Americas ETP News
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NASDAQ OMX and World Steel Exchange Marketing Announce Strategic Partnership
May 6, 2013--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), and World Steel Exchange Marketing, LLC (WSEM), founded by World Steel Dynamics (WSD) in 2009, today announced a strategic partnership to develop financially settled steel and steel scrap futures products to be traded on the NASDAQ OMX Futures Exchange, Inc. (NFX).
This strategic partnership will help the steel industry better manage steel price risk, with a world-class trading platform and a complement of steel futures products. The products are expected to launch in the fourth quarter of 2013 following filing with the Commodity Futures Trading Commission.
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Source: NASDAQ OMX
ISE Weekly Listings
May 3, 2013--The International Securities Exchange listed new options classes during the week beginning April 29, 2013 as described below.
Effective Thursday, May 2, 2013, the ISE will list options on the following product(s) along with their related symbol(s):
Bin 7-Timber Hill LLC Equity
CST Brands Inc. (Symbol: CST, Trading Symbol(s): CST) will trade on a March expiration cycle with exercise and position limits of 25000.
Source: International Securities Exchange (ISE)
Companies Add to Lineups of 'Free' ETFs
Still, trading commissions are only one cost, so other funds may be more attractive on balance
May 3, 2013--How attractive is "free"? Some of the largest online brokers of exchange-traded funds are determined to find out.
Two have recently expanded the lineups of ETFs they offer without trading commissions, bringing their menus closer to the size of their competitors'.
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Source: Wall Street Journal
CFTC.gov Commitments of Traders Reports Update
May 3, 2013--The current reports for the week of April 30, 2013 are now available.
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Source: CFTC.gov
CFTC's Division of Swap Dealer and Intermediary Oversight Issues Time-Limited No-Action Letter Providing Relief Surrounding Certain Foreign Exchange Transactions with a Settlement Cycle of No More than Seven Local Business Days
May 2, 2013--The Commodity Futures Trading Commission's (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a time-limited no-action letter that provides swap dealers and major swap participants with relief from compliance with External Business Conduct Standards
rules in connection with certain foreign exchange transactions that have a settlement cycle of no more than seven local business days.
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Source: CFTC.gov
'This is a big deal': Bloomberg entering online advice market
'BloombergBlack' offering aimed at mass affluent; 'others likely to copy it'
May 2, 2013--An 800-pound gorilla is wading into the market for online investment management and financial advice.
Bloomberg LP is quietly testing a "premium" wealth management service, BloombergBlack, aimed directly at the mass-affluent market. For $100 a month, users of BloombergBlack will have access to account aggregation, personalized investment advice, and financial and editorial content already being produced by Bloomberg.
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Source: Investment News
MAXIS(R) Nikkei 225 Index Fund named to Schwab ETF Select List(TM) for the second quarter of 2013
May 2, 2013--Precidian Funds LLC, a wholly-owned subsidiary of Precidian Investments LLC, is pleased to announce that that the MAXIS(R) Nikkei 225 Index Fund (NKY:NYSE Arca) has been selected to fill the Japan stock category on the Schwab ETF Select List for the second quarter of 2013.
The MAXIS(R) Nikkei 225 Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Japanese market, as measured by the Nikkei 225 Index.
"We are excited that Charles Schwab chose to add the MAXIS(R) Nikkei 225 Index Fund to their ETF Select List," stated Dan McCabe, Chief Executive Officer of Precidian Funds. "Given that Japan is the third-largest economy as measured by GDP, many U.S. investors are looking for ways to gain exposure to Japan so helping them find a cost-effective way to get access to Japan via such a well-recognized global equity benchmark makes sense," continued Mr. McCabe.
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Source: Wall Street Journal
Global X Funds Announces Reverse Splits For Six ETFs
May 2, 2013--Global X Funds, the New York based provider of exchange traded funds (ETFs), announced today that its Board of Trustees has approved reverse share splits for six of its ETFs.
The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined below.
The firm will execute a 1-for-4 reverse split of the shares of the Global X Gold Explorers ETF (GLDX) for shareholders of record after the close of the markets on Thursday, May 16, 2013.
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Source: Global X
Update to the 2013 Trends to Watch
May 2, 2013--May 2, 2013--Fund flows are clearly seeking Alpha in ETFs!
Year to date net inflows acording to XTF were about $65.29 billion at the end of April. This number is impressive on a number of levels.
First, the absolute amount puts the industry on a trend to exceed last year’s near $200 billion. Second, it has been broad based. Third, investor or ETF Strategist have clearly been embracing newer types of solution as evidenced by fund flows in low volatility solutions. Fourth, ETF flows into the Japanese market (DXJ and EWJ) at about $10 billion arguably reflect actions by the Bank of Japan who also has plans to use ETFs to stimulate its economy. However, what we see as most impressive is how the flows are starting to spread out beyond just the Top 50 or Top 100 Funds. Since December 31, 2012, AUMs in the Top 50 and 100 ETFs have declined from 69% and 82% of AUMs to 62% and 77%, respectively. Most impressive has been the fact that ETFs with AUMS of greater than $250 million in AUMs has increased from 180 to 417 ETFs and there has been nearly a tripling of the number of ETFs with AUMS between $250 million and $2 billion. [1]Lastly, we note that SPY and GLD, YTD have seen negative flows of $5.41 billion and $6.8 billion.
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Source: Forefront Capital
Chicago Board Options Exchange Reports System Issues
May 2, 2013--The Chicago Board Options Exchange suffered more system problems early Thursday that hit trading in some stock-options contracts, a week after severe technical issues closed its markets for more than three hours.
The latest problems saw around 300 classes of stock options hosted on an exchange "business cluster" run by the CBOE open 10 minutes late Thursday, after the exchange reported system issues ahead of the start of trading.
Some "spread" trading strategies were unavailable to traders until a few minutes after 10:00 a.m. ET, according to notices sent to traders by the exchange.
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Source: NASDAQ
