Americas ETP News
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NYSE Euronext Announces Trading Volumes for May 2011
June 8, 2011--NYSE Euronext (NYX) today announced trading volumes for its global derivatives and cash equities exchanges for May 2011[1]. Global derivatives average daily volume (“ADV”) of 10.6 million contracts in May 2011 decreased 20.6% versus the prior year, which benefited from unseasonally strong trading volumes due to heightened market volatility driven by the sovereign debt crisis in Europe. May 2010 was the highest level of derivatives monthly trading volume in 2010.
When compared to the strong first quarter of 2011, global derivatives trading volumes quarter-to-date (ex. Bclear) are running approximately 13% below first quarter 2011 levels. Cash equities ADV declined in May 2011, with European cash ADV decreasing 22.0% and U.S. cash trading volumes decreasing 45.5% from May 2010 levels, but trading volumes at both venues increased when compared to April 2011.
Highlights
NYSE Euronext global derivatives ADV in May 2011 of 10.6 million contracts decreased 20.6% compared to May 2010, but increased 19.3% from April 2011 levels. When compared to the strong first quarter of 2011, global derivatives trading volumes quarter-to-date (ex. Bclear) are running approximately 13% below first quarter 2011 levels.
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Source: NYSE Euronext
U.S. Stocks Decline as Fed’s Bernanke Gives No Hint of New Stimulus Plan
June 8, 2011--U.S. stocks fell a fifth day, the longest slump for the Standard & Poor’s 500 Index in almost a year, as Federal Reserve Chairman Ben S. Bernanke gave no hint of a new round of economic stimulus even as the recovery slows.
Cisco Systems Inc. (CSCO), Bank of America Corp. (BAC) and Hewlett- Packard Co. lost more than 1 percent to lead losses in the Dow Jones Industrial Average. Six of 10 industry groups in the S&P 500 fell, with the index erasing a rally of up to 0.8 percent in the final minutes of trading, as Bernanke gave no indication of a new round of asset purchases known as quantitative easing.
Source: Bloomberg
Dow Jones Indexes Launches Four Bond Indexes for Costa Rica
June 8, 2011--Dow Jones Indexes, a leading global index provider, LVA Indices (LVA), the leading fixed income index and pricing provider in Chile, and Proveedor Integral de Precios (PiP), a leading index and pricing provider in Latin America, today announced the launch of four bond indexes for Costa Rica as part of the Dow Jones LATixx index family.
These indexes are designed to measure the performance of the Costa Rican government’s debt instruments in local currency and U.S. dollars.
The Dow Jones LATixx Indexes are designed to serve as a basis for investment products such as exchange-traded funds, structured products, futures and options.
“As interest in Costa Rica’s growing economy increases, these indexes will offer investors an opportunity to measure the government’s bond market, both in local currency as well as in U.S. dollars,” said Michael A. Petronella, President, Dow Jones Indexes. “These are the first indexes in the series that measures Costa Rica, specifically.”
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Source: Dow Jones Indexes
“Policy Buffets: Plating-Up Efficient and Effective Financial Markets”
Speech of Commissioner Bart Chilton to High Frequency Trading World Amsterdam, 2011, Amsterdam, the Netherlands
June 8, 2011--Be Happy
It’s good to be with you today. I especially want to thank Matthew Pullan for the kind invitation to be here. It’s fitting that we’re here in Amsterdam, home of the world’s oldest stock exchange.
And, you may have heard that just last month, the OECD (Organization for Economic Cooperation and Development) rated the Netherlands as the happiest country in the world. The happiest! That’s just great.
There was a popular song that some of you may recall from 1998, “Don’t Worry, Be Happy” by Bobby McFerrin. In the U.S. “Don’t Worry, Be Happy” rose to number 1 and became song and record of the year. Well, I’m happy to be here in Amsterdam, a great city in the happiest country in the world, to talk a little about global financial regulation and a few cutting edge issues. However, I can’t tell you that there aren’t some reasons to worry. So, I suppose to amend Bobby McFerrin’s don’t worry, be happy for financial markets, I’d say: don’t worry too much, be happy.
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Source: CFTC.gov
DB Global Equity Research: North America-US ETF Market Weekly Review : $14bn drained from ETP AUM on market downturn
June 8, 2011--Low appetite for risky assets remain in place
The market couldn’t take it anymore. As more and more disappointing and softer-than-expected US economic data flooded the markets, investors factored in the new environment and pushed the equity markets down the hill. Equity markets in the US (S&P 500) plummeted by 2.32%.
