Americas ETP News
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For China, the floodgates are about to open
Based on pending index changes, China could become as much as 60% of emerging market indices.
June 1, 2015--On June 9th, MSCI will announce whether or not it will include the onshore Chinese markets into their broad indices.
U.S-listed Chinese companies will be included into broad MSCI indices starting in November 2015.
Taiwan and South Korea are approaching developed market status, which could make additional room for more China in emerging market indices. KraneShares has developed a suite of ETFs to capture these changes today, ahead of their implementation.
As China's markets continue to open-up, there has been increased focus on its weighting within international indices. China has been underrepresented in these indices due to its historic limitations on foreign investment. With these limitations rapidly being lifted, the timeline for China's full inclusion within international indices is starting to solidify. Additionally, China could see a further increase within emerging market indices as South Korea and Taiwan could be upgraded to developed market status in the coming years.
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Source: KraneShares
FINRA Brings Transparency to Asset-Backed Securities Market
June 1, 2015--The Financial Industry Regulatory Authority (FINRA) today brought transparency to the asset-backed securities market, providing investors with post-trade price information for asset-backed securities, including those backed by auto loans, credit card receivables and student loans.
Transactions in this market represent approximately 400 trades, totaling $3.5 billion in original principal balance, on an average daily basis.
Through TRACE (Trade Reporting and Compliance Engine), investors now have access to information regarding transactions in asset-backed securities, including transactions in asset-backed securities effected pursuant to Securities Act Rule 144A (144A transactions). 144A securities are considered private placements and can only be purchased by an institutional investor.
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Source: FINRA
CBOE Holdings Reports May 2015 Trading Volume
June 1, 2015--Total Volume of 85.3 Million Contracts
ADV of 4.3 Million Contracts, Down 8% From Year Ago
CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that total trading volume during May for options contracts on Chicago Board Options Exchange(R) (CBOE(R)) and C2 Options Exchange (C2)
and futures contracts on CBOE Futures Exchange (CFE(R)) was 85.3 million contracts, a decrease of 7 percent from April 2015 and 12 percent from May 2014.
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Source: CBOE
Recon Capital Partners Enters Strategic Engagement with Brazilian RIA
Partnership with Bullmark Financial Group expands Recon Capital's global investment solutions and distribution
June 1, 2015--Recon Capital Partners, the issuer behind the Recon Capital FTSE 100 ETF and the Recon Capital DAX Germany ETF, has increased its global distribution efforts and strengthened its commitment to continue delivering global investment solutions by partnering with Bullmark Financial Group, one of Brazil's fastest-growing RIA firms.
The scope of the relationship will entail both firms collaborating on product development, enhancement and distribution with an emphasis on Latin American-themed exchange-traded products (ETPs) that mitigate risk via intelligent index construction.
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Source: MarketWatch
ISE Holdings Reports Business Activity for May 2015
June 1, 2015--ISE and ISE Gemini combined represent 17.8% of equity options market share, excluding dividend trades.
ISE and ISE Gemini reported a combined ADV of 2.4 million contracts.
Dividend trades made up 1.0% of industry volume in May 2015.
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Source: International Securities Exchange
SEC issues fresh warning to private equity
May 31, 2015--The US regulator has issued a fresh warning to the $3.5tn private equity industry to expect more fines and enforcement actions for overcharging investors with inappropriate fees and expenses.
The Securities and Exchange Commission said there was "still room for improvement" on private equity managers’ fees and expense allocations, while also acknowledging that "some progress" had been made following its warning in 2014 that the industry should expect greater scrutiny from regulators.
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Source: FT.com
Outflow From The Largest US Oil ETF Reached $1 Billion In April-May
May 30, 2015--The biggest U.S. exchange-traded fund (ETF) that tracks oil, the United States Oil Fund, known as USO, is heading for the largest two-month outflow in six years. Investors are worried that it could be the end of crude’s 30 percent rally.
Shareholders of the USO have withdrawn almost $1 billion so far since the beginning of April, Bloomberg reports. The news agency points out that "crude dropped about $12 a barrel after a $1.4 billion exodus from the fund in the two months ended June 2009".
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Source: Emergingequity.com
National Income and Product Accounts Gross Domestic Product: First Quarter 2015 (Second Estimate)
Corporate Profits: First Quarter 2015 (Preliminary Estimate)
May 29, 2015--Real gross domestic product--the value of the production of goods and services in the United States, adjusted for price changes--decreased at an annual rate of 0.7 percent in the first quarter of 2015, according to the "second" estimate released by the Bureau of Economic Analysis.
In the fourth quarter, real GDP increased 2.2 percent.
The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, real GDP increased 0.2 percent.
With the second estimate for the first quarter, imports increased more and private inventory investment increased less than previously estimated.
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Source: Bureau of Economic Analysis (BEA)
This Week's IPO Calendar from Renaissance Capital
May 29, 2015--Renaissance Capital's IPO Calendar-Week of 6/1/2015.
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Source: Renaissance Capital
Lessons from a walk through the ETF graveyard
May 29, 2015--Although the exchange-traded product business is booming,
that doesn't mean a lot of funds aren't being closed, which could be one sign of a healthy market.
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Source: Investment News
