Americas ETP News
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NYSE says it would take over Nasdaq stock quote system
January 15, 2014--NYSE Euronext offered on Wednesday to take over the data processor at the center of the massive Nasdaq trading outage last August after Nasdaq OMX Group Inc (NDAQ.O) indicated it would stop running it.
NYSE Euronext "would be happy to" run the Nasdaq securities information processor (SIP) that provides investors with stock quotes and last sale prices, Duncan Niederauer, chief executive of NYSE Euronext, told CNBC on Wednesday.
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Source: Rueters
RBC Global Asset Management Inc. Launches Four New ETF
January 15, 2014--RBC Global Asset Management Inc. (RBC GAM) today announced the launch of four new Exchange Traded Funds (ETFs) specifically designed to meet investors' demand for investments generating regular monthly income.
The new RBC Quant Dividend Leaders ETFs and RBC 1-5 Year Laddered Corporate Bond ETF are now available for purchase by advisors, individual and institutional investors on the Toronto Stock Exchange (TSX).
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Source: RBC Global Asset Management
FRB-Beige Book
January 15, 2014--Summary
Reports from the twelve Federal Reserve Districts suggest economic activity continued to expand across most regions and sectors from late November through the end of the year. Nine Districts indicated the local economy was expanding at a moderate pace; among these, the Atlanta and Chicago Districts saw conditions improve compared with the previous reporting period.
Boston and Philadelphia cited modest growth, while Kansas City reported the economy held steady in December. The economic outlook is positive in most Districts, with some reports citing expectations of "more of the same" and some expecting a pickup in growth.view the Beige Book January 2014
Source: FRB
Fed eyes fresh measures to restrict banks' commodities trading
January 14, 2014-The Federal Reserve cited recent disasters, including the BP oil spill in the Gulf of Mexico in 2010, as it sought comment on whether it should further limit banks in their physical commodities businesses.
The regulator said on Tuesday it was examining whether to impose capital charges and increase insurance requirements on banks to restrict further their trading of physical commodities.
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Source: FT.com
Toroso(TM) -Point Of View-Alternative To What?
January 14, 2014--The world of alternative investing has experienced massive expansion in the past few years through new mutual funds and Exchange-Traded Products (ETPs). Until now, this is a part of the investment universe that has been relatively opaque and inaccessible to the average investor, as evidenced by the above excerpt from Investopedia website.
However, recent Morningstar data suggests that the alternative mutual fund landscape now accounts for about $1 trillion dollars, mostly in tactical allocation funds, risk parity funds, and funds using futures and long/short strategies, which is quite different from the landscape of alternative Exchange-Traded Products (ETPs), which is a mere $8.1 billion and heavily dominated by volatility-focused products. In this commentary, Toroso will try to define the alternative ETP landscape and conclude with one method of using...
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Source: Toroso
Deutsche Bank lowers fees on China A-shares ETF
A week after a second ETF entered the Chinese A-share exchange-traded fund market, Deutsche Bank is cutting fees.
January 14, 2014--On Monday, Deutsche's db-X-trackers Harvest CSI 300 China A-Shares Fund (ASHR) reduced its expense ratio from 1.08% to 0.82%.
This follows last week's launch of a nearly identical ETF from Van Eck Associates, the Market Vectors ChinaAMC A-Share ETF (PEK), which has an expense ratio of 0.72%
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Source: Investment News
Worried Fed seeks to curb Wall Street banks commodity trade
January 14, 2014--The U.S. Federal Reserve on Tuesday took a first formal step toward restricting the role of Wall Street banks in trading physical commodities, citing fears that a multibillion-dollar disaster could bring down a bank and imperil the stability of the financial system.
The Fed board voted to publish its concerns and potential remedies following months of growing public and political pressure to check banks' decade-long expansion into the commodities supply chain. The Fed also questioned the initial rationale for allowing them to trade and invest in risky raw materials and lease oil tanks or own power plants.
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Source: Chicago Tribune
Market Vectors Launches SHYD -Short High-Yield Municipal Index ETF
New fund tracks an index focused on high-yield municipal bonds with 1 to 10 years to maturity; joins HYD, Market Vectors' all-maturity solution, in focusing on the high-yield municipal bond market
January 14, 2014--Market Vectors ETFs today announced the launch of its newest exchange-traded fund (ETF), Market Vectors(R) Short High-Yield Municipal Index ETF (NYSE Arca: SHYD).
This fund is the latest addition to Market Vectors' robust family of municipal income-focused exchange-traded funds and the first ETF to track an index that provides targeted exposure solely to the shorter end of the municipal yield curve.
SHYD seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Barclays Municipal High Yield Short Duration Index (ticker: BMHYTR), a market size weighted index composed of publicly traded municipal bonds that cover the U.S. dollar-denominated high yield short-term tax exempt bond market.
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Source: Van Eck
Agencies Approve Interim Final Rule Authorizing Retention of Interests in and Sponsorship of Collateralized Debt Obligations Backed Primarily by Bank-Issued Trust Preferred Securities
January 14, 2014--Five federal agencies on Tuesday approved an interim final rule to permit banking entities to retain interests in certain collateralized debt obligations backed primarily by trust preferred securities (TruPS CDOs) from the investment prohibitions of section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, known as the Volcker rule.
Under the interim final rule, the agencies permit the retention of an interest in or sponsorship of covered funds by banking entities if the following qualifications are met:
the TruPS CDO was established, and the interest was issued, before May 19, 2010;
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Source: FBR
Agencies Approve Interim Final Rule Authorizing Retention of Interests in and Sponsorship of Collateralized Debt Obligations Backed Primarily by Bank-Issued Trust Preferred Securities
January 14, 2014--Five federal agencies on Tuesday approved an interim final rule to permit banking entities to retain interests in certain collateralized debt obligations backed primarily by trust preferred securities (TruPS CDOs) from the investment prohibitions of section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act,
known as the Volcker rule.
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Source: CFTC.gov
