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Evolve Files Preliminary Prospectus for Canada's First Actively Managed U.S. Marijuana ETF
March 29, 2019--Evolve Funds Group Inc. ("Evolve") is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for Canada's first actively managed U.S. marijuana industry focused ETF.
The U.S. Marijuana ETF ("USMJ") is designed to provide investors with long-term capital appreciation by actively investing in a diversified mix of equity securities of public issuers that are involved in the U.S. marijuana industry where state and local laws regulate and permit such activities. Evolve will act as portfolio manager for USMJ.
USMJ follows the success of Evolve's actively managed, Evolve Marijuana ETF ("SEED") which is Canada's top performing TSX-listed equity ETF over the past 1 year. ending February 28, 2019.
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Source: Evolve Funds Group Inc.
Horizons ETFs Rebalances the Horizons Emerging Marijuana Growers Index ETF (HMJR)
March 29, 2019--Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") has completed the quarterly rebalance of the constituent holdings of the Horizons Emerging Marijuana Growers Index ETF ("HMJR:NEO"). HMJR seeks to replicate, to the extent possible, the performance of the Emerging Marijuana Growers Index, net of expenses.
The Emerging Marijuana Growers Index is designed to provide exposure to the performance of a basket of primarily North American publicly listed smallcapitalization companies primarily involved in the cultivation, production and/or distribution of marijuana.
HMJR invests in small-market-capitalization companies with market capitalizations generally between CAD $50 million and CAD $500 million.
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Source: Horizons ETFs Management (Canada) Inc.
CFTC Unanimously Approves Project KISS Rulemakings to Ease Regulatory Burdens
March 28, 2019-The Commodity Futures Trading Commission (CFTC) announced today that it has unanimously approved two final rule amendments to simplify registrants' obligations.
"These final rule both originated as proposal from our Project KISS initiative, intended to simplify and reduce burdens by revisiting our rules based on staff implementation experience and public comment," said CFTC Chairman J. Christopher Giancarlo. "By reducing the unnecessary complexity and prescriptiveness of these rules, we are providing additional flexibility for market participants, without reducing the effectiveness of our rules."
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Source: CFTC.gov
Schwab Introduces Subscription-Based Financial Planning Option in Its Digital Advisory Service
March 28, 2019--New pricing model delivers a modern approach to planning
To simplify its approach to comprehensive professional guidance and financial planning for the firm's digital advisory services, Charles Schwab is moving to a new subscription pricing model for Schwab Intelligent AdvisoryTM and renaming the service Schwab Intelligent Portfolios PremiumTM.
There are no pricing changes to Schwab Intelligent Portfolios(R), the firm's automated investing service, which charges no advisory fee.
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Source: Charles Schwab
U.S. economy grew a slower 2.2% in the fourth quarter, new GDP figures show
March 28, 2019--Adjusted pretax corporate profits fall for first time in seven quarters
March 28, 2019--The numbers: The economy grew somewhat slower in the final three months of 2018 than it originally appeared, largely because of softer consumer spending and a weaker climate for business investment that's likely to depress growth in the first quarter as well.
Gross domestic product, the official scorecard for the economy, expanded at a 2.2% annual pace in the fourth quarter, the government said Thursday. GDP was marked down from an initial 2.6% estimate.
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Source: marketwatch.com
Citi wealth management launches digital financial planning
March 28, 2019--Product lets clients select their financial goals and create a plan for achieving them
Citi is the latest bank turning to technology to boost its financial advice business.
It's rolling out Citi Wealth Advisor, a digital financial planning product, to members of Citigold, the bank's wealth management program for people with at least $200,000 in assets. Clients select their financial goals and create a road map for how to achieve them.
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Source: investmentnews.com
Marijuana Banking Bill Approved By Congressional Committee
March 28, 2019--A congressional committee voted on Thursday to approve legislation aimed at increasing marijuana businesses' access to banks.
Following multiple days of lengthy debate and consideration of several amendments, the House Financial Services Committee voted 45 to 15 to advance the legislation to the full body.
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Source: Forbes
CFTC.gov Swaps Report Update
March 27, 2019--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
US efforts to cut trade deficit show biggest win in almost a year
March 27, 2019--The U.S. trade deficit fell much more expected in January to $51.15 billion, from a forecast $57 billion.
The decline of 14.6 percent represented the sharpest drop since March 2018 and comes amid continued negotiations with China this week.
The trade deficit between the U.S. and its global partners dropped sharply in January to $51.15 billion as exports rebounded from a slowdown at the end of 2018, the Commerce Department reported Wednesday.
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Source: CNBC
CFTC Staff Issues Research Report on Impact of Automated Orders in Futures Markets
March 27, 2019--The Commodity Futures Trading Commission's (CFTC) Market Intelligence Branch in the Division of Market Oversight (DMO) issued a report today that analyzed the entering of orders manually and automatically in commodity futures markets in the United States to determine how technological change is affecting futures trading.
DMO staff used internal CFTC transactional data for 30 futures contracts during the period January 2013-December 2018, and examined what effects, if any, the manual and automated order placement mechanisms had on these markets.
The research produced the following findings:
The percentage of automatically placed orders has increased for all commodity futures markets;
Automated orders are smaller in size than manual orders and their resting times are shorter than the resting times of orders placed manually;
view the CFTC Impact of Automated Orders in Futures Markets report
Source: CFTC.gov
