Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:J.P. Morgan Defends Its Copper ETF Plans Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 06, 2012

J.P. Morgan Defends Its Copper ETF Plans

News summary by MFWire's editors

The J.P. Morgan [profile] team is defending a commodity ETF that hasn't even hit the market yet. Jack Farchy of the Financial Times reports that the mutual fund shop submitted a letter to the SEC saying that it "does not believe that [exchanged-traded vehicles] have a significant impact on price," in defense of the proposed J.P. Morgan physical copper ETF.

J.P. Morgan first proposed the JPM XF Physical Copper Trust almost two years ago. Yet as of July of this year, the SEC extended the consultation period and asked for more outside input on the proposed ETF [see the amended S-1]. That delay came even as U.S. industrial users of copper, at least one hedge fund trader and a U.S. senator all lined up to oppose it, worrying about an increase in the volatility of copper prices.

The FT argues that J.P. Morgan's defense of the proposed ETF is a contradiction with its older published views on commodity ETFs, like in November 2010 when J.P. Morgan wrote that ETFs could help drive up silver prices, or like in March 2012 when J.P. Morgan wrote that ETFs had helped crowd out other palladium buyers.

One analyst told the pub that "To say that ETF demand has no impact on the price is nonsense." 

Edited by: HFD


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use