Americas ETP News
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Seven Reasons Why Advisors Should Use Bond Ladders
August 18, 2017--I often hear criticisms from the financial media and professional advisors about the use of bond ladders.
Whenever the criticism comes from professional advisors, however, I've noticed it generally involves firms that use only bond mutual funds or ETFs instead of individual, tailored bond portfolios, whether in the form of a bond ladder or not. Unfortunately, much -if not all-of this criticism is based on falsehoods and the conflicts that can arise when advisors employ only mutual funds and ETFs.
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Source: Advisor Perspectives
ETFGI reports ETFs/ETPs listed in the United States in first 7 months gathered 275 billion US dollars in net inflows nearly matching record 2016 total
August 18, 2017--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today ETFs and ETPs listed in the United States gathered net inflows of US$27.99 Bn in July marking the 17th consecutive month of positive net new asset flows.
Year to date, net inflows stand at US$275.38 Bn which is more than double the net inflows of US$112.16 Bn accumulated at this point last year and nearly the same as the US$278.74 Bn gathered in all of 2016.
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Source: ETFGI
First Trust CBOE S&P 500 VIX Tail Hedge Fund Changes Investment Objective, Fund Name, Listing Exchange and Ticker Symbol
August 18, 2017--First Trust CBOE S&P 500 VIX Tail Hedge Fund (NYSE: VIXH) (the "Fund"), an exchange-traded index fund and a series of First Trust Exchange-Traded Fund (the "Trust"), announced today that the Trust has changed the Fund's investment objective to seek investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the Nasdaq Dorsey Wright People's Portfolio Index (the "New Index").
The New Index is developed, maintained and sponsored by Nasdaq, Inc.("Nasdaq").
The Fund also changed its name to First Trust Dorsey Wright People's Portfolio ETF. The Fund’s shares are listed and trade on the NASDAQ Stock Market LLC under the ticker symbol DWPP.
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Source: First Trust CBOE S&P 500 VIX Tail Hedge Fund
Japanese Bitcoin Exchange bitFlyer Obtains Approval to Launch in US
August 18, 2017--At launch, the exchange will only offer BTC/USD trading but plans to add support for other cryptocurrency pairs and products.
Leading Japanese Bitcoin exchange bitFlyer today said that it has received regulatory approval to operate in the United States, and according to the company, this license applies to 34 states.
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Source: financemagnates.com
TMX Group Statement Regarding Regulatory Engagement
August 17, 2017--TMX Group, owner and operator of CDS, Canada's equities and fixed income clearing house, is engaged with the Canadian Securities Administrators (CSA), an umbrella organization of Canada's provincial and territorial securities regulators, regarding the clearing of securities of issuers with marijuana-related activities in the U.S.
This is a complex matter which touches multiple aspects across our capital market system, and as such requires close examination and careful consideration.
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Source: TMX Group'
Banks warned off machine learning for model risk
August 17, 2017--Banks acknowledge they "cannot hide behind a complex tool" to assess interconnectedness
US regulators are raising concerns about the use of machine learning techniques to assess contagion risks in bank model networks.
Last year, certain entities supervised by the US Federal Reserve were asked to analyse their aggregate model risk-essentially the interactions and dependencies between various risk and pricing models.
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Source: Risk.net
Ontario Securities Commission Announces Agenda For Roundtable On Option Of Discontinuing Embedded Commissions
August 17, 2017--The Ontario Securities Commission (OSC) today announced the agenda and list of panellists for the upcoming roundtable to discuss Canadian Securities Administrators (CSA) Consultation Paper 81-408 Consultation on the Option of Discontinuing Embedded Commissions.
The roundtable is being held as part of the CSA's ongoing consultation on the possible impacts of discontinuing embedded commissions.
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Source: Ontario Securities Commission (OSC)
Low yields are warning Fed to think twice on rate hike: Kaplan
August 17, 2017--Dallas Fed President Robert Kaplan said he would need to see evidence that prices will rise to a 2-percent target in the medium term in order to support another interest-rate hike.
Minutes from the U.S. central bank's July meeting showed division between thosewho believe the price weakness is temporary and shouldn't derail from tightening plans, and those like Kaplan who have taken pause.
3 ways ETFs have revolutionized the bond market view more
Thompson Hine-SEC Risk Alert Highlights Cybersecurity Compliance Risks of Broker-Dealers, Investment Advisers and Fund Companies view more
Source: CNBC.com
August 17, 2017--Matt and Karen take a moment to look back-and look ahead-at the bond ETF market as it marks its 15 years since inception.
Fifteen years ago this week the first bond exchange-traded funds (ETFs) debuted, changing the way investors can access fixed income markets. At first, only four iShares bond ETFs were available,,with just a small amount of assets and access limited to Treasuries and U.S. investment grade credit. Today there are over 300 bond ETFs in the U.S. with more than $500 billion in total asset under management (AUM), offering entry into almost every sector of the bond market (source: BlackRock and Bloomberg, as of 6/30/2017).
Source: BlackRock
August 17, 2017--The Securities and Exchange Commission's (SEC) Office of Compliance Inspections and Examinations (OCIE) recently issued a Risk Alert highlighting its observations from its examinations of 75 firms, including broker-dealers, investment advisers and fund companies registered with the SEC.
The examinations were conducted pursuant to the SEC's previously announced Cybersecurity Examination Initiative. In 2015, OCIE completed its first round of examinations. This second round examined a different population of firms.
Source: ThompsonHine.com
