Americas ETP News
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CFTC.gov Commitments of Traders Reports Update
July 9, 2012--The current reports for the week of July 3, 2012 are now available.
view updates
Source: CFTC.gov
SEC Approves Rules and Interpretations on Key Terms for Regulating Derivatives
July 9, 2012--The Securities and Exchange Commission late Friday took another step toward regulating the over-the-counter derivatives market by unanimously approving rules and interpretations for key definitions of certain derivative products.
The SEC rules and interpretations further define the terms “swap” and “security-based swap” and whether a particular instrument is a “swap” regulated by the Commodity Futures Trading Commission (CFTC) or a “security-based swap” regulated by the SEC. The SEC action also addresses “mixed swaps,” which are regulated by both agencies, and “security-based swap agreements,” which are regulated by the CFTC but over which the SEC has antifraud and other authority.
view the Final Rules and Interpretations
Source: SEC.gov
Passive performers beat active cousins
July 8, 2012--Managers of institutional US equity accounts have been fighting protracted battles on two business fronts.
One effort is struggling severely, as pension sponsors continue to pull US equity assets out of active management.
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Source: FT.com
BM&FBOVESPA:-Institutional investors lead participation in volume of index funds (ETFs) traded on the Exchange in June
July 6, 2012--Institutional investors led with a 34.89% participation of the total volume of index funds (ETFs) traded on the Exchange in June, followed by financial institutions (32.47%), foreign investors (20.19%), individuals (11.60%) and public and private companies (0.84%).
In June, shares of the iShares Ibovespa Index Fund were the most traded on BM&FBOVESPA. The BOVA11 ticker accounted for 95.4% of total volume of ETFs traded on the Exchange.
view the BM&FBOVESPA June Bulletin on ETF activities
Source: BM&FBOVESPA
CFTC's Division of Market Oversight Issues Letter to Market Participants Regarding Compliance with Large Trader Reporting System for Physical Commodity Swaps and Swaptions
Division to Provide Temporary No-Action Relief for Less than Fully Compliant Reporting of Positions Based on Ownership
July 6, 2012--The Commodity Futures Trading Commission's (CFTC) Division of Market Oversight (Division) issued a letter to market participants providing temporary no-action relief for less than fully compliant reporting of positions based on ownership under the CFTC's large trader reporting system for physical commodity swaps and swaptions.
This temporary relief is intended to provide sufficient time for the industry to transition to fully compliant reporting for positions based on ownership by July 27, 2012. As a condition of this relief, market participants must submit, by July 30, 2012, fully compliant reports dating back to July 2, 2012.
view the Staff No-Action Relief: Temporary No-Action Relief for Less Than Fully Compliant Reporting of Positions Based on Ownership
Source: CFTC.gov
IndexIQ files with the SEC
July 6, 2012--IndexIQ has filed a second and restated application for exemptive relief with the SEC for actively-managed ETFs.
view filing
Source: SEC.gov
IndexIQ Announces Changes to Its ETF Family
July 6, 2012--IndexIQ, a leading developer of index-based alternative investment solutions, today announced it plans to close the IQ South Korea Small Cap ETF (NYSE Arca: SKOR).
Assets in SKOR represent only approximately 1% of IndexIQ’s ETF assets.
The Board of Trustees of the IndexIQ ETF Trust approved the closures on July 3, 2012. The final day of trading on the NYSE Arca will be Friday, August 17, 2012. Shareholders who do not sell their fund shares by this date will have their shares automatically redeemed on August 22, 2012, the fund’s last day of operations.
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Source: Index IQ
OECD-The United States needs to foster education and innovation to keep its cutting edge
July 6, 2012--The United States should do more to foster innovation and provide more equitable access to high-quality education in order to maintain its status as the world's most vibrant and productive economy, according to OECD's latest Economic Survey of the United States.
Data from the Survey suggest the United States is losing its cutting edge in innovation. This affects prospects for long-term growth and for maintaining living standards. Productivity in the U.S. is still growing faster than in most other OECD countries but growth has slowed down since the 1970s. Also, U.S. companies are no longer more likely to innovate than companies in other OECD countries.
Particularly worrying is the performance in education, which is essential to provide workers with the skills necessary to become more productive and to adapt to technological change. Attainment in tertiary education stagnated over the past three decades while it grew significantly in almost every other OECD country. Today, 22 out of 30 OECD countries surveyed have more graduates in science and engineering among the 25 to 34 year old workers than the United States.
view the Overview of the Economic Survey of the United States 2012
Source: OECD
DB-Equity Research - North America-US ETF+ Monthly Directory:June 2012 ETPs
July 6, 2012--This document includes all US listed exchange-traded funds (ETFs) and exchangetraded vehicles (ETVs), plus a special section covering exchange-traded notes (ETNs).
The directory is organized by asset class and asset-class-related sub sections. Within each sub section it has also been sorted. For Equity and Fixed Income ETPs it is sorted by country (or sub region for regional products) in alphabetical order and by AUM in descending order, and for the other ETP asset classes it is sorted by sub sector in alphabetical order and by AUM in descending order. A number of key information points per product has been included in order to enable the reader to get an overview in their respective area of interest. Among the key numeric information we include avg. daily turnover, assets under management, and cash flows (all in $US). If you have any questions for any of the products listed, or any suggestions on how to improve the directory going forward, please do not hesitate to get in touch.
The following link will be available for 90 days. For more information, please click on the link for the full PDF.
If you have any trouble viewing the link, copy and paste the link in a browser. http://pull.db-gmresearch.com/p/395-DBB0/71014195/US_ETF+_Monthly_Directory.pdf
Source: Deutsche Bank-Equity Research-North America
US education plans see advantage in ETFs
July 5, 2012--Faced with shrinking contributions and shaky returns, 529 college-savings plans are dangling a new carrot to attract wary parents: exchange-traded funds.
The aim is to attract more investors by providing more diversification and extra protection from wild swings in the market.
Nebraska last month introduced four new ETFs in three of its 529 plans. One of New York's plans recently added six ETFs, while Nevada's Upromise 529 moved almost exclusively to ETFs and away from mutual funds, which still dominate the college-savings industry.
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Source: Financial News
