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Renaissance Capital Scheduled U.S. IPOs-Week of 11/20/17
November 17, 2017---U.S. IPOs-Week of 11/20/17
IPO Commentary
2017 IPO state rankings: California clings to #1 spot with TX and NY close behind
Driven by Silicon Valley, California is again the most active state for 2017 IPO activity with 26 offerings so far this year.
The group averages an impressive 44%....
Private Equity-backed IPOs: Spotlight on KKR
47 companies have gone public in 2017 with private equity backing, up 42% from the 33 IPOs during the full-year 2016. KKR has brought 4 IPOs to market in 2017, by far the most active PE firm in...
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Source: Renaissance Capital
Guggenheim Investments to Close and Liquidate Guggenheim Large Cap Optimized Diversification ETF (OPD) in December
November 17, 2017--Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, today announced it will close and liquidate Guggenheim Large Cap Optimized Diversification ETF (NYSE Arca:OPD).
In November 2017, the Board of Trustees of Claymore Exchange-Traded Fund Trust (the "Trust") approved the closing and subsequent liquidation of OPD.
Monday, December 18, 2017, will be the last day of trading on the NYSE Arca, Inc., for OPD ("the fund") which had $1.4 million in assets, or less than 0.0037% of Guggenheim Investments' total $38 billion in exchange-traded assets as of November 10, 2017.
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Source: Guggenheim Investments
New York Fed Sees a Healthy Fear in the Volatility Curve
November 16, 2017--The same week they took on bears who warn low stock volatility is a recipe for high stock volatility, New York Federal Reserve staffers are back with a rebuttal for everyone who says the record-low VIX signals complacency.
Worry not, economists and analysts at the branch wrote in a follow-up blog post, the character of today's freakishly low volatility isn't the same as that which prevailed before the financial crisis.
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Source: Bloomberg
Intercontinental Exchange Launches Trading of NYSE FANG+TM Index Futures Contract; More than 2,000 Contracts Traded in First Week
November 16, 2017--Intercontinental Exchange (NYSE:ICE, a leading operator of global exchanges and clearing houses and provider of data and listings services, launched the NYSE FANG+TM Index futures contract on ICE Futures U.S.(R) on November 8, 2017. The new contract had over 2,000 contracts trade in the first week.
NYSE FANG+ Index futures were designed to offer hedging and exposure to a select group of highly-traded growth stocks of tech-enabled companies. The NYSE FANG+ Index contract is a cash settled quarterly futures contract based on the NYSE FANG+ Index, and offers the capital efficiency of futures.
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Source: Intercontinental Exchange
State Street shifts to home-grown indices for three US stock ETFs
November 16, 2017--State Street has dropped Russell indices and begun to compile its own baskets for three US-focused exchange-traded funds, underlining the race to cut costs and the backlash against fees charged by index providers in the burgeoning industry.
The Boston-based asset manager will move away from Russell's indices on three of its ETFs: the SPDR Russell 3,000, SPDR Russell 1,000 and SPDR Russell 2,000.
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Source: FT.com
Horizons US Enters into Strategic Partnership with Cadence Capital Management
November 16, 2017--Relationship will culminate in launch of actively managed products
Horizons ETFs Management (US) LLC ("Horizons US"), has partnered with Cadence Capital Management ("Cadence") to develop a series of actively managed, transparent ETFs.
Cadence, founded in 1988 and based in Boston, manages approximately $4.4 billion in assets and is a wholly owned subsidiary of Pacific Life Insurance Company.
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Source: Horizons ETFs Group
ProShares Launches the First ETF Specifically Designed to Benefit from the Decline of Bricks and Mortar Retailers
November 16, 2017--ProShares, a premier provider of ETFs, today launched ProShares Decline of the Retail Store ETF (NYSE Arca: EMTY), the first ETF specifically designed to benefit from the decline of bricks and mortar retailers.
Also launching today is ProShares Long Online/Short Stores ETF (NYSE Arca: CLIX).
EMTY: Short Exposure to Bricks and Mortar Retail
EMTY is the first ETF designed to allow investors to benefit from the potential on-going erosion of value of retailers that rely principally on in-store sales
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Source: ProShares
SEC Enforcement Division Issues Report on Priorities and FY 2017 Results
November 15, 2017--In its ongoing efforts to protect Main Street investors, the Securities and Exchange Commission's Enforcement Division today issued a report highlighting its priorities for the coming year as well as a review of enforcement actions that took place during FY 2017.
In the report, Co-Directors Stephanie Avakian and Steven Peikin stated their overall enforcement approach: "Vigorous enforcement of the federal securities laws is critical to combat wrongdoing, compensate harmed investors, and maintain confidence in the integrity and fairness of our markets."
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Source: SEC.gov
Treasury International Capital Data For September
November 15, 2017--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for September 2017.
The next release, which will report on data for October 2017, is scheduled for December 15, 2017.
The sum total in September of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC outflow of $51.3 billion.
Of this, net foreign private outflows were $17.3 billion, and net foreign official outflows were $34.0 billion.
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Source: treasury.gov
CFTC.gov Swaps Report Update
November 15, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
