Supplementary listing and listing change

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 takes place when the issuing company’s name and thus the name of listed ETN is changed, and when an investor asks for an early redemption, resulting in changes in issuance amount.

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