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Horizons ETFs Announces Unit Consolidations
March 30, 2012--Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate Horizons ETFs Management ( Canada ) Inc., the manager and trustee of the Horizons BetaPro NYMEX Natural Gas Bull Plus ETF, Horizons BetaPro NYMEX® Long Natural Gas/Short Crude Oil Spread ETF and the Horizons Winter-Term NYMEX
Natural Gas ETF (together, the "ETFs"), has announced today that it intends to consolidate the units of the ETFs, as indicated below:
Unit Consolidations
After the Toronto Stock Exchange (the "TSX") has closed for trading on Thursday, April 12, 2012 , the units of the ETFs will be consolidated on the basis of the ratios (the "Consolidation Ratios") set out below, and will begin trading on a consolidated basis on Friday, April 13, 2012 , the effective date of the consolidations:
Schwab considers warnings on controversial exchange-traded products
March 30, 2012--Discount brokerage Charles Schwab Corp is reviewing whether to add a warning when a customer is about to trade certain exchange-traded products, in one of the strongest warnings yet for retail investors about these esoteric securities.
The move follows the sudden plunge in an exchange-traded note called VelocityShares Daily 2X VIX Short-Term ETN, or TVIX, which lost 60 percent of its value last week.
Exchange Traded Concepts files with the SEC
March 30, 2012--Exchange Traded Concepts, LLC has filed a first and restated application for exemptive relief with the SEC.
view filing
Passive approach begins to gain currency
March 30, 2012--The use of exchange-traded funds (ETFs) has grown significantly as investors continue to seek cheaper ways of gaining exposure to certain asset classes over more expensive actively managed strategies.
While ETFs have proved popular vehicles to gain passive exposure to equities, bonds and commodities, currency is something of a late comer to the party and it is only recently that exchange traded products (ETPs) offering exposure to the asset class have started to gain ground.
Auspice eBeta Enhanced Indices Licensed for New Funds
MArch 29, 2012--Auspice Capital Advisors Ltd. (Auspice), a leading alternative investment manager has recently entered into partnerships with two leading North American fund providers, which have both licensed the Auspice eBetaTM Enhanced Indices to use in new mandates.
Auspice has entered into a partnership with Direxion Funds of New York to license the Auspice Broad Commodity ER Index and Auspice Managed Futures ER Index for distribution to U.S. investors in a mutual fund format. The two U.S. based mutual funds will seek to replicate the performance of the Auspice Broad Commodity ER Index and Auspice Managed Futures ER Index. The mutual funds both launched February 1st with the following tickers: DXCTX:US and DXMAX:US.
Chaos Over a Plunging Note
March 29, 2012--Regulators are examining volatile trading in a complex exchange-traded note that caused it to lose 60% of its value in the past week.
The Securities and Exchange Commission is looking into the VelocityShares 2x Long VIX Short Term Exchange note, managed by Credit Suisse Group AG, which had about $700 million in assets before the decline, according to people familiar with the matter. The SEC review is preliminary, the people said.
Bernanke: Economy to return to trend growth
March 29, 2012--Federal Reserve Chairman Ben Bernanke said on Thursday that he expects the U.S. economy to return to a long-term growth rate around three percent over time.
Speaking to students at George Washington University, he said U.S. growth was below its long-term trend now, still in a relatively weak recovery following the 2007-2009 financial crisis.
"Day Tripper"-Opening Statement of Commissioner Bart Chilton to the CFTC Technology Advisory Committee,
March 29, 2012--Thanks to Commissioner O'Malia for his leadership of the Technology Advisory Committee (TAC). He and his staff have done a marvelous job and they are to be commended.
There are over 160 million financial transactions taking place around the world every day. Just think about these markets of enormous size and girth. Journeymen traders, cheetah high frequency traders and others are churning away, burning up the fiber—many trying to scoop up micro dollars in milliseconds as they arbitrage between one market and another, between one or more exchanges in one nation to multiple exchanges around the world. It is a complex matrix that boggles the mind. It is amazing that it works as well as it does, but then again, there are noticeable trips and falls all the time.
