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Algo trading systems in FINRA sights
January 6, 2014--The Financial Industry Regulatory Authority (FINRA) will investigate market participants' algorithmic trading systems to ensure adequate monitoring is taking place and help the industry avoid algo-related trading errors, the organisation has stated.
In a statement outlining the US regulator's priorities for 2014 released last week, FINRA said it would assess--through examinations and targeted investigations-whether firms had adequate controls for testing and implementation of algorithmic trading strategies, including high-frequency trading (HFT).
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Source: The Trade News
NYSE Euronext 3 New listings-EGShares
January 6, 2014--NYSE Euronext is pleased to announce that on Wednesday, January 08, 2014, the following ETFs will be listed on NYSE Arca and will begin trading as new issues:
Security Name:EGShares TCW EM Short Term Investment Grade Bond ETF
Short Name: EGA TCW EM ST BD ETF
Trading Symbol: SEMF
Security Name: EGShares TCW EM Intermediate Term Investment Grade Bond ETF
Short Name: EGA TCW EM IT BD ETF
Trading Symbol: IEMF
Security Name: EGShares TCW EM Long Term Investment Grade Bond ETF
Short Name: EGA TCW EM LT BD ETF
Trading Symbol: LEMF
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Source: NYSE Euronext
Yellen gets final stamp of approval to head U.S. Fed
January 6, 2014--Janet Yellen, a key force behind the Federal Reserve's unprecedented and controversial efforts to boost the U.S. economy, was confirmed by the Senate on Monday to lead the central bank just as it begins to unwind that stimulus.
When she succeeds Ben Bernanke, whose second four-year term as Fed chairman expires on January 31, Yellen will become the first woman to run the Fed in its 100-year history and just one of a handful of women heading central banks globally. She is currently the Fed's vice chair.
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Source: Reuters
CFTC.gov Commitments of Traders Reports Update
January 6, 2014--The current reports for the week of December 31, 2013 are now available.
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Source: CFTC.gov
Bond ETFs Grabbed Money Last Year Even as Bond Mutual Funds Suffered
January 6, 2014--A down year for the bond market drove investors from traditional bond mutual funds, but money kept flowing into bond exchange-traded funds.
Old-fashioned fixed income mutual funds saw withdrawals of $85.4 billion in 2013, while fixed-income ETFs took in $27.5 billion, according to data released Monday from asset manager BlackRock Inc.
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Source: Wall Street Journal
Invesco Could Shine in 2014
January 4, 2014--The money manager is poised to shine in 2014 due to strong asset growth and savvy acquisitions. Rich opportunities, cheap shares.
Invesco, the Atlanta-based money manager, ended 2013 on a high note, with analysts estimating net inflows of $36 billion, an annual record. If markets cooperate, another good year could lie ahead, which could mean additional gains for investors.
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Source: Barron's
In with the new: Unusual ETFs in 2014
January 4, 2014-- After a stellar run in 2013, you may be wondering how it can get even sweeter than a nearly 30 percent annual return, which is what you would have gained holding the SPDR S&P 500 ETF (SPY) last year.
One advantage of ETFs is that, because most are pegged to indexes and not actively managed, their low costs can be passed on to you, the investor. The expense ratio for the SPY, for example, is 0.09 percent; that's 90 cents for every $1,000 invested.
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Source: CNBC.com
Vanguard's growing dominance: Morningstar
January 3, 2013--Vanguard Group, Malvern, estimates it brought in a net $138 billion into its mutual funds, ETFs and money market funds for 2013, "just shy of our record 2012 cash flow of $141 billion," spokesman John Woerth tells me.
Add it all up, and Vanguard, with more than $2 trillion in clients' funds, has boosted its market share in the funds industry to 18%, more than double where it was in the early 1990s and far ahead of former industry leaders Fidelity (of Boston) and California-based American Funds,"both of which have lost market share over the past five years," writes fund-watcher Morningstar's Michael Rawson here. Vanguard has also been growing more rapidly than its main ETF rival, iShares.
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Source: Philly.com
Pimco's Bill Gross suffers tough 2013
January 3, 2014--The flagship bond fund run by Pimco's Bill Gross last year suffered its worst annual performance in almost two decades,
while equity funds focusing on smaller companies were buoyed by signs of a western economic recovery.
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Source: FT.com
One Last Note to CFTC Staff
Statement of Chairman Gary Gensler: One Last Note to CFTC Staff, January 3, 2014.
January 3, 2014--Dear Colleagues,
I want to thank all of you for welcoming me into the CFTC family these last five years.
Five years ago, when the President was formulating his financial reform proposals, he placed tremendous confidence in this small agency, which for eight decades had overseen the futures market.
Based on your incredible work, the agency now oversees a transformed swaps market.
I have worked with some remarkable people in my career -when on Wall Street, at the Treasury Department, and on political campaigns.
