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Morgan Stanley-US ETF Weekly Update
May 3, 2011--Weekly Flows: $7.8 Billion Net Inflows
ETFs Traded $305 Billion Last Week
Launches: 1 New ETF
State Street Changes Name & Index on Global ETF
BlackRock Changes REIT ETF Ticker
US-Listed ETFs: Estimated Flows by Market Segment
For the second consecutive week, ETFs posted net inflows ($7.8 billion in net inflows)
US Large-Cap ETFs led the way, exhibiting net inflows of $4.0 billion
ETF assets stand at $1.1 trillion, up 12.5% YTD; combination of market appreciation and net new money
13-week flows were mostly positive among asset classes
$36.9 billion net inflows into ETFs over past 13 weeks (International-Developed took in $10.8 billion)
Despite recent net inflows, US Large-Cap and EM Equity ETFs were the biggest drags on flows over the past
13 weeks (combined $3.1 billion net outflows)
US-Listed ETFs: Estimated Largest Flows by Individual ETF
PowerShares QQQ (QQQ) generated net inflows of $2.2 billion last week, the most of any ETF
8 out of the top 10 ETFs to exhibit net inflows last week tracked US Equity indices
Silver posted a recent high last week; however, the iShares Silver Trust (SLV) actually posted net outflows of
$558 million
request report
Source: Morgan Stanley
ETF Securities U.S. Marketing Arm Expands Sales Team
May 3, 2011--As part of aggressive US business expansion plans and continued growth in the U.S. physically backed Exchange Traded Product (ETP) platform (SGOL, SIVR, PPLT, PALL, AGOL, GLTR & WITE), ETFS Marketing LLC, has appointed Joe Valdman & Justin Levantino to the US Sales team.
Josef Valdman
Vice President Sales, US
Joe will be based in the New York office and will cover Wirehouses and Registered Investment Advisors in the North East region. Prior to joining ETFS, Joe was Vice President at Foreside Fund Services providing third party sales and marketing services to startup asset managers. Prior to Foreside, Joe was a member of a HNW wealth management team at Morgan Stanley. Previous to Morgan Stanley he graduated from the Paths of Achievement (POA) training program at Merrill Lynch. Joe has a Bachelor of Arts from the State University of New York Purchase College.
Justin Levantino
Vice President Sales, US
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Source: ETFS Marketing LLC,
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
May 3, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Tuesday, May 3, 2011:
Curis Resources Ltd. (TSXVN:CUV) will be removed from the index.
The company will graduate to trade on TSX under the same ticker symbol.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poor's
NSX Releases April 2011 ETF Data Reports
May 3, 2011--Highlights from the April 2011 reports include:
Assets in U.S. listed Exchange-Traded Funds (ETF) and Exchange-Traded Notes (ETN) continue to reach record levels, totaling approximately $1.14 trillion at April 2011 month-end, an increase of approximately 34% over April 2010 month-end when assets totaled almost $847 billion.
ETF/ETN net cash inflows for the month of April totaled approximately $22.4 billion.
Year-to-date 2011 net cash inflows reached a record $51.3 billion, an increase of 140% over the same time period in 2010 when net cash flows reached $21.3 billion.
ETF/ETN notional trading volume during April 2011 totaled almost $1.3 trillion, representing almost 28% of all U.S. equity trading volume.
At the end of April 2011, the number of listed products surpassed 1200 for the first time, totaling 1,216 compared to 998 listed products at the same time last year. Visit http://www.nsx.com/content/etf-assets-list for more info.
Source: National Stock Exchange
New IMF Report Warns of Overheating Risks in Latin America
May 3, 2011--Latin America continues to grow at a healthy pace led by strong expansion in domestic demand. But the region is experiencing an excessively stimulative environment that brings along the risk of overheating.
High commodity prices and easy external financial conditions are the main “tailwinds” propelling growth, in some instances at a pace faster than some economies are prepared for, says the International Monetary Fund’s new report Regional Economic Outlook Western Hemisphere: Watching Out for Overheating, presented today in Mexico City.
The region’s Gross Domestic Product (GDP) is estimated to have expanded by around 6 percent in 2010, and while it is projected to moderate to about 4.75 percent this year, this will require that governments withdraw any policy stimulus on a timely basis.
“Currently, we have a unique combination of factors,” said Nicolás Eyzaguirre, director of the IMF’s Western Hemisphere Department, during a presentation of the report hosted by Banco de México. “There is no record of another period in which interest rates were so low for so long in the advanced economies; demand from Asia has kept commodities prices at a high level; and emerging economies have better macroeconomic fundamentals than in the past, making them objectively more attractive to foreign capital.” On top of that, he pointed out, many countries have not yet rolled back stimulative policies put in place during the financial crisis to support demand, at times when restrain is needed.
view the Regional Economic Outlook: Western Hemisphere
Watching Out for Overheating report
Source: IMF
Alps files with the SEC
May 2, 2011--Alps has filed a post-effective amendment, registration statement with the SEC for the ALERIAN Plus MLP Infrastructure ETF and
the ALERIAN Natural Gas MLP ETF
view filing
Source: SEC.gov
ISE Reports Business Activity for April 2011
May 2, 2011-Dividend trades made up 4.6% of industry volume in April 2011.
