Boost introduces Italy’s first triple leveraged and short silver ETPs

Nov 28th, 2013 | By | Category: Alternatives / Multi-Asset

Boost, a London-headquartered provider of short and leveraged exchange-traded products (ETPs), has listed two more products on Borsa Italiana, Italy’s main stock exchange.

Boost introduces Italy’s first triple leveraged and short silver ETPs

Hector McNeil (left) and Nik Bienkowski, Co-CEOs of Boost.

The new products, which provide triple leveraged long and short exposure to the price of silver, are linked to the performance of the Nasdaq Silver Index.

They are the Boost Silver 3x Short Daily ETP (3SIS) and the Boost Silver 3x Leverage Daily ETP (3SIL), and follow on from the provider’s successful listing of eight ETPs on the Milan-based exchange four weeks ago.

Boost has now listed ten ETPs on Borsa Italiana, bringing the firm’s total ETP listings to 54, including the provider’s UK products.

Short and leveraged ETFs/ETPs are popular in Italy, with rival providers already offering products with leverage factors of -1x, -2x and +2x. With the launch of Boost’s products, Italian investors now have local access to 3x short and 3x leveraged ETPs for the first time.

The products are designed to return 3x the daily movement, long or short, of the relevant benchmark index. For example, if the Nasdaq Silver Index rises by 1% on a particular day, then “3SIL” will rise by 3% and “3SIS” will fall by 3% (before fees and other adjustments). However, if the Nasdaq Silver Index falls by 1% then “3SIL” will fall by 3% and “3SIS” will rise by 3% (before fees and other adjustments).

Commenting on the listings, Nik Bienkowsk, Co-CEO of Boost, said: “Boost is very proud to be listing Italy’s first 3x short and 3x leverage silver ETCs on Borsa Italiana. The latest listing from Boost comes shortly after its successful listing of 8 ETPs on 31 October. Since then, Boost has taken approximately 6% market share in only a matter of weeks, with the Boost FTSE MIB 3x Short Daily ETP (3ITS) and Boost Natural Gas 3x Leverage Daily ETP (3NGL) being the most popular so far.”

He added: “Italian investors are very familiar with ETPs that track short and leverage daily returns. Hector [Hector McNeil, Co-CEO of Boost] and I assisted with the launch of Italy’s first ever short and leverage ETCs in 2008, and look forward to continuing our relationship with the Italian market.”

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