Products July 2, 2010

S&P Unveils CDS Indexes

July 2, 2010 (PLANSPONSOR.com) –Standard & Poor's has launched a series of credit default swap sector indexes. 
Reported by

A news release said the S&P CDS Sector Indices seek to track the credit default swap market for a select number of corporate credits in distinct Global Industry Classification Standard (GICS) sectors and sub industries. 

The S&P CDS Sector Indices are designed to reflect the credit default swap market for a sector of corporate credits, increasing transparency for market participants. The Indices may be country specific or global in nature and will cover a distinct industry segment. They offer the independence of the S&P CDS Index Committee and third-party pricing, the news release said.  

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Each index is designed with a focus on liquidity with the goal of supporting investment products such as index funds, index portfolios, and index futures and options. Each series of the S&P CDS Sector Indices has a 5 1/4 year maturity as measured from its effective date.  

The S&P CDS U.S. Sector Indices are equal weighted, with a given number of reference entities and a fixed coupon. Index levels and average CDS spreads for each index are published daily. 

More information is at www.fixedincomeindices.standardandpoors.com. 

Compliance July 2, 2010

WI High Court Upholds Ban on Same-Sex Marriage

July 2, 2010 (PLANSPONSOR.com) - The Wisconsin Supreme Court has unanimously upheld a ban on same-sex marriage and civil unions.
Reported by

WKOW reports the seven justices decided that a 2006 constitutional amendment defining marriage in a statewide ballot was properly put to voters, and rejected the lawsuit that claimed the referendum violated rules by having two questions in one subject. 

The state does have a registry that gives same-sex couples dozens of the same benefits as married couples, including hospital visitation, medical leave and inheritance rights. The news report said gay rights advocates say this decision strictly deals with how amendments are presented to voters.  

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“As for the substance of what the amendment means, its effect on the domestic partner registry or rights for same sex couples, it has no meaning,” said Lester Pines representing gay advocacy group Fair Wisconsin, according to WKOW.  

Pines says it is uncertain if anyone will challenge domestic partner benefits in court after this decision.

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