Meritz Securities Launches Two WTI Crude Oil Futures Tracking ETNs

[Asia Economy Reporter Lee Seon-ae] Meritz Securities announced on the 27th that it has launched two exchange-traded notes (ETNs) tracking WTI crude oil futures listed on the New York Mercantile Exchange (NYMEX) in the United States.

The products are Meritz Bloomberg Leverage WTI Futures ETN(H) and Meritz Bloomberg Inverse 2X WTI Futures ETN(H), which respectively track 2 times and -2 times the daily returns of NYMEX WTI crude oil futures. These two newly listed ETNs are the first domestic WTI crude oil futures ETNs to use the Bloomberg Commodity (BCOM) Index, calculated by Bloomberg, as the underlying index.

Bloomberg provides reliable index solutions to issuers worldwide based on accurate data and advanced platforms.

Both Meritz Bloomberg WTI Futures ETNs are currency-hedged products, so they are not exposed to exchange rate fluctuation risks, and have a maturity of 3 years. The management fee is 0.55% per annum, which is the lowest level in the industry among WTI crude oil futures ETN products.

The company stated, “Recently, international oil prices have become more volatile due to economic sanctions following Russia’s invasion of Ukraine,” and added, “With this listing, investors will be able to conveniently invest in WTI crude oil futures products at a low management fee.”

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