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CFTC's Division of Swap Dealer and Intermediary Oversight Provides Additional Guidance to Futures Commission Merchants and Depositories Regarding Procedures for New Filing Requirements
February 5, 2014--The U.S. Commodity Futures Trading Commission's (Commission or CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) issued a notice today to provide market participants with additional guidance regarding the procedures for submitting to the Commission
the notices and reports required under new and amended regulations the Commission adopted November 1, 2013.
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Source: CFTC.gov
NASDAQ OMX Monthly Index Performance Report-
February 5, 2014--The NASDAQ OMX Index Monthly Performance Report (as of 01/29/13)is now available.
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Source: NASDAQ OMX
Schwab rolls out 401(k) platform using exchange-traded funds
February 5, 2014--Charles Schwab Corp is taking broader aim at the retirement market with a new 401(k) platform that will allow participants to invest 100 percent of their plan in low-cost exchange-traded funds.
Schwab, which already has 401(k) programs using traditional mutual funds, said the new all-ETF platform is designed to reduce investment expenses for investors. An ETF on the new platform, for example, would cost roughly $7 to $10 for every $10,000 invested, while an index mutual fund might cost $14 to $15 for every $10,000 invested and an actively managed mutual fund might cost $70 for every $10,000 invested.
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Source: Reuters
Morgan Stanley-ETF Fund Flows-ETFs Exhibited Net Inflows of $59.6 Billion in 4Q13
February 4, 2014--ETFs Exhibited Net Inflows of $59.6 Billion in 4Q13
There were 48 new ETFs listed in the US in the fourth quarter of
2013 and three new providers entered the market.
For 2013, there
were 143 ETF launches compared to 50 liquidations. An additional 25
ETFs have been launched since the end of 2013 and, as of 1/28/14, there
were 43 issuers with 1,357 ETFs listed in the US.
Net inflows into US-listed ETFs were $59.6 billion during 4Q13. This
is well above the average quarterly rate of net inflows over the past three
years of $40.4 billion, but is comparable to the $59.4 billion of net
inflows in the fourth quarter of 2012.
For 2013, net inflows were $180.8 billion in assets falling short of 2012's net inflows of $192.8 billion, but a strong year nonetheless.
The largest net cash inflows this past quarter went into US Large- Cap ETFs. These ETFs had net cash inflows of $29.5 billion this past quarter, bringing net inflows for 2013 to $44.8 billion. International - Developed ETFs had the next highest inflows this past quarter at $23.4 billion, bringing net inflows in 2013 to $62.8 billion, the most of any segment. Interest in broad Europe and Japan were a driver of the flows within this segment.
Commodity ETFs had the largest net outflows in the fourth quarter of 2013. Net cash outflows from these ETFs were $7.1 billion this past quarter. Notably, one ETF providing exposure to gold had net outflows of $4.4 billion and was the main driver of the weakness in this segment. For 2013, net outflows were $31.1 billion for the segment. The only other segment to post net outflows for the full year was International- Emerging, which had net outflows of $10.5 billion. US ETF industry assets of over $1.6 trillion. Despite the growth of the ETF market, it remains concentrated with three providers and 20 ETFs accounting for over 80% and 41% of industry assets, respectively.
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Source: Morgan Stanley
Treasury Announces Marketable Borrowing Estimates
February 4, 2014--The U.S. Department of the Treasury today announced its current estimates of net marketable borrowing for the January - March 2014 and April - June 2014 quarters:
During the January -March 2014 quarter, Treasury expects to issue $284 billion in net marketable debt, assuming an end-of-March cash balance of $130 billion.
This borrowing estimate is $19 billion higher than announced in October 2013. The increase in borrowing relates primarily to changes in cash balance assumptions [[1] offset by higher receipts.
During the April -June 2014 quarter, Treasury expects to pay down $40 billion in net marketable debt, assuming an end-of-June cash balance of $150 billion.
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Source: US Department of the Treasury
UBS Declares Coupon Payments On Seven Monthly Pay ETRACS Exchange-Traded Notes
February 4, 2014--UBS Investment Bank today announced coupon payments for seven ETRACS exchange-traded notes (the "ETNs"), all traded on the NYSE Arca.
The relevant coupon information is provided in the table below:
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Source: UBS
S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices
A Deletion From The S&P/TSX SmallCap Index
February 4, 2014--S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
The shareholders of Aastra Technologies Limited (TSX:AAH) have approved an Arrangement Agreement with Mitel Networks Corporation (TSX:MNW). Aastra Technologies shareholders will receive a combination of cash and Mitel shares for each share held.
Aastra Technologies will be removed from the S&P/TSX SmallCap Index after the close of trading on Tuesday, February 4, 2014.
Source: S&P Dow Jones Canadian Index Services
CME Group Volume Averaged 12.9 Million Contracts per Day in January 2014, Up 13 Percent from January 2013
Equity index volume up 24 percent
Interest rate volume up 18 percent
Energy volume up 10 percent
February 4, 2014--CME Group, the world's leading and most diverse derivatives marketplace, today announced that January 2014 volume averaged 12.9 million contracts per day, up 13 percent compared with January 2013.
Total volume for January 2014 was more than 271 million contracts, of which 85 percent was traded electronically.
CME Group interest rate volume averaged 6.3 million contracts per day in January, up 18 percent from January 2013. Eurodollar futures volume averaged 2.6 million contracts per day, up 34 percent from the same period a year ago. Eurodollar options volume averaged 830,000 contracts per day, up 92 percent from January last year. Treasury futures volume averaged 2.3 million contracts per day, down 5 percent compared with the same period a year ago.
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Source: CME Group
First Trust Launches Canada's First European ETF
New exchange traded fund will provide Canadians with low cost exposure to European equities while hedging potential declines in foreign currencies
February 4, 2014-- FT Portfolios Canada Co. ("First Trust Canada"), a privately owned company is pleased to announce the launch of the common and advisor class of units of the First Trust AlphaDEX(TM) European Dividend Index ETF (CAD-Hedged) CA:EUR -0.35% CA:EURA +0.05% .
The First Trust ETF seeks to replicate, to the extent possible, the performance of the AlphaDEX(TM) European Dividend Index, net of expenses. The investment strategy of the First Trust ETF is to invest in and hold the Constituent Securities of the AlphaDEX(TM) European Dividend Index in the same proportion as they are reflected in the AlphaDEX(TM) European Dividend Index or securities intended to replicate the performance of the AlphaDEX(TM) European Dividend Index.
Horizons ETFs Announces Unit Consolidation view more
Source: First Trust
February 4, 2014--Horizons ETFs Management (Canada) Inc. ("Horizons ETFs"), the manager and trustee of the Horizons BetaPro NYMEX(R) Natural Gas Bear Plus ETF (the "ETF"), has announced today that it intends to consolidate the units of the ETF.
After the close of trading on Thursday, February 13, 2014 on the Toronto Stock Exchange (the "TSX"), the units of the ETF will be consolidated on the basis of the ratio (the "Consolidation Ratio") set out below, and will begin trading on a post consolidated basis on Friday, February 14, 2014, the effective date of the consolidation:
Source: Horizons ETFs Management (Canada) Inc.
