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[Alpha Biz=(Chicago) Reporter Kim Jisun] As ETN of NH Investment & Securities omitted the early liquidation requirement agreement in the investment manual, an absurd thing happened that the transaction was maintained even though it met the reasons for early liquidation and delisting.
According to the financial investment industry today (4th), all seven natural gas leverage ETNs issued by nine domestic securities companies, except Samsung Securities and NH Investment & Securities, have completed the early liquidation and delisting process or have been suspended ahead of the process.
Daishin Securities Co. and Korea Investment & Securities Co.'s natural gas leverage ETN were delisted on the 2nd, while the other five ETNs will also be delisted on the 7th. All of these stocks saw their real-time index value (iIV) fall below 1,000 won at the end of the market, causing the reason for early liquidation of ETN.
On the New York Mercantile Exchange, the price of natural gas delivery has plummeted from mid- to early $ 2 per 1MBtu (calorie unit) since late last month. As a result, the index value of leverage ETN also declined day after day.
However, Samsung Securities' Leveraged Natural Gas Futures ETN B barely avoided the requirement for early liquidation as its real-time index value remained above 1,000 won.
The problem is NH Investment Securities. NH Investment & Securities' "QV Bloomberg 2X natural gas futures ETN (H)" was not suspended from trading even though its real-time index value fell to the KRW 930 level when the market closed on the 2nd, meeting the reasons for early liquidation and delisting.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
