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Commodity Securities and AIG – Update
22/09/08
- 88 ETCs backed by AIG now trading electronically on the LSE
- 25 ETCs still awaiting resumption in electronic trading
- 18 unaffected ETCs continue to trade normally on all 5 European Exchanges
ETF Securities Limited (“ETF Securities”) would like to update investors and all market participants regarding the Exchange Traded Commodities (ETCs) issued by ETFS Commodity Securities Limited (“ETFS Commodity Securities”) and which are backed by matching contracts from AIG Financial Products Corp. and guaranteed by American International Group, Inc (collectively “AIG”).
On Friday 19th September, the full suite of 66 Short and Leveraged Commodity Securities backed by AIG begun electronic trading on the London Stock Exchange (“LSE”).
As a result of the successful resumption of electronic trading in the Short and Leveraged Commodity Securities, the full suite of 13 Forward Commodity Securities and a portion of Classic Commodity Securities resumed electronic trading at 10.30am BST (UK time) on Monday 22nd September. In total, 88 ETCs backed by AIG have now resumed electronic trading on the LSE.
ETF Securities hopes that electronic trading on the LSE will resume in the remaining 25 Classic Commodity Securities as soon as possible.
AIG continues to honour all of its obligations under our agreements with them, including processing all creations and redemptions in the usual manner and paying all redemptions due on time.
ETF Securities will make further announcements in due course.
In the meantime trading and operations of all other ETCs administered by ETF Securities (including Oil Securities and Physical Metal Securities) are unaffected and continue to trade normally on all five European Exchanges.
Daily Conference Calls
ETF Securities will be hosting daily conference calls at 11am GMT (UK time) on each
weekday to discuss the current situation with regard to the ETCs issued by ETFS
Commodity Securities. For details, please see ETF Securities' website or Email
info@etfsecurities.com.
ETF Securities will continue to update investors and market participants via our website
(www.etfsecurities.com) and via the Regulatory News Service (RNS) if there is any
change to the situation.
The following ETCs are currently open for trading on the LSE:
| ETFS Leveraged Commodity Securities |
|
ETFS Short Commodity Securities |
|
| ETFS Leveraged Agriculture DJ-AIGCI |
LAGR |
ETFS Short Agriculture DJ-AIGCI |
SAGR |
| ETFS Leveraged All Commodities DJ-AIGCI |
LALL |
ETFS Short All Commodities DJ-AIGCI |
SALL |
| ETFS Leveraged Energy DJ-AIGCI |
LNRG |
ETFS Short Energy DJ-AIGCI |
SNRG |
| ETFS Leveraged Ex-Energy DJ-AIGCI |
LNEY |
ETFS Short Ex-Energy DJ-AIGCI |
SNEY |
| ETFS Leveraged Grains DJ-AIGCI |
LGRA |
ETFS Short Grains DJ-AIGCI |
SGRA |
| ETFS Leveraged Industrial Metals DJ-AIGCI |
LIME |
ETFS Short Industrial Metals DJ-AIGCI |
SIME |
| ETFS Leveraged Livestock DJ-AIGCI |
LLST |
ETFS Short Livestock DJ-AIGCI |
SLST |
| ETFS Leveraged Petroleum DJ-AIGCI |
LPET |
ETFS Short Petroleum DJ-AIGCI |
SPET |
| ETFS Leveraged Precious Metals DJ-AIGCI |
LPMT |
ETFS Short Precious Metals DJ-AIGCI |
SPMT |
| ETFS Leveraged Softs DJ-AIGCI |
LSFT |
ETFS Short Softs DJ-AIGCI |
SSFT |
| ETFS Leveraged Aluminium |
