Americas ETP News
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SEC Adopts Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants
April 15, 2016--The Securities and Exchange Commission voted on April 13 to adopt final rules implementing a comprehensive set of business conduct standards and chief compliance officer requirements for security-based swap dealers and major security-based swap participants (security-based swap entities).
The final rules are adopted under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which authorizes the Commission to implement a framework for regulating the over-the-counter security-based swap markets.
view Final Rule-Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants
Source: SEC.gov
First Trust to Launch the First Trust RiverFront Dynamic International ETFs
Three dynamic international ETFs actively managed by RiverFront Investment Group LLC
April 14, 2016--First Trust Advisors L.P. ("First Trust") announced today that they have launched three new exchange-traded funds ("ETFs"), First Trust RiverFront Dynamic Europe ETF (Nasdaq: RFEU), First Trust RiverFront Dynamic Asia Pacific ETF (Nasdaq: RFAP), and First Trust RiverFront Dynamic Developed International ETF (Nasdaq: RFDI) (the "Funds" and each a "Fund").
The Funds will seek to provide capital appreciation through exposure to global economies and the opportunities they represent. The ETFs are actively managed by RiverFront Investment Group, LLC (“RiverFront”) using their proprietary methodology, which employs a quantitative and qualitative ranking system based on factors that include value, quality and momentum.
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Source: First Trust
J.P. Morgan Buys Minority Stake In ETF Provider Global X
Bank's asset-management unit currently runs seven ETF funds
April 14, 2016--J.P. Morgan Chase & Co. said Thursday it has taken a minority stake in a rival exchange-traded-fund provider, a move that could jump-start the bank's relatively small footprint in the industry.
Asset managers who have been late to the ETF boom are scrambling to boost growth in a highly competitive environment where fund providers are under pressure to slash fees to court investors.
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Source: Wall Street Journal
Bats Welcomes State Street Global Advisors to the Bats ETF Marketplace
Global ETF Leader Lists Two ETFs on Bats for First Time
April 14, 2016--Bats Global Markets (Bats), the #1 U.S. market for the trading of exchange-traded funds (ETFs), today welcomed State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT), as a new issuer with the listing of the SPDR DoubleLine Emerging Markets Fixed Income ETF (Bats: EMTL) and the SPDR DoubleLine Short Duration Total Return Tactical ETF (Bats: STOT).
Both issues began trading today on the Bats ETF Marketplace.
The SPDR DoubleLine Short Duration Total Return Tactical ETF (STOT) seeks to maximize current income with a weighted average effective duration between one and three years.1 STOT is managed by Jeffrey Gundlach, chief executive officer and chief investment officer of DoubleLine Capital, Philip Barach, DoubleLine president and Jeffrey Sherman.
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Source: Bats Global Markets, Inc.
The Nasdaq Stock Market(R)Leads US Listing Exchanges with 42 Percent of New ETP Listings and Switches in the First Quarter of 2016
April 14, 2016--Vanguard, PowerShares, First Trust, Principal, Victory Capital and Eaton Vance among ETF Issuers to Select Nasdaq as Primary Venue for New Listings in March
Nasdaq (Nasdaq:NDAQ), the single largest U.S. equity exchange by market share, announced nine new listings during the month of March, reinforcing itself as one of the premier listing and trading venues for exchange-traded products (ETPs). At the end of the first quarter of 2016, Nasdaq captured 42 percent of new listings and switches- exceeding all other US exchanges.
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Source: NASDAQ.com
Research Affiliates-Negative Rates Are Dangerous to Your Wealth
April 14, 2016--Key Points
1. Investors are wise to be concerned by zero and negative interest rate policies promulgated by central bankers, because starting yields predict future investment returns. Zero real interest rates predict zero real returns, and negative real interest rates predict negative real returns.
2. For long-term investors, risk is more about failing to meet wealth accumulation goals than about short-term changes in the price of their portfolios; thus, the more appropriate measure of risk is the estimated probability of reaching or failing to reach the desired or needed long-term real return level.
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Source: Research Affiliates
Van Eck(R) Merk®(R) Gold Trust Reaches $100 million in Assets
April 14, 2016--Van Eck Merk Gold Trust (NYSE Arca: OUNZ), launched in May,, 2014, has surpassed $100 million in assets under management.
"We increasingly see investors drawn to OUNZ not only for the simple ETF access it provides to gold, but also its unique feature that enables investors to take delivery of their gold," said Brandon Rakszawski, ETF Product Manager for Van Eck.
"We are thrilled that our partnership with VanEck has been embraced by investors," said Axel Merk, President of Merk Investments, the sponsor of OUNZ. "Investors tell us OUNZ is exactly what they are looking for-a deliverable gold ETF to diversify their portfolio."
FBR-Beige Book-Current Economic Conditions
April 13, 2016--Reports from the twelve Federal Reserve Districts suggest that national economic activity continued to expand in late February and March, though the pace of growth varied across Districts. Most Districts said that economic growth was in the modest to moderate range and that contacts expected growth would remain in that range going forward.
Consumer spending increased modestly in most Districts and reports on tourism were mostly positive. Labor market conditions continued to strengthen and business spending generally expanded across most Districts. Demand for nonfinancial services grew moderately overall. Manufacturing activity increased in most Districts. Construction and real estate activity also expanded. Credit conditions improved, on net, in most Districts. Low prices weighed on energy and mining output as well as prospects for agricultural producers. Overall, prices increased modestly across the majority of Districts, and input cost pressures continued to ease.
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Source: FBR
Regulator Joins Nasdaq Chief in Warning About Too Many Tests
April 12, 2016--SEC's Luparello cautions against running too many market tests
Nasdaq's Greifeld promotes simulations, not real-world pilots
Experiments testing changes to the plumbing of the U.S. stock market could clog it up instead, according to a regulator and exchange executive.
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Source: Bloomberg
