Americas ETP News
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ISE ETF Ventures Partners with BlueStar Indexes
Jointly Developed BlueStar Israeli Global Index is the Basis for a new ETF
June 27, 2013--The International Securities Exchange (ISE) announced today the launch of their partnership with BlueStar Indexes to develop a family of indexes and use them as the basis for exchange traded products (ETPs) and other index-linked vehicles.
The BlueStar Israel Global Index (ticker: BLS), the first index developed through the partnership, provides a comprehensive benchmark for investors to track Israeli and Israeli-linked public companies and serves as the basis for the Market Vectors® Israel ETF (NYSEArca: ISRA®). Such well-known Israeli companies as Teva Pharmaceutical Industries (TASE: TEVA), Perrigo Co. (NDAQ: PRGO), Checkpoint (Nasdaq: CHKP), Amdocs (NYSE: DOX) and Mellanox (Nasdaq: MLNX) are included in the index.
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Source: International Securities Exchange (ISE)
BM&FBOVESPA and Chi-X Global Certify Chi-FX
June 26, 2013--Chi-X(R) Global Holdings LLC today announced that BM&FBOVESPA S.A., Bolsa de Valores, Mercadorias'e Futuros has completed the formal acceptance of its Chi-FX(TM) platform for commercial use.
Chi-FX powers BM&FBOVESPA's BEI (Brazil Easy Investing).
BEI will allow registered Brazilian brokers to provide retail and institutional investors based outside of Brazil quotes of Brazilian exchange-listed stocks in their local currency. By leveraging the Chi-FX technology, BEI integrates market data from BM&FBOVESPA stock quotes with FX rates offered by Brazilian banks.
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Source: BM&FBOVESPA
Bond funds see record outflows in June: TrimTabs
June 26, 2013--Investors pulled a record $61.7 billion from bond mutual funds and exchange-traded funds in the period through June 24, data from TrimTabs Investment Research showed Wednesday.
That beats the previous record outflows of $41.8 billion pulled from funds in October 2008. Investors have put $1.21 trillion into those funds between 2009 and 2012 as the bond markets rallied. But outflows in June come as bond prices have fallen, pushing yields higher, on the potential that the Federal Reserve could begin winding down its bond-purchase program.
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Source: MarketWatch
S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices
A Deletion From The S&P/TSX Composite Index
June 26, 2013--S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
BCE Inc. (TSX:BCE) has announced that all necessary approvals have been received to close its acquisition of Astral Media Inc. (TSX:ACM.A).
Astral Media Non-Voting Class A shareholders will receive $CDN50.00 cash for each share held. Astral Media will be removed from the S&P/TSX Composite, Capped Composite and Composite Equal Weight, the S&P/TSX Completion and the S&P/TSX Capped Consumer Discretionary Indices after the close of trading on Monday, July 8, 2013.
Source: S&P Dow Jones Canadian Index Services
Schwab Study Shows Appetite for Advice on the Rise Among Affluent
June 26, 2013--According to a new study from Schwab, seven in 10 affluent investors feel today's financial markets are too complicated to navigate without an advisor.
One-third of study participants also say their desire for investment advice has increased in the past year, and three-quarters say they are most confident making investment decisions when they collaborate with their investment professional; just one-third say they feel that same level of confidence when making investment decisions by themselves.
Advice and the Affluent Investor: A Study of Attitudes and Behavior by Charles Schwab (AAIS) surveyed more than 1,000 affluent Americans who receive some form of professional financial advice.
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Source: Wall Street Journal
Direxion Launches Japan-Focused Leveraged and Inverse ETFs
Both Bull and Bear Investors can Benefit from Japanese Equity Market Performance
June 26, 2013-- Direxion, a leader in alternative investment solutions, has launched two leveraged exchange-traded funds (ETFs) that track Japanese equity market performance.
The Direxion Daily Japan Bull 3X Shares (JPNL) seeks to generate daily investment results, before fees and expenses, of 300% of the performance of the MSCI Daily TR Net Japan USD Index. The Direxion Daily Japan Bear 3X Shares (JPNS) attempts to achieve daily investment results, before fees and expenses, of 300% of the inverse of the MSCI Daily TR Net Japan USD Index’s performance. The index is tied to the MSCI Japan Index, a free-float adjusted index designed to track the performance of Japanese company stocks listed on the Tokyo Stock Exchange, Osaka Stock Exchange, Nagoya Stock Exchange and JASDAQ.
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Source: Direxion
Market Vectors(R) Launches Israel ETF (ISRA)
Latest addition to Market Vectors' international ETF family provides
pure-play exposure to the Israeli equity market
June 26, 2013-- Market Vectors ETF Trust announced today that it has launched the Market Vectors Israel-traded fund (ETF) designed to provide investors with broad exposure to Israel's dynamic equity market.