LALU |
ETFS Short Aluminium |
SALU |
| ETFS Leveraged Coffee |
LCFE |
ETFS Short Coffee |
SCFE |
| ETFS Leveraged Copper |
LCOP |
ETFS Short Copper |
SCOP |
| ETFS Leveraged Corn |
LCOR |
ETFS Short Corn |
SCOR |
| ETFS Leveraged Cotton |
LCTO |
ETFS Short Cotton |
SCTO |
| ETFS Leveraged Crude Oil |
LOIL |
ETFS Short Crude Oil |
SOIL |
| ETFS Leveraged Gasoline |
LGAS |
ETFS Short Gasoline |
SGAS |
| ETFS Leveraged Gold |
LBUL |
ETFS Short Gold |
SBUL |
| ETFS Leveraged Heating Oil |
LHEA |
ETFS Short Heating Oil |
SHEA |
| ETFS Leveraged Lean Hogs |
LLHO |
ETFS Short Lean Hogs |
SLHO |
| ETFS Leveraged Live Cattle |
LLCT |
ETFS Short Live Cattle |
SLCT |
| ETFS Leveraged Natural Gas |
LNGA |
ETFS Short Natural Gas |
SNGA |
| ETFS Leveraged Nickel |
LNIK |
ETFS Short Nickel |
SNIK |
| ETFS Leveraged Silver |
LSIL |
ETFS Short Silver |
SSIL |
| ETFS Leveraged Soybean Oil |
LSYO |
ETFS Short Soybean Oil |
SSYO |
| ETFS Leveraged Soybeans |
LSOB |
ETFS Short Soybeans |
SSOB |
| ETFS Leveraged Sugar |
LSUG |
ETFS Short Sugar |
SSUG |
| ETFS Leveraged Wheat |
LWEA |
ETFS Short Wheat |
SWEA |
| ETFS Leveraged Zinc |
LZIC |
ETFS Short Zinc |
SZIC |
| ETFS Leveraged Lead |
LLEA |
ETFS Short Lead |
SLEA |
| ETFS Leveraged Platinum |
LPLA |
ETFS Short Platinum |
SPLA |
| ETFS Leveraged Tin |
LTIM |
ETFS Short Tin |
STIM |
| ETFS Leveraged Cocoa |
LCOC |
ETFS Short Cocoa |
SCOC |
| ETFS Classic Commodity Securities |
|
ETFS Forward Commodity Securities |
|
| ETFS All Commodities £ DJ-AIGCI |
AGCP |
ETFS Forward All Commodities DJ-AIGCI-F3 |
FAIG |
| ETFS All Commodities DJ-AIGCI |
AIGC |
ETFS Forward Energy DJ-AIGCI-F3 |
ENEF |
| ETFS Energy DJ-AIGCI |
AIGE |
ETFS Forward Petroleum DJ-AIGCI-F3 |
FPET |
| ETFS Petroleum DJ-AIGCI |
AIGO |
ETFS Forward Ex-Energy DJ-AIGCI-F3 |
EXEF |
| ETFS Natural Gas £ |
NGSP |
ETFS Forward Industrial Metals DJAIGCI-F3 |
FIND |
| ETFS Natural Gas |
NGAS |
ETFS Forward Agriculture DJ-AIGCI-F3 |
FAGR |
| ETFS Crude Oil |
CRUD |
ETFS Forward Softs DJ-AIGCI-F3 |
SOFF |
| ETFS Gasoline |
UGAS |
ETFS Forward Livestock DJ-AIGCI-F3 |
FLIV |
| ETFS Heating Oil |
HEAT |
ETFS Forward Grains DJ-AIGCI-F3 |
GRAF |
| |
|
ETFS Forward Heating Oil |
HEAF |
| |
|
ETFS Forward Lean Hogs |
HOGF |
| |
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ETFS Forward Live Cattle |
CATF |
| |
|
ETFS Forward Natural Gas |
NGAF |
The following Classic ETCs remain suspended:
| ETFS Classic Commodity Securities |
|
| ETFS Agriculture £ DJ-AIGCI |
AGAP |
| ETFS Grains £ DJ-AIGCI |
AGGP |
| ETFS Gold £ |
BULP |
| ETFS Aluminium |
ALUM |
| ETFS Coffee |
COFF |
| ETFS Copper |
COPA |
| ETFS Corn |
CORN |
| ETFS Cotton |
COTN |
| ETFS Gold |
BULL |
| ETFS Lean Hogs |
HOGS |
| ETFS Live Cattle |
CATL |
| ETFS Nickel |
NICK |
| ETFS Silver |
SLVR |
| ETFS Soybean Oil |
SOYO |
| ETFS Soybeans |
SOYB |
| ETFS Sugar |
SUGA |
| ETFS Wheat |
WEAT |
| ETFS Zinc |
ZINC |
| ETFS Ex-Energy DJ-AIGCI |
AIGX |
| ETFS Precious Metals DJ-AIGCI |
AIGP |
| ETFS Industrial Metals DJ-AIGCI |
AIGI |
| ETFS Agriculture DJ-AIGCI |
AIGA |
| ETFS Softs DJ-AIGCI |
AIGS |
| ETFS Livestock DJ-AIGCI |
AIGL |
| ETFS Grains DJ-AIGCI |
AIGG |
The following Oil Securities and Physical Metal Securities are not backed by AIG and have not been affected. Trading and operations are continuing normally.
