Wednesday, 20 August 2014
Last updated 8 hours ago
Feb 11 2009 | 7:05am 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.
Who is investing in clean technology?
Find out, visit our sister publication
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note