Americas ETP News
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Market volatility? Don't blame ETFs, says ICI
New research from industry groups shows that macroeconomic events are more to blame for volatility than exchange-traded funds
February 23, 2012--The finger-pointing began with the flash crash in 2010, with critics increasingly pointing to them as one of the causes of heightened market volatility.
But according to a new report by the Investment Company Institute, ETFs are innocent of the charges of driving volatility. A joint report from the Securities and Exchange Commission and the Commodity Futures Trading Commission also found that ETFs weren't the cause of the flash crash.
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Source: Investment News
Re-Proposed Procedures to Establish Appropriate Minimum Block Sizes for Large Notional Off-Facility Swaps and Block Trades
Further Measures to Protect the Identities of Parties to Swap Transactions-Statement of Commissioner Scott D. O'Malia
February 23, 2012--
On December 7, 2010, the Commission proposed a rule that attempted to: establish minimum block sizes for large notional off-facility swaps and block trades; and institute measures to protect the identities of parties to swap transactions.1
Unfortunately, that proposal was fundamentally flawed and received numerous critical comments from market participants. Recognizing that the proposal was beyond repair, the Commission wisely chose to withdraw the proposal and began anew. I commend my fellow commissioners and staff for having the wherewithal to admit error and to develop a new proposal. Unfortunately, the new draft, while a modification of the block formula, still fails to establish a realistic proposal that utilizes asset-specific data to develop reasonable block standards, rather than a one-size-fits-all solution.
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Source: CFTC.gov
FINRA Issues New Investor Alert To Help Investors Understand Their Brokerage Account Statements
February 23, 2012--The Financial Industry Regulatory Authority (FINRA) today issued a new Investor Alert called It Pays to Understand Your Brokerage Account Statements and Trade Confirmations to help guide investors through the key elements of their account statements and trade confirmations.
FINRA is reminding investors that reviewing their account statements not only helps them stay on top of their holdings, but also alerts them to errors or broker or firm misconduct, such as unauthorized trading or overcharging customers for handling transactions.
"Investors whose portfolios have taken a hit might not be keen to open their account statements, but investors should review their statements carefully—and immediately call the firm that issued the statement about any fee they do not understand or transaction they did not authorize," said Gerri Walsh, FINRA's Vice President for Investor Education. "Investors should also review trade confirmations as soon as they receive them because a single keystroke can make the difference between 100 and 1,000 shares."
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Source: FINRA
Invesco PowerShares to Expand High Beta Family of ETFs
Complete Suite of PowerShares Global Factor-Driven ETFs Offer High Beta and Low Volatility Strategies Spanning U.S., International Developed, and Emerging Markets
February 22, 2012--Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), today announced the anticipated listing of two new ETFs that will provide investors with access to high-beta strategies covering emerging and international developed markets.
The ETFs are expected to begin trading February 24, 2012 on the NYSE Arca. The two new portfolio names and ticker symbols are as follows:
High Beta Strategies:
EEHB PowerShares S&P Emerging Markets High Beta Portfolio
IDHB PowerShares S&P International Developed High Beta Portfolio
On May 5, 2011, Invesco PowerShares launched the first exchange-traded funds covering high beta and low volatility strategies for the U.S market. Today, with over $1.3 billion in AUM, the suite of PowerShares Global Factor-Driven ETFs provide advisors and investors with a disciplined approach and full range of tools for increasing beta or lowering volatility in their portfolios.
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Source: Invesco PowerShares
Guggenheim Investments to Close and Liquidate Eight Exchange Traded Products (ETPs) in March
Firm Remains Committed To ETP Suite; Ranks Eighth Largest U.S. ETP Provider Affected ETPs account for less than 1% of Guggenheim Investments' Exchange Traded Product (ETP) Business
February 22, 2012--Guggenheim Investments, the investment management division of Guggenheim Partners, LLC, today announced that it will close and liquidate eight exchange traded products ("ETPs") in order to focus resources on products that have demonstrated the most marketplace demand.
In February 2012, the Boards of Trustees of the Claymore Exchange-Traded Fund Trust and the Claymore Exchange Traded Fund Trust 2 (together, the “Claymore ETF Trusts”) and the Rydex ETF Trust approved the closing and subsequent liquidations of six exchange-traded funds ("ETFs"). Additionally, Rydex Specialized Products LLC ("Sponsor") announced plans to close and liquidate two of the CurrencyShares® Trusts that it sponsors. These eight offerings account for approximately $105 million in assets, or less than 1% of Guggenheim Investments’ total $11.9 billion in exchange-traded assets.1 Friday, March 23, 2012 will be the last day of trading on the NYSE Arca, Inc. ("NYSE Arca") for shares of the following ETPs:
CurrencyShares® Russian Ruble Trust (FXRU) 2
CurrencyShares® Mexican Peso Trust (FXM)2
Guggenheim EW Euro-Pacific LDRs ETF (NYSE Arca: EEN)3
Guggenheim International Small Cap LDRs ETF (NYSE Arca: XGC)3
Guggenheim Ocean Tomo Growth Index ETF (NYSE Arca: OTR)3
Guggenheim Ocean Tomo Patent ETF (NYSE Arca: OTP)3
Guggenheim Sector Rotation ETF (NYSE Arca: XRO)3
Rydex MSCI All Country World Equal Weight ETF (NYSE Arca: EWAC)
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Source: Guggenheim
iShares And First Trust Launch Batch Of New ETFs
February 22, 2012--iShares, the world's largest ETF family, has spawned the first sector-specific bond ETFs:
1. iShares Financial Sector Bond Fund (MONY)
2. iShares Industrials Sector Bond Fund
3. iShares Utilities Sector Bond Fund
Those hold bonds issued by financial, industrial and utilities companies.
The average coupon in the MONY index is 5.3% with an average maturity of eight years.
read more.
Source: Investors.com
Standard & Poor's Announces Changes in the S&P/TSX Canadian Indices
February 22, 2012--Standard & Poor's will make the following changes in the S&P/TSX Canadian Indices:
The Toronto Stock Exchange announced today in the Daily Bulletin that the shares of Rio Alto Mining Limited (TSXVN: RIO.V - News) will graduate to trade on TSX at the open of trading on Friday, February 24, 2012.
The ticker symbol will remain "RIO" and the CUSIP number will remain 76689T 10 4. The company will be removed from the S&P/TSX Venture Composite Index after the close of trading on Thursday, February 23, 2011 .
Rio Alto Mining is also a constituent of the S&P/TSX Venture Select Index. The company will be removed from this index effective after the close of Thursday, March 1, 2012 , at which time it will be listed on TSX.
The company is also a constituent of the S&P/TSX Venture 30 Index. According to methodology, it will remain in this index while trading on TSX until the next semi-annual review of the index in August, 2012.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poor's
Barclays files with the SEC
February 22, 2012--Barclays has filed a form 424B2 with the SEC for the Notes linked to the Barclays Capital Voyager III DJ-UBSCISM Excess Return Index due February 27, 2014, Global Medium-Term Notes, Series A, No. C-384.
view filing
Source: SEC.gov
ProShares files with the SEC
February 22, 2012--ProShares has filed a pre-effective amendment to Form S-1 Registration statement with the SEC. This Registration Statement contains a preliminary prospectus that includes 26 Geared Currency series of the Registrant.
view filing
Source: SEC.gov
Federated Files with the SEC
February 22, 2012-Federated Investment Management Company has filed an application for exemptive relief with the SEC for actively-managed ETFs.
view filing
Source: SEC.gov
