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CFTC.gov Commitments of Traders Reports Update

August 6, 2010--The CFTC.gov Commitments of Traders Reports for the week of August 3, 2010 are now available.

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Source: CFTC.gov


CFTC.gov Financial Data for Futures Commission Merchants Update

August 6, 2010--Selected FCM financial data as of June 30, 2010 (from reports filed by July 31, 2010) is now available.

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Source: CFTC.gov


Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index

August 6, 2010--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Friday, August 6, 2010:
•Nayarit Gold Inc. (TSXVN:NYG) will be removed from the index.

Pursuant to a business combination agreement, the shares of the company will be exchanged for shares of Capital Gold Corporation (TSX:CGC).

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


Old Mutual sheds US life unit

August 6, 2010--Old Mutual has sold its US life business to hedge fund Harbinger Capital for $350m (£219m) in a deal that will help the Anglo-South African financial services company pay down debt, as it jettisons businesses that hurt its financial position during the crisis.

The sale would cut Old Mutual’s capital position by about £100m, the company said, but will also reduce significantly its exposure to credit risk by shedding a business that was carrying mark-to-market losses of more than $2bn at the depths of the crisis.

“The sale will reduce our capital surplus by about £100m, but because our risks will be significantly reduced we will target a lower surplus,” said Julian Roberts, chief executive. “Our continuing business is almost entirely capital-light, unit-linked savings products."

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Source: FT.com


Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues Announces Agenda, List of Participants for August 11 Meeting

August 6, 2010-- The Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) today announced the agenda and participant list for the third meeting of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues on August 11, 2010.

The Joint Committee will continue its examination of the unusual market events of May 6, focusing on retail investor perspectives and the role exchange traded funds (ETFs) may have played.

The meeting at the CFTC headquarters building at 1155 21st Street NW, Washington DC, will be open to the public with seating on a first-come, first-served basis. The meeting also will be webcast on the CFTC’s website.

Joint CFTC-SEC Advisory Committee Meeting Agenda and Panelists

9:00 Introduction and Opening Statements from CFTC Chairman Gary Gensler and SEC Chairman Mary L. Schapiro

9:15 Panel Discussion: Investor Perspectives on May 6 with a Focus on ETFs

Panelists:

Michael Mendelson, Principal, AQR Capital Management

Noel Archard, Head of U.S. Products, Blackrock

Charles Rotblut, Vice President and Editor, American Association of Individual Investors

Chris Nagy, Managing Director, Order Routing Sales and Strategy, TD Ameritrade

Kevin Cronin, Director of Global Equity Trading at Invesco

Pamela J. Craig, Chief Financial Officer, Accenture

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Source: CFTC.gov


CBOE Holdings, Inc. Reports Second-Quarter 2010 Financial Results - Net Income Of $24.9 Million, Or $0.27 Per Diluted Share - Revenues Of $112.6 Million, Up 3 Percent - Average Daily Volume Of 5.3 Million Contracts, Up 13 Percent From Second-Quarter 2009

August 5, 2010--CBOE Holdings, Inc. (NASDAQ: CBOE), today reported operating revenues of $112.6 million and net income of $24.9 million, or $0.27 per diluted share, for the second quarter ended June 30, 2010. These results compare to operating revenues of $109.0 million and net income of $28.1 million, or $0.31 per diluted share, for the second quarter of 2009. Comparisons of current quarter financial results were impacted by the following items:

the recognition of $4.7 million in access fee revenue in the second quarter of 2009 that related to fees assessed and deferred in the first quarter of 2009,

second-quarter 2010 expense of $1.7 million related to the index options litigation,

a $0.4 million increase in severance expense in the second-quarter 2010 and

the recognition of $0.6 million for stock-based compensation for the second-quarter 2010.

For the six months ended June 30, 2010, the company reported total operating revenues of $213.7 million and net income of $47.6 million, or $0.52 per diluted share. For the comparable period last year, the company reported total operating revenues of $207.1 million and net income of $52.4 million, or $0.58 per diluted share.

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Source: CBOE


Opening Statement, Meeting of: The Agricultural Advisory Committee

Chairman Gary Gensler
August 5, 2010--Good morning. Thank you Commissioner Dunn for chairing today’s meeting of the Agricultural Advisory Committee and for your leadership. I also join Commissioner Dunn in thanking my fellow Commissioners and the expert panelists and staff that have joined us this morning.

I note the importance of the timing of today’s meeting. This is the first public meeting of the Commission since the President signed the historic Dodd-Frank Wall Street Reform and Consumer Protection Act. That legislation will, for the first time, bring comprehensive regulation to the over-the-counter derivatives marketplace. Specifically, the Dodd-Frank Act will subject all derivatives dealers to comprehensive oversight and require standardized derivatives to be traded on transparent trading platforms and be centrally cleared. This will greatly reduce risk in our economy and will benefit the American public.

