Americas ETP News
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VelocityShares(R) Announces Launch of VelocityShares Equal Risk Weighted Large Cap ETF
July 31, 2013--VelocityShares LLC, developer of exchange traded products (ETPs) for sophisticated investors, announced today the launch of the VelocityShares Equal Risk Weighed Large Cap ETF ("ERW").
Equal risk weighting is an innovative and academically rigorous alternative to both traditional market cap weighted indices and overly simplistic "low volatility" indices.
"Investors are interested in low volatility equity portfolios, and equal risk weighting represents an important step forward as a means of intelligently allocating to low volatility stocks," said Nick Cherney, Chief Investment Officer and Co-founder of VelocityShares. “ERW is a further example of our commitment to delivering sophisticated investment instruments to the exchange traded market.'
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Source: Exchange Traded Concepts
Invest n Retire Adds Access to Wolverine Execution Services Into INR's Patented Record Keeping Software for Defined Contribution Plans and Separately Managed Accounts
July 30, 2013--Wolverine Execution Services (WEX), a leading provider of value added trade execution services, and Invest n Retire, LLC (INR), an innovative developer of patented technology solutions for defined contribution (DC) plans and separately managed accounts (SMAs), today announced connectivity to WEX's agency broker services directly from the INR platform.
As a result of this partnership, clients can now electronically route orders for execution directly to WEX via the INR platform and receive fill information back into the INR system. Orders received by WEX are executed using proprietary trading logic and technology when determining the best method of and venue for execution.,p.,z href="http://www.investnretire.com/Documents/INRWEXPR.pdf" TARGET="_top">view more
Source: Invest n Retire
SEC examines trading rules as commodity crack-down heats up
July 30, 2013--The top U.S. securities regulator said on Tuesday she was examining insider trading rules for commodities, further stepping up scrutiny of Wall Street's role in trading anything from oil to metals.
The move comes after JPMorgan Chase & Co - under pressure from regulators - said last week it would exit physical commodities trading, and as Europe is drastically stepping up its rules for commodity trading.
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Source: Reuters
State Street Report Takes the Pulse of Buy-Side Firms Mandated to Clear OTC Derivatives
State Street's SwapExSM Files Registration with the CFTC to Become a Multi-Asset Swap Execution Facility
July 30, 2013--Buy-side firms are unprepared for new trading mechanisms, costs and increased complexity and should partner with established providers to adapt to an evolved OTC derivatives marketplace, according to research commissioned by State Street Corporation (NYSE: STT).
The new research paper, “From Readiness to Revolution: The Implementation and Impact of Derivatives Clearing Regulatory Reform,” provides insight into preparations for swap execution facilities (SEFs), central clearing, collateral management and reporting.
State Street, which operates as a futures clearing merchant (FCM) and a SEF, commissioned the research with Aite group which surveyed buy-side firms that collectively represent more than $6 trillion in assets under management. The research highlights developments across the entire trade life-cycle and includes a roadmap to readiness for Category III firms - those firms that have yet to complete the Commodity Futures Trading Commission’s (CFTC) phased implementation of derivatives clearing.
view the report-From Readiness to Revolution: The Implementation and Impact of Derivatives Clearing Regulatory Reform
Source: State Street Corporation
Home Prices Continue to Increase in May 2013, According to the S&P/Case-Shiller Home Price Indices
July 30, 2013--Data through May 2013, released today by S&P Dow Jones Indices for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, showed increases
of 2.5% and 2.4% for the 10- and 20-City Composites in May versus April.
Dallas and Denver reached record levels surpassing their pre-financial crisis peaks set in June 2007 and August 2006.
This is the first time any city has made a new all-time high.
The 10- and 20-City Composites annual returns rose slightly from April to May as they posted the best year-over-year gains since March 2006. All 20 cities increased from May 2012 to May 2013 and from April 2013 to May 2013.
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Source: S&P Dow Jones Indices
Most ETNs are overpriced, study claims
July 30, 2013--Research claims to show that market prices of most ETNs do not accurately reflect their risks and that the notes should trade at greater discounts
Most exchange-traded notes (ETNs) are overpriced, according to a study of 17 such notes that traded on US exchanges between 2002 and 2011.
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Source: Risk.net
Aggressive, Knowledgeable and Wealthy Investors Find Exchange Traded Funds Attractive Alternative to Mutual Funds
July 30, 2013--High Net Worth (HNW) investors and investors who are knowledgeable about their investment choices are purchasing Exchange Traded Funds at a higher rate than other investors, according to Exchange Traded Funds Investing by the HNW, a 2013 Spectrem Group Perspective.
Exchange Traded Funds are attractive to investors as a way to diversify their portfolio, and because they have lower fees and expenses. The Spectrem Group report details how investors view ETFs, why they are purchasing them, and how they are compared to more traditional investments such as mutual funds.
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Source: Spectrem Group
CFTC's Division of Market Oversight Issues Time-Limited No-Action Relief from the Prohibition of Aggregation Under (section) 43.6(h)(6) for Large Notional Off-Facility Swaps
July 30, 2013--The Commodity Futures Trading Commission's ("CFTC") Division of Market Oversight ("Division") today issued a letter providing no-action relief from the aggregation prohibition
in § 43.6(h)(6) for certain commodity trading advisors (“CTA”) and investment advisors (“IA”) with respect to large notional off-facility swaps until 11:59 p.m. Eastern time on October 1, 2013.
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Source: CFTC.gov
CBOE to add VIX trading hours in September, after delay
July 29, 2013--July 29, 2013--CBOE Holdings Inc said on Monday it will expand trading hours for futures on the CBOE Volatility Index in late September, after a technical glitch delayed the change.
CBOE, operator of the Chicago Board Options Exchange, is aiming to increase overseas trading of its lucrative VIX futures by adding 5 hours and 45 minutes to the trading day in two stages. The biggest chunk of extra time will come during European trading hours.
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Source: Reuters
ISE Gemini Set to Launch on August 5, 2013
SEC Approves ISE's Form 1 Application for ISE Gemini(TM)
July 29, 2013--
The International Securities Exchange (ISE) announced that the SEC has approved its Form 1 application for ISE GeminiTM, ISE's second options exchange that will complement its existing market.
Set to launch on August 5, 2013, ISE Gemini will ramp up over several weeks, beginning with a small number of symbols and eventually trading all of the most active options classes.
"The launch of ISE Gemini on August 5 will be the culmination of a great deal of hard work by the ISE team to deliver this important initiative,” said Boris Ilyevsky, Managing Director of ISE’s options exchanges. “We are operationally ready for the launch and in the final stages of working with our members to trade on ISE Gemini. We are excited to offer our members a new pricing structure through ISE Gemini with the same technology and market structure that are hallmarks of ISE.”
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Source: International Securities Exchange (ISE)
