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Big Bitcoin Exchange Ends Bid to Lure High-Speed Traders
April 23, 2019--Coinbase laid off about 30 people in its Chicago office
Cryptocurrency exchange Coinbase Inc. is ending an ambitious effort to win over high-frequency traders, the latest sign that bitcoin companies are having trouble attracting mainstream financial players.
As part of the move, Coinbase laid off about 30 people in its Chicago office who had been working to improve the company's technology to cater to speedy traders, Coinbase President and Chief Operating Officer Asiff Hirji said in an interview. The employees had been hired from local firms like futures exchange giant CME Group...
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Source: Wall Street Journal
Introducing the FTSE US Tax-Exempt Investment-Grade Municipal Bond Index
April 23, 2019--FTSE Russell is pleased to announce the launch of the FTSE US Municipal Tax-Exempt Investment-Grade Bond Index, which represents an important addition to the expanding family of FTSE Russell's fixed income and multi-asset indexes.
The new index serves as a barometer for the US municipal bond market, which is one of the largest fixed income markets in the world and is comprised of a diverse mix of issuers and security types. In addition to providing comprehensive representation of the entire US municipal bond market, the index also includes a series of granular sub-indexes, which allow for added visibility and deep analysis of the market.
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Source: FTSE Russell
LifeApps Announces Appointment of ProcureAM's Robert Tull To Serve on Board of Directors
April 23, 2019--LifeApps Brands, Inc., (OTC PINK: LFAP) a publicly traded company which intends to deliver financial and marketing platforms specific to the LGBTQ community, announced the appointment of award winning financial expert Robert Tull to its Board of Directors, effective April 18, 2019.
Mr. Tull will be leading in the creation and execution of our LGBTQ Index. In becoming part of the LifeApps team Mr. Tull will bring his passion for developing financial products to help us reach the incredible power of the LGBTQ consumer demographic.
Mr. Tull is a well-recognized expert in the ETF market since 1993 consulting to issuers and governments on ETF infrastructure support. He is a named inventor on multiple security patents involving exchange-traded products, and he has been successful in presenting innovative registration to the SEC since 1994.
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Source: LifeApps Brands Inc.
Stoplight system could spot meltdowns ahead-study
April 22, 2019--Proposed traffic light system sifts through transaction data for signs of trouble
A traffic-light system of risk indicators for financial market infrastructure could use transaction data to detect threats to financial stability in almost in real time, according to research due to be published later this year.
Ron Berndsen, the chairman of LCH's risk committee, and Ronald Heijmans, a senior data scientist and policy advisor at De Nederlandsche Bank, argue in their upcoming paper that monthly or quarterly monitoring of market infrastructures like payment and settlement systems.
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Source: Risk.net
FTSE Russell-Infrastructure REITs: A match made in low yield environment heaven
April 22, 2019--For a brief period, it appeared that the extended low yield environment of today might at last be coming to a close. But the Fed's about-face to a more dovish stance on interest rates has investors again searching for yield, giving a boost to income-producing investments.
Two asset classes that have benefited in particular are REITs and Infrastructure, and the combination of them—Infrastructure REITs-have performed notably better than broader REIT and equity indexes.
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Source: FTSE Russell
Global X Expands its Suite of Covered Call Strategies with the Launch of the Russell 2000 Covered Call ETF
April 22, 2019--Global X ETFs, the New York based provider of exchange traded funds, today announced that it has launched the Global X Russell 2000 Covered Call ETF (Cboe: RYLD), designed to track the Cboe Russell 2000 BuyWrite Index.
The fund gains exposure to the stocks in the Russell 2000 Index and writes at-the-money monthly call options on the same index. The fund receives a premium from writing the call options, which can help increase the fund's distributions and potentially mitigate downside risks.
The Russell 2000 Index primarily includes smaller market capitalization U.S. companies (small caps), those with a market value between $300 million and $2 billion. The small cap index is historically linked to increased volatility and returns relative to mid- and large-cap indices.
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Medicare Will Be Insolvent by 2026, Government Report Warns view more First Asset ETFs to be Rebranded as CI First Asset ETFs view more Victory Capital Reports Acquisition of USAA Asset Management Company on Track to Close on Time, and Announces Termination of Agreement to Acquire Harvest Volatility Management, LLC
"The acquisition of USAA Asset Management Company will meaningfully diversify our asset mix and investment capabilities and transform our business in terms of size and scale." view more "Non-transparent' ETFs set to be a boon for fund managers
Source: Global X
April 22, 2019-- The financial condition of the government's bedrock retirement programs for middle- and working-class Americans remains shaky, with Medicare pointed toward insolvency by 2026, according to a report Monday by the government's overseers of Medicare and Social Security.
It paints a sobering picture of the programs, though it's relatively unchanged from last year's update. Social Security would become insolvent in 2035, one year later than previously estimated.
Source: Time.com
April 22, 2019--First Asset Investment Management Inc. ("First Asset") and CI Investments Inc. ("CI"), an affiliate of First Asset, are pleased to announce that First Asset ETFs will be rebranded as CI First Asset ETFs effective April 29, 2019.
"The new branding reflects the growing synergies between our firms," said Rohit Mehta, President of First Asset and Executive Vice-President, CI Financial Corp. "We are bringing together First Asset's specialized experience in smart beta and actively managed ETFs with CI's strength in investment management and its extensive national reach."
Source: First Asset
April 22, 2019--Victory Capital Holdings, Inc. (NASDAQ: VCTR) ("Victory Capital" or the "Company") today reported that its planned acquisition of USAA Asset Management Company, which includes USAA's Mutual Fund and ETF businesses and its 529 College Savings Plan, is on target and expected to close effective July 1, 2019. USAA Asset Management Company had assets under management (AUM) of $70 billion as of March 31, 2019.
The transaction also includes $10 billion in AUM that is invested in USAA Mutual Funds through the managed money product offered by USAA's brokerage business-for a total of $80 billion of AUM, as of March 31, 2019, to be acquired.
Source: Victory Capital Holdings, Inc.
April 19, 2019-Regulators give nod to new tool that mimics active fund management
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Source: FT.com
