Americas ETP News
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Exclusive: Citadel Securities ups ETF game as part of growth push
May 22, 2018--Citadel Securities LLC has entered the lead market making business with a small list of exchange-traded funds, and is doubling down on hiring and analytics in 2018 to keep an edge over rival electronic trading firms, according to sources and an internal memo.
A bout of volatility early this year after a two-year lull fueled record trading revenue for the privately held firm in February. Chief Executive Peng Zhao told employees in an early March memo seen by Reuters that Citadel plans to focus on adding expertise in existing and new businesses including ETFs, arbitrage, options, fixed income, currencies and commodities and low-latency trading.
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Source: Reuters
First Trust Cross-Lists Two Additional ETFs in Mexico
May 21, 2018--As Mexican demand for U.S. and global ETFs grows, First Trust expands its offerings
First Trust Advisors L.P. ("First Trust"), a global ETF provider and asset manager, announced today that it has cross-listed the First Trust Capital Strength ETF (Ticker Symbol: FTCS) and the First Trust Indxx Innovative Transaction & Process ETF (Ticker Symbol: LEGR) on the Mexican stock exchange, Bolsa Mexicana de Valores (BMV).
First Trust entered the Mexican market in 2011. The additional listings brings the total number of domestic First Trust ETFs listed on the BMV to 53. "What a time it is to be in the world of investing," said Codie Sanchez, Head of First Trust Latin America Investment Distribution.
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Source: First Trust
NYSE appoints Stacey Cunningham as first female president
May 21, 2018--The New York Stock Exchange has appointed Chief Operating Officer Stacey Cunningham as its first female president, an NYSE spokeswoman told Reuters on Monday.
Cunningham, who will start her new role on Friday, will replace Thomas Farley as head of NYSE, which is owned by Intercontinental Exchange Inc...
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Source: Reuters
With ETFs About to Be Easier to Build, Aspiring Money Managers Go Solo
May 21, 2018--New rules to make setting up funds cheaper and easier to do
Lawsuits, easing regulation are encouraging going it alone
It's never been easier to start an exchange-traded fund--or so it seems.
Just ask the two wannabe asset managers who are planning new funds by themselves, away from the third-party ETF expert they previously relied upon to usher them through the arcane process.
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Source: Bloomberg
CFTC Staff Issues Advisory for Virtual Currency Products
May 21, 2018--The Commodity Futures Trading Commission's (CFTC) Division of Market Oversight (DMO) and Division of Clearing and Risk (DCR) today issued a joint staff advisory that gives exchanges and clearinghouses registered with the CFTC guidance for listing virtual currency derivative products.
"The CFTC staff is committed to providing regulatory clarity as much as possible," said DMO Director Amir Zaidi. "As the virtual currency market continues to evolve, CFTC staff will seek to provide additional guidance to help market participants keep pace with innovation while complying with CFTC regulations."
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Source: SEC.gov
Vanguard Announces Plans To Launch Total World Bond ETF
May 21, 2018--Vanguard today filed a preliminary registration statement with the Securities and Exchange Commission for Vanguard Total World Bond ETF.
The ETF will be the industry's first U.S.-domiciled index product offering investors access to the entire global investment-grade bond universe in a single portfolio. It is expected to launch in the third quarter of this year.
The fund will be structured as an ETF of ETFs, investing directly in two existing low-cost ETFs: Vanguard Total Bond Market ETF (BND) and Vanguard Total International Bond ETF (BNDX).
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Source: Vanguard
CFTC.gov Commitments of Traders Reports Update
May 18, 2018--The current reports for the week of May 18, 2018 are now available.
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Source: CFTC.gov
U.S. Fund-Flows Weekly Report: Funds Experience Second Largest Weekly Net Inflows of the Year to Date
May 18, 2018--Thomson Reuters Lipper's fund asset groups (including both mutual funds and ETFs) had net-positive flows of $26.5 billion for the fund-flows week ended Wednesday, May 16. The week's net inflows were the second largest for 2018, trailing only the $37.8-billion increase for the fund-flows week ended January 24.
All four of the asset classes took in net new money for the week, paced by money market funds (+$13.6 billion) and equity funds (+$10.1 billion). Taxable bond funds and municipal bond funds contributed $2.6 billion and $207 million, respectively, to the week's total net inflows.
Market Overview
The Dow Jones Industrial Average and the S&P 500 Index both posted positive returns for the fund-flows trading week; the indices closed up 0.92% and 0.91%, respectively.
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Source: Thomson Reuters
Investors Bet on Fresh Stock Volatility Like It's August 2016
May 18, 2018-Inflows into long-VIX instruments largest in nearly 2 years
Leveraged investors positioned for lower equity price swings
Stocks are calmer these days, but there's one corner of the market where investor nerves are on full display.
So far this month, more than $633 million has poured into U.S.-listed exchange-traded products that benefit from a rise in volatility, putting May on track to be the busiest streak for such inflows since August 2016, according to data compiled by Bloomberg Intelligence.
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Source: Bloomberg
British Columbia Securities Commission (BCSC) Investor Alert: Cryptocurrencies
May 17, 2018--The British Columbia Securities Commission (BCSC) has noticed an increase in the number of cryptocurrency offerings involving an initial coin offering (ICO) or initial token offering (ITO).
Companies may use cryptocurrency offerings to raise capital or to advance a project or a business, by issuing newly invented coins or tokens through an ICO or ITO. In many cases, these coins and tokens are securities. If they are securities, the company, and associated individuals, conducting the ICO or ITO must comply with securities law.
British Columbia residents should exercise extreme caution when considering whether to invest in a cryptocurrency offering. While some companies follow through on their business plan or idea, others do not. Some companies issue coins or tokens solely for speculative trading in the secondary market, which is an inherently risky activity for investors.
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Source: British Columbia Securities Commission (BCSC)
