Americas ETP News
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S&P Index Manager Charged With $900,000 Insider-Trading Scheme
September 21, 2020--He's accused of trading ahead of firms being added to index
SEC complaint also names Queens sushi restaurant manager
An index manager of S&P Global Inc. was charged on Tuesday with being part of an insider-trading scheme that netted more than $900,000 in illegal profits by trading hours ahead of public announcements that companies would be added or removed from a popular stock market index.
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Source: bloomberg.com
Global X ETFs Adds to Covered Call Suite with Funds Designed to Balance Income and Growth
September 21, 2020--Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced the launch of the Global X Nasdaq 100 Covered Call & Growth ETF (QYLG) and the Global X S&P 500 Covered Call & Growth ETF (XYLG).
Investors face a historically low-yielding market amidst the backdrop of rock-bottom interest rates and tight credit spreads.
At the same time, equity markets have offered investors robust growth since their March 2020 lows and continue to test new all-time highs. QYLG and XYLG are designed to balance upside participation in major US equity indexes with generating additional income potential through covered call writing.
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Source: Global X
Hundreds of US companies fight new rules on hedge fund disclosure
September 21, 2020--Hundreds of US-listed companies, including Coca-Cola, Procter & Gamble and Ford, have come out against a proposal from the securities regulator that would shield the vast majority of hedge funds from disclosing their stock market holdings.
A total of 381 companies on Monday signed a letter, organised by the New York Stock Exchange, saying the Securities and Exchange Commission proposal would deal a "debilitating blow" to investor relations.
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Source: technocodex.com
Leveraged ETP popularity brings gambling risk, experts warn
September 20, 2020--A surge of interest in leveraged and inverse exchange traded products could be luring inexperienced investors into gambling with all its attendant risks, experts warn.
Globally, leveraged and inverse ETPs saw net inflows of $20.6bn in the seven months to the end of July, according to data from ETFGI, a consultancy, compared to net outflows of $3.4bn in the same period last year and $4.1bn during the whole of 2019. This took their assets to a record $89.7bn.
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Source: technocodex.com
Fed Hires BlackRock to Help Calm Markets. Its ETF Business Wins Big
September 18, 2020--The central bank's market intervention helped the largest U.S. provider of corporate bond exchange-traded funds get large
The Federal Reserve's March commitment to deploy billions of dollars to prop up the economy was a boon for the company the Fed hired to help execute its plan: BlackRock Inc., the world's largest asset manager.
In response to the pandemic-induced market collapse, the Fed promised to buy corporate bonds and exchange-traded funds that invest in collections of corporate debt.
The Fed had never bought ETFs or corporate bonds before. The central bank tapped BlackRock to help advise it and buy the bonds and funds on its behalf, though the central bank retained ultimate authority over what to purchase.
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Source: wsj.com
Cabana Asset Management Introduces New Suite of Target Drawdown ETFs with More Than $1 Billion in Initial Assets
September 17, 2020--Launch provides a broader swath of investors with access to firm's unique defined-risk investment approach
Cabana Asset Management ("Cabana"), a wholly owned subsidiary of The Cabana Group, LLC and an SEC registered investment adviser providing risk-managed investment products to investors, advisors and institutions, today announced the continued expansion of its client-focused investment lineup with the launch of its new suite of Target Drawdown ETFs, in partnership with private label ETF advisor Exchange Traded Concepts (ETC).
Building on the proven track record of Cabana's Target Drawdown Professional Series of separately managed accounts (SMAs), which are available exclusively through the firm's financial professionals and RIA partners, the new family of Target Drawdown ETFs is built with the goal of maintaining and growing investor wealth over the long term by clearly defining risk in terms of the maximum expected percentage loss ("target drawdown"). There are five strategies in the initial suite of ETFs with target drawdown percentages ranging from 5% to 16%.
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Source: Cabana Group
US futures exchanges target retail investors with 'mini' contracts
September 15, 2020--New products come after rising stock markets lift notional value, and therefore fees, of popular bets.
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Source: FT.com
BlackRock and Vanguard look set to extend dominance to active ETFs
September 13, 2020--Survey finds institutional investors prefer them over the leading active ETF managers
BlackRock and Vanguard, the twin powerhouses of the passive investment industry, look set to grab the lion's share of assets in the small, but faster growing world of actively managed exchange traded funds.
The finding is likely to disappoint active fund managers, which have been squeezed by the rapid growth of passive ETFs in recent years and might have viewed the rollout of active ETFs as a way for them to fight back and grab a share of the lucrative pie.
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Source: FT.com
Non-transparent ETFs pass their first test -spreads are tight
September 11, 2020--Although precise holdings are concealed, trading has been less cautious than anticipated.
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Source: FT.com
Three new stock exchanges take aim at incumbents in the US
September 11, 2020--A trio of new stock exchanges launches in the US this month, hoping to shake up a market long dominated by another threesome-the New York Stock Exchange, Nasdaq and Cboe Global Markets.
The Long Term Stock Exchange, a San Francisco-based bourse, opened for business on Wednesday this week. It will be followed by MEMX and Miax Pearl Equities, which begin operations on September 21 and 25 respectively, bringing the number of full exchanges in the US to 16.
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Source: technocodex.com
