NEW YORK, May 2 (Reuters) – The Securities and Exchange Commission on Tuesday approved a request to trade quadruple-leveraged exchange-traded funds, marking a first for the growing market for such products in the United States.
The request to list ForceShares Daily 4X US Market Futures Long Fund, under the ticker UP, and ForceShares Daily 4X US Market Futures Short Fund, under the ticker DOWN, was filed by Intercontinental Exchange Inc’s NYSE Arca exchange.
- Securities and Exchange Commission (Release No. 34–79201; File No. SR-NYSEArca-2016-120)
In the absence of certain stop measures represented by options on futures contracts obtained by a Fund, if the Benchmark moves 25% or more on a given trading day(s) in a direction adverse to a Fund’s holdings, a Fund’s investors would lose all of their money.
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