Americas ETP News
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CFTC Designates Green Exchange, LLC as a Contract Market
July 23, 2010-- The Commodity Futures Trading Commission (CFTC) yesterday approved the application of Green Exchange, LLC (“GreenEx”) for designation as a contract market. GreenEx is organized as a Delaware Limited Liability company and is a wholly-owned subsidiary of Green Exchange Holdings, LLC (“GreenEx Holdings”). Chicago Mercantile Exchange, Inc. (“CME”) is the largest equity owner of GreenEx Holdings.
Other equity owners include Evolution Markets, Inc., Morgan Stanley Capital Group, Inc., Credit Suisse First Goldman, Sachs, & Co., as well as other brokers, dealers and commercial users.
GreenEx will list for trading a broad variety of contracts for environmental risk management that are currently traded on the New York Mercantile Exchange (“NYMEX”).
GreenEx will use CME’s Globex electronic trade-matching system. Clearing services for GreenEx will be provided by CME Clearing House. Regulatory services for GreenEx will also be provided by CME.
Source: CFTC.gov
Global X Funds To Unveil World's First Lithium ETF
July 22, 2010--Global X Funds said Thursday it will unveil on Friday the world's first lithium exchange-traded fund in shares of the largest and most liquid lithium battery producing and mining and refining companies
"The Global X Lithium ETF is an efficient way to invest in what we refer to as a "green" commodity because of its direct correlation to the renewable energy market such as electric cars and energy storage," said Bruno del Ama, CEO of Global X Funds in a press release.
Lithium is expected to be in increasing demand as carmakers look to costly but more efficient lithium-ion batteries to power hybrid and electric vehicles.
read more
Source: World Environment News
ETFS Securities files with the SEC
July 22, 2010-ETF Securities, has filed a FORM S-1 for
ETFS Asian Gold Trust.
view filing
Source: SEC.gov
Wisdom Tree files with the SEC
July 22, 2010--Wisdom Tree has filed a post-effective amendment, registration statement with the SEC for
WisdomTree Managed Futures Strategy Fund
Total Annual Fund Operating Expenses: 0.95 %
view filing
Source: SEC.gov
Claymore files with the SEC
July 22, 2010--Claymore has filed a post-effective amendment, registration statement with the SEc for
Claymore/Beacon Global Exchanges,
Brokers & Asset Managers Index ETF-Ticker Symbol: EXB
Claymore/Robb Report Global Luxury Index ETF-Ticker Symbol: ROB
Claymore/Zacks Country Rotation ETF-Ticker Symbol: CRO
view filing
Source: SEC.gov
Claymore files with the SEC
July 22, 2010--Claymore has filed a post-effective amendment, registration statement with the SEC for
Claymore U.S. Capital Markets Bond ETF-Ticker Symbol: UBD
Claymore U.S. Capital Markets Micro-Term Fixed Income ETF-Ticker Symbol: ULQ
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Source: SEC.gov
ALPS files with the SEC
July 22, 2010--Alps has filed a post-effective amendment, registration statement with the SEC for
RiverFront Strategic Income Fund
Total annual Fund operating expenses after fee waiver
:0.24
view filing
Source: SEC.gov
SEC gives asset-backed deals 6 months' grace
July 22, 2010--Regulators on Thursday said companies selling securities backed by loans would have six months of breathing room to comply with new regulations that could have made selling such deals difficult.
The move by the Securities and Exchange Commission follows the refusal of credit rating agencies to allow ratings on new securities backed by auto loans and other consumer credits to be used in documents needed to sell bonds in the public markets.
read more
Source: FT.com
CFTC Begins Publishing New Large-Trader Report for Financial Futures Markets
July 22, 2010--The U.S. Commodity Futures Trading Commission (CFTC) today announced that it will begin publishing a new report that adds further transparency to the financial futures markets. The report, entitled Traders in Financial Futures (TFF), builds on improvements to transparency implemented last year that disaggregated data in the CFTC’s weekly Commitments of Traders (COT) Reports.
“Promoting transparency is at the core of the CFTC’s mission,” CFTC Chairman Gary Gensler said. “The new Traders in Financial Futures reports will provide the public with a better view into the financial futures marketplace. This transparency effort builds upon prior improvements we made to the COT reports and will provide the market with much helpful information. I thank the CFTC staff for their hard work to prepare these new reports.”
For decades, the CFTC has provided the futures industry with COT reports consisting of aggregated large-trader position data to shed light on the changing composition of the markets. The reports are based on a request by Congress for an annual report, upon passage of original enabling legislation in the 1920’s, and have been intensified over time into weekly reports in several formats.
The new TFF report uses the same data that appears in the COT reports, but separates large traders in the financial futures markets into the following four categories: Dealer/Intermediary; Asset Manager/Institutional; Leveraged Funds; and Other Reportables. The “dealer/intermediary” category comprises the sell-side participants that earn commissions selling financial products, capturing bid/offer spreads and otherwise accommodating clients. The remaining three categories represent buy-side participants. These are generally clients of the sell-side participants who use the markets to invest, hedge, manage risk, speculate or change the term structure or duration of their assets.
Like the COT reports, the TFF report provides a breakdown of each Tuesday's open interest for markets in which 20 or more traders hold positions equal to or above the reporting levels established by the CFTC. The report is published in futures-only and futures-and-options-combined formats. The TFF report will be published concurrently with the legacy COT. The TFF report, however, is not a disaggregation of the COT data for the financial markets. The traders classified into one of the four categories in the TFF report may be drawn from either the “commercial” or “noncommercial” categories of traders in the legacy COT reports. The CFTC also plans to soon release four years of historical data for the new report.
Source: CFTC.gov
Global Equity Index & ETF Research -- US Weekly ETP Market Review
July 21, 2010--New Listings and Delistings
There were 13 new listings in the previous week, all of them listed on NYSE Arca. Direxionshares launched two sets of leverage ETFs offering Long and Short exposure to the Retail and Natural Gas sectors. While BlackRock launched a range of ETFs offering exposure to 9 Global ex-US sectors.
Net Cashflows
Total ETP inflows in the US add up to $1.0 bn during the previous week. Fixed Income had inflows of $1.6 bn. Equity, Commodity and Currency ETPs, on the other hand, experienced outflows of $587 mm, $3 mm and $17 mm, respectively
Within Equity ETPs, Emerging Markets Regional ETPs received the largest inflows ($0.8 bn) followed by Leveraged Short ETPs, while Small Cap ETPs saw the largest outflows ($1.0 bn).
The Fixed Income ETPs space saw strong inflows again this week, with Corporates ETPs ($734 mm) and Sovereign ETPs ($400 mm) leading the positive flows.
Commodity ETPs were almost neutral and no major trend was observed.
Turnover
After a couple of months of high turnover, Avg. Daily Turnover has dropped to pre-May levels. Turnover for this week was $71 bn, dropping 3.4% from the previous week.
Assets Under Management (AUM)
US ETPs AUM remained at around the same level totaling $792 bn at the end of the week. Equity ETPs account for 72% of the assets with $570 bn, followed by Fixed Income funds with $138 bn and 17% of market share..
To request a copy of the report
Source: Deutsche Bank Global Equity Index & ETF Research
