Americas ETP News
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NSX Releases April 2011 ETF Data Reports
May 3, 2011--Highlights from the April 2011 reports include:
Assets in U.S. listed Exchange-Traded Funds (ETF) and Exchange-Traded Notes (ETN) continue to reach record levels, totaling approximately $1.14 trillion at April 2011 month-end, an increase of approximately 34% over April 2010 month-end when assets totaled almost $847 billion.
ETF/ETN net cash inflows for the month of April totaled approximately $22.4 billion.
Year-to-date 2011 net cash inflows reached a record $51.3 billion, an increase of 140% over the same time period in 2010 when net cash flows reached $21.3 billion.
ETF/ETN notional trading volume during April 2011 totaled almost $1.3 trillion, representing almost 28% of all U.S. equity trading volume.
At the end of April 2011, the number of listed products surpassed 1200 for the first time, totaling 1,216 compared to 998 listed products at the same time last year. Visit http://www.nsx.com/content/etf-assets-list for more info.
Source: National Stock Exchange
New IMF Report Warns of Overheating Risks in Latin America
May 3, 2011--Latin America continues to grow at a healthy pace led by strong expansion in domestic demand. But the region is experiencing an excessively stimulative environment that brings along the risk of overheating.
High commodity prices and easy external financial conditions are the main “tailwinds” propelling growth, in some instances at a pace faster than some economies are prepared for, says the International Monetary Fund’s new report Regional Economic Outlook Western Hemisphere: Watching Out for Overheating, presented today in Mexico City.
The region’s Gross Domestic Product (GDP) is estimated to have expanded by around 6 percent in 2010, and while it is projected to moderate to about 4.75 percent this year, this will require that governments withdraw any policy stimulus on a timely basis.
“Currently, we have a unique combination of factors,” said Nicolás Eyzaguirre, director of the IMF’s Western Hemisphere Department, during a presentation of the report hosted by Banco de México. “There is no record of another period in which interest rates were so low for so long in the advanced economies; demand from Asia has kept commodities prices at a high level; and emerging economies have better macroeconomic fundamentals than in the past, making them objectively more attractive to foreign capital.” On top of that, he pointed out, many countries have not yet rolled back stimulative policies put in place during the financial crisis to support demand, at times when restrain is needed.
view the Regional Economic Outlook: Western Hemisphere
Watching Out for Overheating report
Source: IMF
Alps files with the SEC
May 2, 2011--Alps has filed a post-effective amendment, registration statement with the SEC for the ALERIAN Plus MLP Infrastructure ETF and
the ALERIAN Natural Gas MLP ETF
view filing
Source: SEC.gov
ISE Reports Business Activity for April 2011
May 2, 2011-Dividend trades made up 4.6% of industry volume in April 2011.
ISE is third largest equity options exchange in April with market share of 19.2%, excluding dividend trades.
The International Securities Exchange (ISE) today reported average daily volume of 2.9 million contracts
in April 2011, a decrease of 11.5% compared to April 2010. Total options volume for the month was 58.3
million contracts.
ISE was the third-largest U.S. equity options exchange in April with market share of 19.2%*. Business highlights for the month of April include:
On April 11, 2011, ISE launched its new options trading system on Deutsche Börse Group’s Optimise™ trading architecture. The implementation of Optimise marks a critical milestone for the new system, which was developed by drawing on contributions from the expert technology teams at Deutsche Börse and ISE. With Optimise, ISE will significantly improve the latency profile of its trading system and offer enhanced functionality to member firms.
On April 13, 2011, ISE announced the unveiling of the U.S. Options Industry Room at Ronald McDonald House® New York. ISE took part in Ronald McDonald House New York’s “Adopt-a- Room” program by donating the profit it generated from organizing the 2010 Options Industry Conference. A room dedication ceremony was held on April 12, 2011, in honor of the donation that was made by ISE on behalf of the entire U.S. options industry.
read more
Source: International Securities Exchange (ISE)
Commodity Futures Trading Commission Votes to Establish a New Subcommittee of the Technology Advisory Committee (TAC)
New Subcommittee on Data Standardization is Seeking Nominations for Members
May 2, 2011--Commissioner Scott D. O’Malia, the chairman of the Technology Advisory Committee (TAC), announces that the Commission has voted to establish a Subcommittee on Data Standardization to develop recommendations regarding a standardized reference data depository representing the universe of legal and financial terms utilized in describing, defining, and valuing the various derivatives and other financial instruments which are presently and in the future may be traded on and off of regulated exchanges.
The creation of standardized reference points and data terms is anticipated to aid in the development and use of universal entity, product, and/or instrument identifiers and provide greater consistency in the collection, reporting, and management of individual transactions, underlying legal documents (including master agreements and credit support agreements), and risk exposures.
