Special Program Root Tag

The Tokyo Stock Exchange said it will migrate futures trading to a new electronic system that eliminated the “open outcry” system of yelling for attention on an options trading floor.

BOSTON—More than $1.2 trillion has been redeemed from equity mutual funds since September 2008, and retail outflows year-to-date through September have surpassed $89 billion—on pace to be greater than all of the money that fled mutual funds in 2008, said Ron O’Hanley, president of asset management and corporate services at Fidelity Investments.

BOSTON—“Emerging markets are just a niche asset class” persistently remains as one of the five biggest myths about investing in emerging markets, said John Flint, chief executive officer of HSBC Global Asset Management.

BOSTON—Morgan Stanley Smith Barney has three words for asset managers specializing in registered alternative investment products: Bring it on.

NEW YORK-- Stifel Financial Corp. Chairman, President and Chief Executive Ronald Kruszewski urged pessimistic members of the financial services industry to go back and read a 1979 BusinessWeek article titled “Death of Equities."

WASHINGTON -- Education Secretary Arne Duncan on Tuesday urged a special advisory council to dig deep as it crafts recommendations for improving Americans' financial literacy though education and training programs, arguing that personal finance should be integrated early into the curriculum as a core subject.

The proliferation of new regulations emanating from the Dodd-Frank Act, Basel III and Solvency II are collectively inducing an outpouring of technology spending from companies in the financial service sector, a new report finds.

BOSTON—“Investors are running scared, from fear to fear,” said Brad Durham, managing director of EPFR, a global fund tracking firm, addressing Fund Forum USA’s Global Fund Distribution Summit here Tuesday.

Nasdaq OMX Group and a unit of Canada’s TMX Group said they are developing a family of capital markets indices based on U.S. Treasury instruments that will be rebalanced daily, instead of monthly.

BOSTON—“The greatest stimulus package in the world is certainty. For the past two years we have not had certainty,” Bob Reynolds, president and chief executive of Putnam Investments told the Fund Forum USA’s Global Fund Distribution Summit here Tuesday.

BOSTON--Getting on broker-dealer platforms is no longer easy for asset management firms. But with the right relationships, best products and unique offerings, it is possible. This is what speakers at Fund Forum USA's Global Fund Distribution Summit said here Monday.

BOSTON—The largest, and most successful, asset managers are structured as partnerships, Bob Pozen, chairman emeritus of MFS Investment Management, told Fund Forum USA’s Global Fund Distribution Summit here Monday.

The owners of Standard & Poor’s Indices and Dow Jones Indices will create a joint venture in index services.

NEW YORK--In her first industry-facing event since departing Bank of America Merrill Lynch, Sallie Krawcheck took to the stage of the annual SIFMA conference to discuss the state of wealth management and much more.

NEW YORK--Citigroup Chief Executive Vikram Pandit said MF Global’s woes point to a need for an expanded focus on the shadow banking system and broader transparency for derivatives.

NEW YORK--Securities and Exchange Commission Chairman Mary Schapiro said Monday that the regulator had boiled down its plan to propose fundamental reform to the operation of the nation’s money market funds.

Commodity Futures Trading Commission chairman Gary Gensler said Monday he recused himself from the regulator’s probe of the failure of derivatives player MF Global, because “I didn't want my participation to in any way be a distraction.''

While 88% of mutual fund companies that Corporate Insight tracks offer materials on market volatility, only 40% organize this content into centralized outlets. This, Corporate Insight said, is "a key factor in determining firms' effectiveness in communicating with clients and prospects during ongoing market instability."

In today's complex distribution environment, mutual funds have fee arrangements with hundreds of third-parties that vary by product, platform and services provided. Complicating matters further is the continued adoption of omnibus accounts at brokerages, obscuring the underlying client and sales data.

Eileen Rominger, director of the Securities and Exchange Commission's division of investment management, testified last month before the U.S. Senate that the commission is reviewing whether the widespread use of exchange-traded funds is contributing to market volatility.