Americas ETP News
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Schwab could be ETF investors' new Vanguard
April 20, 2012--Vanguard Group has become the world's largest fund company, with more than $1.7 trillion under management. Founder John Bogle discovered that indexing markets outperformed active managers after fees, and the firm has become a champion for low-cost investment products.
Now there’s another formidable player in this penny-a-point game.
Charles Schwab Corp. (US:SCHW) has aggressively entered the exchange-traded fund market with products that compete with both Vanguard and BlackRock Inc.’s (US:BLK) iShares lineup.
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Source: MarketWatch
CFTC.gov Commitments of Traders Reports Update
April 20, 2012--The current reports for the week of April 17, 2012 are now available.
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Source: CFTC.gov
iShares Launches the First Index-Based ETF Focused on Emerging Markets Corporate Bonds
New iShares ETF taps into the next stage of emerging markets economic growth, listing same-day on BATS and the London Stock Exchange
April 19, 2012--BlackRock, Inc. announced that its iShares Exchange Traded Funds (ETFs) business, the world's largest manager of ETFs, has launched a new fund focused on corporate bonds in emerging market countries.
The iShares Emerging Markets Corporate Bond Fund (BATS: CEMB) offers broad access to dollar-denominated, investment grade and high yield bonds issued by corporations based in Latin America, Eastern Europe, the Middle East, Africa and Asia. An Irish-domiciled fund with the same exposure listed earlier today on the London Stock Exchange.
The iShares Emerging Markets Corporate Bond Fund is the first index-based ETF to offer targeted exposure to emerging markets corporate debt. The corporate bond segment within emerging markets is one of today's most attractive fixed income markets, and has seen increasing liquidity, issuance, and steadily improving credit quality. The emerging markets corporate debt market saw an eight-fold increase in issuance in the last ten years, and now rivals the size of the dollar-denominated emerging markets sovereign debt market1.
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Source: BlackRock
Global X Funds Launches MLP ETF (MLPA)
April 19, 2012--Global X Funds, the New York based provider of exchange traded funds (ETFs), today launched the Global X MLP ETF (MLPA). MLPA provides a comprehensive benchmark of the MLP industry, while maintaining a low fee of 0.45% versus the industry average of 0.85%.
North America's energy supply is constantly being transported, stored and processed to meet growing demand. Energy MLPs are owners and operators of key pieces of infrastructure involved in this supply chain, and as a result may stand to benefit from continued energy use and additional investments in U.S. energy infrastructure
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Source: Global X
Volcker Rule Conformance Period Clarified
April 19, 2012--The Federal Reserve Board on Thursday announced its approval of a statement clarifying that an entity covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the so-called Volcker Rule, has the full two-year period provided by the statute to fully conform its activities and investments, unless the Board extends the conformance period.
Section 619 generally requires banking entities to conform their activities and investments to the prohibitions and restrictions included in the statute on proprietary trading activities and on hedge fund and private equity fund activities and investments.
Section 619 required the Board to adopt rules governing the conformance periods for activities and investments restricted by that section, which the Board did on February 9, 2011. Subsequently, the Board received a number of requests for clarification of the manner in which this conformance period would apply and how the prohibitions will be enforced. The Board is issuing this statement to address this question.
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Source: FRB
Claymore files with the SEC
April 19, 2012--A post-effective amendment, registration statement with the SEC for the
Guggenheim BulletShares 2019 High Yield Corporate Bond ETF
Guggenheim BulletShares 2020 High Yield Corporate Bond ETF
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Source: SEC.gov
Van Eck files with the SEC
April 19, 2012-Van Eck has filed a post-effective amendment, registration statement with the SEC for the Market Vectors International High Yield Bond ETF.
view filing
Source: SEC.gov
Volcker Rule Conformance Period Clarified
April 19, 2012--The Federal Reserve Board on Thursday announced its approval of a statement clarifying that an entity covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the so-called Volcker Rule, has the full two-year period provided by the statute to fully conform its activities and investments, unless the Board extends the conformance period.
Section 619 generally requires banking entities to conform their activities and investments to the prohibitions and restrictions included in the statute on proprietary trading activities and on hedge fund and private equity fund activities and investments.
Section 619 required the Board to adopt rules governing the conformance periods for activities and investments restricted by that section, which the Board did on February 9, 2011. Subsequently, the Board received a number of requests for clarification of the manner in which this conformance period would apply and how the prohibitions will be enforced. The Board is issuing this statement to address this question.
The Board’s conformance rule provides entities covered by section 619 of the Dodd-Frank Act a period of two years after the statutory effective date, which would be until July 21, 2014, to fully conform their activities and investments to the requirements of section 619 of the Dodd-Frank Act and any implementing rules adopted in final under that section, unless that period is extended by the Board.
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Source:CFTC.gov
The Montreal Exchange's S&P/TSX 60 Index Mini Futures Contract has been Deemed Certified and may be Offered to U.S. persons through Direct Access
Effective April 19, 2012
April 18, 2012--On March 28, 2012, the Montreal Exchange (MX) requested expedited Commodity Futures Trading Commission (CFTC) review of the MX's S&P/TSX 60 Index Mini futures contract so that it may be offered to U.S. persons.
MX also requested that the contract may be made available through direct access terminals in the United States.
The CFTC’s Division of Market Oversight reviewed the contract and determined that it satisfied the requirements of the Commodity Exchange Act (Act) and the Commission’s Regulations. Accordingly, the S&P/TSX 60 Index Mini futures contract is deemed to be in conformance with the Act and therefore may be offered or sold to persons in the U.S. MX may make the contract available for trading through its direct access terminals in the U.S.
Source: CFTC.gov
World Bank-Mexico: Well Equipped to Cope with Global Risks
April 19, 2012--In an increasingly globalized and intertwined world, countries face uncertainties and risks and no single economy can be completely immune to shocks. More integration with international markets, while bringing advantages, often also means higher exposure to risks.
The new World Bank report "Latin America copes with volatility, the dark side of globalization" highlights such perils but also countries' capacity to deal with uncertainty.
Take Mexico for example. Although its economy is highly exposed to certain external shocks, it is relatively well prepared to respond to them, compared to other countries in the region, the report finds.
view Word Bank Report-Latin America Copes with Volatility,
The Dark Side of Globalization
Source: World Bank
