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CBO-Monthly Budget Review for April 2016
May 6, 2016--The federal budget deficit was $352 billion for the first seven months of fiscal year 2016, the Congressional Budget Office estimates-$69 billion more than the shortfall recorded in the same span last year.
Outlays were 4 percent higher than they were at this time last year and receipts were 1 percent higher. If not for shifts in the timing of certain payments (which otherwise would have occurred on a weekend), the deficit for the first seven months of fiscal year 2016 would have been $28 billion larger than it was last year.
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Source: Congressional Budget Office (CBO)
Citigroup Announces Early Redemption of its C-Tracks ETN Based on the Citi Volatility Index Total Return
May 6, 2016--Citigroup Inc. announced today that it will early redeem its C-Tracks Exchange-Traded Notes Based on the Citi Volatility Index Total Return (NYSE Arca: CVOL) Due November 12, 2020 on May 24, 2016.
Citigroup expects to deliver notice via The Depository Trust Company of the early redemption of CVOL no later than May 10, 2016. Investors will receive a cash payment per ETN equal to the sum of the index exposure and notional cash amount determined over the Mandatory Redemption Valuation Period.
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Source: Citigroup Inc.
New: First Asset MSCI Canada Quality Index Class ETF (TSX: FQC)
May 4, 2016--First Asset Investment Management Inc.("First Asset") is pleased to announce the launch of First Asset MSCI Canada Quality Index Class ETF (the "Fund")(TSX:FQC): joining First Asset's series of tax efficient ETFs and introducing a new factor strategy into the family of First Asset Smart Beta ETFs.
The Advantage of Blue Chip Stock Selection through Smart Beta
FQC offers investors a way to participate in high quality, blue chip stocks by replicating, to the extent possible, the MSCI Canada Quality Index (the "Canada Quality Index").
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Source: First Asset
Convergex ETF Direct Platform Continues To Gain Momentum
May 4, 2016--Convergex, an agency-focused global brokerage and trading related services provider, announced today that its ETF Direct platform has been experiencing significant volume growth and attracting key market participants.
Since its launch earlier this year, over 12 million shares have traded with a notional value of approximately $700 million.
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Source: Convergex Group
State Street Global Advisors Appoints Bobby Eng as Head of SPDR ETF Business Development in Canada
Appointment Strengthens SSGA's SPDR ETF Business in Canada
May 4, 2016--State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE:STT), today announced the appointment of Bobby Eng as head of SPDR ETF Business Development in Canada.
In this newly created role, Mr. Eng will be responsible for strengthening SSGA's SPDR ETF business in Canada.
"Bobby’s experience and the depth of his knowledge and relationships across the Canadian ETF landscape are a valuable addition to our institutional ETF efforts"
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Source: State Street Corporation
Toronto Stock Exchange Home to Over 400 Exchange Traded Funds
Market open ceremony to celebrate new milestone
May 4, 2016--Toronto Stock Exchange (TSX) today announced that it has surpassed a significant milestone with more than 400 exchange traded funds (ETFs) now listed.
Since the beginning of 2011, the number of ETFs listed on TSX has more than doubled, bringing the total market capitalization to approximately $106 billion as of April 30, 2016.
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Source: TMX Group
Bats Welcomes REX Shares as New Issuer to The Bats ETF Marketplace
May 3, 2016--Two New REX ETFs Begin Trading Today; Ten Issuers Now Have ETFs Listed on The Bats ETF Marketplace
Bats Global Markets, Inc. (Bats: BATS), the #1 U.S. market for the trading of exchange-traded funds (ETFs), today welcomed REX Shares as a new issuer to The Bats ETF Marketplace with the launch of two new ETFs.
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Source: Bats Global Markets, Inc.
Goldman Sachs Announces Simplified Pricing Structure for ActiveBeta(R) ETFs
May 2, 2016--Goldman Sachs Asset Management (GSAM) today announced that it will implement changes to its fee and fee waiver arrangements for its ActiveBeta(R) Exchange-Traded Funds (ETFs).
Effective May 1, 2016, a unitary management fee structure, together with a reduction in the management fee rate, will be implemented for the Goldman Sachs ActiveBeta(R) ETFs.
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Source: Goldman Sachs
CME Group and Crypto Facilities Announce Launch of Bitcoin Reference Rate and Real-Time Index
May 2, 2016--CME Group, the world's leading and most diverse derivatives marketplace, today announced it will collaborate with Crypto Facilities Ltd., a digital assets trading platform, to develop two new products planned to launch in the fourth quarter of 2016:
CME CF Bitcoin Reference Rate (BRR), which will provide a final settlement price in U.S. dollars at 4 pm London time on each trading day, and CME CF Bitcoin Real Time Index (RTI), which will allow users real-time access to bitcoin prices.
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Source: CME Group
Itiviti AB:Sea Otter Selects Tbricks by Itiviti to Grow ETF Business
Sea Otter Securities Group LLC deploys Tbricks by Itiviti for ETF market making on NYSE Arca
May 2, 2016--Itiviti, a world-leading technology provider for the capital markets industry, today announced that Sea Otter Global Ventures LLC, a private investment firm based in New York, has chosen the Tbricks by Itiviti platform for ETF market making on NYSE Arca.
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Source: Itiviti
