Americas ETP News
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CFTC Announces Second Public Meeting of the Technology Advisory Subcommittee on Data Standardization
Subcommittee Working Groups to Present Interim Findings Aimed at Creating Universally Acceptable Standards for Complex Financial Products
September 28, 2011-– The Commodity Futures Trading Commission (CFTC) announces that on September 30, 2011, the Subcommittee on Data Standardization of the CFTC’s Technology Advisory Committee (the “Subcommittee”) will hold its second public meeting at the Commission’s headquarters in Washington, DC.
This meeting will provide the four Subcommittee working groups comprised of qualified representatives from government, industry, academia, information technology and information systems an opportunity to publicly present interim findings on universal product and legal entity identifiers, standardization of machine-readable legal contracts, semantics, and data storage and retrieval.
United States Commodity Funds files with the SEC
September 28, 2011--United States Commodity Funds has filed a Form S-1 registration statement with the SEC for the United States Sugar Fund.
view filing
Source: SEC.gov
AdvisorShares files with the SEC
September 28, 2011--AdvisorShares have filed a post-effective amendment, registration statement with the SEC for the AdvisorShares Global Echo ETF
(GIVE)
view filing
Source: SEC.gov
BMO ETF Business Grows As Investors Seek Out Value and Innovation
Low management fees range from 0.15% to 0.65%
BMO offers 40 ETFs with exposure to commodities, equities and fixed income
BMO's ETF business has grown to $3 billion in less than two and a half years
September 28, 2011--As the popularity of Exchange Traded Funds (ETFs) grow in Canada, BMO's portfolio of ETFs continues to offer a wide range of exposure to investors while also providing them with value and low management fees.
BMO's ETF business was launched in 2009 and, at the time, was the only bank affiliate to offer its own line-up of ETFs. Since then, BMO's ETF product line has grown to 40 funds and its assets under management (AUM) to more than $3 billion.
"The growth of our ETF business is a clear indicator that Canadian investors are seeking solid value from their investments," said Kevin Gopaul, VP & CIO, BMO Asset Management Inc. "Our ongoing commitment to evolving the ETF landscape, coupled with our desire to give investors innovative products, has resulted in a number of industry firsts and wide recognition."
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Source: BMO Financial Group
Claymore files with the SEC
September 28, 2011-Claymore files a post-effective amendment, registration statement with the SEC for the Guggenheim Canadian Energy Income ETF
Guggenheim China Real Estate ETF
Guggenheim China Small Cap ETF.
Guggenheim Frontier Markets ETF
Guggenheim International Multi-Asset Income ETF
Guggenheim Shipping ETF
Guggenheim Timber ETF
view filing
Source: SEC.gov
Claymore files with the SEC
September 28, 2011--Claymore has filed a post-effective amendment, registration statement with the SEC for the Guggenheim S&P Global Dividend Opportunities Index ETF (LVL).
view fiing
Source: SEC.gov
Russell files with the SEC
September 28, 2011--Russell has filed a post-effective amendment, registration statement with the SEC for the Russell Small Cap Aggressive Growth ETF (SGGG)
Russell Small Cap Consistent Growth ETF (SCOG)
Russell Small Cap Low P/E ETF (SCLP)
Russell Small Cap Contrarian ETF (SCTR)
view filing
Source: SEC.gov
NYSE Liffe to Publish Weekly Commitments of Traders Reports
September 28, 2011--NYSE Liffe, the derivatives arm of NYSE Euronext, will start publishing traders’ holdings within the market for its London commodity contracts as of Oct. 3.
The report, designed in a similar format to the one published by the U.S. Commodity Futures Trading Commission, will be published every Monday at 12 p.m. London time, the exchange said in a notice to members dated Sept. 27 and e-mailed today. It will refer to positions reported to the exchange by the close of business the previous Tuesday, it said.
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Source: Bloomberg
Brazil Rate Futures Yields Fall as Europe Debt Crisis Fuels Bets
September 28, 2011--Yields on most Brazilian interest- rate futures contracts fell as the deepening debt crisis in Europe fueled bets the central bank will continue lowering borrowing costs.
Yields on the contract due in January 2013 declined two basis points, or 0.02 percentage point, to 10.41 percent at 5 p.m. in New York.
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Source: Bloomberg Business Week
DB Global Equity Research: US ETF Market Weekly Review-- Market meltdown sends ETP AUM below $1 trillion
September 28, 2011--Where is the safe haven?
The latest measure announced by the Fed last Wednesday (i.e. "Operation Twist") was not enough to satisfy investors' anxiety as rising liquidity concerns affecting European Sovereigns and Financials more than offset any positive effect intended by the new policy measure. Equity markets in the US (S&P 500) went on free fall mode and lost 6.54%
The total US ETP flows from all products registered $6.5bn of outflows during last week vs $11.5bn of inflows the previous week, setting the YTD weekly flows average at +$1.9bn.
Last week long only ETPs experienced outflows of $6.7bn following the equity markets free fall triggered by rising European financial liquidity concerns. Long only equity and commodity ETPs were affected by the risk-off trade and experienced $8.3bn, and $334m of outflows, respectively; while fixed income ETPs stayed firm and attracted $1.9bn of inflows.
In the last weekly report we mentioned that we estimated that up to $6bn of inflows were deemed temporary and likely to be reversed. Conversely we believe that about $5bn out of the $8.3bn in outflows we had in long-only equity ETPs last week correspond to such reversal. Even after adjusting by this seasonal event which affects the SPY flows around the S&P 500 rebalancing dates, we would still have more than $3.0bn in outflows for the week which clearly reconfirms that the markets are still in risk-off mode.
Our flows data suggests that investors are running out of safe havens. Among the usual risk-off trades, we noticed that the only one with significant upside momentum during last week was the IG segment within Fixed Income ETPs (+$1.5bn). We believe that the widespread volatility affecting the equity, gold and interest rates markets have motivated investors to seek preservation of capital instead of uncorrelated returns as the current safe haven of choice.
New Launch Calendar: the ETP menu keeps adding choices
There were 9 new ETPs and 2 new ETNs listed on NYSE Arca during the previous week. The new products cover four different asset classes offering access to single commodity, Chinese debt in Yuan, and TIPS returns, among others.
Turnover Review: Floor activity rose on higher volatility
Total weekly turnover increased by 16.1% to $532bn vs. $458bn in the previous week. The three main asset classes experimented increases. The largest increase was on Equity ETP turnover, which rose by $54bn or 113.3% to $463bn. Fixed Income ETP turnover increased by $8.2bn to $23.2bn last week. Finally, Commodity ETPs products turnover increased by $11.2bn, totaling $39.4bn at the end of last Friday.
Assets Under Management (AUM) Review: Almost $75bn wiped away
The equity and commodity prices plunge combined with significant outflows contributed to a week-over-week ETP AUM drop of $74.2bn or 7.2%. ETP AUM ended up the week at $962 billion or -3.2% down YTD, its lowest level this year.
to request report
Source: Deutsche Bank - Global Equity Research
