The International Securities Exchange (ISE) today announced that UBS has launched the ETRACS Monthly 2xLeveraged ISE Cloud Computing Total Return Index ETN (Ticker: LSKY).
This exchange-traded note (ETN) is based on the ISE Cloud Computing Index, a benchmark that tracks companies actively involved in the cloud computing industry. Index components include companies that are infrastructure providers for the "cloud," firms that provide goods and services in support of the cloud computing space, or technology conglomerates whose business model uses or supports cloud computing technology. LSKY began trading on NYSE Arca on October 5, 2011.
"We are very pleased to again partner with UBS to develop and launch an innovative exchange-traded note," said Kris Monaco, Head of New Product Development at ISE. "The ISE Cloud Computing Index is a unique benchmark in this emerging industry, and this ETN provides investors with a compelling investment alternative for gaining leveraged exposure to this sector."
With this most recent product addition, UBS currently offers a portfolio of five ETNs based on ISE indexes. There are currently 16 exchange-traded products based on ISE's proprietary indexes, including 11 exchange-traded funds.