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Boost, a London-headquartered provider of short and leveraged exchange-traded products, has made an impressive debut on Borsa Italiana.
In the two weeks following their launch, the products have captured a significant portion of the exchange’s ETP trading volumes.
According to data published by Boost, the eight products traded €4.8 million in the week ending 15 November, representing a market share of 6.1% of the ETP segment of Borsa Italiana’s ETFPlus platform.
The provider’s most traded product was the Boost Natural Gas 3x Leverage Daily ETP (3NGL), with a traded value of €3.3 million, putting it in the exchange’s top ten most traded list for the week, followed by the Boost FTSE MIB 3x Short Daily ETP (3ITS).
Short and leveraged ETPs are extremely popular with Italian investors. During the same week, two of the top three equity ETFs traded on Borsa Italiana were short and leveraged ETFs, totalling 22% of ETF turnover. Similarly, nine of the top fifteen were short and leveraged ETPs, totalling 33% of ETP trading volumes.
Hector McNeil, Co-CEO of Boost, commented: “For the second week running Boost’s products have set the pace on the Borsa Italiana. All our recent listed products, most notably three times short and leverage ETPs tracking FTSE MIB and natural gas, have seen significant rises in trading volumes. This has also resulted in significant growth in assets under management…Boost is determined to become one of the key issuers and continue to add highly liquid and value added clients to Italian investors.”
Boost’s full line-up on Borsa Italiana is detailed below. Each of the products is designed to return 3x the daily movement, long or short, of their relevant benchmark index. For example, if the FTSE MIB rises by 1% on a particular day, then “3ITL” will rise by 3% and “3ITS” will fall by 3%. However, if the FTSE MIB falls by 1% then “3ITL” will fall by 3% and “3ITS” will rise by 3% (less fees and adjustments).
Boost FTSE MIB 3x Short Daily ETP (3ITS)
Boost FTSE MIB 3x Leverage Daily ETP (3ITL)
Boost ShortDAX 3x Daily ETP (3DES)
Boost LevDAX 3x Daily ETP (3DEL)
Boost EURO STOXX 50 3x Short Daily ETP (3EUS)
Boost EURO STOXX 50 3x Leverage Daily ETP (3EUL)
Boost Natural Gas 3x Short Daily ETP (3NGS)
Boost Natural Gas 3x Leverage Daily ETP (3NGL)
In addition to the products above, Boost offers a comprehensive suite of -1x, 2x, -2x, 3x and -3x ETPs on the London Stock Exchange.