Americas ETP News
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SEC Highlights Top Advisor Ad Violations
September 14, 2017--OCIE risk alert details advisors' failures to comply with Rule 206(4)-1, also known as the Advertising Rule.
The Securities and Exchange Commission's exam division released Thursday a Risk Alert detailing advisors' failures to comply with Rule 206(4)-1, also known as the Advertising Rule, under the Investment Advisers Act.
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Source: thinkadvisor.com
Bats Welcomes New Issuer Goldman Sachs Asset Management to the Bats ETF Marketplace
September 14, 2017--Bats, a CBOE Holdings, Inc. company, and a leading market for exchange-traded product (ETP) trading globally, today welcomed new issuer Goldman Sachs Asset Management, L.P. ("GSAM") to the Bats ETF Marketplace, with the listing of one fund.
The Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (Bats: GSEW) seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Solactive U.S. Large Cap Equal Weight Index. The Index consists of equity securities of large capitalization U.S. issuers.
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Source: Bats Global Markets
Bats Welcomes New Global X Fund to the Bats ETF Marketplace
September 13, 2017--Bats, a CBOE
Holdings, Inc. company, and a leading
market for exchange-traded product (ETP) trading globally, today welcomed
a new Global X fund to the Bats ETF
Marketplace, with the launch of one fund.
The Global X U.S. Preferred ETF
(Bats: PFFD)seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the BofA Merrill Lynch Diversified Core U.S. Preferred Securities Index.
In tracking this index, PFFD seeks to provide broad benchmark-like exposure to the US preferred asset class, with a low expense ratio of 0.23%.
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Source: Bats Global Markets
CFTC.gov Swaps Report Update
September 13, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Merk Insight: Investment Advice For My Children and Grandchildren
September 13, 2017--Okay, so I don't have grandchildren yet, but I want to increase the odds you read beyond the title if you are old enough to have grandchildren. Should the investment advice we give to someone young truly be different from that given to someone old? And given where asset prices are, is it responsible to tell anyone to pile into the markets?
Here are my thoughts on the topic, hopefully applicable not just for my children:
Hedge fund manager Ray Dalio likes to say he chose the first stock he ever bought because it cost less than $5 a share, given that his savings from caddying at the time were, well, five bucks. That story is a great icebreaker but also highlights with what's wrong with our industry: when we think about investing, we immediately think about the stock market. Let’s take a step back.
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Source: Merk Investments
ETFGI reports assets invested in ETFs/ETPs listed globally have increased 23 percent in 2017 to reach a new record 4.364 trillion US dollars at the end of August
September 12, 2017--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that assets invested in ETFs/ETPs listed globally have increased 23% in the first 8 months of the year to reach a new record of US$4.364 trillion at the end of August 2017, according to ETFGI's August 2017 preliminary global ETF and ETP industry insights report an annual paid for research subscription service.
The Global ETF/ETP industry had 7,019 ETFs/ETPs, with 13,199 listings, assets of US$4,364 Bn, from 331 providers on 70 exchanges in 56 countries.
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Source: ETFGI
USCF Announces Changes to Product Line
September 22, 2017--USCF, a leading-
edge provider of exchange traded product innovation, announced today
that it plans to close and liquidate two of its products as a result of a decision and vote by the Board of Trustees of USCF ETF Trust that
approved the liquidation and dissolution of the following exchange-
traded funds (the "Funds"):
Stock Split Index Fund (TOFR)
USCF Restaurant Leaders Fund (MENU).
The final day for creations will be October 10, 2017.
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Source: USCF
NEW: First Asset Enhanced Short Duration Bond ETF (TSX: FSB)-Actively managed by Marret Asset Management
September 12, 2017--First Asset Investment Management Inc. ("First Asset") is pleased to announce that First Asset Enhanced Short Duration Bond ETF (the "ETF") has closed the initial offering of its units (the "Units") and the Units will commence trading today on the Toronto Stock Exchange ("TSX") under the ticker symbol FSB.
The ETF anticipates launching a class of US dollar denominated units (the "US$ Units") in October, 2017. The US$ Units will trade on the TSX under the ticker symbol FSB.U.
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Source: First Asset
Renaissance Capital IPO commentary: What's a unicorn worth?
September 12, 2017--Silicon Valley's still-private tech giants must think that Christmas has come early!
When blank check company Social Capital Hedosophia (IPOA.U) announced its intention to raise up to $575 million to purchase a technology unicorn, they promised to provide an attractive alternative to the traditional IPO market, which they contend discourages going public through suboptimal price discovery. According to Social Capital, "limited price discovery and short-term focused investors" have resulted in systemic underpricing of technology IPOs relative to non-technology IPOs.
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Source: Renaissance Capital
CBOE Holdings Announces Plans to Launch Options on S&P Select Sector Indices
September 12, 2017--Options will be available on 10 sectors that comprise the S&P 500(R), pending regulatory approval
Expected to hold particular market appeal for European investors interested in targeted exposure within key U.S. equity benchmarks
Further expands CBOE's successful suite of products tied to S&P Dow Jones Indices, with trading and settlement features similar to CBOE's S&P 500 options (SPX)
