Americas ETP News
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CFTC.gov Commitments of Traders Reports Update
November 8, 2013--The current reports for the week of November 5, 2013 are now available.
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Source: CFTC.gov
Global X Funds Launches Next Emerging & Frontier ETF
November 7, 2013--Global X Funds, the New York-based provider of exchange-traded funds (ETFs), today launched the Global X Next Emerging & Frontier ETF (NYSE Arca: EMFM).
This new product will provide investors with access to 35 countries exhibiting high growth potential and favorable demographical trends that may stimulate their rise as economic powers. Importantly, the index does not include equities from the BRIC countries (Brazil, Russia, India, and China) and other, more advanced economies like South Korea or Taiwan.
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Source: Wall Street Journal
Why did Vanguard reverse-split a popular ETF?
November 7, 2013--Q: Why did Vanguard reverse-split a popular ETF?
A: Some Vanguard investors thought they hit the jackpot on Oct. 24. It appeared the shares of the Vanguard's popular Standard & Poor's 500 exchange traded fund doubled in value in one day.
According to the price quote for shares of the ETF, which trades under the symbol "VOO", it soared from $79.97 to $160.46. What actually happened with the ETF was far less exciting.
On Oct. 24, Vanguard did a somewhat unusual 1-for-2 reverse stock split of the its S&P 500 ETF. The stock price doubled because Vanguard reduced the number of shares outstanding by half.
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Source: USA Today
Investment-Grade ETF Uses Interest-Rate Hedge to Lure Investors
November 7, 2013--A new investment-grade bond exchange-traded fund from ProShare Advisors LLC is embedding interest-rate protection to accommodate investors who expect rates to rise as the Federal Reserve curbs its unprecedented stimulus.
U.S. government bond futures will be used to hedge against rising interest rates in the ProShares Investment Grade-Interest Rate Hedged ETF, which will aim for zero duration, Bethesda, Maryland-based ProShares said in a statement distributed by Business Wire today.
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Source: Bloomberg
WisdomTree Launches Korea Hedged Equity Fund (DXKW)
DXKW Seeks to Provide Exposure to Robust Korean Export Market and Help Reduce Overall Volatility of Local Currency
WisdomTree Expands Currency Hedged Equity Family of ETFs
November 7, 2013--WisdomTree (NASDAQ: WETF), an exchange-traded fund ('ETF") sponsor and asset manager, today announced the launch of the WisdomTree Korea Hedged Equity Fund (DXKW) on the NASDAQ Stock Market. DXKW seeks to provide exposure to Korean equity markets while hedging exposure to the won and has an expense ratio of 0.58%.
'Abenomics' and a Weak Yen -Headwind for South Korean Exporters
South Korea is a flourishing emerging economy, known for its shipping industry and exporting prowess, supplying the world with advanced technologies and automobiles from global leaders. In 2012, South Korea’s gross domestic production (GDP)1 was nearly twice that of many developed nations including Switzerland, Sweden and Norway, and almost 60% of the country's GDP was from exports.
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Source: WisdomTree
FactSet Adds Van Eck Market Vectors ETFs to Platform
November 7, 2013--FactSet, a leading provider of financial data and analytical software for investment professionals, today announced the integration of Van Eck's Market Vectors Exchange Traded Funds (ETFs) on the FactSet platform.
"Van Eck has always been a big proponent of making ETF and index data easily accessible and transparent and we’re delighted to provide FactSet users access to both return-and constituent-level data for Market Vectors ETFs and indices," says Ed Lopez, Marketing Director at Van Eck Global, sponsor of Market Vectors ETFs and parent company of Market Vectors Index Solutions GmbH.
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Source: FactSet
CME Group Announces Launch of Yen-Denominated Nikkei 225 Options
Options Will Reference Osaka Securities Exchange's Nikkei 225 Futures Contract
November 7, 2013--CME Group, the world's leading and most diverse derivatives marketplace, today announced the launch of options on CME's Yen-denominated Nikkei Stock Average futures.
CME Group will reference the Osaka Security Exchange's (OSE) Nikkei 225 (Yen) Futures contract in connection with these options contracts. These options contracts are listed with, and subject to, the rules and regulations of CME, and will be available for trading on CME Globex from January 13, 2014, pending CFTC review.
