Tag Archives: PowerShares DWA Global Momentum Index ETF

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ETF News

ETF Momentum for Canada Exchange Aequitas NEO

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(TradersMagazine) The TSX is getting a run for its money. This week the Aequitas NEO Exchange (which only launched one year ago) signed its first listed security. Invesco Canada’s PowerShares DWA Global Momentum Index ETF, trading under the ticker DWG, took that honor and is also the first ETF listed on a Canadian exchange other than the TSX.

In a press release issued by the exchange, the company stated “DWG began trading on the NEO Exchange on Tuesday, March 22, 2016. The first week of trading was flawless and allowed market participants to confirm readiness. The quality of liquidity provision during these first days of trading was particularly notable.”

“Our first momentum-based ETF has been trading for over a week and we have been pleased with the early level of liquidity and investor interest,” said Chris Doll, Vice-President, Product & Business Strategy, PowerShares Canada. “We are very proud to celebrate this important milestone with the NEO Exchange. The idea of increasing competition in Canada makes perfect business sense to us. We are always looking for ways to be more efficient with our PowerShares ETF listings and we are strong believers in competition driving efficiency and innovation. As a shareholder, we have closely monitored the growth of the NEO Exchange since its launch, and with the development of our Global Momentum Index ETF, we determined the time was right to list on this new exchange.

About Aequitas NEO Exchange

The NEO Exchange is a new Canadian stock exchange using a bold new blueprint that puts investors, businesses looking to raise capital and dealers first. Launched in March 2015, the NEO Exchange currently offers an innovative trading venue and a value added listing venue for companies and investment products. Aequitas NEO Exchange Inc. is a wholly owned subsidiary of Aequitas Innovations Inc., a company founded by a diverse group of prominent investors representative of all Canadian capital market stakeholders. For more information, please visit www.aequitasneoexchange.com

 

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ETF News

Invesco Pushes Canada’s Neo Exchange Into ETF Listing War

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(Traders Magazine)- According to the ETF curators at MarketsMuse, “..If you’re going to dominate the ETF space, you should own your own exchange..” and with that,  Canada’s upstart Aequitas Neo Exchange has landed its first listed exchange traded fund in Canada – from mega money manager Invesco, whose Canada counterpart Invesco Canada is also an investor in Neo.

The new exchange, which launched in March 2015,  announced it has received its first listing application from PowerShares Canada. The Invesco-sponsored fund  has filed a preliminary prospectus with Canadian securities regulators for PowerShares DWA Global Momentum Index ETF, and applied to have the ETF listed on NEO.

According to NEO, this listing will be the first in a series of new listings expected on NEO in the coming months, demonstrating the

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Jos Schmitt, CEO

importance of competition to drive innovation and efficiency in the Canadian capital markets.

“With a shared vision of bringing competitive and innovative solutions to the Canadian capital markets, Invesco Canada is the perfect partner to kick off the listing business on NEO,” stated Jos Schmitt, President and Chief Executive Officer of NEO. “We have designed our listings offering to ensure we optimize the investor experience. We look forward to meeting the needs of companies and investment products who choose to list on NEO.”

“We have completed our due diligence on NEO’s operations, including its trading and market data business, and we are impressed with what we found,” added Peter Intraligi, President, Invesco Canada. “Through innovative and competitive investment products, we strive to give investors new opportunities to achieve their long-term financial goals. Invesco is a strong advocate of free market competition, as we believe it spurs innovation, which ultimately benefits investors.”

Invesco Canada has filed its preliminary prospectus containing important information relating to PowerShares DWA Global Momentum Index ETF with the securities regulatory authorities in each of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from Invesco Canada and are also available on www.sedar.com. There will not be any sale or acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

Invesco Canada is a shareholder of Aequitas Innovations Inc., the parent company of NEO. Peter Intraligi, President and Chief Operating Officer of Invesco Canada is a Director of Aequitas Innovations.

For the full story from Traders Mag, click here