Americas ETP News
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UBS expands suite of income yielding products with 2 ETRACS ETNS designed to deliver high monthly potential and leveraged exposure to blue-chip dividend indexes
May 23, 2012--UBS Investment Bank announced that today is the first day of trading on the NYSE Arca for 2 new ETRACS Exchange Traded Notes ("ETNs") linked to the Dow Jones U.S. Select Dividend IndexSM and the S&P High Yield Dividend Aristocrats Index:
ETRACS Monthly Pay 2xLeveraged Dow Jones Select Dividend Index ETN
Ticker: DVYL
ETRACS Monthly Pay 2xLeveraged S&P Dividend ETN
Ticker: SDYL
The 2 new ETRACS Monthly Pay 2xLeveraged ETNs are designed to provide:
2x leveraged exposure to the Index(s), less fees, making them the only exchange-traded products with leveraged exposure to these indexes.
Monthly leverage resetting, which provides an innovative alternative to daily leverage resetting typically used in other leveraged products
Significant income potential in the form of variable monthly coupons linked to 2 times the dividends, if any, on the index constituents.
Convenience of a single exchange-traded security.
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Source: UBS
ProShares Launches Only Corporate Bond Fund1 With Substantially All Assets AAA-Rated2
May 23, 2012--ProShares, a premier provider of alternative exchange traded funds (ETFs), today announced the launch of ProShares USD Covered Bond1 (NYSE: COBO). This new ETF is the only corporate bond fund1-mutual fund or ETF-in the U.S. with substantially all of its assets rated AAA.2 COBO lists on NYSE Arca today.
COBO invests in covered bonds, a type of collateralized corporate debt typically issued by non-U.S. financial institutions. Covered bonds are a popular investment outside the U.S. but not broadly accessible in the U.S. until today.
"Many investors are interested in high credit quality bonds, but the supply of AAA-rated corporate debt in the U.S. is very limited," said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares' investment advisor. "COBO, a first-of-its-kind ETF, fills the gap by accessing the highest-rated segment of the $3 trillion,3 240-year-old4 covered bond market."
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Source: ProShares
Futures Now Trading on the CBOE NASDAQ-100 Volatility Index
May 23, 2012--NASDAQ OMX Global Indexes is pleased to announce that CBOE NASDAQ-100 Volatility Index futures contracts (ticker symbol VXN, futures symbol VN) are now trading on CBOE Futures Exchange, LLC (CFE).
The CBOE NASDAQ-100 Volatility Index, which measures the volatility of the NASDAQ-100 Index® (NDX®), is calculated through the application of CBOE's VIX® methodology to the prices of options on NDX.
Barclays will act as a liquidity provider for VXN futures contracts.
Trading the CBOE NASDAQ-100 Volatility Index futures could further enhance the liquidity of the industry-leading securities that comprise the NASDAQ-100 Index. These futures reflect not only the popularity of the NASDAQ-100 Index, but the CBOE’s commitment to innovation and broadening the adoption of this important benchmark.
For more information on on CBOE NASDAQ-100 Volatility Index futures, visit www.cboe.com/VXN.
For information on the NASDAQ-100 Index and other offerings, visit www.nasdaqomx.com/indexes
Source: NASDAQ OMX
Biggest US banks in senator's sights
May 23, 2012--Sherrod Brown has been feeling optimistic. The gruff-voiced senator from Ohio is trying to push a law through Congress that would put an end to the "too big to fail" problem.
In effect, it would force a break-up of America’s six biggest banks by assets: JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley.
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Source: FT.com
Knight Capital Says Its Facebook Loss May Total $35 Million
May 23, 2012--Knight Capital Group Inc. (KCG) estimated that it lost about $30 million to $35 million trading Facebook Inc. (FB) because of technical problems at Nasdaq OMX Group Inc. (NDAQ) related to the social-media company's initial public offering.
The brokerage and market maker said that while it submitted claims to Nasdaq, “there are no assurances that the company will be able to recover any of its losses resulting from the numerous issues and problems at Nasdaq,” according to a filing today with the U.S. Securities and Exchange Commission. Knight, based in Jersey City, New Jersey, said it’s “evaluating all remedies available under law.”
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Source: Bloomberg
Copper ETF plan would 'wreak havoc'
May 23, 2012--US manufacturers have attacked plans by JPMorgan Chase to launch an exchange-traded fund backed by physical copper, arguing that the product would "grossly and artificially inflate prices" and "wreak havoc on the US and global economy".
Copper’s use in electrical wiring makes it essential to the manufacturing industry.
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Source: FT.com
MSCI and BM&FBOVESPA Reach a Preliminary Agreement on the Expansion of their Business Relationship and the Provision of Real Time Data
May 23, 2012--MSCI Inc., a leading provider of investment decision support tools worldwide, and BM&FBOVESPA S.A.-Bolsa de Valores, Mercadorias e Futuros ("BVMF"), the largest equity and futures exchange in Latin America and one of the five biggest exchanges in the world in market value, announced today that they have reached a preliminary agreement on key terms regarding the provision of real time stock market data.
With this preliminary agreement, the calculation of MSCI real time indices will continue as normal to support a range of financial products. The parties will now work on the completion of binding documentation.
