Americas ETP News
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Lowest Priced Gold ETF Hits Market-GraniteShares delivers lowest cost physical gold backed ETF to market*
August 31, 2017---GraniteShares looks to raise the BAR in standards, and lower the BAR on price
Will the gold ETF market ever look the same again?
GraniteShares, a new kind of exchange-traded fund (ETF) company focused on disruption through new exposures, better structures and low-cost investments, today is seeking to set the gold standard for low-cost access to gold with the launch of the GraniteShares Gold Trust (NYSE Arca: BAR).
The fund begins trading today and boasts the lowest expense ratio of all gold ETFs in the marketplace at 20 basis points*.
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Source: GraniteShares
FINRA-Initial Coin Offerings: Know the risks before you buy
August 31, 2017--The Financial Industry Regulatory Authority (FINRA) today issued an Investor Alert warning investors about the potential risks of participating in initial coin offerings, commonly referred to as ICOs.
An ICO involves the creation and distribution of virtual coins or tokens by a company to raise capital. ICOs differ from initial public offerings (IPOs) of stocks. ICOs typically confer no ownership rights in the company and, unlike bonds, ICOs do not involve investors lending money to the issuer.
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Source: Financial Industry Regulatory Authority (FINRA)
Canadian economy grows at 4.5% pace in Q2, easily beating forecasts
August 31, 2017--Canada's economy grew at a rapid pace in the second quarter, easily beating economists' expectations and the rate of growth at its larger neighbour, the US.
Gross domestic product rose at an annualised pace of 4.5 per cent in the second quarter, Statistics Canada said.
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Source: FT.com
NYSE Proposes Delay on End-of-Day Company Announcements
August 30, 2017--Move is a bid to protect exchange's closing auctions that determine end-of-day price for thousands of stocks
Besieged by fast-trading robots, the floor traders at the New York Stock Exchange are getting a little help: an exchange-imposed news embargo for listed companies in the minutes after the market's 4 p.m. close.
The NYSE, a unit of Intercontinental Exchange Inc., plans to prevent firms from issuing news releases for up to five minutes after closing time, according to a regulatory notice that came out this week.
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Source: Wall Street Journal
Virtus ETF Solutions Rebrands BioShares ETFs; Moves Listings for BBC, BBP to NYSE Arca
August 30, 2017--Virtus ETF Solutions, an affiliate of Virtus Investment Partners, Inc. (NASDAQ: VRTS) and multi-manager ETF sponsor, today announced that effective September 1, 2017, the BioShares Biotechnology Clinical Trials Fund (Ticker: BBC) and the BioShares Biotechnology Products Fund (Ticker: BBP) will change their names to the Virtus LifeSci Biotech Clinical Trials ETF and the Virtus LifeSci Biotech Products ETF, respectively, and will change their primary listing venue to NYSE Arca.
The funds, which are advised by Virtus ETF Advisers, will retain their current ticker symbols when they commence trading on the NYSE Arca exchange at market open on September 1, 2017.
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Source: Virtus ETF Solutions
Turner Investments To Acquire Leading ETF Innovator Elkhorn Capital Group
August 30, 2017--Turner to Expand Investment Team and Product Capabilities, Adding Office in Wheaton, IL
Elkhorn to Benefit from Turner Proprietary Investment Processes to Drive Strategic Alpha ETF Strategies.
Turner Investments Holdings LP ("Turner," or the "Company"), an affiliate of Veracen, LP ("Veracen") announced today that the Elkhorn Funds' Board of Trustees has approved Turner's acquisition of Elkhorn Capital Group LLC ("Elkhorn"), a leading innovator of exchange traded products, including ETFs, ETNs, and UITs, located in Wheaton, Illinois. The acquisition is subject only to documentation and is not conditioned on shareholder approval. The transaction is expected to close in the next several weeks.
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Source: Turner Investments LLC
U.S. second-quarter GDP growth revised up, fastest in over two years
August 30, 2017-- The U.S. economy grew faster than initially thought in the second quarter, notching its quickest pace in more than two years, and there are signs that the momentum was sustained at the start of the third quarter.
Gross domestic product increased at a 3.0 percent annual rate in the April-June period, the Commerce Department said in its second estimate on Wednesday. The upward revision from the 2.6 percent pace reported last month reflected robust consumer spending as well as strong business investment.
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Source: Reuters
CFTC.gov Swaps Report Update
August 30, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
State Street Global Advisors Announces Changes to the SPDR Morgan Stanley Technology ETF
August 29, 2017--State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT), today announced changes to the name and index of the SPDR Morgan Stanley Technology ETF.
Effective Monday, September 11, 2017, the fund will be renamed the SPDR NYSE Technology ETF and begin tracking the NYSE Technology Index. The fund's ticker symbol will be changed to XNTK. The annual gross expense ratio remains unchanged at 0.35 percent and no action is required by shareholders.
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Source: State Street Global Advisors
Under investor pressure, Goldman to explain trading strategy
August 29, 2017--Goldman Sachs Group Inc will detail plans to turn around performance at its core bond-trading unit next month after unusual pressure from large investors frustrated by vague explanations of its troubles, people familiar with the matter told Reuters.
The move is a break from tradition at Wall Street's pre-eminent bank, which usually gives its investors little information about how it makes money.
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Source: Reuters
