Americas ETP News
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SEC judge reaffirms '16 market data decision in favor of exchanges
January 3, 2018--Stock exchanges notched a key legal victory related to their highly profitable, yet controversial, market data businesses with a recent decision from a Securities and Exchange Commission administrative law judge.
On a Dec. 21, 2017, court filing, SEC Chief Administrative Law Judge Brenda Murray ratified a June 2016 decision that exchanges' market data businesses are subject to competitive forces. The decision could mark the end of a nearly five-year court battle originally brought by the Securities Industry and Financial Markets Association, a group composed of dozens of broker/dealers and banks, against exchange operators Nasdaq Inc. and the New York Stock Exchange, which is owned by Intercontinental Exchange Inc.
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Source: S&P Global Market Intelligence
Minutes of the Federal Open Market Committee December 12-13, 2017
January 3, 2018--Developments in Financial Markets and Open Market Operations
The manager of the System Open Market Account (SOMA) reported on developments in domestic and international financial markets over the intermeeting period.
Equity prices moved higher over the period, with market participants pointing to the likely passage of tax reform legislation as an important factor contributing to the rise. The narrowing of the spread between long-and short-term Treasury yields over recent months had been a focus of market attention. Market participants cited a range of factors as contributing to this narrowing, including the gradual firming in the stance of monetary policy as well as an increasing expectation among investors that the Treasury Department would issue substantial volumes of shorter-term securities in meeting its financing needs over coming years.
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Source: federalreserve.gov
Schwab ETF OneSourceTM Adds a Dozen New Commission-Free ETFs1
January 3, 2018--Assets in Commission-Free ETF Program Surpassed $100 Billion in 2017
Charles Schwab announced that Schwab ETF OneSourceTM, one of the largest commission-free ETF programs in the industry, is adding twelve new ETFs to its lineup effective today.
With these additions, investors and advisors can access 254 ETFs covering 69 Morningstar Categories with $0 online commissions, no enrollment requirements and no early redemption fees-key differentiators for investors comparing Schwab ETF OneSource to other commission-free ETF offerings.
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Source: Schwab ETF OneSource
State Street Global Advisors Launches Three 'Innovative Industry' ETFs Designed to Provide Investors Access to Companies Whose Products and Services are Driving Innovation Behind Industries Propelling the New Economy
January 3, 2018--State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT), today announced the launch of three SPDR ETFs tracking Kensho New Economies indices.
Designed to complement State Street Global Advisors' existing sector and industry SPDR ETF suite, the new ETFs may help investors by providing both tactical and long-term innovative investment ideas with a transparent, rules-based approach.
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Source: State Street Global Advisors
CFTC.gov Swaps Report Update
January 3, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
SEC Seeks Comment on CBOE Bitcoin ETF Filings
January 3, 2018--The SEC is asking for public comment on two proposed rule changes that, if approved, would lead to the listing of the first-ever bitcoin-based exchange-traded funds.
Released by the SEC on Dec. 28 and Jan. 2 as a way to solicit public input on the proposals, the new documents make public proposed rule changes put forward by the Chicago Board Options Exchange (Cboe) that would exempt its proposed bitcoin ETFs from certain market manipulation rules.
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Source: coindesk.com
Cboe Launches New Volatility Product Microsite for ETP Investors
January 2, 2018--Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange
holding companies, has launched a new microsite designed to educate and inform investors about exchange-traded volatility products (ETPs).
The site is available at cboe.com/voletps.
Cboe is the home of the Cboe Volatility Index(R) (VIX(R) Index), which is considered by many to be the world's premier barometer of equity market volatilit
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Source: Cboe Global Markets
The Natixis Loomis Sayles Short Duration Income ETF (LSST) Launches to Help Investors Manage Credit Cycle Exposure and Potential Market Volatility
January 2, 2018--Loomis, Sayles & Company, an affiliate of Natixis Investment Managers, today announced the launch of the Natixis Loomis Sayles Short Duration Income ETF (NYSE Arca: LSST), an actively managed, investment-grade,1 short-duration fixed income strategy. The fund began trading December 28, 2017.
Loomis Sayles subadvises the fund. The portfolio is managed by Christopher Harms, Cliff Rowe and Kurt Wagner, an experienced team who currently co-manage $18.2 billion in assets across short, intermediate duration and core fixed income strategies at Loomis Sayles (as of September 30, 2017). The LSST fund's total gross expense ratio is 0.87% and total net expense ratio is 0.38%.2
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Source: Loomis, Sayles & Company
AdvisorShares Weekly Market Review-New Year, Same As The Old Year?
January 2, 2018--Highlights of the Week Ending 12/29/2017
Macro
We're not sure if the US equity markets had a great year because of anything President Trump did or in spite of anything he did, the answer depends on who you ask.
Really though, it doesn't matter, success in 2017 was really about the decision to be in the market or out of the market which of course is the cornerstone to top down portfolio management.
This one (not so) simple decision accounts for 70% of an investor's ultimate return and 2017 was a poster child for this theory.
On a price basis, the Dow Jones Industrial Average gained 25.07%, the S&P 500 was up 19.42%, the NASDAQ put on 28.23% and the Russell 2000 brought up the rear with 13.14%
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Source: AdvisorShares
The Forum at ETF Research Center-January 2018
January 2, 2018--The ETF Analyzer, Sector SPDR Edition for January 2018 is ready for download. This monthly publication has succinct one-page reports on each of the 10 Select Sector SPDR ETFs in three easy-to-read sections: Investment Summary, Fundamentals, and Composition.
It helps investors:
Evaluate the funds based on investment merit using fundamental data and analysis
Compare the Sector SPDRs with ease on a variety of forward-looking valuation metrics
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Source: AltaVista Research
