Americas ETP News
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LedgerX gets U.S. approval for derivatives on digital currencies
July 24, 2017--The U.S. Commodity Futures Commission said on Monday it has granted New York-based LedgerX, a bitcoin options exchange, the first license to clear and settle derivative contracts for digital currencies.
The license authorizes LedgerX to provide clearing services for fully collateralized digital currency swaps.
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Source: Reuters
Exclusive: Goldman Sachs retreats from ETF lead market making
July 24, 2017--Goldman Sachs Group Inc is pulling back substantially from trading that helps backstop the fast-growing use of U.S. exchange-traded funds, giving smaller firms an opportunity to grab market share.
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Source: Reuters
NYSE American Opens to Take on Upstart Exchange IEX
July 24, 2017--Overhauls smallest market with speed bump it once questioned
IEX opened a year ago after battle with rivals including NYSE
The New York Stock Exchange's response to industry rabble-rouser IEX Group Inc. is open for business.
Called NYSE American, the newest U.S. stock exchange went live Monday with a feature IEX first made famous: a 350-microsecond delay on orders, a speed bump that blunts some speed-driven trading strategies.
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Source: Bloomberg
AdvisorShares Weekly Market Review-Markets Continue To Melt (higher!)
July 24, 2017--Highlights of the Prior Week Ending 7/21/2017
Macro
The Bank of Japan (the central bank) left rates on hold at -0.1% and also revised its timetable for achieving 2% inflation to 2020.
There is a quote that goes something like "inflation is the easiest thing in the world to create, except when you need it." Before the financial crisis, the only concern was that of inflation. The crisis was a deflationary event that fortunately did not create a deflationary debt spiral but global GDP has not really gotten going, for developed countries anyway, and countries are struggling to get inflation to levels that would go with healthy growth.
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Source: AdvisorShares
Announcing the First U.S. Federally Regulated Exchange and Clearing House for Digital Currency Derivatives
July 24, 2017--LedgerX Receives U.S. Federal Government License to Trade, Clear and Settle Digital Currency Contracts
LedgerX, the New York-based institutional trading and clearing platform for digital currencies, receives approval to operate the first U.S. federally-regulated exchange and clearing house for derivatives contracts settling in digital currencies.
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Source: LedgerX
Deutsche Bank Markets Research-North America-United States-Synthetic Equity & Index Strategy-ETF+ Quarterly Directory
July 21, 2017--Data as of June 30th, 2017
This document includes all US listed exchange-traded funds (ETFs) and exchange-
traded vehicles (ETVs), plus a special section covering exchange-traded (ETNs).
The directory is organized by asset class and asset-class-related sub sections.
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Source: Deutsche Bank Markets Research-North America-United States-Synthetic Equity & Index Strategy
Power struggle at Guggenheim Partners rattles a Wall Street star
July 21, 2017--Battle between CEO and investment chief has alarmed clients and sparked departures.
A power struggle has broken out between Guggenheim Partners' two most prominent executives, sapping morale, alarming clients and contributing to the departure of several top managers, according to current and former employees of the $240bn asset manager and investment bank.
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Source: FT.com
SEC slated to finalize new transparency rules next spring
July 21, 2017--The US Securities and Exchange Commission is tentatively planning to finalize rules next spring aimed at increasing transparency for alternative trading systems and modernizing disclosure requirements by registered investment companies.
The rules were included in a semiannual agenda of planned regulations that the SEC submitted to the White House...
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Source: mlexfs-core.com
ETF Managers Group Announces Closures Of 2 ETFs
July 21, 2017--ETF Managers Group LLC ("ETFMG") today announced that the Board of Trustees of the ETF Managers Trust has decided to close the PureFunds ISE Big Data ETF (BIGD) and the PureFunds Solactive FinTech ETF (FINQ) based on an ongoing review of market demand.
Effective immediate, BIGD and FINQ will increase their cash holdings in contemplation of liquidation and will no longer accept creation orders.
Trading will be suspended on the NYSE Arca for BIGD and on Nasdaq for FINQ at the closing of the market on July 31, 2017.
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Source: ETF Managers Group (ETFMG)
Thomson Reuters and S-Network Introduce ESG Best Practices Ratings & Indices
July 20, 2017--Rebranding and methodology changes to existing indices reflect market evolution and growth of ESG investing strategies
Responding to changes in the way Thomson Reuters collects ESG data and the growth of socially responsible investing (SRI), Thomson Reuters in partnership with global indices provider S-Network has announced changes to the methodology for the Thomson Reuters Corporate Responsibility Ratings and Indexes, which effective immediately have been rebranded Thomson Reuters/S-Network ESG Best Practices Ratings & Indices.
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Source: Thomson Reuters Lipper
