Wall Street regulators make budget pitches to Congress
WASHINGTON, June 27 Wall Street's top two U.S. regulators will urge Congress on Tuesday to approve budgets for fiscal 2018 that are at or above their current funding levels.
May 2 The Securities and Exchange Commission on Tuesday approved a request to list and trade quadruple-leveraged exchange-traded funds, marking a first for the growing market for such funds in the United States.
The request to list ForceShares Daily 4X US Market Futures Long Fund and ForceShares Daily 4X US Market Futures Short Fund was filed by Intercontinental Exchange Inc's NYSE Arca exchange.
One of the funds is designed to deliver 400 percent of the daily performance of S&P 500 stock index futures, while another fund will aim to deliver four times the inverse of that benchmark. (Reporting by Trevor Hunnicutt in New York; Editing by Leslie Adler)
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