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Source: MSCI
Viacom Inc. to Join the NASDAQ-100 Index Beginning May 30, 2012
May 23,, 2012--Viacom Inc. will become a component of the NASDAQ-100 Index and the NASDAQ-100 Equal Weighted Index prior to market open on Wednesday, May 30, 2012. Viacom Inc. will replace Teva Pharmaceuticals Industries Ltd..
Viacom Inc. is headquartered in New York, New York and has a market capitalization of approximately $22.9 billion. For more information about the company, go to www.viacom.com.
The NASDAQ-100 Index, launched in January 1985, is one of the most widely followed benchmarks in the world.
The NASDAQ-100 Index is also the basis of the PowerShares QQQ Trust (Nasdaq:QQQ) which aims to provide investment results that, before expenses, correspond with the NASDAQ-100 Index's performance. In addition, options, futures and structured products based on the NASDAQ-100 Index and the PowerShares QQQ Trust trade on various exchanges.
Source: NASDAQ OMX
Van Eck files with the SEC
May 22, 2012--Van Eck has filed a post-effective amendment no. 713, registration statement with the SEC.
This filing relates solely to the following series of the Registrant: Market Vectors Africa Index ETF, Market Vectors Agribusiness ETF, Market Vectors Brazil Small-Cap ETF, Market Vectors China ETF, Market Vectors Coal ETF, Market Vectors Colombia ETF, Market Vectors Egypt Index ETF, Market Vectors Environmental Services ETF, Market Vectors Gaming ETF, Market Vectors Germany Small-Cap ETF,
Market Vectors Global Alternative Energy ETF, Market Vectors Gold Miners ETF, Market Vectors Gulf States Index ETF, Market Vectors India Small-Cap Index ETF, Market Vectors Indonesia Index ETF, Market Vectors Junior Gold Miners ETF, Market Vectors Latin America Small-Cap Index ETF, Market Vectors Oil Services ETF, Market Vectors Poland ETF, Market Vectors Rare Earth/Strategic Metals ETF, Market Vectors Russia ETF, Market Vectors Russia Small-Cap ETF, Market Vectors RVE Hard Assets Producers ETF, Market Vectors Solar Energy ETF, Market Vectors Steel ETF, Market Vectors Uranium+Nuclear Energy ETF and Market Vectors Vietnam ETF
view filing
Source: SEC.gov
DB Equity Research Equity Research-US ETF Market Weekly Review:Market plunge removed over $40bn from ETP AUM
May 22, 2012--Net Cash Flows Review
Last week, the risk-off trade took another step towards consolidation. The US (S&P 500) retreated by 4.3%. Outside the US, the MSCI EAFE (in USD) and the MSCI EM (USD) dropped by 5.93% and 6.45%, respectively. Moving on to other asset classes, the 10Y Treasury yield retreated by 13bps last week and reached a new low of 1.71%, while the DB Liquid Commodity Index was down by 1.19%.
The WTI Crude Oil, and the Silver prices did alike and fell by 4.84%, and 0.59%, respectively; while the Agriculture sector (DB Diversified Agriculture Index), and Gold showed some resilience recording positive moves of 3.14%, and 0.86%, respectively. Last but not least, Volatility (VIX) soared an impressive 26.19% during the same period.
The total US ETP flows from all products registered $1.7bn of inflows during last week vs $0.4bn of inflows the previous week, setting the YTD weekly flows average at +$2.8bn (+$55.3bn YTD in total cash flows).
Equity, Fixed Income, and Commodity ETPs experienced flows of -$0.5bn, +$2.0bn, and +$0.3bn last week vs. -$0.5bn, +$1.2bn, and -$0.2bn the previous week, respectively.
Within Equity ETPs, small cap and large cap products experienced the largest inflows (+$1.1bn, +$0.5bn respectively); while regional emerging markets vehicles experienced the largest outflows (-$1.0bn). Within Fixed Income ETPs, broad benchmark products recorded the largest inflows (+$1.1bn), followed by Sovereign products (+$1.0bn); while Corporates experienced outflows of $0.3bn. Within Commodity ETPs, Precious Metals products experienced the largest inflows (+$0.3bn).
Top 3 ETPs & ETNs by inflows: IWM (+$1.1bn), BND (+$0.8bn), IVV (+$0.4bn)
Top 3 ETPs & ETNs by outflows: XLF (-$0.8bn), VWO (-$0.5bn), HYG (-$0.4bn)
New Launch Calendar: No new listing during the previous week
Turnover Review: first week above last year’s weekly average
Total weekly turnover increased by 21.4% to $387bn vs. $319bn in the previous week, driven by soaring volatility. Last week’s turnover level was the first time weekly turnover has been above last year’s weekly average this year. The largest absolute increase was on Equity ETP turnover, which rose by $55.1bn or 19.2% to $342bn. Fixed Income ETP and Commodity ETP turnover followed with increases of 51.9% (+$7.3bn) and 26.4% (+$4.1bn), respectively.
Assets Under Management (AUM) Review: $41bn removed from ETP assets
The risk-off trade hit equity markets really hard during last week removing $41bn or 3.5% from ETP assets. Total ETP AUM shrank to $1.11 trillion at the end of last week. YTD growth dropped below the two-digits to 6.2%. Assets for equity, fixed income and commodity ETPs moved -$41.9bn, +$0.6bn, and +$0.5bn during last week, respectively.
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Source: Deutsche Bank-Equity Research-North America
