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'Jumbo' SPY options make debut, but liquidity a concern to some
Options Exchange lists jumbo options on S&P 500 ETF
ISE believes product could potentially harm liquidity
BOX says marketplace to dictate if product is accepted
May 10, 2013--A new 'jumbo' option contract on the popular S&P 500 tracking ETF debuted on the BOX Options Exchange on Friday, but at least one rival has opted not to list the product for now because of concerns it will hurt liquidity in existing options on the fund.
The new product, known as the Jumbo SPY Options, is ten times the size of a traditional options contract on the fund, and is designed for institutional investors who prefer larger-sized contracts when executing their strategies.
Its introduction comes at a time when competing exchanges are trying to innovate and meet the demand of their customers.
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Source: xe.com
CFTC.gov Commitments of Traders Reports Update
May 10, 2013--The current reports for the week of May 10, 2013 are now available.
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Source: CFTC.gov
ALPS Launches Industry's First MLP-Focused Offering for the Annuity Market
New Portfolio to Track Alerian Energy Infrastructure Index
May 9, 2013--ALPS launches the ALPS|Alerian Energy Infrastructure Portfolio as part of the ALPS Variable Investment Trust.
The Portfolio delivers exposure to the Alerian Energy Infrastructure Index, an index developed by Alerian, which is intended to give investors a transparent and intuitive means of tracking the overall performance of the North American Energy Infrastructure sector. The Index is comprised of equity securities of issuers headquartered or incorporated in the United States and Canada such as Master Limited Partnerships (“MLPs”) and limited liability companies taxed as partnerships, MLP affiliates, and Energy Infrastructure Companies.
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Source: ALPS
Invesco PowerShares Expands Fundamental Fixed-Income Line With Emerging Market Local Currency Sovereign Debt Portfolio
May 9, 2013--Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), announced today the launch of the PowerShares Fundamental Emerging Markets Local Debt Portfolio (PFEM) on the NYSE Arca.
PFEM is designed to provide investors fundamentals-weighted exposure to emerging market sovereign debt denominated in local currencies. The Fund has an expense ratio of 0.50% and is expected to issue monthly distributions.
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Source: Invesco PowerShares Capital Management LLC
CFTC's Division of Market Oversight Issues Advisory Providing Guidance to Reporting Markets on How to Submit Block Trade Volume Data
The Division of Market Oversight of the Commodity Futures Trading Commission today issued an Advisory to reporting markets subject to Part 16 of the Commission's
regulations that provides guidance as to how block trade volume data should be reported pursuant to Regulation 16.01 while the Commission transitions to an enhanced data reporting standard.
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Source: AME Info
Morgan Stanley-ETFs Exhibited Net Inflows of $51.7 Billion in 1Q13
May 7, 2013--There were 19 new ETFs listed in the US in the first quarter of 2013. An additional 23 ETFs were launched since the end of the first quarter, bringing year-to-date ETF issuance to 42.
However, there have also been 27 closures/delistings this year, and as of 5/3/13, there were 37 issuers with 1,254 ETFs listed in the US.
Net inflows into US-listed ETFs were $51.7 billion during 1Q13. This is well above the average quarterly rate of net cash inflows over the past three years of $36.1 billion and the largest first quarter flows on record. In addition, this is the third consecutive quarter and the fourth out of the previous five quarters in which ETF net cash inflows exceeded $50 billion.
The largest net cash inflows this past quarter went into International-Developed ETFs. These ETFs had net cash inflows of $13.8 billion this past quarter. Demand for Japanese equities was a key contributor to the strong flows into this market segment. ETFs tracking US sector and industry indices had the next highest net cash inflows this past quarter at $12.3 billion. Within this segment, ETFs providing exposure to real estate and the housing industry were among the ETFs generating the most interest.
Commodity ETFs had the largest net cash outflows in the first quarter of 2013. Net outflows from Commodity ETFs were $7.8 billion. We note that ETFs providing exposure solely to gold had net cash outflows of $8.3 billion with the largest gold ETF accounting for over 93% of those outflows. US ETF industry assets of nearly $1.5 trillion are ~11% higher year to date. Despite the growth of the ETF market, it remains concentrated with three providers and 20 ETFs accounting for almost 81% and 44% of industry assets, respectively.
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Source: Morgan Stanley
US investors increase reliance on ETFs
May 7, 2013--Investors in the US are increasing their use of exchange traded funds as the role of ETFs within investment portfolios continues to expand and broaden, finds a new study by Greenwich Associates, the research consultancy.
ETFs are now used by 18 per cent of US institutional funds (corporate and public pension funds, endowments, and foundations), up from 14 per cent in 2012, according to 970 institutional investors surveyed by Greenwich.
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Source: FT.com
Brazilian pension funds go global
May 7, 2013--As little as a year ago, Brazil's greatest concern was the currency war- a tsunami of international funds that it believed was threatening to inundate its financial markets and those of other emerging countries.
Now, Brazilian real interest rates have fallen so low that, in a dramatic reversal, the country’s own pension funds are looking abroad.
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Source: FT.com
New Records: Dow Ends Above 15000 for First Time; S&P in Bull Market
May 7, 2013--Stocks finished near their best levels Tuesday, with the S&P 500 extending its recent rally to a fresh high and the Dow closing above the 15,000 milestone for the first time.
The Dow Jones Industrial Average rallied 87.31 points, to end at 15,056.20, finishing above 15,000 for the first time, led by Caterpillar and JPMorgan. The index first broke above the milestone on Friday. The blue-chip index also ended higher for the 17th consecutive Tuesday. This is the first time in history that the index has posted such a streak.
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Source: CNBC
ISE ETF Ventures and YieldShares Announce Partnership to Develop and Promote New ISE High Income IndexTM
May 6, 2013--The International Securities Exchange (ISE) today announced a partnership with YieldShares, a new firm created by Christian Magoon , a well-recognized entrepreneur in the ETF industry.
ISE and YieldShares will jointly develop and launch the ISE High Income IndexTM, an index that allows investors to efficiently track a portfolio of high income and high discount Closed-End Funds.
"Partnering with YieldShares to create the ISE High Income Index is a demonstration of ISE's growing presence in the indexing space," said Kris Monaco, Head of ISE ETF Ventures. "This agreement provides YieldShares with the global experience and network of ISE ETF Ventures while leveraging ISE's business development, marketing support and capital to effectively bring products to market. We look forward to growing this partnership with YieldShares and Christian Magoon."
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Source: International Securities Exchange (ISE)
