Americas ETP News
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NY Fed warns asset managers are vulnerable to 'runs'
February 18, 2016--The New York Federal Reserve has warned that asset managers are vulnerable to quasi-bank runs that can cause "significant negative spillovers" across financial markets.
The combination of deteriorating trading conditions-especially in corporate bonds-combined with the swelling of the US mutual fund industry that promises investors the ability to redeem money at a moment's notice has become an increasing concern for some policymakers, fund managers and analysts.
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Source: FT.com
BATS ETF Marketplace Welcomes New ProShares Managed Futures Strategy ETF
February 18, 2016--BATS Global Markets (BATS), the #1 U.S. market for the trading of exchange-traded funds (ETFs), today welcomed the ProShares Managed Futures Strategy ETF (FUT), which began trading today on The BATS ETF Marketplace.
The new Fund is an actively managed ETF that seeks to achieve positive returns that are not directly correlated to broad equity or fixed income markets. The Fund is registered under the Investment Company Act of 1940.
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Source: BATS Global Markets, Inc
Brinker Capital Launches its First Destinations Collective Investment Trust in Partnership with The Guardian Life Insurance Company of America(R)
February 17, 2016--New Solution Builds upon Brinker Capital's 10 years as a Retirement Plan Service provider, and over 20 years as the provider of Destinations' disciplined investment process
Brinker Capital, a leading investment management firm, today announced the launch of its new Destinations Collective Investment Trust (CIT) solution in partnership with The Guardian Insurance & Annuity Company, Inc., a wholly-owned subsidiary of The Guardian Life Insurance Company of America(R) (Guardian).
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Source: Brinker Capital
Fed eyes increased risks for US economy
February 17, 2016--Many Federal Reserve policymakers saw increased risks facing the US economy as they assessed the market turmoil that has erupted in 2016 amid plunging commodity prices and confusion over China's currency policies.
The central bank's minutes for its January meeting released on Wednesday showed that Fed policymakers were wary of rushing to premature conclusions about the implications of the month's financial turbulence, but most agreed that the outlook had become more clouded and uncertain.
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Source: usagold.com
AdvisorShares-This Week in Active ETFs: Abundant Volatility
Weekly Market Review-Highlights of the Prior week-February 8 February 12
February 16, 2016--Macro
Despite a big bounce on Friday, domestic equities still closed
lower for the fifth week out of the last seven.
As has been the case all year, trading was very volatile. For the week the Dow
Jones Industrial Average fell 1.43%, the S&P 500 dropped 83 basis points, the NASDAQ was off 0.61% and the Russell 2000 slid 1.40%.
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Source: AdvisorShares
CFTC.gov Swaps Report Update
February 17, 2016--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Minutes of the Federal Open Market Committee January 26-27, 2016
February 17, 2016--The Federal Reserve Board and the Federal Open Market Committee released the attached minutes of the Committee meeting held on January 26-27, 2016.
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Source: federalreserve.gov
ISE Mercury Completes Successful Launch
February 17, 2016-The International Securities Exchange Holdings, Inc. (ISE Holdings) today announced that ISE MercuryTM, ISE Holdings' third options exchange, launched successfully yesterday.
ISE Mercury launched with twelve symbols that were selected as the first of four phases of product rollouts. The rollout schedule, which initially includes more than 600 of the most actively-traded options products, is available here.
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Source: International Securities Exchange Holdings, Inc. (ISE Holdings)
The Janus Equal Risk Weighted Large Cap ETF Portfolio Liquidates
February 16, 2016--Effective at the close of business on February 17, 2016, the Janus Equal Risk Weighted Large Cap ETF (NASDAQ: ERW) portfolio was liquidated and will no longer be tracking its Index, the Janus Equal Risk Weighted Large Cap Index.
As a result of the liquidation, the NAV now represents a 100% cash position and an intraday portfolio value will no longer be calculated or disseminated.
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Source: Janus Equal Risk Weighted Large Cap ETF
ETF Trading Commentary-Oil ETPs -Why Now?
February 16, 2016--Month-to-date (MTD) net cash flows into U.S.-listed oil Exchange Traded Products (ETPs) have been substantial as the front-month WTI futures contract price has bumped off of a 15-year low of just over $26.
Two products (both ETNs) from VelocityShares have seen massive turnover this month. UWTI, the 3x leveraged crude ETN has taken in $545 million in net new cash while DWTI, the 3x inverse leveraged crude ETN, has had $710 million flow out of the fund.1 The MTD net effect of these two products’ turnover in combination with the other major oil ETPs is a cash INFLOW into long WTI contracts valued at approximately $1.84 billion, which is around 63,600 contracts based on the current price of the March contract.2 To be clear, this inflow is not invested entirely in front-month contracts; some is spread across the futures curve and invested out as far as 12 months.
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Source: Macquarie Securities Group
