Americas ETP News
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Opening Statement, Meeting of: The Agricultural Advisory Committee
Chairman Gary Gensler
May 19, 2011--Good morning. Thank you Commissioner Dunn for chairing today’s meeting of the Agricultural Advisory Committee and for your leadership.
Though there will be many opportunities to thank and congratulate Commissioner Dunn for his more than six years of service to the Commodity Futures Trading Commission (CFTC) and 25 years of service to the Federal Government, I want to take this opportunity to publicly acknowledge Commissioner Dunn.
Mike is a trusted colleague who works incredibly hard in service to the American public at the CFTC. His significant and thoughtful contributions have strengthened all of our efforts at the Commission to promote transparency and lower risk in the derivatives markets to protect the American public. I am honored to have worked with Mike and to call him my friend.
I also join Commissioner Dunn in thanking my fellow Commissioners and the expert panelists and staff that have joined us this morning.
read more
Souce: CFTC.gov
Canada's ETF Providers Announce Creation of the Canadian ETF Association
May 19, 2011--New organization will help raise awareness of $40 billion Canadian ETF industry through education and outreach to private and public sector stakeholders
Three of Canada's leading exchange traded fund ("ETF") companies have agreed to collectively launch the Canadian ETF Association (the "CETFA"), an independent national association that will represent and promote the Canadian ETF industry.
The focus of the CETFA is to help educate institutional and retail investors as well as the advisor community on the benefits and uses of ETFs, provide industry statistics and commentary on ETF related issues to the Canadian financial media and advance industry issues with regulators, government agencies and interested third parties.
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Source: Canada NewsWire
First Trust files with the SEC
May 18, 2011--First Trust has filed a registration with the SEC for the First Trust North American Energy Infrastructure Fund.
view filing
Source: SEC.gov
Russell files with the SEC-amended application for exemptive relief
May 19, 2011--Russell has filed an amended application for exemptive relief for actively-managed ETFs.
view filing
Source: SEC.gov
Russell files with the SEC
May 18, 2011--Russell has filed a post-effective amendment, registration statement with the SEC.
view filing
Source: SEC.gov
First Hong Kong Small Cap ETF (HKK) Launched by IndexIQ
IQ Hong Kong Small Cap ETF (Ticker: HKK) is the first ETF dedicated
to the dynamic small-cap segment of the Hong Kong economy
May 18, 2011--IndexIQ, a leading developer of index-based liquid alternative investment solutions, is set to launch the IQ Hong Kong Small Cap ETF (Ticker: HKK) on the NYSE Arca platform this morning, it was announced today.
HKK is the first Exchange-Traded Fund (ETF) dedicated to providing access to Hong Kong’s
dynamic small-cap sector, an important component to the economic success of this “Asian Tiger.” Hong
Kong has grown rapidly for many decades, supported by its position as a strategic gateway to mainland
China, and by a strongly embedded free market culture. It recently was ranked #2 in the World Bank’s
“Ease of Doing Business Index”1 and has had a top ranking by the Index of Economic Freedom for the
last 15 consecutive years.2 Hong Kong currently ranks as the world 11th-largest trading entity.3 In 2009,
it was the largest center of initial public offerings (IPOs) in the world, with the IPOs listed on the
country’s stock exchange accounting for 22 percent of worldwide IPO capital raised that year.4
read more
Source: Index IQ
Morgan Stanley-US ETF Weekly Update
May 18, 2011--Weekly Flows: $4.7 Billion Net Inflows
ETF Assets Stand at $1.1 Trillion, Up 9% YTD
ETFs Traded $354 Billion Last Week
Launches: 3 New ETFs
US-Listed ETFs: Estimated Flows by Market Segment
ETFs rebounded last week, posting net inflows of $4.7 billion
US Large-Cap ETFs took in the most new money last week, but primarily driven by one fund (SPY)
ETF assets stand at $1.1 trillion, up 9% YTD; combination of market appreciation and net new money
13-week flows were mostly positive among asset classes, commodities being the outlier
$36.4 billion net inflows into ETFs over past 13 weeks (International Equity took in $14.1 billion)
We estimate ETFs have generated net inflows 13 out of 19 weeks YTD
US-Listed ETFs: Estimated Largest Flows by Individual ETF
SPDR S&P 500 ETF (SPY) generated net inflows of $3.4 billion last week, the most of any ETF
Despite last week’s positive flows, SPY is in the red for year, exhibiting net outflows of $973 million YTD
SPDR Gold Trust (GLD) exhibited the largest net outflows last week ($612 million) and for the year has now
posted net outflows 12 out of 19 weeks (net outflows of $3.9 billion YTD)
request report
Source: Morgan Stanley
US investors pile into exchange-traded funds
May 18, 2011--US investors are piling into exchange-traded stock funds, even as they become more bearish and pull back from actively managed funds.
Investors pumped a net $14.2bn into equity ETFs by the middle of the second quarter, nearly double the pace of investment in the first quarter, when net inflows for the entire period were $12.9bn, according to data from brokerage ConvergEx Group.
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Source: FT.com
Speech by SEC Chairman: Opening Statement at SEC Open Meeting by Chairman Mary Schapiro
May 18, 2011--Good morning. This is an Open Meeting of the Securities and Exchange Commission on May 18, 2011. Today, we will consider proposing rules that are intended to strengthen the integrity and improve the transparency of credit ratings.
These proposals arise from provisions of Title IX of the Dodd-Frank Wall Street Reform and Consumer Protection Act – which substantially augmented the Commission’s oversight of credit rating agencies that are registered as Nationally Recognized Statistical Rating Organizations (NRSROs).
The rules would establish new requirements for credit rating agencies, providers of third-party due diligence services with respect to asset-backed securities (ABS), and issuers and underwriters of asset-backed securities.
Proposals to Bolster the Integrity of Ratings In passing the Dodd-Frank Act, Congress noted the systemic importance of credit ratings. It also noted that ratings that were applied to structured financial products proved inaccurate – and contributed significantly to the mismanagement of risks by financial institutions and investors.
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Source: SEC.gov
SEC Proposes Rules to Increase Transparency and Improve Integrity of Credit Ratings
May 18, 2011--The Securities and Exchange Commission today voted unanimously to propose new rules and amendments intended to increase transparency and improve the integrity of credit ratings.
The proposed rules would implement certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and enhance the SEC’s existing rules governing credit ratings and Nationally Recognized Statistical Rating Organizations (NRSROs).
“In passing the Dodd-Frank Act, Congress noted that credit ratings applied to structured financial products proved inaccurate and contributed significantly to the mismanagement of risks by financial institutions and investors,” said SEC Chairman Mary L. Schapiro. “Our proposed rules are intended to strengthen the integrity and improve the transparency of credit ratings.”
view the Proposed Rules for Nationally Recognized Statistical Rating Organizations
Source: SEC.gov
