Sunday, 3 May 2015
Last updated 1 day ago
Feb 11 2009 | 7:01am ET
XShares Advisors, which specialized in exchange-traded products, has launched the AirShares EU Carbon Allowances Fund (NYSE Arca: ASO), a pool of EU carbon credits.
The fund, which began trading early this year, bills itself as the only exchange-traded equity product providing access to the fast-growing EU carbon market.
AirShares holds unleveraged long positions in a portfolio of European Climate Exchange Carbon Financial Instrument Futures Contracts (ECX CFI Futures Contracts), each of which provides for delivery of 1,000 European Union Allowances (EUAs) on a specified date at a specified price.
As contracts approach their December expiration, AirShares sells them and replaces them with contracts with later expirations.
AirShares is a passively managed equity product and does not track an index. Although the futures contracts held by AirShares and most of its assets are denominated in euros, the shares trade in U.S. dollars. Government-issued EUAs represent approximately two-thirds of the world’s carbon market.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…