Americas ETP News
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Legg Mason wants to build 'better', ETFs
June 18, 2015--Legg Mason Inc. has asked U.S. securities regulators for permission to build index-tracking ETFs, a first step toward building its own business after poaching two Vanguard executives.
In a statement Wednesday, Legg Mason said its application is "the next step in building the organizational structure to offer a suite of passively and actively managed ETFs."
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Source: Investment News
AdvisorShares-This Week in Active ETFs: More on Rates & Forensic Scrubbing of Earnings
June 18, 2015--For the week of June 8-June 12
Yes,Markets Were Actually Open Last Week
Macro
Although not truly market moving the most interesting story from last week may have been the announced resignation of Twitter CEO Dick Costolo with the reigns to be taken on an interim basis @jack who is the co-founder of Twitter.
To say Costolo was beleaguered would be an understatement because although there has been growth under his leadership there has been the perception by some that the growth could have been better which led to his being asked at every turn whether he
would remain as CEO and while he always said yes before he obviously changed his mind.
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Source: AdvisorShares
Wall St. watchdog, firms discuss corporate bond market
June 18, 2015--The Financial Industry Regulatory Authority, Wall Street's industry-funded watchdog, said on Thursday it met with other regulators and financial firms to discuss issues that pertain to the corporate bond market.
Those issues included how well the market is serving the needs of investors, traders and dealers and the market's ability to cope with a credit or liquidity event, FINRA said.
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Source: Reuters
Merk Insight: Stop the Fed!?
June 17, 2015--We are concerned the Fed causes both economic and political stability to deteriorate. And, no, this is not about discouraging the Fed to hike rates.
This analysis is about pointing out that the road to hell may be paved with the best of intentions. For the economy to prosper, we need a re-thinking not just at the Fed, but also with some Fed critics. Let me elaborate...
What's wrong?
Central banks have been ever more engaged in the markets. More than seven years after the onset of the financial crisis, we are still arguing whether we can afford interest rates above 0%. Asset prices have been inflated, benefiting those with assets, but doing little for the working man and woman.
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Source: Merk Investments
SEC to Formally Mull NYSE Proposal to Fast-Track Active ETFs
June 17, 2015--Regulators will formally debate whether or not to abide a proposal from the New York Stock Exchange that would fast-track listings of actively managed exchange-traded funds.
NYSE Arca, the biggest U.S. exchange by market share of ETF listings and a unit of Intercontinental Exchange (ICE), asked the Securities and Exchange Commission to amend existing rules and cut out a key, time-intensive step fund companies must undertake to launch active ETFs.
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Source: Barron's
BTIG Expands Global Portfolio and ETF Trading Business with Industry Veterans
Evan Pfeuffer and David Lenahan Join BTIG in New York
June 17, 2015--BTIG, LLC, a global financial services firm specializing in institutional trading, investment banking, research and related brokerage services, announced today that it has expanded its Global Portfolio and ETF Trading business with the addition of Evan Pfeuffer, Managing Director, and David Lenahan, Director.
Based in New York, Mr. Pfeuffer will specialize in developing quantitative strategies and technologies, while Mr. Lenahan will serve as Head of ETF Sales.
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Source: BTIG, LLC
Morningstar Reports U.S. Mutual Fund and ETF Asset Flows for May 2015
June 17, 2015--Morningstar, Inc., a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund (ETF) asset flows for May 2015.
Investors continued to direct money to international-equity and taxable-bond funds in May. International equity led all Morningstar category groups with inflows of $24.0 billion, most of which went to passive strategies. Morningstar estimates net flow for mutual funds by computing the change in assets not explained by the performance of the fund and net flow for ETFs by computing the change in shares outstanding.
Additional highlights from Morningstar's report about U.S. asset flows in May:
Outflows for active U.S. equity funds slowed to $13.0 billion after an April outflow of $18.9 billion that was the category group's largest since July 2011.
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Source: Morningstar, Inc.
Morningstar Reports U.S. Mutual Fund and ETF Asset Flows for May 2015
June 17, 2015--Morningstar, Inc., a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund (ETF) asset flows for May 2015.
Investors continued to direct money to international-equity and taxable-bond funds in May. International equity led all Morningstar category groups with inflows of $24.0 billion, most of which went to passive strategies. Morningstar estimates net flow for mutual funds by computing the change in assets not explained by the performance of the fund and net flow for ETFs by computing the change in shares outstanding.
Additional highlights from Morningstar's report about U.S. asset flows in May:
Outflows for active U.S. equity funds slowed to $13.0 billion after an April outflow of $18.9 billion that was the category group's largest since July 2011.
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Source: Morningstar, Inc.
Direxion Investments Launches First Inverse China A-Shares ETF in the U.S.
CHAD Allows Traders to Hedge China A-Share Exposure
June 17, 2015--Direxion Investments announced today that it has launched the first inverse exchange-traded fund (ETF) in the U.S. tied to China A-shares.
The Daily CSI 300 China A Share Bear 1X Shares (Ticker: CHAD) seeks daily investment results, before fees and expenses, of 100% of the inverse performance of the CSI 300 Index, which consists of 300 market-capitalization-weighted China A-share stocks.
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Source: Direxion Investments
TSX to end trading of ETFs on MOC facility
June 17, 2015--The Toronto Stock Exchange (TSX) will stop trading exchange-traded funds (ETFs) in its market-on-close (MOC) facility as of the end of June.
The TSX indicates in a notice that it has decided to remove ETFs and exchange-traded receipts (ETRs) from its MOC facility effective June 30. The move comes in response to "concerns expressed" by both ETF and ETR issuers as well members of an advisory group on the MOC over the eligibility of ETFs and ETRs.
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Source: Investment Executive
