NASDAQ OMX Lists Barclays Inverse U.S. Treasury Composite ETNs
July 15 2014 - 9:53AM
First Barclays-Issued ETNs to List on NASDAQ
TAPR Provides Investors with Exposure to Rising
U.S. Treasury Yields
NASDAQ OMX today announced that Barclays Bank PLC will list new
exchange traded notes (ETNs), Barclays Inverse U.S. Treasury
Composite ETNs (Nasdaq:TAPR), on The NASDAQ Stock Market®
(NASDAQ®). TAPR will begin trading on NASDAQ today, July 15,
2014.
"TAPR expands and complements our existing range of fixed income
ETNs, and offers investors a differentiated strategy to hedge
against or benefit from rising U.S. dollar interest rates," said
Ian Merrill, Head of ETNs Americas. "TAPR is also the first
Barclays-issued ETN to be listed on NASDAQ."
The ETNs are designed to help investors position for rising U.S.
dollar Treasury yields by tracking the Barclays Inverse U.S.
Treasury Futures Composite Index™ (the "Index"). The Index employs
a strategy that tracks the sum of the returns of periodically
rebalanced synthetic short positions in equal face values of each
of the 2-year, 5-year, 10-year, long-bond and ultra-long U.S.
Treasury futures contracts.
"We are thrilled to embark on a closer partnership with Barclays
and introduce their unique exchange traded products into one of the
single largest pools of liquidity," said Dave LaValle, Head of
Exchange Traded Product Listings at NASDAQ OMX. "As an operator of
leading electronic trading venues in asset classes including cash
equities and fixed income, we continue to facilitate various
investment opportunities in these products."
NASDAQ OMX operates an efficient platform for successfully
introducing a product suite into one of the single largest pools of
liquidity, including market participants which represent a full
spectrum of investors. ETP issuers benefit from an end-to-end
solution that provides ongoing product support at every level
including index licensing, listings opportunities, data offerings
and trading services. As a home to some of the world's most
innovative ventures, NASDAQ OMX generates opportunities for issuers
to access new markets and deliver new concepts that change the way
the industry develops, manages and applies ETPs.
About Barclays:
Barclays is a major global financial services provider engaged
in personal banking, credit cards, corporate and investment banking
and wealth and investment management with an extensive
international presence in Europe, the Americas, Africa and Asia.
Barclays' purpose is to help people achieve their ambitions – in
the right way. With over 300 years of history and expertise in
banking, Barclays operates in over 50 countries and employs
approximately 140,000 people. Barclays moves, lends, invests and
protects money for customers and clients worldwide. Barclays offers
premier investment banking products and services to its clients
through Barclays Bank PLC. For more information, visit
www.barclays.com
About NASDAQ OMX:
NASDAQ OMX (Nasdaq:NDAQ) is a leading provider of trading,
exchange technology, information and public company services across
six continents. Through its diverse portfolio of solutions, NASDAQ
OMX enables customers to plan, optimize and execute their business
vision with confidence, using proven technologies that provide
transparency and insight for navigating today's global capital
markets. As the creator of the world's first electronic stock
market, its technology powers more than 70 marketplaces in 50
countries, and 1 in 10 of the world's securities transactions.
NASDAQ OMX is home to more than 3,400 listed companies with a
market value of over $8.5 trillion and more than 10,000 corporate
clients. To learn more, visit www.nasdaqomx.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements
that are made under the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements about NASDAQ OMX and its
products and offerings. We caution that these statements are not
guarantees of future performance. Actual results may differ
materially from those expressed or implied in the forward-looking
statements. Forward-looking statements involve a number of risks,
uncertainties or other factors beyond NASDAQ OMX's control. These
factors include, but are not limited to factors detailed in NASDAQ
OMX's annual report on Form 10-K, and periodic reports filed with
the U.S. Securities and Exchange Commission. We undertake no
obligation to release any revisions to any forward-looking
statements.
The Barclays Inverse U.S. Treasury Composite ETNs have not been
passed on by NASDAQ OMX as to their legality or suitability, and
are not issued or sold by NASDAQ OMX. NASDAQ OMX MAKES NO
WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO BARCLAYS INVERSE
U.S. TREASURY COMPOSITE ETNs.
Nothing contained herein should be construed as investment
advice from NASDAQ OMX, either on behalf of a particular financial
product or an overall investment strategy. NASDAQ OMX makes no
recommendation to buy or sell any financial product or any
representation about the financial condition of any company or
fund. Investors should undertake their own due diligence and
carefully evaluate financial products before investing. ADVICE FROM
A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
NDAQG
CONTACT: Barclays Media Contact:
Mark Lance
+1 (212) 412 1413
Mark.Lane@barclays.com
NASDAQ OMX Media Contact:
Alexa Sugrue
+1 (212) 231 5552
Alexa.Sugrue@NASDAQOMX.com
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