Americas ETP News
If your looking for specific news, using the search function will narrow down the results
CFTC Certifies Dow Jones Industrial Average Futures Contract Submitted by Osaka Securities Exchange
Contract may be Offered to U.S. Persons Through Direct Access Effective June 15, 2012
June 15, 2012--The Commodity Futures Trading Commission's (CFTC) Division of Market Oversight today certified a Dow Jones Industrial Average Futures contract submitted by the Osaka Securities Exchange (OSE) on April 30, 2012.
The contract satisfies the requirements of the Commodity Exchange Act and the Commission’s Regulations and may be offered or sold to persons in the U.S. through OSE’s direct access terminals located in the U.S.
Source: CFTC.gov
BNY Mellon ADR Index Monthly Performance Review is Now Available-June 2012
June 15, 2012--The BNY Mellon ADR Index Monthly Performance Review May 2012 is now available.
view updates
Source: BNY Mellon
High ETF growth to depend on pensions
June 15, 2012--A recent report that Apple planned to shift its entire retirement savings portfolio into exchange traded funds produced a shiver of excitement across the ETF industry.
The news was seen as a signal that ETFs were about to make a real breakthrough into pension plans, where their adoption has been painfully slow.
read more
Source: FT.com
CFTC to Hold Open Meeting to Consider Proposed Interpretive Guidance on Cross--Border Application of Certain Swaps Provisions of the Commodity Exchange Act and a Proposal Regarding Phased Compliance for Foreign Swap Dealers
June 14, 2012--The Commodity Futures Trading Commission (CFTC) will hold a public meeting on Thursday, June 21, 2012, at 1:00 p.m., to consider Proposed Interpretive Guidance on Cross-Border Application of Certain Swaps Provisions of the Commodity Exchange Act (CEA)
and Regulations thereunder, and a Proposal Regarding Phased Compliance for Foreign Swap Dealers.
read more
Source: CFTC.gov
Canadian securities regulators propose enhanced disclosure requirements on investment costs and performance
June 14, 2012--The Canadian Securities Administrators (CSA) are publishing for a second comment period, proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, which would require registered dealers and advisers to provide investors with clear and meaningful information on the costs and performance of their investments.
This Proposal includes, among other things, requirements for registered dealers and advisers to provide their clients with annual reports that show them:
in dollars, what the dealer or adviser was paid for the products and services it provided, and
in dollars and percentages, how the client's investments performed during that year and over longer periods
read more
Source: Canadian Securities Administrators
JPMorgan Chase & Co. Announces a Cap to the Issuances of the Alerian MLP Index ETNs (NYSE Arca: AMJ)
June 14, 2012--JPMorgan Chase & Co. (JPM) announced today that the maximum number of Alerian MLP Index ETNs (NYSE Arca: AMJ) authorized for issuance will be 129 million ETNs.
This size limitation does not affect the weekly repurchase rights at the option of note holders described in the reopening pricing supplement and the product supplement relating to the ETNs. Other exchange traded notes, structured notes and debt securities issued by JPMorgan Chase & Co. are not affected by this maximum issuance authorization.
read more
Source: JPMorgan Chase & Co.
Private equity firms target ETF portfolio managers
June 13, 2012-Private equity investors have found another way to get into the growing U.S. exchange traded fund (ETF) market: investing in firms that manage ETF portfolios.
Seven years ago, venture capitalists clamored to invest in start-up ETFs - investment funds that are traded much like stocks. But with over 1,460 ETFs now available in the U.S., the landscape is crowded. That has led to a growing interest in ETF model portfolio firms - the companies that manage a portfolio made up solely of ETFs.
read more
Source: Reuters
U.S. seen delaying swaps rules for overseas banks
June 13, 2012--The United States is considering giving U.S. and foreign banks more time to comply with costly new reforms related to their overseas swaps operations, according to three people briefed on the matter.
The Commodity Futures Trading Commission has drafted a proposed exemptive order that would delay for these players certain "entity level" swaps rules, including one that will mandate they hold a certain amount of capital to back their trades, these people said.
read more
Source: Chicago Tribune
'Lipstick effect' taking hold of US consumer, says leading manager
June 13, 2012--Consumer demand for affordable luxury goods in the US is beginning to mirror that of the emerging retail market, said Grant Bowers, manager of the Franklin US Opportunities fund.
‘The lipstick effect is definitely taking effect in the US,’ said Bowers, who co-manages just under €3 billion with Conrad Herrman through the fund and is overweight the consumer discretionary sector.
read more
Source: City Wire
OECD-Economy: Canada needs to boost innovation and human capital to sustain living standards
June 13, 2012--Canada has weathered the global economic crisis comparatively well but will have to become more productive to sustain its high standard of living, according to OECD's latest Economic Survey of Canada.
The report, presented today in Ottawa, notes that a timely fiscal stimulus, low interest rates, a solid banking sector and revenues from natural resources helped Canada return to a stable growth path after the global economic crisis of 2008-09. With rising real estate prices and high household indebtedness now posing new risks, the OECD projects that Canada’s economy will grow by around 2¼ per cent in 2012, and by around 2½ per cent in 2013.
The report identifies sluggish productivity growth as the main long-term challenge facing Canada’s economy. Per capita income has increased in recent years, as more people entered the labour force and oil and other commodity prices soared, pushing up the value of the Canadian dollar. However, the amount of labour, capital and natural resources needed to produce a unit of GDP has remained largely the same over the past few decades.
view OECD Overview of the Economic Survey of Canada
Source: OECD
