Traders Manipulated Key Rate
(OTTAWA) According to a recent WSJ report, a group of traders and brokers successfully managed to manipulate an interest rate that affects loans around the world, one of the banks being investigated has told regulators. In a court filing in Ottawa, Canada’s Competition Bureau said a bank it didn’t identify has told the agency’s investigators
DetailsNYSE Euronext Goes to Plan B
(NEW YORK CITY / LONDON) NYSE Euronext said it is making a bid to buy 25 percent of Fixnetix, which supplies a variety of services to high-speed traders in 50 markets around the world. The operator of the New York Stock Exchange said 90 percent of Fixnetix shareholders had already accepted its offer. NYSE Euronext
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New Regulatory Pressure For US ETF Issuers
(NEW YORK CITY) US banks are pushing for their activities around exchange-traded funds to be exempt under the so-called Volcker rule, highlighting the importance of the funds as a tool for the big financial institutions that create and sell them, Tracy Alloway and Telis Demos wrote in the FT. Banks often act as “authorised participants”
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New Tax-Saving Tips By Morningstar
(NEW YORK CITY) True, you can’t rewrite the tax code, but investors can carefully manage their investing plan to cut the individual tax bill. Morningstar experts, including the director of personal finance Christine Benz, will do just that. They will keep investors current on pertinent tax-law changes, including possible tax hikes in 2013, with practical
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FSA Fines Broking Boss GBP350k For Insider Trading
(LONDON) The Financial Services Authority (FSA) has fined Andrew Osborne, the former managing director of corporate broking at Merrill Lynch, for market abuse by disclosing inside information ahead of a significant equity fundraising by Punch Taverns, CityWire reports. The City regulator handed out a £350,000 fine, saying the breach dated back to the pub group’s June 2009 fundraising. Osborne acted on
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New Vola Futures and Options On Samba ETF
(CHICAGO / SAO PAULO) CBOE Holdings, Inc. recently announced that Chicago Board Options Exchange and CBOE Futures Exchange will each launch a new ETF-based volatility index product in the coming weeks. The two new products are: CBOE Brazil ETF Volatility Index security futures (VXEW) First trading day: Tuesday, February 21 on CFE CBOE Brazil ETF Volatility
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China Takes Application for First ETF
(BEJING / KONG KONG) China’s securities regulator has accepted an application to launch the country’s first exchange-traded fund linked to Hong Kong-listed shares, marking another step toward further opening China’s tightly-controlled capital account and offering Chinese investors fresh access to securities overseas. The move will cater to the growing appetite among Chinese investors for assets
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First Leveraged EmMa ETF Launched On Xetra
(FRANKFURT) An additional equity index fund issued by ComStage, the ETF brand of Commerzbank, has been tradable on Xetra. For the first time, investors in Europe have the opportunity to participate in the performance of the MSCI Emerging Markets Index with a double leverage. The fund is called “ETF name: ComStage ETF MSCI Emerging Markets
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BATS Attacks NYSE ETF And Stock Listings
(LENEXA/ NEW YORK CITY) Bats Global Markets Inc. released an announcement that it won’t charge the biggest companies a fee to list shares on its venue. Corporations and exchange-traded funds with average daily volume of two million shares won’t pay anything annually to list on the BZX Exchange, Lenexa, Kansas-based Bats said in a statement.
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European ETF Industry Summary January 2012
(LONDON) The European ETF industry enjoyed a fresh start into the year 2012. The European ETF industry improved on its poor run in December (outflows of €2.1 billion) and received cash inflows of €2.4 billion in January. Most of the flows went into ETFs tracking equity benchmarks (€1.5 billion) with healthy contributions by other asset
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US ETF Industry Summary January 2012
(NEW YORK CITY) The success story continues: According to the latest industry figures, there are 1,191 Exchange Traded Funds (ETFs)—with assets totaling $1,139BN—were managed by 36 ETF managers as of January 31, 2012. Month over month, ETF assets increased just over $89BN, up 8.5%. The US ETF flows topped $28BN in January 2012. The Fixed
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