Moves in the oil futures market seen this week have forced WisdomTree to suspend and delist one of its oil exchange traded funds (ETFs) on Wednesday.
The price of West Texas Intermediate (WTI) oil went heavily negative earlier in the week, due to a lack of capacity for the physical delivery of oil to traders. The episode meant the swap underlying the WisdomTree WTI Crude Oil 3x Daily Short ETP was adversely affected, leading to its termination by swap provider BNP Paribas before European markets opened on Wednesday. The ETP is listed in London, Milan and Frankfurt. US oil price plummets to unprecedented levels: Is this the "new normal"? The termination was made in accordance with the severe overnight gap event (SOGE) provisions ...
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