Americas ETP News
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Horizons ETFs Announces ETF Closures
March 1, 2013--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate Horizons ETFs Management ( Canada ) Inc. (the "Manager") announced today that they will be terminating certain exchange traded funds ("ETFs") effective at the close of business on Friday, May 31, 2013 (the "Termination Date").
The ETFs being terminated (collectively, the "Terminated ETFs") are as follows:
ETF: Horizons BetaPro US Dollar Bull Plus ETF
Ticker: HDU
Horizons BetaPro US Dollar Bear Plus ETF
Ticker: HDD
Effective immediately, no further direct subscriptions for units of the Terminated ETFs will be accepted.
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Source: Horizons Exchange Traded Funds
Vanguard Readies Emerging Markets Bond ETF in Q2
March 1, 2013--Vanguard is expanding its family of bond offerings with plans to introduce a Vanguard Emerging Markets Government Bond Index Fund and its ETF Shares by the end of the second quarter of 2013.
"Our research shows that emerging markets bonds have presented low correlations with domestic and developed market bonds, and have the potential to add value for certain risk-tolerant investors holding an otherwise broadly diversified portfolio," said Vanguard CEO Bill McNabb. "Nevertheless, we do caution investors against simply investing on the basis of the higher yields offered by emerging markets bonds, as the higher yields are accompanied by higher risks, including greater volatility and higher correlation to equity markets, as well as political risk."
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Source: Fox Business
CFTC.gov Commitments of Traders Reports Update
March 1, 2013--The current reports for the week of February 26, 2013 are now available.
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Source: CFTC.gov
ISE Reports it is The Largest Equity Options Exchange in February 2013
ISE was the largest equity options exchange in February with market share of 18.1%, excluding
dividend trades.
Dividend trades made up 4.4% of industry volume in February 2013.
March 1, 2013--The International Securities Exchange (ISE) today reported average daily volume of 2.7 million contracts
in February 2013.
This represents an increase of 1.3% compared to February 2012. Total options volume for the month was 51.5 million contracts. ISE was the largest U.S. equity options exchange in February
with market share of 18.1%*.
Business highlights for the month of February include:
On February 6, ISE and IndexIQ announced their partnership agreement to support and promote new exchange traded products (ETPs) focusing on physical commodities.
On February 15, ISE announced that it received the "Most Innovative Exchange Technology-Options" award at the Wall Street Letter 2013Institutional Trading Awards.
On February 21, ISE announced that Hauke Stars, Chief Information Officer of Deutsche Borse AG, was elected to ISE's Board of Directors.
For the month of February, Implied Order functionality accounted for 7.3% of all non-crossing, multi-legged contract volume executed on ISE.
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Source: International Securities Exchange (ISE)
DB-Synthetic Equity & Index Strategy-North America-US ETF Model Portfolios-Diversified Momentum Portfolio Update
March 1, 2013--Diversified Momentum Update as of February 28th, 2013
Flat month for our DMP, Global Sectors offset by the other asset classes.
Market Performance
The US equity market (SPY) recorded another positive month following January's rally. The broad US Fixed Income market (BND) was up by 0.34%; while the Commodity market (DBC) retreated by 4.71% during the same period.
Model Portfolio Performance
Our Diversified Momentum Portfolio (DMP) was flat in February. In the meantime, the equity market and our multi asset class benchmark were mixed with the market up by 1.28% and the benchmark slightly down (-0.20%).
Portfolio Updates and New Membership
All sub-portfolios experienced some degree of turnover, with the overall DMP changing over half of its positions. In terms of portfolio weights, the asset class weights remained the same. Currencies continue to be the top allocation with 40%, followed by Global Sectors, Treasuries, and Commodities with 30%, 20%, and 10%, respectively.
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Source: Deutsche Bank - Synthetic Equity & Index Strategy - North America
ISE Names Chief Technology Officer
March 1, 2013--The International Securities Exchange (ISE) announced today that Rob Cornish has been appointed Chief Technology Officer (CTO).
