Americas ETP News
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MSCI and BM&FBOVESPA Reach a Preliminary Agreement on the Expansion of their Business Relationship and the Provision of Real Time Data
May 23, 2012--MSCI Inc., a leading provider of investment decision support tools worldwide, and BM&FBOVESPA S.A.-Bolsa de Valores, Mercadorias e Futuros ("BVMF"), the largest equity and futures exchange in Latin America and one of the five biggest exchanges in the world in market value, announced today that they have reached a preliminary agreement on key terms regarding the provision of real time stock market data.
With this preliminary agreement, the calculation of MSCI real time indices will continue as normal to support a range of financial products. The parties will now work on the completion of binding documentation.
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Source: MSCI
Viacom Inc. to Join the NASDAQ-100 Index Beginning May 30, 2012
May 23,, 2012--Viacom Inc. will become a component of the NASDAQ-100 Index and the NASDAQ-100 Equal Weighted Index prior to market open on Wednesday, May 30, 2012. Viacom Inc. will replace Teva Pharmaceuticals Industries Ltd..
Viacom Inc. is headquartered in New York, New York and has a market capitalization of approximately $22.9 billion. For more information about the company, go to www.viacom.com.
The NASDAQ-100 Index, launched in January 1985, is one of the most widely followed benchmarks in the world.
The NASDAQ-100 Index is also the basis of the PowerShares QQQ Trust (Nasdaq:QQQ) which aims to provide investment results that, before expenses, correspond with the NASDAQ-100 Index's performance. In addition, options, futures and structured products based on the NASDAQ-100 Index and the PowerShares QQQ Trust trade on various exchanges.
Source: NASDAQ OMX
Van Eck files with the SEC
May 22, 2012--Van Eck has filed a post-effective amendment no. 713, registration statement with the SEC.
This filing relates solely to the following series of the Registrant: Market Vectors Africa Index ETF, Market Vectors Agribusiness ETF, Market Vectors Brazil Small-Cap ETF, Market Vectors China ETF, Market Vectors Coal ETF, Market Vectors Colombia ETF, Market Vectors Egypt Index ETF, Market Vectors Environmental Services ETF, Market Vectors Gaming ETF, Market Vectors Germany Small-Cap ETF,
Market Vectors Global Alternative Energy ETF, Market Vectors Gold Miners ETF, Market Vectors Gulf States Index ETF, Market Vectors India Small-Cap Index ETF, Market Vectors Indonesia Index ETF, Market Vectors Junior Gold Miners ETF, Market Vectors Latin America Small-Cap Index ETF, Market Vectors Oil Services ETF, Market Vectors Poland ETF, Market Vectors Rare Earth/Strategic Metals ETF, Market Vectors Russia ETF, Market Vectors Russia Small-Cap ETF, Market Vectors RVE Hard Assets Producers ETF, Market Vectors Solar Energy ETF, Market Vectors Steel ETF, Market Vectors Uranium+Nuclear Energy ETF and Market Vectors Vietnam ETF
view filing
Source: SEC.gov
DB Equity Research Equity Research-US ETF Market Weekly Review:Market plunge removed over $40bn from ETP AUM
May 22, 2012--Net Cash Flows Review
Last week, the risk-off trade took another step towards consolidation. The US (S&P 500) retreated by 4.3%. Outside the US, the MSCI EAFE (in USD) and the MSCI EM (USD) dropped by 5.93% and 6.45%, respectively. Moving on to other asset classes, the 10Y Treasury yield retreated by 13bps last week and reached a new low of 1.71%, while the DB Liquid Commodity Index was down by 1.19%.
The WTI Crude Oil, and the Silver prices did alike and fell by 4.84%, and 0.59%, respectively; while the Agriculture sector (DB Diversified Agriculture Index), and Gold showed some resilience recording positive moves of 3.14%, and 0.86%, respectively. Last but not least, Volatility (VIX) soared an impressive 26.19% during the same period.
The total US ETP flows from all products registered $1.7bn of inflows during last week vs $0.4bn of inflows the previous week, setting the YTD weekly flows average at +$2.8bn (+$55.3bn YTD in total cash flows).
Equity, Fixed Income, and Commodity ETPs experienced flows of -$0.5bn, +$2.0bn, and +$0.3bn last week vs. -$0.5bn, +$1.2bn, and -$0.2bn the previous week, respectively.
Within Equity ETPs, small cap and large cap products experienced the largest inflows (+$1.1bn, +$0.5bn respectively); while regional emerging markets vehicles experienced the largest outflows (-$1.0bn). Within Fixed Income ETPs, broad benchmark products recorded the largest inflows (+$1.1bn), followed by Sovereign products (+$1.0bn); while Corporates experienced outflows of $0.3bn. Within Commodity ETPs, Precious Metals products experienced the largest inflows (+$0.3bn).
