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SEC Proposes Liquidity Management Rules For Mutual Funds And ETFs
September 22, 2015--The Securities and Exchange Commission today voted to propose a comprehensive package of rule reforms designed to enhance effective liquidity risk management by open-end funds, including mutual funds and exchange-traded funds (ETFs).
"Promoting stronger liquidity risk management is essential to protecting the interests of the millions of Americans who invest in mutual funds and exchange-traded funds," said SEC Chair Mary Jo White. "These significant reforms would require funds to better manage their liquidity risks, give them new tools to meet that requirement, and enhance the Commission's oversight."
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Source: SEC.gov
'Flash Boys' Heroes Ask For Stock Exchange Status
IEX applies to convert into an exchange like NYSE, Nasdaq
Move could help boost its market share from about 1.4%
September 16, 2015--The heroes of Michael Lewis's ""Flash Boys" are officially amping up their quest to stamp out unfairness in the U.S. stock market.
Brad Katsuyama's IEX Group Inc. has asked for the U.S. government's permission to convert into a stock exchange, a move that would put it on equal footing with the New York Stock Exchange and Nasdaq Stock Market.
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Source: Bloomberg
CBO-Monthly Budget Review for August 2015
September 8, 2015--The federal government's budget deficit amounted to $528 billion for the first 11 months of fiscal year 2015, CBO estimates.
That deficit was $61 billion smaller than the one recorded during the same period last year. Revenues and outlays were both higher than last year's amounts, by 8 percent and 5 percent, respectively. Adjusted for shifts in the timing of certain payments (which otherwise would have fallen on a weekend), the deficit for the 11-month period decreased by $42 billion.
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Source: Congressional Budget Office (CBO)
Direxion Announces Date Extension to October 1st for Reverse Share Splits of Six Leveraged ETFs
September 2, 2015--Direxion Investments has announced it will extend the date for executing reverse share splits for six of its leveraged exchange-traded funds ("ETFs") to October 1, 2015.
The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined below.
Direxion will execute reverse splits of the issued and outstanding shares of the...
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Source: Direxion Investments
New ETF Offers Exposure to Emerging Markets Excluding China
September 2, 2015--Emerging Global Advisors (EGA) today launched its EGShares EM Core ex-China exchange-traded fund (ETF).
The new fund (TICKER: XCEM) provides broad exposure to emerging markets excluding China and Hong Kong, allowing investors to preserve or supplement emerging market portfolios without increasing their exposure to China.
"In today's market environment, some investors have noted that China comprises a significant portion of broad-based emerging market benchmarks.
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Source: Emerging Global Advisors
Brokers fume as U.S. looks to protect investors from expensive duds
September 1, 2015--For most people saving for retirement, buying a non-tradeable real estate investment trust that charges fees and commissions of 11 percent or more doesn't sound like a good deal.
But for a growing number of stockbrokers in a corner of the securities industry known as "independent" broker-dealers, such products are a big part of their income and their firms' revenue.
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Source: Reuters
State Street Global Advisors Announces ETF Share Splits
September 1, 2015--State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE:STT), today announced share splits on 10 SPDR ETFs that offer exposure to companies in specific US industries.
With a share split, the aggregate market value of shares outstanding is not impacted. The splits lower the funds' share prices and increase the number of outstanding shares. The Record Date for the share split will be 9/8/2015 and the Pay Date will be 9/10/2015.
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Source: State Street Global Advisors
Horizons launches actively managed global opportunities ETF
August 27, 2015--Actively managed by British Columbia-based Forstrong Global Asset Management, the fund uses flexible tactical allocation among several global asset classes to seek long-term investment returns.
It trades in Canadian dollars but primarily invests in US-listed ETFs.
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Source: etfstrategy.co.uk
WBI Shares Celebrates Anniversary
August 27, 2015--On August 27th, WBI Shares celebrates the first anniversary of the landmark launch of their 10 "true active" alternative ETFs that eclipsed $1 billion dollars on the first trading day.
Now with over $1.5 billion in assets through 7/31/15, WBI Shares ranks #6 in active ETF assets having garnered 7.44% market share1.
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Source: WBI Shares
Global X Funds Expands Distribution Team With Senior Hires
August 25, 2015--Global X Management Company LLC (Global X), the New York-based provider of exchange-traded funds (ETFs), today announced the appointments of Brian Diessner as Head of Sales and Chris Ciompi as Head of Marketing.
Mr. Diessner, joining from BlackRock, will lead Global X's institutional sales operations, bringing with him over 15 years of distribution experience focused on ETFs.
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Source: Global X Funds
