Bringing you live news and features since 2006 

Auspice Capital Advisors launches first ETF tied to Canadian crude oil

RELATED TOPICS​

Auspice Capital Advisors has launched the Canadian Crude Oil Index ETF, which has begun trading on the Toronto Stock Exchange under the ticker symbol "CCX". 

Auspice's Canadian Crude Oil Index ETF seeks to replicate, to the extent possible, the performance of the Canadian Crude Excess Return Index, which is designed to measure the performance of the Canadian crude oil market in an investable format.

"Canadian crude oil does not get its due on the world stage — it is a poorly visible commodity," says Tim Pickering, President and CIO, Auspice Capital Advisors. "Our Canadian Crude Oil Index ETF is the first of its kind in Canada and the first ETF launched under the Auspice brand name.  We are excited to offer an ETF that lets investors participate in the Canadian crude oil market in a pure way, rather than by buying the stocks of oil producers.  We believe that we are meeting significant demand for an easy to understand product linked to this highly sought after market."

The Canadian Crude Index (CCI) is a benchmark for oil that is produced in Canada. The CCI reference price is displayed in US dollars and represents a rolling three-month exposure, which is intended to improve liquidity, lower transaction costs and reduce the effect of contango and backwardation.

"The Canadian Crude Index gives investors a tool to better understand the price of Canadian crude that simply did not exist before," says Pickering. "West Texas Intermediate is not an accurate measure of the price of Canadian oil, yet is the one that is most commonly referenced in Canada.  This index is a transparent, liquid benchmark that may increase the number of investors participating in Canadian crude. By increasing transparency and participation in the commodity outside of the wholesale community, we hope that we are making a contribution to getting crude oil produced in Canada fair global awareness, transparency, and pricing. This benefits producers and Canada as a whole."

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Cryptocurrencies
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
Thomas Bonville, Clear Street
Just over a year ago, Thomas Bonville joined New York-based, prime brokerage Clear Street as managing director, head of derivative...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by