Americas ETP News
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Do retainers beat AUM-based fees under fiduciary rule?
September 7, 2016--New paper makes the case for advisers to charge clients flat fees versus fees based on assets given the approaching DOL regulation.
The Labor Department's best-interests rule for retirement advice is poised to move more financial advisers toward providing counsel for a fee as opposed to accruing commissions. But the best method for how to charge fees is now under debate.
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Source: investmentnews.com
MainStay Hires Ken Bossen for ETFs With Hedge Fund Approach
September 6, 2016--He will work with portfolio-construction teams for IndexIQ
Bossen joins from State Street, reports to John Lloyd
New York Life Insurance Co.'s MainStay Investments hired Ken Bossen to help build the exchange-traded fund operation that seeks to mimic hedge fund strategies.
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Source: Bloomberg
AdvisorShares-This Week in Active ETFs: September is off the Table!
September 6, 2016--For the week of August 29-September 02
Macro-September is off the Table!That was the conclusion by some after the August jobs data which showed a not too hot, not too cold 151,000 jobs created
last month versus an expectation of 180,000.
This was the first report in several months that was not shockingly low or
shockingly high. The headline unemployment remained at 4.9%, which was also a slight miss.
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Source: AdvisorShares
BM&FBOVESPA becomes first exchange to join R3 distributed ledger consortium
September 6, 2016--São Paulo based financial exchange BM&FBOVESPA announced today it will be collaborating with over 60 of the world's largest financial institutions to develop ground-breaking commercial applications for the financial services industry that leverage the appropriate elements of distributed and shared ledger technology.
This initiative is part of the company's strategy of supporting transformative projects that focus on trading infrastructure enhancements, always seeking new alternatives that meet your clients' needs.
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Source: leaprate.com
U.S. regulators allow BlackRock funds to lend to one another
September 6, 2016--BlackRock Inc (BLK.N) portfolio managers will be allowed to borrow from their peers if they are pressed for money to cash out clients, U.S. Securities and Exchange Commission officials said in a notice on Tuesday
Mutual funds and money-market funds offered by the world's largest asset manager could borrow up to a third of their assets in total-or up to 10 percent of assets without posting collateral-through BlackRock's "InterFund Program."
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Source: Reuters
Time to Worry: Stocks and Bonds Are Moving Together
September 6, 2016--Share prices and bond yields moved in the same direction in just 11 of the past 30 trading days, close to the lowest since the start of 2007
Wall Street traders and fund managers returning from the summer break are likely to focus on the obvious: a series of central-bank meetings in coming weeks and the imminent U.S. election.
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Source: Wall Street Journal
CME Group says average daily volume to date in 2016 up 9 pct
September 2, 2016--CME Group reached average daily volume of 13.8 million contracts per day in August 2016; average daily volume to date in 2016 up 9 percent
Says total open interest was 105 million contracts at end of August, up 15 percent from year-end 2015
Says foreign exchange volume averaged 632,000 contracts per day in August 2016, down 29 percent from August 2015
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Source: CME Group Inc
AltaVista-September 2016 ETF Analyzer--Sector SPDR Edition
September 2, 2016--The AltaVista-September 2016 ETF Analyzer--Sector SPDR Edition is now available.
view the Sector SPDR Analyzer
view the Alps Equal Sector Weight ETF
Source: AltaVista Research
CFTC.gov Commitments of Traders Reports Update
September 2, 2016--The current reports for the week of August 30, 2016 are now available.
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Source: CFTC.gov
Advisers have a fiduciary duty to put robust business continuity plans in place
September 2, 2016--As fiduciaries, advisers have twin duties of loyalty and care to their clients
Last year, the North American Securities Administrators Association-the organization representing state securities regulators-adopted a model rule to require state-registered investment advisers to establish business continuity and succession plans in the event of a natural disaster, cyberattack or other business disruption such as the death of the owner of a sole proprietorship.
