Americas ETP News
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SEC moves to change broker-quote rule called susceptible to penny-stock fraud
March 8, 2019--The US Securities and Exchange Commission has taken the first step to changing a longstanding broker-quote rule to try to protect individual investors without harming capital formation in the wake of numerous penny-stock trading suspensions.
SEC Chairman Jay Clayton said today he has asked staff to "promptly" recommend modifications of the so-called piggyback exception that lets multiple brokers provide quotes on a company that has no recent financial information.
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Source: https://mlexmarketinsight.com
SEC Launches Major Review of Equity Trading Rules
March 8, 2019-Regulatory framework must evolve, chairman says in speech
Measures that were positive in 2005 may no longer be, he says
The U.S. Securities and Exchange Commission is starting a broad review of rules that have underpinned trading on the New York Stock Exchange and Nasdaq markets since 2005, according to the agency's chief.
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Source: Bloomberg
Clayton: SEC Plans to Update Equity Market Rules This Year
March 8, 2019--The plans address issues raised in a series of roundtables with market participants and investors last year. Last year the Securities and Exchange Commission's Division of Trading and Markets held a series of roundtables on issues related to structure of the U.S. equity market, including market data and access, thinly traded securities, and retail fraud and how to prevent it.
On Friday, SEC Chairman Jay Clayton and the division’s director, Brett Redfearn, in a public talk at Fordham University in New York City discussed how the agency plans to address this year some of the issues raised in those roundtables.
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Source: thinkadvisor.com
FTSE Russell Blog-Gender equality-more to be done across the board
March 8, 2019--Index IDEA: US equity markets come together in times of stress
As the old saying,goes, birds of a feather flock together. According to new insight from Tabb Group, CME and FTSE Russell, this has also been true in US equity market indexes during times of market stress
Gender equality-more to be done across the board
Equal boardoom balance remains a distant prospect, our data shows.
Factor valuation considerations
The increasing popularity of factor investing have raised questions about the valuation of factors.
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Source: FTSE Russell
GSAM Launches ETFs to Track Motif Indexes That Focus on the Next Wave of Innovation
March 7, 2019--The Goldman Sachs Motif ETFs provide exposure to companies that are driving the long-term global impact of technology across sectors
Goldman Sachs Asset Management (GSAM) today announced the launch of a suite of five exchange-traded funds (ETFs) that invest in the creators and adopters of innovation, across a range of sectors, market caps and geographies. The ETFs seek to track indices created by Motif, a leading provider of systematic, data-driven indices and strategies.
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Source: Goldman Sachs Asset Management, L.P. (GSAM)
Vanguard Files For Its First Actively Managed ESG Fund
March 7, 2019--Vanguard today added to its current environmental, social, and governance (ESG) fund offerings with Vanguard Global ESG Select Stock Fund. The new active equity fund will be managed by Wellington Management Company LLP and is expected to be available for investment in mid-2019.
"Vanguard's new Global ESG Select Stock Fund is taking a distinctive approach to ESG investing, seeking long-term outperformance through the selection of companies that integrate leading ESG practices into their corporate strategies," said Matthew Brancato, head of Vanguard's Portfolio Review Group.
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Source: Vanguard
ETFLogic Launches Advanced Analytics "Pages" Platform Providing Users With Unique Data Points on the US ETF Market
March 7, 2019--ETFLogic, the leading New York City-based ETF analytics and data technology company, today announced that ETFLogic Pages, a powerful new platform for discovering Exchange Traded Funds (ETFs) and uncovering investment trends, is now available for free.
Desjardins launches two RI ETFs
March 7, 2019--The ETFs track global and emerging market indices
Montreal-based Desjardins Global Asset Management Inc. (DGAM) has launched two ETFs that follow a responsible investment policy.
Both Desjardins RI Emerging Markets Multifactor Low CO2 ETF (DFRE) and Desjardins RI Global Multifactor Fossil Fuel Reserves Free ETF (DRFG) began trading on the Toronto Stock Exchange Thursday.
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Source: advisor.ca
Exclusive: SEC scrutinizes fairness of stock exchange pricing
March 7, 2019--The U.S. Securities and Exchange Commission is investigating whether the multi-tiered pricing system used by stock exchanges favors large brokers at the expense of small ones, according to a person familiar with the matter.
Under the current system, Wall Street banks and other massive traders get hefty rebates based on how much business they funnel to exchanges. The result of this complex and often opaque system is that big users can end up trading for free, or even get paid to trade, while small brokers pay substantial fees.
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Source: Reuters
Tradeweb Markets Files for IPO, Months After Blackstone Deal
March 7, 2019--Tradeweb Markets Inc., the bond and derivative platform co-owned by financial-data platform Refinitiv, filed for a U.S. initial public offering, kicking off plans to go public five months after being acquired as part of a $17 billion buyout.
Tradeweb filed with an initial offering size of $100 million, typically a placeholder amount used to calculate fees that's likely to change. The IPO is being led by JPMorgan Chase & Co., Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley, according to a filing with the U.S. Securities & Exchange Commission Thursday.
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Source: bnnbloomberg.ca