Top 3 ETPs & ETNs by inflows: IWM (+$1.1bn), BND (+$0.8bn), IVV (+$0.4bn)
Top 3 ETPs & ETNs by outflows: XLF (-$0.8bn), VWO (-$0.5bn), HYG (-$0.4bn)
New Launch Calendar: No new listing during the previous week
Turnover Review: first week above last year’s weekly average
Total weekly turnover increased by 21.4% to $387bn vs. $319bn in the previous week, driven by soaring volatility. Last week’s turnover level was the first time weekly turnover has been above last year’s weekly average this year. The largest absolute increase was on Equity ETP turnover, which rose by $55.1bn or 19.2% to $342bn. Fixed Income ETP and Commodity ETP turnover followed with increases of 51.9% (+$7.3bn) and 26.4% (+$4.1bn), respectively.
Assets Under Management (AUM) Review: $41bn removed from ETP assets
The risk-off trade hit equity markets really hard during last week removing $41bn or 3.5% from ETP assets. Total ETP AUM shrank to $1.11 trillion at the end of last week. YTD growth dropped below the two-digits to 6.2%. Assets for equity, fixed income and commodity ETPs moved -$41.9bn, +$0.6bn, and +$0.5bn during last week, respectively.
to request report
Source: Deutsche Bank-Equity Research-North America
Richard Bernstein Advisors launches "SMRT" ETF Portfolios
May 22, 2012--Richard Bernstein Advisors (RBA) announced today that they are launching a series of ETF model strategies known as "SMRT"(Sector Model RoTation) portfolios that will combine RBA's top-down approach and proprietary earnings and valuation analyses with First Trust Advisors'AlphaDEX methodology.
SMRT portfolios are designed to manage beta through a market cycle. RBA, founded by CEO Richard Bernstein–former chief investment strategist at Merrill Lynch and Institutional Investor All-American Research Team Hall of Fame inductee–uses an array of proprietary macro indicators to assess the market cycle and accordingly focuses on allocating beta effectively among the primary factors of stock returns such as size, style, geography and economic sector. RBA believes that beta is the primary driver of stock returns vs. individual stock selection and thus ETFs are ideal vehicles for the SMRT portfolios. The model's strategies will initially be offered on select UMA platforms as follows:
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Source: Richard Bernstein Advisors
CME launches new energy brokerage platform
May 22, 2012--Energy and commodity exchange operator CME Group launched a service Tuesday in a bid to offer side-by-side trading of exchange-listed and over-the-counter energy products on a unified trading platform.
The new service, CME Direct, will allow brokers to handle customer accounts on one platform, rather than having to switch between the exchange's Globex and Clearport systems, said Michel Everaert, managing director, OTC Solutions, at the CME.
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Source: Chicago Tribune
Brazil doubts growth forecast, citing euro jitters
May 22, 2012--Brazil has admitted it is unlikely to meet an economic growth forecast of 4.5 percent over concerns about the eurozone and announced a new stimulus package in a bid to reverse a recent slowdown.
"If the crisis worsens or continues to worsen, if they do not resolve the problem of Greece, then it will be difficult to achieve a growth rate of 4.5 percent," Finance Minister Guido Mantega said at a press conference on Monday.
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Source: EUbusiness
Minutes Of Federal Reserve Board Discount Rate Meetings-April 2 Through April 23, 2012
May 22, 2012--The Federal Reserve Board on Tuesday released the minutes of its discount rate meetings for April 2 and April 23, 2012.
view minutes
Source: FRB
Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices
May 22, 2012--Standard & Poor's will make the following changes in the S&P/TSX Canadian Indices:
S&P Canadian Index Services announces that calculation of five equity-only indices, as listed below, will cease after the quarterly review of the S&P/TSX Composite Index in December, 2012:
S&P/TSX Equity Index
S&P/TSX Capped Equity Index
S&P/TSX Equity 60 Index
S&P/TSX Equity Completion Index
S&P/TSX Equity SmallCap Index
The final date for calculation of these indices will be Friday, December 21, 2012. Until that date, these indices will continue to be maintained and calculated as they are currently.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poor's
Securities Industry Examines Faster Payment for Stock and Bond Trades
DTCC, with the Guidance of SIFMA, Oversees Cost-Benefit Analysis for Shortening the Time Period between Trade Execution and Settlement Date
May 22, 2012--The Depository Trust & Clearing Corporation (DTCC), with the guidance of the Securities Industry and Financial Markets Association (SIFMA), has awarded a research contract to The Boston Consulting Group (BCG) to undertake a business case study of the impacts of shortening the trade settlement cycle in the U.S. financial markets for equities, corporate and municipal bonds and unit investment trust (UIT) trades.
Currently, the securities industry completes settlement for trades in equities and certain debt securities on the third day after a trade is executed by sending payment for the trade to the seller and the securities to the buyer. In industry parlance, this three-day period to complete the exchange is known as T+3. The business case analysis will examine the costs and benefits of shortening the trade settlement cycle for these instruments in the U.S. financial markets from T+3 to T+2 or T+1. The study will also examine the conditions necessary to settle trades on the trade date itself (T+0).
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Source: MarketWatch
