Americas ETP News
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S&P Dow Jones Indices-Latin America Index Dashboard
March 31, 2015--Latin American equities ended the quarter in the red. The S&P Latin America BMI and the S&P MILA Andean 40 declined 10% and 9%, respectively. Brazil and Colombia were the weakest performers, ending the quarter down 16% and 19%, respectively. Health Care was the weakest sectoral performer, declining 25%.
Globally, developed markets had a strong quarter, gaining 4%, while emerging markets were up 2%. Japan had an extraordinary quarter, as the S&P TOPIX 150 gained 11%. Large-cap U.S. equities encountered significant turbulence in the first quarter. The S&P 500® ended the quarter up 1%, while the Dow Jones Industrial Average(R) was relatively flat.
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Source: S&P Dow Jones Indices
S&P Dow Jones Indices-Canada Index Dashboard
March 31, 2015--Canadian equities ended the first quarter of 2015 in the black, with the S&P/TSX Composite and the S&P/TSX 60 gaining 3% and 2%, respectively.
The strongest performing sector of the S&P/TSX Composite was Health Care by a wide margin (45%). Energy was the weakest performer, down 1%.
Large-cap U.S. equities encountered significant turbulence in the first quarter. The S&P 500(R) ended the quarter up 1%, while the Dow Jones Industrial Average(R) was relatively flat.
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Source: S&P Dow Jones Indices
Victory Capital Announces Plans to Launch NextShares(TM)Exchange-Traded Managed Funds
March 31, 2015--Victory Capital today announced that it has entered into a preliminary agreement with Navigate Fund Solutions LLC ("Navigate"), a subsidiary of Eaton Vance Corp., to support the launch of a family of NextShares(TM) exchange-traded managed funds.
"NextShares are a natural extension of our multi-boutique investment model," said David Brown, Chairman and Chief Executive Officer of Victory Capital. "Our goal is to deliver best-in-class investment solutions managed by autonomous investment franchises and NextShares will enable us to provide our clients with an actively managed vehicle that features lower costs and greater tax efficiencies."
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Source: Victory Capital
Some NYSE Arca ETFs briefly halted; issue resolved
March 31, 2015--Some exchange-traded funds on the New York Stock Exchange's Arca system were briefly halted on Tuesday morning due to technical issues.
The halt started around 10:36 a.m. ET and lasted about 10 minutes. The quote dissemination issue affected tickers starting with letters U through Z.
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Source: CNBC
SSgA picks ex-Fidelity funds chief as CEO
March 31, 2015--State Street Global Advisors has tapped the former asset management chief at Fidelity Investments as its new president and chief executive, replacing Scott Powers who will retire after seven years.
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Source: Financial News
Scott Powers to Retire from SSGA in 2015
Industry Veteran Ronald P. O'Hanley is named President and CEO
March 31, 2015--State Street Corporation (NYSE: STT) announced today that Scott Powers (age 56), president and chief executive officer of State Street Global Advisors, intends to retire later this year after more than seven years leading the firm and three decades in the investment management industry.
Ronald (Ron) O'Hanley (age 58) will succeed Powers at the beginning of April. He and Powers will work together over the next several months to ensure a smooth transition of responsibilities. O'Hanley will report to Jay Hooley, chairman and chief executive officer of State Street, and will join the company's Management Committee, its senior-most strategy and policy-making team.
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Source: State Street Corporation
Sprott Junior Gold Miners ETF Launches on NYSE
March 31, 2015--Sprott Asset Management LP ("Sprott") is pleased to announce the launch of the Sprott Junior Gold Miners Exchange Traded Fund ("the ETF") on the New York Stock Exchange (NYSE: SGDJ).
The ETF was created in partnership with ALPS Advisors Inc.("ALPS") and Zacks Index Services.
The goal of the ETF is to provide exposure to the Sprott Zacks Junior Gold Miners Index (NYSE: ZAXSGDJ), which seeks to outperform a passive, market-capitalization representation of junior gold stocks.
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Source: Sprott Asset Management LP
Research Paper-Do High Frequency Traders Need to be Regulated? Evidence from Algorithmic Trading on Macro News
March 30, 2015--Abstract
Stock index ETF and futures prices respond to macroeconomic announcement surprises within a tenth of a second, with trading intensity increasing ten-fold in the quarter second following the news release. Trading profits, however, are relatively small and decline in recent years.
We find no evidence that the controversial practice of selling early access to macro news produces incremental profits. Our findings suggest that algorithmic traders operate in a highly competitive environment. Consistent with this view, we find event profits are decreasing in quote intensity. Order flow also becomes less informative over time as quotes respond to news directly rather than indirectly through trading.
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Source: Goizueta Business School, Emory University
Yieldcos: For Energy Investors Seeking Dividends
March 30, 2015--Yieldcos: For Renewable Energy Investors Who Love Dividends
Have you heard of Yieldcos?
This popular new option on the stock market is a win-win: it allows people to earn income from operating renewable energy plants, while giving developers access to capital for future projects.
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Source: Nasdaq.com
Horizons ETFs announces closure of certain ETFs
March 30, 2015--Horizons ETFs Management (Canada) Inc. ("Horizons ETFs" or the "Manager") announced today that it will be terminating certain exchange traded funds ("ETFs") effective at the close of business on Friday, June 12, 2015
(the "Termination Date"). The ETFs being terminated (collectively, the "Terminated ETFs") are as follows:
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Source: Horizons ETFs Management
