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NASDAQ OMX Commemorates Six Months of Ownership of the NASDAQ Dividend Achievers Indexes
Nearly Thirty-Five Percent Growth in Assets Benchmarked to the Indexes Highlights Demand for Income-Generating Investment Products
July 2, 2013-- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today commemorates the six-month anniversary of the ownership of the NASDAQ Dividend and Income Index Family, which has seen assets under management (AUM) on products linked to the Family increase 34.7 percent, to $19.0 billion from $14.1 billion, since it was acquired from Mergent, Inc. in December 2012 and subsequently expanded with two additional indexes.
Assets benchmarked to the NASDAQ Dividend and Income Index Family reached an all-time high of $19.4 billion on June 18, 2013 since NASDAQ OMX purchased the suite of indexes in December 2012.
With the acquisition of the Dividend Achievers, NASDAQ OMX Global Indexes has catapulted into one of the largest providers of dividend indexes in the world, based on benchmarked assets.
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Source: NASDAQ OMX
Federal Reserve Board approves final rule to help ensure banks maintain strong capital positions
July 2, 2013-- The Federal Reserve Board on Tuesday approved a final rule to help ensure banks maintain strong capital positions that will enable them to continue lending to creditworthy households and businesses even after unforeseen losses and during severe economic downturns.
The final rule minimizes burden on smaller, less complex financial institutions.; It establishes an integrated regulatory capital framework that addresses shortcomings in capital requirements, particularly for larger, internationally active banking organizations, that became apparent during the recent financial crisis. The rule will implement in the United States the Basel III regulatory capital reforms from the Basel Committee on Banking Supervision and certain changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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Source: Federal Reserve Board
CME Group Volume Averaged 16.9 Million Contracts per Day in June 2013, Up 29 Percent from June 2012
Interest rate average daily volume up 70 percent in June
Record metals average daily volume up 27 percent in second quarter
Record foreign exchange average daily volume up 13 percent in second quarter
Energy open interest record set in both WTI and Brent futures during June
OTC cleared interest rate swaps of $66 billion per day in June, up 64 percent from May
July 2, 2013--CME Group, the world's leading and most diverse derivatives marketplace, today announced that June 2013 volume averaged 16.9 million contracts per day, up 29 percent compared with June 2012, and up 15 percent sequentially.
Total volume for June 2013 was more than 339 million contracts, of which 86 percent was traded electronically.
CME Group interest rate volume averaged 8.6 million contracts per day in June, up 70 percent from June 2012, and the highest monthly average daily volume since January 2008. Treasury futures volume averaged 3.3 million contracts per day, up 42 percent compared with the same period a year ago.
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Source: Wall Street Journal
Horizons ETFs Launches Advanced Technical Analysis Tools for ETFs
Canadian ETF provider becomes the first to offer ETF investors with access to Recognia(R) Technical Insight with advanced Elliot Wave analytics
July 2, 2013--Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") is proud to announce that it will offer Recognia Technical Insight
with Elliott Wave analytics to its clients across Canada, which have been developed by Recognia Inc., a leader in North America in providing technical analysis for retail investment brokers.
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Source: Horizons ETFs Management (Canada) Inc.
Fed Adopts Final Rule On Basel III Bank Capital
July 2, 2013--The U.S. Federal Reserve on Tuesday laid out plans for future U.S. bank reforms that go beyond an international agreement, ahead of a board vote to adopt the base Basel III capital rules in the United States.
Daniel Tarullo, the Fed board member in charge of financial supervision, said bank regulators are working on four new rules for the country's biggest banks in the coming months.
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Source: Fox News
Introducing Winklevoss Bitcoin Shares (If you can't have Facebook )
July 2, 2013--Remember the Winklevoss twins-collectively known as the Winklevii-of Facebook fame?
If not, here’s a quick recap: Cameron and Tyler Winklevoss accused Mark Zuckerberg of taking their idea and making it into what’s now Facebook when they were students at Harvard. Made famous in the movie The Social Network, they settled a lawsuit and walked away with tens of millions. Then they pumped millions into Bitcoin, the virtual currency, buying about $11-million (U.S.) worth, according to what they told The New York Times.
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Source: Globe and Mail
BMO Financial Group's ETF Business Celebrates Fourth Anniversary, Surpasses $11 Billion in Assets Under Management
BMO ETFs led Canadian ETF industry in growth in 2011 and 2012; its line-up currently consists of 55 ETFs designed to address key investor needs-BMO Financial Group is now a leading provider of ETFs listed in U.S. dollars in Canada; offerings allow investors more choice in how they access different asset classes-BMO Asset Management Inc. recently launched seven innovative new ETFs designed to help investors construct their portfolios more effectively
July 2, 2013--BMO Financial Group today announced that its Exchange Traded Funds (ETF) business marked its fourth anniversary by surpassing $11 billion Cdn in assets under management (AUM).
First introduced in 2009, BMO Financial Group's ETF business-under BMO Asset Management Inc. (BMO AM)-has grown to 55 funds and includes several industry firsts.
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Source: Market Watch
Emerging Global Advisors Selects FTSE for the First Emerging Markets Dividend Growth ETF
July 1, 2013--FTSE Group ("FTSE") has been selected by Emerging Global Advisors, the asset management company specializing exclusively in emerging market ETFs, as the index provider for its EGShares Emerging Markets Dividend Growth ETF (EMDG) which listed today on NYSE Arca.
