capital Markets.
A joint venture between FTSE and TMX Group's information services division, TMX Datalinx, FTSE TMX Global Debt Capital Markets is the third-largest fixed income index provider globally, strengthening FTSE’s position in the global fixed income market and further expanding the organisation's profile in North America.
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Source: FTSE
Deutsche Asset & Wealth Management Launches Three New Hedged Equity Exchange Traded Funds
October 1, 2013--Deutsche Asset & Wealth Management today announced the launch of three new hedged equity exchange traded funds (ETFs) on the db X-trackers platform. The new funds track MSCI hedged equity indexes and provide direct exposure to several important international equity markets, while aiming to protect against fluctuations in value of the U.S. dollar and non-U.S. currencies.
db X-trackers offers the most comprehensive suite of hedged equity ETFs in the U.S.
The three new ETFs are listed for trading on the NYSE Arca, under the following symbols:
db X-trackers MSCI Asia Pacific ex Japan Hedged Equity Fund (NYSEArca:DBAP)
db X-trackers MSCI Europe Hedged Equity Fund (NYSEArca:DBEU)
db X-trackers MSCI United Kingdom Hedged Equity Fund (NYSEArca:DBUK)
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Source: MarketWatch
CFTC's Division of Market Oversight Provides Time-Limited No-Action Relief for Swap Execution Facilities and Designated Contract Markets from the One Business Day Product Review Period Requirement of Commission Regulation 40.2(a)(2) for Newly-Listed Swap
September 30, 2013--The Commodity Futures Trading Commission's (CFTC) Division of Market Oversight (DMO or Division) today announced the issuance of a time-limited no-action letter providing relief for swap execution facilities (SEFs) and Designated Contract Markets (DCMs)
from the one business day product review period requirement of Commission regulation 40.2(a)(2) for newly-listed swap products.
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Source: CFTC.gov
CFTC's Division of Market Oversight Issues Time-Limited No-Action Relief for Temporarily Registered Swap Execution Facilities from Commission Regulation 37.6(b) for Non-Cleared Swaps
September 30, 2013--The Commodity Futures Trading Commission's (CFTC) Division of Market Oversight (Division) issued a letter providing temporarily registered swap execution facilities (SEFs) with relief from the transaction confirmation
requirement within CFTC regulation 37.6(b) for swaps that are not intended to be submitted for clearing (Non Cleared Swaps) and subject to conditions specified in the letter.
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Source: CFTC.gov
CFTC Staff Responds to Frequently Asked Questions on Commodity Options
September 30, 2013--The U.S. Commodity Futures Trading Commission (CFTC) Division of Market Oversight (DMO) staff is responding to frequently asked questions (FAQ) from market participants and other interested parties regarding commodity options.
view the CFTC Division of Market Oversight Responds to FAQs Commodity Options
Source: CFTC.gov
ISE Gemini Rolls Out 200 Additional Products
Listings on ISE Gemini Now Represent Over Ninety Percent of Overall Equity and ETF Options Volume
September 30, 2013--The International Securities Exchange (ISE) today announced that ISE GeminiTM has completed the rollout of 200 additional products. Following today's expansion, ISE Gemini now lists all options classes included in the penny pilot and the most active non-penny pilot names.
ISE Gemini has approximately 500 total products listed that together represent over ninety percent of equity and ETF options industry volume.
"The listing of an additional 200 products is an important step in continuing to grow ISE Gemini," said Boris Ilyevsky, Managing Director of ISE's Options Exchanges. "With the full complement of penny pilot names now listed on ISE Gemini, we are well positioned to effectively compete with the other maker-taker exchanges and look forward to expanded participation from new and existing member firms over the coming months."
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Source: International Securities Exchange (ISE)
U.S. financial regulators would stop some operations in long shutdown
September 30, 2013--If a budget stalemate in the U.S. Congress leads to an extended federal government shutdown, investors can expect potential interruptions to financial product approvals and new rules, though market oversight would not grind to a halt.
Most U.S. agencies would start shuttering all but the most critical operations, keeping only skeleton staffs at work, if lawmakers cannot reach a deal on a spending bill by midnight.
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Source: Reuters
