Americas ETP News
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OCC Reports First Quarter Bank Trading Revenue of $7.7 Billion
June 29, 2015--Insured U.S. commercial banks and savings institutions reported trading revenue of $7.7 billion in the first quarter of 2015, $3.2 billion higher (72 percent) than in the fourth quarter, the Office of the Comptroller of the Currency (OCC) reported today in the OCC's Quarterly Report on Bank Trading and Derivatives Activities.
Trading revenue in the first quarter was $1.5 billion higher (24 percent) than in the first quarter of 2014.
view the OCC's Quarterly Report on Bank Trading and Derivatives Activities First Quarter 2015
Source: OCC
CFTC Proposes Narrowing Wall Street's Foreign Swaps Loophole
June 29, 2015--The top U.S. derivatives regulator took a step toward preventing Wall Street banks from evading the Dodd-Frank Act and shifting some of their trading overseas.
The Commodity Futures Trading Commission voted unanimously Monday to propose a requirement that broadens when banks' overseas divisions must meet U.S. collateral standards designed to curb risks in the $700 trillion swaps market.
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Source: Bloomberg
CFTC Issues Proposed Rule on Cross-Border Margin
June 29, 2015--The U.S. Commodity Futures Trading Commission (Commission) today voted unanimously to propose a rule that would apply the Commission's margin requirements for uncleared swaps in the context of cross-border transactions (Proposed Rule).
The Proposed Rule would apply to Commission-registered swap dealers and major swap participants that are not subject to the margin requirements of other prudential regulators, such as the Federal Reserve Board, Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (collectively, covered swap entities). The comment period ends 60 days after the publication in the Federal Register.
view the Fact Sheet-Proposed Rule Regarding the Cross-Border Application of the Margin Requirements
Source: CFTC.gov
The mutual fund marketplace is broken, Time to fix it.
Many share classes exist only to hide fees paid by mutual funds to brokers in exchange for feeding them business
June 28, 2015--Wall Street and Washington have it wrong. The most important debate today isn't whether financial professionals should adopt the suitability standard or the fiduciary standard.
The pros and cons have been argued ad nauseam; eventually, from D.C. to Main Street, we will all recognize the appropriate choice.
The more flagrant issue to address-and a relatively easy one to fix-is the mind-boggling array of share classes offered by many open-end mutual fund companies.
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Source: Investment News
CFTC Commitments Of Traders Reports Update
June 26, 2015--The current reports for the week of June 23, 2015 are now available.
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Source: CFTC.gov
BlackRock to Jettison 18 ETFs; Mostly Niche International Funds Affected
June 26, 2015--lackRock (BLK), the largest provider of exchange-traded funds, announced it will close 18 iShares products, mostly those offering niche exposures to international stocks.
Funds getting the boot collectively contain about $227 million in assets. The closures will reduce the number of iShares offerings by about 6%, reducing their total number to 299, according to XTF.
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Source: Barron's
Renaissance Capital's-IPO Calendar Week of 06/29/15
June 26, 2015--The Renaissance Capital's-IPO Calendar Week of 06/29/15 is available.
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Source: Renaissance Capital
ETF firms reach out as fees rules arrive
June 26, 2015--Canada's financial advisers are bracing for some tough conversations with clients later this year when regulatory changes requiring greater fee transparency take effect, but the country's exchange-traded fund industry is highly motivated to help make those chats go smoothly.
From market leaders such as BlackRock Inc.'s iShares and Bank of Montreal to smaller players including First Asset and First Trust, ETF providers see a huge opportunity to grow assets under management by stepping up efforts to educate advisers about their low-cost offerings and help them understand how they can add value and continue to justify their roles as a conduit for sound investment planning.
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Source: The StarPhoenix
Morningstar Introduces Active/Passive Barometer to Measure Relative Performance of Active Fund Managers against Passive Peers
June 25, 2015--Morningstar, Inc., a leading provider of independent investment research, today introduced an Active/Passive Barometer to help investors measure the relative performance of active U.S. fund managers against passive U.S. funds within their respective Morningstar categories.
Morningstar's manager research analysts presented the new report at the 27th annual Morningstar Investment Conference for financial advisors in Chicago.
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Source: Morningstar, Inc
ProShares Launches Currency Hedged Europe and Japan ETFs
Expenses are half of those of similar ETFs
June 25, 2015--ProShares, a premier provider of alternative ETFs, today announced the launch of two currency hedged equity ETFs: ProShares Hedged FTSE Europe ETF (HGEU) and ProShares Hedged FTSE Japan ETF (HGJP). Both are listed on NYSE Arca.
"Investors have poured billions of dollars into currency hedged ETFs to gain exposure to foreign equities while being hedged against local currency risk," said Michael L. Sapir, cofounder and CEO of ProShare Advisors LLC, the advisor to ProShares. "With this launch today, investors who desire the benefits of currency hedged ETFs now have the option of obtaining them at a substantially lower cost than similar ETFs in the market."
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Source: MarketWatch
