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Charles Schwab cuts fees on ETFs by up to 60%
September 21, 2012--Charles Schwab Corp. has slashed fees on 15 of its proprietary exchange-traded funds, reducing expense ratios by 25% to roughly 60% in a move designed to
attract more investors, and one that follows BlackRock Inc.'s disclosure that it plans cuts of its own.
During a conference call with members of the media, Marie Chandoha, president of Charles Schwab Investment Management, said the weighted average on Schwab's lineup of ETFs would now be 7.7 basis points, down from 12.9 basis points.
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Source: MarketWatch
VelocityShares Plans Three Emerging Markets ADR ETFs
September 21, 2012--Investors who buy the U.S.-listed American depositary receipts of emerging-market companies such as Petrobras (PBR) or China's Sinopec (SNP) may soon have three new broad, index-tracking options.
VelocityShares and ALPS ETF Trust just filed plans with regulators for three Nasdaq-listed emerging-markets exchange-traded funds, each of which would hold ADRs. Here’s the filing for the would-be VelocityShares Emerging Markets DR ETF, VelocityShares Russia Select DR ETF and VelocityShares Emerging Asia DR ETF.
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Source: Barron's
Global X Funds To Liquidate 4 ETFs
September 21, 2012--Global X Funds, the New York-based provider of exchange-traded funds (ETFs), today announced the scheduled liquidation of the following Global X Funds ETFs:
Global X Aluminum ETF (NYSE: ALUM)
Global X Auto ETF (NYSE: VROM)
Global X NASDAQ 500 ETF (NASDAQ: QQQV)
Global X NASDAQ 400 Mid Cap ETF (NASDAQ: QQQM)
The Funds combined represent less than 1% of the assets of the Global X Funds. The Board of Trustees of Global X Funds unanimously determined on September 20, 2012 that it was in the best interests of the Funds and their shareholders to liquidate each of the Funds.
The Funds will cease trading at the end of the trading day on October 18, 2012 and will liquidate on October 26, 2012. Any person holding shares in the Funds as of the liquidation date of October 26, 2012 will receive a cash distribution equal to the net asset value of their shares as of that date. Global X Management Company, LLC, the adviser to the Funds, will bear all fees and expenses that may be incurred in connection with the liquidation of the Funds and the distribution of cash proceeds to investors, other than brokerage fees and expenses.
For additional information about the liquidation, shareholders of the Funds may call 1-888-GX-FUND-1 (1.888.493.8631
Source: Global X
ISE and MEB Options Introduce Spread Crawler
A New Tool that Provides Insight on Real-Time Spread Orders via Instant Message
September 20, 2012--
The International Securities Exchange (ISE) today announced that it has partnered with MEB Options to introduce Spread CrawlerTM, a new tool that provides powerful insight through Instant Messaging (IM) into the entire universe of real-time actionable spread orders.
This unique product aggregates streaming spread book data from all options exchanges and transmits individual, user-defined spread orders to subscribers via IM. Spread Crawler simplifies the monitoring of live spread book feeds, while displaying spreads that satisfy customized pre-defined parameters.
“Our partnership with MEB Options represents the first step in expanding ISE’s product offerings to include a suite of unique trading tools and analytical capabilities,” said Gary Katz, President and CEO of ISE. “MEB has developed a simple but powerful user tool that supports this high-growth segment of the options market, and we are extremely gratified that they selected ISE as a partner to expand the reach of this compelling product offering.”
read more Sen. Reed calls for review of markets in wake of glitches read more CFTC.gov Commitments of Traders Reports Update The Fed calls the tune in bond markets read more SEC no match for high-tech traders read more WisdomTree Launches First China Dividend ex-Financials Fund (CHXF)
Luciano Siracusano, WisdomTree Chief Investment Strategist, stated "The case for investing in China has become increasingly apparent to investors, but we believe some of the most popular China index-based strategies fail to offer diversified exposure. In fact, the FTSE China 25 Index1 -- tracked by the biggest China ETF in the U.S. -- has more than 50% of its weight in the financial sector. 2 We think investors should be able to access the growth potential of China without taking on such concentration risk, and have designed CHXF to offer a broader, diversified basket of Chinese dividend-paying securities." view more
Treasury International Capital Data for July 2012
Foreign residents increased their holdings of long-term U.S. securities in July – net purchases were $60.2 billion. Net purchases by private foreign investors were $37.7 billion, and net purchases by foreign official institutions were $22.5 billion.
At the same time, U.S. residents decreased their holdings of long-term foreign securities, with net sales of $6.8 billion.
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Source: International Securities Exchange (ISE)
September 20, 2012--An influential U.S. lawmaker pledged on Thursday to take a closer look at the safety and soundness of the equity markets following a recent string of technology glitches on Wall Street.
Senator Jack Reed, who chairs the Senate Banking subcommittee on securities, said the recent incidents including Nasdaq's botched handling of the Facebook IPO and the massive losses unleashed by Knight Capital's software error, raise concerns about potential systemic risks to the marketplace.
Source: Reuters
September 20, 2012--The current reports for the week of September 18, 2012 are now available.
view updates
Source: CFTC.gov
September 19, 2012--QE "infinity" has arrived-and with it a whole new set of challenges for fixed income investors.
If there was any doubt before about the Federal Reserve’s commitment to drive investors into riskier assets, Ben Bernanke has dispelled it.
Source: FT.com
September 19, 2012--The Securities and Exchange Commission is hopelessly outgunned in resources and technical savvy by the computerised traders it regulates, a leading US senator has warned ahead of a hearing into recent stock market glitches.
Senator Jack Reed said a hearing set for Thursday will be the first in a series investigating whether the market structure created by the SEC contributed to the near failure of Knight Capital and the botched flotations of Facebook and BATS Global Markets. It will also examine whether some high-frequency traders have an unfair advantage.
Source: FT.com
CHXF Offers Diversified Exposure to Growth Potential of China
Fund removes volatility of financial sector, presenting meaningful alternative to traditional China index-based strategies
September 19, 2012-- WisdomTree (WETF), an exchange-traded fund ("ETF") sponsor and asset manager, today announced the launch of the WisdomTree China Dividend ex-Financials Fund (CHXF) on the NASDAQ Stock Market.
CHXF is designed to provide broad-based exposure to Chinese dividend-paying stocks outside of the financial sector and has an expense ratio of 0.63%.
Source: WisdomTree Investments, Inc
September 18, 2012--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for July 2012. The next release, which will report on data for August 2012, is scheduled for October 16, 2012.
The sum total in July of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $73.7 billion. Of this, net foreign private inflows were $59.0 billion, and net foreign official inflows were $14.7 billion.
Source: US Department of the Treasury
