Americas ETP News
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CFTC Announces First Public Meeting of the Technology Advisory Subcommittee on Data Standardization
July 25, 2011--Subcommittee will Look Into Public/Private Solutions for Creating Well-Accepted Standards for Describing, Communicating, and Storing Data on Complex Financial Products
Washington, DC – The Commodity Futures Trading Commission (CFTC) today announced that on August 5, 2011, the Subcommittee on Data Standardization, a new Subcommittee of the CFTC’s Technology Advisory Committee, will hold a public meeting.
This will be the first of at least three subcommittee public meetings to occur this year, with the other two public meetings tentatively scheduled for September 30, 2011, and November 4, 2011.
The Subcommittee meeting will begin at 1pm in the Conference Center at the CFTC’s Headquarters, Three Lafayette Centre, 1155 21st Street, NW, Washington, DC. The discussion will be open to the public with seating on a first-come, first-served basis.
Members of the public also may listen by telephone and should be prepared to provide their first name, last name and affiliation.
Source: CFTC.gov
Global X files with the SEC
July 22, 2011--Global X has filed a post-effective amendment, registration statement with the SEC for the Global X Social Media Index ETF.
view filing
Source: SEC.gov
Yorkville files with the SEC
July 22, 2011--Yorkville ETF Trust has filed a Amended and Restated Application for exemptive relief with the SEC.
view filing
Source: SEC.gov
Rydex files with the SEC
July 22, 2011--Rydex has filed a post-effective amendment, registration statement with the SEC for the Rydex S&P MidCap 400 Equal Weight ETF -(EWMD) and the
Rydex S&P SmallCap 600 Equal Weight ETF -(EWSM)
view filing
Source: SEC.gov
iShares files with the SEC
July 22, 2011--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares 2012 S&P AMT-Free Municipal Series Fund.
view filing
Source: SEC.gov
Global X building ETFs for fundamental global shifts
July 22, 2011--Global X is a prime example of the new wave of US exchange traded fund providers that have managed to build a substantial ETF business in a dizzyingly short period of time.
Global X launched its first ETF in February of 2009, but had accumulated assets of $1.6bn by the end of June this year.
read more
Source: FT.com
US court deals blow to investor activism
July 22, 2011--A US federal appeals court has thrown out new rules from the Securities and Exchange Commission intended to make it easier for shareholders to eject board members at listed companies, in a move that will be seen as a blow to investor activism.
Judges on Friday sided with the US Chamber of Commerce and the Business Roundtable, who had opposed “proxy access” measures that would force companies to bear much of the cost of proposing alternative candidates in boardroom elections.
read more
Source: FT.com
Schwab files with the SEC
July 22, 2011-Charles Schwab has filed a post-effective amendment no. 14, registration statement with the SEC for the Schwab U.S. Aggregate Bond ETF.
view filing
Source: SEC.gov
CFTC.gov Commitments of Traders Reports Update
July 22, 2011--The current reports for the week of July 19, 2011 are now available
view updates
Source: CFTC.gov
Deutsche Bank - Equity Research - North America-US ETF Market Weekly Review : Q3 kicks off with strong ETP flows but mixed sentiment
June 22, 2011--Encouraging early quarter ETP flows, but investors remain cautious
Although recent economic data has turned more optimistic, investors remain cautious with an eye on what is going on with the US debt ceiling discussions at Washington and the Greek Sovereign crisis developments in Europe. Equity markets in the US (S&P 500) plummeted by 2.06% over the last week.
Last week, total US ETP flows from all products registered $1.4bn of outflows vs $10.6bn of inflows the previous week, setting the YTD weekly flows average at +$2.4bn. US ETP AUM lost almost $15bn, closing at $1.1 trillion or 10.2% up YTD.
Being this our first weekly report for the quarter, we focused on the main long-only investment trends since the end of Q2-11
The beginning of Q3-11 suggests that investors’ sentiment towards risky assets is mixed. The first full week of the quarter was very active with $11.3bn in inflows followed by $1.4bn in outflows the week after. On a QTD basis, long-only Equity, Fixed Income, and Commodity ETPs have received inflows for $6.7bn, $2.2bn, and $1.6bn, respectively. Within the main asset classes we have seen inflows into Gold (+$1,8bn), Growth (+$1.5bn), EM Broad (+$1.0bn), High Yield (+$0.83bn), and Japan (+$0.71bn) ETPs
Long only equity ETPs recorded $4.2bn of outflows last week vs $10.3bn of inflows the previous week. QTD and from a geographic allocation perspective, US-focused ETPs have concentrated the bulk of the inflows (+$3.6bn), followed by DM ex US, EM, and Global ETPs with +$1.2bn, +$1.1bn, and +$0.7bn in the same period, respectively.Long-only fixed Income ETPs recorded inflows of $728m last week. QTD, Corporate ETPs have had $1.6bn inflows, followed by broad benchmarked funds with $364m. Commodity ETPs recorded inflows of $1.8bn last week. QTD and at a sector level, Precious Metals ETPs have recorded the largest inflows with $2.0bn; while Energy ETPs have registered the largest outflows with $337m.
New Launch Calendar: moving beyond equity vehicles There have been 7 new ETPs and 3 ETNs listed since the end of last quarter. The new ETPs and ETNs will offer exposure to international equities, alternative, fixed income, and inflation-related returns. (See Figure 3 for more details).
Turnover Review: Floor activity increases as volatility soars
After the shorter week following the Independence Day holiday, total weekly turnover increased by 51.9% to $399bn vs. $263bn in the previous week. The market plunge and increased volatility pushed Equity ETP turnover $113bn or 48.4% higher to $347bn. Commodity ETPs turnover was also high driven by the precious metals sector, total weekly turnover was $33.7bn last week. Finally, Fixed Income products turnover flourished totaling $14.2bn at the end of last Friday, about 37% higher from the previous week.
Assets Under Management (AUM) Review:
$15.4bn drained from ETP assets The markets retreated last week after the rally experienced around the end of Q2-11. ETP AUM dropped by $15.4bn or 1.4% during last week. ETP AUM settled at $1.096 trillion as of the end of last Friday, recording a $101bn or a 10.2% increase on a YTD basis.
to request report
Source: Deutsche Bank - Equity Research
