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Rating:Has ProShares Learned from Its Amateur Glitch? Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 07, 2014

Has ProShares Learned from Its Amateur Glitch?

News summary by MFWire's editors

Oopsy.

We all know now, or should know, about the glitch ProShares experienced Friday that kept the firm temporarily from issuing new units of 11 ETFs.

The news caught the attention of a number of outlets, including SeekingAlpha, Bloomberg, Wall Street Journal and ETF.com.

Barron's Brendan Conway reports that ProShares declared that the glitch was the result of some problems in paperwork. The firm further declared that the issuance problem was resolved, but Conway writes that the paperwork problem itself must be resolved.

Such snags are a big deal because these ETFs are marketed as vehicles for traders to conduct hedges and other quick -- a big stress on quick -- and strategies like arbitraging.

The glitch, albeit temporary, probably put an annoying cramp in the style of some traders.

As ETFs grow more into the vehicle of choice for many traders, undoubtedly fund firms will come up with new tricks to remove future speed bumps.  

Edited by: Tommy Fernandez


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