Americas ETP News
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CIBC Mellon to provide asset servicing for Questrade's new family of exchange-traded funds
March 23, 2015--CIBC Mellon today announced that Questrade Financial Group has selected CIBC Mellon as asset servicing provider for its newly-launched family of exchange-traded funds (ETFs).
CIBC Mellon will deliver custody, fund administration, ETF servicing and information-delivery services as Questrade enters Canada's ETF market with a family of Canadian-dollar hedged mid-to-large cap ETFs tracking US indexes.
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Source: CIBC Mellon
SIFMA Chief: Fiduciary Standard Could Be Detrimental To Investors
March 23, 2015--A new legal white paper said the proposed fiduciary standard for the sale of investment products "has the potential to cause a detrimental impact on all American savers, especially middle class investors, and the retirement system as a whole."
That's according to Kenneth E. Bentsen Jr., president and CEO of the Securities Industry and Financial Markets Association (SIFMA), which commissioned the white paper prepared by lawyers at Morgan Lewis and Bockius.
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Source: insurancenewsnet.com
US regulator calls fears over leveraged ETFs 'baseless'
March 23, 2015--The Securities and Exchange Commission's Michael Piwowar is downplaying warnings over leveraged exchange traded funds’ threat to market stability.
In a speech last week at the Investment Company Institute's conference in Palm Desert, California, the Republican commissioner called the criticisms "baseless"
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Source: FT.com
Volcker Outlines Plan for Overhauling Financial Regulation
March 20, 2015--Former Federal Reserve Chairman Paul Volcker outlined a new plan for revamping the way the U.S. government oversees the financial system, adding his voice to an idea that is broadly supported-even if Congress can never muster enough votes to pass it.
Mr. Volcker said he and his think tank, the Volcker Alliance, will soon publish a paper calling for consolidating and reorganizing U.S. financial regulators, including creating a single agency to supervise financial institutions while leaving the Federal Reserve the authority to write regulations for them
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Source: Wall Street Journal
Wisdom Tree leverages dollar volatility to attract investor dollars
March 20, 2015--Two exchange-traded funds are leading New York-based ETF manager WisdomTree Investments Inc. to experience significant growth.
The two fast-growing currency hedging strategies-which, combined, have $30.74 billion in assets, representing about 58% of total company AUM-are among WisdomTree's lineup of 70 ETFs.
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Source: Investment News
Dutch HFT plots US expansion
March 20, 2015--A Dutch high-speed trading firm reportedly preparing for an IPO that could value it at more than $1 billion has secured a broker dealer license with Wall Street's self-regulator
that will allow it to expand its trading in the US.
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Source: Financial News
BATS aims to be No. 1 in U.S. ETF listings within 3-5 years
March 20, 2015--March 20, 2015--BATS Global Markets plans to aggressively expand its listings business for exchange-traded funds, with the goal of being the No. 1 ETF listing venue within three to five years, the head of the exchange operator's U.S. markets said on Friday.
The company made its first foray into ETF listings in January 2012 with a handful of BlackRock Inc's iShares ETFs. It is now home to 31 ETFs, with ProShares, ValueShares, and KraneShares also listing products on BATS.
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Source: Reuters
AdvisorShares Weekly Market Update-Deflation in the USA
March 19, 2015--For the week of March 9 thru March 13
Macro
On Friday the Producer Price Index (PPI) printed at -0.50% which was the fourth monthly decline in a row. This creates a quandary for the Federal Reserve Bank at their meeting
this week because it wants to hike interest rates in the next
few months.
While lower prices are usually a positive for consumers, the data may be signaling a problem with demand which in turn becomes a problem for
growth. This should not be too shocking given the sluggish economic performance in much of the developed world.
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Source: AdvisorShares
Research Affiliates shutters index line licensed to PowerShares
March 19, 2015--Invesco PowerShares is swapping indices on nine smart beta equity exchange traded funds after Research Affiliates announced it would discontinue a family of benchmarks.
Research Affiliates will no longer calculate the US style index series, which rely on the firm's patented methodology.
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Source: FT.com
New Research From Fidelity(R) and BlackRock Reveals a Key to Growth for ETF Adoption is Educating Investing on ETF Basics
March 19, 2015--ETF Industry Grows at Record Pace, Even Though Two-Thirds of U.S. Investors Don't Own ETFs
Greater Awareness, Further Education Are Powerful Drivers To Increasing ETF Adoption Among Investors and Advisors
Current ETF Owners Increasingly Turning to ETFs for Long-Term Holdings
Eight in 10 See Benefit in Combining ETFs and Mutual Funds in a Portfolio
While the exchange traded fund (ETF) industry continues to grow at a record pace, with more than $2 trillion in assets in the United States1, less than one-third (32 percent) of individual investors currently own ETFs in their portfolio. What's holding some investors back? According to a new study from Fidelity Investments and BlackRock (NYSE: BLK) of more than 1,000 individual investors, 61 percent of non-owners report they have not invested in ETFs because of a lack of general familiarity with the products.
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Source: Fidelity Investments
