Americas ETP News
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CBOE Will Not List Bitcoin Futures in March, Cites Need to Assess Crypto Derivatives
March 14, 2019--The Chicago Board Options Exchange (CBOE) will not add a new Bitcoin (BTC) futures market in March, the firm said in a statement on March 14.
Per the statement, CBOE is re-evaluating how it approaches trading digital assets.
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Source: cointelegraph.com
JPMorgan Goes Low In Search Of ETF Growth
March 14, 2019--JPMorgan Asset Management (JPAM) unit entered the exchange traded funds business late relative to larger rivals. The firm's willingness to compete with entrenched players on fees and populate its funds with existing client assets has helped the issuer ascend to the tenth spot among U.S. ETF sponsors.
On Wednesday, JPAM reiterated to investors and the ETF industry at large it's serious about competing when it comes to costs.
What Happened
The JPMorgan BetaBuilders U.S. Equity ETF (CBOE: BBUS) debuted Wednesday with an annual fee of 0.02 percent, or $2 on a $10,000 investment, making the fund the least expensive ETF in the U.S. BBUS is a traditional, cap-weighted domestic equity fund.
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Source: benzinga.com
The FORUM at ETF Research Center-Is My ETF Priced Right? Look at the Comps
March 13, 2019--In real estate, buyers and sellers often look to "comps" to help determine a home's value. Comps are usually an average price at which similar homes in the area have sold in the recent past. Since a home is most people's largest investment, buyers are keen to get good value for their money.
ETF investors want to do the same. But determining an ETF's comps can be difficult, especially once you get past the big questions of asset class and geographic exposure. Our approach has always been to simply look at the ETFs with the most overlap in underlying holdings. You can see these on the 'Comps' tab of any equity fund page.
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Source: AltaVista Research
Salt Financial Launches Low Volatility ETF Powered By truBetaTM
March 13, 2019--Data, Index, and ETF provider debuts diversified ETF for conservative, risk averse investors
Salt Financial LLC, a provider of data, ETF, and index products, today announced the launch of the Salt Low truBetaTM US Market ETF (Ticker: LSLT). The new offering uses the firm's proprietary truBetaTM forecast and is designed to target low volatility and beta stability.
The ETF tracks the Salt Low truBetaTM US Market Index, gives exposure to US large and midcap equities with the opportunity for better risk adjusted returns.
The fund is launching with an expense ratio of 29 basis points. Although the fund filed a recent amendment covered by the press and in social media, the filing is pending review by the SEC.
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Source: Salt Financial LLC
First Trust Board Approves Reorganization of First Trust Heitman Global Prime Real Estate ETF into First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund
March 13, 2019--First Trust Advisors L.P. ("FTA") announced today that the Board of Trustees of First Trust Heitman Global Prime Real Estate ETF (NYSE Arca: PRME), an actively managed exchange-traded fund ("ETF"), managed by FTA, approved the reorganization of PRME into First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund (NYSE Arca: FFR), an index based ETF managed by FTA.
The reorganization has also been approved by the Board of Trustees of the FFR. FFR will be the surviving fund.
Under the terms of the proposed transaction, which is expected to be tax-free, the assets of PRME would be transferred to, and the liabilities of PRME would be assumed by, FFR, and shareholders of PRME would receive shares of FFR with a value equal to the aggregate net asset value of the PRME shares held by them.
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Source: First Trust
CFTC.gov Swaps Report Update
March 13, 2019--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Lack of Education, Demand for Alternative Strategies & More: The Next Big Trends in the ETF Industry
MArch 13, 2019--All signs point to the ETF industry searching for its next pivot point. To kick us off in 2018, we saw the continued trajectory toward new equity index ETF products first led by the roll-out of blockchain ETFs.
However, this year seems to signal something entirely different as there has been little to no fanfare about new ETF products entering the space. Chatter in the industry has revolved primarily around deals between small ETF issuers and the absence of, or less show of strength by, large ETF issuers. Consolidation and slowing product innovation have been the bellwether signaling the maturity of many industries.
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Source: ETFBILD
CORRECTING and REPLACING State Street Global Advisors Continues to Strengthen its High Yield Fixed Income ETF Offering
March 13, 2019--Enhancements to two SPDR Fixed Income ETFs designed to meet evolving needs of today's investors
The corrected release reads:
STATE STREET GLOBAL ADVISORS CONTINUES TO STRENGTHEN ITS HIGH YIELD FIXED INCOME ETF OFFERING
Enhancements to two SPDR Fixed Income ETFs designed to meet evolving needs of todays investors
State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced several enhancements to two high yield bond ETFs with a combined $8.8 billion in assets.
A 1:3 reverse share split will be implemented to reduce trading costs for the SPDR Bloomberg Barclays High Yield Bond ETF (JNK).
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Source: State Street Global Advisors
SEC: Fee Rate Advisory #2 For Fiscal Year 2019
March 12, 2019--The Securities and Exchange Commission today announced that starting on April 16, 2019, the fee rates applicable to most securities transactions will be set at $20.70 per million dollars.
Consequently, each SRO will continue to pay the Commission a rate of $13.00 per million for covered sales occurring on charge dates through April 15, 2019, and a rate of $20.70 per million for covered sales occurring on charge dates on or after April 16, 2019. The fee rate for fiscal year 2019 compares similarly to the fee rates in years prior to 2018. As noted in the last advisory, the lower rate in 2018 was in part the result of a substantially higher dollar amount of covered sales.
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Source: SEC.gov
Canadian securities regulators seek comment on the internalization of trade orders
March 12, 2019--The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) today published for comment the Joint CSA/IIROC Consultation Paper 23-406 Internalization within the Canadian Equity Market. The consultation paper seeks feedback in response to concerns regarding the internalization of orders within the Canadian equity market.
Internalization is generally considered to relate to situations where a trade is executed with the same dealer as both the buyer and the seller.
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Source: Canadian Securities Administrators (CSA)