"Israel is uniquely positioned to offer investors emerging market growth characteristics with a developed market approach to economic management," said Amrita Bagaria, ETF Product Manager with Market Vectors. "The country has a vibrant economy with broad sector representation. With that in mind, we have selected an index for ISRA that best represents the Israeli market and captures the full spectrum of economic growth potential."
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Source: Van Eck
Knight Capital Group and GETCO Announce Approvals of Merger at Respective Special Meetings
Regulatory approvals of merger received from FINRA and FCA
Currently scheduled closing date of July 1, 2013
Preliminary results of Knight stockholder cash/stock election
June 26, 2013--Knight Capital Group, Inc. (NYSE Euronext: KCG) ("Knight") and GETCO Holding Company, LLC ("GETCO") announced that at the special meetings held yesterday, the companies' respective stockholders and unitholders approved the adoption of the merger agreement dated as of December 19, 2012 and amended and restated as of April 15, 2013 among KCG Holdings, Inc. ("KCG") (formerly known as Knight Holdco, Inc.), Knight, GETCO, and the other parties thereto.
In addition, regulatory approvals required under the merger agreement were received from the Financial Industry Regulatory Authority (FINRA) and the UK's Financial Conduct Authority (FCA). The transaction, which remains subject to customary closing conditions, is currently scheduled to close on Monday, July 1, 2013.
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Source: Knight Capital Group
Horizons ETFs announces closure of ETF
June 25, 2013--Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. (the "Manager") announced today that they will be terminating the Horizons S&P/TSX 60 130/30(TM) Index ETF (the "Terminated ETF") effective at the close of business on Monday, August 26, 2013 (the "Termination Date").
The classes of the ETF being terminated are as follows:
Horizons S&P/TSX 60 130/30™ Index ETF
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Source: Horizons ETFs Management (Canada) Inc
DB-Synthetic Equity & Index Strategy-North America-US ETF Weekly Review-Market sell-off removed $48bn from US ETP assets
June 25, 2013--Global markets went on free fall following Bernanke's comments suggesting QE tapering. The US (S&P 500) fell by 2.11%; While, outside the US, the MSCI EAFE (in USD) and the MSCI EM (USD) dropped by 3.75% and 5.46%, respectively.
Moving on to other asset classes, the 10Y US Treasury Yield rose by 38 bps last week; while the DB Liquid Commodity Index was down by 3.29%. Similarly, the Agriculture sector (DB Diversified Agriculture Index), the WTI Crude Oil, Gold and Silver prices retreated by 0.24%, 4.25%, 6.78% and 8.91%, respectively. Last but not least, Volatility (VIX) rose by 10.2% during the same period.
The total US ETP flows from all products registered $4.22bn (-0.3% of AUM) of outflows during last week vs. $0.57bn (-0.0%) of outflows the previous week, setting the YTD weekly flows average at +$2.7bn (+$68.15bn YTD in total cash flows).
Equity, Fixed Income, and Commodity ETPs experienced flows of -$2.37bn(-0.21%), -$1.4bn (-0.53%) and -$0.62bn (-0.78%) last week vs. +$1.37bn (0.12%), -$1.69bn (-0.63%) and -$0.19bn (-0.24%) in the previous week, respectively.
Among US sectors, Consumer Discretionary (+$0.32bn, +3.6%) and Energy (+$0.14bn, +1.0%) received the top inflows, while Consumer Staples(-$0.60bn, -6.6%) and Utilities (-$0.44bn, -5.5%) experienced the largest outflows.
Top 3 ETPs & ETNs by inflows: XLF (+$0.5bn), EWZ (+$0.4bn), QQQ (+$0.4bn)
Top 3 ETPs & ETNs by outflows: SPY (-$2.6bn), VWO (-$1.3bn), IWM (-$0.9bn)
New Launch Calendar: high income, global short-term HY and Colombia
There were 3 new ETFs listed during last week on the NYSE Arca. The new products offer access to income, global short-term high yield bonds and the Colombian equity market.
Turnover Review: Floor activity rose by 30.5%
Total weekly turnover increased by 30.5% to $451.62bn vs. $346.01bn from the previous week; Furthermore, last week's turnover level was 67.5% over last year's weekly average. Equity, Fixed Income and Commodity ETPs turnover increased by $93.4bn (+30.7%), $5.2bn (+17.7%) and $6.6bn (+83.2%) during the same period, respectively.
Assets under Management (AUM) Review: assets dropped by 3.3%
Last week’s market sell-off removed $47.7bn (-3.3%) from US ETP assets. As of last Friday, US ETPs had accumulated an asset growth of 5.7% YTD. Assets for Equity, Fixed Income and Commodity ETPs moved -$36.2bn, -$6.0bn,-$5.6bn during last week, respectively.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy - North America