| ETFS Energy Securities |
|
ETFS (Physical) Metal Securities |
|
| ETFS Brent 1mth |
OILB |
ETFS Physical Gold |
PHAU |
| ETFS Brent 1mth £ |
OLBP |
ETFS Physical Gold £ |
PHGP |
| ETFS Brent 1yr |
OSB1 |
ETFS Physical Palladium |
PHPD |
| ETFS Brent 2yr |
OSB2 |
ETFS Physical Platinum |
PHPT |
| ETFS Brent 3yr |
OSB3 |
ETFS Physical PM Basket |
PHPM |
| ETFS WTI 2mth |
OILW |
ETFS Physical PM Basket £ |
PHPP |
| ETFS WTI 2mth £ |
OLWP |
ETFS Physical Silver |
PHAG |
| ETFS WTI 1yr |
OSW1 |
ETFS Physical Silver £ |
PHSP |
| ETFS WTI 2yr |
OSW2 |
| ETFS WTI 3yr |
OSW3 |
For further information, please contact:
Graham Tuckwell, Chairman, ETF Securities Ltd
Hector McNeil, Head of Sales, ETF Securities Ltd
Tel: +44 20 7448 4330
Press enquiries:
Roman Townsend, Penrose Financial
Tel: +44 20 7786 4875
This release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any transferable securities to be issued by the ETF Securities Limited group (“ETFS”), nor shall it or any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto. Any offer, invitation or solicitation shall be made solely by means of a prospectus and recipients of this release who are considering a purchase of securities are reminded that any such purchase should be made solely on the basis of the information contained in such prospectus and any supplementary prospectus(es). This release does not constitute any recommendation regarding the securities of ETFS.
The communication of this release is not being made by, and this release has not been approved by, an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000 (the “FSMA”). Accordingly this release is not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of this release or any other document issued in connection with the offer and sale of any ETCs is only being made to and directed at those persons in the United Kingdom falling within the definition of Investment Professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), or high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(1) of the Order or any person to whom it may otherwise lawfully be made (all such persons together being referred to as “relevant persons”). The communication of this release (or any other document issued in connection with the offer and sale of the ETCs) must not be acted upon or relied upon by persons who are not relevant persons. Persons distributing this release must satisfy themselves that it is lawful to do so. All applicable provisions of the FSMA must be complied with in respect of anything done in relation to the ETCs in, from or otherwise involving the United Kingdom.
This is not an offer of securities for sale in the United States. Securities issued by the ETFS group (“Securities”) have not been and will not be registered under the US Securities Act or any other applicable law of the United States. These Securities are being offered and sold only outside the United States to non-US persons in reliance on the exemption from registration provided by Regulation S of the US Securities Act. The Issuer has not been and does not intend to become registered as an investment company under the Investment Company Act and related rules. These Securities and any beneficial interest therein may not be reoffered, resold, pledged or otherwise transferred in the United States or to US persons. If the Issuer determines that any Security Holder is a Prohibited US Person (being a US Person who is not a "qualified purchaser" as defined in the Investment Company Act), the Issuer may redeem the Securities held by that Security Holder in accordance with the provisions described in the Prospectus. The Securities may not be purchased with plan assets of any "employee benefit plan" within the meaning of section 3(3) of the United States Employee Retirement Income Security Act of 1974, as amended ("ERISA"), any "plan" described in section 4975(e)(1) of the United States Internal Revenue Code of 1986, as amended (the "Code") or any entity whose underlying assets include "plan assets" of any of the foregoing by reason of an employee benefit plan's or other plan's investment in such entity, which employee benefit plan, plan or entity is subject to Title I of ERISA or section 4975 of the Code or any United States Federal, state, or local law or non-United States law that is substantially similar to the prohibited transaction provisions of section 406 of ERISA or section 4975 of the Code (any such employee benefit plan, plan or entity, a "Prohibited Benefit Plan Investor"). If the Issuer determines that any Security Holder is a Prohibited Benefit Plan Investor, the Issuer may redeem the Securities held by that Security Holder in accordance with the provisions described in the Prospectus relating to those Securities."
“Dow Jones,” “AIG®” “Dow Jones-AIG Commodity IndexSM,” “DJ-AIGCISM”, “Dow Jones-AIG Commodity 3-Month Forward Index” are service marks of Dow Jones & Company, Inc. and American International Group, Inc. (“American International Group”), as the case may be, and will be licensed for use for certain purposes by ETF Securities Ltd. ETCs based on the DJ-AIGCISM or related subindices (including single commodity sub-indices) or 3-Month Forward Indexes are not sponsored, endorsed, sold or promoted by Dow Jones, AIG Financial Products Corp. (“AIG-FP”), American International Group, or any of their respective subsidiaries or affiliates, and none of Dow Jones, AIGFP, American International Group, or any of their respective subsidiaries or affiliates, makes any representation regarding the advisability of investing in such product(s).
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