Americas ETP News
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Federal Reserve Board approves interim final rule on treatment of uninsured U.S. branches and agencies of foreign banks under section 716 of Dodd-Frank
June 5, 2013--The Federal Reserve Board on Wednesday approved an interim final rule clarifying the treatment of uninsured U.S. branches and agencies of foreign banks under the so-called swaps push-out provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Section 716 of Dodd-Frank generally prohibits the provision of certain types of federal assistance, such as discount window lending and deposit insurance, to swaps entities. The provisions of section 716 become effective on July 16, 2013.
view the Prohibition Against Federal Assistance to Swaps Entities (Regulation KK)
Source: FRB
Fed Grants Foreign Banks Leeway in Dodd-Frank Swap Rule
June 5, 2013--Foreign-based banks won leeway in Dodd-Frank Act requirements to separate swaps trading from their U.S. branches under a Federal Reserve policy released yesterday.
The central bank said in an interim final rule that the banks will be eligible to apply for a transition period of 24 months in rules taking effect July 16. The Institute of International Bankers, a lobbying group representing Credit Suisse Group AG (CSGN) and Deutsche Bank AG (DBK) among others, urged the Fed to grant foreign banks the same phase-in process U.S. banks like JPMorgan Chase & Co. (JPM) received earlier this year
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Source: Bloomberg
AltaVista-Sector SPDR Analyzer + Equal Sector Weight ETF (EQL)-June 2013
June 5, 2013--This month's Select Sector SPDR and Equal Sector Weight ETF Analyzer reports are ready for download.
view the Select Sector SPDR funds June 2013 report
view the ALPS Equal Sector Weight ETF (EQL)report
Source:AltaVista Research
ProShares files to launch ETFs backed by credit default swaps
June 5, 2013--ProShares has filed with the Securities and Exchange Commission to launch a number of exchange-traded funds backed by credit default swaps, as new regulations for the privately traded contracts reduce some of their risks and open the market to new types of investors.
Derivatives markets are adapting to new regulations designed to reduce the risks these contracts pose to the financial system after their opacity, high concentration among the world's largest banks and lack of collateral pledged against the trades were cited as key factors behind the 2007-2009 financial crisis.
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Source: Yahoo Finance
TMX Group Consolidated Trading Statistics-May 2013
Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha, Montreal Exchange, NGX Montreal Exchange Achieves Two Monthly Trading Volume Records
June 4, 2013--TMX Group Limited today announced May 2013 trading statistics for its diversified group of exchanges-Toronto Stock Exchange, TSX Venture Exchange, Montreal Exchange (MX), Natural Gas Exchange (NGX), TMX Select and Alpha.
Trading volume on Toronto Stock Exchange in May 2013 increased 1% compared to April 2013 and increased about 1% year-over-year. Volume on TSX Venture Exchange decreased 9% from April 2013 and decreased 17% compared to May 2012. TMX Select trading volume experienced a decrease of 4% from the previous month, but increased 19% compared to the same month last year. Alpha trading volume for May 2013 decreased 38% compared to the previous month and was down 49% compared to the same month a year earlier.
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Source: TMX Group
Stock Exchanges Seek Curbs on Dark Pools to Fight Exodus
June 4, 2013--Three large U.S. stock exchanges are lobbying for new limits on dark pools and other competitors, arguing that too much trading has become hidden on private venues that create more cost and volatility in public markets.
Chief executive officers of NYSE Euronext (NYX) Inc., Nasdaq OMX Group Inc (NDAQ). and Bats Global Markets Inc (BATS). have met in Washington over the past two months with lawmakers and the Securities and Exchange Commission. They’ve asked for a rule that could divert more orders to exchanges rather than trading in dark pools or within a broker’s inventory.
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Source: Bloomberg Businessweek
New Barron's 400SM ETF (BFOR) On The Market
Funds Seeks Results Corresponding to Underlying Index of 400 Stocks, ALPS Announces.
June 4, 2013--The Barron's 400SM ETF (NYSE Arca: BFOR) launched today under the ALPS ETF Trust, based on the Barron's 400 IndexSM, a rules-based index intended to give investors a means of tracking the overall performance of a collection of companies with strong fundamentals based on a methodology jointly developed by Barron's and MarketGrader.com.
“All index components are selected on the basis of their fundamental strength,” said Carlos Diez, President of MarketGrader.com. “The Barron's 400 IndexSM is built from the ‘bottom-up’ using a methodology that is quite different from most traditional market benchmarks.”
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Source: ALPS
Market Vectors Emerging Markets Local Currency Bond ETF Awarded Second-Highest Rating from NAIC
Rating allows EMLC to receive favorable risk-based capital treatment when added to portfolios of state regulated insurance companies
June 4, 2013--Market Vectors(R) Emerging Markets Local Currency Bond ETF (NYSE Arca: EMLC) has received a risk-based capital designation of "2" from the Securities Valuation Office (SVO) of the National Association of Insurance Commissioners (NAIC), it was announced today.
SVO ratings range from 1 to 6, with 1 being highest available.
The Market Vectors Emerging Markets Local Currency Bond ETF (EMLC) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the J.P. Morgan GBI-EMG Core Index (GBIEMCOR). The underlying Index provides exposure to local currency bonds issued by emerging market governments. As such, the Fund is subject to the risks of investing in emerging market debt securities.
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Source: Van Eck Securities
CME Group Volume Averaged 14.7 Million Contracts per Day in May 2013, Up 11 Percent from May 2012, Marking Highest Month since August 2011
All-time daily volume record of 26.9 million contracts traded on May 29
Record monthly Treasury futures and options volume up 42 percent
Monthly average daily volume records achieved for futures and options on 30-year Treasury Bonds, 10-year Treasury Notes and 5-year Treasury Notes
Interest rate volume up 31 percent
June 4, 2013--CME Group, the world's leading and most diverse derivatives marketplace, today announced that May 2013 volume averaged 14.7 million contracts per day, up 11 percent compared with May 2012, and up 27 percent sequentially.
Total volume for May 2013 was more than 324 million contracts, of which 88 percent was traded electronically.
In May, CME Group interest rate volume averaged 7.8 million contracts per day, up 31 percent from May 2012, and the highest monthly average daily volume since August 2011.
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Source: CME Group
DB-Synthetic Equity & Index Strategy-North America-US ETF Trade Alert-Long Gold vs. Short JPY & AUD
June 4, 2013--Implementing the Commodity Research weekly trade idea
Using ETPs to gain access to non-USD gold exposures
Long Gold in USD Short JPY & AUD
While our Commodity Research colleagues maintain a bearish view for Gold denominated in USD, they believe that a long exposure to Gold denominated in Japanese Yen and Australian dollar is expected to perform strongly on the back of "Abenomics" and expected weakness in the bulk commodity sector affecting the iron and coal Australian exporting industries.
ETP Trade: Long GLD short FXY & FXA
We believe that a combination of ETPs can offer an efficient way to gain access to gold denominated in JPY or AUD. More specifically, we recommend a long position in GLD to gain access to physical gold in USD and equally weighted short positions in FXY and FXA to achieve the exposure to gold in Japanese yen and Australian dollar.
< href="mailto:sebastian.mercado@db.com">request report
Source: Deutsche Bank-Synthetic Equity & Index Strategy-North America
