Americas ETP News
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SEC 'monitoring developments' after latest Nasdaq outage
September 5, 2013--The U.S. Securities and Exchange Commission said it was in contact with Nasdaq OMX Group after another brief outage in the system that was at the heart of the exchange's three-hour trading halt last month.
"As is our practice, we are in contact with them and monitoring developments," a spokesman for the securities regulator said.
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Source: Reuters
Emerging Global Advisors Announces Fund Closures
A leading asset gatherer in emerging market equity exchange-traded funds streamlines offerings
September 5, 2013--Emerging Global Advisors (EGA), the asset manager to the EGShares exchange-traded funds ("Funds"), today announced it will close 12 Funds representing 4% of assets under management.
"EGA provides investors with tools that address developing markets allocation needs," said Robert Holderith, founder of EGA. "As part of this ongoing commitment and our regular product line review, we identified an opportunity to streamline our existing offering. These changes are consistent with our dedication to delivering tools that fulfill unmet investor needs."
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Source: Emerging Global Advisors
El aumento del apetito de los institucionales por Europa llevo a Amundi a registrar 12 ETF en el mercado chileno
Entrevista con Laure Peyranne Rovet, responsable de relaciones con clientes de ETF para Iberia y Latinoamérica de Amundi
Septiembre 5, 2013--El negocio de ETF de Amundí Group forma parte del núcleo de su estrategia desde el 2008.
El desarrollo de nuevos productos y su rápida expansión por Europa se han convertido en sus principales impulsores. Actualmente gestiona 3.000 millones de dólares (a marzo de 2013) de inversores latinoamericanos y...
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Source: Funds America
CFTC's Division of Swap Dealer and Intermediary Oversight Issues No-Action Letter for Commodity Pool Operators of Registered Funds with Controlled Foreign Corporations
September 5, 2013--The Commodity Futures Trading Commission's (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a no-action letter to commodity pool operators of registered funds that trade in commodity interests through
wholly-owned controlled foreign corporations (CFCs).
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Source: CFTC.gov
CBOE Holdings Reports August 2012 Consolidated Trading Volume Of Over 91 Million Contracts; ADV Of Nearly 4 Million Contracts
September 4, 2013--CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that August 2012 consolidated trading volume for options contracts on the Chicago Board Options Exchange(R) (CBOE(R)) and C2 Options ExchangeSM (C2SM) and futures contracts on CBOE Futures Exchange (CFE(R)) totaled over 91 million contracts.
August 2012 average daily volume (ADV) for the three exchanges, combined, was 3.97 million contracts, a 40-percent decrease when compared to the all-time-monthly record ADV of 6.65 million contracts in August 2011, and a seven-percent decrease from 4.24 million contracts ADV in July 2012.
Year to date through August 2012,consolidated ADV for the three exchanges totaled 4.65 million contracts, down seven percent from the same period a year ago.
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Source: CBOE
EGShares Emerging Markets Consumer ETF (Ticker: ECON) Reaches Three-Year Milestone
ECON has become a vehicle of choice for investors seeking access to the rapidly growing emerging market middle class, making it the largest emerging markets consumer ETF
September 4, 2013--Emerging Global Advisors (EGA) today announced that its EGShares Emerging Markets
Consumer ETF (Ticker: ECON), the first and largest emerging markets (EM) consumer exchange-traded fund (ETF), reached its three-year milestone this month.
The growth of the EM consumer has been called "the biggest growth opportunity in the history of capitalism" as EM domestic spending is expected to reach $30 trillion annually by 2025 and EM consumers are expected to become the dominant force in the global economy.1
Investor demand has made ECON a vehicle of choice for accessing this growth and has become a long-term, strategic allocation for many equity growth portfolios.
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Source: EGA
PowerShares Canada reduces management fee for Senior Loan ETF (BKL)
September 4, 2013--In a continuing effort to deliver low-cost access to innovative asset classes, PowerShares Canada has reduced the management fee on PowerShares Senior Loan (CAD Hedged) Index ETF (TSX: BKL) by 0.10% to 0.80%. The fee reduction is effective Friday September 6, 2013.
Canada's first senior loan ETF, BKL provides access to an asset class that has historically delivered higher yield than other fixed-income securities of equal or higher credit quality and offers investors an added measure of security against borrower default. In addition, the low duration of senior loans may help to reduce a portfolio's overall interest-rate sensitivity.
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Source: Invesco Canada Ltd.
ETF 'Godfather,' two others, to exit trading firm KCG
September 4, 2013--KCG Holdings Inc (KCG.N), the trading firm formed in July after Getco Holding Co's $1.4 billion takeover of Knight Capital Group, said on Wednesday that the head of its exchange-traded funds team and two other managers were leaving the company.
The managers leaving are Reggie Browne, Eric Lichtenstein and Darren Taube, a company spokeswoman said. The two sides had been unable to agree on the terms of new contracts, a person familiar with the situation said.
Browne, known as "the Godfather of ETFs," joined Knight along with Lichtenstein and Taube in 2009 from brokerage Newedge USA.
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Source: Reuters
Vanguard Announces Results of Financial Advisor Compensation Survey
September 4, 2013--Vanguard Investments Canada Inc. announced today the results of a Vanguard-sponsored survey on advisor compensation that shows, while investors see great value in the services provided by advisors, there are disconnects between what advisors are paid and what their clients think they are paying. Vanguard partnered with Rogers Publishing Limited to compile the survey.
"As the survey indicates, it appears investors could benefit from a clearer picture of the amount and type of compensation they pay to advisors," said Atul Tiwari, Managing Director of Vanguard Investments Canada. "Advisors have an opportunity to educate investors on the value they provide, in advance of the implementation of new Client Relationship Model reforms which will mandate greater fee transparency. We believe that this is a positive development for both advisors and investors."
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Source: MarketWatch
Purpose Investments Inc. Launches New Funds and Revolutionary Fund Structure
September 3, 2013--Purpose Investments Inc. ("Purpose") is pleased to announce that the first two of its funds, Purpose Core Dividend Fund and the Purpose Tactical Hedged Equity Fund (collectively, the "Purpose Funds"), have completed the initial public offering of their exchange traded series of shares ("ETF Shares").
The ETF Shares of Purpose Core Dividend Fund and Purpose Tactical Hedged Equity Fund will commence trading on the Toronto Stock Exchange today under the ticker symbol PDF and PHE, respectively.
Today's launch is part of Purpose’s first series of open-ended funds for Canadian investors. view more
Source: Purpose Investments Inc.
