BlackRock Asks European Regulators To Delay New ETF Rules
(LONDON / BRUSSELS) BlackRock, the world’s largest provider of exchange traded funds, is asking Europe’s main financial regulator to delay the implementation of any rule changes for ETFs until next year, arguing it is not practical to bring in new guidelines in 2012, the FT reports recently. The European Securities and Markets Authority has said
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UK Regulator Declares ETF Concerns
(LONDON) The Financial Services Authority detailed its concerns about exchange-traded funds at an investment conference in London last week, with the UK regulator emphasising there were important differences between physical and synthetic ETFs that investors should be made aware of, the FT reported on Sunday. Tony Hanlon, manager of the FSA’s asset management sector team,
DetailsSpain Unveils Toughest Budget Since 70s
(MADRID / LONDON) Many Spaniards disagree on many matters with Cristóbal Montoro, the uncharismatic cabinet minister who unveiled his 2012 budget on Friday. But few could dispute his claim that his was “the most austere budget” since the restoration of Spain’s democracy in the 1970s, the FT reports. With tax rises for companies and individuals
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Nasdaq OMX Postpones Competitive Clearing in Scandinavia
(STOCKHOLM) The Nordic exchange arm of Nasdaq OMX Group Inc. said that it will delay the introduction of competitive clearing in Nordic cash equity market beyond the April 2012 target date, according to a recent Securities Technology Monitor article. Nasdaq OMX Nordic has worked to develop a competitive cash clearing model since 2009, but company
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NYSE Euronext Bringing Derivatives Clearing In-House in Europe
(NEW YORK/PARIS) NYSE Euronext said it will bring the clearing of all futures, options and other derivatives contracts in Europe in-house, by 2014, Securities Technology Monitor recently reported. All clearing of contracts on its NYSE Liffe derivatives market, at the end of the transition, will be conducted by a central counterparty called NYSE Liffe Clearing.
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Singapore’s SGX Merges Technology and Operations Units
(SINGAPORE / LONDON) The Singapore Exchange is merging its operations and technology units. They will be aligned under the newly-created role of chief operations and technology officer. The move comes as the exchange reorganized its operations into five business units: derivatives; listings; market data & access; post-trade and securities, according to Securities Technology Monitor. Fixed income business will
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Hong Kong Exchange Launches $380M Upgrade
(HONG KONG) Hong Kong Exchanges and Clearing Limited Wednesday launched a $380 million technology program, called Orion, according to Securities Technology Monitor. The upgrade will bring in higher-speed network connections, build out a modern data center and new systems for order matching, market data dissemination and market access services. The new infrastructure and platforms will
DetailsMorningstar Released Top Picks Q2-2012 and Market Outlook
(NEW YORK CITY) Economic data from the U.S. also looked solid in the first three months of the year. As Morningstar’s Bob Johnson puts it in his Outlook for the Economy, the U.S. appears to be on a path of “slow but steady growth,” with employment and retail sales looking promising. Stabilization in the eurozone
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US Markets Closed Their Strongest Quarter In More Than Two Years
(NEW YORK CITY) Stocks closed their strongest quarter in more than two years on a positive note on Friday, led by recently underperforming sectors, including energy and health care, reports Reuters. Despite falling six out of the last nine sessions, the S&P 500 gained 12 percent in the first quarter, its best start of the
DetailsProShares Launches New Inverse Treasury ETF
(BETHESDA) ProShares, recently announced the launch of ProShares UltraPro Short 20+ Year Treasury (NYSE: TTT). The ETF seeks to provide -3x the daily performance of the Barclays Capital U.S. 20+ Year Treasury Bond Index, before fees and expenses. TTT is the third ProShares ETF providing inverse exposure to long-term Treasurys. In addition to TTT, ProShares
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Tech-ETFs: A Good Way to Join Apple-mania?
(NEW YORK CITY) Everyone wants a piece of Apple these days, but at $600 a share, it’s pricey. Exchange-traded funds with significant exposure to the tech giant may be a way for some investors, Karina Frayter writes in a recent article. “Technology ETFs have been great ways to take part in Apple’s stellar run so
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