Americas ETP News
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Vanguard says Europe head Thomas Rampulla to lead US advisor services unit
March 10, 2015--Mutual fund company Vanguard Group said it would move the head of its UK and European operations, Thomas Rampulla, to the United States to head its $1 trillion Financial Advisor Services division by mid-year.
Rampulla, who started at Vanguard in 1988, will join the firm's senior executive team and report to Chief Executive Bill McNabb, who has called Rampulla his top "culture carrier" in the United Kingdom.
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Source: Reuters
BNY Mellon ADR Index Monthly Performance Update-February 2015
March 10, 2015--The BNY Mellon ADR Index Monthly Performance Update-February is now available.
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Source: BNY Mellon
NYSE Sees Progress In Push For Faster Active ETF Listings
March 9, 2015--The New York Stock Exchange's Arca unit has reached a new turning point in its push to speed listing times for actively managed, transparent exchange-traded funds, an exchange official said.
Laura Morrison, head of global index and exchange-traded products at NYSE, said the Securities and Exchange Commission has formally recognized a February filing by NYSE Arca Inc., adding that a March 4 regulatory notice from the SEC was the final stage before such the proposal can be put out for public comment.
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Source: Wall Street Journal
CBO-Monthly Budget Review for February 2015
March 9, 2015--The federal government ran a budget deficit of $386 billion for the first five months of fiscal year 2015, CBO estimates-$10 billion more than the shortfall recorded in the same span last year.
CBO expects that, if lawmakers enact no further legislation affecting spending or revenues, the deficit in 2015 will end up at about $486 billion, roughly the same as the deficit incurred in 2014.
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Source: Congressional Budget Office (CBO)
CBO-Updated Budget Projections: 2015 to 2025
March 9, 2015--As it typically does after the President's budget is released, CBO has updated the baseline budget projections it published earlier in the year. CBO now estimates that if the laws that currently govern federal taxes and spending generally remain in place, the federal budget deficit will total $486 billion in fiscal year 2015, about the same as the shortfall posted in 2014.
However, because the nation's output (its gross domestic product, or GDP) has increased, the deficit projected for 2015 represents a slightly lower percentage of GDP—2.7 percent—compared with 2.8 percent last year. In 2009, the deficit peaked at 9.8 percent of GDP; as recently as 2011 it was equal to 8.5 percent of GDP (see figure below).
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Source: Congressional Budget Office (CBO)
Toronto Stock Exchange Celebrates 25 Years of Listing and Trading Exchange Traded Funds
The world's first ETF was launched on TSX in 1990
March 9, 2015--2015 marks the 25th anniversary of the creation of the world's first Exchange Traded Fund (ETF).
To celebrate this milestone, as well as the rapid growth of the Canadian and global ETF markets, Atul Tiwari, Managing Director, Vanguard Investments Canada Inc. & Vice Chair, Canadian ETF Association (CETFA), members of CETFA and ETF providers joined Ungad Chadda, Senior Vice President, Toronto Stock Exchange (TSX) to open the market on TSX today.
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Source: TMX Group
Women In ETFs Take the NYSE
March 9, 2015--The ETF industry's first women's group, with eight chapters
in the United States, Europe, Canada and its newest chapter in Asia Pacific, rang the NYSE's opening bell this
morning across the globe to commemorate International Women's Day 2015!
This morning, Women in ETFs (WE) gathered at The New York Stock Exchange to celebrate International Women's
Day by ringing the opening bell. As a global nudge for advancing and recognizing women, WE partnered with nine stock exchanges all across the globe to mark the economic,
political, and social achievements of women.
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Source: mfwire.com
Charles Schwab Launches Schwab Intelligent Portfolios(TM)
Sophisticated, automated advice and money management with no commissions, advisory or account service fees
March 9, 2015--Charles Schwab today launched a fully automated investment advisory service, Schwab Intelligent Portfolios(TM), the only investment advisory service using sophisticated computer algorithms to build, monitor,
and rebalance diversified portfolios based on an investor's stated goals, time horizon and risk tolerance-without charging any advisory fees, commissions or account services fees.
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Source: MarketWatch
Vanguard to Make It Easier to Invest in Munis
The fund giant's ETF would have lower expenses,which could be a draw
March 8, 2015--The municipal-bond market isn't always the easiest to navigate. But the simple, cheap choice of investing in muni bonds through ETFs is about to get a boost.
Already, exchange-traded funds that focus on tax-exempt municipals make it possible to get a diversified holding of such bonds with a single trade, at low cost. That is a lot less labor-intensive than creating a portfolio with individual securities.
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Source: Wall Street Journal
Jefferies reportedly cuts commodities-futures brokerage staff
March 7, 2015--Investment bank Jefferies Group LLC [JGLL.UL], owned by Leucadia National Corp (LUK.N), has cut about 20 jobs in its commodities futures brokerage in New York and Chicago, three sources familiar with the cuts said on Friday.
People affected by the move were let go on Thursday, the sources told Reuters, in what was described as a sweep that affected employees who handled energy, softs and metals markets.
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Source: Reuters
