Americas ETP News
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SEC Announces Enforcement Results For FY 2015
Results Include Significant Number of High-Impact and First-of-their-Kind Actions
October 22, 2015--The Securities and Exchange Commission today announced that in fiscal year 2015, it continued to build a strong record of first-of--heir-kind cases that spanned the spectrum of the securities industry.
In the fiscal year that ended in September, the SEC filed 807 enforcement actions covering a wide range of misconduct, and obtained orders totaling approximately $4.2 billion in disgorgement and penalties.
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Source: SEC.gov
Alternative ETFs still number one for BNY Mellon
October 22, 2015-Alternative and derivatives strategies continue to be the most popular new products in 2015 so far, making up 25 percent of all BNY Mellon's exchange traded funds (ETFs) launched between 1 January and 30 September.
This is a continuation of the trend from 2014, which also saw these strategies making up a quarter of new launches.
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Source: assetservicingtimes.com
CBO-H.R. 1090, Retail Investor Protection Act
October 21, 2015--H.R. 1090 would prohibit the Secretary of Labor from finalizing a regulation related to certain investment advisors until the Securities and Exchange Commission (SEC) issues a final rule setting standards of conduct for brokers and dealers of securities.
The regulation that would be delayed by the bill will define the circumstances under which an individual is considered to be a fiduciary when providing investment advice to employee retirement and other benefit plans and their participants.
Under current law, the SEC is authorized to develop regulations that establish the same standards of conduct for brokers and dealers that are already in place for investment advisors when providing advice to persons who use the information for personal reasons.
view H.R. 1090
Retail Investor Protection Act
Source: Congressional Budget Office (CBO)
Deutsche Bank-United States-Synthetic Equity & Index Strategy-US ETF Market Weekly Review
Equity ETPs capture $5.0bn during
last week
October 20, 2015--Market and Net Cash Flows Review
The US (S&P 500) edged higher by 0.90%; while, outside the US, the MSCI EAFE (in USD) and the MSCI EM (USD) rose by 0.29% and 0.71%, respectively. In the meantime, performance was mostly positive across US sectors. The Utilities (+2.30%) and the Healthcare (+1.92%) recorded the largest increases; while, the Industrials (-1.51%) and the Materials (-0.15%) sectors recorded the only decreases.
The DB Liquid Commodity Index fell by 2.15%; similarly, the Agriculture sector (DB Diversified Agriculture Index) and the WTI Crude Oil fell by 0.26% and 4.78%, respectively; meanwhile, Gold and Silver prices rose by 1.73% and 1.41%, respectively.
Moving into other asset classes, the 10Y US Treasury Yield decreased 8bps ending at 2.04%. Last but not least, Volatility (VIX) dropped by 11.89% during the same period.
The total US ETP flows from all products registered $5.8bn (+0.3% of AUM) of inflows during last week vs. $17.1bn (+0.9%) of inflows the previous week, setting the YTD weekly flows average at +$3.8bn (+$160.9bn YTD in total cash flows). Equity, Fixed Income, and Commodity ETPs experienced flows of +$5.0bn (+0.3%), +$0.5bn (+0.2%), and +$0.3bn (+0.6%) last week vs. +$10.7bn (+0.7%), +$6.2bn (+1.8%), and +$0.1bn (+0.2%) in the previous week, respectively. Among US sectors, Energy (+$0.5bn, +1.4%) and Information Technology (+$0.4bn, +1.1%) received the top inflows, while Materials (-$0.3bn, -3.1%) and Healthcare (-$0.2bn, -0.3%) experienced the largest outflows.
Top 3 ETPs & ETNs by inflows: EZU (+$0.7bn), XLE (+$0.5bn), LQD (+$0.5bn)
Top 3 ETPs & ETNs by outflows: XLF (-$0.5bn), MDY (-$0.4bn), SHY (-$0.3bn)
New Launch Calendar: Cancer Immunotherapy
There was one new ETF listed during the last week. The fund offers thematic exposure to companies that develop therapies to treat cancer, tracking the Loncar Cancer Immunotherapy Index.
