Americas ETP News
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Private Equity Activity Slows in Latin America, According to Thomson Reuters Report
December 10, 2012--Private equity and venture capital investment in Latin America reached $1.79 billion in the first half of 2012, down 60 percent from the same period in 2011, according to the latest issue of Venture Equity Latin America from Thomson Reuters.
The report is published by WTE, part of the Tax & Accounting business of Thomson Reuters.
Private equity activity in the region has been a roller coaster ride in recent years. It climbed from $1 billion in 2005 to $7.5 billion in 2007, then dipped to about $3 billion in 2008 and 2009. It spiked the following year to $17.2 billion before declining to $5.5 billion in 2011.
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Source: Thomson Reuters
CFTC's Division of Market Oversight Issues Time-Limited No-Action Relief for Part 20 Reporting Entities Regarding Identifying Information and for Part 45 & Part 46 Reporting Counterparties Regarding Legal Entity Identifiers & Other Identifying Information
December 10, 2012--The Commodity Futures Trading Commission's (CFTC) Division of Market Oversight (Division) issued a letter providing reporting parties under Parts 20, 45 and 46 of the Commission's regulations with time-limited no-action relief from requirements to report certain identifying information regarding their non-reporting counterparties.
The Division’s no-action letter addresses Legal Entity Identifiers, other identifying swap data fields pursuant to Parts 45 and 46, and large swap trader counterparty identification information pursuant to Part 20.
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Source: CFTC.gov
CFTC's Division of Swap Dealer and Intermediary Oversight Issues No-Action Letter for Operators of Mortgage REITs
December 7, 2012--The Commodity Futures Trading Commission's (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a no-action letter to mortgage real estate investment trusts (mREITs).
The letter states that DSIO will not recommend that the CFTC take enforcement action against the operators of mREITs for failure to register as commodity pool operators under the Commodity Exchange Act and the CFTC’s regulations provided that the mREIT satisfies certain criteria including compliance with a de minimis threshold.
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Source: CFTC.gov
CFTC's Division of Swap Dealer and Intermediary Oversight Provides No-Action Relief to Swap Dealers and Major Swap Participants from Compliance with Statutory Disqualification Prohibition with Respect to their Association with Certain Persons
December 7, 2012--The Commodity Futures Trading Commission's (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) announced the issuance of limited no-action relief to Swap Dealers and Major Swap Participants (collectively, Swap Entities) from compliance with the prohibition in
Regulation 23.22(b) against permitting a person who is subject to a statutory disqualification to effect or be involved in effecting swaps on behalf of the Swap Entity.
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Source: CFTC.gov
CBO -Monthly Budget Review-Fiscal Year 2013
December 7, 2012--The federal budget deficit was $292 billion for the first two months of fiscal year 2013, $57 billion more than the shortfall recorded in October and November of last year, CBO estimates.
Without shifts in the timing of certain payments in each year, however, the deficit for the two-month period would have been about $8 billion lower this year than in fiscal year 2012.
Total Receipts Were Up by 10 Percent in the First Two Months of Fiscal Year 2013 Receipts for the first two months of in fiscal year 2013 totaled $346 billion, $30 billion more than those in the same period last year. Compared with receipts in October and November last year:
Net receipts from individual income and payroll (social insurance) taxes rose by $23 billion, or 8 percent. Increases in amounts withheld from workers’ paychecks ($21 billion, or 8 percent) accounted for most of the year-over-year gain, partly because wages and salaries were higher and partly because October 2012 had two more days on which tax payments were received than October 2011 did. Nonwithheld receipts, mainly from filings of 2011 tax returns by people who had received filing extensions, increased by $2 billion. Receipts from corporate income taxes, which are quite small at this point in the year, have been slightly less.
view the CBO Monthly Budget Revue-Fiscal Year 2013
Source: Source: CBO (Congressional Budget Office)
BlackRock ETP Landscape-Industry Highlights-November 2012
December 7, 2012--In November ETPs attracted strong flows of $25.0bn, bringing the year-to-date total to $218.9bn. The previous year-to-date record through November of $208.5bn was set in 2008 during the global credit crisis.
Year-to-date global ETP flows have already surpassed 2011’s full year total of $173.4bn.
ETP investors split across the risk spectrum allocating $2.7bn to safe-haven Treasuries - with flows cadenced near US elections - while also maintaining a degree of risk appetite through the purchase of US Equities which garnered $8.2bn, and EM Equities and EM Bonds which together drew in $6.2bn.
Over the year-to-date, fixed income has been a key growth driver, attracting 31% of all inflows with $67.8bn, well ahead of the $50bn collected in 2011.
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Source: BlackRock
S&P Dow Jones Indices Announces Changes In Canadian Indices
A Deletion From The S&P/TSX Composite Index
December 7, 2012--The shareholders of Viterra Inc. (TSX:VT) have accepted the $CDN16.25 cash per share offer from Glencore International plc (LSE:GLEN). Viterra will be removed from the S&P/TSX Composite and Capped Composite,
the S&P/TSX Equity and Capped Equity, the S&P/TSX Completion and Equity Completion, the S&P/TSX Composite Dividend, the S&P/TSX Composite Equal Weight and the S&P/TSX Capped Consumer Staples Indices effective after the close of Friday, December 14, 2012.
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Source: S&P Dow Jones
CFTC Commitments Of Traders Reports Update
December 7, 2012--The current reports for the week of December 4, 2012 are now available.
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Source: CFTC.gov
Exclusive: Schwab eyes commission-free ETF supermarket-sources
December 7, 2012--Charles Schwab Corp has been quietly meeting with exchange-traded fund providers to try to persuade them to join a new network that would make ETFs available commission-free to the brokerage's 8.6 million customers.
ETF providers, however, have been reluctant to sign on to Schwab's plan because they would have to pay the firm a marketing fee they say is too high, according to people with knowledge of the discussions.
SEC Lifts Restriction on Active ETFs' Derivativates Use
December 7, 2012--The U.S. Securities and Exchange Commission cleared one obstacle for exchange-traded funds that try to beat benchmarks by lifting a ban on the funds' use of derivatives.
Proposed funds will have to meet requirements on managing risk and disclosure, Norm Champ, director of the division of investment management, said yesterday in a speech at a New York conference for investment advisers. The agency still won’t approve new ETFs that use derivatives to amplify returns or provide the inverse performance of an index.
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Source: Bloomberg
