Americas ETP News
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Direxion Launches Japan-Focused Leveraged and Inverse ETFs
Both Bull and Bear Investors can Benefit from Japanese Equity Market Performance
June 26, 2013-- Direxion, a leader in alternative investment solutions, has launched two leveraged exchange-traded funds (ETFs) that track Japanese equity market performance.
The Direxion Daily Japan Bull 3X Shares (JPNL) seeks to generate daily investment results, before fees and expenses, of 300% of the performance of the MSCI Daily TR Net Japan USD Index. The Direxion Daily Japan Bear 3X Shares (JPNS) attempts to achieve daily investment results, before fees and expenses, of 300% of the inverse of the MSCI Daily TR Net Japan USD Index’s performance. The index is tied to the MSCI Japan Index, a free-float adjusted index designed to track the performance of Japanese company stocks listed on the Tokyo Stock Exchange, Osaka Stock Exchange, Nagoya Stock Exchange and JASDAQ.
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Source: Direxion
Market Vectors(R) Launches Israel ETF (ISRA)
Latest addition to Market Vectors' international ETF family provides
pure-play exposure to the Israeli equity market
June 26, 2013-- Market Vectors ETF Trust announced today that it has launched the Market Vectors Israel-traded fund (ETF) designed to provide investors with broad exposure to Israel's dynamic equity market.
"Israel is uniquely positioned to offer investors emerging market growth characteristics with a developed market approach to economic management," said Amrita Bagaria, ETF Product Manager with Market Vectors. "The country has a vibrant economy with broad sector representation. With that in mind, we have selected an index for ISRA that best represents the Israeli market and captures the full spectrum of economic growth potential."
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Source: Van Eck
Knight Capital Group and GETCO Announce Approvals of Merger at Respective Special Meetings
Regulatory approvals of merger received from FINRA and FCA
Currently scheduled closing date of July 1, 2013
Preliminary results of Knight stockholder cash/stock election
June 26, 2013--Knight Capital Group, Inc. (NYSE Euronext: KCG) ("Knight") and GETCO Holding Company, LLC ("GETCO") announced that at the special meetings held yesterday, the companies' respective stockholders and unitholders approved the adoption of the merger agreement dated as of December 19, 2012 and amended and restated as of April 15, 2013 among KCG Holdings, Inc. ("KCG") (formerly known as Knight Holdco, Inc.), Knight, GETCO, and the other parties thereto.
In addition, regulatory approvals required under the merger agreement were received from the Financial Industry Regulatory Authority (FINRA) and the UK's Financial Conduct Authority (FCA). The transaction, which remains subject to customary closing conditions, is currently scheduled to close on Monday, July 1, 2013.
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Source: Knight Capital Group
Horizons ETFs announces closure of ETF
June 25, 2013--Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. (the "Manager") announced today that they will be terminating the Horizons S&P/TSX 60 130/30(TM) Index ETF (the "Terminated ETF") effective at the close of business on Monday, August 26, 2013 (the "Termination Date").
The classes of the ETF being terminated are as follows:
Horizons S&P/TSX 60 130/30™ Index ETF
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Source: Horizons ETFs Management (Canada) Inc
DB-Synthetic Equity & Index Strategy-North America-US ETF Weekly Review-Market sell-off removed $48bn from US ETP assets
June 25, 2013--Global markets went on free fall following Bernanke's comments suggesting QE tapering. The US (S&P 500) fell by 2.11%; While, outside the US, the MSCI EAFE (in USD) and the MSCI EM (USD) dropped by 3.75% and 5.46%, respectively.
Moving on to other asset classes, the 10Y US Treasury Yield rose by 38 bps last week; while the DB Liquid Commodity Index was down by 3.29%. Similarly, the Agriculture sector (DB Diversified Agriculture Index), the WTI Crude Oil, Gold and Silver prices retreated by 0.24%, 4.25%, 6.78% and 8.91%, respectively. Last but not least, Volatility (VIX) rose by 10.2% during the same period.
The total US ETP flows from all products registered $4.22bn (-0.3% of AUM) of outflows during last week vs. $0.57bn (-0.0%) of outflows the previous week, setting the YTD weekly flows average at +$2.7bn (+$68.15bn YTD in total cash flows).
Equity, Fixed Income, and Commodity ETPs experienced flows of -$2.37bn(-0.21%), -$1.4bn (-0.53%) and -$0.62bn (-0.78%) last week vs. +$1.37bn (0.12%), -$1.69bn (-0.63%) and -$0.19bn (-0.24%) in the previous week, respectively.
Among US sectors, Consumer Discretionary (+$0.32bn, +3.6%) and Energy (+$0.14bn, +1.0%) received the top inflows, while Consumer Staples(-$0.60bn, -6.6%) and Utilities (-$0.44bn, -5.5%) experienced the largest outflows.
