Fri, 14/12/2012 - 10:22
Stoxx has licensed the Euro Stoxx 50 Daily Leverage 3 and Euro Stoxx 50 Daily Short 3 indices to Boost ETP to serve as the underlying for two new exchange-traded products.
The Boost Euro Stoxx 50 3x Leverage Daily ETP and Boost Euro Stoxx 50 3x Short Daily ETP have been listed on the London Stock Exchange.
“The Euro Stoxx 50 Daily Leverage 3 and Daily Short 3 indices are part of Stoxx’s innovative strategy index offering,” says Hartmut Graf, chief executive officer, Stoxx. “These indices are aimed at sophisticated market participants who seek a triple leveraged exposure to Europe’s leading blue-chip index during bullish or bearish markets.”
“The indices will provide 3x short and 3x leveraged returns based on daily changes in the Euro Stoxx 50. The Euro Stoxx 50 is the leading European index and suits Boost’s requirement for liquid, transparent and blue-chip benchmarks for our new ETP platform,” says Nik Bienkowski (pictured), co-chief executive of Boost ETP. “Stoxx’ indices allow investors to take advantage of trading and hedging opportunities using the Euro Stoxx 50.”
The Euro Stoxx 50 Daily Leverage 3 Index is linked to the daily performance of the Euro Stoxx 50 Index in a triple leveraged way: for example, a positive performance of the Euro Stoxx 50 Index results in a triple positive performance of the Euro Stoxx 50 Daily Leverage 3 Index, and vice versa.
The Euro Stoxx 50 Daily Short 3 Index replicates a short investment strategy that is inversely linked to the daily performance of the Euro Stoxx 50 Index. For example, a negative performance of the blue-chip index results in a triple positive change of the performance of the Euro Stoxx 50 Daily Short 3 Index, and vice versa (not taking into account the additional positive effect from the financing term).
Both indices are calculated in euros and US dollars. Daily historical index values are available back to 31 December 1991. For the short indices, the cost of borrowing and the benefit of earning interest are positively taken into account, whereas refinancing costs slightly decreases the performance of leveraged indices.
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