Americas ETP News
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Minutes of the Federal Open Market Committee January 26-27, 2016
February 17, 2016--The Federal Reserve Board and the Federal Open Market Committee released the attached minutes of the Committee meeting held on January 26-27, 2016.
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Source: federalreserve.gov
ISE Mercury Completes Successful Launch
February 17, 2016-The International Securities Exchange Holdings, Inc. (ISE Holdings) today announced that ISE MercuryTM, ISE Holdings' third options exchange, launched successfully yesterday.
ISE Mercury launched with twelve symbols that were selected as the first of four phases of product rollouts. The rollout schedule, which initially includes more than 600 of the most actively-traded options products, is available here.
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Source: International Securities Exchange Holdings, Inc. (ISE Holdings)
The Janus Equal Risk Weighted Large Cap ETF Portfolio Liquidates
February 16, 2016--Effective at the close of business on February 17, 2016, the Janus Equal Risk Weighted Large Cap ETF (NASDAQ: ERW) portfolio was liquidated and will no longer be tracking its Index, the Janus Equal Risk Weighted Large Cap Index.
As a result of the liquidation, the NAV now represents a 100% cash position and an intraday portfolio value will no longer be calculated or disseminated.
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Source: Janus Equal Risk Weighted Large Cap ETF
ETF Trading Commentary-Oil ETPs -Why Now?
February 16, 2016--Month-to-date (MTD) net cash flows into U.S.-listed oil Exchange Traded Products (ETPs) have been substantial as the front-month WTI futures contract price has bumped off of a 15-year low of just over $26.
Two products (both ETNs) from VelocityShares have seen massive turnover this month. UWTI, the 3x leveraged crude ETN has taken in $545 million in net new cash while DWTI, the 3x inverse leveraged crude ETN, has had $710 million flow out of the fund.1 The MTD net effect of these two products’ turnover in combination with the other major oil ETPs is a cash INFLOW into long WTI contracts valued at approximately $1.84 billion, which is around 63,600 contracts based on the current price of the March contract.2 To be clear, this inflow is not invested entirely in front-month contracts; some is spread across the futures curve and invested out as far as 12 months.
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Source: Macquarie Securities Group
Treasury International Capital Data For December
February 16, 2016--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for December 2015. The next release, which will report on data for January 2016, is scheduled for March 15, 2016.
The sum total in December of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC outflow of $114.0 billion.
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Source: treasury.gov
Purpose Investments Announces It Has Become Manager and Trustee of Silver Bullion Trust
February 12, 2016--Purpose Investments Inc. ("Purpose"), is pleased to announced it has become the manager and trustee of Silver Bullion Trust ("SBT") following unitholder approval on January 26, 2016 of certain amendments to SBT's Amended and Restated Declaration of Trust (the "DOT").
The approved amendments of the DOT enable SBT to convert into an exchange traded fund ("ETF Conversion").
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Source: Purpose Investments Inc
State Street Global Advisors Announces Changes to the SPDR® DB International Government Inflation-Protected Bond ETF
February 12, 2016--State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT), today announced changes to the name and index of the SPDR DB International Government Inflation-Protected Bond ETF.
Effective February 12, 2016, the fund was renamed the SPDR Citi International Government Inflation-Protected Bond ETF and began tracking the Citi International Inflation-Linked Securities Select Index.
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Source: State Street Global Advisors
Treasury Investors Smile and Dial as 62% of Trades Done by Phone
February 12, 2016--N.Y. Fed releases study of typical April 2014 trading day
Wall Street still dominates even as electronic firms gain
Investors in the world's biggest debt market still use the phone to do most of their trading, a practice that's nearing extinction in areas like currencies.
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Source: Bloomberg
Exchanges warn against giving brokers power over key decisions
February 11, 2016--Exchanges including the New York Stock Exchange and Nasdaq have written to lawmakers arguing against giving brokers and investors power over key decisions affecting the US equities market.
At issue are the rules and operation of areas such as dissemination of consolidated quote and trade information via Securities Information Processors, or SIP, and safeguards for investors against market stress known as limit up/limit down price bands.
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Source: FT.com
CBOE Releases Study On Russell 2000 Options-Based Benchmark Indexes
February 11, 2016--Compares Performance of Six Options-Based Benchmarks with Traditional Stock and Bond Indexes
First Comprehensive Study to Examine Strategy Benchmarks Incorporating Russell 2000 Index Options
The Chicago Board Options Exchange® (CBOE(R)) today announced the release of a new study that examines six benchmark indexes that invest in Russell 2000(R) Index (RUT) options and compares their performances with those of traditional benchmark stock and bond indexes.
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Source: CBOE
