Changes to Mitigate Volatility in HCSL and S&L CSL Securities
This calendar year has seen particularly high volatility in the price of crude oil futures contracts, including a period when the price of the May 2020 WTI Crude Oil futures contract went negative, and closed at a negative level price. The CSL and HCSL issuers have therefore been considering proposals to seek to mitigate some of the risk associated with extreme volatility for the benefit of Security Holders and to improve the stability and liquidity of certain classes of securities.
For full details of these proposals:
+ Circular for Short & Leveraged CSL Securities
+ Q&A for Short & Leveraged CSL Securities
+ Circular for HCSL Securities
+ Q&A for HCSL Securities