Americas ETP News
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BlackRock advances in pursuit of ETFs with non-daily disclosure
May 19, 2014-BlackRock Inc, the largest U.S. provider of exchange-traded funds, has moved a step further toward launching a new breed of ETFs that would be allowed to keep holdings under wraps for months, instead of the daily disclosure now required.
A filing late on Friday from BATS Global Markets, which seeks approval from the U.S. Securities and Exchange Commission to list and trade shares of some funds, is tied to a trust that BlackRock plans to use to launch these so-called "non-transparent" active ETFs.
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Source: Reuters
First Bridge ETF Landscape & Risk Report -May 2014
May 16, 2014--Highlights
Exchange Traded Product (ETP) assets in the US grew 1% in April '14 to $1.76 T.
Most broad asset classes saw a monthly increase in ETP net assets.
Gold (GLD) has outperformed the major asset classes through this calendar year.
Although the VIX Index is still below 15, recent performance has been stronger in
less volatile asset classes, indicating that investors are becoming risk averse.
For evidence that equity markets are forward looking, look no further than countries holding elections. India and Indonesia, two democracies in the midst of elections, are among the best performing emerging markets this year. South Africa, another country in an election year, has also been a strong performer this year. Russian ETFs are among the worst performers as the Ukraine crisis drags on.
request report
Source: First Bridge
FINRA Issues an Interpretation to Clarify the Classification and Trade Reporting of Certain "Hybrid" Securities to FINRA
May 16, 2014--Executive Summary
FINRA is publishing this Notice to provide additional information on how trades in certain securities that have both debt- and equity-like features (hybrid securities) must be reported to FINRA. Specifically, the SEC approved an interpretation regarding the appropriate trade reporting facility to which firms should report transactions in the following three types of hybrid securities: (1) unlisted depositary shares having a liquidation preference of $1,000 or more;
(2) unlisted non-convertible, preferred securities having a liquidation preference of $1,000 or more; and (3) unlisted capital trust securities (also referred to as trust preferred securities) (together, "covered hybrid securities").
view full notice
Source: Finra
Barclays Bank PLC to De-List Nine Canada-Listed ETNs
May 15, 2014--Barclays, nine cross-listed iPath(R) ETNs will cease to trade on the Toronto Stock Exchange, but continue to trade on the NYSE Arca Exchange
May 15, 2014--Barclays Bank PLC ("Barclays") announced today that it has elected to de-list the following nine iPath(R) exchange traded notes (ETNs) from the Toronto Stock Exchange (TSX):
iPath(R) CBOE S&P 500 BuyWrite IndexSM
iPath(R) EUR/USD Exchange Rate ETN
iPath(R) GBP/USD Exchange Rate ETN
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Source: Barclays Bank PLC
Vanguard to launch five new ETFs in Canada
May 15, 2014--Vanguard has revealed plans to broaden its line-up of exchange-traded funds in Canada, with the launch five new ETFs on the Toronto Stock Exchange.
The firm has filed a preliminary prospectus with the Canadian securities regulators for three international equity ETFs and two international bond ETFs.
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Source: etfstrategy.co.uk
Deutsche Bank Starts Invesco (IVZ) at Hold
May 15, 2014--Deutsche Bank initiated coverage on Invesco (NYSE: IVZ) with a Hold rating and a price target of $39.00.
Analyst Brian Bedell said, "Over the long term, we see Invesco as especially well positioned vs. peers given mgmt has built a very diversified product range by virtually every measure, a strong global distribution platform, and a reasonably good presence in most of the stronger growth areas in asset mgmt. However, we think the risk of elevated outflows in the near-to-intermediate term, especially in higher fee equity product in Europe, may weigh on the shares and provide a better entry point."
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Source: streetinsider.com
Colombia Prepares to Meet Development Challenges
Enhancing Sustainability in the Fiscal Framework
May 15, 2014--Challenge
Colombia's considerable reliance on oil revenues, relatively high poverty and inequality levels, high exposure to natural disaster risk, and a relatively complex political economy represent major challenges to making the Government's fiscal framework sustainable. At the same time, sustaining growth in the longer run needs smart investments in infrastructure, health, and education without risking fiscal and debt sustainability.
Solution
The Fiscal Sustainability and Growth Resilient Development Policy Loan series supported a strong program of reforms to strengthen Colombia’s fiscal position. Reforms included the implementation of a Fiscal Rule Law in 2011 that defines an adjustment path for the structural budget deficit.
view moreP>view the Fiscal policy in Colombia : tapping its potential for a more equitable society
Source: World Bank
Invesco PowerShares to Launch Multi-Strategy Alternative ETF
May 14, 2014--Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), today announced the anticipated listing of the PowerShares Multi-Strategy Alternative Portfolio (LALT) on May 29, 2014 on the NASDAQ Stock Market, LLC. LALT is an alternative ETF designed to help investors achieve lower portfolio volatility and enhance risk-adjusted returns.
"One of the primary goals for investors that use alternative strategies is to minimize exposure to equity and bond markets, and to achieve better risk-adjusted returns compared to portfolios consisting only of traditional asset classes," said Dan Draper
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Source:Invesco PowerShares Capital Management LLC
NYSE Arca-1 ETV Launch-Merk
May 14, 2014--NYSE Euronext is pleased to announce that on Friday, May 16, 2014, the following ETV will be listed on NYSE Arca and will begin trading as a new issue:
Security Name: Merk Gold Trust
CUSIP: 590055 10 9
Trading Symbol: OUNZ
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Source: NYSE Arca
BlackRock signals bond trading shake-up
May 14, 2014--BlackRock, the world's largest asset manager, is teaming up with electronic trading hub Tradeweb in a shake-up for US bond and derivatives markets, supported by Wall Street banks.
The alliance announced on Wednesday will focus on boosting trading...
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Source: FT.com
