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Market Vectors Reduces Expense Cap for Indonesia Index ETF (IDX)
First U.S.-listed Indonesia-focused ETF reducing expense cap for the second time; Fund currently holds Morningstar 5-star ratings in both 3-year and overall categories
May 1, 2012--Van Eck Associates Corporation is lowering the expense cap for its Market Vectors Indonesia Index ETF (NYSE Arca: IDX) from 60 basis points (bps) to 57 bps, effective today.
This marks the second time in IDX’s more than three-year history that its expense cap has been lowered.
IDX seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Indonesia Index (MVIDXTR), a rules-based, modified market capitalization-weighted, float-adjusted index intended to give investors exposure to Indonesia. As of March 31, the fund had approximately $537 million in assets under management.
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Source: Van Eck Global
ETFs Growing Faster Than Mutual Funds
Five Star Equities Provides Stock Research on the SPDR S&P 500 ETF and the Daily Small Cap Bull 3X Shares ETF
May 1, 2012--ETFs have been gaining popularity among investors as a result of the poor performance of actively managed funds. The low costs, transparency, liquidity, and better tax efficiency are some of the major reasons ETFs are being chosen over mutual funds.
"That's what makes us the best game in town for investors and it is the reason why ETFs are growing faster than mutual funds," Jonathan Steinberg, founder & CEO of WisdomTree, said in a recent interview with Yahoo Finance. Five Star Equities examines the outlook for Exchange Traded Funds and provides equity research on the SPDR S&P 500 ETF and the Direxion Daily Small Cap Bull 3X Shares ETF.
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Source: Five Star Equities
NASDAQ OMX Launches New Options Based on MSCI Indexes
MSCI Emerging Markets and EAFE Index Options are the Only Cash-Settled Options Available in the U.S. on These Major Global Indexes
May 1, 2012--The NASDAQ OMX Group, Inc. (NDAQ - News) announced today the launch of MSCI Emerging Markets (EEMIQ) and MSCI EAFE (EAFEQ) Index Options, which will be the latest U.S. options listings offered at NASDAQ OMX PHLX. They are the first and only listed cash-settled options available in the U.S. on these major global indexes.
Beginning today, these listings are available to investors who seek direct exposure to a previously untapped market with a cash-settled options offering that exactly tracks the performance of the index. NASDAQ OMX PHLX market participants will be among the first to trade this offering and may use MSCI EM and MSCI EAFE Index Options to track the performance of the index, employ additional trading strategies for cash-settled index options and gain more opportunity to hedge.
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Source: NASDAQ OMX
OIC Announces April Options Trading Volume Decreased 5%
May 1, 2012--The Options Industry Council (OIC) announced today that 319,640,606 total options contracts changed hands in April, 4.71 percent less than the 335,425,947 contracts traded in April 2011.
Average daily trading volume in April was 15,982,030 contracts, 4.71 percent lower than the 16,771,298 contracts in the same year ago period. Year-to-date volume for April stood at 1,380,749,815 contracts, which is 7.04 percent lower than the 1,485,309,264 contracts traded at the same point last year.
Equity options volume (options on individual stocks and ETFs) for April came in at 295,433,916 contracts, down 5.94 percent compared to April of last year when 314,102,867 contracts were exchanged. On average, 14,771,696 contracts changed hands each day in April, which is 5.94 percent lower than daily average from the previous April of 15,705,143 contracts. Equity options year-to-date volume came in at 1,279,941,692 contracts, down 7.72 percent compared to the 1,387,063,516 contracts traded throughout the same period last year.
Source: OIC
ISE Reports Business Activity for April 2012
May 1, 2012--ISE was the second largest equity options exchange in April with market share of 18.3%, excluding dividend trades.
Dividend trades made up 4.5% of industry volume in April 2012.
The International Securities Exchange (ISE) today reported average daily volume of 2.6 million contracts
in April 2012.
This represents a decrease of 10.7% compared to April 2011. Total options volume for the
month was 52.0 million contracts. ISE was the second largest U.S. equity options exchange in April with
market share of 18.3%*.
Business highlights for the month of April include:
On April 26, 2012, ISE was named “Most Proactive Exchange for ETF Options/Derivatives” at the 8th Annual Global ETF Awards® Dinner and Workshop. Hosted by exchangetradedfunds.com, the Global ETF Awards are awarded to ETF industry participants for outstanding achievements in 2011 and recipients are selected by ETF industry professionals representing over 520 organizations worldwide.
