Important Notice – Delisted notice of ETF products in US market (NYSE)

Dear Customers,

 

The following ETF products issued by Direxion will cease trading on the NYSE Arca, Inc. (“NYSE”) and will be closed to purchase by investors as of the close of regular trading on the NYSE on March 27, 2020 (the “Closing Date”) (US local time).  The Funds will not accept purchase orders after the Closing Date.

 

Investors may sell their holdings in the Fund prior to the Closing Date, and customary brokerage charges may apply to these transactions. However, from March 27, 2020 through April 06, 2020 (the “Liquidation Date”) (US local time) shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance that there will be a market for a Fund’s shares during this time period.

 

FUND

Ticker

Direxion Daily Russia Bear 3X Shares

RUSS

Direxion Daily Natural Gas Related Bull 3X Shares

GASL

Direxion Daily Natural Gas Related Bear 3X Shares

GASX

Direxion Daily MSCI Developed Markets Bear 3X Shares

DPK

Direxion Daily Mid Cap Bear 3X Shares

MIDZ

Direxion Daily Regional Banks Bear 3X Shares

WDRW

Direxion Daily MSCI European Financials Bull 2X Shares

EUFL

Direxion Daily Total Bond Market Bear 1X Shares

SAGG

 

 

The last day the following ETF products issued by ProShares will accept creation orders is March 27, 2020.  Trading in the funds will be halted prior to market open on March 30, 2020. Beginning on March 30, 2020, the funds will not be traded on their respective exchanges, and there will be no secondary market for the shares.

 

Pro Shares Trust

Ticker

Exchange

UltraPro Communication Services Select Sector

UCOM

NYSE Arca

UltraPro Short Communication Services Select Sector

SCOM

NYSE Arca

UltraPro Nasdaq Biotechnology

UBIO

NASDAQ

UltraPro Short Nasdaq Biotechnology

ZBIO

NASDAQ

UltraPro Financial Select Sector

FINU

NYSE Arca

UltraPro Short Financial Select Sector

FINZ

NYSE Arca

 

Pro Shares Trust II

Ticker

Exchange

UltraPro 3x Crude Oil ETF

OILU

NYSE Arca

UltraPro 3x Short Crude Oil ETF

OILD

NYSE Arca

 

You are advised to close all the positions (if any) of the above mentioned fund as soon as possible.

 

The original notifications issued by the Direxion and Proshares are enclosed for your reference.  This notice is extracted from the originals.  In the event of discrepancies between this version and the originals, the originals shall prevail.

 

Direxion announcement

ProShares announcement

 

CMB International Securities Limited

25 March 2020

 

Risk involved in trading L&I Products

Like ETFs, the risk of L&I Products can include counterparty risk, market risk, tracking errors, trading at discount or premium, and liquidity risk. In addition, investors should understand how the performance of L&I Products is likely to be affected when they are held for more than one trading day (compounding effect) as described previously.

 

For other risk factors, please refer to Risk disclosure .

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