Global ETF News Older than One Year
Basel Committee publishes follow-up reports on Basel III implementation assessments
March 25, 2019--The Basel Committee on Banking Supervision has published overviews of follow-up actions taken or planned by member jurisdictions as of end-2018 to address deviations from the Basel standards identified as part of the Committee's Regulatory Consistency Assessment Programme (RCAP).
The follow-up actions pertain to assessments of risk-based capital and Liquidity Coverage Ratio (LCR) regulations that were completed and published as of end-2017.
Source: BIS
Commodity Trading Goes Back To The Future
March 25, 2019--As trading margins continue to decline, proprietary intelligence is once again determining which traders will thrive.
The combination of unprecedented political uncertainty, trade wars, and rapidly evolving technologies is making commodity markets almost as unpredictable as they were during the financial crisis.
But the chances of repeating the industry's most profitable year to date are remote.
Source: Oliver Wyman
Hedge Fund Launches Hit 18-Year Low
March 22, 2019--Blame declining investor risk tolerance for fewer fund launches in 2018, according to Hedge Fund Research.
New hedge fund launches hit an 18-year low during 2018, new data from data provider Hedge Fund Research shows.
But 2018 was not all bad for the industry: fund liquidations also declined during the year, hitting their lowest point since 2007, according to the report released by HFR on Friday.
Source: institutionalinvestor.com
Global IPO momentum slows but Q2 2019 is set to rebound
March 21, 2019--Global IPO activity falls following ongoing geopolitical and trade uncertainty
Technology, health care and industrials were the most active sectors in Q1 2019
Rebounding IPO activity will bloom in Q2 2019 once fog of uncertainty has lifted
Despite positive performance of main stock indices and a decrease of volatility in many markets, ongoing geopolitical uncertainties and trade issues continue to dampen investor enthusiasm, resulting in the number of IPOs in the first three months of 2019 (YTD 2019) falling to 199 globally and US$13.1b in proceeds. This is a 41% decrease in deals and a 74% decrease in proceeds from YTD 2018. The technology, health care and industrials sectors were the most prolific producers of IPOs globally in YTD 2019, together accounting for 101 IPOs (51% of global IPO by deal numbers) and raising US$5.4b altogether (42% of global proceeds).
Source: EY
FTSE Russell to launch indicative Digital
Assets Index
March 21, 2019--New indicative index designed to test and evaluate a benchmark for Digital Assets Market
Will help increase awareness and transparency of Digital Assets Market
VWAP pricing available on 100 most actively traded digital assets. Only vetted digital exchanges used and pricing quality screens applied
Index produced in association with DAR Data Services (DAR) FTSE Russell, the global index, analytics and data provider, in association with DAR Data Services (DAR), have announced their intention to launch a new indicative FTSE Digital Assets Index. The indicative index will be used to evaluate and test a benchmark for the most actively traded digital assets. It will also help assist in the establishment of new industry standards for the digital assets market, in consultation with market participants.
Source: FTSE Russell
Greenwich Associates Finds Buy-Side's Expanded Use of Trade Performance Analysis Tools is Eclipsing Client-Broker Loyalty
March 21, 2019--New research underscores the increasing role of execution quality analysis in capturing and retaining trade flow
A new Greenwich Associates study "Customer Retention in the Age of Electronic Trading," shows buy-side clients are increasingly reallocating their business among broker-dealers as they apply heightened scrutiny to execution quality.
Amidst this more advanced evaluation of trading effectiveness, Corvil believes 2019 is a pivotal year for trade execution analytics.
Greenwich Associates examined 2,200 pairwise broker-client relationships and found old alliances shifting, with significant and increasing levels of order flow reallocation. Between 2017 and 2018 the median institutional client was reallocating a third of its U.S. equity trading volume among brokers, and that median volume reallocation increased by 50 percent between 2014 and 2018.
This status quo shake up coincides with the buy-side's use of sophisticated tools to assess broker performance.
Source: Greenwich Associates
China and EU seek common ground on environmentally friendly green bonds
March 21, 2019--Agreement on standards would be rare deal as relations between the trading partners fray on other fronts
US under President Donald Trump have turned a cold shoulder to environmental concerns, withdrawing from the Paris Agreement to combat climate change
Even as disputes in their bilateral relationship pile up, officials from China and the European Union hope to find common ground on one key global issue: issuance standards for "green" bonds dedicated to financing environmentally friendly projects.
Officials from China and the EU-the second and third-biggest issuers of green bonds after the United States-are due to start talks in Brussels on Thursday to decide on standards for the increasingly popular investment vehicle.
Source: South China Morning Post
Basel III monitoring results published by the Basel Committee
March 20, 2019--Changes in minimum required capital from fully phased-in final Basel III remain stable for large internationally active banks compared with end-2017
All banks continue to meet initial Basel III minimum and target CET1 capital requirements
All banks in the sample reported Liquidity Coverage Ratios (LCRs) that met or exceeded the final 100% minimum requirement
The Basel Committee today published the results of its latest Basel III monitoring exercise, based on data as of 30 June 2018. Through a rigorous reporting process, the Committee regularly reviews the implications of the Basel III standards for banks, and has been publishing the results of such exercises since 2012. The report sets out the impact of the Basel III framework that was initially agreed in 2010 as well as the effects of the Committee's December 2017 finalisation of the Basel III reforms. However, it does not yet reflect the finalisation of the market risk framework published in January 2019.
By analyzing internet traffic on the top 100 crypto exchanges' websites, the Tie determined that 75 percent of the exchanges reported trading volumes that were more than double expected. Nearly 90 percent of the exchanges' volume was suspect. The eight-person New York-based firm, founded in late 2017, provides sentiment analytics, data and other tools to crypto traders.
Source: bnnbloomberg.ca
First Bridge Data-ETF Worldwide Snapshot-Mar 2019
It is the first time an ETF manager has proposed a 'negative' fee and is pending review by the SEC.
Vanguard has designated 13 of its ETFs as 'select' ETFs that it recommends as core ETFs for portfolio construction. It is a response to similar moves by Blackrock and State Street in recent years.
There were only 9 new ETF listings in the US and 124 outside the US (including cross-listings and share class variants) in February 2019.
Marijuana, China 'A share' small caps and genomics stocks were among the best performing ETF categories this year to date through March 18, 2019. VIX, shipping and agriculture futures were the worst performing categories in the same period.
Source: First Bridge Data
March 20, 2019--Key Highlights
Our monthly 'ETF 20/20' report briefly summarizes recent Exchange Traded Fund (ETF) trends globally. It uses data from the First Bridge ETF database that includes all global ETPs.
Global ETP assets increased in February 2019 to $5.42T.
Salt Financial, a small ETF manager, filed an amendment with the US SEC to pay investors 0.05% on an ETF it launched recently ('LSLT') till the fund reaches $100M in assets.
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