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The Markets April 21, 2011
Barclays Introduces Commodities ETNs
The new commodities are part of the iPath Exchange
Traded Notes (ETNs) series, linked to Barclays Capital Pure Beta Indices.
Reported by PLANADVISER staff
The iPath Pure Beta Commodity ETNs were created to give investors access to commodities while seeking to minimize the effects of distortions in the commodity markets, according to Barclays.
The iPath Pure Beta Commodity ETNs and their exchange tickers are:
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| iPath® Pure Beta S&P GSCI®-Weighted ETN (SBV) | |
2. | iPath® Pure Beta Broad Commodity ETN (BCM) | ||||||
3. | iPath® Pure Beta Crude Oil ETN (OLEM) | ||||||
4. | iPath® Pure Beta Agriculture ETN (DIRT) | ||||||
5. | iPath® Pure Beta Grains ETN (WEET) | ||||||
6. | iPath® Pure Beta Copper ETN (CUPM) | ||||||
7. | iPath® Pure Beta Nickel ETN (NINI) | ||||||
8. | iPath® Pure Beta Livestock ETN (LSTK) | ||||||
9. | iPath® Pure Beta Energy ETN (ONG) | ||||||
10. | iPath® Pure Beta Industrial Metals ETN (HEVY) | ||||||
11. | iPath® Pure Beta Sugar ETN (SGAR) | ||||||
12. | iPath® Pure Beta Softs ETN (GRWN) | ||||||
13. | iPath® Pure Beta Precious Metals ETN (BLNG) | ||||||
14. | iPath® Pure Beta Lead ETN (LEDD) | ||||||
15. | iPath® Pure Beta Cotton ETN (CTNN) | ||||||
16. | iPath® Pure Beta Coffee ETN (CAFE) | ||||||
17. | iPath® Pure Beta Cocoa ETN (CHOC) | ||||||
18. | iPath® Pure Beta Aluminum ETN (FOIL) |
The iPath Seasonal Natural Gas ETN began trading on the NYSE Arca as well.
Barclays Capital Pure Beta Indices were designed to provide a more representative measure of commodity market returns, the company reported. Unlike many commodity indices, which roll their exposure to the corresponding futures contract on a monthly basis in accordance with a pre-determined roll schedule, the Indices may roll into one of a number of futures contracts with varying expiration dates. Each Pure Beta index was constructed around the concept of providing the best proxy for the average price return of the front-year futures contracts for each commodity in the index while avoiding parts of the futures curve that are subject to persistent market distortions.
Prospectuses can be found on EDGAR, the SEC Web site at http://www.sec.gov, as well as on the product Web site at http://www.iPathETN.com.