Americas ETP News
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SEC Adopts Capital, Margin, and Segregation Requirements for Security-Based Swap Dealers and Major Security-Based Swap Participants and Amends the Capital and Segregation Requirements for Broker-Dealers
June 21, 2019--The Securities and Exchange Commission took another significant step toward establishing the regulatory regime for security-based swap dealers today by adopting a package of rules and rule amendments under Title VII of the Dodd-Frank Act.
These and other rules previously adopted by the Commission are designed to enhance the risk mitigation practices of firms that stand at the center of our security-based swap market, thereby protecting their counterparties and reducing risk to the market as a whole.
Federal Reserve issues FOMC statement
June 19, 2019--Information received since the Federal Open Market Committee met in May indicates that the labor market remains strong and that economic activity is rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low.
Although growth of household spending appears to have picked up from earlier in the year, indicators of business fixed investment have been soft. On a 12-month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of inflation compensation have declined; survey-based measures of longer-term inflation expectations are little changed.
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Source: federalreserve.gov
Federal Reserve Board and Federal Open Market Committee release economic projections from the June 18-19 FOMC meeting
June 19, 2019--June 19, 2019--The Federal Open Market Committee participants have released the economic projections and the target federal funds rate projections from the June 18-19 meeting.
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Source: federalreserve.gov
Cryptocurrency Startups Are in Limbo as Regulators Grapple With Risks
June 19, 2019--SEC, Finra have to decide whether unregulated blockchain currency dealers can be licensed brokerages
Dozens of startups that want to make the leap from unregulated cryptocurrency dealer to licensed brokerage are waiting for regulators to open the door to let them proceed.
Around 35 to 40 companies involved in digital assets have applied with U.S. securities watchdogs to become brokerages, with many hoping to launch electronic trading platforms, according to the Blockchain Association, an industry group. None of the applications has been approved since regulators stepped up enforcement actions against issuers of cryptocurrencies...
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Source: Wall Street Journal
Rex Shares Expands its Relationship With Bank of Montreal by Adding Dorsey Wright MLP Index Exchange Traded Notes to its Product Offerings
June 19, 2019-- REX Shares, LLC (REX) has expanded their relationship with Bank of Montreal with the addition of the Dorsey Wright MLP Index Exchange Traded Notes (the ETNs) to their product offerings. The ETNs are linked to the DWA MLP SelectTM Index (the Index) and issued by Bank of Montreal.
This product further compliments the REX brand, which launched MicroSectors ETNs in January 2018 with FANG+ linked ETNs, and expanded to include U.S. Big Banks and U.S. Big Oil linked ETNs in 2019. The Dorsey Wright MLP Index ETNs are trading on Nasdaq under the symbol BMLP.
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Source: REX Shares, LLC
Bank of America: Investors are the most bearish since 2008 crisis
June 18, 2019--Don't be fooled by the near-record highs in the US stock market: Sophisticated investors are on edge about the health of the global economy and corporate profits.
Pessimistic fund mangers are rushing out of stocks and piling into cash and ultra-safe government bonds, according to a Bank of America Merrill Lynch survey published on Tuesday. They're also rapidly marking down their estimates of global growth and earnings.
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Source: CNN
Solactive appointed as Index Provider for first Canadian eSports and eGaming ETF
June 17, 2019--Solactive is pleased to announce the release of its Solactive eGaming Index. It serves as the underlying of the Evolve E-Gaming Index ETF ("HERO") and includes companies active in eGaming and eSports, both of which are striving markets with robust performance potentials. Canadian ETF provider Evolve ETFs will be the first company to launch an ETF tracking the index.
eSports is a cultural phenomenon, and the rise of global communication has transformed what was once an individual pastime to become a worldwide billion-dollar industry. In 2018, the combined revenue of companies involved in the global eGaming industry topped USD 100 bn, setting a solid foundation for potential future growth.
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Source: Solactive AG
American Century Diversified Corporate Bond ETF's Fee Reduced
June 17, 2019--American Century Investments today announced it has reduced American Century Diversified Corporate Bond Exchange Traded Fund's (KORP) management fee from 0.45% to 0.29%. The fee reduction for KORP was effective June 14.
"With KORP now exceeding $60 million and attracting steady flows, we decided to reduce the fees in order to provide better value to investors," said Edward Rosenberg, senior vice president and head of ETFs for American Century Investments. "Our goal has always been to provide a lineup of ETFs that apply our unique insights to solve common investment problems."
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Source: American Century Investments
ProShares Joins Pershing's FundVest(R) ETF No-Transaction-Fee Platform with Seven Funds
June 17, 2019--ProShares, a premier provider of ETFs, announced that it has joined FundVest(R) ETF, the no-transaction-fee exchange traded fund platform by BNY Mellon's Pershing ("Pershing").
The seven ETFs include ProShares' popular Dividend Aristocrats(R), Large Cap Core Plus and Global Infrastructure funds.
"No-transaction-fee platforms are gaining popularity, as investors look to reduce costs within their investment portfolios," said Steve Cohen, managing director at ProShares. "Our inclusion in the Pershing no-transaction-fee platform will allow financial professionals and their clients to further leverage the ProShares ETF lineup in a cost-effective manner."
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Source: ProShares
Cboe Plans to Introduce New Lead Market Maker Incentive Program for its Cboe Listed ETP Marketplace
June 14, 2019--Cboe continues to innovate with a new Lead Market Maker Incentive Program that incorporates enhanced market quality requirements
Lead Market Makers on the Cboe Listed Marketplace planned to be rewarded for meeting certain quoting obligations and market quality metrics for Cboe-listed ETPs
New program planned to become effective in the third quarter of 2019, subject to regulatory review
Cboe Global Markets, Inc. (Cboe: CBOE), one of the world's largest exchange holding companies, today announced it plans to introduce a new Lead Market Maker (LMM) incentive program with enhanced market quality requirements on its Cboe Listed Marketplace for exchange traded products (ETPs).
The proposed new LMM program aims to provide a superior trading experience for issuers and investors by incenting Lead Market Makers to demonstrably enhance market quality in the form of tighter markets and deeper liquidity for Cboe-listed ETPs.
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Source: Cboe Global Markets, Inc.
