In a recent speech, Federal Reserve Bank of Dallas president Richard Fisher aptly remarked, “Stock market metrics such as price to projected forward earnings, price-to-sales ratios and market capitalization as a percentage of GDP are at eye-popping levels not seen since the dot-com boom of the late 1990s.”
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Global X has brought to Cboe Global Markets an exchange-traded fund that seeks to generate returns for investors by executing a covered-call strategy for small-cap stocks. The Global X Russell 2000 Covered Call ETF is linked to the Cboe Russell 2000 BuyWrite Index. ETF (22 Apr.)
Japan Exchange Group and the Shanghai Stock Exchange have partnered to boost access to the Japanese and Chinese exchange-traded fund markets. Investors in each country will be able to put their cash into a "feeder" fund that will invest in an ETF focused on the other country's equity. Finance Magnates (22 Apr.)
Commodity Futures Trading Commission Chairman J. Christopher Giancarlo suggested that the regulatory issues facing cryptocurrency projects, like Intercontinental Exchange's proposed bitcoin futures exchange Bakkt, have to do with old protocols governing custody of assets. Giancarlo also noted that other clearinghouse participants might not "want the exposure to mutualize their risk on their interest rate or commodity futures with somebody else's cryptocurrency holdings." CoinDesk (UK) (22 Apr.)
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