Deutsche Bank and Invesco PowerShares Capital Management have launched two new Exchange Traded Notes (ETNs), which are designed to provide triple long and triple short exposure to futures contracts on the US Dollar Index (USDX), an index designed to reflect the value of the US dollar compared with six of the world’s most traded currencies.
The ETNs will be listed for trading on the NYSE Arca as PowerShares DB 3x Long US Dollar Index Futures ETNs (3x Long ETNs) and PowerShares DB 3x Short US Dollar Index Futures ETNs (3x Short ETNs).
These ETNs expand upon Deutsche Banks popular PowerShares DB US Dollar Bullish Fund (UUP) and PowerShares DB US Dollar Bearish Fund (UDN), which are exchange traded funds that track the performance of the US dollar. The ETNs are the first exchange-traded products to provide investors with leveraged exposure to the USDX.
We are delighted to provide investors an opportunity to further benefit from Deutsche Banks industry-leading* foreign exchange platform through exchange-traded products, said Martin Kremenstein, a Director at Deutsche Bank. These ETNs provide investors additional ways to express a view on the US Dollar.
(LB)