I hear from a lot of people in the financial sector how the cheetahs, the HFTs, are nothing more than a variation of the old day trader. The argument is that like day traders, the cheetahs are simply trading based upon very intricate information and making trading decisions in as fast a manner as possible. Similarly, the day traders and the cheetahs desire to be flat at the end of the day, with no outstanding exposure.
SEC examines plunge in volatility product
March 29, 2012--The Securities and Exchange Commission is conducting a preliminary review into the volatile trading in an exchange-traded note (ETN) that had lost about 60 percent of its value over the past week, the Wall Street Journal said, citing people familiar with the matter.
The VelocityShares Daily 2x VIX Short-Term exchange-traded note, managed by Credit Suisse, tracks the volatility in the stock market. On an average, the TVIX moves about up and down in percentage terms as the VIX does.
BlackRock to Start Junk Bond ETF Amid Record Inflows
March 29, 2012--BlackRock Inc. (BLK), the world's biggest money manager, is planning a global junk-bond exchange-traded fund after its first high-yield debt ETF grew to include $14.3 billion of assets in four years.
The IShares Global ex-USD High-Yield Corporate Bond Fund will track an index composed of speculative-grade bonds denominated in euros, pounds and Canadian dollars, according to a prospectus filed today with the Securities and Exchange Commission. The fund aims to invest at least 40 percent of its assets in companies located or doing business outside the U.S., the document said.
Guggenheim Investments Announces Final Liquidation Amount Per Share for the Liquidation of Guggenheim MSCI All Country World (ACWI) Equal Weight ETF
March 29, 2012--Guggenheim Investments announced today the final liquidation amount per share for the Guggenheim MSCI All Country World (ACWI) Equal Weight ETF (nysearca:EWAC).
The per-share liquidating amount will be $37.2855 per share with a payable date of 3/30/2012 for any shareholders.
Past performance is not indicative of future performance.
NSE To Launch Corporate Debt ETF
March 29, 2012--The National Stock Exchange plans to introduce a 'Corporate Debt Exchange Traded Fund' or ETF in this calendar year, reports said.
ETFs are essentially index funds that are listed and traded on exchanges. In this sense, an ETF is a basket of stocks or assets such as gold or even money market instruments. Its trading value is based on the net asset value of the underlying assets that it represents.
The new product is in line with the Government's emphasis on expanding and deepening the corporate debt market. It will help investors put money in a basket of corporate bonds, thereby getting the benefit of a portfolio for investment, source said.
ProShares Launches TTT: New Inverse Treasury ETF
Joins Popular TBT and TBF to Help Hedge Against Potential Declines in Long-term Treasurys
March 29, 2012--ProShares, the nation's fourth most successful exchange traded fund (ETF) company,1 announced today the launch of ProShares UltraPro Short 20+ Year Treasury. The ETF lists on NYSE Arca today.
TTT seeks to provide -3x the daily performance of the Barclays Capital 20+ Year U.S. Treasury Bond Index, before fees and expenses. TTT is the third ProShares ETF providing inverse exposure to long-term Treasurys. In addition to TTT, ProShares offers the popular -2x and -1x long-term Treasury ETFs, ProShares UltraShort 20+ Year Treasury and ProShares Short 20+ Year Treasury.
Massachusetts Scrutinizes Exchange-Traded Note .
March 29, 2012--Massachusetts's securities regulator said it is looking into an exchange-traded note managed by Credit Suisse Group AG CSGN.VX -0.08%that has lost 60% of its value in the past week.
The Massachusetts inquiry comes as the Securities and Exchange Commission also is looking into the product. The SEC review is preliminary, according to people familiar with the matter. Meanwhile, the Financial Industry Regulatory Authority also has been monitoring the situation. "We have been closely looking at the events and trading around [the exchange-traded note], but cannot comment beyond that," a Finra spokesman said.
EGA Emerging Global Shares files with the SEC
March 29, 2012--EGA Emerging Global Shares has filed a post-effective amendment, registration statement with the SEC for the EGShares Beyond BRICs ETF
EGShares Emerging Markets Domestic Demand ETF.
view filing
