Boost, a leading European provider of short and leveraged exchange-traded products, has launched Italy’s first triple-leveraged long and short copper ETPs and the country’s first ever short and leveraged palladium ETPs (of any leverage factor).
Boost has introduced Borsa Italiana’s first 3x short and leveraged copper ETPs and its first ever short leveraged palladium ETPs of any leveraged factor. (© Giovanni Dall’Orto).
The launch takes the total number of Boost ETP listings in Europe, across the London Stock Exchange, Borsa Italiana and Xetra, to 72.
Both metals – classified as industrial and platinum group metals respectively – have had a volatile year so far.
Copper’s volatile performance year to date was marked by the initial slowdown worries in China, underscored by a disappointing PMI reading during Q1 2014 that drove copper to fall by 11%. However, with more upbeat producer sentiment indicators coming through since, copper recovered by 6% in Q2. Since then, copper’s strong gains in the first few days of July have all been eroded by more downbeat sentiment on risk assets geared to China and commodities.
Palladium, meanwhile, has been one of the best performing commodities this year, underpinned by worries of a supply shortage stemming from sanctions against Russia and a prolonged miners’ strike in South Africa. Since 1 January 2014, palladium has risen by more than 20%, outperforming copper, gold and WTI crude oil.
Hector McNeil, Co-CEO of Boost, commented: “We are proud to be bringing another first to the Italian market with short and leverage ETPs providing access to 3x S&L copper and S&L palladium. Copper, often referred to as ‘Doctor Copper’, is seen as the bellwether for the global economic climate. Palladium is currently a very important precious metal, being widely used in catalytic converters to reduce emissions and thus helping to slow down global warming.”
He added: “Fortunes for both metals have been mixed this year and short and leverage ETPs are important tools in helping investors make returns in both rising and falling markets. With these new ETPs and more growth to come, BOOST is committed to investor demand and bringing unique products to the Italian market”.
Boost is a subsidiary of WisdomTree, a Nasdaq-listed provider of ETFs.
The four new listings are as follows:
Boost Copper 3x Leverage Daily ETP (3HCL)
Boost Copper 3x Short Daily ETP (3HCS)
Boost Palladium 1x Short Daily ETP (1PAS)
Boost Palladium 2x Leverage Daily ETP (2PAL)
They are linked to the relevant sub-index of the Nasdaq Commodity Benchmark Index.