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Source: International Securities Exchange (ISE)
Statement of Chairman Gary Gensler on the Proposed Interpretative Statement Regarding the Confidentiality and Indemnification Provision in the Dodd-Frank Wall Street Reform and Consumer Protection
Chairman Gary Gensler
May 1, 2012--Commodity Futures Trading Commission Chairman Gary Gensler today issued the following statement:
"I support the proposed interpretative statement regarding the application of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) indemnification provisions for swap data repositories (SDRs). The Commission is working closely with international regulators on a collaborative approach regarding how data may be accessed by regulators.
The proposed guidance, which benefited from international input, states the Commission’s view that foreign regulators will not be subject to the indemnification provisions in the Dodd-Frank Act if the SDR is registered, recognized or otherwise authorized by foreign law and the data to be accessed is reported to the SDR pursuant to foreign law. The public will now have an opportunity to comment on the proposed guidance, and I look forward to the public’s input.”
Source: CFTC.gov
Direxion files with the SEC
April 30, 2012--Direxion has filed a post-effective amendment, registration statement wiuth the SEC for Direxion Shares ETF Trust.
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Source: SEC.gov
ISE Launches ISE Premium Hosted Database
Comprehensive Tick Data and Analytics
Hosted Solution Provides Straightforward Access to over 200 Terabytes of Data
April 30, 2012 --The International Securities Exchange (ISE) announced today that it has launched the ISE Premium Hosted Database (ISE PhD).
ISE PhD is a fully managed historical tick database that offers full OPRA data including all quotes and trades from all exchanges, U.S. equities level one data, pre-computed implied volatilities and Greeks, full corporate action histories, and ISE Open/Close trade data.
This hosted solution is ideal for full tick or time interval back-testing, validating algorithms, pre/post trade analysis, charting, scanning and time and sales. Subscribers benefit from a “pay as you go” pricing model that is flexible and customized to their specific data requirements. ISE PhD is easily accessible through a web browser interface with pre-defined queries or directly through a standard API. In addition to internet access, a variety of connectivity alternatives are offered for ISE PhD, including a cross-connect at ISE’s primary data center (Equinix NY4), through a secure FTP server or via a direct connection from one of many managed connectivity providers, such as BT Radianz.
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Source: International Securities Exchange (ISE)
CME Group Expands Multi-Asset Class OTC Offering with First Cleared FX Non-Deliverable Forward
April 30, 2012--CME Group, the world's leading and most diverse derivatives marketplace, announced today that on April 27 the company cleared its first customer FX Over-the-Counter Non Deliverable Forward (NDF) trade, further expanding the company's market leading OTC solution across multiple asset classes. The currency cleared was the Brazilian Real.
The company also offers NDF clearing for the Chinese Renminbi Yuan, Philippine Peso, Malaysian Ringgit, Indian Rupee, Korean Won, Taiwan Dollar, Chilean Peso, Colombian Peso, Peruvian Sol, Russian Ruble and Indonesian Rupiah.
"As the leader in cleared OTC U.S. customer volume, clearing our first customer FX NDF trade adds to our already robust, multi-asset class OTC clearing service," said Laurent Paulhac, CME Group Managing Director, OTC Products & Services. "Clients see a lot of value in leveraging the same risk, operational and legal infrastructure across interest rate swaps, credit default swaps and foreign exchange. We continue to work with buy-side, sell-side and clearing member firms to further develop our overall OTC offering and FX has become a key priority for clients in the last few months."
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Source: CME Group
Canadian securities regulators grant Designated Rating Organization status under new regulatory framework
April 30, 2012--The Canadian Securities Administrators announced today the official designation of DBRS Limited, Fitch, Inc., Moody's Canada Inc., and Standard & Poor's Rating Services
(Canada) as Designated Rating Organizations (DROs) under applicable Canadian securities laws, as contemplated under National Instrument 25-101 Designated Rating Organizations (NI 25-101).
On April 20, 2012, NI 25-101 came into force, establishing a regulatory framework for the oversight of credit rating organizations, by permitting them to apply for DRO status. This
framework is consistent with international regimes applicable to credit rating agencies.
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Source: CSA
