UBS launches 69 exchange-traded commodities in London

UBS Investment Bank has launched a range of 69 exchange-traded commodities on the London Stock Exchange (LSE).

The listing marks the first major issuance of ETCs by the bank in Europe, outside of Switzerland. The series of ETCs are designed to return the performance of the UBS Bloomberg Constant Maturity Commodity index (CMCI) and its sub-indices. The bank says the CMCI is the first benchmark index to diversify across commodities and maturities. The index and its sub-indices are denominated in US dollars, euros or sterling. The index comprises a basket of 26 commodities with a range of investment maturities for each individual commodity. It is weighted to reflect the relative importance ...