Daishin Securities, New Listing of Iron Ore Leverage ETN
'Daesin 2X Iron Ore Futures ETN(H)' Listed as One Type... Leveraged Investment Product on Iron Ore
Tracks Twice the Daily Fluctuation Rate of Iron Ore Futures Listed and Traded on SGX
[Asia Economy Reporter Song Hwajeong] Daishin Securities is strengthening its ETN lineup by launching one type of iron ore futures exchange-traded note (ETN).
Daishin Securities announced on the 2nd that it will newly list a leveraged ETN product for directional investment in iron ore futures called 'Daishin 2X Iron Ore Futures ETN(H)'.
Daishin 2X Iron Ore Futures ETN(H) is a product created reflecting expectations of demand recovery for iron ore ahead of the peak season in September and October. This product tracks twice the daily return of the iron ore futures 'iEdge SGX Iron Ore Futures Leverage (2X) Index (Total Return)' listed on the Singapore Exchange (SGX).
The maturity is 3 years, and an annual fee of 2.1% applies. This product is a currency-hedged type, so exchange rate fluctuations do not affect returns. Inquiries related to ETN products can be made at Daishin Securities Customer Satisfaction Center.
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Choi Dae-kyung, Head of Multi-Asset Management Division at Daishin Securities, said, “We planned this product to provide investors with various alternative investment options,” and added, “As iron ore prices have recently rebounded and volatility has increased, we hope investors can seize profit-making opportunities by utilizing the newly listed ETN.”
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