Americas ETP News
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Would-be exchange IEX says it gave SEC 90 extra days to decide its fate
December 18, 2015--IEX Group, the upstart stock trading venue featured in the Michael Lewis book "Flash Boys: A Wall Street Revolt," on Friday said it granted regulators an extra three months to decide whether to approve its application to become a registered exchange.
The U.S. Securities and Exchange Commission was due to make a decision the status of IEX, which operates as an alternative trading system, on Dec. 21, 90 days after the company,submitted its application to the regulator, or to declare it needs more time to do so.
CFTC.gov Commitments of Traders Reports Update
December 18, 2015--The current reports for the week of December 15, 2015 are now available.
view updates
Source: CFTC.gov
SEC Issues Staff Report on Accredited Investor Definition
December 18, 2015The Securities and Exchange Commission today issued a staff report on the accredited investor definition. The Dodd-Frank Wall Street Reform and Consumer Protection Act directs the Commission to review the accredited investor definition as it relates to natural persons every four years to determine whether the definition should be modified or adjusted.
Staff from the Divisions of Corporation Finance and Economic and Risk Analysis prepared the report in connection with the first review of the definition.
view the SEC Report on the Review of the Definition of "Accredited Investor"
Source: SEC.gov
MIG-Life After Liftoff
December 18, 2015--What happened this week?
The Fed's "apologetic increase" played out precisely as we expected
Market response was also in line with what we had written before the FOMC meeting
What are the key takeaways from this week's FOMC statement?
Inflation remains the primary focus of the FOMC going forward
They will be highly attuned to how much inflation actually materializes
The FOMC formalized its bias for a slow and gradual pace of future increases
What do investors need to know?
A slow and gradual pace is a bias-not a commitment
Actual inflation will drive the Fed's pace of rate increases
Our base case is for four rate increases in 2016- but after a lengthy pause
The next rate increase will be in June with three more in 2016
With inflation gaining momentum we expect there to be up to seven rate hikes in 2017
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Source: MIG (Macro Insight Group)
NSX Is Approved by the SEC to Re-Launch Trading Operations
December 18, 2015--On December 14, 2015, the Securities and Exchange Commission ("SEC") issued an order granting NSX final approval to re-launch and resume operations for equity and ETF trading.
Accordingly, NSX has given notice to its clients (ETP Holders) that NSX will re-launch trading operations based on a phased roll-out schedule beginning on Tuesday, December 22nd and completing the roll-out on Thursday, December 31st.
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Source: NSX ( National Stock Exchange, Inc.)
Horizons ETFs Announces Closure of ETFs
December 18, 2015--Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro Management Inc. (the "Manager") announced today that they will be terminating the Horizons Active Diversified Income ETF
(the "ETF") effective at the close of business on Friday, February 26, 2016 (the "Termination Date").
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Source: Horizonsetfs.com
State Street Global Advisors Launches North American Natural Resources ETF
December 18, 2015--State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE:STT), announced that the SPDR S&P North American Natural Resources ETF (NANR) began trading on the NYSE Arca on December 16, 2015.
NANR is designed to meet demand for natural resources equity exposure by providing access to companies in the energy, materials and agriculture industries. NANR provides investors with an approach that weights the sub-sectors of the portfolio 45 percent energy, 35 percent materials and 20 percent agriculture stocks.
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Source: State Street Corporation
New bills aim to stop DOL fiduciary rule
Legislation introduced Friday would quash a Labor Department proposal to strengthen investment advice standards for retirement accounts
December 18, 2015--
Bipartisan lawmakers introduced bills Friday that would stop a Labor Department proposal to strengthen investment advice rules for retirement accounts and replace it with a standard written by the legislators.
The bills would require financial advisers working with 401(k) and individual retirement accounts to act in their clients' best interests and disclose their compensation and potential conflicts of interest.
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Source: investmentnews.com
First Trust Announces Name Changes for First Trust NASDAQ CEA Smartphone Index Fund and First Trust NASDAQ CEA Cybersecurity ETF
December 18, 2015--First Trust Advisors L.P. ("First Trust") announced today that two First Trust Index ETFs are changing their names effective Monday, December 21, 2015.
First Trust NASDAQ CEA Smartphone Index Fund ("Smartphone Fund") (NASDAQ: FONE) is changing its name to First Trust NASDAQ Smartphone Index Fund, and First Trust NASDAQ CEA Cybersecurity ETF ("Cybersecurity Fund") (NASDAQ: CIBR) is changing its name to First Trust, NASDAQ Cybersecurity ETF. The Funds' ticker symbols and CUSIPS are not changing.
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Source: First Trust
CFTC Staff Issues Advisory Reminding Swap Dealers and Major Swap Participants of their Reporting Obligations as Required by Commission Regulations
December 17, 2015--The U.S. Commodity Futures Trading Commission's (Commission) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a staff advisory to remind swap dealers and major swap participants of their swap data reporting obligations under Commission Regulations 23.204 and 23.205.
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Source: CFTC.gov
