Americas ETP News
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Cash lure to stop firms deserting ETFs
August 8, 2013--On Wall Street, it seems money talks. Three years after the "flash crash" that sent prices of exchange traded funds reeling,
US stock exchanges say they have worked out a way to motivate the financial firms that are supposed to ensure smooth trading in ETFs: pay them more....
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Source: FT.com
New US listings at post-crisis high in Q3
August 8, 2013--The market for new US listings is off to its best third-quarter start since before the financial crisis, highlighting the rush of companies looking to take advantage of steadily rising stock prices and limited turbulence on equity exchanges.
A total of 28 companies have raised $5.2bn from US initial public offerings since July, which marks the fastest rate of activity and amount raised in the same period since 2007, according to data from Dealogic. A further six companies are looking to price deals and begin trading by the end of this week.
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Source: FT.com
Coming Soon: Index ETFs That Follow Secret Indexes
August 8, 2013--Exchange-traded funds (ETFs) that follow indexes are about to meet a new competitor.
Soon there will be self-indexed ETFs that don’t follow any published index. They're secret. Only the fund providers themselves will know how the index is constructed-and what’s in it – even though the ETFs will be marketed as passive indexing.
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Source: Forbes
BNY MELLON DR INDICES Monthly Performance Update July 2013
August 8, 2013--The BNY Mellon ADR Index Monthly Performance-July 2013 Update has been published and is now available for review.
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Source: BNY Mellon
Schwab to launch six ETFs based on Russell fundamental indexes
August 8, 2013--Charles Schwab Corp said on Thursday it plans to launch six new exchange-traded funds, which will begin trading next week, as the online brokerage looks to expand its offering of in-house managed ETFs.
The new funds, which are based on the Russell fundamental index series, bring Schwab's proprietary ETF lineup to 21 total funds. Schwab first began offering in-house managed ETFs in late 2009 and in February unveiled a new commission-free platform to waive transaction fees on 105 ETFs offered by multiple providers.
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Source: Reuters
U.S. Department of the Treasury Economic Statistics-Monitoring the Economy Update
August 8, 2013--The U.S. Department of the Treasury Economic Statistics-Monitoring the Economy report has been updated.
view the US Economic Data Monthly July 2013 report
Source: US Department of the Treasury
Schwab Expands Fundamental Index Line-up with Introduction of Six Exchange-Traded Funds
New ETFs use same approach as Schwab's Fundamental Index mutual funds, complement cap-weighted ETF offering
August 8, 2013--Charles Schwab Investment Management (CSIM), an exchange-traded funds (ETFs) industry leader, announced today that six new Schwab Fundamental Index(R) ETFs will begin trading next week.
Along with Schwab’s other 15 proprietary ETFs, these new core funds will be available for purchase commission-free online in Schwab accounts beginning August 15.
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Source: Charles Schwab
Computer Trading in Bonds Won't Match Stock Level, McKinsey Says
August 7, 2013--The corporate bond market is unsuitable for full electronic trading, according to a study by McKinsey & Co. and Greenwich Associates, even as Goldman Sachs Group Inc. (GS) and BlackRock Inc. (BLK) expand their own systems.
The bond market has more securities compared with listed stocks and its issues trade at a lower frequency, making a full transition to computer-based buying and selling unlikely, the consultants said in a joint survey released today. Asset managers are "cautiously optimistic" that electronic auction systems for trading bonds will grow, the report said.
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Source: Bloomberg
CBO Monthly Budget Review for July 2013
August 7, 2013--The federal government's budget deficit was slightly more than $600 billion in the first 10 months of fiscal year 2013, CBO estimates, almost $370 billion less than the shortfall recorded for the same period last year.
Revenues have risen by about 14 percent, accounting for much of the decline in the deficit. The results through July suggest that total outlays and revenues for the fiscal year will both be slightly less than CBO projected in May, when it estimated a deficit of $642 billion for the year.
view the CBO Monthly Budget Review for July 2013
Source: Congressional Budget Office (CBO)
KCG Announces Second Quarter 2013 Results For GETCO And Knight
GETCO recorded a net loss of $72.9 million, which included $60.7 million in merger-related pre-tax charges for professional fees and compensation, writedowns, restructuring charges and financing commitment fees
August 7, 2013-Knight recorded a net loss from continuing operations of $23.6 million, which included $76.5 million in merger-related pre-tax expenses for compensation and professional fees as well as a goodwill writedown
Strategic combination between GETCO and Knight completed July 1, 2013
KCG Holdings, Inc. (NYSE: KCG) the company formed by the strategic combination of GETCO Holding Company, LLC (GETCO) and Knight Capital Group, Inc. (Knight) completed July 1, 2013, today reported second quarter 2013 results for the companies on a standalone basis.
"The second quarter of 2013 was a period of intense activity during which the two firms together built the foundation for KCG," said Daniel Coleman, Chief Executive Officer of KCG. "The teams deepened working relationships at all levels and collaborated to accomplish the steps necessary to complete the transaction. Of critical importance, individuals worked tirelessly to meet and exceed the levels of service that clients expect from an industry leader."
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Source: KCG
