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CFTC's Division of Clearing and Risk Announces Revised Compliance Schedule for Required Clearing of iTraxx CDS Indices
February 25, 2013--The Division of Clearing and Risk (DCR) of the Commodity Futures Trading Commission today received notice from ICE Clear Credit LLC that it has begun offering customer clearing of the iTraxx CDS indices
that are subject to the clearing requirement under Regulation 50.4(b) and section 2(h) of the Commodity Exchange Act (CEA).
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Source: CFTC.gov
VIX Futures Set New Single-Day Volume Record Today: 302,278 Contracts
February 25, 2013 - The CBOE Futures Exchange, LLC (CFE(R)) announced today that CBOE Volatility Index(R)(VIX(R) index) futures set an all-time single-day volume record of 302,278 contracts (estimated).
Today's daily record eclipsed the previous VIX futures single-day record of 221,323 contracts traded on January 2, 2013.
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Source: CBOE
US watchdog set to weaken derivatives rules
February 22, 2013--A leading US regulator is poised to water down rules for derivatives trading that critics argue will allow global banks to preserve their dominance of the market.
Mark Wetjen, seen as the swing vote on the five-person Commodity Futures Trading Commission, recommended this week in a confidential agency memorandum that the CFTC alter its proposed rule regarding derivatives marketplaces, or "swap execution facilities", according to people who have seen the document.
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Source: FT.com
Vix up sharply on fears over US stimulus
February 22, 2013--Fears of an early end to quantatitive easing by the US Federal Reserve shook investors out of a new year slumber this week<, sending Wall Street's "fear gauge" to its highest level in months.
A midweek sell-off dragged the S&P 500 back near the 1,500 mark and pushed equity volatility measures up from multiyear low levels as view more
Source: FT.com
S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices-A Deletion From The S&P/TSX Venture Composite And Venture Select Indices
February 22, 2013--S&P Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
The shareholders of Western Wind Energy Corp. (TSXVN:WND) have approved the takeover offer whereby the company will be acquired by Brookfield Renewable Energy Partners L.P. (TSX:BEP.UN).
Shareholders of Western Wind Energy will receive $CDN2.60 cash per share held.
Western Wind Energy will be removed from the S&P/TSX Venture Composite and Venture Select Indices after the close of Friday, March 1, 2013.
Source: S&P Canadian Index Services
CFTC.gov Commitments of Traders Reports Update
February 22, 2013--The current reports for the week of February 19, 2013 are now available.
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Source: CFTC.gov
Two Democrats try for long-shot financial transaction tax
February 22, 2013--Two congressional Democrats said on Tuesday they will revive a bill to tax financial transactions after 11 euro zone countries won approval for such a tax.
The two liberal Democrats, Senator Tom Harkin and Representative Peter DeFazio, said they would re-introduce their proposal to add a 3 cents tax on each $100 in financial transactions, which according to the congressional Joint Tax Committee could raise $352 billion over a decade
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Source: Reuters
New Vanguard Group CIO appoints equity index leader, others
February 22, 2013--Vanguard Group Inc on Friday named Joseph Brennan as the new leader of its Equity Index Group, overseeing more than 80 U.S. and international index funds and exchange-traded funds with roughly $1 trillion in assets.
Brennan's appointment and several other manager changes announced by Vanguard on Friday mark key early moves by Vanguard Chief Investment Officer Tim Buckley. He took over the job at the start of the year from long-time CIO Gus Sauter, who retired.
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Source: Reuters
Schwab ETFs(TM) Achieve New Milestone: $10 Billion in Assets Under Management
February 21, 2013--Investors searching for core, low-cost exchange-traded funds (ETFs) to use as the building blocks of their portfolios helped push Schwab ETFs to a new milestone: the suite of 15 equity and fixed income ETFs reached $10.02 billion in assets under management as of February 8, 2013.
Charles Schwab Investment Management (CSIM) reached this threshold just slightly more than three years after launching its first proprietary ETFs in November 2009.
“I want to thank investors for choosing Schwab ETFs as the right place for their hard-earned assets,” said Marie Chandoha, president of CSIM. “For Schwab ETFs, what matters most is that we continue evolving to meet client demand for quality ETFs in key asset classes at an incredible value. And, we think that crossing the $10 billion mark in such a short period of time is just the beginning.”
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Source: Charles Schwab
What to watch: Newest ETFs don't focus on stocks
February 21, 2013--The economic calendar Friday is the business equivalent of crickets chirping: There's really nothing much going on. But there's always something going on in the world of exchange traded funds-and lately, it's been anything but stocks.
ETFs are the hottest item out of the mutual fund industry. Unlike garden-variety funds, you can buy and sell ETFs throughout the trading day.
The ETF industry now has $1.4 trillion in assets in 1,194 funds, vs. nothing and none in 1992. More keep coming: 12 have launched this year. Despite the stock market's gains this year, just three are diversified stock funds.
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Source: USA Today