ISE is third largest equity options exchange in April with market share of 19.2%, excluding dividend trades.
The International Securities Exchange (ISE) today reported average daily volume of 2.9 million contracts
in April 2011, a decrease of 11.5% compared to April 2010. Total options volume for the month was 58.3
million contracts.
ISE was the third-largest U.S. equity options exchange in April with market share of 19.2%*. Business highlights for the month of April include:
On April 11, 2011, ISE launched its new options trading system on Deutsche Börse Group’s Optimise™ trading architecture. The implementation of Optimise marks a critical milestone for the new system, which was developed by drawing on contributions from the expert technology teams at Deutsche Börse and ISE. With Optimise, ISE will significantly improve the latency profile of its trading system and offer enhanced functionality to member firms.
On April 13, 2011, ISE announced the unveiling of the U.S. Options Industry Room at Ronald McDonald House® New York. ISE took part in Ronald McDonald House New York’s “Adopt-a- Room” program by donating the profit it generated from organizing the 2010 Options Industry Conference. A room dedication ceremony was held on April 12, 2011, in honor of the donation that was made by ISE on behalf of the entire U.S. options industry.
read more
Source: International Securities Exchange (ISE)
Commodity Futures Trading Commission Votes to Establish a New Subcommittee of the Technology Advisory Committee (TAC)
New Subcommittee on Data Standardization is Seeking Nominations for Members
May 2, 2011--Commissioner Scott D. O’Malia, the chairman of the Technology Advisory Committee (TAC), announces that the Commission has voted to establish a Subcommittee on Data Standardization to develop recommendations regarding a standardized reference data depository representing the universe of legal and financial terms utilized in describing, defining, and valuing the various derivatives and other financial instruments which are presently and in the future may be traded on and off of regulated exchanges.
The creation of standardized reference points and data terms is anticipated to aid in the development and use of universal entity, product, and/or instrument identifiers and provide greater consistency in the collection, reporting, and management of individual transactions, underlying legal documents (including master agreements and credit support agreements), and risk exposures.
“The data and reporting mandates of the Dodd-Frank Act place the CFTC in the center of the complex intersection of data, finance and the law. There is a need and desire to go beyond legal entity identifiers and lay the foundation for universal data terms to describe transactions in an electronic format that are identifiable as financial instruments and recognizable as binding legal documents.
read more
Source: CFTC.gov
Fee Rate Advisory #1 for Fiscal Year 2012
May 2, 2011--The Securities and Exchange Commission today announced that, if a regular appropriation to the Commission for fiscal year 2012 is enacted on or before Oct. 1, 2011, the fees rates applicable to most securities transactions will decrease from $19.20 per million dollars to $15.10 per million dollars in fiscal year 2012. The new fee rates will go into effect on the later of Oct. 1, 2011 or 30 days after the appropriation is enacted. The assessment on security futures transactions will remain unchanged at $0.0042 for each round turn transaction.
The Commission determined these new rates in accordance with Section 31 of the Securities Exchange Act of 1934 (Exchange Act). Accordingly, the Commission consulted with both the Congressional Budget Office and the Office of Management and Budget regarding the annual adjustment. These adjustments do not affect the amount of funding available to the Commission. A copy of the Commission’s order issued April 29, including the calculation methodology, is available at: http://www.sec.gov/rules/other/2011/34-64373.pdf
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Source: SEC.gov
Dow Jones Indexes’ The Global Dow to Become Underlying Index for State Street Global Advisors’ SPDR Global Dow ETF
Stocks of 150 of the World’s Leading Companies Comprise The Global Dow.
May 2, 2011--Dow Jones Indexes, a leading global index provider, today announced The Global Dow, which measures the stock performance of 150 of the world’s leading companies, will become the underlying index for State Street Global Advisors’ SPDR® Global Dow ETF, effective May 2, 2011.
The equally weighted 150 stocks in The Global Dow are selected by an Averages Committee comprised of the Managing Editor of The Wall Street Journal, the head of Dow Jones Indexes research and the head of CME Group research – the same selection process used by the Dow Jones Industrial Average. (In 2010, CME Group acquired 90% of Dow Jones Indexes from Dow Jones & Co., a division of News Corp., and publisher of The Wall Street Journal.)
“The Global Dow tracks leading companies from around the world,” said Michael A. Petronella, President, Dow Jones Indexes. “By covering both the developed and emerging economies of the world, The Global Dow truly reflects, as closely as possible, the global stock market as it exists today.”
James Ross, Senior Managing Director and Global Head of SPDR Exchange Traded Funds at State Street Global Advisors, said: “We’re pleased to provide investors with access to The Global Dow, an innovative benchmark often viewed as a global extension of the Dow Jones Industrial Average.”
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Source: Dow Jones Indexes
