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PRESS ROOM

BOOST launches Italy’s first 3x short and leverage copper and 1x short and 2x leverage palladium ETCs on Borsa Italiana

Thursday 24th July '14

  • Italy’s first 3x short and leverage (S&L) copper and 1x short and 2x leverage palladium ETCs 
  • Palladium one of the world’s best performing commodities, since the start of 2008
  • BOOST ETP AUM has reached a record high of $120m
  • Trading volumes in BOOST ETPs now total approximately $150 million per month
  • Global demand for S&L products continues to grow, with $60bn in AUM (June 2014) 

London, Thursday 24 July 2014: BOOST ETP, A WisdomTree Company and Europe’s award winning, specialist Short and Leverage (S&L) Exchange Traded Product (ETP) provider, is proud to announce that it has listed Italy’s first 3x S&L copper ETCs and the first S&L palladium ETCs. 
 
BOOST’s ETCs available on the Borsa Italiana today are: 

Product Name                                         ISIN Exchange      Code
Boost Copper 3x Leverage Daily ETP        IE00B8JVMZ80     3HCL
Boost Copper 3x Short Daily ETP             IE00B8KD3F05     3HCS
Boost Palladium 1x Short Daily ETP         IE00B94QLR02     1PAS
Boost Palladium 2x Leverage Daily ETP    IE00B94QLN63     2PAL
 
This brings BOOST ETP’s product range to a total of 72 listings on the London Stock Exchange, Borsa Italiana and Xetra.
 
Underpinned by worries of a supply shortage stemming from sanctions against Russia and a prolonged miners’ strike in South Africa, palladium has been one of the best performing commodities this year. Since 1 January 2014, palladium has risen by 23%, outperforming copper (which has fallen by 5%), gold (which has risen by 10%) and WTI crude oil (which has risen by 8%). This month (to 17 July 2014), palladium is up by 5%, while Boost Palladium 2x Leverage Daily ETP (2PAL) is up by 10%. 
 
Copper’s volatile performance this year was marked by the initial slowdown worries in China, underscored by a disappointing PMI reading during Q1 2014 that drove copper to fall by 11% (from 1 Jan to 31 Mar 2014). However, with more upbeat producer sentiment indicators coming through since, copper recovered by 6% in Q2. Since then, copper’s strong gains in the first few days of July have all been eroded by more downbeat sentiment on risk assets geared to China and commodities. Since its July peak on 4 July 2014, copper has fallen 1.8% (to 17 July 2014), helping Boost Copper 3x Short Daily ETPs to rise by 5.3% over the same period.
 
Hector McNeil, Co-CEO of BOOST ETP, A WisdomTree Company, commented:
 
“With BOOST ETPs’ market share recently growing to 23% of Borsa Italiana’s ETC market, we are proud to be bringing another first to the Italian market with short and leverage ETPs providing access to 3x S&L copper and S&L palladium. Copper, often referred to as ‘Doctor Copper’, is seen as the bellwether for the global economic climate. Palladium is currently a very important precious metal, being widely used in catalytic converters to reduce emissions and thus helping to slow down global warming. Fortunes for both metals have been mixed this year and S&L ETPs are important tools in helping investors make returns in both rising and falling markets. With these new ETPs and more growth to come, BOOST is committed to investor demand and bringing unique products to the Italian market”.