Americas ETP News
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ETF price war intensifies with new launches
February 10, 2012--A third example of increased price competition from iShares is provided by the launch of SLVP which is based on the MSCI global silver miners index.
SLVP carries a total expense ratio of 39bps and it undercuts SIL, the silver miners ETF run by Global X
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Source: FT.com
iShares files with the SEC-iShares Global ex USD High Yield Corporate Bond Fund
February 10, 2012--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares Global ex USD High Yield Corporate Bond Fund.
view filing
Source: SEC.gov
iShares files with the SEC-iShares Global High Yield Corporate Bond Fund
February 10, 2012--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares Global High Yield Corporate Bond Fund.
view fiing
Source: SEC.gov
Global X files with the SEC
February 10, 2012--Global X has filed a post-efective amendment, registration statement with the SEC for the
Global X SuperIncome ETF
Global X SuperIncome Preferred ETF and
Global X SuperIncome REIT ETF
view filing
Source: SEC.gov
ProShares files with the SEC
February 10, 2012--ProShares has filed a post-effective amendment, regfistration statement with the SEC for ProShares German Sovereign / Sub-Sovereign Debt ETF.
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Source: SEC.gov
CME to Extend Corporate Debt Collateral to Rate Swaps Next Month
February 10, 2012--CME Group Inc., owner of the world's largest futures market, will extend the use of corporate debt it accepts as collateral to interest-rate swaps beginning March 12.
While the Chicago-based company’s clearinghouse already accepts corporate bonds to back futures trades, it will now allow users to post as much as $3 billion in bonds to back rate swaps, said a notice sent to customers yesterday. The bonds will need at least an A rating from a nationally recognized statistical rating organization and be denominated in dollars, among other requirements, CME Group said on its website.
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Source: Bloomberg Business Week
Goldman subprime bet highlights Volcker debate
February 10, 2012--Goldman Sachs Group Inc's purchase of a $6.2 billion portfolio of subprime bonds on Wednesday illustrates the difficulty regulators may have in stopping banks from making bets with their own money.
Goldman purchased the portfolio from the Federal Reserve Bank of New York, which is selling mortgage securities acquired in 2008 through the bailout of American International Group Inc .
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Source: Reuters
France signals nine eurozone states ready to trigger FTT
February 9, 2012--French Finance Minister Francois Baroin signalled Tuesday that nine eurozone governments are ready to press ahead with the introduction of a Paris-inspired financial transactions tax.
Baroin's office said the minister had written to the European Union's current Danish presidency asking for examination of a draft law championed by French President Nicolas Sarkozy to be examined by the summer.
The fact that nine countries are signatories to the letter is highly significant, as it paves the way for a special provision of the EU's Lisbon Treaty that allows at least one third of the EU's member states to trailblaze new laws by themselves.
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Source: EUbusiness
Commodity Futures Trading Commission Votes to Establish a New Subcommittee of the Technology Advisory Committee (TAC) to focus on High Frequency Trading
New Subcommittee on Automated and High Frequency Trading is Seeking Nominations for Members
February 9, 2012--Commissioner Scott D. O'Malia, the chairman of the Technology Advisory Committee (TAC), announces that the Commission has voted to establish a Subcommittee on Automated and High Frequency Trading tasked with developing recommendations regarding the definition of high frequency trading ("HFT") in the context of the larger universe of automated trading.
This definition of HFT is anticipated to serve as an initial step towards assessing the presence and impact of HFT in CFTC regulated markets for consideration of appropriate regulatory and policy responses.
Since its inaugural meeting, the TAC has focused on one of the most important technological evolutions in trading behavior: automated trading. This shift in terms of speed and volume has challenged the exchanges’ and the Commission’s ability to ensure market integrity and safeguard against market misfires such as flash crashes.
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Source: CFTC.gov
ProShares Launches the First 10 Year Breakeven Inflation ETFs
February 9, 2012--ProShares, the nation's fourth most successful exchange traded fund (ETF) company,1 today announced the launch of ProShares UltraPro 10 Year TIPS/TSY Spread and ProShares UltraPro Short 10 Year TIPS/TSY Spread, the first ETFs linked to 10 year breakeven inflation. Breakeven inflation (BEI) is a widely followed measure of inflation expectations.2
UINF seeks to provide 3x the daily performance of the Dow Jones Credit Suisse 10-Year Inflation Breakeven Index, before fees and expenses. SINF seeks to provide -3x the daily performance of the Dow Jones Credit Suisse 10-Year Inflation Breakeven Index, before fees and expenses. The ETFs list on NYSE Arca today.
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Many investors carefully watch 10 year breakeven inflation but have not had access to a liquid and transparent way to act on their views," said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares' investment advisor. "Now, for the first time, investors can try to take advantage of swings in 10 year inflation expectations with an ETF.”
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Source: ProShares
