VelocityShares has launched a range of eight commodities-related Exchange Traded Notes (ETNs) on the NYSE Arca stock exchange.
The VelocityShares Crude Oil, Brent Crude, and Natural Gas ETNs represent the first suite of 3x leveraged long and 3x inverse energy-related exchange traded notes to be listed in the US.
The VelocityShares Copper ETNs represent the first 2x leveraged long and inverse copper exchange traded notes to be listed in the US.
The new ETNs are a response to demand for instruments to manage risk and express tactical views in the energy and metals markets.
The ETNs compliment the suite of eight precious metals ETNS that VelocityShares brought to market last October, and provide institutional investors a means of managing their energy and metals exposures and expressing market views.
“This launch further demonstrates our dedication to developing sophisticated exchange traded products for institutional investors,” says Nick Cherney, Co-founder and Chief Investment Officer of VelocityShares.
Credit Suisse AG is the issuer of the ETNs. VLS Securities LLC, a wholly-owned subsidiary of VelocityShares LLC, is marketing the ETNs.