Americas ETP News
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Statement by the CFTC and the European Commission on progress relating to the implementation of the 2013 Path Forward Statement
February 12, 2014--Today Acting Chairman Mark Wetjen and European Commissioner Michel Barnier announced that staff of the United States Commodity Futures Trading Commission (CFTC) and staff of the European Commission (EC) have made significant progress towards harmonizing a regulatory framework for CFTC-regulated swap execution facilities (SEFs)
and EU-regulated multilateral trading facilities (MTFs), as contemplated under the Path Forward statement issued in July 2013.
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Source: CFTC.gov
IMF Working paper-The U.S. Manufacturing Recovery: Uptick or Renaissance?
February 12, 2014--Summary: The notable rebound of U.S. manufacturing activity following the Great Recession has raised the question of whether the sector might be experiencing a renaissance. Using panel regressions, we find that a depreciating real exchange rate, an increasing spread in natural gas prices between the United States and other G-7 countries, and in particular decreasing unit labor costs have had a positive impact on U.S. manufacturing production.
While we find it unlikely for manufacturing to become a main engine of growth in the United States, we find that U.S. manufacturing exports could provide nonnegligible growth opportunities going forward.
view the IMF Working paper-The U.S. Manufacturing Recovery: Uptick or Renaissance?
Source: IMF
Fee Rate Advisory #3 for Fiscal Year 2014
February 12, 2014--The Securities and Exchange Commission today announced that starting on March 18, 2014, the fee rates applicable to most securities transactions will be set at $22.10 per million dollars. The assessment on security futures transactions will remain unchanged at $0.0042 for each round turn transaction.
The Commission determined these new rates in accordance with Section 31 of the Securities Exchange Act of 1934. These adjustments do not directly affect the amount of funding available to the SEC.
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Source: SEC.gov
Leveraged ETFs not just for day traders anymore
February 12, 2014--Leveraged exchange-traded funds, originally viewed as tools for fast-moving day traders, are showing up more frequently as buy-and-hold investments in Mom and Pop portfolios, thanks to the advisers who are putting them there.
These funds, which exist across several asset classes, magnify the moves of their underlying indexes by delivering twice or three times their return. Some had a particularly good showing in 2013, when the Standard & Poor's 500 index rose almost 30 percent. The Direxion Daily S&P 500 Bull 3x Shares ETF, for example, gained 118.9 percent in 2013, more than triple the S&P 500's gains.
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Source: Reuters
BNP Paribas CIB Expands Its US ETF Trading Capabilities With Key Hire
February 12, 2014--BNP Paribas Corporate and Investment Banking is pleased to announce that Andy Ruckh has joined Global Equities and Commodity Derivatives business in New York as Head of US ETF Trading.
The move reflects an expansion of the bank's US ETF Trading capabilities designed to provide additional service and expertise to a range of clients. Ruckh will report to Luke Edwards, Head of Cash Equities.
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Source: BNP Paribas
Fidelity's Profit Up 13% as Outflows Decline
Clients Pull Less Money From Its Stock and Bond Mutual Funds
February 12, 2014--Fidelity Investments, the Boston-based asset manager and discount brokerage, said the operating income of its financial services business rose 13% to $2.6 billion, though investors continued to pull money from the company's stock and bond mutual funds.
Investors pulled a net $7.8 billion from Fidelity's stock products in 2013, even as the rest of the industry saw substantial inflows into such funds. Last year, U.S. stock mutual funds and exchange-traded funds overall garnered more than $172 billion from investors,, according to research firm Lipper Inc. In 2012, Fidelity's stock products saw withdrawals of $32.4 billion.
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Source: Wall Street Journal
CFTC.gov Swaps Report Update
February 12, 2014--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
AdvisorShares Announces Launch of Four Gold/Currency ETFs (GEUR, GGBP, GYEN, GLDE)
Continuing Innovation Allows Exposure to Gold in Different Currency Terms
February 11, 2014--AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today the launch of four industry-first ETFs- providing gold exposure in different currency terms through a 40 Act structure-which will begin trading on Wednesday, February 12, 2014:
AdvisorShares Gartman Gold/Euro ETF (NYSE Arca: GEUR)
AdvisorShares Gartman Gold/British Pound ETF (NYSE Arca: GGBP)
AdvisorShares Gartman Gold/Yen ETF (NYSE Arca: GYEN)
AdvisorShares International Gold ETF (NYSE Arca: GLDE)
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Source: AdvisorShares
Guggenheim Investments to Close and Liquidate Enhanced Core Bond ETF (GIY)
Firm is dedicated to its ETF business covering a broad range of strategies including-domestic and international equity, fixed-income and currency
February 11, 2014-- Guggenheim Investments, the investment management division of Guggenheim Partners, LLC, today announced that it will liquidate the Guggenheim Enhanced Core Bond ETF (GIY) in order to reinforce its commitment to focusing resources on products that have demonstrated the most demand in the marketplace. The firm currently ranks eighth in AUM among U.S. ETF providers1.
"Guggenheim remains committed to its leadership position in the ETF business and engages in a regular and thoughtful review of all of our products to ensure that we are meeting our clients' needs," said William Belden, managing director, product development for Guggenheim Investments. "ETF closures are a healthy part of the maturation of the industry, and enable providers to free up capital to develop new and innovative product offerings for investors."
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Source: Guggenheim Partners
CFTC Announces Measures to Promote Trading on Swap Execution Facilities and Support an Orderly Transition to Mandatory Trading
February 11, 2014--The Commodity Futures Trading Commission (Commission) today announced measures to promote trading on swap execution facilities (SEFs)
and support an orderly transition to mandatory trading of swaps, which begins for certain interest rate swaps on February 15, 2014.
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Source: CFTC.gov
