DB liquidates oil ETN
Deutsche Bank will close down one of its exchange-traded oil products amid an investigation by regulators into the need for tighter oversight of energy futures markets.
In a statement detailing the decision to redeem all outstanding PowerShares DB Crude Oil Double Long Exchange Traded Notes by September 9, the bank said: "Limitations imposed by the exchange on which Deutsche Bank manages the exposure of the Notes have resulted in a "regulatory event" as defined in the terms of the Notes, which has caused Deutsche Bank to redeem the Notes."
The US Commodity Futures Trading Commission (CFTC) has been examining the need for tighter regulation of futures markets for
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