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UBS ETRACS launches two ETNs linked to ISE Exclusively Homebuilders Total Return Index
March 11, 2015--UBS ETRACS Launches Two Exchange-Traded Notes Linked to the ISE Exclusively Homebuilders Total Return Index
ETRACS ISE Exclusively Homebuilders ETN
ETRACS Monthly Reset 2xLeveraged ISE Exclusively Homebuilders ETN
UBS Investment Bank announced that today is the first day of trading on the NYSE Arca(R) for two new ETNs: the ETRACS ISE Exclusively Homebuilders ETN (NYSE Arca(R): HOMX) and the ETRACS Monthly Reset 2xLeveraged ISE Exclusively Homebuilders ETN (NYSE Arca®: HOML). HOMX is linked to the performance of the ISE Exclusively Homebuilders Total Return Index and HOML is linked to the monthly compounded 2x leveraged performance of the ISE Exclusively Homebuilders Total Return Index.
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Source: UBS Investment Bank
Exchange Traded Concepts to Close and Liquidate the Horizons S&P Financial Select Sector Covered Call ETF
March 11, 2015--After careful consideration, the Board of Trustees of the Exchange Traded Concepts Trust II has determined to close and liquidate the Horizons S&P Financial Select Sector Covered Call ETF (NYSE: HFIN), which is managed and marketed by Horizons ETFs Management (USA) LLC ("Horizons USA").
The last day of trading of the Fund's shares on the NYSE Arca will be March 20, 2015.
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Source: Exchange Traded Concepts
Eaton Vance NextShares Carves Out a New Space
Eaton Vance NextShares is forging a new path with exchange-traded managed funds, and Stephen Clarke is leading the way. But is this new asset class ready for the opening bell?
March 11, 2015--In November, Eaton Vance received something it had been working toward for four years: Securities and Exchange Commission approval to offer a new class of investment product that the firm referred to as exchange-traded managed funds (ETMFs).
The product, which Eaton Vance has since rebranded as NextShares, seeks to blend the alpha of managed mutual funds with the efficiencies and cost savings that have helped grow exchange-traded funds (ETFs) into an industry that last year topped $2 trillion for the first time.
For actively managed mutual funds, it's a space that some market participants view as an enormous opportunity.
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Source: Traders Magazine
OSC's Investor Advisory Panel Releases Annual Report
March 10, 2015--The Investor Advisory Panel has submitted its Annual Report 2013-14 to the Ontario Securities Commission (OSC).
The Report summarizes the Panel's current activities and priorities as well as its recommendations to the Commission on proposals of importance for investor protection.
Throughout the past year, in its submissions to the Commission, in its public comments and in discussions with Commission staff, the Panel has focused on fundamental flaws in Canada's investor protection regime which, although well-known and clearly identified, remain unaddressed.
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Source: Ontario Securities Commission
State Street Global Advisors Announces Changes to U.S. SPDR ETF Lineup
March 10, 2015--State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE:STT), today announced plans to close and liquidate the following three exchange traded funds based on an ongoing review of the SPDR ETF offering and limited market demand:
SPDR S&P Mortgage Finance ETF (KME);
SPDR S&P Small Cap Emerging Asia Pacific ETF (GMFS); and
SPDR Nuveen S&P VRDO Municipal Bond ETF (VRD).
The final day for creations in the liquidating ETFs will be March 18, 2015.
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Source: CNBC.com
BATS Global Markets names Kapil Rathi as VP Options Business Strategy
BATS Adds to Strong Team Leading Its Growing Options Market
March 10, 2015--Global Markets (BATS), a leading operator of exchanges and services for financial markets globally, today announced the hiring of Kapil Rathi as Vice President, Options Business Strategy.
Mr. Rathi joined BATS on February 23rd after 10 years in key roles at the International Securities Exchange (ISE) and is working closely with Jeromee Johnson, Vice President, Options Business Strategy, as a senior member of the BATS Options team.
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Source: BATS
Vanguard says Europe head Thomas Rampulla to lead US advisor services unit
March 10, 2015--Mutual fund company Vanguard Group said it would move the head of its UK and European operations, Thomas Rampulla, to the United States to head its $1 trillion Financial Advisor Services division by mid-year.
Rampulla, who started at Vanguard in 1988, will join the firm's senior executive team and report to Chief Executive Bill McNabb, who has called Rampulla his top "culture carrier" in the United Kingdom.
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Source: Reuters
BNY Mellon ADR Index Monthly Performance Update-February 2015
March 10, 2015--The BNY Mellon ADR Index Monthly Performance Update-February is now available.
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Source: BNY Mellon
NYSE Sees Progress In Push For Faster Active ETF Listings
March 9, 2015--The New York Stock Exchange's Arca unit has reached a new turning point in its push to speed listing times for actively managed, transparent exchange-traded funds, an exchange official said.
Laura Morrison, head of global index and exchange-traded products at NYSE, said the Securities and Exchange Commission has formally recognized a February filing by NYSE Arca Inc., adding that a March 4 regulatory notice from the SEC was the final stage before such the proposal can be put out for public comment.
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Source: Wall Street Journal
CBO-Monthly Budget Review for February 2015
March 9, 2015--The federal government ran a budget deficit of $386 billion for the first five months of fiscal year 2015, CBO estimates-$10 billion more than the shortfall recorded in the same span last year.
CBO expects that, if lawmakers enact no further legislation affecting spending or revenues, the deficit in 2015 will end up at about $486 billion, roughly the same as the deficit incurred in 2014.
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Source: Congressional Budget Office (CBO)
