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CFTC Releases Rule Enforcement Review of the Chicago Mercantile Exchange and the Chicago Board of Trade

September 15, 2010-- The Commodity Futures Trading Commission (Commission) has notified the Chicago Mercantile Exchange and Chicago Board of Trade (collectively referred to as the Exchanges) of the results of a rule enforcement review completed by the Commission’s Division of Market Oversight (Division).

The review covered the period from January 1, 2008, to January 2, 2009 (target period). The Division assessed the Exchanges’ compliance with core principles relating to their audit trail, trade practice surveillance and disciplinary programs. Although CME and CBOT merged in July 2007, each exchange maintains independent status as a designated contract market. However, CME’s Market Regulation Department provides regulatory services for CME and CBOT (as well as NYMEX and COMEX). In addition, the Exchanges have substantially harmonized their trading rules and share a trading floor, and both use the Globex platform for electronic trading.

The Division found that the Exchanges maintain adequate audit trail, trade practice and disciplinary programs. However, the Division had some concerns regarding compliance staff levels. By the end of the target period, the Exchanges’ compliance staff was 18% smaller than the Exchanges’ combined pre-merger compliance staffs. Although additional compliance staff has been hired since the end of the target period, the Division recommended that the Exchanges review the compliance staff size needed to ensure that the regulatory services provided to all CME Group exchanges by the Market Regulation Department remain effective in enforcing compliance with the Exchanges’ rules and Commission regulations.

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Source: CFTC.gov


OOK, Inc. Announces the Liquidation of the Oklahoma Exchange-Traded Fund

September 14, 2010--)--OOK, Inc. (the “Company”), a registered investment company, today announced that its sole remaining director and Chief Executive Officer has determined to liquidate the Company’s underlying investment portfolio (the “Fund”) effective September 30, 2010 and subsequently dissolve the Company. The Fund offers shares known as OOK, the Oklahoma Exchange-Traded Fund (“Shares”) that are listed on NYSE Arca, Inc. (“NYSE Arca”).

The decision was made after consultation with Geary Advisors, LLC (“Advisor”), investment advisor of the Fund. Consideration was given to current market conditions, the inability of the Fund to attract significant market interest since its inception and the continued expenses of operating the Fund, and therefore determined that is was advisable and in the best interest of the Fund and its shareholders to liquidate the Fund. Since Inception, the following Directors, stating no unfavorable reason, resigned: John Shelley (9-30-09), Mike Braun (3-9-10) and Boe Parrish (6-18-10). Geary Advisors, LLC has agreed to pay all fees and expenses of the Fund. Any and all unpaid liabilities of the Advisor will be paid by the parent company, Geary Companies, Inc.

September 24, 2010, will be the last day of trading for the Shares on NYSE Arca, and the last day on which creation unit aggregations of the Shares may be purchased or redeemed. The Fund and its ticker symbol is:

OOK Oklahoma Exchange-Traded Fund (OOK)

NYSE Arca will halt trading in the Shares of the Fund before the open of trading on September 27, 2010 and the Fund will be closed to new investment on that date. Shareholders may sell their Shares on or prior to September 24, 2010. From September 27, 2010 through September 30, 2010, shareholders may be able to sell their Shares to certain broker-dealers who may determine to continue to purchase such Shares, but there can be no assurance that any broker-dealer will be willing to purchase such Shares or that there will be a market for the Shares of the Fund. All sales of Shares to a broker-dealer, whether made before or after September 24, 2010, will be subject to typical transaction fees and charges. All shareholders remaining on September 30, 2010 will receive cash equal to the amount of the net asset value of their Shares as of September 30, 2010 including dividends into the cash portion of their brokerage accounts. Fund shareholders remaining September 30, 2010 will not incur transaction fees to sell their Shares. All other costs of closing the Fund will be borne by the Advisor.

Effective immediately, the Fund will be in the process of liquidating its portfolio. As a result, the fund will no longer pursue its investment objective of seeking to track the performance of its underlying index.

The Fund acknowledges non-compliance with the NYSE Arca’s audit committee requirements.

For additional information about the liquidation, shareholders of the Fund may call the Advisor at 1-405-235-5757.

Source: Geary Advisors, LLC


Horizons BetaPro Launches Canada's Lowest Cost ETF

September 14, 2010--BetaPro Management Inc. ("BetaPro"), the manager of the Horizons BetaPro Exchange Traded Funds (the "HBP ETFs"), is pleased to announce the launch of the Horizons BetaPro S&P/TSX 60(TM) Index ETF (the "BetaPro S&P/TSX 60 ETF" or "HXT"). The BetaPro S&P/TSX 60 ETF will begin trading on the Toronto Stock Exchange on September 15, 2010, under the symbol HXT.

