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Barclays Capital launches first iPath ETFs.

Byline: (Staff Writer)

Barclays Capital has launched the first European iPath Exchange Traded Notes (iPath ETNs). The iPath S&P 500 VIX Short-Term FuturesTM ETN and the iPath S&P 500 VIX Mid-Term FuturesTM ETN provide investors with exposure to volatility and are listed on the Frankfurt Stock Exchange (XETRA). The ETNs can be accessed by investors in the UK, Germany and Italy.

iPath ETNs were first launched by Barclays Capital in the US in 2006 and were designed to provide investors with convenient access to the returns of market benchmark indices, less an investor fee. The ETNs are senior, unsecured, unsubordinated debt securities linked to the performance of an underlying index. The first two iPath ETNs in Europe are linked to the S&P 500 VIX Futures Indices.

Uwe Becker, Head of Investor Solutions Europe at Barclays Capital said, "The iPath S&P 500 VIX Futures ETNs can allow investors to manage risk and hedge equity exposure. They have removed the need for investors to trade volatility through variance swaps or futures".

2009 CPI Financial. All rights reserved.

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Publication:CPI Financial
Date:Dec 10, 2009
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