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CFTC.gov Commitments of Traders Reports Update
July 27, 2018--The current reports for the week of July 27, 2018 are now available.
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Source: CFTC.gov
Winklevoss twins bitcoin ETF rejected by SEC
July 26, 2018--The Securities and Exchange Commission rejected a second attempt by Cameron and Tyler Winklevoss, founders of crypto exchange Gemini, to list the first-ever cryptocurrency ETF on a regulated exchange.
The U.S. financial watchdog has yet to approve a cryptocurrency-based ETF and in the release Thursday highlights issues with security, market manipulation and investor protection issues.
Bitcoin fell below $7,900 following the news after hitting a two-month high this week, which was partially fueled by rumors that the SEC could approve a similar trading vehicle as early as August.
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Source: cnbc.com
ETFGI reports that ETFs and ETPs listed in Canada experienced net outflows of US$328 million during June 2018
July 26, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in Canada experienced net outflows of US$328 million during June 2018.
This marks the first month of negative flows since September 2017, coinciding with the net outflows that occurred this month for ETFs and ETPs listed in the US. (All dollar values in USD unless otherwise noted.)
Highlights
ETFs and ETPs listed in Canada experienced net outflows of $328 Mn during June 2018, marking the first month of negative flows since September 2017.
Active products gathered the largest net inflows during June, while equity ETFs/ETPs saw the largest net outflows.
ETF/ETP assets have decreased by 1.35% during June to $120 Bn.
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Source: ETFGI
NYSE Completes Historic First Half of 2018
July 26, 2018--Holds #1 spot among global exchanges for capital raising and ETFs;
Expands trading to include all U.S. securities;
Successfully executes launch of the first direct listing.
The New York Stock Exchange (NYSE), a wholly owned subsidiary of Intercontinental Exchange (NYSE:ICE), extended its leadership as the premier venue for global capital raising, and the exchange of choice for issuers. The NYSE marked a number of milestones in the first half of 2018, positioning itself for continued growth, including:
Ranked the #1 global exchange, raising $19.3 billion in proceeds from U.S. initial public offerings (IPOs) and $7.5 billion in assets under management (AUM) from U.S. exchange traded funds (ETFs).
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Source: Intercontinental Exchange
First Trust to Launch First Trust Lunt U.S. Factor Rotation ETF
July 26, 2018--An index-tracking ETF that focuses on U.S. large-cap equities using a multi factor rotation discipline.
First Trust Advisors L.P. ("First Trust"), a leading exchange-traded fund ("ETF") provider and asset manager, announced today that it has launched a new ETF, the First Trust Lunt U.S. Factor Rotation ETF (Cboe BZX: FCTR) (the "fund").
The fund seeks investment results that correspond generally to the price and yield (before the fund’s fees and expenses) of an equity index called the Lunt Capital Large Cap Factor Rotation Index (the "index"). The index is designed to provide exposure to U.S. large cap equities, rotating among select factors when they come into favor using the propriety risk-adjusted relative strength methodology from Lunt Capital Management, Inc. ("Lunt Capital"). The index rotates among eight sub-indices, each of which exhibits the characteristics of the high and low side of four factors.
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Source: First Trust
U.S. Weekly FundFlows Insight Report: Despite Strong Earnings Reports During the Week, Fund Investors Remain Guarded in the Face of Trade-War Concerns
July 26, 2018--For the second consecutive week investors were net purchasers of overall fund assets (including those of conventional funds and ETFs), injecting, however, only a little more than $13 million for Thomson Reuters Lipper's fund-flows week ended July 25, 2018.
But, despite strong corporate earnings and economic news reported during the week, fund investors were net redeemers of equity funds (-$620 million) and money market funds (-$1.3 billion), while they padded the coffers of taxable bond funds (+$1.4 billion net) and municipal bond funds (+$550 million net).
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Source: Thomson Reuters
Invesco Enhances its Market-Leading Factor Suite with the Addition of New Fixed Income ETFs
July 25, 2018--Eight New Products Utilize Expertise from Invesco Fixed Income Team Through Indexes Developed by Invesco Indexing
Invesco Ltd. (NYSE: IVZ), a leading global provider of exchange-traded funds
(ETFs), today announced the launch of a new suite of factor ETFs that brings together some of the best of Invesco's passive and active capabilities.
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Source: Invesco
Quarterly Highlights-EDHEC-Princeton Retirement Goal-Based Investing Index Series
July 25, 2018--Quarterly highlights of the July 2018 EDHEC-Princeton Retirement Goal-Based Investing Index Series:
Goal Price Index Series
The 2038 Goal Price Index for an income goal with no cost-of-living-adjustment is 8.57: this means that as of July 2, 2018, it costs 8.57 US dollars to secure 1.00 US dollar of replacement income every year starting in January 2038 for a period of 20 years;
Since January 2018, index values have remained rather stable. US interest rates have slightly increased: the yield on 10-year Treasury securities was at 2.46% on January 2 and is now at 2.84% after a peak at 3.11% in May. Higher rates imply in principle lower index values (just like they imply lower bond prices), but the horizon effect, which implies higher index values as time goes by, has offset this effect.
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Source: EDHEC-Risk Institute
New Paper Predicts Industry Must Cope With Five Times More Reports Than Actual Trades Once SFTR Takes Effect
July 25, 2018--Paper highlights the impact of securities finance trade reporting on the industry including collateral supply, liquidity and operations.
A paper on the impact of the Securities Financing Transactions Regulation (SFTR) reveals that transaction reporting for securities financing trades may create five times as many reports as trades when the regulation takes effect, which is expected in early 2020. The paper was jointly published by The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, and its consultancy partner: The Field Effect.
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Source: dtcc.com
Twelve charts to watch for signs of the next U.S. downturn
July 25, 2018--Economists and investors are watching for signs they hope can predict when the wheels will come off a near-record U.S. economic expansion and equities bull market.
Some are already worried about a flattening Treasuries yield curve and slowing housing market, even as other economic vital signs remain healthy.
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Source: Reuters
