REX Shares joins Bats with two ETF listings

May 3rd, 2016 | By | Category: Alternatives / Multi-Asset

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Stock exchange group Bats Global Markets has welcomed US-based exchange-traded funds provider REX Shares as a new issuer to the Bats ETF Marketplace with the launch of two new ETFs.

Bats welcomes REX Shares to the Bats ETF Marketplace

Laura Morrison, Senior Vice President, Global Head of Exchange Traded Products at Bats.

The REX VolMAXX Long VIX Weekly Futures Strategy ETF (VMAX) and the REX VolMAXX Inverse VIX Weekly Futures Strategy ETF (VMIN) began trading on 3 May 2016. VMAX provides investors with exposure to the VIX Index, also known as the ‘fear index’. VIX is a reference for the implied volatility of the S&P 500 Index, a broad-based reference for the large-cap US equity market. VMIN provides investors with inverse exposure to the VIX Index.

The long fund (VMAX) makes gains should the VIX spike upward while the inverse fund (VMIN) profits as the VIX falls. Both funds will be actively managed with the objective of being fully invested in VIX futures at all times.

These ETFs are the first products on the market that will provide exposure to the VIX weekly futures market which started trading in July 2015. Previous products have targeted the VIX monthly futures market. The shorter time horizon found with weekly VIX futures contracts should result in a higher correlation and beta to the true daily price of the VIX Index.

VMAX has a total expense ratio (TER) of 1.25% while VMIN has a TER of 1.45%.

“The team at REX Shares has deep experience in the ETF industry and a track record of creating ETFs that solve challenges faced by today’s investors,” said Laura Morrison, Senior Vice President, Global Head of Exchange Traded Products at Bats. “We’re thrilled to have their two new innovative products listed on the Bats ETF Marketplace and we look forward to a strong partnership.”

With the addition of REX Shares, there are now ten issuers with a combined 80 ETFs listed on The Bats ETF Marketplace.

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