“ISE is pleased to appoint Rob Cornish to the position of Chief Technology Officer,” said Gary Katz, President and Chief Executive Officer of ISE. “Rob’s leadership and guidance have played a key role in the development of our technology strategy. This CTO appointment recognizes that, as well as his significant accomplishments and contributions to ISE’s technology innovation.”
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Source: International Securities Exchange (ISE)
SEC Seeks Information to Assess Standards of Conduct and Other Obligations of Broker-Dealers and Investment Advisers
March 1, 2013-- The Securities and Exchange Commission today published a request for data and other information to assist the agency in considering whether to make new rules about the standards of conduct and regulatory obligations for broker-dealers and investment advisers when they provide personalized investment advice about securities to retail customers.
“Studies have shown that few investors realize that the standard of care they receive depends on the type of investment professional they use. And often investors do not know which type of financial professional they are relying on,” said SEC Chairman Elisse B. Walter. “This request for information will help us in our ongoing consideration of alternative standards of conduct for certain broker-dealers and investment advisers, as well as potential harmonization of other aspects of regulation in this area.”
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Source: SEC.gov
Van Eck Unconstrained Emerging Markets Bond Fund Passes $100 Million AUM in Six Months
Actively managed fund is able to invest across markets, currencies, credits and maturities
March 1, 2013--Assets under management in Van Eck's recently introduced Unconstrained Emerging Markets Bond Fund (Advisor-EMBAX; Institutional-(EMBUX) reached $100 million just six months after launch and now stand at $130 million.
The Fund, an actively managed, unconstrained emerging market bond mutual fund, is among the first funds mandated to invest in both local currency and hard currency denominated bonds, as well as government, quasi-government and corporate fixed income instruments.
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Source: Van Eck Global
ALPS Launches US Equity High Volatility Put Write Index Fund
February 28, 2013--A DST Company announced today the launch of the U.S. Equity High Volatility Put Write Index Fund (NYSE Arca: HVPW).
The Fund seeks investment results that correspond generally to the performance, before the Fundfs fees and expenses, of an index called the NYSE Arca U.S. Equity High Volatility
Put Write Index. The Index reflects the performance of a portfolio of exchange-traded put options on highly volatile stocks.
The ALPS HVPW Fund is designed for investors who seek to obtain income through selling put options, selling 60 day listed put options every 2 months (6 times per year) on 20 stocks. The Fund intends to distribute, at the end of each 60]day period out of net investment income and/or short]term capital gains, an amount of cash equal to 1.5% of the Fundfs net assets at the end of such 60]day period. If the Fundfs net investment income is insufficient to support a 1.5% distribution in any 60]day period, the distribution will be reduced by the amount of the shortfall. Also note while the Fund only intends to make such distributions out of net investment income and/or short]term capital gains, it is possible that in certain circumstances, a portion of a distribution may result in a return of capital (which is a return of the shareholderfs investment in the Fund).
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Source: ALPS
Horizons ETFs announces proposed change to the investment objective of the Horizons Active Advantage Yield ETF
February 28, 2013--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. (the "Manager") hereby announce that a special meeting (the "Meeting") of unitholders of the Horizons Active Advantage Yield ETF ("HAF") has been called to consider and, if advisable, pass a resolution to approve a change to the investment objective of HAF.
The Special Meeting will be held in Toronto at the office of the Manager, 26 Wellington Street East, Suite 604, Toronto, Ontario on March 27, 2013 at 11:00 a.m. Toronto time.
The Manager is seeking approval from the HAF unitholders to change the investment objective of HAF so that it instead seeks to provide unitholders with: (i) a stable stream of tax-efficient monthly distributions; and (ii) the opportunity for capital appreciation through exposure to a tactical asset allocation strategy that focuses primarily on fixed income and fixed income-like securities.
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Source: Horizons Exchange Traded Funds
