Global financial information services company Markit announced earlier this week that it would launch Markit ETF Services, a a package of products that includes an encyclopedia, trade data and ETF dividends. The encyclopedia is a global reference database of all 2,700 ETFs available worldwide, categorised by asset class, type, region and structure. The ETF Trade Data product will give daily composition data for a wide range of ETFs as well as their net asset value, assets under management, shares outstanding and cash levels while the ETF Dividends Service will provide dividend forecasts, previous and forecast dividend ex-dates, pay-dates and amounts for all US-listed ETFs.
MORGAN STANLEY SETS UP LENDING BOOK
Morgan Stanley has just launched a lending book for European ETFs across multiple issuers. This new product aims to create greater liquidity and supply of ETFs for investors seeking to borrow these funds. It offers a create-to-lend process whereby the underlying’s stocks are borrowed and used to create new ETF shares. These can then be lent out to investors wanting to take short positions. The broker of the ETF passes through the underlying liquidity. Morgan Stanley said that the lack of supply of borrowable ETFs in Europe had been a source of frustration, particularly for those used to trading in the very liquid US ETF market.
FREE RBS COVERED WARRANTS SEMINAR
Listed-product provider RBS is hosting a free seminar tomorrow evening on how to get started with covered warrants. Designed for those investors new to covered warrants, expert Andrew McHattie will take the audience through what the product is and how to choose the right one. RBS’s Ben Board will then explore what is involved in trading a covered warrant. The seminar is from 5.30pm to 7pm and will be at RBS’s offices at 250 Bishopsgate. To register, visit http://ukmarkets.rbs.com.
ISHARES ISSUES ITS MSCI USA ETF
BlackRock’s ETF division iShares has just issued a new London-listed fund which has the MSCI USA as its underlying index. It is designed to complement iShares’ existing S&P 500 fund that is the largest US equity ETF in Europe by assets under management. IShares now has 30 UK-listed single-country ETFs and is the fourth single country fund to be launched this year, following the iShares MSCI Australia, Canada and South Africa funds in January.
ETFS SEES CURRENCY ASSETS JUMP
ETF Securities announced that its exchange-traded currencies platform saw assets under management jump 72 per cent last week to $120m with average weekly volumes up 177 per cent year-to-date.