Americas ETP News
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U.S. program to curb stock price swings triggered frequently
August 19, 2013--The roll-out of a new program to limit wild price swings in publicly traded securities triggered dozens of trading halts on Monday as highly illiquid names were phased into the program.
By the session's end, 48 exchange-traded products (ETPs) had been halted or paused on NYSE Arca, a unit of exchange operator NYSE Euronext, according to trading information provided by exchange operator Nasdaq OMX Group Inc.
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Source: Chicago Tribune
About 40 ETFs Are Halted During Volatility Brake Implementation
August 19, 2013--Trading was briefly halted today in about 40 exchange-traded funds and notes when the securities were added to a program aimed at curbing sudden price swings.
Most of the ETNs and ETFs trade so seldom that there probably wouldn’t have been any transactions even if they hadn’t been halted, data compiled by Bloomberg show. They were set off during implementation of the protocol known as limit up/limit down that pauses securities when bid-ask spreads become too wide, according to NYSE Euronext.
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Source: Bloomberg
ETFs hot on Dimensional's trail
BlackRock, Schwab, Northern Trust have new funds based on strategy, research
August 18, 2013--Exchange-traded-fund companies are following in the footsteps of financial adviser favorite Dimensional Fund Advisors Ltd. and building new products around academic research to offer investors a new way to beat the market.
BlackRock Inc.'s iShares, Charles Schwab Investment Management and Northern Trust Corp.'s FlexShares are among the firms that have recently launched ETFs based on investment factors such as value, profitability, size and momentum.
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Source: Investment News
Mutual Funds Use ETFs as a Shortcut
ETFs have become increasingly popular with all sorts of investors-including mutual fund managers. More than 100 mutual funds have 80% of their assets in ETFs, which are cheaper and more efficient to trade. So why are the mutual funds that invest in them more expensive?
August 17, 2013--File under: If you can't beat 'em, join 'em.
The popularity of the $1.5 trillion exchange-traded-fund industry is indisputable. But what's surprising is how popular ETFs have become with mutual-fund managers.
In fact, the past five years have seen the launch of about 100 funds that hold at least 80% of their assets in ETFs, according to Morningstar. And it's becoming more and more common for managers of conventional mutual funds to use ETFs here and there for "tactical" purposes.
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Source: Barron's
Regulators Issue Joint Staff Review of Firms' Business Continuity and Disaster Recovery Planning
August 16, 2013--The Commodity Futures Trading Commission's (CFTC) Division of Swap Dealer and Intermediary Oversight today joined the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in issuing a staff advisory on business continuity and disaster recovery planning.
The advisory follows a joint review by regulators in the aftermath of Hurricane Sandy, which caused widespread damage to Northeastern states and closed U.S. equity and options markets for two days in October 2012. The CFTC’s Division of Swap Dealer and Intermediary Oversight, the SEC’s Office of Compliance Inspections and Examinations (OCIE), and FINRA issued the advisory to encourage firms to review their business continuity plans so as to improve responses to and reduce recovery time after significant large-scale events.
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Source: CFTC.gov
CFTC.gov Commitments of Traders Reports Update
August 16, 2013--The current reports for the week of August 13, 2013 are now available.
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Source: CFTC.gov
Regulators Issue Joint Staff Review of Firms' Business Continuity and Disaster Recovery Planning
August 16, 2013--The Commodity Futures Trading Commission's (CFTC) Division of Swap Dealer and Intermediary Oversight today joined the Securities and Exchange Commission (SEC), and the Financial Industry Regulatory Authority (FINRA) in issuing a staff advisory on business continuity and disaster recovery planning.
The advisory follows a joint review by regulators in the aftermath of Hurricane Sandy, which caused widespread damage to Northeastern states and closed U.S. equity and options markets for two days in October 2012. The CFTC’s Division of Swap Dealer and Intermediary Oversight, the SEC’s Office of Compliance Inspections and Examinations (OCIE), and FINRA issued the advisory to encourage firms to review their business continuity plans so as to improve responses to and reduce recovery time after significant large-scale events.
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Source: CFTC.gov
Emerging Global Advisors Launches EGShares EM Dividend High Income ETF (Ticker: EMHD)
EGA and FTSE collaborate to design an index that targets high dividend yield
August 15, 2013-- Emerging Global Advisors (EGA) today launched the EGShares EM Dividend High Income ETF (Ticker: EMHD), an exchange-traded fund (ETF) designed for income-oriented investors.
EMHD tracks an index that has a dividend yield of 8.8%1 (as of 7/31/2013) and screens for emerging market (EM) companies that have consistently generated high income for their shareholders.
“The rise of emerging market-based multinationals has greatly expanded the number of companies with the capacity to sustain high dividend payments,” said Marten Hoekstra, CEO of EGA. “EMHD applies our firm’s emerging market expertise to create a high income solution that can provide investors with a global approach to diversifying income streams."
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Source: Emerging Global Advisors (EGA)
'Alternative' Investments Draw Flak
Investors Flock to New Risky Products, and Regulators Are Raising Concerns
August 15, 2013--Individual investors are pouring tens of billions of dollars into a new generation of complex investment products, and regulators are raising concerns that not all buyers understand the costs and risks.
Outside scrutiny is intensifying on securities firms' sales practices and whether so-called alternative products—ranging from certain types of mutual funds to vehicles that invest in highly indebted companies-are suitable for all of the Americans flocking to them.
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Source: Wall Street Journal
FTSE-linked ETFs reach 100 mark in North America
August 15, 2013--The number of exchange-traded funds (ETFs) tracking a FTSE benchmark in North America has passed 100, following a series of recent listings.
New York-based asset manager Emerging Global Advisors today listed the EGShares EM Dividend High Income ETF on NYSE Arca. The new fund tracks the FTSE Equal Weighted Emerging All Cap ex Taiwan Diversified Dividend Yield 50 Index. The listing follows the launch of two equity ETFs with Vanguard Investments Canada for which FTSE has licensed two indices: FTSE Canada All Cap Index and the FTSE Developed ex North America Index.
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Source: FTSE
