Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:SEC OKs Bond ETFs Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 29, 2002

GREEN LIGHT
SEC OKs Bond ETFs

by: Sean Hanna, Editor in Chief

The Securities and Exchange Commission has ok'd seven applications made by Barclay's Global to offer the first fixed income exchange-traded funds . The decision has been expected and was hinted at last Friday by SEC Chairman Harvey Pitt in his address to the Investment Company Institute General Membership Meeting last Friday.

The SEC promulgated word of its decision at a public meeting today. There will be a 25 day public comment period during which the SEC will listen to input on the decision. Barclays plans to offer the new products as early as this summer if no hurdles are raised during the comment period. Pitt also used the meeting as a platform to suggest that applications such as Barclays' be made more quickly. He cited the Commission's decade long experience with the process as a reason for a more generic approval process to be created.

One of the issues that Pitt said was a concern at the SEC was how the bond-ETFs would be arbitraged to keep any discount or premium to the fund's NAV within a narrow range.

The new bond ETFs will be based on six indices created by Lehman Brothers and one from Goldman Sachs. The Lehman indices are all based on Treasury issues and the Goldman index is a corporate debt index, according to a report made by Dow Jones. 

See the list of all the 2002 Most Influential People



Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use