EGShares EMDG is the first US-listed ETF focused on providing dividend growth exposure in emerging markets.
The ETF tracks the FTSE Emerging All Cap ex Taiwan Diversified Capped Dividend Growth 50 Index (EMGD). This capped, market capitalisation weighted index represents the performance of 50 emerging market companies with a high compounded annual dividend growth rate and recognises the increasing number of emerging market companies that pay dividends.
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Source: FTSE
Morgan Stanley-US ETF Weekly Update
July 1, 2013--Weekly Flows: $3.2 Billion Net Inflows
2Q13 Flows: $15.6 Billion Net Inflows
ETF Assets Stand at $1.4 Trillion, up 6% YTD
Nine ETF Launches Last Week
Vanguard Completes Benchmark Transitions
Van Eck Announces Reverse Share Splits on Seven ETFs
US-Listed ETFs: Estimated Flows by Market Segment
ETFs posted net inflows of $3.2 bln last week, the first net inflows in six weeks - Net inflows were led by US Sector & Industry ETFs ($2.0 bln), while net outflows were driven by Commodity ETFs ($1.1 bln) - Fixed Income ETFs have posted net outflows for seven consecutive weeks, totaling $10.0 bln; within the Fixed Income ETF category we have seen investors flock to short duration/floating rate ETFs - ETF assets stand at $1.4 tln, up 6% YTD; $69.4 bln net inflows YTD
13-week flows remain mostly positive among asset classes; combined $15.6 bln in net inflows - International-Developed Equity ETFs have generated net inflows of $8.9 bln over the last 13 weeks, the most of any category we measured; specifically, the two largest Japan ETFs (EWJ, DXJ) accounted for $7.7 bln of the net inflows - Commodity ETFs have posted net outflows of $14.3 bln over the last 13 weeks; in particular, one ETF, the SPDR Gold Trust (GLD), has exhibited net outflows of $11.6 bln over this period (GLD accounts for 57% of Commodity market cap)
US-Listed ETFs: Estimated Largest Flows by Individual ETF
The iShares Dow Jones US Real Estate Index Fund (IYR) posted net inflows of $747 mln, the most of any ETF
The iShares MSCI Emerging Markets Index Fund (EEM) bounced back last week, generating net inflows of $723 mln; despite the
strong week, EEM has posted net outflows of $6.9 bln over the last 13 weeks, the second most of any ETF
The WisdomTree Japan Hedged Equity Fund (DXJ) posted another strong week of net inflows ($439 mln); DXJ has taken in $4.2
bln in net new money over the last 13 weeks, the most of any ETF
Fixed Income flows have recently stumbled; specifically, the iShares Barclays TIPS Bond Fund (TIP) has exhibited $3.3 bln in net
outflows over the last 13 weeks, the most of any Fixed Income ETF
US-Listed ETFs: Short Interest Data Updated: Based on data as of 6/14/13
iShares MSCI Emerging Markets Index Fund (EEM) had the largest increase in USD short interest at $2.4 bln
EEM’s shares short are at their highest level of all time
Notably, the 26.8 mln shares short on the iShares FTSE EPRA/NAREIT Developed Real Estate ex-US Index Fund (IFGL) are also
at an all-time high
Aggregate ETF USD short interest increased by $8.7 bln over the period ended 6/14/13
The average shares short/shares outstanding for ETFs is currently 4.9%
The CurrencyShares Euro Trust (FXE) continues to be one of the most heavily shorted ETFs as a % of shares outstanding;
interestingly, over the past year, FXE has actually posted a 2.4% market price return
Based on multiple borrowings and the ability to continuously create new shares, shares short as a % of shares outstanding can
exceed 100% (only six ETFs exhibited shares short as a % of shares outstanding greater than 100%)
US-Listed ETFs: Most Successful Recent Launches by Assets
Source: Bloomberg, Morgan Stanley Wealth Management ETF Research. Data estimated as of 6/28/13 based on daily change in share counts and daily NAVs.
$7.4 bln in total market cap of ETFs less than 1-year old
ETFs launched over the past year exhibit a median market cap of only $12 mln
Newly launched International Equity ETFs account for 42% of recently launched market cap and make up 43% of net inflows of
recently launched ETFs over the last 13 weeks
Issuance has been light in 2013 relative to the same period last year; 64 new ETF listings and 30 closures/delistings YTD vs. 110
new ETF listings and 17 closures over the same period in 2012
The top 10 most successful launches make up 66% of the market cap of ETFs launched over the past year
Seven ETF sponsors and two asset classes represented in top 10 most successful launches; seven have an income orientation
Last week, the PowerShares S&P 500 High Dividend Portfolio (SPHD) returned to the top 10 most successful launches list over
the past year; SPHD owns stocks that historically have provided high dividend yields and low volatility
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Source: Morgan Stanley
Mirae's Horizons scaling US ETF fortress
July 1, 2013--After growing to $7bn in assets under management in Canada and Asia, the exchange traded fund arm of Mirae Asset Global Investments has turned its attention to growing south of the Canadian border.
Horizons ETFs Management rolled out its first US product last week, ahead of plans to break into the Latin American market with a Colombia-domiciled ETF. These new markets are key to its belief that it can double to triple ETF assets under management in the next three to five years.
