James Ross News
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If you are convinced, really convinced, the price of crude oil will rise today and U.S. stocks will fall, Factor Advisors LLC has an exchange-traded fund for you.
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State Street Corp., the second- largest manager of exchange-traded funds, opened three products that can spread money across a range of asset classes in a push into actively managed ETFs.
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The May 6 stock market plunge in the U.S. exposed hazards in the use of exchange-traded funds during periods of volatility, ETF sponsors such as State Street Global Advisors’ James Ross said at a panel today in New York.
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Instinet Inc., a broker that owns more than a dozen alternative venues, will expand a platform using so-called volume-weighted average price, in which orders are matched from buyers and sellers who are willing to wait for the market to generate a price over time.
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Lehman Brothers Holdings Inc. , the investment bank liquidating in bankruptcy, asked a judge for approval to hire Sotheby’s to sell off an art collection at a public auction in September, according to court filings.
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The U.S. Securities and Exchange Commission’s plan to impose halts on stocks that swing more than 10 percent may be followed by more measures to slow trading.
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Prudential Plc Chairman Harvey McGrath defended the British insurer’s failed $35.5 billion takeover of AIA Group Ltd. after investors called for him and Chief Executive Officer Tidjane Thiam to quit.
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Prudential Plc , the U.K.’s biggest insurer, promoted Mike Wells to chief executive officer of its U.S. division and appointed two new non-executive directors as it reorganizes the board after a failed takeover bid in Asia.
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Prudential Plc Chairman Harvey McGrath said he has a mandate to continue in the role after more than a fifth of investors opposed his re-election following the British company’s failed bid for AIA Group Ltd last year.
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Investors, traders and regulators underappreciate the harm caused by the fragmentation of trading across a dozen public markets with different rules and conventions, said Dave Cummings of Tradebot Systems Inc.
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