The Royal Bank of Scotland has listed 10 exchange-traded commodities (ETCs) and five exchange-traded notes (ETNs) on the Xetra exchange in Germany.
Seven of the 10 ETCs track the performance of commodities indices within the Rogers International Commodity Index Enhanced range.
These underlying indices comprise futures contracts in Brent crude oil, WTI crude oil, natural gas, agricultural commodities, industrial metals, grains and oilseeds, as well as a basket of 37 commodities.
The indices use an optimised selection procedure involving a rollover effect, to mitigate potential negative roll yield impact. This rollover approach accounts for certain seasonal patterns and cycles associated with the individual commodities.
It also accounts for an average futures contract trading volume of at least $25m, as well as concurrent investment in futures contracts with different maturities.
The other three ETCs are designed to deliver the performance of S&P Goldman Sachs commodities indices, comprising futures contracts on Brent crude oil, WTI crude oil and natural gas.
In the ETN range, four of the notes return the performance of MSCI equity indices. These include the Frontier Markets Daily Net Total Return index, AC South East Asia Net Total Return USD index, Gulf Cooperation Council ex SA Top 50 Total Return USD index and the Daily Total Return Net Emerging Markets index.
RBS has also launched an ETN based on the CECE Composite index in euros, comprising Polish, Hungarian and Czech companies.
The Deutsche Boerse now has 171 ETCs, with a monthly trading volume averaging at €440, and 19 ETNs.
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