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Cboe Plans to Introduce New Lead Market Maker Incentive Program for its Cboe Listed ETP Marketplace
June 14, 2019--Cboe continues to innovate with a new Lead Market Maker Incentive Program that incorporates enhanced market quality requirements
Lead Market Makers on the Cboe Listed Marketplace planned to be rewarded for meeting certain quoting obligations and market quality metrics for Cboe-listed ETPs
New program planned to become effective in the third quarter of 2019, subject to regulatory review
Cboe Global Markets, Inc. (Cboe: CBOE), one of the world's largest exchange holding companies, today announced it plans to introduce a new Lead Market Maker (LMM) incentive program with enhanced market quality requirements on its Cboe Listed Marketplace for exchange traded products (ETPs).
The proposed new LMM program aims to provide a superior trading experience for issuers and investors by incenting Lead Market Makers to demonstrably enhance market quality in the form of tighter markets and deeper liquidity for Cboe-listed ETPs.
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Source: Cboe Global Markets, Inc.
CFTC.gov Commitments of Traders Reports Update
June 14, 2019--The current reports for the week of June 14, 2019 are now available.
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Source: CFTC.gov
Innovator Preps for MSCI EAFE and Emerging Markets Defined Outcome ETF
June 14, 2019--New Defined Outcome ETFs will provide International Developed and Emerging Markets exposures, up to a cap, with 15% downside buffers over a one year Outcome Period
The only ETFs with built-in buffers on the MSCI EAFE and MSCI Emerging Markets Indexes
Innovator Capital Management, LLC (Innovator) today announced plans to expand the category creating Innovator Defined Outcome ETFsm suite with two additional Buffer ETFs based on the MSCI EAFE and the MSCI Emerging Markets Indexes.
Developed to provide investors buffered exposure to leading international equity benchmarks, the two new ETFs are anticipated to list on the NYSE Arca on July 1, 2019.
"Based on advisor feedback, we are moving forward to provide Buffer ETFs with MSCI EAFE and Emerging Markets exposures," said Bruce Bond, CEO of Innovator ETFs.
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Source: Innovator ETFs
Backlash From ETF Traders Grows Over Push for Bond Reporting Lag
June 14, 2019--They oppose a FINRA pilot program that would extend bond dealers' reporting time for large corporate bond transactions.
An audacious plan to give bond dealers more time to reveal large corporate-debt transactions has sparked a blowback from traders of exchange-traded funds.
Jane Street Group, one of the largest ETF market-makers, hedge fund Citadel LLC and an association of proprietary trading firms have all raised red flags about the impact that reduced transparency could have on the $2.2 trillion-a-year market for fixed-income ETFs. Vanguard Group also warned that the plan could increase costs for investors, as did Dimensional Fund Advisors.
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Source: thinkadvisor.com
Global X ETFs to Liquidate 2 ETFs
June 14, 2019--Global X ETFs, the New York-based provider of exchange-traded funds, today announced the scheduled liquidation of two ETFs, the Global X| JPMorgan Efficiente Index ETF and the Global X| JPMorgan U.S. Sector Rotator Index ETF (NYSE Arca: SCTO) based on an ongoing review process of its product lineup to ensure it meets the evolving needs of its clients.
Shareholders may sell their holdings in the Funds prior to the end of the trading day on Friday, July 5, 2019, and customary brokerage charges may apply to these transactions. The Funds will cease trading at the end of the trading day on Friday, July 5, 2019. The Funds will liquidate on or around Friday, July 12, 2019.
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Source: Global X
Global X ETFs to Liquidate 2 ETFs
June 14, 2019--Global X ETFs, the New York-based provider of exchange-traded funds, today announced the scheduled liquidation of two ETFs, the Global X |JPMorgan Efficiente Index ETF (NYSE Arca: EFFE) and the Global X |JPMorgan U.S. Sector Rotator Index ETF (NYSE Arca: SCTO) based on an ongoing review process of its product lineup to ensure it meets the evolving needs of its clients.
Shareholders may sell their holdings in the Funds prior to the end of the trading day on Friday, July 5, 2019, and customary brokerage charges may apply to these transactions. The Funds will cease trading at the end of the trading day on Friday, July 5, 2019. The Funds will liquidate on or around Friday, July 12, 2019.
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Source: Global X
KraneShares launches 2 ETFs focused on dividends
June 13, 2019--KraneShares has brought to NYSE Arca two exchange-traded funds investing in US stocks with a history of paying strong, rising dividends.
The KFA Small Cap Quality Dividend Index ETF invests mostly in stocks in the Russell 2000 Dividend Select Equal Weight Index, while the KFA Large Cap Quality Dividend Index ETF picks most of its investments from the Russell 1000 Dividend Select Equal Weight Index.
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Source: SmartBrief
Fidelity(R) Launches New Model Portfolios with Business Cycle and Factor ETF Strategies
June 13, 2019--Fidelity's Growing Lineup, Available to Financial Advisors, Includes a New Suite of Equity Models
Fidelity Investments(R), one of the largest and most diversified global financial services firms with $7.6 trillion in client assets1, today launched new business cycle model portfolios and factor ETF model portfolios. These models broaden Fidelity Model Portfolios' existing lineup with an expanded universe of investment opportunities.
Fidelity provides a range of model options-including ETFs and mutual funds, active and passive management, strategic and dynamic management approaches, Fidelity funds and offerings from leading fund providers-all focused on helping advisors meet their clients' needs.
The business cycle model portfolios incorporate a dynamic investment approach based on shifts in the business cycle, designed to enhance risk-adjusted returns. The factor ETF model portfolios are designed to help achieve specific outcomes in the U.S. equity allocation of a portfolio. They expand upon Fidelity's existing offering, which includes models designed for core diversification as well as distribution income.
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Source: Fidelity Investments
New 'megatrend' ETFs let you invest in everything that's cool
June 13, 2019--BlackRock has an ETF for virtually any niche you might want to invest in. Now BlackRock has launched a new suite of products so investors can tackle so-called "megatrends"
The new exchange-traded funds promise to be the purest way to access emerging areas, including robotics and AI, genomics, energy innovation and the developing world's emerging middle class.
To profit from investing in a trend, you have to go beyond investing in just one stock, according to BlackRock (BLK).
You shouldn't buy only Tesla (TSLA) if you want to get exposure to electric and self-driving vehicles, said Armando Senra, head of US, Canada and Latin America iShares.
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Source: CNN
U.S. Weekly FundFlows Insight Report: Fund Flows Turn Positive for the Week
June 13, 2019--For the first week in three, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs), injecting $25.3 billion for Lipper's fund-flows week ended June 12, 2019. Fund investors were net purchasers of money market funds (+$12.9 billion), taxable fixed income funds (+$7.2 billion), equity funds (+$4.4 billion), and municipal bond funds (+$778 million).
Market Wrap-Up
For the fund-flows week ended June 12, 2019, the broad-based U.S. indices posted their second consecutive week of plus-side returns, as U.S./Mexico trade tensions declined and a weaker-than-expected nonfarm payrolls report had some pundits believing the Federal Reserve's next move might be on the accommodative side.
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Source: Refinitiv
