ETF Securities Limited announced on November 13, 2017 that it will sell its European exchange-traded commodity, currency, and short-and-leveraged business to Wisdom Tree Investment, Inc. for approximately US$611 million. In more detail the business being sold comprises all the European operations (including staff members), excluding GO UCITS ETF Solutions—the ETF platform of ETF Securities. Even though the deal constitutes a definitive agreement, it is still subject to regulatory approval; both parties aim to close the transaction in first quarter 2018. The agreed terms for the deal contain US$253 million in cash and 30 million Wisdom Tree shares. The cash for the transaction is

In our prior articles we focused on ETNs’ definitions, tax treatment, and indicative value. In this article we look at their possible uses. The primary appeal and benefit of ETNs to most investors relates to the exposure they offer investors to nontraditional asset markets and classes. If the market price of an ETN closely correlates with its indicative value, ETNs offer retail and institutional investors an opportunity to gain exposure to markets that may otherwise be accessible only through derivatives or through securities that invest in derivative products. This is the most appealing aspect of ETNs: they offer investors both