Americas ETP News
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Crisis of Confidence in ETNs Spells End for Note With 200% Gain
June 23, 2020--Credit Suisse delistings include hugely popular TVIX product
Pulled notes are a major blow to $11 billion corner of market
The demise of an exchange-traded note is often accompanied by accusations, investigations and heavy losses. Rarely, if ever, has it involved the year's best-performing product and assets well north of $1 billion.
The shock decision by Credit Suisse Group AG to drastically slash its ETN business, delisting nine securities worth nearly $3 billion, is the most powerful display yet of the existential crisis engulfing this corner of America's $4.4 trillion market for exchange-traded products.
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Source: Bloomberg
SEC, Justice Department to Scrutinize Exchanges' Market-Data Business
June 22, 2020--Partnership could provide greater scrutiny of fees charged for data
Wall Street's chief regulator and the nation's antitrust watchdog agreed to a formal partnership that could result in greater scrutiny of the fees charged by stock exchanges for crucial market data.
The Securities and Exchange Commission and the U.S. Justice Department unveiled the memorandum of understanding Monday at an event in Washington. The SEC has recently clashed with exchanges over the fees levied for their most robust data products. Now, the move to involve the Justice Department. with its authority over competitive..
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Source: wsj.com
UBS Launches ETRACS Alerian Midstream Energy Index ETN
June 22, 2020--UBS Investment Bank today announced that the ETRACS Midstream Energy Index ETN began trading on NYSE Arca(R). AMNA is linked to the Alerian Midstream Energy Index (Bloomberg: "AMNA Index").
ETN Ticker: AMNA
ETN Name: ETRACS Alerian Midstream Energy Index ETN
ETN |
Ticker |
Exchange |
CUSIP |
VelocitySharesTM 3x Long Gold ETNs linked to the S&P GSCI® Gold Index ER due October 14, 2031 |
UGLD |
The Nasdaq Stock Market |
22542D316 |
Source: Credit Suisse AG
Pandemic propels old-school bond traders towards an electronic future
June 22, 2020-- The mammoth bond market has long been the old-school bastion of the financial world, but the COVID-19 pandemic has cast a light on its future- and it looks electronic. Well, mainly.
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Source: Reuters
ETFMG Adds Biotech to Their Thematic ETF Lineup with GERM
June 18, 2020--ETFMG, a leading thematic ETF issuer, announced today the launch of its latest innovative exchange traded fund, the ETFMG Treatments, Testing and Advancements ETF (NYSE Arca: GERM).
GERM seeks to answer investor demand for direct exposure to the biotech companies directly engaged in the testing and treatments of infectious diseases. The first-to-market methodology behind the Fund focuses on the advancements in the infectious disease subsector of biotech with targeted exposure to U.S.-listed companies at the forefront of R&D, vaccines, therapies and testing technologies.
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Source: ETFMG
Court deals blow to SEC in battle with exchanges over fees
June 16, 2020--Regulator has been seeking to push down costs for investors in US markets.
A US appeals court on Tuesday handed another legal win to the country's biggest stock exchanges in their fight with their regulator, blocking a proposed experiment involving trading fees.
The decision was the second court loss in a fortnight for the Securities and Exchange Commission, which in recent years has toughened its scrutiny of major stock exchanges and sought to push down costs for traders.
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Source: FT.com
Israeli Equities Extend Lead Versus Global Benchmarks in May; Bluestar Israel Global Index(R) Outperforming MSCI Eafe by 9.4% in 2020 as Israel Reopens for Business
June 16, 2020--Israeli stocks, as defined by the BlueStar Israel Global Index(R) (BIGI(R)), rose 11.95% in April outperforming developed international equities, as measured by MSCI EAFE, by 5.41%. With a 2020 loss of 9.83%, BIGI is leading MSCI EAFE by 7.83% and MSCI EM by 6.77%, YTD.
Israeli technology stocks, as defined by The BlueStar Israel Global Technology Index™ (BIGITech(R)), led global tech benchmarks with a 15.17% return in April, outperforming the Dow Jones US Tech and S&P Global Tech indexes by 0.15% and 2.18%, respectively.
BIGI slightly underperformed the TA-125 Index of Israeli-listed stocks in April by 0.23% but maintains a 3.93% lead for 2020 YTD.
Israel’s government USD-denominated debt, as defined by the BlueStar Israel Government USD Bond Index, remains attractive as yields continue to fall.
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Source: Blue Star Indexes
CFTC.gov Commitments of Traders Update
June 12, 2020--The current reports for the week of June 09, 2020 are now available.
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Source: CFTC.gov
Franklin Templeton launches active US Treasuries ETF
June 12, 2020--Franklin Templeton has expanded its suite of actively managed fixed income ETFs in the US with the launch of a fund providing exposure to Treasury securities.
The Franklin Liberty US Treasury Bond ETF (FLGV US) has listed on NYSE Arca and comes with a net expense ratio of 0.09% after the application of a fee waiver.
Its gross expense ratio is 0.59%.
The fund, which is benchmarked against the Bloomberg Barclays US Aggregate Government Treasury Index, may invest across the maturity spectrum but will primarily focus on maturities between one and 30 years.
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Source: etfstrategy.com
