Americas ETP News
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CFTC plan sheds light on delays for block trades
February 23, 2012--The U.S. futures regulator on Thursday approved a measure that provides more insight on when dealers can delay reporting large over the counter swap transactions with sensitive price and size information to the public.
However, Republican commissioners at the Commodity Futures Trading Commission warned that poor quality data used in the proposed new rule was "troubling" and could serve to undermine efforts by the agency to boost swaps transparency.
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Source: CFTC.gov
Legg Mason files with the SEC
February 23, 2012--Legg Mason has filed a pre-effective amendment, registration statement with the SEC for the Legg Mason ETF Trust, an actively-managed ETF.
view filing
Source: SEC.gov
ETRACS Reports Technology Sector Top Performer: Solid State Drive ETN Leads Technology Exchange Traded Products with a 29.97% YTD Return
February 23, 2012--UBS Investment Bank today announced that the ETRACS ISE Solid State Drive Index ETN (Ticker: SSDD, NYSE), linked to the ISE Solid State Drive Index, is the top performing technology exchange-traded product ("ETP")* year-to-date, significantly outperforming all other US-listed, non-leveraged and non-inverse exchange-traded notes ("ETNs") and exchange-traded funds ("ETFs")
such as the Vanguard Information Technology ETF (Ticker: VGT, NYSE), Technology Select Sector SPDR Fund (Ticker: XLK, NYSE), iShares Dow Jones U.S. Technology Sector Index Fund (Ticker: IYW, NYSE) and iShares S&P Global Technology Sector Index Fund (Ticker: IXN, NYSE).
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Source: ETRACS
SPDR ETF Family Announces Impact of Receiving Settlement Payments
February 23, 2012--The SPDR Morgan Stanley Technology ETF today announced that the fund received payment as an authorized claimant from a class action settlement related to Juniper Networks, Inc.
The total amount payable to the Fund is listed below. When the Fund calculates its net asset value (“NAV”) per share on Friday, February 24, 2012, it is estimated that the Fund’s NAV will be impacted by the receipt of the corresponding payment in the amount stated below based on the shares outstanding as of February 22, 2012.
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Source: SPDR Exchange Traded Funds
ALPS files with the SEC
February 23, 2012--ALPS has filed a post-effective amendment, registration statement with the SEC.
view filing
Source: SEC.gov
Global X files with the SEC
February 23, 2012--Global X has filed a post-effective amendment, registration statement with the SEC for the
Global X FTSE Nordic Region ETF
Global X FTSE Norway 30 ETF
and
Global X FTSE Denmark 20 ETF1*
Global X FTSE Finland 25 ETF2*
view filing
Source: SEC.gov
Market volatility? Don't blame ETFs, says ICI
New research from industry groups shows that macroeconomic events are more to blame for volatility than exchange-traded funds
February 23, 2012--The finger-pointing began with the flash crash in 2010, with critics increasingly pointing to them as one of the causes of heightened market volatility.
But according to a new report by the Investment Company Institute, ETFs are innocent of the charges of driving volatility. A joint report from the Securities and Exchange Commission and the Commodity Futures Trading Commission also found that ETFs weren't the cause of the flash crash.
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Source: Investment News
Re-Proposed Procedures to Establish Appropriate Minimum Block Sizes for Large Notional Off-Facility Swaps and Block Trades
Further Measures to Protect the Identities of Parties to Swap Transactions-Statement of Commissioner Scott D. O'Malia
February 23, 2012--
On December 7, 2010, the Commission proposed a rule that attempted to: establish minimum block sizes for large notional off-facility swaps and block trades; and institute measures to protect the identities of parties to swap transactions.1
Unfortunately, that proposal was fundamentally flawed and received numerous critical comments from market participants. Recognizing that the proposal was beyond repair, the Commission wisely chose to withdraw the proposal and began anew. I commend my fellow commissioners and staff for having the wherewithal to admit error and to develop a new proposal. Unfortunately, the new draft, while a modification of the block formula, still fails to establish a realistic proposal that utilizes asset-specific data to develop reasonable block standards, rather than a one-size-fits-all solution.
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Source: CFTC.gov
FINRA Issues New Investor Alert To Help Investors Understand Their Brokerage Account Statements
February 23, 2012--The Financial Industry Regulatory Authority (FINRA) today issued a new Investor Alert called It Pays to Understand Your Brokerage Account Statements and Trade Confirmations to help guide investors through the key elements of their account statements and trade confirmations.
FINRA is reminding investors that reviewing their account statements not only helps them stay on top of their holdings, but also alerts them to errors or broker or firm misconduct, such as unauthorized trading or overcharging customers for handling transactions.
"Investors whose portfolios have taken a hit might not be keen to open their account statements, but investors should review their statements carefully—and immediately call the firm that issued the statement about any fee they do not understand or transaction they did not authorize," said Gerri Walsh, FINRA's Vice President for Investor Education. "Investors should also review trade confirmations as soon as they receive them because a single keystroke can make the difference between 100 and 1,000 shares."
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Source: FINRA
Invesco PowerShares to Expand High Beta Family of ETFs
Complete Suite of PowerShares Global Factor-Driven ETFs Offer High Beta and Low Volatility Strategies Spanning U.S., International Developed, and Emerging Markets
February 22, 2012--Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), today announced the anticipated listing of two new ETFs that will provide investors with access to high-beta strategies covering emerging and international developed markets.
The ETFs are expected to begin trading February 24, 2012 on the NYSE Arca. The two new portfolio names and ticker symbols are as follows:
High Beta Strategies:
EEHB PowerShares S&P Emerging Markets High Beta Portfolio
IDHB PowerShares S&P International Developed High Beta Portfolio
On May 5, 2011, Invesco PowerShares launched the first exchange-traded funds covering high beta and low volatility strategies for the U.S market. Today, with over $1.3 billion in AUM, the suite of PowerShares Global Factor-Driven ETFs provide advisors and investors with a disciplined approach and full range of tools for increasing beta or lowering volatility in their portfolios.
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Source: Invesco PowerShares
