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PowerShares alumnus' start-up riding ETF evolution
January 20, 2014--Exchange traded funds are at the centre of Ben Fulton's Elkhorn Investments, but the former Invesco PowerShares ETF chief says the firm does not plan to be tied down to one product.
This month, the firm applied for relief from the Securities and Exchange Commission to launch actively managed and affiliated-index ETFs.
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Source: FT.com
Ready-made platforms seek ETF take-up
January 20, 2014--Specialist companies that help firms set up exchange-traded funds have become an increasing presence in an ETF industry that has been dominated by big brands.
From just two main players three years ago, there are now more than half a dozen so-called white-labelling providers in the US, the most recent being ETF Issuer Solutions, which launched in November.
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Source: Financial News
'Don't hollow out financial transactions tax', says EU tax chief
January 18, 2014-- The European Union's top tax official has called on member countries not to dilute proposals for a financial transactions tax in the euro zone, suggesting the bloc could instead implement the plan more gradually.
Algirdas Semeta, the European Commissioner for tax affairs, told Austrian paper Der Standard he thought a deal was possible in the first half of this year even though some countries wanted to exempt sovereign bonds, interbank securities repurchase deals and pension fund transactions from the levy.
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Source: Reuters
CFTC Reopens Comment Period for Concept Release on Risk Controls and System Safeguards for Automated Trading Environments
January 17, 2014--The U.S. Commodity Futures Trading Commission (CFTC) announced today that it will reopen the comment period for its Concept Release on Risk Controls and System Safeguards for Automated Trading Environments (Concept Release).
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Source: CFTC.gov
CFTC.gov Commitments of Traders Reports Update
January 17, 2014-The current reports for the week of January 14, 2014 are now available.
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Source: CFTC.gov
Morningstar Market Commentary Q42013
Equities close a record 2013 on a high note as the Fed prepares stimulus tapering
January 17, 2014--The year 2013 for stocks proved to be one for the
record books as equity markets continued to soar to new heights in the fourth quarter.
Despite December's announcement from the Federal Reserve that economic stimulus would begin to be
reduced, there was nothing that could stop the yearlong rally in U.S. equities as several market
indicators closed at or near all-time highs.
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Source: Morningstar
USCF Advisers LLC files with the SEC
January 17, 2013--USCF Advisers LLC has filed a registration statement with the SEC for the Stock Split Index Fund.
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Source: SEC.gov
Treasury International Capital Data for November
January 16, 2014--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for November 2013. The next release, which will report on data for December 2013, is scheduled for February 18, 2014.
The sum total in November of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC outflow of $16.6 billion. Of this, net foreign private outflows were $30.5 billion, and net foreign official inflows were $13.9 billion.
Foreign residents decreased their holdings of long-term U.S. securities in November; net sales were $11.4 billion. Net sales by private foreign investors were $21.5 billion, while net purchases by foreign official institutions were $10.2 billion.
U.S. residents increased their holdings of long-term foreign securities, with net purchases of $17.9 billion.
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Source: US Department of the Treasury
CFTC.gov Swaps Report Update
January 15, 2014--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
BNY Mellon launches SMA platform
Service will enhance discretionary portfolio offerings
January 15, 2014--US-BASED BNY Mellon is rolling out a separately managed account (SMA) platform that it hopes to market to private banks.
A separately managed account is a portfolio of securities managed on a discretionary basis. One of the big differences from unit trusts is that the investor directly customises the portfolio assets, such as stocks and bonds. Another is that investors get full transparency of holdings.
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Source: BT Premium
