Bringing you live news and features since 2006 

VelocityShares launches LIBOR rate ETNs

RELATED TOPICS​

VelocityShares, a Janus Henderson Group has launched two new composite forward LIBOR rate linked Exchange Traded Notes (ETNs) – the VelocityShares Long LIBOR ETNs (ULBR) linked to the Janus Velocity Long LIBOR Index, and the VelocityShares Short LIBOR ETNs (DLBR) linked to the Janus Velocity Short LIBOR Index.

The ETNs are issued by Citigroup Global Markets Holdings Inc, and all payments due on the ETNs are guaranteed by Citigroup Inc.
 
ULBR is linked to the Janus Velocity Long LIBOR Index, which aims to approximate the daily performance of a hypothetical long investment in the composite forward LIBOR rate, as if the composite forward LIBOR rate itself were an asset that could be invested in. DLBR is linked to the Janus Velocity Short LIBOR Index, which aims to approximate the daily performance of a hypothetical short position in the composite forward LIBOR rate, as if the composite forward LIBOR rate itself were an asset that could be shorted. The composite forward LIBOR rate on each day is equal to the weighted average of the forward three-month US dollar LIBOR rates implied in the daily settlement prices of the next 8 quarterly Eurodollar futures contracts, where these contracts have a weighted average tenor of approximately one year.
 
“In today’s unique interest rate environment, many investors are looking for tools that can be used to manage interest rate risks, and we are very pleased to provide the first ETNs allowing them to do so with daily exposure to the composite forward LIBOR rate,” says Nick Cherney, Senior Vice President, Head of Exchange Traded Products for Janus Henderson.

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

Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
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...
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