Bats, a CBOE Holdings, Inc. (NASDAQ: CBOE) company today welcomed VelocityShares® branded ETNs to the Bats ETF Marketplace.
The VelocityShares 1x Long VSTOXX Futures ETN (Bats: EVIX) links Long Securities to the VSTOXX Short-Term Futures Investable Index (the “Long Investable Index”).
The Long Investable Index replicates the performance of a long position in [constant-maturity one-month forward, one-month implied volatilities on the underlying EURO STOXX 50® Index] taking into account the bid-ask spread in the roll procedure, which will reduce the value of the Long Securities.
The VelocityShares 1x Daily Inverse VSTOXX Futures ETN (EXIV) links Inverse Securities to the VSTOXX Short-Term Futures Inverse Investable Index (the “Inverse Investable Index”). The Inverse Investable Index replicates the performance of a short position in constant-maturity one-month forward, one-month implied volatilities on the underlying EURO STOXX 50® Index taking into account the bid-ask spread in the roll procedure and the daily reset costs, which will reduce the value of the Inverse Securities.
Laura Morrison, Bats
Laura Morrison, Senior Vice President, Global Head of Exchange-Traded Products at Bats, said:
Fascination with volatility as an asset class has never felt higher than it is now, and in packaging European volatility into exchange-traded products for the first time, VelocityShares is increasing investor access in a cost-competitive, and highly tax-efficient manner.
Year-to-date, Bats has welcomed 35 ETFs to its U.S. market. In the first quarter of 2017, Bats welcomed a total of 23 ETFs from eight issuers to the Bats ETF Marketplace, and year to date, has won 39% of all new U.S. ETF listings.
There are now 170 ETFs listed on Bats ETF Marketplace, from 32 different issuers.