Americas ETP News
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Opening Statement: First Open Meeting to Consider Final Rules Pursuant to the Dodd-Frank Act
Commissioner Jill E. Sommers
July 7, 2011--Good Morning. Thank you Mr. Chairman and thank you to the five teams who have final rules before us today. Over the past year you have all been under an incredible amount of pressure to complete drafts by certain deadlines.
We are all aware that you have worked late nights and weekends to meet those deadlines and we are very grateful to all of you for your dedication to your work and to this agency. Obviously we could not do this without you.
We are starting the process of finalizing rules today with a group of rules that do not relate to the structural and broader issues of trading and clearing swap transactions. Nonetheless, we are beginning without a plan. There have been no Commission decisions regarding the internal process or the implementation schedule for this very important and complicated task we have in front of us to finalize the rules and regulations required by the Dodd Frank Act. We have been discussing the appropriate sequencing of final rules as well as an implementation plan for many months and at this point I am still hopeful that the Commission will move forward to adopt a reasonable phased-in approach supported by market participants.
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Source: CFTC.gov
Morgan Stanley-US ETF Weekly Update
July 6, 2011--Weekly Flows: $2.1 Billion Net Inflows
ETF Assets at $1.1 Trillion, Up 10% YTD
No ETF Launches or News
US-Listed ETFs: Estimated Flows by Market Segment
ETFs exhibited net inflows of $2.1 billion last week, rebounding from the prior week’s outflows
EM Equity and Fixed Income ETFs posted the largest net inflows last week (combined $3.0 bln net inflows)
ETF assets stand at $1.1 trillion, up 10% YTD; we estimate from both net new money and market appreciation
ETF assets up 4% last week amid equity market gains
13-week flows remained mostly positive among asset classes
$28.4 billion net inflows into ETFs over past 13 weeks (Fixed Income up $9.9 bln; Commodity down $3.3 bln)
We estimate ETFs have generated net inflows 16 out of 26 weeks YTD; YTD net inflows of $56.7 bln
US-Listed ETFs: Estimated Largest Flows by Individual ETF
For the second consecutive week, Vanguard MSCI EM ETF (VWO) generated the most net inflows
The top and bottom net in/outflows were dominated by US equity ETFs
Over the past 13 weeks, VWO has put up the most net inflows ($3.5 bln) while the iShares Silver Trust (SLV)
has posted the largest net outflows ($2.1 bln)
request report
Source: Morgan Stanley
BM&FBOVESPA: Individual Investors’ Share Of ETFs Traded On Exchange In June Reaches 14.1%
Institutional Investors Continue To Lead Participation
June 6, 2011--Individual investors’ share in the volume of ETFs traded on the Exchange in June reached 14.1%. Institutional investors continued to lead in terms of volume, at 47.3%, followed by foreign investors (18.4%), financial institutions (17.0%) and public and private companies (3.1%).
ETFs are a simple investment diversification alternative for equities. In a single operation the investor can buy a stock portfolio without having to manage the component shares individually.
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Source: BM&FBOVESPA
ELX Announces Strong Second Quarter - Sets Multiple Volume Records - Celebrates Second-Year Anniversary
July 6, 2011--ELX Futures, L.P. (ELX), a leading electronic futures exchange, announced today strong second-quarter results and multiple volume records in its U.S. Treasuries and Eurodollar futures contracts.
ELX traded 5M contracts in the second quarter and celebrates its second-year anniversary as an electronics futures exchange on July 10.
Highlights:
During the second quarter, ELX set single-day volume records in total exchange volume (148K on May 6, 2011), combined US Treasury futures (120K on May 6, 2011), the 5-year note (44K on May 6, 2011), and the 30-year bond (28K on June 9, 2011).
The 30-year bond and the 5-year note established quarterly average daily volume (ADV) records of 20.4K and 15.3K respectively
The 30-year bond also set a quarterly market share record at 4%.
