Americas ETP News
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Europe bracing for US-style ETF shakeout
August 26, 2012--The current shakeout in the US exchange traded fund industry, which has seen several players scale back operations in recent weeks, could be a sign of things to come in Europe, according to industry experts.
Over the past month, a handful of players in the US have announced their retreat from the ETF business due to competitive forces and a failure to raise significant assets.
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Source: FT.com
Van Eck files with the SEC-Market Vectors Morningstar Long/Short Commodity ETF
August 24, 2012--Van Eck has filed a pre-effective wmendment no.1 form S-1 with the SEC for the
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Source: SEC.gov
ISE Weekly Listings- August 24, 2012
August 24, 2012--The International Securities Exchange listed new options classes during the week beginning August 6, 2012.
Effective Wednesday, August 22, 2012, the ISE will list options on the following product(s) along with their related symbol(s):
Bin 4 - Citadel Securities LLC Equity
Rentech Nitrogen Partners L.P. (Symbol: RNF, Trading Symbol(s): RNF) will trade on a January expiration cycle with exercise and position limits of 50000. Manchester United plc Cl A (Symbol: MANU, Trading Symbol(s): MANU) will trade on a March expiration cycle with exercise and position limits of 50000. Bloomin' Brands, Inc (Symbol: BLMN, Trading Symbol(s): BLMN) will trade on a January expiration cycle with exercise and position limits of 25000.
ETF
Teucrium Corn Fund (Symbol: CORN, Trading Symbol(s): CORN) will trade on a February expiration cycle with exercise and position limits of 25000.
Bin 10 - Morgan Stanley & Co. LLC
Equity
MannKind Corp. (Symbol: MNKD, Trading Symbol(s): MNKD) will trade on a February expiration cycle with exercise and position limits of 250000.
Source: International Securities Exchange (ISE)
CFTC.gov Commitments of Traders Reports Update
August 24, 2012--The current reports for the week of August 21, 2012 are now available.
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Source: CFTC.gov
Pimco Fund Expands Gold Holding on Outlook for Inflation
August 23, 2012--Pimco Commodity Real Return Strategy Fund has expanded its holding of gold as a hedge against inflation, anticipating further moves by central banks to spur economic growth, said Nic Johnson, the fund's manager.
The $20 billion fund increased its gold holdings to 11.5 percent of total assets from 10.5 percent two months ago, Johnson said today in a telephone interview from Newport Beach, California. The commodity fund is part of Pacific Investment Management Co., which also owns the world’s largest bond fund.
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Source: Bloomberg BusinessWeek
Itau Asset says Brazilians eyeing more foreign assets
August 23, 2012--A flagging outlook for hard commodity prices and rising state intervention are forcing Brazilian investors to step up the search for financial assets overseas, weighing on the nation's equity market, executives at Itaû Asset Management said in an interview.
A decline in interest rates to record lows is forcing funds to build a more diverse base of financial instruments to help lure new clients, Paulo Corchaki, who as chief investment officer oversees 307 billion reais ($152 billion) in assets for São Paulo-based Itaú Asset, told Reuters.
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Source: Reuters
NYSE Amex Options to Eliminate Position Limits for Options on SPY
Enhancing transparency, liquidity and competition in the U.S. Options market
August 23, 2012--NYSE Amex Options, one of NYSE Euronext's (NYX) two leading U.S. options exchanges, today announced that it has become the first exchange to file for and receive approval from the U.S. Securities and Exchange Commission (SEC) to eliminate position limits for options on the SPDR(R) S&P 500(R) Exchanged-Traded Fund ("SPY") on a fourteen-month pilot basis.
Designed to meet growing demand by options customers to trade the most active class of options, this pilot program is launching immediately. NYSE Amex Options is the only options exchange that does not charge customers a fee to trade SPY options.
“NYSE Amex Options is appreciative of the SEC’s decision to approve this important initiative, making us the first exchange to launch a pilot program that will provide greater transparency, competition, and liquidity in SPY options trading,” said Steve Crutchfield, CEO, NYSE Amex Options. “We already offer customers the ability to trade SPY options free of charge. And now, with no position limits on SPY options, we provide a lower-cost alternative to expensive proprietary index products for institutional investors. In today’s competitive environment, such an alternative can play a vital role in helping certain investors to better meet their investment needs.”
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Source: NYSE Euronext
Direxion Switches Indexes
August 23, 2012--Direxion Shares made changes to the underlying benchmark indices for eight leveraged and inverse exchange-traded funds, shifting from the Russell index universe to that of Standard & Poor's.
“We are very pleased to expand our relationship with Standard & Poor’s, whose market indices have long been among the leaders in the industry,” said Dan O’Neill Direxion’s president and chief investment officer. “We feel that these S&P indices provide our investors with the most recognizable exposure to these underlying markets.” Reflecting the changes, the Direxion Daily Large Cap Bull 3X Shares (BGU) was renamed the Direxion Daily S&P 500 Bull 3X Shares (SPXL) and the Direxion Daily Large Cap Bear 3X (BGZ) Shares was renamed the Direxion Daily S&P 500 Bear 3X Shares (SPXS).
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Source: Advisor One
Nasdaq proposing new class of Treasury options
New options would allow investors to wager on the movement in 10-year and 30-year Treasurys
Options expected to launch in the fourth quarter if SEC signs off
Contracts would make Nasdaq the only U.S. exchange operator offering options tied to U.S. government bonds
August 23, 2012--Nasdaq OMX Group Inc. plans to introduce a new class of option contracts on U.S. Treasury bonds by the end of the year, pending regulatory approval, the exchange operator was set to announce Thursday.
The new options, expected to launch in the fourth quarter if the Securities and Exchange Commission signs off, would allow investors to wager on the movement in 10-year and 30-year Treasurys. The contracts would make Nasdaq the only U.S. exchange operator offering options tied to U.S. government bonds.
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Source: Market Watch
ETFs Come and Go by the Dozen
August 23, 2012-College students sometimes amuse themselves by throwing JELL-O against the wall to see if it sticks.
In the 1990s, the exchange-traded fund (ETF) industry adopted a similar marketing strategy for new funds. Fund companies threw handfuls of new ETFs at the public all at once − with the hope that they would stick.
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Source: Forbes
