Americas ETP News
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Scepticism persists on 'ETFs for good'
May 14, 2018--Investors want responsible options but remain concerned about performance.
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Source: FT.com
CME Group signs pact to offer ether reference rate
May 14, 2018--Exchange operator CME Group Inc and digital-currency trading platform Crypto Facilities Ltd on Monday launched a service to provide users access to real-time ether price in dollars.
The reference rate will be based on transactions and order book activity from Kraken and Bitstamp - -two major cryptocurrency exchanges, the company said.
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Source: Reuters
DFS Authorizes Gemini Trust Company to Provide Additional Virtual Currency Products and Services
May 14, 2018--Gemini is the First Qualified Custodian and Exchange to Receive DFS Approval to Offer Trading of Emerging Digital Currency Zcash in New York.
Financial Services Superintendent Maria T. Vullo today announced that the New York State Department of Financial Services has authorized Gemini Trust Company, LLC to offer the custody services and trading of Zcash, Litecoin and Bitcoin Cash, emerging cryptocurrencies, on its virtual currency exchange based in New York City. Cryptocurrencies are alternative decentralized global digital currencies that provide users with a more secure and efficient means of payment.
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Source: Department of Financial Services (DFS)
A Leveraged ETN Play on Europe STOXX 50
May 11, 2018--Fisher Investments has partnered with Credit Suisse to launch an exchange traded note to provide leveraged exposure to the a widely observed European benchmark.
Credit Suisse rolled out the Credit Suisse FI Enhanced Europe 50 ETN (NYSEArca: FEUL), which has a 1.00% expense ratio..
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Source: Nasdaq
Active Alts, Inc. Announces ETF Closure
May 11, 2018--Active Alts, Inc. today announced the scheduled closing and liquidation of the Active Alts Contrarian ETF (the "Fund").
ETF: Active Alts Contrarian ETF
Ticker: SQZZ
CUSIP: 86280R308
The Fund will begin liquidating its portfolio and will invest in cash equivalents until all shares have been redeemed. This process will result in the Fund increasing its cash holdings, which is inconsistent with the Fund's investment objective and strategy. The last date for authorized participants to create and redeem units in SQZZ will be May 25, 2018.
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Source: Active Alts, Inc.
CFTC.gov Commitments of Traders Reports Update
May 11, 2018--The current reports for the week of May 11, 2018 are now available.
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Source: CFTC.gov
ABR Dynamic Funds, LLC's Success Fuels Growth in Headcount, AUM
May 10, 2018--John Mulroy and Stephen Sivillo Join ABR Dynamic Funds as Firm AUM Crosses $50 million.
ABR Dynamic Funds CEO Taylor Lukof today announced that the firm has landed two more experts as performance in its volatility-based liquid alternative strategies continues to shine.
John Mulroy, formerly of Guggenheim Investments, joins ABR in Chicago as Managing Director of ETF Capital Markets, and Stephen Sivillo, formerly of J.P. Morgan Wealth Management, joins ABR in New York as Chief Compliance Officer.
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Source: ABR Dynamic Funds, LLC
SEC Proposes Fiduciary Rule for Broker-Dealers
May 10, 2018--On April 18, concurrently with its publication for comment of a proposed set of enhanced investment adviser regulations,1 the Securities and Exchange Commission (SEC) published a separate proposal related to the conduct standards broker-dealers must comply with when engaging retail customers.
The new Rule 15l-1 under the Securities Exchange Act of 1934, as amended (Exchange Act), also known as "Regulation Best Interest," would require broker-dealers, and natural persons who are associated persons of broker-dealers, to adhere to a "best interest" standard when making certain recommendations to retail customers (Proposal). Compliance with this standard would require broker-dealers to comply with obligations that go beyond current suitability standards. If adopted, the Proposal would result in some of the most sweeping and comprehensive changes to the standard of care requirements for broker-dealers in decades.
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Source: Katten Law
Thompson Hine Update: SEC's NMS Pilot Program of Vital Interest to ETFs
May 10, 2018--On March 14, 2018, the SEC proposed Rule 610T of Regulation NMS to conduct a transaction fee pilot program (Pilot) involving National Market System (NMS) stocks. NMS, the national system for trading stocks in the United States, includes all of the major stock exchanges and other facilities and entities used by broker-dealers to fulfill trade orders for securities, including ETF shares.
The Pilot will subject stock exchange transaction and alternative trading systems fee pricing, including "maker-taker" fee-and-rebate pricing models, to new temporary pricing restrictions across three test groups.
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Source: Thompson Hine
U.S. Weekly FundFlows Insight Report: Weekly Equity Fund Flows Turn Negative Despite the Up Market
May 10, 2018--For the third week in a row investors were net purchasers of fund assets (including those of conventional funds and ETFs), taking in a little more than $8.2 billion.
Despite market gains during the week, fund investors were net redeemers of equity funds (-$231 million) while being net purchasers of money market funds (+$8.2 billion), municipal bond funds (+$167 million), and taxable bond funds (+$86 million) for the fund-flows week ended May 9, 2018.
Market Wrap-Up
During the flows week it appeared investors-at least momentarily-shrugged off their concerns over the ongoing China/U.S. trade talks, the U.S.'s exit from the Iran nuclear deal, and inflation, turning their attention back to the strong Q1 2018 earnings season and the rally in oil prices.
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Source: Thomson Reuters
