January 12, 2021
Banking ETFs are gaining slightly amid news that JPMorgan Chase, Goldman Sachs, and Citigroup were among the first major financial firms to halt political donations following the pro-Trump Capitol storming last week.
JPMorgan, the biggest U.S. bank by assets, is placing a hold on political action committee contributions for Republicans and Democrats for “at least” the next half a year, according to spokesman Steve O’Halloran, in order to evaluate changes to its political-donation strategies.
“The country is facing unprecedented health, economic and political crises,” said JPMorgan’s head of corporate responsibility Peter Scher. “The focus of business leaders, political leaders, civic leaders right now should be on governing and getting help to those who desperately need it most right now. There will be plenty of time for campaigning later.”
ETC Group and
BTCetc Bitcoin Exchange Traded Crypto is to list in Zurich on
SIX Swiss Exchange.
This will be the ETP’s second listing after it debuted on Deutsche Börse’s
Xetra platform with ticker
BTCE GY in June 2020.
The Swiss listing will be available to trade in three currencies: US dollars (USD), Swiss francs (CHF), and pound sterling (GBP).
BTCE is 100% physically backed and provides investors with a secure and transparent way to gain exposure to the largest cryptocurrency by market capitalization.
The product offers several potential advantages over investing directly in bitcoin. These include being traded on transparent, regulated markets; enabling investors to effectively contract-out the technical challenges of purchasing and storing bitcoin, and imparting an additional layer of liquidity in the form of on-exchange trading.
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Lucas Jackson/Reuters
In the past two decades, consumers have learned to love customization. Spotify playlists have supplanted CDs. Streaming video apps like Netflix are quickly doing the same to cable television. The question is whether this trend will hit the investment industry.
Small-time investors can always pick out a handful of individual stocks to bet on, of course. But for people looking for broad exposure, pre-packaged products such as mutual funds or exchange-traded funds (ETFs), have been basically the only game in town.
Chimera Capital ETF tops $13.6m in AUM in 6 months
ABU DHABI, January 11, 2021 Chimera Capital LLC, an Abu Dhabi-based asset management firm, said that its Chimera S&P UAE Shariah Exchange Traded Fund (ETF) has surpassed AED 50 million ($13.6 million) in assets under management (AUM). Listed just six months ago in August 2020 on the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market(DFM), the Chimera S&P UAE Shariah ETF– which tracks the S&P UAE Domestic Shariah Liquid 35/20 Capped Index (Bloomberg: SPSHDAAN) - now ranks as the third largest ETF listed in the Mena region. The Chimera S&P UAE Shariah ETF’s popularity is further supported by investors seeking to capitalise on the prospects of the UAE s economy, who have benefited from the ETF’s performance in the first six months, with Net Asset Value increasing by over 19% for both ETF share classes.
U.S. Banks Delist Hong Kong Derivatives Linked to Chinese Military GS, JPM and MS are removing products from the Hong Kong exchange derived from companies deemed to have ties to the Chinese military.
Jan 11, 2021 | 09:45 AM EST
Decisions in Washington are affecting the derivatives market here in Hong Kong, on the other side of the world. That s as U.S. investment banks scramble to comply with the restrictions slapped on Chinese companies in the dying days of the Trump administration.
In Hong Kong, Goldman Sachs (GS) , J.P. Morgan (JPM) and Morgan Stanley (MS) are in the process of delisting a combined 500 derivatives. The banks consider the products to fall afoul of the requirement for U.S. investors to cease buying the shares of 35 companies identified as having ties to the Chinese military.