VelocityShares Debuts Its Lineup Of VIX ETNs

VelocityShares, a new firm run by former iPath executives, made its initial foray into the ETP industry on Tuesday by rolling out six notes linked to various VIX-related indexes. The new products include both funds that will go head-to-head with existing iPath ETNs as well as several first-to-market products, including funds offering daily leveraged exposure to benchmarks comprised of VIX futures contracts. The new VelocityShares offerings include the Inverse VIX Short Term ETN (XIV), Inverse VIX Medium Term ETN (ZIV), 2x Long VIX Short Term ETN (TVIX), 2x Long VIX Medium Term ETN (TVIZ), VIX Short Term ETN (VIIX), and VIX Medium Term ETN (VIIZ). Each of the new ETNs is a debt security issued by Credit Suisse. The CBOE Market Volatility Index, better known as the VIX, has long been a widely-followed benchmark used to gauge the market’s expectations for volatility in stock markets over the next 30 days. [...] Click here to read the original article on ETFdb.com.