“The data and reporting mandates of the Dodd-Frank Act place the CFTC in the center of the complex intersection of data, finance and the law. There is a need and desire to go beyond legal entity identifiers and lay the foundation for universal data terms to describe transactions in an electronic format that are identifiable as financial instruments and recognizable as binding legal documents.
read more
Source: CFTC.gov
Fee Rate Advisory #1 for Fiscal Year 2012
May 2, 2011--The Securities and Exchange Commission today announced that, if a regular appropriation to the Commission for fiscal year 2012 is enacted on or before Oct. 1, 2011, the fees rates applicable to most securities transactions will decrease from $19.20 per million dollars to $15.10 per million dollars in fiscal year 2012. The new fee rates will go into effect on the later of Oct. 1, 2011 or 30 days after the appropriation is enacted. The assessment on security futures transactions will remain unchanged at $0.0042 for each round turn transaction.
The Commission determined these new rates in accordance with Section 31 of the Securities Exchange Act of 1934 (Exchange Act). Accordingly, the Commission consulted with both the Congressional Budget Office and the Office of Management and Budget regarding the annual adjustment. These adjustments do not affect the amount of funding available to the Commission. A copy of the Commission’s order issued April 29, including the calculation methodology, is available at: http://www.sec.gov/rules/other/2011/34-64373.pdf
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Source: SEC.gov
Dow Jones Indexes’ The Global Dow to Become Underlying Index for State Street Global Advisors’ SPDR Global Dow ETF
Stocks of 150 of the World’s Leading Companies Comprise The Global Dow.
May 2, 2011--Dow Jones Indexes, a leading global index provider, today announced The Global Dow, which measures the stock performance of 150 of the world’s leading companies, will become the underlying index for State Street Global Advisors’ SPDR® Global Dow ETF, effective May 2, 2011.
The equally weighted 150 stocks in The Global Dow are selected by an Averages Committee comprised of the Managing Editor of The Wall Street Journal, the head of Dow Jones Indexes research and the head of CME Group research – the same selection process used by the Dow Jones Industrial Average. (In 2010, CME Group acquired 90% of Dow Jones Indexes from Dow Jones & Co., a division of News Corp., and publisher of The Wall Street Journal.)
“The Global Dow tracks leading companies from around the world,” said Michael A. Petronella, President, Dow Jones Indexes. “By covering both the developed and emerging economies of the world, The Global Dow truly reflects, as closely as possible, the global stock market as it exists today.”
James Ross, Senior Managing Director and Global Head of SPDR Exchange Traded Funds at State Street Global Advisors, said: “We’re pleased to provide investors with access to The Global Dow, an innovative benchmark often viewed as a global extension of the Dow Jones Industrial Average.”
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Source: Dow Jones Indexes
Rydex sees ETP assets jump by a third in four months
May 2, 2011--ETF provider Rydex|SGI has seen assets across the firm's exchange traded product platform reach the USD8.5 billion mark
The total, which includes the RydexShares and CurrencyShares products, represents a 33% jump in assets under management, from USD6.2 billion to USD8.5 billion, since 1 November of last year. Rydex|SGI currently ranks ninth in AUM among all ETF providers, according to Morningstar.
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Source: ETF Express
Chi-X Canada Surpasses 10 Percent Market Share Milestone
May 2, 2011 – Chi-X Canada ATS Limited, a wholly-owned subsidiary of alternative trading venue operator Chi-X Global Inc., today announced it set a new firm trading record on Wednesday, April 27, trading over 10 percent (71,731,700 shares) of total TSX-listed share volume.
In addition, Chi-X Canada accounted for 19.36% of the market’s overall trades, 11.14% of the market’s overall value traded, and, through its smart router, handled 13.16% of the market’s overall volume.
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Source: Chi-X Canada
BM&FBOVESPA launches four new indices
Get to know Broad Brazil Index, Dividend Index, Basic Material Index and Utilities Index
May 2, 2011--As of Monday, BM&FBOVESPA starts the calculation and publication in real time of four new indices: the BM&FBOVESPA Brazil Broad-Based Index (IBrA), BM&FBOVESPA Dividend Index (IDIV), BM&FBOVESPA Basic Materials Index (IMAT) and the BM&FBOVESPA Public Utilities Index (UTIL).
The new indices will help diversify investment strategies and make it possible to create Exchange-Trade Funds (ETFs).
The Broad Brazil Index debuts with 153 stocks and allows a broad view of the Brazilian stock market. It covers all of the stocks for companies listed on BM&FBOVESPA that meet the minimum liquidity criteria, such as: inclusion in a group of stocks whose combined negotiability indices represent 99% of the total value of all individual indices, and whose trading session participation is equal to or greater than 95% in the previous 12 months to calculation of the index.
The Dividend Index measures the performance of shares in companies that are outstanding in terms of remuneration to investors in dividends and interest on own capital (dividend yields) in the 24 months previous to selection for the portfolio.
The Basic Material Index is composed of shares most representative of the packaging, wood and paper, miscellaneous materials, mining, chemicals, steel and metallurgy sectors.
The Utilities Index measures the performance of shares in companies that most represent the public utilities sector, which includes electricity, water and sanitation, and gas.
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Source: BM&FBOVESPA