Last week, total US ETP flows from all products registered $720m of outflows vs $2.2bn of inflows the previous week, setting the YTD weekly flows average at +$2.1bn. US ETP AUM lost about $14bn, closing at $1.073 trillion or 7.9% up YTD.
A closer look at our flows makes more evident that the risk-off trade remains in place. Long-only Equity ETP flows have clearly broken our bullish trend support level of $12bn QTD, while Fixed Income ETP flows keep their momentum and Gold ETP flows remain positive, albeit much smaller.
Long only equity ETPs recorded $2.4bn of outflows last week vs $890m of inflows the previous week. From a geographic allocation perspective, US-focused ETPs concentrated the bulk of the outflows (-$2.3bn), followed by Global and EM ETPs with -$254m, and -$196m, respectively; while DM ex US ETPs recorded inflows of $344m.
Long-only fixed Income ETPs recorded inflows of $1.4bn last week. Sovereign ETPs had $569m inflows, followed by Corporates funds with $406m. Commodity ETPs recorded outflows of $299m. At a sector level, Energy ETPs recorded the largest outflows with $312m. Crude Oil ETPs recorded the largest outflows with $169m, followed by Natural Gas ETPs with $138m.
New Launch Calendar: short and quiet week for ETF launches
There were 2 new ETPs listed in the NYSE Arca during the previous week. The new ETFs will offer exposure to Japanese Mid Cap companies and Farming stocks.
Turnover Review: Floor activity picks up on higher volatility
In spite of the shorter week, total weekly turnover increased by 4.8% to $316bn vs. $301bn in the previous week. The market plunge and increased volatility pushed Equity ETP turnover $14.5bn or 5.6% higher to $276bn. Commodity ETPs turnover was again trimmed as Silver ETP related turnover kept returning to pre-bubble levels, total weekly turnover was $23.6bn last week. Finally, Fixed Income products turnover flourished totaling $13bn at the end of last Friday, about a 30% higher from the previous week.
Assets Under Management (AUM) Review: $14bn drained from ETP assets
Outflows and the market free-fall drained almost $14bn or 1.3% from ETP assets during last week. ETP AUM settled at $1.073 trillion as of the end of last Friday, recording a $78.0bn or a 7.9% increase on YTD basis.
to request report
Source: Deutsche Bank - Equity Research
Vanguard's Canadian funds may be managed - or not
June 7, 2011--Investment giant Vanguard Group Inc. has confirmed the long-anticipated launch of its "Canadian investment business" but it's not yet clear whether it will be offering mutual funds, exchange-traded funds or both.
A press release issued Monday is frustratingly vague about what kinds of products the new Vanguard Canada actually plans to sell, leaving pundits to speculate about its statement that its "initial focus in Canada will be to offer investment products to Canadian investors through investment advisors."
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Source: National Post
Direxion files with the SEC -3 ETFs
June 7, 2011-Direxion has filed a post-effective amendment, registration statement with the SEC for the Direxion NASDAQ-100® Equal Weighted Index Shares (QQQE) and
Direxion NASDAQ Volatility Index Shares (QVOL)
Direxion Wireless Communications Shares
view filing
Source: SEC.gov
Schwab files with the SEC
June 7, 2011-Charles Schwab has filed an application for amended relief with the SEC.
view filing
Source: SEC.gov
FaithShares Shutters 4 Of Its 5 ETFs
June 6, 2011--One of the first family of ETFs aimed at socially responsible investors is planning to close most of its funds by July 15, according to a filing to the SEC.
FaithShares Advisors says it’ll keep open its broadest-based ETF, the Christian Values Fund (FOC). Set to shutter are:
The FaithShares Baptist Values Fund (FZB)
The FaithShares Catholic Values Fund (FCV)
The FaithShares Lutheran Values Fund (FKL)
The FaithShares Methodist Values Fund (FMV)
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Source: Barron
Claymore files with the SEC-2 ETFs
June 6, 2011--Claymore has filed a post-effective amendment, registration statement with the SEC for the Guggenheim Small-Mid Cap BRIC ETF and
the Guggenheim International High Dividend ETF
view filing
Source: SEC.gov