Turnover Review: Floor activity decreased by 19.1%
Total weekly turnover decreased by 19.1% to $327.6bn vs. $404.9bn from the previous week. However, last week's turnover level was 1.8% over last year's weekly average. Equity, Fixed Income, and Commodity ETPs turnover decreased by $65.9bn (-18.5%), $11.0bn (-32.5%), and $0.1bn (-0.8%) during the same period, respectively.
Asset under Management (AUM) Review: Assets increased by $16.2bn
US ETP assets rose by $16.2bn (+0.8%) totaling $2.083 trillion at the end of the week. As of last Friday, US ETPs had accumulated an asset growth of +5.2% YTD. Assets for Equity, Fixed Income, and Commodity ETPs moved +$13.9bn, +$1.5bn, and +$0.8bn during last week, respectively.
view report.
Source: Deutsche Bank-Synthetic Equity & Index Strategy-Markets Research-North America-United States-US ETF Market
Bob Dochterman Joins Reality Shares as Executive Vice President
Financial Veteran is Latest Senior Addition to Growing ETF Provider
October 20, 2015--Reality Shares, Inc., which provides institutional strategies for exchange-traded fund (ETF) investors, today announced that financial industry veteran Bob Dochterman has joined the firm as an Executive Vice President.
Dochterman, who has been involved with Reality Shares as an investor, brings more than 25 years of experience in marketing, sales, distribution and business development to the firm.
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Source: Reality Shares, Inc.
CSOP Asset Management Launches its two new Exchange Traded Fund (ETF) products
CSOP MSCI China A International Hedged ETF (Ticker: CNHX) and CSOP China CSI 300 A-H Dynamic ETF (Ticker: HAHA) on NYSE Arca
October 20, 2015--
A pioneering Renminbi ("RMB") hedged ETF to capture the investment opportunity brought by MSCI's inclusion of China A-shares and the first ETF to combine A and H shares into one ETF on the CSI 300.
CSOP Asset Management Limited ("CSOP" or the "Company"), the leading offshore Chinese asset manager with the largest Renminbi Qualified Foreign Institutional Investor ("RQFII") quota, announced that after its debut ETF product CSOP FTSE China A50 ETF (ticker "AFTY"), its two new ETF products in the U.S.-CSOP MSCI China A International Hedged ETF (ticker "CNHX") and CSOP China CSI 300 A-H Dynamic ETF (Ticker "HAHA") will begin trading on NYSE Arca.
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Source: CSOP Asset Management Limited
CBO-Overview of the Debt Limit and Extraordinary Measures
October 19, 2015--The debt limit-commonly referred to as the debt ceiling-is the maximum amount of debt that the Department of the Treasury can issue to the public and to other federal agencies. That amount is set by law and has been increased over the years in order to finance the government's operations.
In March 2015, the debt ceiling was reached, and since then, the Secretary of the Treasury has taken a number of "extraordinary measures," as authorized by law, to borrow additional funds without breaching the debt ceiling.
view Overview of the Debt Limit and Extraordinary Measures
Source: Congressional Budget Office (CBO)
SEC Staff Publishes Private Funds Statistics Report
October 16, 2015--The Securities and Exchange Commission staff today published a report that provides private fund industry statistics and trends, reflecting aggregated data reported by private fund advisers on Form ADV and Form PF.
Most of the data in the more than 50 separate tables and figures is being made public for the first time.
view the SEC Staff Report: Private Funds Statistics
Source: SEC.gov
Federal Debt and the Statutory Limit, October 2015
October 14, 2015--If the debt limit remains unchanged, CBO projects, the Treasury's cash balance will be entirely depleted sometime in the first half of November, at which time the government would be unable to fully pay its obligations.
view the Federal Debt and the Statutory Limit, October 2015
Source: Source: Congressional Budget Office (CBO)
CFTC Further Implements Trade Execution Requirement
October 14, 2015--The U.S. Commodity Futures Trading Commission's (CFTC or Commission) Division of Market Oversight (Division) announced today further extension of time-limited no-action relief for swaps executed as
part of a package transaction in the categories, that currently receive relief under CFTC Letter 14-13
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Source: CFTC.gov
