Americas ETP News
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Invesco PowerShares Expands Smart Beta Suite With New International BuyBack Achievers ETF
February 27, 2014--Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), announced today the listing of the PowerShares International BuyBack Achievers(TM) Portfolio (IPKW) on the NASDAQ Stock Market, LLC. IPKW provides investors efficient access to a portfolio of international companies classified as International BuyBack Achievers(TM).
BuyBack Achievers are companies that have effected a net reduction of 5% or more of their outstanding shares in their most recent fiscal year, and have met additional criteria in accordance with the guidelines and mandated procedures of the NASDAQ OMX Group, Inc., the underlying index provider.
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Source: Invesco PowerShares Capital Management LLC
State Street Global Advisors' New Short-Term TIPS SPDR ETF Seeks to Offer Inflation Protection for a Rising Rate Environment
February 27, 2014--State Street Global Advisors (SSgA), the asset management arm of State Street Corporation (NYSE:STT) today announced the SPDR Barclays 0-5 Year TIPS ETF (Symbol: SIPE) began trading on the NYSE Arca on February 27, 2014. The SPDR Barclays 0-5 Year TIPS ETF gives investors a potential opportunity to protect their portfolios from inflation and diversify their fixed income allocations to prepare for rising interest rates.
It adds to investors' options in the SPDR fixed-income product suite in a short-term TIPs offering.
"With rising rates on the horizon, investors are increasingly relying on ETFs to manage duration risk within their fixed-income allocations," continued Ross. "The new SPDR Barclays 0-5 Year TIPS ETF seeks to offer these investors a hedge against inflation that’s less sensitive to interest rate changes than longer duration TIPS funds."
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Source: State Street Global Advisors
State Street Enters Fray as Corporate-Bond Broker
February 27, 2014--As Wall Street banks pull back from some corporate bond trades with clients, other large financial institutions are looking to step in.
A State Street Corp. unit has begun handling corporate-bond trades between large investment firms as an intermediary, company officials said. That job is often done by a bank-owned broker-dealer.
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Source: Wall Street Journal
KCG chief: 'Any security that is liquid, we want to be a leader in'
February 27, 2014--
Daniel Coleman, the chief executive of KCG Holdings, talks exclusively to Financial News about the challenges of merging a high-frequency trader with an institutional brokerage, forging a new category of securities firm and the group's master plan for Europe.
KCG was formed last July through a $1.4 billion merger between high-speed trading firm Getco and US broker Knight Capital. The deal followed an algorithmic trading error at Knight on August 1 2012, which cost the firm over $450 million in a matter of minutes and forced it to seek rescue from a group of firms
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Source: Source: Financial News
CFTC's Division of Swap Dealer and Intermediary Oversight Issues a Staff Advisory on Best Practices for Complying with the Gramm-Leach-Bliley Act Security Safeguards
February 26, 2014--The U.S. Commodity Futures Trading Commission's (Commission) Division of Swap Dealer and Intermediary Oversight (Division) today issued a Staff Advisory that outlines recommended best practices for covered financial institutions to comply with Title V and Part 160 of the Commission's regulations concerning security safeguards.
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Source: CFTC.gov
Economic Growth Is Projected to Be Solid in the Near Term, but Weakness in the Labor Market Will Probably Persist
February 26, 2014--After a frustratingly slow recovery from the severe recession of 2007 to 2009, the economy will grow at a solid pace in 2014 and the next few years, averaging about 3 percent per year, according to CBO's most recent economic projections, which were published earlier this month in The Budget and Economic Outlook: 2014 to 2024.
From 2018 to 2024, CBO projects the growth of real (inflation-adjusted) gross domestic product (GDP) will average 2.2 percent per year.
What Is the Outlook for the Economy Through 2017?
Over the next few years, CBO anticipates that increases in housing construction and investment by businesses will boost overall output, employment, and incomes, and, therefore, consumer spending. In addition, under current law, federal fiscal policy will restrain the growth of the economy by much less than it has recently. As measured by the change from the fourth quarter of the previous year, real GDP is projected to increase by 3.1 percent this year, by 3.4 percent per year in 2015 and 2016, and by 2.7 percent in 2017; by comparison, real GDP increased by 2.7 percent in 2013 (see the figure below). By the second half of 2017, CBO projects, real GDP will return to its average historical relationship with potential (or maximum sustainable) GDP-that is, slightly below its potential level.
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Source: Congressional Budget Office (CBO)
CFTC.gov Swaps Report Update
February 26, 2014--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Meet the Force Behind the Scenes in the $2.4 Trillion ETF Market
February 26, 2014--Reginald Browne tilts his 6-foot-5-inch frame forward to reach a chirping phone.
"What do you want, what do you need?" he asks.
It's his standard greeting for just about anyone who calls, Bloomberg Markets magazine will report in its April 2014 issue. This time, it's a representative of a large public pension fund who's thinking about moving money into exchange-traded funds for the first time.
Browne launches into his education mode, patiently answering questions on how closely an ETF will really track its index, how quickly the investor can get in and out and how much it will cost to trade.
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Source: Bloomberg
JPMorgan's Push Into 'Smart Beta' ETFs Takes Shape
February 26, 2014--In the same week that J.P. Morgan Chase (JPM) announced deep cuts in its mortgage-lending business, the firm's push into exchange-traded funds is coming into public view.
Last night, JPM detailed three planned offerings in a regulatory filing which underscore an interest in "smart beta" ETFs. The envisioned funds look a bit like Northern Trust's FlexShares, the best example of an old-line bank making a sudden success in fast-growing ETFs.
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Source: Barron's
ISE and ISE Gemini Named "Best Options Trading Venue" at Wall Street Letter 2014 Institutional Trading Awards
February 26, 2014--The announced today that it received the Wall Street Letter 2014 Institutional Trading Award for "Best Options Trading Venue" for its two exchanges, ISE and ISE Gemini.
In addition to that honor, ISE Holdings also received a second award for "Most Innovative Fee Structure." ISE Holdings' options business highlights in 2013 were anchored by the launch and early success of its second options exchange, ISE Gemini. ISE Gemini was the fastest new exchange to reach two percent market share and crossed the 20 million contract milestone within three months. ISE saw additional success in its Implied Order Functionality, surpassing the 20 million contracts traded milestone in October 2013.
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Source: International Securities Exchange Holdings, Inc. (ISE Holdings)
