Americas ETP News
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Citi Appointed by EntrepreneurShares to Provide ETF, Custody and Fund Administration Services for its first Exchange Traded Fund
November 29, 2017--Citi has been appointed by EntrepreneurShares to provide full ETF Services including fund accounting and administration, custody, and transfer agency for its inaugural ETF fund (NYSE:ENTR).
Headquartered in Boston, MA, EntrepreneurShares has created a rules-based methodology that selects publically-traded entrepreneurial companies and applies this criteria to their selection process.
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Source: Citi
U.S. Economy Grows Faster than Expected in 3rd Quarter
November 29, 2017--The Bureau of Economic Analysis (BEA) announced that the U.S. economy grew at a 3.3 percent pace in their third quarter of 2017-faster than their initial estimate of 3.0 percent.
This is the second straight quarter that the economy grew at a 3 percent pace--BEA's third estimate for the second quarter showed that the U.S. economy grew at a 3.1 percent pace. The last time the economy grew at a 3 percent pace for two consecutive quarters was three years ago.
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Source: Department of the Commerce
Nasdaq Plans to Launch Bitcoin Futures in First Half 2018
November 29, 2017--Separately, Cantor Fitzgerald plans derivatives based on the cryptocurrency on its exchange
Nasdaq Inc. and broker Cantor Fitzgerald LP are looking to join the rush on Wall Street to trade bitcoin, which hit a record on Wednesday.
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Source: Wall Street Journal
New ETF joins fight against sexual harassment in workplace
November 29, 2017--A new exchange-traded fund is being introduced for investors who want their money kept far away from sexual harassment in the workplace.
The Impact Shares YWCA Women's Empowerment ETF is expected to launch in the first quarter of 2018, and enable people to invest with companies that promote women's interests and take strong stands against workplace harassment.
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Source: Reuters
CFTC.gov Swaps Report Update
November 29, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
FAIR Act Expands Safe Harbor for ETF Research Reports Published by Broker-Dealers
November 28, 2017--On October 6, 2017, the Fair Access to Investment Research Act of 2017 (FAIR Act) was signed into law. The FAIR Act directs the SEC to amend Rule 139 under the Securities Act of 1933 to expand the Rule's safe harbor to provide that an investment fund research report regarding an ETF that is published or distributed by a broker-dealer, other than a broker-dealer that is, or is affiliated with, the ETF's investment adviser, will not constitute an offer to sell the ETF’s securities pursuant to an effective registration statement, even if the broker-dealer participates in the offering of the ETF's securities.
The FAIR Act provides that the expanded safe harbor may not be conditioned on a broker-dealer's initiating or reinitiating research coverage of an ETF that is engaged in a continuous distribution of shares.
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Source: lexology.com
AdvisorShares Lowers Total Net Expense Ratio for Top-Performing AADR International Equity ETF
November 28, 2017-- Five-star Morningstar ratedTN AdvisorShares Dorsey Wright ADR ETF (Ticker: AADR) recently surpassed $150 million AUM milestone.
AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that the AdvisorShares Dorsey Wright ADR ETF (Ticker: AADR) has lowered its total net expense ratio to 0.99%, by contractually agreeing to reduce the fund's expense limitation from 1.25% to 0.98%.1 The actively managed AADR recently surpassed $150 million in assets under management, which has allowed a significant reduction in the ETF's operating expenses as it has become more operationally-efficient.
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Source: AdvisorShares
Global Investor Confidence Declines in November by Only 1.0 point to 97.1
November 28, 2017--State Street Global Exchange today released the results of the State Street Investor Confidence Index(R) (ICI) for November 2017.
The Global Investor Confidence Index decreased to 97.1, down 1.0 point from October's revised reading of 98.1.
The minor decline in global sentiment was driven largely by a 12.0 point drop in the European ICI to 81.0. By contrast, the North American ICI rose by 3.7 points to 102.6 and the Asian ICI increased by 1.0 point to 97.5.
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Source: State Street Corporation
Vanguard To Introduce First Actively Managed ETFs With Suite Of Factor Funds
November 28, 2017--Vanguard today filed a registration statement for six new factor-based ETFs and one factor-based mutual fund, representing Vanguard's first introduction of actively managed ETFs in the U.S.
The company currently offers suites of active factor ETFs in Canada and the United Kingdom. The new factor funds are expected to begin trading in the first quarter of 2018.
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Source: Vanguard
Unknown traders gain influence in commodities markets
November 27, 2017--Growth of so-called 'other reportables' raises concerns on transparency
A mysterious group is exerting growing influence in commodities markets: the "other reportables".
The vague term is a catchall for speculative traders that are not money managers published in a weekly report by the US Commodity Futures Trading Commission...