Traditionally, each ETF provider in Canada has had an exclusive licensing arrangement with index providers. When choosing to invest in an index-tracking ETF, most investors selected the ETF based on the specific index, with little thought to the provider since that provider normally had a monopoly on that index.

HXT represents a new era of competition in the Canadian ETF industry, offering a more efficient and lower cost way to get exposure to the S&P/TSX 60(TM) Index, which is the most widely recognized Canadian equity index. The BetaPro S&P/TSX 60 ETF seeks to replicate, to the extent possible, the performance of the S&P/TSX 60(TM) Index (Total Return), net of expenses.

The S&P/TSX 60(TM) Index is comprised of the 60 largest stocks in Canada and, according to Standard & Poors(R), currently represents nearly 75% of the market capitalization of Canadian stocks.

"In our opinion, the S&P/TSX 60(TM) Index is the single most important Canadian equity benchmark," said Howard Atkinson, President of BetaPro. "HXT represents another milestone for ETF investors and ushers in a new era of competition for the Canadian ETF industry, which we believe will lead to lower costs and greater selection for investors."

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Source: BetaPro Management Inc.


TXF Funds, Inc. Announces Liquidation of the Texas Large Companies Exchange-Traded Fund

September 13, 2010-)--TXF Funds, Inc. (the “Company”), a registered investment company, today announced that its sole remaining director and Chief Executive Officer has determined to liquidate the Company’s underlying investment portfolio (the “Fund”) effective September 30, 2010 and subsequently dissolve the Company. The Fund offers shares known as TXF, the Texas Large Companies Exchange-Traded Fund (“Shares”) that are listed on NYSE Arca, Inc. (“NYSE Arca”).

The decision was made after consultation with Geary Advisors, LLC (“Advisor”), the investment advisor of the Fund. Consideration was given to current market conditions, the inability of the Fund to attract significant market interest since its inception and the continued expenses of operating the Fund and therefore determined that it was advisable and in the best interest of the Fund and its shareholders to liquidate the Fund. Since Inception, the following Directors, stating no unfavorable reason, resigned: John Shelley (9-30-09), Mike Braun (3-9-10) and Boe Parrish (6-18-10). Geary Advisors, LLC has agreed to pay all fees and expenses of the Fund. Any and all unpaid liabilities of the Advisor will be paid by the parent company, Geary Companies, Inc.

September 24, 2010, will be the last day of trading for the Shares on NYSE Arca, and the last day on which creation unit aggregations of the Shares may be purchased or redeemed. The Fund and its ticker symbol is:

TXF Large Companies Exchange-Traded Fund (TXF)

NYSE Arca will halt trading in the Shares of the Fund before the open of trading on September 27, 2010 and the Fund will be closed to new investment on that date. Shareholders may sell their Shares on or prior to September 24, 2010. From September 27, 2010 through September 30, 2010, shareholders may be able to sell their Shares to certain broker-dealers who may determine to continue to purchase such Shares, but there can be no assurance that any broker-dealer will be willing to purchase such Shares or that there will be a market for the Shares of the Fund. All sales of Shares to a broker-dealer, whether made before or after September 24, 2010, will be subject to typical transaction fees and charges. All shareholders remaining on September 30, 2010 will receive cash equal to the amount of the net asset value of their Shares as of September 30, 2010 including dividends into the cash portion of their brokerage accounts. Fund shareholders remaining September 30, 2010 will not incur transaction fees to sell their Shares. All other costs of closing the Fund will be borne by the Advisor.

Effective immediately, the Fund will be in the process of liquidating its portfolio. As a result, the fund will no longer pursue its investment objective of seeking to track the performance of its underlying index.

The Fund acknowledges non-compliance with the NYSE Arca’s audit committee requirements.

For additional information about the liquidation, shareholders of the Fund may call the Advisor at 1-405-235-5757.

Source: Geary Advisors, LLC


Global X Funds Reaches $500 Million AUM and Ranked Fastest-Growing ETF

September 14, 2010-- With 14 exchange traded funds (ETFs) brought to market over the last twenty months, Global X Funds announced today it has reached the $500 million threshold in assets under management. This milestone supports a recent BlackRock report that lists Global X as the fastest growing ETF provider in the US with an increase of 318% year-to-date.

The largest fund in the family is the China Consumer ETF (CHIQ), which in 9 months has grown to over $100 million in assets. The top performing fund is the Global X/Interbolsa FTSE Colombia 20 ETF (GXG), whose cumulative performance has exceeded 170% since inception in February 2009. It has been named a Wall Street Journal Category King for August 2010 and also topped the IBD ETF list in September 2010.

"Our fast pace of growth speaks directly to the relevance these products have had with investors,” said Bruno del Ama, CEO of Global X Funds.

