Americas ETP News
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Canadian securities regulators seek comment on the internalization of trade orders
March 12, 2019--The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) today published for comment the Joint CSA/IIROC Consultation Paper 23-406 Internalization within the Canadian Equity Market. The consultation paper seeks feedback in response to concerns regarding the internalization of orders within the Canadian equity market.
Internalization is generally considered to relate to situations where a trade is executed with the same dealer as both the buyer and the seller.
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Source: Canadian Securities Administrators (CSA)
First Trust Nasdaq Smartphone Index Fund Announces Changes to Investment Objective, Fund Name and Ticker Symbol
March 12, 2019--First Trust Nasdaq Smartphone Index Fund (Nasdaq: FONE) (the "Fund"), an exchange-traded index fund and a series of First Trust Exchange-Traded Fund II (the "Trust"), announced today that the Board of Trustees ("Board") of the Trust has approved changes to the Fund's investment objective. On or around May 29, 2019, the Fund will seek investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the Indxx 5G & NextG Thematic Index (the "New Index").
Currently, the Fund seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the Nasdaq CTA Smartphone Index. The New Index is expected to be composed of up to 100 securities issued by companies that have devoted, or have committed to devote, material resources to the research, development and application of fifth generation (5G) and next generation cellular technologies.
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Source: First Trust
2 ETFs focused on Japan launched by iShares
March 11, 2019--BlackRock's iShares has introduced two exchange-traded funds with different approaches to exposure to Japanese equities.
The iShares MSCI Japan Equal Weighted ETF holds a portfolio of Japanese equities that are equally weighted, while the iShares MSCI Japan Value ETF applies a value strategy to investing.
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Source: Smartbrief
Invesco celebrates 20th anniversary of QQQ
March 11, 2019--Invesco has celebrated the twentieth anniversary of the launch of the Invesco QQQ, its giant Nasdaq 100 ETF.
Introduced on 10 March 1999, QQQ has become the sixth largest ETF globally,with $66 billion in assets under management, and has one of the longest performance histories available in an ETF.
"Invesco is proud of the 20 years of innovation that have been marshaled through the Invesco QQQ and the access it has provided investors to pioneering companies that impact each of us daily," said Dan Draper, Managing Director, Global Head of Invesco ETFs.
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Source: etfstrategy.com
JP Morgan is about to launch the lowest-fee way to bet on the entire US stock market
March 11, 2019--J.P. Morgan is about to launch the JPMorgan BetaBuilders U.S. Equity ETF with a fee of 0.02 percent.
That makes the broad U.S. stock market fund cheaper than similar ETFs from Vanguard, Schwab and BlackRock's iShares.
Schwab and iShares had offered the cheapest U.S. stock market ETFs, charging 0.03 percent .
J.P. Morgan has grown to become one of the largest ETF companies in only a few years, primarily by selling ETFs to its own clients.
J.P. Morgan isn't going to zero fee, but it is about to launch the lowest-fee exchange-traded fund yet offering exposure to the U.S. stock market.
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Source: cnbc.com
Lipper U.S. Weekly FundFlows Insight Report: Funds Post Net Inflows Paced by Money Market Funds
March 11, 2019--Lipper's fund asset groups (including both mutual funds and ETFs) took in almost $20.3 billion in net new money for the fund-flows trading week ended Wednesday, March 6. Net inflows were driven by money market funds (+$28.0 billion), while municipal bond funds contributed $798 million to the total. Equity funds (-$7.0 billion) and taxable bond funds (-$1.5 billion) both saw money leave their coffers.
The net negative flows for taxable bond funds broke a streak of eight consecutive weekly net inflows.
Market Overview
The major equity indices all finished down for the fund-flows trading week. The Dow Jones Industrial Average, S&P 500 Index, and the NASDAQ Composite Index fell 1.20%, 0.75%, and 0.64%, respectively.
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Source: Refinitiv
Auour Launches Instinct Family of Downside Protection Strategies on Integrated Advisors Network's Platform
March 11, 2019--Building on Integrated's 'supported independence' business model, Auour is providing an investment solution for advisors that want to upgrade to the next generation of downside protection.
Auour Investments announced that their Instinct(C) family of strategies is now available to advisors affiliated with Integrated Advisors Network (Integrated).
The Instinct family of strategies is built using low-cost, passively-based ETFs that strive to protect capital in times of duress without the need to sacrifice performance in rising markets. With the Auour Regime Model (ARM(C)) at its core, the Instinct family will allow those advisors using Integrated's platform to gain access to the next generation of downside protection.
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Source: Auour Investments
CFTC.gov Commitments of Traders Reports Update
March 8, 2019--The current reports for the week of March 8, 2019 are now available.
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Source: CFTC.gov
SEC moves to change broker-quote rule called susceptible to penny-stock fraud
March 8, 2019--The US Securities and Exchange Commission has taken the first step to changing a longstanding broker-quote rule to try to protect individual investors without harming capital formation in the wake of numerous penny-stock trading suspensions.
SEC Chairman Jay Clayton said today he has asked staff to "promptly" recommend modifications of the so-called piggyback exception that lets multiple brokers provide quotes on a company that has no recent financial information.
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Source: https://mlexmarketinsight.com
SEC Launches Major Review of Equity Trading Rules
March 8, 2019-Regulatory framework must evolve, chairman says in speech
Measures that were positive in 2005 may no longer be, he says
The U.S. Securities and Exchange Commission is starting a broad review of rules that have underpinned trading on the New York Stock Exchange and Nasdaq markets since 2005, according to the agency's chief.
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Source: Bloomberg
