Americas ETP News
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Trading Community Looks To Big Data To Uncover Patterns of Abuse
June 24, 2013--Heralding the next big thing in financial market enforcement, regulators, exchanges and trading firms are turning their attention from specific alerts of insider trading to identifying larger patterns of abuse.
The trading community is applying Big Data and "moving from cross-market to cross-asset surveillance,” explained Bill Nosal, Nasdaq’s associate vice president for business development and Smart products. “Unlike Europe, the U.S. market was designed for transparency. Now technology is providing the basis to look not just across exchanges, but across a given asset such as a security or a futures contract,” said Nosal in an interview last week with Securities Technology Monitor.
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Source:Securities Technology Monitor
Vanguard's $500bn ETF gamble is already showing signs of paying off
June 23, 2013--Vanguard's evangelisation of the low-cost model for investing is legendary, and the company is not afraid to make bold moves to further its efforts.
It will do so even when its actions cause big shockwaves in the US mutual fund industry-as the asset manager’s chief executive, William McNabb, found out six months ago.
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Source: FT.com
CFTC's Division of Clearing and Risk Issues Extension of Time-Limited No-Action Relief from Required Clearing for Swaps Entered into by Certain Cooperatives
June 21, 2013--The Commodity Futures Trading Commission (Commission) Division of Clearing and Risk (DCR) today announced the issuance of a time-limited, no-action letter granting relief from required clearing under section
2(h)(1)(A) of the Commodity Exchange Act and part 50 of the Commission’s regulations for certain swaps entered into by qualifying cooperatives.
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Source: CFTC.gov
Market Vectors Announces Reverse Share Split of Seven ETFs
June 21, 2013--Market Vectors ETF Trust announced today that its Board of Trustees has approved reverse share splits of seven ETFs.
The effective date of the split will be at market open on July 1, 2013. The Funds will continue to trade on the NYSE Arca under their current ticker symbols, but their current CUSIP numbers will be discontinued and the Funds’ new CUSIP numbers will be as follows, effective July 1, 2013.
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Source: Market Vectors ETFs
Volume In CBOE's S&P 500 Index Options Beats All-Time High Set In 2010
Nearly 2.3 Million Contracts Change Hands on Thursday, June 20
June 21, 2013-- The Chicago Board Options Exchange(R)(CBOE(R)) today reported that trading volume in S&P 500(R) Index options (SPXSM) contracts on Thursday, June 20 established a new daily record of 2,282,029 contracts traded.
Thursday's SPX record surpassed the previous daily volume record of 2,187,004 contracts set on May 20, 2010.
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Source: CBOE
iShares Launches Columbia Capped ETF To Tap "New Brazil"
June 21, 2013--iShares, BlackRock's exchange-traded funds business, has launched a new iShares MSCI Colombia Capped ETF, complementing the iShares Latin and South American ETF line-up, which is the largest in terms of number of funds in the US.
The new iShares MSCI Colombia Capped ETF is designed to track the MSCI All Colombia Capped Index, which is a broad-based Colombia equity market index. The index includes companies that are headquartered or listed in Colombia and have the majority of their operations based in Colombia.
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Source: Wealth Briefing
Announcing the Morningstar Global Allocation Index
June 20, 2013--Morningstar Indexes is pleased to announce the launch of the Morningstar(R) Global Allocation IndexSM-an index representing a diverse, multi-asset class portfolio of liquid asset classes that reflects the global investment opportunities available to an investor with a moderate risk profile.
The allocation within each asset class in the Morningstar Global Allocation Index is built from existing Morningstar Indexes and driven by methodology from Ibbotson Associates—a division of Morningstar Investment Management and 30 year leader of asset allocation research.
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Source: Morningstar
Bond Market Sell-Off Causes Stress in $2Trillion ETF industry
June 20, 2013--June 20, 2013--A wave of selling caused many exchange traded funds to tumble below the value of their underlying assets as a bond market sell-off caused stress in the $2 trillion ETF industry.
ETFs track baskets of underlying assets, such as emerging-market stocks or municipal bonds, but discounts widened sharply on Thursday as dealers struggled to keep up with the sell orders.
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Source: CNBC.com
State Street temporarily stops cash redemptions for muni-bond ETFs
June 20, 2013--A flurry of selling in municipal bond ETFs this week prompted one of the market's largest exchange-traded fund sponsors to temporarily stop redeeming shares for cash.
The move underscored how hard-pressed frantic sellers became in the heat of this week’s selloff.
State Street Global Advisors, the asset management arm of State Street Corp., told Wall Street trading desks Thursday that it would only accept so-called “in kind” redemptions for its suite of muni-bond ETFs, according to Tim Coyne, State Street’s global head of SPDR ETF capital markets. A spokeswoman said State Street resumed allowing dealers to its muni ETF shares for cash on Friday.
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Source: Wall Street Journal
BNY Mellon Announces Mobile App to Facilitate Creation of ETF Shares
June 20, 2013--New Technology Aimed at Providing Flexibility for Authorized Participants
June 20, 2013--BNY Mellon, the global leader in investment management and investment services, said today it is among the first to introduce a mobile application that enables shares of exchange-traded funds
(ETFs) to be created and redeemed on an iPad.
The app was designed to improve the efficiency of authorized participants, which are financial institutions that
play a key role in the trading of ETFs.
"As a leading provider of ETF services, BNY Mellon strives to meet the needs of all constituents in the ETF marketplace," said Joseph F. Keenan, managing director for BNY Mellon Asset Servicing and head of its global ETF services business. "This particular app was designed primarily to address the needs of the authorized participants, although it also provides information to other constituents in the ETF marketplace such as sponsors. Improving the efficiency of authorized participants can help increase the assets flowing into ETFs, which ultimately benefits the ETF sponsors, which are our clients."
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Source: BNY Mellon