As the CFTC works to implement the Dodd-Frank bill, the Agricultural Advisory Committee’s views and recommendations will be important. In addition to asking questions today about wheat convergence and ICE’s cotton contract, I am particularly interested in hearing the views of this committee regarding how rules should be written for agricultural swaps. Don Heitman from our staff will give an overview of how Dodd-Frank specifically impacts agricultural commodities, and I encourage panelists to share their thoughts.

I also am interested in hearing the views of this committee on the ICE Futures U.S. Cotton No. 2 contract. It is important that exchanges periodically review contract specifications and make sure that they are keeping up with changing markets. For example, it is important that exchanges review delivery points so that they best reflect the changing characteristics of the physical marketplace. I look forward to hearing the results of such a review by ICE and recommendations from our panelists.

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Source: CFTC,gov


Global Equity Index & ETF Research -- US Weekly ETP Market Review

August 5, 2010--New Listings and Delistings
There was one fund listed over the previous week. Global X Management Co LLC launched an ETF tracking the Brazilian financials sector. The product is listed in NYSE Arca.

Net Cashflows
Total ETP inflows in the US add up to $6.4 bn during the previous week. Equity and Fixed Income ETPs had inflows of $6.8 bn and $487 mm, respectively. Commodity and Currency ETPs, on the other hand, experienced outflows of $835 mm and $73 mm, respectively.

Within Equity ETPs, Large Cap ETPs received the largest inflows ($2.3 bn) followed by US Sector ETPs, while Leveraged ETPs saw the largest outflows ($326 mm).

The Fixed Income ETPs inflows were led by Corporates ETPs ($715 mm), while Overall ETPs experienced the largest outflows ($147 mm).

Commodity ETPs experienced outflows again, driven mainly by Gold ETPs ($707 mm).

Turnover
Avg. Daily Turnover decreased by 4.7% and totaled $68 bn at the end of the week.

Assets Under Management (AUM)
US ETPs AUM rose by 1.0% totaling $826 bn at the end of the week. Equity ETPs account for 73% of the assets with $603 bn, followed by Fixed Income funds with $141 bn and 17% of market share.

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Source: DB Global Equity Index & ETF Research


Exchange-Traded Funds: Strong ETF Net Cash Inflows of $32.1 Billion in the Second Quarter-Morgan Stanley

August 5, 2010--There were 47 new ETFs listed in the US during the second quarter of 2010. 20 additional ETFs have been listed since the end of Q2, bringing total issuance this year to 121. However, 23 ETFs have been closed, resulting in net new issuance of 98. As of July 30, 2010, there were 35 issuers with 934 ETFs listed in the US.

Inflows into US-listed ETFs were $32.1 billion during the second quarter of 2010. This represents a strong rebound from the first quarter in which ETF flows totaled just $7.7 billion. In addition, the $32.1 billion in net inflows is well above the average quarterly net cash inflows of $25.3 billion over the past six years.

The largest net cash inflows went into ETFs tracking fixed income and international indices. These asset classes had net cash inflows of $20.0 and $9.4 billion, respectively, in the first half of 2010. ETFs tracking gold also had strong net inflows of $8.2 billion over the same period, of which $7.7 billion was into the SPDR Gold Trust (GLD).

US ETF industry assets of $825 billion are still 9% higher than their level at the end of 2009. Despite the growth of the ETF market, it remains concentrated with three providers and 20ETFs accounting for roughly 79% and almost 50% of industry assets, respectively.

ETF net cash inflows rebounded in the second quarter to $32.1 billion, bringing industry net cash inflows to $39.8 billion in the first half of 2010. The $32.1 billion in net cash inflows was well above the average quarterly rate of $25.3 billion over the past six years. Although ETF assets have declined from their recent highs, as of July 30, 2010, ETF total assets were $825 billion, which is still well above the $757 billion at the end of 2009. So far in 2010, three providers have entered the market and 121 ETFs have been launched, bringing the total number of USlisted ETFs to 934.

There have been 118 US-listed ETFs terminated since the end of 2007. Although 121 ETFs have been launched in 2010, there have also been 23 liquidations, which leads to net new issuance of 98 ETFs this year. We note that the pace of liquidations has slowed from 2008 (44) and 2009 (51).

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Source: Morgan Stanley


Schwab Introduces Three Low-Cost Bond Exchange-Traded Funds (ETFs)

New Bond ETFs Have Low Operating Expenses and No Online Trading Commissions for Schwab Clients
August 5, 2010--Charles Schwab, a marketplace leader of ETFs, today announced the launch of three proprietary bond ETFs, adding to a suite of eight equity Schwab ETFs™. The Schwab Bond ETFs provide single-investment exposure to three types of U.S. Treasuries – short-term, intermediate-term and inflation-protected securities.

