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ICE ETF Hub Report-2020 in Review
January 27, 2021--2020 was a year like no other. The pandemic stressed financial markets and heightened volatility. During this time, ICE ETF Hub adoption increased. Market participants needed efficiencies to meet market demands and the Hub delivered by automating the ETF creation and redemption process, and streamlining workflows. The Hub was tested by extraordinary volatility and proved to be reliable and resilient.
We launched several key enhancements including Financial Information eXchange (FIX) access to issuers, market makers and authorized participants; custom basket negotiation technology; and multi-order functionality and connectivity between the ETF Hub and ICE FI Select. We launched a pilot program, welcoming many more authorized participants and market makers to the Hub.
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Source: nyse.com
KraneShares Launches First China STAR Market ETF (Ticker: KSTR) in the United States
January 27, 2021--Krane Funds Advisors, LLC, ("KraneShares"), a global asset management firm known for its China-focused exchange-traded funds (ETFs) and innovative China investment strategies, today announced the launch of the KraneShares SSE STAR Market 50 Index ETF (Ticker: KSTR) on the New York Stock Exchange (NYSE).
KSTR tracks the Shanghai Stock Exchange (SSE) Science and Technology Innovation Board 50 Index. The Index comprises the 50 largest securities listed on SSE Science and Technology Innovation Board (STAR Market) as determined by market capitalization and liquidity.
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Source: Krane Funds Advisors, LLC
SPAC Boom Heats Up as Latest Blank-Check ETF Hits the Market
January 26, 2021--Morgan Creek, Exos team up on actively managed fund SPXZ
It joins two SPAC ETFs currently trading from Defiance, Tuttle
There's a new exchange-traded fund tracking the hot trend of blank-check companies.
The actively managed Morgan Creek-Exos SPAC Originated ETF (SPXZ) started trading Tuesday and charges a 1% expense ratio, according to a statement from Morgan Creek Capital Management and New York-based EXOS Financial.
Special-purpose acquisition companies have exploded in popularity as a way for purchasers to avoid the costly and time-consuming initial public offering process. They basically sell shares of a business that has no operations, promising to use the money within two years to buy a private one.
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Source: bloomberg.com
Reddit traders wage battle against Wall Street
January 26, 2021--An army of amateur traders has launched a siege on Wall Street that has shaken up markets and left seasoned hedge funds reeling.
GameStop, a games retailer whose shares have been sent flying by gangs of traders co-ordinating moves on Reddit, sits at ground zero of a battle that has shown these have-a-go investors are no longer just a sideshow.
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Source: news.fintech.io
Short Sellers Crushed Like Never Before as Retail Army Charges
January 26, 2021--Goldman index of most-shorted names is set for best-ever month
Day traders bid up most-hated names and mesmerize Wall Street
Short traders in the American stock market are taking a historic pounding as the retail crowd charges into the most-hated names on Wall Street.
The 50 most-shorted companies on the Russell 3000 Index have now surged 33% so far this year, with the Goldman Sachs Group Inc. basket set for its best month since at least 2008.
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Source: bloomberg.com
Thematic ETFs can deliver significant losses, academics find
January 25, 2021--Research shows average returns underperform the market by about 4 percentage points a year
Interest in thematic exchange traded funds has accelerated in recent years, but research shows buyers should beware.
Academics have found that thematic ETFs, which serve specialist investment interests such as biotechnology, renewable energy or gender equality, on average underperform the stock market on a risk-adjusted basis by about 4 percentage points a year for at least five years following their launch.The academics analysed ETFs traded in the US between 1993 and 2019.
A href="https://www.ft.com/content/7e16172e-ce51-4c41-a139-3a796790bbbe" TARGET="_blank">view more
Source FT.com
Cboe To Introduce New Choice Program For ETP Lead Market Makers, Beginning February 1
January 25, 2021-- Designed to help further enhance market quality for Cboe Listed ETPs
Aims to provide lead market makers with greater choice and flexibility in selecting an incentive model
New program is developed in close consultation with ETP industry participants
Builds upon success of Cboe's previous LMM incentive offerings
Cboe Global Markets, Inc. (Cboe: CBOE), a market operator and global trading solutions provider, today announced plans to introduce a new incentive program that aims to help further enhance market quality for primarily listed exchange-traded products (ETPs) on Cboe BZX Exchange, beginning Monday, February 1, subject to regulatory review.
Previously, Cboe had offered the market's first-of-its-kind incentive program that awarded lead market makers (LMMs) a flat daily fee, rather than payment based on assigned ETPs' transaction volume, to help incentivize LMMs to provide liquidity in newly launched or thinly traded ETPs.
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Source: Cboe Global Markets, Inc.
U.S. Senate votes overwhelmingly to confirm Yellen as first female Treasury chief
January 25, 2021--Janet Yellen won overwhelming Senate confirmation as the first woman to lead the U.S. Treasury on Monday, setting her quickly to work with Congress on coronavirus relief, reviewing U.S. sanctions policy and strengthening financial regulation.
The Senate voted 84-15 to confirm Yellen, with all opposition coming from Republicans, several of whom have expressed concerns about President Joe Biden's proposed $1.9 trillion coronavirus aid plan, tax hikes and other spending initiatives.
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Source: reuters.com
BlackRock Gives 2 Funds Go-Ahead to Invest in Bitcoin Futures
January 20, 2021--The world's largest asset manager appears to be getting into the bitcoin game.
BlackRock, the world's largest asset manager with $7.81 trillion under management, appears to have granted at least two of its funds the ability to invest in bitcoin futures.
Prospectus documents filed with the U.S. Securities and Exchange Commission Wednesday indicate that BlackRock Global Allocation Fund Inc. and BlackRock Funds V are at least eyeing bitcoin. They both include the world's oldest cryptocurrency on their lists of derivative products cleared for use.
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Source: coindesk.com
Yellen Gets Wall Street Buzzing About 50-Year U.S. Treasuries
January 19, 2021--Biden's pick for Treasury secretary was non-committal on topic
Traders sold 30-year bonds in response, steepening yield curve
All it took was a non-committal comment from Janet Yellen to persuade Treasury traders there’s a chance the U.S. will finally expand maturities in the world's biggest bond market beyond 30 years.
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Source: bloomberg.com
