Americas ETP News
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ISE Holdings Reports Business Activity for May 2015
June 1, 2015--ISE and ISE Gemini combined represent 17.8% of equity options market share, excluding dividend trades.
ISE and ISE Gemini reported a combined ADV of 2.4 million contracts.
Dividend trades made up 1.0% of industry volume in May 2015.
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Source: International Securities Exchange
SEC issues fresh warning to private equity
May 31, 2015--The US regulator has issued a fresh warning to the $3.5tn private equity industry to expect more fines and enforcement actions for overcharging investors with inappropriate fees and expenses.
The Securities and Exchange Commission said there was "still room for improvement" on private equity managers’ fees and expense allocations, while also acknowledging that "some progress" had been made following its warning in 2014 that the industry should expect greater scrutiny from regulators.
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Source: FT.com
Outflow From The Largest US Oil ETF Reached $1 Billion In April-May
May 30, 2015--The biggest U.S. exchange-traded fund (ETF) that tracks oil, the United States Oil Fund, known as USO, is heading for the largest two-month outflow in six years. Investors are worried that it could be the end of crude’s 30 percent rally.
Shareholders of the USO have withdrawn almost $1 billion so far since the beginning of April, Bloomberg reports. The news agency points out that "crude dropped about $12 a barrel after a $1.4 billion exodus from the fund in the two months ended June 2009".
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Source: Emergingequity.com
National Income and Product Accounts Gross Domestic Product: First Quarter 2015 (Second Estimate)
Corporate Profits: First Quarter 2015 (Preliminary Estimate)
May 29, 2015--Real gross domestic product--the value of the production of goods and services in the United States, adjusted for price changes--decreased at an annual rate of 0.7 percent in the first quarter of 2015, according to the "second" estimate released by the Bureau of Economic Analysis.
In the fourth quarter, real GDP increased 2.2 percent.
The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, real GDP increased 0.2 percent.
With the second estimate for the first quarter, imports increased more and private inventory investment increased less than previously estimated.
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Source: Bureau of Economic Analysis (BEA)
This Week's IPO Calendar from Renaissance Capital
May 29, 2015--Renaissance Capital's IPO Calendar-Week of 6/1/2015.
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Source: Renaissance Capital
Lessons from a walk through the ETF graveyard
May 29, 2015--Although the exchange-traded product business is booming,
that doesn't mean a lot of funds aren't being closed, which could be one sign of a healthy market.
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Source: Investment News
BMO Asset Management Announces Proposed Termination of Certain BMO Exchange Traded Funds
May 29, 2015--BMO Asset Management Inc. (the "Manager"), the manager of BMO 2015 Corporate Bond Target Maturity ETF, BMO 2020 Corporate Bond Target Maturity ETF, and BMO 2025 Corporate Bond Target Maturity ETF (the "Funds") announced that it has decided to terminate the Funds on or about August 7, 2015 (the "Termination Date").
Pursuant to the declaration of trust governing the Funds, the Manager may terminate the Funds on not fewer than 60 days' notice to unitholders.
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Source: BMO Financial Group
Banks likely face rule change on physical commodities
May 28, 2015--The Federal Reserve is expected to make public as early as June a proposed rule governing the participation of banks and other financial institutions in the physical commodities business, the Office of Management and Budget said.
Faced with heightened regulatory scrutiny, major banks including..
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Source: SmartBrief
SEC Names Andrew J. Donohue as Chief of Staff
May 28, 2015--The Securities and Exchange Commission today announced that Andrew J. "Buddy" Donohue has been named the agency's chief of staff. Mr. Donohue will replace Lona Nallengara who will leave the agency in June.
As chief of staff, Mr. Donohue will be a senior adviser to the Chair on all policy, management, and regulatory issues.
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Source: SEC.gov
Nasdaq Lists The Global X YieldCo Index ETF
May 28, 2015--Nasdaq announced that Global X Funds will list a new exchange-traded fund (ETF), the Global X YieldCo Index ETF (Symbol:YLCO), which will begin trading on The Nasdaq Stock Market Thursday, May 28, 2015.
"YieldCos are an emerging asset class that meets many of the key investment characteristics investors are looking for, such as high current income, low volatility and the opportunity for dividend growth," said Jay Jacobs, Research Analyst at Global X Funds
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Source: Nasdaq.com
