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.
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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.
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Pro Shares Trust |
Ticker |
Exchange |
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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 .