“Fixed Income ETFs are the fastest growing segment of the ETF market. We see tremendous potential for their continued growth.”

“There is growing demand from investors, traders and advisors for ETFs at a low cost,” said Peter Crawford, senior vice president at Schwab. “Fixed Income ETFs are the fastest growing segment of the ETF market. We see tremendous potential for their continued growth.”

Schwab ETFs offer investors an impressive value: they have low operating expense ratios (expenses) for exchange-traded funds and also offer commission-free online trading for clients through their Schwab accounts.

The three new Schwab ETFs are the Schwab U.S. TIPS ETF™ (SCHP), Schwab Short-Term U.S. Treasury ETF™ (SCHO) and Schwab Intermediate-Term U.S. Treasury ETF™ (SCHR).

Charles Schwab is an established leader in the ETF market with nearly twenty-five percent of total U.S. retail ETF assets as of year-end 2009, according to FUSE Research Network and Schwab. Schwab’s eight equity ETFs have $1.4 billion in assets under management as of July 30, 2010 and all eleven of Schwab’s ETFs offer among some of the lowest expenses in the industry.

Schwab Bond ETFs may be appropriate for investors who seek to add exposure to core fixed-income holdings in a diversified portfolio and can be purchased in increments as small as one share per trade. Schwab ETFs are immediately marginable by Schwab clients. Schwab ETFs are listed on NYSE Arca, and can also be traded on other exchanges.

Beyond Schwab’s comprehensive ETF lineup, the firm continues to build out the resources and tools in the proprietary ETF Center to help clients learn about the role of ETFs can serve in a portfolio and choose ETFs that may best serve their investment needs.

Commission-free online trading of Schwab ETFs is available to individual investors at Schwab, to the more than 6,000 independent investment advisor firms who use Schwab’s custodial services through Schwab Advisor Services and through Schwab retirement accounts that permit trading of ETFs.

Source: Charles Schwab Investment Management


SEC Filings


July 11, 2025 RMB Investors Trust files with the SEC
July 11, 2025 Mutual Fund Series Trust files with the SEC
July 11, 2025 Simplify Exchange Traded Funds files with the SEC-Simplify Government Money Market ETF
July 11, 2025 Tortoise Capital Series Trust files with the SEC-Tortoise Global Water Fund
July 11, 2025 EA Series Trust files with the SEC-Towle Value ETF

view SEC filings for the Past 7 Days


Europe ETF News


July 02, 2025 Valour Launches Eight New ETPs on Spotlight Stock Market, Including Bitcoin Cash (BCH), Unus Sed Leo (LEO), OKB (OKB), Polygon (POL), Algorand (ALGO), Filecoin (FIL), Arbitrum (ARB), and Stacks (STX)
June 16, 2025 ESMA's activities in 2024 focused on strengthening the EU capital markets and putting citizens and businesses at the heart of it

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Asia ETF News


July 02, 2025 Fujitsu to develop ETF trading platform based on TSE's CONNEQTOR and provide it to Australian Securities Exchange
June 25, 2025 QFIIs Gain Access to Onshore ETF Options As A-share Market Opening Deepens
June 18, 2025 Mirae Asset Global Investments Launches MIRAE ASSET TIGER CHINA GLOBAL LEADERS TOP3 PLUS ETF, Tracking Solactive-KEDI China Global Leaders TOP3Plus Index

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Global ETP News


July 07, 2025 WTO issues new edition of World Tariff Profiles
July 03, 2025 Flow Traders-Tokenization in Capital Markets: A Market Maker's Perspective

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Middle East ETP News


June 19, 2025 GCC: Growth on the Rise, but Smart Spending Will Shape a Thriving Future
June 16, 2025 Saudi Exchange leads market losses across the GCC

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Africa ETF News


July 04, 2025 South Africa: African Development Bank Country Focus Report highlights urgent need for economic transformation as GDP growth remains subdued
July 01, 2025 Africa's Trade Projected to Hit $1.5 Trillion in 2025
June 26, 2025 National stock exchange launched in Somalia
June 24, 2025 East Africa's regional 20 share index
June 16, 2025 African Credit Rating Agency to Launch September 2025

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ESG and Of Interest News


June 30, 2025 OECD-Environment at a Glance Indicators
June 18, 2025 Global Energy Transition Gains Ground, but Security and Capital Challenges Persist
June 17, 2025 Pacific Economic Update: Slowing Growth Highlights Need for More Inclusive Workforce
June 10, 2025 Global Carbon Pricing Mobilizes Over $100 Billion for Public Budgets
June 07, 2025 Accelerating Blue Finance: Instruments, Case Studies, and Pathways to Scale

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White Papers


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