Deutsche Bank has issued four exchange-traded notes designed to track the short and leveraged performance of the Deutsche Bank Liquid Commodity Index – Optimum Yield Agriculture, an index
Deutsche Bank has issued four exchange-traded notes designed to track the short and leveraged performance of the Deutsche Bank Liquid Commodity Index – Optimum Yield Agriculture, an index designed to reflect the price changes in a basket of corn, soybeans, sugar and wheat futures.
The four ETNs, the DB Agriculture Double Short ETN, DB Agriculture Double Long ETN, DB Agriculture Short ETN and DB Agriculture Long ETN, are traded on NYSE Arca, bringing to 47 the number of ETNS listed on the New York Stock Exchange’s electronic trading platform.
Deutsche says the ETNs are the first to offer investors cost-effective and convenient short or leveraged exposure to agricultural commodities, giving one or two times direct or short exposure to the performance of the agriculture index plus a monthly Treasury bill index return.
‘We are pleased to offer investors a simple way to take a short or leveraged view on the performance of agricultural commodities, especially in light of recent price fluctuations,’ says Kevin Rich, a managing director in Deutsche Bank’s global markets investment products group.
In February, Deutsche issued three gold ETNs linked to the Deutsche Bank Liquid Commodity Index – Optimum Yield Gold, which are also traded on NYSE Arca.
NYSE Arca’s 251 primary exchange-traded fund and 47 ETN listings account for 56 per cent of assets under management in such products in the US, a total of some USD609bn. Last year the market added 122 new ETFs and ETNs to its roster of primary listings, including a record 101 IPOs.
