Americas ETP News
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Federal Reserve Fines Goldman Sachs $36 Million in Document Leak
August 3, 2016--The Federal Reserve took action on Wednesday against Goldman Sachs and one of its former executives, escalating a long-running investigation into a leak of confidential government information.
The action, which forced Goldman to pay a $36.3 million penalty, stemmed from an incident in 2014, when a junior Goldman banker took confidential information from the Federal Reserve Bank of New York.
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Source: NY Times
CFTC.gov Swaps Report Update
August 3, 2016--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
SEC looks to Equity Committee to refine circuit-breaker rules
August 3, 2016--Mary Jo White asked equity committee to consider refinements to circuit breakers, which could exacerbate volatility if triggered.
The Securities Exchange Commission (SEC) has asked members of the Equity Market Structure Committee to refine rules on market-wide circuit breakers.
SEC chair, Mary Jo White, said the challenge with implementing market-wide circuit breakers is that they must be optimised for a variety of markets and volatility events.
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Source: thetradenews.com
Deutsche X-trackers lowers fees across suite of US-listed China ETFs
August 2, 2016--Europe's second largest provider of exchange-traded funds Deutsche Asset Management (Deutsche AM) has reduced the total expense ratios (TERs) on four of its Deutsche X-trackers ETFs focused on targeting Chinese equity exposure.
The Deutsche X-trackers Harvest CSI 300 China A-Shares ETF (NYSE Arca: ASHR) has reduced its TER from 0.80% to 0.65%.
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Source: etfstrategy.co.uk
Bats grows options business with launch of auctions
August 2, 2016--Options auctions -'BAM' -set to launch in November this year.
Bats Global Markets announced it is set to extend its options business in the US with the launch of 'Bats Auctions Mechanism', otherwise known as BAM.
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Source: thetradenews.com
VXUP & VXDN PREMIUMS AND DISCOUNTS
the unique relationship between trading prices and net asset values
August 2, 2016--VXUP and VXDN have a unique and important relationship between their trading prices and net asset values (NAVs) which differs from other ETFs.
In most ETFs, deviations between trading prices and NAVs indicate that an "in kind" arbitrage is possible, and persistent deviations may indicate a stalled or failed arbitrage process; VXUP and VXDN are different. We refer to arbitrage as trading in two nearly identical securities where the lower price security is purchased and the higher priced security is sold, and a profit is realized through the difference in prices.
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Source: AccuShares
Brazil economists trim forecast for rate hikes
August 2, 2016--Brazil economists forecast the central bank will be less aggressive when cutting interest rates this year as inflation remains sticky.
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Source: FIN24
Statement Regarding Progress on the Review of the U.S. Treasury Market Structure since the July 2015 Joint Staff Report
August 2, 2016--The U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, the U.S. Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission (Joint Member Agencies) today issued this statement to highlight significant actions taken since the issuance last July of their Joint Staff Report on the U.S. Treasury market, including the recently signed memorandum of understanding to share information on U.S. Treasury cash and related derivative markets among the agencies and their plans to host a second conference on October 24 to continue progress on these efforts.
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Source: SEC.gov
AdvisorShares--Weekly Market Review -There Is No Playbook
August 1, 2016--Highlights of the Prior week of July 25-July 29
Macro
In this past week's AdvisorShares AlphaCall, Bob Boyd from
Pacific Asset Management said that there was no playbook for
how to come out of the type of recession that occurred in 2008.
The various monetary and fiscal policies implemented have of
course helped, there has been a recovery but the strength of
that recovery, based on certain metrics, has been historically
weak including when measured by GDP. Q2 GDP of coursereporte d on Friday at 1.2% annualized growth which was a
wide miss and Q1 was revised down to 0.8%.
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Source: AdvisorShares
CBOE Holdings Reports July 2016 Trading Volume
August 1, 2106--Total Volume of 94.4 Million Contracts
Total ADV Down 2% from July 2015
CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that July average daily volume (ADV) for options contracts traded on Chicago Board Options Exchange(R) (CBOE(R)) and C2 Options Exchange (C2), and futures contracts traded on CBOE Futures Exchange (CFE(R)) was 4.7 million contracts, a decrease of 2 percent from July 2015 and 9 percent from June 2016.
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Source: CBOE
