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Morgan Stanley-US ETF Weekly Update
May 9, 2011--US ETF Weekly Update
Weekly Flows: $4.2 Billion Net Outflows
ETFs Traded $445 Billion Last Week
Launches: 6 New ETFs
Van Eck Reduces Expenses on Five ETFs
US-Listed ETFs: Estimated Flows by Market Segment
ETFs posted net outflows of $4.2 billion last week, the largest weekly net outflow in 2011
US Small- & Micro-Cap ETFs were the biggest drag on flows, exhibiting net outflows of $2.5 billion last week
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
$34.7 billion net inflows into ETFs over past 13 weeks (International-Developed took in $10.6 billion)
We estimate ETFs have generated net inflows 12 out of 18 weeks YTD
US-Listed ETFs: Estimated Largest Flows by Individual ETF
SPDR DJIA ETF (DIA) generated net inflows of $1.1 billion last week, the most of any ETF
7 out of the top 10 ETFs that exhibited net outflows last week tracked US Equity indices
Given the drop in precious metals prices last week it does not come as a surprise that the SPDR Gold Trust
(GLD) and iShares Silver Trust (SLV) posted a combined net outflow of $1.9 billion
US-Listed ETFs: ETF Dollar Volume
ETF monthly $ volume declined to 27% of listed trading volume in April (down from 30% in March)
Weekly ETF $ volume spiked last week, up 46% from the prior week
Commodity ETFs accounted for 17% of weekly ETF volume last week, more than doubling its 13-week
average volume
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Source: Morgan Stanley
International Securities Exchange Elects New Member To Board Of Directors
May 9, 2011--The International Securities Exchange (ISE) today announced that Stanley Choung has been elected to its Board of Directors, effective immediately. Mr. Choung, Managing Director of the Institutional Equity Division for Morgan Stanley, will serve as an industry director representing ISE’s Primary Market Makers (PMMs). He replaces Sean Flynn of Timber Hill LLC, who is retiring due to term limits.
In addition, Mark Dehnert, a Partner at Goldman Sachs & Co. responsible for the Quantitative Equities Trading businesses in their Securities Division and previously an ISE industry director representing Electronic Access Members (EAMs), was re-elected to the ISE Board as a Competitive Market Maker (CMM) representative. Slade Winchester, Head of U.S. and international business development, technology and operations for the Citigroup Derivatives Markets, Inc. options market makers and previously an ISE industry director representing CMMs, was re-elected to ISE’s Board as an EAM representative. The following non-industry directors were also re-elected: Michael Kuhn, Chief Information Officer of Deutsche Börse AG; Michael Monaco, Senior Managing Director of Conway Del Genio Gries & Co., LLC; Joseph Stefanelli, a non-industry director of ISE since 2007, and; Kenneth Vecchione, Chief Operating Officer of Western Alliance Bancorp. Gary Katz, President and Chief Executive Officer of ISE, was re-elected as ISE’s Chief Executive Officer Director.
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Source: International Securities Exchange (ISE)
ELX Sets Multiple Volume Records: Overall Exchange, Combined U.S. Treasury Futures, 5-Year and 30-Year Futures
May 9, 2011--ELX Futures, L.P. (ELX), a leading electronic futures exchange, announced today that it established multiple new end-of-day volume records on Friday, May 6, including overall exchange; combined U.S. Treasury futures contracts, 5-year note and 30-year bond.
ELX ended the session with a record of 148,308 contracts traded and 120,137 contracts traded for combined U.S. Treasuries. The 5-year note hit a record volume of 43,748 contracts traded and the 30-year bond also set a new record with 26,117 contracts traded.
Neal Wolkoff, Chief Executive Officer of ELX Futures, said, “This has been a record-achieving week for ELX with multiple new records set in our futures products. This shows the great strides ELX has made in the futures marketplace to capture new business. Momentum remains strong and we expect to continue to grow our volume, market share and customer base.”
Source: ELX Futures
First Trust Advisors L.P. introduces the FIRST ETF focused on the Global Manufacturing of Automobiles
May 6, 2011--First Trust Advisors L.P. (“First Trust”), the fastest growing
Exchange-Traded Fund (“ETF”) sponsor among the ten largest sponsors (by assets raised) since 2010,
announced today that Ryan Issakainen, Vice President, ETF Strategist, will ring the opening bell of The
NASDAQ Stock Market at 9:30 a.m. Eastern Time on Friday, May 13, 2011, to celebrate the release of
the first ETF focused on the global manufacturing of automobiles.
First Trust executives and guests will
participate in the event. The bell ringing will recognize the launch of the first automotive ETF in the
industry, the First Trust NASDAQ Global Auto Index Fund (NASDAQ: CARZ), which is expected to begin trading May 10, 2011. The Fund will seek investment results that correspond generally to the
price and yield (before the Fund’s fees and expenses) of the NASDAQ OMX Global Auto IndexSM, which is designed to track the performance of the largest and most liquid companies engaged in the
manufacturing of automobiles.
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Source: First Trust
