Americas ETP News
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CFTC.gov Swaps Report Update
April 4, 2018--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
BNY Mellon DR Index Monthly Performance-March 2018
April 4, 2018--The BNY Mellon DR Index Monthly Performance for March 2018 report is now available.
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Source: BNY Mellon
Learnedly launches the ETF Proficiency Course for Canadian Mutual Fund Dealer Representatives
April 4, 2018--Learnedly has newly launched the ETF Proficiency Course, an exchange traded funds (ETF) training course that follows the curriculum requirements set out by the Mutual Fund Dealers Association of Canada (MFDA) that allow mutual fund representatives to satisfy the proficiency requirements to offer ETFs to clients.
"ETFs are a growing part of the investment landscape for Canadians," says John Waldron, Learnedly's founder. "We created this course to help more financial professionals have meaningful discussions with their clients about ETFs and how they can fit in a client's overall investment strategy."
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Source: Learnedly
Renaissance Capital-Scheduled U.S. IPOs this week
April 4, 2018--Scheduled U.S. IPOs-Week of 04/09/18
Zuora (ZUO)-San Mateo, CA
Deal Size: $100 mil Exchange: NYSE
Lead Underwriter: Goldman Sachs
Provides a cloud-based subscription billing and management platform. View more...
IPO Commentary
Spotify opens at $166 and declines to $149 on first day of trading
Spotify (SPOT) began trading on the NYSE on Tuesday. The stock opened at $165.90, a 38% premium to the $120.50 stock price used in the company's internal valuation in December and a 25% premium to the $132.50 high end... read more
IPO Index Performance
The Renaissance IPO Index has returned 1.1% so far this year,
compared to -0.4% for the S&P 500.
IPOUSA
IPO Activity
There have been 45 IPOs priced so far this year, a +55% change from last year.
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Source: Renaissance Capital
ETFGI reports that US-listed ETFs and ETPs suffered 10.6 billion US dollars net outflows during February 2018, the first outflows since January 2016
April 4, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that US-listed ETFs and ETPs suffered US$10.6 billion net outflows during February 2018, the first outflows since January 2016 and the largest monthly amount since January 2014, when net outflows were US$15.6 billion. Year-to-date net inflows reached US$68.2 billion at the end of February. (All dollar values in USD unless otherwise noted.)
Highlights
US-listed ETFs/ETPs suffered $10.6 Bn net outflows during February 2018, the largest since January 2014, which saw $15.6 Bn in net outflows
Equity ETFs/ETPs experienced $14.30 Bn net outflows, the largest since February 2016, with $15.2 Bn
SPDR ETFs experienced outflows of $25.3 Bn, the first since January 2015, when $26.7 Bn net outflows were recorded
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Source: ETFGI
ETFGI reports assets invested in ETFs and ETPs listed in Canada decreased by 4.06% during February 2018
April 4, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that assets invested in ETFs and ETPs listed in Canada decreased by a record US$4.94 billion during February 2018. The decrease of 4.06% from US$121.9 billion at the end of January 2018 to US$116.9 billion at the end of February, also represents the lowest growth in assets since January 2015, when assets decreased by 6.96% from US$66.1 billion to US$61.5 billion. (All dollar values in USD unless otherwise noted.)
Highlights
Due to market moves the assets invested in ETFs/ETPs listed in Canada decreased by 4.06%, or $4.94 Bn, during February to $116.9 Bn
Net new assets gathered by ETFs/ETPs listed in Canada were $2.11 Bn, the highest monthly net inflows since November 2017, which had $2.50 Bn
February 2018 marked the 5th consecutive month of net inflows into ETFs/ETPs listed in Canada
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Source: ETFGI
New York Fed launches U.S. Libor contender, slow takeup seen
April 3, 2018--The New York Federal Reserve launched a benchmark U.S. rate on Tuesday to potentially replace Libor, and market participants hope it will prove more reliable after a long and complex switchover.
The Secured Overnight Financing Rate (SOFR) set at 1.80 percent. SOFR is based on the overnight Treasury repurchase agreement market, which trades around $800 billion in volume daily.
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Source: Reuters
CBO-H.R. 4790, Volcker Rule Regulatory Harmonization Act
April 3, 2018--Summary
The Volcker Rule restricts financial institutions insured by the Federal Deposit Insurance Corporation from engaging in certain proprietary trading of securities, derivatives, commodity futures, and options on those instruments. With some exceptions, the rule also prohibits those institutions from owning, sponsoring, or having certain relationships with hedge funds and private equity funds.
Rulemaking responsibilities under the Volcker Rule are shared among a group of financial regulatory institutions, including the Board of Governors of the Federal Reserve System.
H.R. 4790 would amend current law to grant the Federal Reserve's Board of Governors sole authority for that rulemaking. The bill also would exclude community banks-those with less than $10 billion in assets and that meet certain other criteria-from the Volcker Rule's requirements.
