AirShares EU Carbon Allowances Exchange Traded Fund Lists on NYSE Arca
NEW YORK / PARIS , Dec. 15, 2008 –NYSE Euronext (NYX) today announced the listing of the AirSharesTM EU Carbon Allowances Exchange Traded Fund on NYSE Arca. The ETF began trading on NYSE Arca on Dec. 15 under the ticker symbol “ASO”.
The investment objective of the fund is to provide investors with investment results which correspond generally to the performance of a basket of exchange-traded futures contracts for EUAs. An EUA is an entitlement to emit one metric tonne, or ton, of carbon dioxide equivalent that is transferable under the EU ETS. The EU ETS is a "cap and trade" emissions trading program established by the European Union in furtherance of the joint commitment of its member states under the Kyoto Protocol to reduce their greenhouse gas emissions.
The fund will accomplish its objectives through investments in long positions in ICE Futures ECX Carbon Financial Instrument Futures Contracts ("ECX CFI Futures Contracts"). ECX CFI Futures Contracts have been developed by the European Climate Exchange (the "ECE") and are listed and admitted to trading on the London-based ICE Platform operated by ICE Futures. These contracts are standardized contractual instruments for futures on deliverable EUAs issued under the EU ETS. The fund may also invest in other EUA futures contracts expiring in December, including those that trade on other exchanges.
In December last year, NYSE Euronext launched BlueNext, a leading exchange for the EUA spot market.
BlueNext is the Paris-based environmental exchange with NYSE Euronext holding a 60% interest while the remaining 40% is held by Caisse des Dépôts. Over 67 million tonnes traded in November 2008 and a daily record of over 5.6 million tonnes was established on 11 December 2008 .
XShares Advisors LLC , a financial services company based in New York , serves as the sponsor and commodity pool operator of the fund. XShares Advisors LLC became registered as a commodity pool operator on March 25, 2008.
The funds prospectus and other fund information are available at the XShares Advisors website:
XShares Advisors LLC
XShares Group, Inc., a New York based financial services company, was founded in 2005 by Jeffrey Feldman and several experienced financial professionals. The company secured an exemptive order from the SEC to launch ETFs in November 2006. XShares Advisors, a wholly owned subsidiary of XShares Group, Inc., develops focused and innovative exchange traded funds. In 2007, XShares Advisors launched a series of ETFs covering the healthcare market and target-date investing.
Background on Exchange Traded products on NYSE Euronext:
NYSE Euronext operates the world's largest Exchange Traded Products (ETP) marketplace, the leading venue for Exchange Traded Funds (ETF), Notes (ETN), Vehicles (ETV) and Warrants and Certificates trading. NYSE Euronext's offering of Exchange Traded Products provides investors access to regulated listings as well as fast and innovative trading tools to access liquidity. NYSE Arca, NYSE Euronext's US market for ETFs, has 708 primary ETF and ETV listings. Additionally, NYSE Arca lists 85 ETNs, 244 Certificates, while trading all other eligible ETPs on an Unlisted Trading Privileges (UTP) basis. NYSE Euronext, the leading platform for listing and trading Exchange Traded Products in Europe , has 384 primary ETFs, 73 ETV listings, 1 ETN and lists a total of 17,221 Warrants and Certificates to date.
About NYSE Euronext
NYSE Euronext (NYX) is the world’s leading, most liquid and diverse exchange group. It offers a broad and growing array of financial products and services in cash equities, futures, options, exchange-traded products, bonds, market data, and commercial technology solutions, all designed to meet the evolving needs of issuers, investors and financial institutions. Spanning multiple asset classes and six countries, NYSE Euronext’s exchanges include the New York Stock Exchange, Liffe, Euronext and NYSE Arca. With more than 6,500 listed issues, more than any other exchange group, trading on NYSE Euronext’s equity markets represents more than one-third of the world's cash equities volume. NYSE Euronext also manages the leading European derivatives exchange by value of trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit www.nyx.com.