- Supplementary listing and listing change
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In case of a supplementary listing, the requirements on the issuer, underlying index and liquidity provider must also be satisfied, but the limitation on issuance does not apply. It is to prevent an ETN from being traded at a price far from the underlying index when the ETN experiences a lack of liquidity as the liquidity provider’s holdings run out.
A listing change occurs if a stock’s name changes due to a change of the issuers name, or the issued quantity is changed due to investors’ demand for prepayment or a merger or split of ETN securities.