Monday, 22 September 2014
Last updated 2 days 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.