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Boost, a provider of short and leveraged exchange-traded products (ETPs), has celebrated its first year of trading on the London Stock Exchange (LSE).
Since making its debut on 6 December 2012 with the listing of the world’s first triple-leveraged long and short ETPs tracking the FTSE 100 index, the London-based firm has rolled out a total of 44 products on the exchange and expanded on to Milan’s Borsa Italiana.
The anniversary of the firm’s launch coincides with assets under management (AUM) hitting an all-time high, pushing above the $50 million mark for the first time.
During the past 12 months, the Boost ETP line-up has steadily gained traction with investors, with trading volumes reaching $162 million year to date.
Highlights over the year include a $57 million notional trade in its 3x short Euro Stoxx 50 ETP; record trading in Italy in its FTSE MIB and Nasdaq Natural Gas products; becoming registered for CPD credits; and the recent initiative with Interactive Investor to offer commission-free trading.
Nik Bienkowski, Co-CEO of Boost, commented: “We are very proud to successfully have launched Europe’s latest entrant in to the growing ETP market. With a view to providing an innovative ETP platform to Europe’s investors into the foreseeable future, Boost has built a secure, transparent and robust platform designed to withstand the demands of our investors. The recent rising trend in trading volumes and AUM is evidence of this. Given the performance of equity markets over the past fifteen months, we believe that short and leverage ETPs may become even more useful in 2014.”
Hector McNeil, the firm’s other Co-CEO, added: “It is not surprising that we are seeing some significant growth recently, with volumes up 380% since June, while Boost’s AUM hit an all-time high of $52m this week, up 100% in the past six weeks. When compared to other ways of gaining leverage or short exposure such as futures, options, CFDs, spread bets and structured products, short and leveraged ETFs and ETPs have some real benefits. Investors can’t lose more than their initial investment; they don’t need to complete complex derivative documentation; they trade on exchange with multiple market makers; and counterparty risk is managed through a robust and transparent collateral processes.”