AirShares EU Carbon Allowances Exchange Traded Fund Lists on NYSE Arca
NEW YORK / PARIS . –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:
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