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Source: CME
BATS Exchange Welcomes ProShares ETF
ProShares Lists Fourth Exchange-Traded Fund on BATS Exchange
November 7, 2013--BATS Global Markets (BATS), a leading operator of securities markets in the U.S. and Europe, today announced that the ProShares Investment Grade-Interest Rate Hedged ETF (BATS: IGHG) will begin trading today on BATS Exchange under the ticker IGHG.
ProShares, a premier provider of alternative exchange-traded funds (ETF), will now have four exchange-traded funds listed on BATS Exchange. The ProShares Investment Grade-Interest Rate Hedged ETF is designed to track the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index, which is comprised of long positions in USD-denominated investment grade corporate bonds and short positions in U.S. Treasury notes or bonds of, in aggregate, approximate equivalent duration.
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Source: BATS
DB-Synthetic Equity & Index Strategy-North America-US ETF Market Monthly Review-ETP assets up by $75bn as investors' risk appetite grows
November 6, 2013--Data in this report is as of Thursday, October 31
US ETP assets higher by $75bn
ETP assets in the US rose by $74.9bn to $1.619 trillion (YTD +21.4%) last month. Global ETP industry assets closed at $2.193 trillion (YTD +19.2%)
Flows Review: investors keep loving equities
US ETPs experienced inflows of $25.9bn during October (+1.7% of last month's AUM).
Within long-only ETPs, total flows were +$26.3bn in October vs. +$32.4bn in September. Equity, Fixed Income, and Commodity long-only ETPs experienced flows of +$31.3bn, -$3.2bn and -$2.2bn, respectively.
Investors' appetite for risky assets remained strong during October. As already mentioned, Equity products remained the most attractive asset class by gathering $31.3bn in new cash last month for a total of +$158.9bn YTD (already 38% above the 2012 total figure for equities); within equities, attention was still centered in developed markets, with emphasis in US focused ETPs (+$19.4bn) and increasing momentum in DM ex US ETPs (+$8.3bn, their second largest monthly inflows on record), fueled by flows into broad regional benchmarked products (+$7.7bn). Meanwhile, in the Fixed Income space we saw investors pulling $5.0bn out of Sovereign debt ETPs and pouring cash into Corporate (+$2.0bn) products, specially into HY (+$2.4bn) focused ETPs; Short Duration (+$0.2bn) ETPs continued gathering new cash, however at a slower pace in the last month. Last but not least, Commodity ETPs, which have not received a single positive month thus far this year, ended October with $2.2bn (-$25.6bn YTD) in net redemptions.
New Launch Calendar: thirty new products covering three asset classes
October was a very busy month for new listings. There were twenty-eight new ETPs and two new ETNs listed during the previous month. Twenty-six of them were listed in the NYSE Arca, while the remaining two were listed in Nasdaq. The new products offer exposure to a broad variety of strategies covering multiple asset classes.
Turnover Review: Floor activity increased by 22.5% in October
ETP turnover totaled $1.448 trillion last month, 22.5% (+$265.8bn) higher than the previous month figure of $1.182 trillion, and 23.9% above last year's monthly average of $1.168 trillion. Equity ETPs turnover increased by $264.6bn (+25.5%); while Fixed Income and Commodity ETPs turnover decreased by $2.5bn (-2.8%) and $1.7bn (-3.6%), respectively.
ETP trading made up 26.6% of all US cash equity trading in October, down from this year's peak of 32.0% in June, and still below its 3-year monthly average of 28.1%.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-North America
New exchange-traded fund lets foreigners invest directly in shares listed in mainland China
November 6, 2013--Foreign investors looking to get access to China's onshore market will have a new avenue starting on Wednesday when Deutsche Asset & Wealth Management launches the first ETF with direct exposure to shares of companies listed on the mainland.
The db X-trackers Harvest CSI 300 China A-Shares Fund, set to trade under the ticker ASHR on the NYSE Arca exchange, will be the first exchange-traded fund to directly tap into the A-share market of Chinese stocks priced in yuan and traded in Shanghai and Shenzhen.
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Source: South China Morning Post
