First Barclays-Issued ETNs to List on NASDAQ
TAPR Provides Investors with Exposure to Rising U.S. Treasury Yields
NEW YORK, July 15, 2014 (GLOBE NEWSWIRE) -- NASDAQ OMX today announced that Barclays Bank PLC will list new exchange traded notes (ETNs), Barclays Inverse U.S. Treasury Composite ETNs (Nasdaq: TAPR ), on The NASDAQ Stock Market ® (NASDAQ ® ). TAPR will begin trading on NASDAQ today, July 15, 2014.
"TAPR expands and complements our existing range of fixed income ETNs, and offers investors a differentiated strategy to hedge against or benefit from rising U.S. dollar interest rates," said Ian Merrill, Head of ETNs Americas. "TAPR is also the first Barclays-issued ETN to be listed on NASDAQ."
The ETNs are designed to help investors position for rising U.S. dollar Treasury yields by tracking the Barclays Inverse U.S. Treasury Futures Composite Index™ (the "Index"). The Index employs a strategy that tracks the sum of the returns of periodically rebalanced synthetic short positions in equal face values of each of the 2-year, 5-year, 10-year, long-bond and ultra-long U.S. Treasury futures contracts.
"We are thrilled to embark on a closer partnership with Barclays and introduce their unique exchange traded products into one of the single largest pools of liquidity," said Dave LaValle, Head of Exchange Traded Product Listings at NASDAQ OMX. "As an operator of leading electronic trading venues in asset classes including cash equities and fixed income, we continue to facilitate various investment opportunities in these products."
NASDAQ OMX operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants which represent a full spectrum of investors. ETP issuers benefit from an end-to-end solution that provides ongoing product support at every level including index licensing, listings opportunities, data offerings and trading services. As a home to some of the world's most innovative ventures, NASDAQ OMX generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies ETPs.
About Barclays:
Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management with an extensive international presence in Europe, the Americas, Africa and Asia. Barclays' purpose is to help people achieve their ambitions – in the right way. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. Barclays offers premier investment banking products and services to its clients through Barclays Bank PLC. For more information, visit www.barclays.com
About NASDAQ OMX:
NASDAQ OMX (Nasdaq: NDAQ ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than 3,400 listed companies with a market value of over $8.5 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaqomx.com .
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
The Barclays Inverse U.S. Treasury Composite ETNs have not been passed on by NASDAQ OMX as to their legality or suitability, and are not issued or sold by NASDAQ OMX. NASDAQ OMX MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO BARCLAYS INVERSE U.S. TREASURY COMPOSITE ETNs.
Nothing contained herein should be construed as investment advice from NASDAQ OMX, either on behalf of a particular financial product or an overall investment strategy. NASDAQ OMX makes no recommendation to buy or sell any financial product or any representation about the financial condition of any company or fund. Investors should undertake their own due diligence and carefully evaluate financial products before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
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Barclays Media Contact: Mark Lance +1 (212) 412 1413 NASDAQ OMX Media Contact: Alexa Sugrue +1 (212) 231 5552
