Americas ETP News
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ESMA issues clarifications on the clearing obligation for pension scheme arrangements
July 3, 2018--The European Securities and Markets Authority (ESMA) has issued today a statement on the clearing obligation for pension scheme arrangements (PSAs), with the objective to avoid, to the extent possible, disruption to certain PSAs who may face potential challenges clearing their OTC derivative contracts on 17 August 2018, when the current, and final, exemption from the clearing obligation under EMIR expires.
EMIR introduced a temporary exemption for PSAs from the clearing obligation to allow time for a suitable technical solution for the transfer of non-cash collateral as variation margins to be developed by CCPs.
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Source: ESMA
B3: ETFs Rocketing In Brazil In 2018
July 3, 2018--Brasil, Bolsa, Balcão (B3) are experiencing a rising volume with the listed Exchange Trading Funds (ETFs), one of the main choices for foreign investors.
ADTV jumps ~58% -from R$220MM to R$ 348MM-YTD May 2018 in comparison with same period in 2017.
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Source: Mondo Visione
IMF Executive Board Concludes Article IV Consultation with the United States
July 3, 2018--On June 29, 2018, the Executive Board of the International Monetary Fund (IMF) concluded the
Article IV consultation with the United States.1
The near-term outlook for the U.S. economy is one of strong growth and job creation.
Unemployment is near levels not seen in 50 years, and growth is set to accelerate, aided by a
fiscal stimulus, a recovery of private investment, and supportive financial conditions.
These positive outturns have supported, and been reinforced by, a favorable external environment. The balance of evidence suggests that the U.S. economy is beyond full employment.
A slow but steady rise in wage and price inflation is expected as labor and product markets tighten. Core PCE inflation is expected to rise modestly above 2 percent by mid-year. Wages
have been growing broadly in line with (relatively weak) labor productivity growth, leaving unit
labor costs virtually unchanged over the past 2 years. In the next several months, wages and unit
labor costs are anticipated to increase at a modest pace.
view the IMF Executive Board Concludes Article IV Consultation with the United States
Source: IMF
ETFGI reports net inflows of US$504 million to ETFs and ETPs listed in Latin America during May 2018
July 2, 2018--According to ETFGI's May 2018 Latin America ETF and ETP industry insights report, a monthly report included in an annual paid-for research subscription service, ETFs listed in Latin America saw net inflows of US$504 Million during May, representing the second highest inflows in five years. (All dollar values in USD unless otherwise noted.)
Highlights
In May 2018, ETFs listed in Latin America saw net inflows of $504 Mn, the second highest in five years.
Assets invested in ETFs listed in Latin America decreased by $400 Mn during May from $8.09 Bn at the end of Aril to $7.69 Bn.
Equity ETFs/ETPs gathered the largest net inflows with $518 Mn, followed by leveraged ETFs/ETPs with $6 Mn.
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Source: ETFGI
Vanguard rolls out commission-free ETFs
July 2, 2018--In an effort to rival Charles Schwab, TD Ameritrade and Fidelity, Vanguard will now let investors trade almost 1,800 ETFs commission-free.
Vanguard is expanding the number of ETFs investors can trade commission-free on its brokerage platform from its 77 in-house funds to almost 1,800, the firm announced Monday.
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Source: citywireusa.com
Mirae Asset Expands ETF Business with Completion of Global X Acquisition
July 2, 2018--Mirae Asset Global Investments Co., Ltd. (Mirae Asset), one of Asia's leading independent financial companies based in Seoul, South Korea, today announced that it has completed the previously announced acquisition of Global X Management Company LLC (Global X), the New York-based provider of exchange-traded funds (ETFs) with $10.1 billioni in assets under management (AUM).
In partnering with Mirae Asset, Global X gains access to the resources and reach of a large, global financial institution, which will allow for Global X to continue to develop its thematic, income, and international ETF solutions, while expanding distribution capabilities.
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Source: Global X Funds
KraneShares Looks To China With New Junk Bond ETF
July 2, 2018--High-yield corporate debt is made more accessible to a wider range of investors thanks to exchange traded funds. That includes junk-rated debt corporate bonds in ex-U.S. markets.
The KraneShares CCBS China Corporate High Yield Bond USD Index ETF KCCB, -0.03% which debuted Friday, adds to the field of ex-U.S. junk bond ETF offerings. KraneShares is the firm behind the KraneShares CSI China Internet ETF KWEB, -0.22% among other China and emerging markets plays. The new KCCB is the firm's second ETF focusing on Chinese commercial bonds.
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Source: CNN.com
US industrial-focused ETF on track for fresh 2018 low
July 2, 2018--State Street's $11.7bn Industrial Select SPDR ETF opened trading on Monday morning on course for a new low for the year after a drop in oil
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Source: FT.com
'Big three' fire first shot as CMA finalises report
June 30, 2018--Antitrust body to publish findings of 9-month probe into investment consultancy
The UK's antitrust body has so far shown little evidence of a lack of competition in the investment consultancy market, Mercer, Aon and Willis Towers Watson have said.
The Competition and Markets Authority is gearing up to publish provisional findings on the sector after a nine-month investigation.
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Source: FT.com
Regulators Pass Streamlined Rules for ETFs
June 30, 2018--Exchange-traded funds now cover everything from small-cap stocks to high-yield bonds. But more ETFs may be coming down the pike. And investors may see a flood of actively managed ETFs, thanks to new rules that make them cheaper to run and more tax-efficient.
The Securities and Exchange Commission voted last week on proposed rules to expedite approvals of ETFs, improve transparency, and grant fund companies more flexibility to manage portfolios. The SEC scrapped a patchwork quilt of more than 300 "exemptive orders" that have governed the industry since the first ETF launched in 1993-essentially, every company had its own exception that allowed it to offer each kind of ETF.
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Source: Barron's