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Source: ELX
Federal Reserve And FTC Issue Final Rules To Implement The Credit Score Disclosure Requirements Of The Dodd-Frank Act
July 6, 2011--The Federal Reserve Board (Board) and the Federal Trade Commission (FTC) on Wednesday issued final rules to implement the credit score disclosure requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If a credit score is used in setting material terms of credit or in taking adverse action, the statute requires creditors to disclose credit scores and related information to consumers in notices under the Fair Credit Reporting Act (FCRA).
The final rules amend Regulation V (Fair Credit Reporting) to revise the content requirements for risk-based pricing notices, and to add related model forms that reflect the new credit score disclosure requirements. The Board is issuing these final rules jointly with the FTC.
The rules under Regulations V and B are effective 30 days after the date of publication in the Federal Register, which is expected soon.
view the Fair Credit Reporting Risk-Based Pricing Regulations
ISE Announces the Launch of the First Trust ISE Cloud Computing Index Fund
July 6, 2011--The International Securities Exchange (ISE) today announced that First Trust Advisors L.P. has launched the First Trust ISE Cloud Computing Index Fund (Ticker: SKYY), the first ETF that tracks companies actively involved in the emerging cloud computing industry. The First Trust ISE Cloud Computing Index Fund is based on the ISE Cloud Computing™ Index (CPQ), a new benchmark for this growth sector that includes companies that are direct service providers for the “cloud,” firms that provide goods and services in support of the cloud computing space, and technology conglomerates whose business model uses or supports cloud computing technology. SKYY began trading today on The NASDAQ Stock Market®.
“The ISE Cloud Computing Index reflects the evolution of technology infrastructure and provides new and dynamic opportunities for investors,” said Kris Monaco, Head of New Product Development at ISE. “We are very pleased to partner again with First Trust to launch this unique exchange-traded fund focused on this rapidly expanding industry.”
“Cloud computing is projected to be one of the fastest growing IT markets this year, according to IDC Research,” said Ryan Issakainen, Vice President, ETF Strategist. “As businesses and consumers continue to migrate to a cloud environment, we believe there are significant growth opportunities for the companies involved in all aspects of cloud computing. The ETF provides a way to gain diversified exposure to those companies. Forrester Research is projecting total public cloud revenues to go up 27% annually to reach nearly $160 billion by 2020, up from $15 billion in 2010.”
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Source: International Securities Exchange (ISE)
BNP Paribas files with the SEC
July 6, 2011--BNP Paribas has filed a Pre-effective amendment No.1 to
Form S-1 Registration Statement with the SEC for the BNP Paribas S&P Dynamic Roll Global Commodities Fund.
view filing
Source: SEC.gov
Van Eck files with the SEC
July 6, 2011--Van Eck has filed a post-effective amendment, registration statement with the SEC for the Market Vectors China Private Company ETF.
view filing
Source: SEC.gov
BNY Mellon ADR Index Monthly Performance Review is Now Available
July 6, 2011--The BNY Mellon ADR Index Monthly Performance Review is now available.
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Source: BNY Mellon
NSX Releases June 2011 ETF Data Reports
Year-to-Date Net Cash Inflows Post Record Levels
July 5, 2011--Highlights from the June 2011 reports include:
Assets in U.S. listed Exchange-Traded Funds (ETF) and Exchange-Traded Notes (ETN) totaled approximately $1.098 trillion at June 2011 month-end, an increase of over 39% in comparison to June 2010 month-end when assets totaled almost $788 billion.
ETFs/ETNs posted net cash inflows of approximately $8.3 billion for the month of June.
Year-to-date 2011 net cash inflows posted a record of $58.6 billion, an increase of approximately 47% over the same time period in 2010 when net cash inflows reached $39.9 billion.
ETF/ETN notional trading volume during June 2011 totaled approximately $1.7 trillion, representing almost 31% of all U.S. equity trading volume.
At the end of June 2011, the number of listed products totaled 1288 compared to 1009 listed products at the same time last year.
visit http://www.nsx.com/content/etf-assets-list to view report
Source: NSX