Top 3 ETPs & ETNs by inflows: XLF (+$0.5bn), EWZ (+$0.4bn), QQQ (+$0.4bn)
Top 3 ETPs & ETNs by outflows: SPY (-$2.6bn), VWO (-$1.3bn), IWM (-$0.9bn)
New Launch Calendar: high income, global short-term HY and Colombia
There were 3 new ETFs listed during last week on the NYSE Arca. The new products offer access to income, global short-term high yield bonds and the Colombian equity market.
Turnover Review: Floor activity rose by 30.5%
Total weekly turnover increased by 30.5% to $451.62bn vs. $346.01bn from the previous week; Furthermore, last week's turnover level was 67.5% over last year's weekly average. Equity, Fixed Income and Commodity ETPs turnover increased by $93.4bn (+30.7%), $5.2bn (+17.7%) and $6.6bn (+83.2%) during the same period, respectively.
Assets under Management (AUM) Review: assets dropped by 3.3%
Last week’s market sell-off removed $47.7bn (-3.3%) from US ETP assets. As of last Friday, US ETPs had accumulated an asset growth of 5.7% YTD. Assets for Equity, Fixed Income and Commodity ETPs moved -$36.2bn, -$6.0bn,-$5.6bn during last week, respectively.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy - North America
ISE ETF Ventures and NationsShares(R) Announce Agreement to License and List Options on the Nations VolDex(R) Index
Nations Volatility Index is a More Tradable Measure of Broad Market Volatility.
June 24, 2013--The International Securities Exchange (ISE) today announced that it is the first options exchange to enter into a licensing agreement with NationsShares(R), a leading developer of option-enhanced and option-based indexes, to list options on the Nations VolDex(R) index (ticker: VOLI).
The Nations VolDex measures broad market implied volatility by way of at-the-money SPY options.
"Working with NationsShares is an exciting opportunity for ISE to build upon our established presence in index-based product development," said Kris Monaco, Head of ISE ETF Ventures. "The Nations VolDex will provide market participants with a unique methodology, partly because it uses physically deliverable SPY options, which is different from other available implied volatility measures."
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Source: International Securities Exchange (ISE)
BNY Mellon to Extend Transition Management Services to Large Investment Management Companies Utilizing Outside Asset Managers
Will Provide Same Services Offered to Traditional Asset-Owner Clients Such as Pension Funds
June 24, 2013--BNY Mellon, the global leader in investment management and investment services, is expanding its transition management capabilities to serve large investment management companies that typically utilize outside firms to manage some or all of their investment strategies.
These large investment management companies may utilize networks of sub-advisors to manage investment companies registered under the Investment Company Act of 1940 (40 Act Funds).
BNY Mellon has been providing transition management services to pension funds, sovereign wealth funds, endowments, foundations and other institutional clients since 1983. Now it has formed a registered investment advisor so it can provide its comprehensive suite of services to the large investment management firms, such as insurance companies, that manage registered 40 Act Funds. It should be noted that registration with the U.S. Securities and Exchange Commission does not imply any approval or endorsement by the SEC.
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Source: BNY Mellon
Exchange Traded Concepts Delivers YieldShares High Income ETF (YYY) to Market
First YieldShares ETF Combines the Income Potential of Closed-End Funds with the Flexibility of an ETF
June 24, 2013--Exchange Traded Concepts, LLC ("ETC") announces the launch of the YieldShares High Income ETF (Ticker Symbol: YYY); the most recent exchange-traded fund to begin trading through the firm's accelerated, low-cost, private-label ETF platform.
The YieldShares High Income ETF will seek to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the ISE High IncomeTM Index (High Income Index). The High Income Index TM seeks to measure the performance of the top 30 U.S. exchange-listed closed-end funds (CEFs), as selected and ranked according to factors designed to result in a portfolio that produces high current income.
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Source: Exchange Traded Concepts, LLC
Schwab files with the SEC
June 24, 2013--Sxhwab has filed a post-effective amendment, registration statement with the SEC for the
Schwab U.S. REIT ETF TM.
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Source: SEC.gov
Horizons ETFs Management (USA) LLC Launches Horizons S&P 500(R) Covered Call ETF
Global ETF Innovator Offers Its First ETF in the U.S.
June 24, 2013--Horizons ETFs Management (USA) LLC ("Horizons USA"), a member of the Horizons ETFs Group, one of the largest collective families of ETFs in the world, announced that it has launched the Horizons S&P 500(R) Covered Call ETF ("HSPX"), an exchange traded fund (ETF) that uses an innovative covered call strategy designed to potentially generate additional income from the option-eligible stocks in the S&P 500(R), the most widely followed U.S. large-cap stock index.
The new ETF begins trading today on the New York Stock Exchange under the symbol HSPX (HSPX).
HSPX generally seeks to provide exposure to the performance of the S&P 500(R) Stock Covered Call Index (the "Underlying Index") and will make monthly distributions of dividend and call option income. Horizons USA has an exclusive agreement with Standard & Poor's to offer an ETF in the U.S. based on the Underlying Index.
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Source: Horizons Exchange Traded Funds Inc.
