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USCF collaborates with Auspice Capital on Canadian Crude Oil ETF


USCF has signed an agreement with Auspice Capital Advisors, Ltd. (Auspice), a Canadian based alternatives fund manager to develop an exchange-traded product providing exposure to Canadian crude oil. 

The new exchange-traded products will seek to track, in percentage terms, the price movements of the Canadian Crude Excess Return Index (CCIER), which was created by Auspice to mirror the returns investors would receive if they held an approximately three-month rolling fixed price position in the nearby Western Canadian Select futures contracts, including rolling and rebalancing. The CCIER is closely related to Auspice's Canadian Crude Index (CCI), a benchmark that provides a reference price for the bulk of the crude oil produced and traded in Canada (CDNCRUDE). Both are published and calculated by the New York Stock Exchange (NYSE).

"USCF is thrilled to be working with Auspice. They are an innovative and influential commodity player, located at the heart of Canada's oil industry. We immediately recognised their value proposition for Canadian crude oil and its importance to international energy trading," said John Love, President and CEO of USCF. "Canadian crude oil is a natural complement to our suite of oil funds, which include the U.S. benchmark (WTI) and the global benchmark (Brent)." USCF offers access to WTI via the United States Oil Fund (USO) and Brent via the United States Brent Oil Fund (BNO).

"The opportunity to work with USCF is exciting for Auspice and is positive for the global energy commodity marketplace," says Tim Pickering, Founder, and Chief Investment Officer of Auspice.  "Further developing investment access to the Canadian crude market, the largest foreign supply of oil to the United States and third largest oil reserve, underlies the importance of Canadian Oil in a global context and opens up opportunities for international investors and speculators in this previously physical wholesale market." 

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