Americas ETP News
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The Fed pumps another $105 billion into markets, continuing its streak of capital injections
September 24, 2019--The Federal Reserve on Tuesday sold $105 billion in market repurchase agreements, or repos, in a continued effort to calm money markets and bring interest rates within its intended range.
The bank offered $75 billion in repos expiring overnight and $30 billion in repos expiring in 14 days. Banks bid for more than was available of each repo, signaling strong demand for the government-backed asset.
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Source: businessinsider.com
IEX Exchange to Exit Listings Business
September 23, 2019--Upstart exchange's only listed company decided to jump ship
IEX Group Inc. will abandon its listings effort after the upstart exchange's only listed company decided to jump ship.
The move means that corporate listings will remain an effective duopoly of the New York Stock Exchange and Nasdaq Inc., despite a long effort to break into the business by IEX, whose founders were the heroes of Michael Lewis's 2014 book "Flash Boys: A Wall Street Revolt."
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Source: Wall Street Journal
State Street Global Advisors Expands Low-Cost SPDR(R) Portfolio ETFTM Suite
September 20, 2019--State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced the addition of seven rebranded SPDR ETFs to the SPDR Portfolio suite. Introduced in 2017 and attracting $34.4 billion in new assets in just two years,1 the SPDR Portfolio offering now comprises 22 low-cost ETFs that provide access to a wide range of domestic and international equity and fixed income asset classes.
The seven rebranded funds added to the SPDR Portfolio suite comprise five fixed income and two international equity ETFs, representing $4.4 billion in assets.2 All seven have new names and ticker symbols to align with the SPDR Portfolio ETF suite and three funds have reduced net expense ratios, as detailed below, and the other four were reduced earlier:3
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Source: State Street Global Advisors
CFTC.gov Commitments of Traders Reports Update
September 20, 2019--The current reports for the week of September 17, 2019 are now available.
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Source: CFTC.gov
Global X Launches Cannabis ETF (POTX) To Provide Focused Access to a Burgeoning Theme
September 19, 2019--Global X ETFs, the New York-based provider of exchange-traded funds, announced today the launch of the 15th fund in its Thematic Growth suite, the Global X Cannabis ETF (Nasdaq: POTX).
Tracking the Cannabis Index, POTX aims to provide investors with an efficient tool to access leading companies across the cannabis industry.
By tracking an index that specifically targets companies that attribute at least 50% of their revenue, operating income, or assets from the cannabis industry, POTX aims to offer investors a focused approach to investing in an emerging industry that may benefit from further legalization efforts across North America and the rest of the world.
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Source: Global X ETFs
Financial Regulation and the Federal Budget
February 19, 2019--Financial institutions, such as banks, play a vital role in the economy by channeling funds from investors to households and businesses that need financing. By doing so, such institutions support economic activity, including household consumption and business investment, and thereby contribute to economic growth and job creation.
But instability in the financial industry can spill over into the economy and may even cause severe recessions, as demonstrated by the financial crisis of 2007 to 2009. Financial regulation and government guarantees, such as deposit insurance, are intended to protect consumers and investors and to ensure that the financial system remains stable and continues to make funding available for investments that support the economy.
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Source: Congreaaional Budget Office (CBO)
U.S. stock exchange competition to heat up in 2020 with new entrants
September 19, 2019--At least three new U.S. stock exchanges are expected in 2020, executives from the companies said on Thursday, potentially lowering trading costs as the upstarts try to take business from the incumbents, while also adding complexity to the marketplace.
There are currently 13 U.S. stock exchanges, 12 of which are run by Intercontinental Exchange Inc's (ICE.N) NYSE, Nasdaq Inc (NDAQ.O), and Cboe Global Markets (CBOE.Z). IEX Group runs the only independent exchange.
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Source: Reuters
SEC Adopts New Rules and Amendments under Title VII of Dodd-Frank
September 19, 2019---The Securities and Exchange Commission today announced that it took a significant step toward establishing the regulatory regime for security-based swap dealers by adopting a package of rules and rule amendments under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
These actions establish recordkeeping and reporting requirements for security-based swap dealers and major security-based swap participants and amend the recordkeeping and reporting requirements for broker-dealers. Under these rules, these companies will be required to create and retain fundamental business records to document and track their operations, facilitating the Commission's ability to monitor compliance and reducing risk to the market.
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Source: SEC.gov
Federal Reserve Board and Federal Open Market Committee release economic projections from the September 17-18 FOMC meeting
September 18, 2019--Federal Reserve Board and Federal Open Market Committee has released economic projections from the September 17-18 FOMC meeting.
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Source: federalreserve.gov
Federal Reserve issues FOMC statement
September 18, 2019--Information received since the Federal Open Market Committee met in July indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low.
Although household spending has been rising at a strong pace, business fixed investment and exports have weakened. On a 12-month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed.
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Source: federalreserve.gov
