Citi launches 10-year Vix ETNs in the US
Citigroup Funding has launched exchange-traded notes (ETNs) based on the performance of its newly created Citi Volatility index.
"This underlying index is a close replication of the Vix index," says Oscar Loynaz, head of Americas structuring and packaging at Citi Cross Asset Group in New York. "We find investors wanting to have access to the Vix for two main reasons: as a hedge because of the negative correlation with the broad equity markets, or because they have a view on volatility as an
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