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U.S. Global Investors files with the SEC
July 30, 2013--U.S. Global Investors has filed an application for exmptive relief with the SEC.
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Ranger Alternative Management files iwth the SEC
July 30, 2013--Ranger Alternative Management has filed a second amended and restated application for exemptive relief with the SEC.
U.S. Global Investors files with the SEC
July 30, 2013--U.S. Global Investors has filed an application for exmptive relief with the SEC.
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Global X files with the SEC
July 30, 2013--Global X has filed a post-effective amendment, registration statement with the SEC for the
Global X MLP & Energy Infrastructure ETF.
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BlackRock files with the SEC
July 30, 2013--BlackRock has filed a preliminary prospectus with the SEC for the BlackRock Cori Funds.
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Home Prices Continue to Increase in May 2013, According to the S&P/Case-Shiller Home Price Indices
July 30, 2013--Data through May 2013, released today by S&P Dow Jones Indices for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, showed increases
of 2.5% and 2.4% for the 10- and 20-City Composites in May versus April.
Dallas and Denver reached record levels surpassing their pre-financial crisis peaks set in June 2007 and August 2006.
This is the first time any city has made a new all-time high.
The 10- and 20-City Composites annual returns rose slightly from April to May as they posted the best year-over-year gains since March 2006. All 20 cities increased from May 2012 to May 2013 and from April 2013 to May 2013.
Most ETNs are overpriced, study claims
July 30, 2013--Research claims to show that market prices of most ETNs do not accurately reflect their risks and that the notes should trade at greater discounts
Most exchange-traded notes (ETNs) are overpriced, according to a study of 17 such notes that traded on US exchanges between 2002 and 2011.
Aggressive, Knowledgeable and Wealthy Investors Find Exchange Traded Funds Attractive Alternative to Mutual Funds
July 30, 2013--High Net Worth (HNW) investors and investors who are knowledgeable about their investment choices are purchasing Exchange Traded Funds at a higher rate than other investors, according to Exchange Traded Funds Investing by the HNW, a 2013 Spectrem Group Perspective.
Exchange Traded Funds are attractive to investors as a way to diversify their portfolio, and because they have lower fees and expenses. The Spectrem Group report details how investors view ETFs, why they are purchasing them, and how they are compared to more traditional investments such as mutual funds.
CFTC's Division of Market Oversight Issues Time-Limited No-Action Relief from the Prohibition of Aggregation Under (section) 43.6(h)(6) for Large Notional Off-Facility Swaps
July 30, 2013--The Commodity Futures Trading Commission's ("CFTC") Division of Market Oversight ("Division") today issued a letter providing no-action relief from the aggregation prohibition
in § 43.6(h)(6) for certain commodity trading advisors (“CTA”) and investment advisors (“IA”) with respect to large notional off-facility swaps until 11:59 p.m. Eastern time on October 1, 2013.
CBOE to add VIX trading hours in September, after delay
July 29, 2013--July 29, 2013--CBOE Holdings Inc said on Monday it will expand trading hours for futures on the CBOE Volatility Index in late September, after a technical glitch delayed the change.
CBOE, operator of the Chicago Board Options Exchange, is aiming to increase overseas trading of its lucrative VIX futures by adding 5 hours and 45 minutes to the trading day in two stages. The biggest chunk of extra time will come during European trading hours.
ISE Gemini Set to Launch on August 5, 2013
SEC Approves ISE's Form 1 Application for ISE Gemini(TM)
July 29, 2013--
The International Securities Exchange (ISE) announced that the SEC has approved its Form 1 application for ISE GeminiTM, ISE's second options exchange that will complement its existing market.
Set to launch on August 5, 2013, ISE Gemini will ramp up over several weeks, beginning with a small number of symbols and eventually trading all of the most active options classes.
"The launch of ISE Gemini on August 5 will be the culmination of a great deal of hard work by the ISE team to deliver this important initiative,” said Boris Ilyevsky, Managing Director of ISE’s options exchanges. “We are operationally ready for the launch and in the final stages of working with our members to trade on ISE Gemini. We are excited to offer our members a new pricing structure through ISE Gemini with the same technology and market structure that are hallmarks of ISE.”
SEC Approves ISE's Form 1 Application for ISE GeminiTM
ISE Gemini Set to Launch on August 5, 2013
July 29, 2013--The International Securities Exchange (ISE) announced that the SEC has approved its Form 1 application for ISE GeminiTM, ISE's second options exchange that will complement its existing market.
