Americas ETP News
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ProShares files with the SEC
March 31, 2011--ProShares has filed a registration statement with the SEC for the ProShares Short 7-10 Year Treasury Fund.
view filing
Source: SEC.gov
New York markets cancel ETF trades
March 31, 2011--Nasdaq OMX and NYSE cancelled trades in 10 exchange-traded funds after their prices plummeted in early trading on Thursday, raising questions about measures implemented to safeguard investors against sharp market swings after last year’s “flash crash”.
The exchanges cancelled certain trades that occurred in 10 of 15 Focus Morningstar ETFs that launched on Wednesday, said a spokesperson for Scottrade Financial Services, the ETFs’ sponsor.
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Source: FT.com
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
March 31, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Thursday, March 31, 2011:
D-Box Technologies Inc. (TSXVN:DBO.A) will be removed from the index.
The company will graduate to trade on TSX under the ticker symbol "DBO".
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 & Poors
FQF files with the SEC
March 30, 2011--FQF has filed a registration statement with the SEC for 7 ETFs>
QuantShares U.S. Market Neutral Momentum Factor Fund – (MOM)
QuantShares U.S. Market Neutral Value Factor Fund – (CHEP)
QuantShares U.S. Market Neutral Beta Factor Fund – (BTAH)
QuantShares U.S. Market Neutral Small Size Factor Fund – (SIZ)
QuantShares U.S. Market Neutral Quality Factor Fund – (QLT)
QuantShares U.S. Market Neutral Anti-Momentum Factor Fund – (NOMO)
QuantShares U.S. Market Neutral Anti-Beta Factor Fund – (BTAL)
view filing
Source: SEC.gov
Hedge funds, private equity funds demand confidentiality
March 30, 2011-According to Forbes, recent rules proposed by the Securities and Exchange Commission (SEC) in connection with the Dodd Frank reforms have received strong attention and criticism from hedge funds and private equity funds.
Sponsors and managers of these funds are now required to register with the SEC, and they are requesting that steps be taken by the regulator to protect the confidentiality of the information that is provided. The generous “private adviser” exemption, which permitted many fund managers to remain outside the SEC’s reach regardless of the size of their funds, has now been repealed.
Source: Forbes
Direxion files with the SEC
March 30, 2011--Direxion has filed a post-effective amendment, registration statement with the SEC.
view filing
Source: SEC.gov
iShares Launches a High Dividend Equity Exchange Traded Fund
The New Fund Responds to Investors' Desire for Income-Oriented Products
March 30, 2011--BlackRock, Inc. (NYSE: BLK) today announced that its iShares® Exchange Traded Funds (ETFs) business, the world's largest manager of ETFs, is scheduled to launch the iShares High Dividend Equity Fund (NYSE Arca: HDV) on the NYSE Arca on March 31, 2011. The new fund provides exposure to high quality income-producing U.S. securities.
iShares offers a broad and modular suite of income-focused ETFs, allowing investors to implement dividend investing strategies using diversified and cost-effective vehicles. iShares launched the first US-listed dividend ETF (NYSE Arca: DVY) in 2003.
"Income is in high demand, yet continues to be hard to come by from traditional sources in a cost-effective, diversified, flexible trading manner," said Noel Archard, Head of US Product at iShares at Blackrock. "A basket of high dividend yielding equities can often provide investors with several benefits such as the potential for enhanced total return (especially in uncertain market environments), possible reduced volatility as compared to more growth-oriented stocks, and greater inflation protection than bonds through the ability to provide capital appreciation."
The fund is benchmarked to the Morningstar Dividend Yield Focus Index, which provides access to U.S. equity securities issued by companies that have provided relatively high dividend yields on a consistent basis. Morningstar's proprietary index methodology screens U.S. companies for superior company quality and financial health based on the Morningstar's Economic Moat™ rating system and the Morningstar Distance to Default measure. Economic moat describes the sustainability of a company's future economic profits, and distance to default measures the likelihood that a company may encounter financial distress1. The index provides access to the top 75 companies by dividend yield that meet the eligibility criteria. The top three sectors in the index as of 2/28/11 are Consumer Goods (19.8%), Healthcare (19.1%) and Utilities (17.1%).
Source: BlackRock
Scottrade's FocusShares Launches New Family of 15 Low-Cost ETFs
March 30, 2011--FocusShares, LLC, a registered investment advisor (RIA), exchange-traded fund (ETF) sponsor and affiliate of online investing firm Scottrade, Inc., today launched 15 new low-cost ETFs benchmarked to indexes licensed from Morningstar, Inc. The FocusTM Morningstar ETFs begin trading today on NYSE Arca and are the first investment products sponsored by FocusShares since being acquired in June 2010 by Scottrade Financial Services, Inc., the parent holding company of Scottrade, Inc.
Each FocusTM Morningstar ETF is among the lowest-cost ETFs in its category available today. Online trading of these ETFs will be available commission-free to Scottrade brokerage customers and registered investment advisors using Scottrade® Advisor Services as their custodian. Investors and advisors who are not Scottrade brokerage customers can purchase FocusTM Morningstar® ETFs through their brokerage firms by paying applicable commissions.
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Source: Morningstar
FocusShares Launches 15 New ETFs Linked to Morningstar® Indexes on NYSE Arca
March 30, 2011-- NYSE Euronext (NYX) announced today that FocusShares, LLC, has launched 15 new exchange traded funds (ETFs) on NYSE Arca. FocusTM Morningstar ETFs are benchmarked to indexes licensed from Morningstar, Inc., and are the first investment products sponsored by FocusShares since being acquired by Scottrade Financial Services, Inc., in 2010.
"We are pleased that FocusShares selected our platform to bring their new ETFs to market,” said Laura Morrison, head of NYSE Euronext U.S. ETP listing and trading. “We believe their listing choice underscores the value of the consultative services, market structure and technology that NYSE Arca provides its issuers and the ETF marketplace.”
“This is a great time to launch a new family of ETFs, particularly with the growing demand for ETFs, which hit a record $1 trillion in assets within the past few months,” said Erik Liik, President of FocusShares. “We are proud to list on NYSE Arca today to provide retail and institutional investors as well as financial advisors with low-cost funds based on reliable Morningstar® Indexes that will help them meet their individual investment goals and objectives.”
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Source: NYSE Euronext
Global X Funds Announces Share Split of Global X FTSE Colombia 20 ETF (GXG)
March 30, 2011-
Global X Funds, the New York based provider of exchange traded funds (ETFs), announced today that its Board of Trustees has approved a 2 for 1 split of the shares of the Global X FTSE Colombia 20 ETF (ticker: GXG). GXG's closing price on Monday, March 28, was $40.25.
This split will take place for shareholders of record as of the close of business on April 8, 2011, and will be payable after the close of trading on April 11, 2011. Fund shares will begin trading on a split-adjusted basis on April 12, 2011. Shareholders will see the change in their holdings sometime after that date, depending upon their brokerage firm's procedures.
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Source: GLOBAL X FUNDS
