New products and changes introduced over the last week include State Street Global Advisors’ changes to the SPDR lineup and rebalancing of the SSGA Gender Diversity Index. In addition, Commerzbank added AxiomXL’s platform for compliance.
Here are the latest developments of interest to advisors:
1) SSGA Changes SPDR Lineup, Rebalances Index
State Street Global Advisors has changed the name and index for its SPDR Russell Small Cap Completeness ETF (RSCO). It has been renamed the SPDR S&P 1000 ETF (SMD) and has begun tracking the S&P 1000 Index. Its annual gross expense ratio of 0.10% remains unchanged.
Also, the name of the SPDR S&P 500 Fossil Fuel Free ETF (SPYX) has been changed to SPDR S&P Fossil Fuel Reserves Free ETF, and the gross and net expense ratios have been changed for the SPDR Russell 2000 ETF (TWOK) from 0.12% to 0.10%.
SSGA also made annual rebalancing updates to the composition of the SSGA Gender Diversity Index. The top 10 companies added to the index as a result of the annual rebalance, according to index weighting, include Pfizer Inc., PepsiCo, 3M, Mastercard, Starbucks, DuPont, Biogen, Salesforce, Target and Kroger Co.
2) Commerzbank Adds AxiomXL
Regulatory reporting and risk management solutions firm AxiomXL is providing SEC 15c3-1 as well as other regulatory mandates such as the Financial and Operational Combined Uniform Single (FOCUS), Treasury International Capital (TIC), Off Balance Sheet reporting (OBS) and additional U.S. broker-dealer-based reports for Commerzbank.
The user-configurable platform enables business analysts to configure reporting logic without a requirement for traditional programming skills. In addition, AxiomSL’s platform interfaces with Commerzbank’s existing data sources, without any data conversion.