Set to launch on August 5, 2013, ISE Gemini will ramp up over several weeks, beginning with a small number of symbols and eventually trading all of the most active options classes.
“The launch of ISE Gemini on August 5 will be the culmination of a great deal of hard work by the ISE team to deliver this important initiative,” said Boris Ilyevsky, Managing Director of ISE’s options exchanges. “We are operationally ready for the launch and in the final stages of working with our members to trade on ISE Gemini. We are excited to offer our members a new pricing structure through ISE Gemini with the same technology and market structure that are hallmarks of ISE.”
DB-Synthetic Equity & Index Strategy-North America-US ETF Market Weekly Review-US ETPs gathered $3.6bn in new cash amid US flat market
July 29, 2013--Data in this report is as of Fri, July 26
Market and Net Cash Flows Review
Markets were flat-to-positive during last week. The US (S&P 500) ended practically flat for the week; while, outside the US, the MSCI EAFE (in USD) and the MSCI EM (USD) rose by 0.31% and 1.20%, respectively.
Moving on to other asset classes, the 10Y US Treasury Yield rose by 8 bps last week; while the DB Liquid Commodity Index was down by 1.22%. Similarly, the Agriculture sector (DB Diversified Agriculture Index) and the WTI Crude Oil pulled back by 1.50% and 3.10%, respectively, meanwhile, Gold and Silver prices rose by 2.87% and 2.54%, respectively. Last but not least, Volatility (VIX) rose by 1.44% during the same period.
The total US ETP flows from all products registered $3.6bn (+0.2% of AUM) of inflows during last week vs. $11.5bn (+0.8%) of inflows the previous week, setting the YTD weekly flows average at +$3.6bn (+$109.2bn YTD in total cash flows).
Equity, Fixed Income and Commodity ETPs experienced flows of +$2.6bn (+0.2%), +$0.9bn (+0.3%) and -$34mn (-0.0%) last week vs. +$11.3bn (+1.0%), +$0.6bn (+0.2%) and -$0.3bn (-0.5%) in the previous week, respectively.
Among US sectors, Financials (+$0.5bn, +0.9%) and Healthcare (+$0.5bn, +3.0%) received the top inflows, while Energy (-$0.4bn, -1.7%) and Materials (-$0.3bn, -3.5%) experienced the largest outflows.
Top 3 ETPs & ETNs by inflows: IWM (+$0.6bn), IEF (+$0.5bn), DIA (+$0.4bn)
Top 3 ETPs & ETNs by outflows: SPY (-$2.0bn), QQQ (-$0.8bn), USMV (-$0.5bn)
New Launch Calendar: China and Dividend Growth
There were two new ETFs listed during the previous week, one of them was listed on the NYSE Arca and the other one on the NASDAQ. KraneShares made its debut with a new Equity ETF (KFYP) that offers thematic exposure to China; meanwhile, WisdomTree launched DGRS, which offers access to growing dividend paying small-cap securities.
Turnover Review: Floor activity increased by 3.1%
Total weekly turnover increased by 3.1% to $253.6bn vs. $245.9bn from the previous week. However, last week's turnover level was 6.0% below last year's weekly average. Equity, Fixed Income and Commodity ETPs turnover increased by $5.8bn (+2.7%), $0.5bn (+2.4%) and $1.7bn (+21.8%) during the same period, respectively.
Assets under Management (AUM) Review: assets increased by $5.5bn
US ETP assets rose by $5.5bn (+0.4%) totaling $1.520 trillion at the end of the week. As of last Friday, US ETPs had accumulated an asset growth of +14.0% YTD. Assets for Equity, Fixed Income and Commodity ETPs moved +$4.0bn, +$0.2bn and +$1.3bn during last week, respectively.
iShares files with the SEC-iShares(R) Dow Jones-UBS Roll Select Commodity Index Trust
July 29, 2013--iShars has filed a Pre-Effective Amendment NO. 4 to Form S-1 with the SEC for the
iShares(R) Dow Jones-UBS Roll Select Commodity Index Trust.
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Guggenheim files with the SEC
July 29, 2013--Guggenheim has filed a post-effective amendment, registration statement with the SEC for the
Guggenheim Canadian Energy Income ETF.
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