Americas ETP News
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CORRECTING and REPLACING The NYSE Welcomes 2019 as the Global Leader in Listings
January 3, 2019--Exchange extends leadership as premier venue for global capital raising and listings;
Each of the last 25 consecutive U.S. IPOs raising $1 billion or more listed on the NYSE;
Flawlessly executed the first NYSE Direct Floor Listing
The New York Stock Exchange (NYSE), a wholly owned subsidiary of Intercontinental Exchange (NYSE:ICE), extended its leadership as the premier venue for capital raising, finishing the year with $125 billion in proceeds raised from 356 transactions.
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Source: Intercontinental Exchange
ETF News from The FORUM-Jan. 2019 Sector SPDR Analyzer
January 3, 2019--The ETF Analyzer, Sector SPDR Edition for January 2019 is ready for download. This monthly publication has succinct one-page reports on each of the 11 Select Sector SPDR ETFs in three easy-to-read sections:
Investment Summary, Fundamentals, and Composition. It helps investors:
Evaluate the funds based on investment merit using fundamental data and analysis
Compare the Sector SPDRs with ease on a variety of forward-looking valuation metrics
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Source: AltaVista Research
WisdomTree Funds Added to Pershing FundVest ETF Platform
Janaury 3, 2019--WisdomTree (NASDAQ: WETF), an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and asset manager, today announced that eight U.S.-listed WisdomTree ETFs have been added to BNY Mellon's Pershing FundVest(R) ETF, a no-transaction-fee ETF platform.
WisdomTree's addition brings the total number of fund providers on the FundVest ETF platform, which launched in June 2017, to nine.
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Source: WisdomTree
US-traded China ETFs drop amid growth worries
January 2, 2019--A contraction in China's manufacturing sector sparked concerns about a slowdown in the world's second-largest economy and sent jitters across markets Wednesday that hit US-listed Chinese exchange traded funds and companies on the first trading day of the year.
The iShares China large-cap ETF, which trades the FTSE China 50 index, including financial, oil and gas, technology and communications sectors, was down 1.6 per cent.
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Source: FT.com
Direxion Advisors Adjusts Leverage on PortfolioPlus ETFs
December 28, 2019--PortfolioPlus ETFs Offer Additional Boost of Exposure for Asset Allocation Portfolios
Effective on or about March 1, 2019, the investment objectives of the PortfolioPlus ETFs listed below, will change to increase the daily leverage.
The funds will provide 35% added daily exposure to popular broad-based indexes targeted by advisors. The PortfolioPlus ETFs can be applied to common asset allocation strategies to seek greater upside potential over time.* Although intended for use by investors who monitor their portfolios, their continued low leverage point allows them to be managed within a longer-term portfolio.
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Source: Direxion
Lipper U.S. Weekly FundFlows Insight Report: Funds Suffer Second Worst Net Outflows of the Year
December 21, 2018--Lipper's fund asset groups (including both mutual funds and ETFs) saw almost $43.0 billion net leave their coffers for the fund-flows trading week ended Wednesday, December 19. This represents the second worst net outflow for the year, trailing only the $51.6 billion net negative flow for the week ended Wednesday, June 20.
Equity funds (-$34.6 billion) and taxable bonds funds (-$10.4 billion) accounted for all of the net outflows while money market funds (+$1.7 billion) and municipal bond funds (+$255 million) took in net new money.
Market Overview
The Federal Reserve and global growth concerns weighed heavily on the markets this week. The markets spiraled downward as the S&P 500 Index and the Dow Jones Industrial Average shed 5.44% and 4.91%, respectively, for the week.
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Source: Refinitiv
Eurex gains permit to handle clearing for US asset managers
December 20, 2018--Deutsche Börse is set to ramp up its battle in swaps clearing with the UK's LCH after US derivatives markets regulators approved its licence to handle trillions of dollars of deals from big American asset managers.
The Commodity Futures Trading Commission on Thursday is set to hand out a permit to the German group's Eurex exchange, only the second overseas company to receive one, according to officials at the watchdog.
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Source: businesstelegraph.co.uk
SEC Office of Compliance Inspections and Examinations Announces 2019 Examination Priorities
December 20, 2018--The Securities and Exchange Commission's Office of Compliance Inspections and Examinations (OCIE) today announced its 2019 examination priorities.
OCIE publishes its exam priorities annually to promote transparency of its examination program and provide insights into the areas it believes present potentially heightened risk to investors or the integrity of the U.S. capital markets.
This year, particular emphasis will be on digital assets, cybersecurity, and matters of importance to retail investors, including fees, expenses, and conflicts of interest.
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Source: SEC.gov
SEC Proposes Rule Changes for Fund of Funds Arrangements
December 19, 2018--The Securities and Exchange Commission today voted to propose a new rule and related amendments designed to streamline and enhance the regulatory framework for fund of funds arrangements. Funds of funds are created when a mutual fund or other type of fund invests in shares of another fund.
"Mutual funds, exchange-traded funds (ETFs) and other types of funds have become increasingly important for Main Street investors to save for retirement and meet their other financial goals," said SEC Chairman Jay Clayton. "These funds invest in other funds for a variety of reasons, including to achieve asset allocation or diversification in an efficient manner, as well as to hedge and otherwise manage risk. However, depending on the size of the investments, funds may be required to seek an exemptive order, causing costs and delays, and resulting in a regulative regime where substantially similar fund of funds arrangements may be subject to different conditions. This proposal would create a consistent, rules-based framework for fund of funds arrangements while providing robust protections for investors."
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Source: SEC.gov
SEC Proposes Risk Mitigation Techniques for Uncleared Security-Based Swaps
December 19, 2018--The Securities and Exchange Commission today voted to propose rules requiring the application of risk mitigation techniques to portfolios of uncleared security-based swaps.
Proposed Rules 15Fi-3 through 15Fi-5 would establish requirements for registered security-based swap dealers and major security-based swap participants (SBS Entities) with respect to:
Reconciling outstanding security-based swaps with applicable counterparties on a periodic basis.
Engaging in certain forms of portfolio compression exercises, as appropriate.
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Source: SEC.gov