Source: Global X


CME Group Issued the Following Statement Regarding Errant Orders

September 14, 2010--CME Group issued the following statement:
During a six minute period beginning at 2:38 pm (CDT) on Monday, September 13, test orders that should have been posted into a quality assurance testing environment were inadvertently placed into active energy and metals markets on CME Globex. As soon as we became aware of the issue, we began working with affected customers and implemented other corrective steps.

We have also kept the Commodity Futures Trading Commission apprised of developments related to this event. CME Group will address these transactions in accordance with its Rule 587.

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Source: CME Group


Dow Jones Indexes Launches Emerging Markets Consumer Titans 30 Index

To Serve As a Basis for an Exchange-Traded Fund
September 14, 2010--Dow Jones Indexes, a leading global index provider, today announced the launch of the Dow Jones Emerging Markets Consumer Titans 30 Index. The index measures the performance of 30 leading consumer goods and consumer service companies in emerging markets.

The Dow Jones Emerging Markets Consumer Titans 30 Index is licensed to Emerging Global Advisors, LLC and will serve as a basis for an exchange-traded fund (ETF), to be listed on NYSE Arca. The ETF, called the EGShares Emerging Markets Consumer ETF (NYSE ticker: ECON) is the first emerging market ETF focused on consumer trends in the developing world.

“Consumer spending is a leading economic indicator,” said Michael A. Petronella, president, Dow Jones Indexes. “The Dow Jones Emerging Markets Consumer Titans 30 Index tracks the largest and most profitable consumer goods and consumer services companies in developing countries today. This allows investors to examine consumer spending in developing countries during the global economic recovery,” he said.

“As the developed world transitions from a society of spenders to a more prudent one of increased savings, the emerging world is slowly moving in the other direction,” said Richard C. Kang, chief investment officer & director of research, Emerging Global Advisors, LLC. “Although individually the emerging market consumer may have a smaller amount to spend, because of the size and youth of this demographic they are able to compensate for the massive structural changes happening in the developed world. This ETF is the first emerging market fund paying attention to this trend,” he said.

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Source: Dow Jones Indexes


Morningstar Reports U.S. Mutual Fund and ETF Asset Flows Through August 2010

September 14, 2010--Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund asset flows through August 2010. Flows into long-term mutual funds increased by more than 11 percent in August to $16.8 billion, with fixed-income funds again receiving the majority of these assets. Outflows from domestic-equity ETFs contributed to net outflows of $1.3 billion from U.S. ETFs in August, ending a six-month streak of consecutive monthly inflows.

Additional highlights from Morningstar's report on mutual fund flows:

Taxable-bond funds accumulated assets of $168.5 billion year to date, and much of these inflows are likely attributable to low yields on money market funds. Money market funds have seen outflows in 16 of the 19 months since February 2009, for a total loss of nearly $1.0 trillion, reducing money market total net assets and market share to $2.7 trillion and 27.6%, respectively.

Outflows persisted for U.S. stock funds, with redemptions of $14.3 billion in August. Funds in the large growth and large value Morningstar categories saw the greatest outflows, surrendering a combined $8.6 billion in August alone and $38.3 billion for the year to date.

Although domestic-equity funds have seen outflows of $42.2 billion in 2010 and $25.7 billion in 2009, U.S. stock funds still have total net assets of more than $2.9 trillion. The $67.9 billion in outflows since the end of 2008 are not even 2.4 percent of that total, and passively managed domestic-equity funds have actually seen inflows in 34 of the past 36 months.

PIMCO's bond lineup helped it gather $7.7 billion in August to top all fund families, followed by Vanguard, although the firm's inflows dropped to $4.0 billion after taking in $4.9 billion in July. American Funds and Fidelity, which specialize in actively managed funds, lost another $5.5 billion and $1.6 billion, respectively, to outflows in August.

Additional highlights from Morningstar's report on ETF flows:

International-stock ETFs had inflows of $4.4 billion, the highest of all asset classes for the second straight month, thanks to strong demand for emerging-markets ETFs. Over the trailing three-year period, emerging-markets ETFs have accounted for more than 61 percent of flows into the asset class.

SPDR S&P 500 SPY, the largest ETF in terms of net assets, saw outflows of $6.6 billion in August, as investors moved their assets into higher-yielding equity strategies, including defensive and dividend-paying sectors and preferred stock ETFs.

iShares iBoxx $ High Yield Corporate Bond HYG and SPDR Barclays Capital High Yield Bond JNK, with inflows of $464 million and $332 million, respectively, led flows into junk bond ETFs, as investors took on more risk in search of more attractive yields in August. Short-term bond ETFs remained popular despite their unimpressive yields.

Precious-metals ETFs, bolstered by inflows of $827 million into SPDR Gold Shares GLD, were the most popular ETFs in the commodities asset class in August.

