Boost ETP, an independent provider of leveraged and inverse exchange-traded products (ETPs), has listed ten exchange-traded commodities (ETCs) on the London Stock Exchange.
The launch follows hot on the heels of the listing of ten equity ETPs tracking leading stockmarket benchmarks for the UK, Germany, Europe and the US.
The UK-based provider has now launched 20 products since making its debut in the fourth quarter of 2012.
The new ETCs, which become the first products to be linked to Nasdaq OMX’s Nasdaq Commodity Index Family, provide leveraged long and short exposure to gold, silver, oil (WTI), natural gas and copper.
As with Boost’s existing equity ETP line-up, the new ETCs are designed to return 3x the daily movement, long or short, of the relevant benchmark index.
For example, if the Nasdaq Commodity Crude Oil index rises by 1% on a particular day, then Boost WTI Oil 3x Leverage Daily ETP (3OIL) will rise by 3% and Boost WTI Oil 3x Short Daily ETP (3OIS) will fall by 3%. Conversely, if the Nasdaq Commodity Crude Oil index falls by 1% then 3OIL will fall by 3% and 3OIS will rise by 3% (before fees and adjustments).
Commenting on the launch, Hector McNeill, Boost co-CEO, said: “The ten new 3x leveraged and 3x short ETCs are valuable additions to our platform, providing access to some of the most liquid commodity market benchmarks.”
He added: “We selected Nasdaq’s commodity indexes for these ETPs because they are well-constructed and based on objective and transparent methodology, characteristics that investors are demanding. The market for leveraged and short ETPs is growing and we will continue to collaborate with Nasdaq OMX to give investors the tools they need to potentially fulfil their investment objectives.”
John Jacobs, Head of Nasdaq OMX Global Index Group, said: “The roll-out of these ETPs is a significant milestone for Nasdaq OMX’s index business and our growing relationship with Boost ETP. We look forward to continuing to support our partnership and serving the needs of investors by creating indexes that track a variety of asset classes and regions.”
The new ETCs are:
Boost WTI Oil 3x Leverage Daily ETP | 3OIL |
Boost WTI Oil 3x Short Daily ETP | 3OIS |
Boost Gold 3x Leverage Daily ETP | 3GOL |
Boost Gold 3x Short Daily ETP | 3GOS |
Boost Copper 3x Leverage Daily ETP | 3HCL |
Boost Copper 3x Short Daily ETP | 3HCS |
Boost Natural Gas 3x Leverage Daily ETP | 3NGL |
Boost Natural Gas 3x Short Daily ETP | 3NGS |
Boost Silver 3x Leverage Daily ETP | 3SIL |
Boost Silver 3x Short Daily ETP | 3SIS |
The products each come with a management fee of 0.99% per annum.