Barclays Bank has launched iPath Exchange Traded Notes (ETNs) platform in Canada with the cross-listing of seven iPath ETNs on Toronto Stock Exchange. The iPath ETNs are linked to equity volatility, currencies and the CBOE S&P 500 BuyWrite strategy.
The iPath ETNs are iPath S&P 500 VIX Mid-Term Futures ETN, iPath S&P 500 VIX Short-Term Futures ETN, iPath Optimized Currency Carry ETN, iPath JPY/USD Exchange Rate ETN, iPath GBP/USD Exchange Rate, iPath EUR/USD Exchange Rate ETN and iPath CBOE S&P 500 BuyWrite Index.
In addition to this cross-listing in Canada, Barclays Capital has launched iPath S&P 500 VIX short-term futures ETN and the iPath S&P 500 VIX mid-term futures ETN on the Frankfurt Stock Exchange (XETRA).
iPath ETNs are designed to provide investors with convenient access to the returns of market benchmarks, less investor fees. The ETNs are senior, unsecured, unsubordinated debt securities that trade in the secondary market during trading hours at market prices and may typically be redeemed in at least 50,000 units on a daily basis directly to Barclays.
Philippe El-Asmar, MD and head of investor solutions at Barclays Capital, said: “We are pleased to expand our iPath ETN platform in Canada. iPath ETNs have been tremendously successful in the US attracting over US$5 billion in market capitalization with over US$80 billion in volume traded since inception. Barclays has experienced tremendous growth in the Americas in recent years and this cross-listing underlines our commitment to the Canadian markets.”
