Americas ETP News
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SEC Issues Risk Alert on Investment Advisers' Due Diligence Processes for Selecting Alternative Investments
January 28, 2014-- The Securities and Exchange Commission's Office of Compliance Inspections and Examinations (OCIE) today issued a Risk Alert on the due diligence processes that investment advisers use when they recommend or place clients' assets in alternative investments such as hedge funds,
private equity funds, or funds of private funds.
view the Risk Alert on Investment Advisers' Due Diligence Processes for Selecting Alternative Investments
Source: SEC.gov
New York takes first step to regulating Bitcoin
Department of Financial Services suggests creating a "BitLicence" for companies using virtual currencies
January 28, 2014--Bitcoin has taken a big step towards being accepted into the mainstream after the world's largest financial centre laid out plans to regulate the controversial virtual currency.
Benjamin Lawsky, superintendent of the New York Finance Department, said he wanted to create a set of rules that would help to tame an industry still in its "Wild West" phase, but could end up being an integral part of the global financial system.
view filing
Source: The Telegraph
OCC Prepares to Launch OTC S&P 500 Equity Index Options Clearing
OCC has received regulatory approvals to clear over-the-counter (OTC) equity index options and plans to launch OTC S&P 500(R) equity index option clearing services in the second quarter.
January 28, 2014--OCC announced today it has received regulatory approvals to clear over-the-counter (OTC) equity index options, bringing capital and operational efficiencies and enhanced customer protections to the equity derivatives marketplace.
OCC plans to launch its OTC S&P 500(R) equity index option clearing services in the second quarter following the completion of testing with market participants.
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Source: OCC
Source and CSOP Asset Management File China A50 ETF
January 28, 2014--Source, an asset manager and one of the market leading European providers of Exchange Traded Products (ETPs), and CSOP Asset Management ("CSOP"), a leading Hong Kong-provider of on-shore Chinese exposure, have filed with the SEC to launch a fund providing exposure to shares in Chinese companies.
The ETF will aim to track the performance of the FTSE China A50 Index, which comprises the top 50 companies in mainland China. The index is a recognised benchmark for 'A shares' and has been calculated by FTSE since 2003. The intention of Source and CSOP to enter the US ETF market follows a similar, successful, co-operation in Europe.
In Europe, Source offers market leading equity, fixed income, commodity and alternative market exposure through expertly engineered Exchange Traded Funds (ETFs) and Exchange Traded Commodities (ETCs).
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Source: Source
SEC Approves Listing Options on Nations VolDex(R)
ISE and ISE Gemini will be the First Exchanges to List Options on Nations VolDex
January 28, 2014--International Securities Exchange Holdings, Inc. (ISE Holdings) today announced that the SEC has approved listing options on the Nations VolDex(R) Index (ticker: VOLI).
The Nations VolDex measures implied volatility by focusing on at-the-money options while also offering an alternative gauge of volatility. ISE Holdings' two options exchanges, ISE and ISE Gemini, are the first options exchanges to enter into a licensing agreement with NationsShares(R) to list options on the Nations VolDex. The exchanges plan to list options on VolDex later this year.
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Source: ISE
Launch BlueStar Israeli BIGTech Index
January 28, 2014--ISE ETF Ventures announced today the expansion of its partnership with BlueStar Indexes, a provider of Israeli-focused investment research, by launching the jointly developed BlueStar Israel Global Technology Index, "BIGTech" (Ticker: BGTH).
BIGTech provides a benchmark for investors interested in tracking the broadest and deepest universe of Israeli technology-focused public companies, irrespective of listing venue. BIGTech was also licensed to KSM Sal Indices Certificates Ltd. of Israel as the basis for a new mutual fund.; ISE ETF Ventures signed a separate agreement last year with KSM to license the ISE Water Index for the KSM Water Fund. This is the second index launched through the BlueStar partnership, with the first being the BlueStar Israel Global Index, "BIGI" (ticker: BLS), which launched in June 2013.
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Source: ISE ( International Securities Exchange )
ISE Gemini(TM) Surpasses 750,000 Contracts in a Trading Day
January 27, 2014--ISE GeminiTM today announced that it surpassed 750,000 contracts for the first time (actual: 852,184 contracts) in a single day.
Through January 2014, ISE Gemini has an average daily volume (ADV) of 565,730 and an overall equity options market share of 3.5 percent, excluding dividend trades.
"We are very pleased with ISE Gemini's strong performance and consistent level of growth both in market share and listed classes,"" said Boris Ilyevsky, Managing Director of ISE's Options Exchanges. "We look forward to continued success as we introduce further enhancements to our market structure and trading system."
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Source: ISE
Horizons ETFs announces final valuation times for ETF closures
January 27, 2014--Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") has previously announced by way of a press release dated November 29, 2013, that certain exchange traded funds ("ETFs") will be terminated effective upon the close of business on Friday, January 31, 2014.
The ETFs being terminated (collectively, the "Terminated ETFs") are as follows:
Horizons BetaPro COMEX(R) Copper Bull Plus ETF
Ticker: HKU
Horizons BetaPro COMEX(R) Copper Bear Plus ETF
Ticker: HKD
Horizons Australian Dollar Currency ETF
Ticker: ASD
At the request of the Manager, the units of each of the Terminated ETFs will be delisted at the close of business on Tuesday, January 28, 2014 ("Delisting Date").
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Source: Horizons ETFs Management (Canada) Inc.
Pimco to Start 19 Actively Run ETFs as Gross Diversifies
January 27, 2014--Pacific Investment Management Co., the world's biggest bond manager, plans to start 19 actively managed exchange-traded funds as co-founder Bill Gross further diversifies the firm following Chief Executive Officer Mohamed El-Erian's resignation last week.
Pimco will more than triple its active ETF lineup by offering variations of mutual funds such as Pimco Income, Pimco Unconstrained Bond, Pimco Municipal Bond and several StocksPlus and IndexPlus products, according to regulatory filings with the Securities and Exchange Commission on Jan. 24. The StocksPlus funds attempt to beat the equity market with bonds and derivatives. IndexPlus funds use an untraditional benchmark that isn’t dominated by market capitalization.
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Source: Bloomberg
NYSE Liffe to Launch Futures on MSCI Factor Indices: Smart Beta Indices
January 27, 2014--IntercontinentalExchange Group (NYSE: ICE), the leading global network of exchanges and clearing houses, today announced that NYSE Liffe will expand its index derivatives franchise with the launch of futures based on MSCI Factor Indices.
NYSE Liffe expects to introduce the industry's first futures contracts on MSCI Equal Weighted Indices and MSCI Minimum Volatility Indices, on February 3, 2014 via Bclear, the Exchange’s wholesale facility.
The following new contracts will be available:
MSCI Emerging Market Minimum Volatility and Equal Weighted Futures
MSCI Europe Minimum Volatility and Equal Weighted Futures
MSCI USA Equal Weighted Futures
MSCI World Minimum Volatility and Equal Weighted Futures
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Source: ICE
