Americas ETP News
If your looking for specific news, using the search function will narrow down the results
Claymore Launches Broadly Diversified China ETF
August 5, 2010--The Claymore China ETF seeks investment results that correspond generally to the total return (before fees and expenses) of the AlphaShares China All-Cap Index, which is a broadly diversified Chinese equity index invested in publicly-traded companies based in mainland China. Unlike other major China equity indices, the AlphaShares China All-Cap Index is diversified across all sectors and market capitalization of the Chinese economy and is less concentrated with a maximum weight of 35% to any sector and 5% to any stock.
“China continues to be one of the most important economies and markets in the world today and we believe investing in China has become an integral part of a well diversified portfolio. It is expected that China will continue to outpace many developed and emerging market countries in terms of growth, yet investors continue to be underweight China in their portfolios.” said Som Seif, President & CEO of Claymore Investments, Inc. “We are pleased to be working with Dr. Burton Malkiel and AlphaShares LLC. to offer investors this intelligent, low cost, and efficient way gain broad exposure to the China market.”
Chief Investment Officer of AlphaShares and world renowned Princeton University economist, Dr. Burton G. Malkiel also noted, “China is the leading driver of global GDP growth today and has recently surpassed Japan to become the second largest economy in the world. However, Canadian investors have less than 2% of their portfolio invested in China. Claymore’s CHI is a valuable addition to the growing suite of products designed to provide investors with this much needed exposure.”
Source: Claymore Investments, Inc.
NSX Releases July 2010 ETF/ETN Data Report; Assets Exceed $800 Billion
August 4, 2010--National Stock Exchange, Inc. (NSX®) announced that assets in U.S. listed Exchange-Traded Funds (ETF) and Exchange-Traded Notes (ETN) totaled approximately $835.2 billion at July 2010 month-end, an increase of approximately 29% over July 2009 month-end when assets totaled $650 billion. At the end of July 2010, the number of listed products reached 1031, with 22 new ETFs/ETNs listed for trading during the month.
July 2010 net cash inflows from all ETFs/ETNs totaled approximately $9.5 billion, with year-to-date net cash inflows totaling $49.5 billion. Total Fixed Income and Total Global/Int’l Equities led all categories with net cash inflows of $4.59 billion and $4.51 billion respectively for the month. Total Commodities led all categories with net cash outflows of $1.77 billion for the month of July.
This data is included in the full NSX July 2010 Month-End ETF/ETN Data Report released by the Exchange, which has become a key industry source for ETF/ETN data. These Data Reports are published following the end of each calendar month.
To view the full reports go to: http://www.nsx.com/content/market-data. NSX also publishes a product-by-product breakdown of the 1031 products on which the data is based. The complete list can be accessed at: http://www.nsx.com/content/etf-product-list.
Source: National Stock Exchange, Inc. (NSX®)
BM&FBOVESPA sets new trading record for ETFs
The number of ETF trades hits new historic high of 2,247
August 4, 2010-- BM&FBOVESPA hit a new historic high today with a total of 2,247 ETF trades. In just one day the BOVA11 registered 2,134 trades (199,650 shares at the average price of BRL67.62), reaching BRL13.5 million in total financial volume. All of the other ETFs together registered a total of 113 trades. The previous record was set on February 22 of this year when a total of 1,714 ETF trades were registered, at that time 1,608 were from the BOVA11 and 97 were from all other ETFs. It should also be noted that on August 2nd the minimum lot for ETF trades was reduced from 100 units to 10 units.
ETFs
ETFs (Exchange Traded Funds) are funds which mirror indexes and which can be traded on the Exchange, allowing investors to hold all the component shares of the index without having to buy them every day. The following ETFs are currently traded at BM&FBOVESPA: BOVA11 (iShares Ibovespa Fund index); SMAL11 (iShares BM&FBOVESPA Small Cap Index Fund); MILA11 (iShares BM&FBOVESPA MidLarge Cap Index Fund); PIBB11 (PIBB Brazil Index Fund - 50 - Brazil Tracker); BRAX11 (iShares Brazil Index IBrX-100 Index Fund); CSMO11 (iShares BM&FBOVESPA Consumption Index Fund); and the MOBI11 (iShares Index BM&FBOVESPA Real Estate Index Fund).
Source:BM&FBOVESPA
BM&FBOVESPA announces the winning institution of the bidding process for the management of the Financial ETF
New ETF will be based on the BM&FBOVESPA Financial Index (IFNC)
August 4, 2010--BM&FBOVESPA has announced that Itaú Unibanco S.A. won the bidding process for the selection of a securities portfolio manager for the ETF based on the BM&FBOVESPA Financial Index (IFNC). Itaú Unibanco S.A. obtained a 3-year exclusive license for the use of the IFCN and the creation of its ETF (ETF IFCN). Four institutions submitted their proposals, and BM&FBOVESPA carried out the official opening of those proposals today. The one submitted by Itaú Unibanco S.A. contained the commitment to the highest financial volume.
