Merlyn.AI launches ETF that shifts between bull, bear strategies
Merlyn.AI has brought to NYSE Arca an exchange-traded fund that adjusts asset allocation based on market conditions. The Merlyn.AI Bull-Rider Bear-Fighter ETF is linked to the Bull-Rider Bear-Fighter Index, which uses artificial intelligence to determine whether to implement a bull or bear strategy. ETF (18 Oct.)
UK fraud office ends inquiry into Libor manipulation
The UK Serious Fraud Office has closed an investigation into Libor manipulation, saying no more charges will be brought, after examining the matter since the financial crisis. The office says an investigation of manipulation of the Euro Interbank Offered Rate continues. Reuters (18 Oct.)
Industry eyes practical approach to EU foreign-clearinghouse oversight
The EU has approved a law asserting authority over US and UK derivatives clearinghouses, and market participants hope it can be pragmatically implemented and see positive signs in dialogue between US and EU regulators. Commodity Futures Trading Commission Chairman Heath Tarbert "seems to be much less confrontational; there seems to be an element of dialogue that's going on, and that's very helpful for the industry," expert Bruce Savage says. MLex (subscription required) (18 Oct.)
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