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CFTC.gov Commitments of Traders Reports Update
January 6, 2014--The current reports for the week of December 31, 2013 are now available.
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Source: CFTC.gov
Bond ETFs Grabbed Money Last Year Even as Bond Mutual Funds Suffered
January 6, 2014--A down year for the bond market drove investors from traditional bond mutual funds, but money kept flowing into bond exchange-traded funds.
Old-fashioned fixed income mutual funds saw withdrawals of $85.4 billion in 2013, while fixed-income ETFs took in $27.5 billion, according to data released Monday from asset manager BlackRock Inc.
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Source: Wall Street Journal
Invesco Could Shine in 2014
January 4, 2014--The money manager is poised to shine in 2014 due to strong asset growth and savvy acquisitions. Rich opportunities, cheap shares.
Invesco, the Atlanta-based money manager, ended 2013 on a high note, with analysts estimating net inflows of $36 billion, an annual record. If markets cooperate, another good year could lie ahead, which could mean additional gains for investors.
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Source: Barron's
In with the new: Unusual ETFs in 2014
January 4, 2014-- After a stellar run in 2013, you may be wondering how it can get even sweeter than a nearly 30 percent annual return, which is what you would have gained holding the SPDR S&P 500 ETF (SPY) last year.
One advantage of ETFs is that, because most are pegged to indexes and not actively managed, their low costs can be passed on to you, the investor. The expense ratio for the SPY, for example, is 0.09 percent; that's 90 cents for every $1,000 invested.
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Source: CNBC.com
Vanguard's growing dominance: Morningstar
January 3, 2013--Vanguard Group, Malvern, estimates it brought in a net $138 billion into its mutual funds, ETFs and money market funds for 2013, "just shy of our record 2012 cash flow of $141 billion," spokesman John Woerth tells me.
Add it all up, and Vanguard, with more than $2 trillion in clients' funds, has boosted its market share in the funds industry to 18%, more than double where it was in the early 1990s and far ahead of former industry leaders Fidelity (of Boston) and California-based American Funds,"both of which have lost market share over the past five years," writes fund-watcher Morningstar's Michael Rawson here. Vanguard has also been growing more rapidly than its main ETF rival, iShares.
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Source: Philly.com
Pimco's Bill Gross suffers tough 2013
January 3, 2014--The flagship bond fund run by Pimco's Bill Gross last year suffered its worst annual performance in almost two decades,
while equity funds focusing on smaller companies were buoyed by signs of a western economic recovery.
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Source: FT.com
One Last Note to CFTC Staff
Statement of Chairman Gary Gensler: One Last Note to CFTC Staff, January 3, 2014.
January 3, 2014--Dear Colleagues,
I want to thank all of you for welcoming me into the CFTC family these last five years.
Five years ago, when the President was formulating his financial reform proposals, he placed tremendous confidence in this small agency, which for eight decades had overseen the futures market.
Based on your incredible work, the agency now oversees a transformed swaps market.
I have worked with some remarkable people in my career -when on Wall Street, at the Treasury Department, and on political campaigns.
BMO Asset Management Inc. Announces That Changes to BMO 2013 Corporate Bond Target Maturity ETF Are Now in Effect
In addition to the above, BMO AM confirms that the following changes (collectively, the "Changes") are effective as of close of business today:
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CFTC Staff Issues Extension to Time-Limited No-Action Letter on the Applicability of Transaction-Level Requirements in Certain Cross-Border Situations view more International Securities Exchange Reports Business Activity for December and Full Year 2013
Average daily volume for full year 2013 for ISE was 2.4 million contracts, making it the second largest U.S. equity options exchange with market share of 16.6%*. Since launching on August 5, 2013, ISE Gemini reported an ADV of 308,000, with steady month-over-month increases in ADV and market share. Total combined volume for both exchanges was 638.8 million contracts for the full year. view more
Source: CFTC.gov
January 3, 2014--BMO Asset Management Inc. ("BMO AM") today announced that, effective as of close of business today, BMO 2013 Corporate Bond Target Maturity ETF ("ZXA") is continuing its operations as an exchange traded short-term bond fund as originally provided for in its prospectus.
This enables investors to continue to hold their existing units as well as provides the opportunity for investors to purchase and sell units at their discretion instead of at a set termination date.
The name of ZXA is now BMO Ultra Short-Term Bond ETF ("ZST");
The ticker symbol is ZST;
Source: BMO Financial Group
January 3, 2014--Today, the U.S. Commodity Futures Trading Commission's (CFTC or Commission) Divisions of Swap Dealer and Intermediary Oversight (DSIO), Clearing and Risk, and Market Oversight (collectively Divisions) issued a time-limited no-action letter that extends relief to swap dealers (SDs) registered
with the Commission that are established under the laws of jurisdictions other than the United States (Non-U.S. SDs) from certain transaction-level requirements under the Commodity Exchange Act.
Source: CFTC.gov
January 2, 2014--ISE and ISE Gemini(TM) combined represented 18.3% of equity options market share, excluding dividend trades, for the month of December.
ISE was the second largest equity options exchange for the full year 2013.
Since launch on August 5, 2013, ISE Gemini reported an equity options market share of 2.2%, excluding dividend trades, with an ADV of 308,000 contracts.
Dividend trades made up 2.7% of industry volume in 2013.
The International Securities Exchange (ISE) today reported a combined average daily volume (ADV) of 2.4 million contracts in December 2013 for its two exchanges, ISE and ISE Gemini. This represents 18.3% of U.S. equity options market share.
Source: ISE (International Securities Exchange)