The Licensing Contract for the use of the BM&FBOVESPA IFNC will be executed within the next 15 days. Itaú Unibanco S.A. will have 30 calendar days to initiate trading of the new ETF at the Exchange, after CVM and BM&FBOVESPA have duly granted their authorizations. The objective of the IFCN is to track the performance of shares issued by the most representative companies in the following sectors: financial intermediaries, diversified financial services, and insurance (life and multi-line sectors).
read more
Source: BM&FBOVESPA
Remarks As Prepared for Delivery by Assistant Secretary Barr
at the Charlotte, North Carolina Chamber of Commerce
August 4, 2010--Members of the Charlotte Chamber of Commerce, thank you for inviting me to join you today. President Obama has just signed into law a set of reforms to our financial system that will lay a foundation for growth and prosperity in the years ahead. I want to follow Secretary Geithner's speech in New York City on Monday with some further reflections on reform.
Let us take a step back and remember why these reforms were so important to enact. President Obama inherited an economic and financial crisis more severe than any President since Franklin Roosevelt. The President responded forcefully with a historic job creation package, with a multi-prong effort to stabilize our financial and housing sectors, and with reforms to make the financial system more stable, more resilient, and safer for consumers and investors.
The need to reform our financial system is nowhere more clearly illustrated than the great recession from which we are just beginning to emerge. The cost of the old financial order can be measured in the trillions of dollars of savings lost, in Americans who can't find work, and in small businesses that still struggle to find funding.
Forces Leading to the Crisis
There were many causes of the crisis, but I want to begin today by talking about the role that innovative financial products seemed to play and the importance nonetheless of fostering innovation as we implement financial reform.
Those markets with the most innovation and the fastest growth seemed to be at the center of the current crisis. There is no doubt that taking the long historical view, at many turns we have seen a pattern of tremendous growth that has been supported by financial innovation.
read more
Source: US Department of the Treasury
August 2010 Quarterly Refunding Statement
August 4, 2010-- The U.S. Department of the Treasury is offering $74 billion of Treasury securities to refund approximately $33.0 billion of privately held securities maturing on August 15, 2010. This will raise approximately $41 billion. The securities are:
A 3-year note in the amount of $34 billion, maturing August 15, 2013;
A 10-year note in the amount of $24 billion, maturing August 15, 2020; and
A 30-year bond in the amount of $16 billion, maturing August 15, 2040.
The 3-year note will be auctioned on a yield basis at 1:00 p.m. EDT on Tuesday, August 10, 2010. The 10-year note will be auctioned on a yield basis at 1:00 p.m. EDT on Wednesday, August 11, 2010, and the 30-year bond will be auctioned on a yield basis at 1:00 p.m. EDT on Thursday, August 12, 2010. All of these auctions will settle on Monday, August 16, 2010.
The balance of Treasury financing requirements will be met with 4-, 13-, 26- and 52-week bills; monthly 2-year, 3-year, 5-year, and 7-year notes; the August 30-year TIPS reopening, the September 10-year TIPS reopening, and the October 5-year TIPS reopening.
Treasury may also issue cash management bills during the quarter.
read more
Source: U.S. Department of the Treasury
BlackRock Seeks Clearance for Index ETFs That Can Sell Short
Augsut 4, 2010-- BlackRock Inc. is seeking regulatory clearance to create exchange-traded funds that can bet against stocks or bonds, as the $826 billion industry’s largest player seeks new products to boost revenue.
The company applied today with the U.S. Securities and Exchange Commission for the right to engage in short sales when running ETFs that track market indexes. Until now, the New York- based company’s ETFs have been based on indexes that buy stocks rather than selling them short, a strategy that generates profits when the underlying asset declines in value.
read more
Source: Bloomberg Business Week
Vanguard files for exemptive relief
August 4, 2010--Vanguard has filed an amended application for exemptive relief with the SEC. This Application seeks relief for Vanguard Inflation Protected Securities Fund (the “Initial Fund”), a series of Bond Index
Trust,
and for any series of open-end management investment companies registered under the Act,
view filling
Source:: SEC.gov
iShares files with the SEC
August 4, 2010--iShares has filed for exemptive relief with the SEC.
Operation of the New Funds
The investment objective of each New Fund (or any existing Fund that relies on the relief requested herein) will be to seek investment results that correspond generally to the price and yield performance, before fees and expenses, of an Underlying Index that is a Long-Short Index.
read more
Source: SEC.gov
First Trust files with the SEC
August 3, 2010--First Trust has filed a post effective amendment, registration statement with the SEC for
First Trust NASDAQ CEA Smartphone Index Fund
read more
Source: SEC.gov
