Americas ETP News
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Deutsche Bank Sanctioned for Misleading Buyers on Bond Sales
February 12, 2018--Lender agrees to pay $4.5 million to settle SEC's allegations
Bank's former CMBS head trader Ben Solomon also sued by agency
Deutsche Bank AG agreed to pay about $4.5 million to settle a U.S. regulator's allegations that it misled clients about how much bonds backed by commercial mortgages were worth, earning the lender bigger profits than it should have made.
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Source: Bloomberg
CME to Patent System for Seamless Blockchain Rule Changes
February 12, 2018--CME Group may be looking at ways for developers to modify a blockchain's rules without requiring consensus from all of the network's nodes, new patent filings show.
It's a key need for such systems, such as those that form part of airline reward points programs and other applications in which a blockchain is used to store and maintain information in real time, the application's authors write.
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Source: coindesk.com
VIX Manipulation Costs Investors Billions, Whistle-Blower Says
February 12, 2018--Flaw lets traders whip VIX around without trading, letter says
Wild trading session last week turned spotlight on Cboe index
A whistle-blower told U.S. regulators that a scheme to manipulate the VIX, the volatility gauge thrust into the spotlight last week during a wild trading session, costs investors hundreds of millions of dollars a month.
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Source: Bloomberg
Renaissance Capital Scheduled U.S. IPOs
February 9, 2018--Scheduled U.S. IPOs-Week of 02/12/18
Leo Holdings (LHC.U)-United Kingdom
Motus GI Holdings (MOTS)-Israel
Biofrontera (BFRA)-Germany
IPO Index Performance
The Renaissance IPO Index has returned -2.8% so far this year, compared to -3.5% for the S&P 500.
IPOUSA
IPO Activity
There have been 26 IPOs priced so far this year, a +86% change from last year.
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Source: Renaissance Capital
Fidelity Halts Investor Purchases of Three VIX-Focused ETFs
February 9, 2018-Goal is to protect customers from outsized risks, firm says
Customers are being allowed to sell out of positions
Better late than never.
Three days after the implosion of an exchange-traded note betting on low volatility, Fidelity Investments said it had moved to protect investors from these products.
The fund giant is halting customer purchases of three volatility-focused exchange traded funds, Robert Beauregard, a company spokesman, said in an email. They are: ProShares Short VIX Short-Term Futures (SVXY), VelocityShares Daily Inverse VIX Short-Term ETN (XIV), and the VelocityShares Daily Inverse VIX Medium Term ETN (ZIV).
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Source: Bloomberg
CFTC.gov Commitments of Traders Reports Update
February 9, 2018--The current reports for the week of February 6, 2018 are now available.
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Source: CFTC.gov
CFTC.gov Commitments of Traders Reports Update
February 9, 2018--The current reports for the week of February 6, 2018 are now available.
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Source: CFTC.gov
Thomson Reuters-U.S. Fund-Flows Weekly Report: Funds Experience Overall Net Inflows for the Volatile Week
February 9, 2018--Thomson Reuters Lipper's fund asset groups (including both mutual funds and ETFs) took in net-positive flows of $10.7 billion for the fund-flows week ended Wednesday, February 7.
In what appeared to be a flight to safety, net inflows into money market funds (+$30.8 billion), taxable bond funds (+$3.1 billion), and municipal bond funds (+$675 million) offset the net outflows from equity funds (-$23.9 billion).
Market Overview
In a volatile week of trading the Dow Jones Industrial Average and the S&P 500 Index both gave up the lion's share of their respective year-to-date increases. The S&P 500 lost 5.03% and the Dow retreated 4.80% to reduce their gains for 2018 to 0.30% and 0.70%, respectively.
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Source: Thomson Reuters
Canadian digital currency exchange Coinsquare closes record $30 million investment
February 8, 2018--Canada's most secure digital currency platform set to lead industry in 2018.
goNumerical Ltd. (d.b.a. Coinsquare), one of Canada's leading and most secure digital currency exchanges, announced today that it has closed a fully marketed equity financing led by Canaccord Genuity Corp. for gross proceeds of approximately $30 million.
In just over four months Coinsquare has raised a total of $47.3 million, at equity valuations increasing from $30 million to $430 million. The most recent round of funding will be used to fuel a global growth plan and diversification strategy focused on making the platform even more responsive to mainstream customers' needs.
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Source: Coinsquare
Franklin Templeton Adds Four Passive ETFs to Franklin LibertyShares Suite
February 8, 2018--Franklin Templeton Investments today announced the addition of four new passive ETFs to its Franklin LibertyShares(R) lineup-Franklin FTSE India ETF (FLIN), Franklin FTSE Russia ETF (FLRU), Franklin FTSE Asia ex Japan ETF (FLAX) and Franklin FTSE Switzerland ETF (FLSW)-expanding its country and regional passive ETF suite to now include 20 funds.
"Our suite of passive country-and region-specific ETFs has been well received in the marketplace, as clients look for low-cost vehicles that can be used to access different exposures for their portfolios or solutions capabilities," said Patrick O'Connor, head of Global ETFs at Franklin Templeton Investments."
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Source: Franklin Templeton Investments
