Americas ETP News
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Bernstein Announces Launch Of Two Exchange Traded Funds (ETFs) Based On Its Award-Winning Research
October 18, 2017--Bernstein U.S. Research ETF and Bernstein Global Research ETF Will Seek to Track Bernstein's Proprietary Indices Which Include Its "Outperform" Rated Stocks
Bernstein, Wall Street's highly regarded sell-side research and brokerage firm, today announced the launch of a new pair of exchange traded funds (ETFs)-the Bernstein U.S. Research Fund (BERN) and Bernstein Global Research Fund (BRGL) by Exchange Traded Concepts, LLC.
The ETFs will seek to track the Bernstein U.S. Research Index (BERNUSQT) and the Bernstein Global Research Index (BERNGLQT), respectively, which include stocks that are rated "outperform" by Bernstein's highly regarded research analysts, and are highly rated in the firm's pioneering quantitative alpha model.
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Source: AllianceBernstein Holding L.P
Global X Funds Announces Launch of the Global X Iconic U.S. Brands ETF (LOGO)
October 18, 2017--LOGO Seeks to Harness U.S. Consumption Through the Power of Recognized Brands
Global X Funds, the New York-based provider of exchange traded funds (ETFs), today announced the launch of the Global X Iconic U.S. Brands ETF (BATS: LOGO). Tracking the Accuvest Iconic U.S. Brands Index, the fund offers exposure to U.S. consumption by holding 100 of the most recognizable brands in the U.S. as defined by the index provider, Accuvest Global Advisors.
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Source: Global X Funds
CFTC's LabCFTC Releases Primer on Virtual Currencies
October 17, 2017--First of a Series of Readers to Help Market Participants and Innovators Navigate the FinTech Landscape
The Commodity Futures Trading Commission's LabCFTC today released, "A CFTC Primer on Virtual Currencies." This primer is the first of a series that LabCFTC will release to provide fundamental, and essential, information about financial technology (FinTech) innovation.
LabCFTC believes that promoting education, understanding, and regulatory clarity around emerging technologies can help facilitate market-enhancing innovation and guard against risks," said the Director of LabCFTC, Daniel Gorfine, adding, "As people worldwide try to understand and wrap their heads around the virtual currency ecosystem, we thought it timely and important for our first primer to help explain the space, identify how developments involve the CFTC, and highlight risks that investors or users of virtual currencies should carefully consider."
view the A CFTC Primer on Virtual Currencies
Source: CFTC.gov
Research Affiliates-Can Momentum Investing Be Saved?
October 17, 2017--Key Points
Simulated portfolios based on momentum add remarkable value, in most time periods and in most asset classes, all over the world; however, live results for mutual funds that take on a momentum factor loading are surprisingly weak.
A primary contributor to the performance gap between the standard momentum factor's live and theoretical results is the price impact of trading costs associated with the strategy's high turnover.
In addition to thoughtful implementation, relying on a strong sell discipline and avoiding stocks with stale momentum can help investors capture more of the benefits of the momentum factor.
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Source: Research Affiliates
AdvisorShares Weekly Market Review-FOMC Divergence
October 17, 2017--Highlights of the Week Ending 10/13/2017
Macro
It was a big week for news but a very quiet for markets.
The Dow Jones Industrial Average gained 0.47%, the S&P 500 was up 0.17%, the NASDAQ moved ahead by 0.24% but the Russell 2000 fell 0.51%.
Bloomberg believes that the public spat between President Trump and Tennessee Senator Bob Corker jeopardizes the much discussed and eagerly awaited tax reform.
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Source: AdvisorShares
First Family of Actively Managed ETFs Designed to Provide Exposure to Political and Policy-Driven Events Launched
October 17, 2017--GOP and DEMS are joined by TAXR, a tactical strategy focused on Tax Reform
The first family of actively managed exchange-traded funds (ETFs) designed to give investors exposure to major multi-factor political, economic, and policy-driven events and themes was introduced today by EventShares.
The two flagship ETFs-the EventShares Republican Policies Fund (BATS: GOP) and the EventShares Democratic Policies Fund (BATS: DEMS)-seek to construct portfolios expected to be positively affected by each respective party's policies. Both seek to provide capital appreciation by unlocking value from policy-driven events and themes. Neither fund seeks to replicate the performance of a specific index.
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Source: EventShares
CBOE Holdings Becomes Cboe Global Markets, Unveils New Corporate Identity
October 17, 2017--CBOE Holdings, Inc. today unveiled its new name, Cboe Global Markets, Inc. (BZX: CBOE | NASDAQ: CBOE), identity and mission at the Futures Industry Association (FIA) Expo 2017 conference, currently taking place in Chicago.
The changes were made to better reflect the evolving nature and spirit of the company and follows the acquisition of Bats Global Markets (Bats) earlier this year.
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Source: Cboe Global Markets, Inc.
Canadian securities regulators outline disclosure expectations and certain risks for issuers with U.S. marijuana-related activities
October 16, 2017----The Canadian Securities Administrators(CSA) today published CSA Staff Notice 51-352 Issuers with U.S. Marijuana-Related Activities, which among other things, outlines CSA staff's specific disclosure expectations for issuers that have, or are in the process of developing, marijuana-related activities in the U.S.
Issuers with marijuana-related activities in the U.S. assume certain risks due to conflicting state and federal laws. While some states have authorized the use and sale of marijuana, it remains illegal under federal law. The federal law relating to marijuana could be enforced at any time, and this would put issuers with U.S. marijuana-related activities at risk of being prosecuted and having their assets seized.
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Source: The Canadian Securities Administrators(CSA)
Old Wall Street Is Losing the War Under the Surface of ETFs
October 16, 2017--Electronic traders are boosting their share of market making
Regulation has hurt this business for firms like Goldman Sachs.
A hidden war is taking place within your exchange-traded fund, and some of the biggest names on Wall Street are losing out.
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Source: Bloomberg
State Street Escalates ETF Fee War, Chops Fees on 15 Products
October 16, 2017--The move is the latest example of an ETF provider trying to win business with rock-bottom management fees
Global Advisors is overhauling more than 15 exchange-traded funds, slashing management fees and rebranding funds in a bid to lure retail investors and financial advisers. The move is the latest example of an ETF provider banking on rock-bottom management fees to win new money in a hyper-competitive market for products that give investor blunt exposures
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Source: Wall Street Journal
