Americas ETP News
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CFTC Releases Results of Limited Reviews of Futures Commission Merchants
CFTC did not find any material breaches of customer funds protection requirements during the spot check
January 25, 2012--The Commodity Futures Trading Commission (CFTC or Commission) today released findings of limited reviews of futures commission merchants (FCMs) to assess compliance with requirements to segregate customer funds pursuant to Section 4d of the Commodity Exchange Act (ACT).
The limited reviews also covered the FCMs’ obligation to set aside in secured accounts funds deposited by customers for trading on foreign boards of trade under Section 4(b) of the Act and Part 30 of the Commission’s regulations. As of the review date for each FCM, all of the FCMs were in compliance with the segregation or Part 30 secured amount requirements.
Last fall, after the collapse of MF Global, Inc., the Commission initiated a coordinated review with the CME and NFA of all FCMs that carried customer funds to assess compliance with the protection of customer funds and Commission regulations. There were 120 FCMs registered with the Commission as of October 31, 2011. Seventy of the FCMs held Section 4d segregated funds or Part 30 secured amount funds, and were subject to the limited reviews. The remaining 50 FCMs did not carry customer segregated or Part 30 secured funds, and were not subject to the limited reviews.
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Source: CFTC.gov
CFTC Staff to Host Public Roundtable to Discuss the “Available to Trade” Provision for Swap Execution Facilities and Designated Contract Markets
January 25, 2012-Staff of the Commodity Futures Trading Commission (CFTC) will hold a public roundtable on January 30, 2012, from 9:30 a.m. to 1:30 p.m., to discuss the proposed regulations to implement the “available to trade” provision of the trade execution requirement set forth in Section 2(h)(8) of the Commodity Exchange Act pursuant to Section 723 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The roundtable will discuss: 1) the filing process under Part 40 of the Commission’s regulations for a designated contract market (DCM) or swap execution facility (SEF) to notify the Commission that it has determined that a swap is “available to trade”; 2) the factors that a DCM or SEF must consider to make an “available to trade” determination; and 3) the meaning and parameters of “economically equivalent swap.” The roundtable will assist the CFTC in the rulemaking process.
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Source: CFTC.gov
BondEdge Solutions Expands ETF Library With iShares ETFs
Addition of 35 iShares Fixed Income ETFs to BondEdge Helps Insurance Professionals and Asset Managers Broaden Portfolio Management Capabilities
January 25, 2012--BondEdge Solutions, an Interactive Data company and leading provider of fixed income portfolio management software, today announced the addition of BlackRock Inc.'s (NYSE: BLK - News) iShares Exchange Traded Funds (ETFs) to the BondEdge ETF Library.
Insurance companies and other institutional asset managers are looking to implement portfolio strategies utilizing exchange traded funds," said Keith Webster, managing director, BondEdge Solutions. "Our clients have expressed the need for the ability to analyze ETFs in their portfolio analytics platforms. We are pleased to partner with a world-leading ETF provider to be among the first to offer a solution that incorporates ETF analytics capabilities and to help our clients manage portfolio risk more effectively."
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Source: Interactive Data Corporation
AdvisorShares Set to Launch Accuvest Global Opportunities ETF (ACCU)
ACCU Utilizes a Global Country Rotation Strategy that Seeks to Generate Alpha Above Global Benchmarks
January 25, 2012-- AdvisorShares Investments, a leading sponsor of actively managed Exchange Traded Funds (ETFs), today announced that the AdvisorShares Accuvest Global Opportunities ETF begins trading tomorrow, January 26th. ACCU is managed by Accuvest Global Advisors ("Accuvest"), a Walnut Creek, CA-based investment adviser that manages over $300 million in global portfolio assets.
Accuvest also manages the AdvisorShares Global Long Short ETF.
ACCU implements a global country rotation strategy that seeks long-term capital appreciation in excess of global equity benchmarks such as the MSCI All Country World Index. Accuvest, who pioneered the use of single-country ETFs to create top-down global equity strategies, utilizes ACCU's proprietary country ranking model which sorts countries from most attractive to least attractive, on a monthly basis, based on a broad range of nearly 40 different factors. Single-country ETFs from the 5-6 highest-ranked countries then form ACCU's portfolio.
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Source: AdvisorShares
First Trust files with the SEC
January 25, 2012--First Trust has filed a post-effective amendment, registration statement with the SEC.
view filing
Source: SEC.gov
SEC Filing- SPDR S&P 500 ETF TRUST
January 25, 2012--A post-effective amendment, registration statement has been filed for the SPDR S&P 500 ETF TRUST.
view filing
Source: SEC.gov
Legg Mason files with the SEC
January 25, 2011--Legg Mason has filed a post-effective amendment, registration statement with the SEC for the Legg Mason Batterymarch S&P 50 Index Fund.
view filing
Source: SEC.gov
State Street unit tackles active ETFs
Firm to partner with others to manage funds
Blackstone to be first joint venture
January 25, 2012--State Street Global Advisors, the third-largest exchange-traded fund provider in the United States, is entering the actively managed exchange-traded fund space, but with a twist.
Unlike other major firms, the State Street Corp unit is not only going to sell its own funds, but also will distribute funds and partner with other asset managers that do not have the regulatory wherewithal to go it alone.
State Street minds assets for hundreds of fund companies globally, with a total of $21.8 trillion in assets under custody, according to the firm.
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Source: Reuters
DB Global Equity Research: US ETF+ Monthly Directory : December 2011 ETPs
January 24, 2012--This document includes all US listed exchange-traded funds (ETFs) and exchange-traded vehicles (ETVs), plus a special section covering exchange-traded notes (ETNs). The directory is organized by asset class and asset-class-related sub sections. Within each sub section it has also been sorted.
For Equity and Fixed Income ETPs it is sorted by country (or sub region for regional products) in alphabetical order and by AUM in descending order, and for the other ETP asset classes it is sorted by sub sector in alphabetical order and by AUM in descending order.
A number of key information points per product has been included in order to enable the reader to get an overview in their respective area of interest. Among the key numeric information we include avg. daily turnover, assets under management, and cash flows (all in $US). If you have any questions for any of the products listed, or any suggestions on how to improve the directory going forward, please do not hesitate to get in touch.
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Source: Deutsche Bank - Global Equity Research
CBOE to launch trading in CBOE Emerging Markets ETF Volatility Index Options on January 31
Jamuary 24, 2012--The Chicago Board Options Exchange (CBOE) announced today that it will begin offering trading in options on the CBOE Emerging Markets ETF Volatility Index (VXEEM) on Tuesday, January 31.
The new options contract follows the introduction of trading in CBOE Emerging Markets ETF Volatility Index security futures (futures symbol:VXEM) at CBOE Futures Exchange (CFE) on January 9, 2012. Investors can use either or both products to hedge emerging markets volatility exposure or to make direct plays on emerging markets volatility.
CBOE Emerging Markets ETF Volatility Index options and security futures are the first of several ETF-based volatility index products planned for launch at CBOE and CFE in 2012.
The calculation of the CBOE Emerging Markets ETF Volatility Index is based on the well-known CBOE Volatility Index® (VIX®) methodology applied to options on the iShares MSCI Emerging Markets Index Fund (stock symbol: EEM), the eleventh most actively traded ETF option atCBOE in 2011. The CBOE Emerging Markets ETF Volatility Index is an up-to-the-minute market estimate of the expected 30-day volatility of EEM, calculated using real-time bid/ask quotes of EEM options that are listed on CBOE.
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Source: WFE
