Money Management Executive Latest News

Direxion, a pioneer in providing alternative investment strategies to sophisticated investors, announced Thursday it will execute a 1-for-5 reverse split of the shares of the Daily 3x Bear funds: the Direxion Daily Energy Bear 3x Shares (ERY), Direxion Daily Real Estate Bear 3x Shares (DRV), Direxion Daily Small Cap Bear 3x Shares (TZA) and Direxion Daily Technology Bear 3x Shares (TYP) for shareholders of record after the close of the markets on Wednesday, July 7, 2010.

NYSE Technologies on Thursday will introduce a service that displays up-to-the-minute statistics on how fast it delivers details on orders and transactions to customers.

Can Angelina Jolie explain credit default swaps and securitization to America?

Standard & Poor’s and Financial Research Corp. announced a content-licensing and distribution agreement Thursday whereby FRC data will be available on S&P’s MarketScope Advisor platform for financial advisers. Terms of the agreement, including financial considerations, were not disclosed. An S&P spokesman denied the deal is a precursor to an acquisition of FRC from its parent, private equity firm Mercatus Partners LLC.

Investor confidence has declined, but concerns over the European economy appear to be easing, a monthly Bank of America Merrill Lynch survey of fund managers found.

Bloomberg said Wednesday that it is nearly halfway through the rollout of a new version of its Launchpad software that supplies advanced data sharing, personalized news and content suggestion features to users of its information services.

Jeff Peiffer was so frustrated that his bank didn't offer an app for his phone that he made one himself, put it online — and watched it become one of the top finance downloads for Android handsets.

France raised its pension retirement age by a mere two years, from 60 to 62, and people took great umbrage to that. Protests broke out in the street, and union leaders said they'll strike. One-third of the nation's TVG fast trains were expected to be canceled.

Proponents of the fiduciary standard for all financial advisors will be watching the House-Senate conference committee very closely Wednesday, when the group will begin to consider whether to include the requirement in the financial regulatory reform bill.

The Securities and Exchange Commission voted 5:0 Wednesday to require target-date funds to do a better job of explaining the purpose of their retirement date, how their asset-allocation glidepaths change over time, and, in a new twist, to include easy-to-understand visuals in ads.