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Source: Morningstar


CME mistakenly places test orders for trading

September 14, 2010--CME Group, the world’s biggest futures exchange, mistakenly placed orders on active energy and metals markets as it was undertaking a quality assurance procedure.

CME declined to say which contracts were placed into the live market or how many orders were sent or executed, but a person familiar with the situation numbered them in the tens of thousands.

The mistaken order flow began at 3:38pm Eastern time on Monday and lasted six minutes. CME said the erroneous orders had no impact on prices.

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Source: FT.com


CFTC, SEC Announce Panelists, Room Update and Webcast Address for September 15 Public Roundtable to Discuss Swap Execution Facilities and Security-Based Swap Execution Facilities

September 14, 2010-The staffs of the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) today announced the panelists, a room update and the webcast address for their September 15, 2010, public roundtable to discuss Swap Execution Facilities (“SEFs”) and Security-Based Swap Execution Facilities (“SB SEFs”).

Room Update and Webcast Address

The roundtable will be held in the Multi-Purpose Room (Room L-006) at the SEC Headquarters located at 100 F Street NE, Washington, DC. Members of the public should disregard the room noted in CFTC press release #5889-10 and SEC press release #2010-166 (see related documents). The discussions will be open to the public with seating on a first-come, first-served basis.

Members of the public also may listen by telephone and should be prepared to provide their first name, last name, and affiliation. The roundtable’s agenda and call-in information may be found in CFTC press release #5889-10 and SEC press release #2010-166 (see related documents).

In addition to listening by telephone, members of the public may access a webcast of the roundtable at: www.sec.gov.

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Source: CFTC.gov


SEC Filings


July 03, 2025 ARK ETF Trust files with the SEC-4 ARK Q Defined Innovation ETFs
July 03, 2025 Tidal Trust II files with the SEC-YieldMax(R) SCHD DoubleDiv(TM) ETF
July 03, 2025 iShares Trust files with the SEC-iShares Large Cap 10% Target Buffer Mar ETF
July 03, 2025 iShares Trust files with the SEC-iShares Large Cap 10% Target Buffer Jun ETF
July 03, 2025 iShares Trust files with the SEC-iShares Large Cap 10% Target Buffer Sep ETF

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Europe ETF News


June 16, 2025 ESMA's activities in 2024 focused on strengthening the EU capital markets and putting citizens and businesses at the heart of it
June 12, 2025 Janus Henderson launches active fixed income ETF
June 12, 2025 ifo Institute Raises Growth Forecast for Germany
June 10, 2025 ESMA publishes latest edition of its newsletter
June 06, 2025 Active ETF fever grips selectors-is the end in sight for mutual funds?

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Asia ETF News


June 25, 2025 QFIIs Gain Access to Onshore ETF Options As A-share Market Opening Deepens
June 18, 2025 Mirae Asset Global Investments Launches MIRAE ASSET TIGER CHINA GLOBAL LEADERS TOP3 PLUS ETF, Tracking Solactive-KEDI China Global Leaders TOP3Plus Index
June 13, 2025 Post-Adjustment ChiNext Index Attracts Global Assets with Low Valuation and High Growth Potential
June 13, 2025 Unlocking Consumption to Sustain Growth in China -World Bank Economic Update
June 13, 2025 US trading firm Virtu weighs foray into China market-making business

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Global ETP News


July 03, 2025 Flow Traders-Tokenization in Capital Markets: A Market Maker's Perspective
June 14, 2025 Global Economic Prospects-Global Economy Faces Trade-Related Headwinds
June 12, 2025 Disclosing Public Debt Boosts Investor Confidence, Cuts Borrowing Costs 
June 10, 2025 Global Economy Set for Weakest Run Since 2008 Outside of Recessions

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Middle East ETP News


June 19, 2025 GCC: Growth on the Rise, but Smart Spending Will Shape a Thriving Future
June 16, 2025 Saudi Exchange leads market losses across the GCC

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Africa ETF News


June 24, 2025 East Africa's regional 20 share index
June 16, 2025 African Credit Rating Agency to Launch September 2025
May 27, 2025 African Economic Outlook 2025-Africa's short-term outlook resilient despite global economic and political headwinds

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ESG and Of Interest News


June 18, 2025 Global Energy Transition Gains Ground, but Security and Capital Challenges Persist
June 17, 2025 Pacific Economic Update: Slowing Growth Highlights Need for More Inclusive Workforce
June 10, 2025 Global Carbon Pricing Mobilizes Over $100 Billion for Public Budgets
June 07, 2025 Accelerating Blue Finance: Instruments, Case Studies, and Pathways to Scale
June 03, 2025 The Longevity Dividend

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White Papers


May 30, 2025 IMF Working Paper-Interest Rate Sensitivity Scenarios to Guide Monetary Policy

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