
How Short & Leveraged ETPs Work
07 Mar, 2023 | GraniteShares
Available for trading on London Stock Exchange.
GraniteShares 3x Short Lloyds Banking Group Daily ETP is a collateralised, Exchange-Traded Product (ETP). The ETP tracks, excluding fees and other adjustments, the performance of the Solactive Daily Leveraged 3x Short Lloyds Banking Group PLC Index that seeks to provide -3 times the daily performance of Lloyds Banking Group plc shares.
For example, if Lloyds Banking Group plc rises by 1% over a day, then the ETP will fall by 3%, excluding fees and other adjustments. However, if Lloyds Banking Group plc falls by 1% over a day, then the ETP will rise by 3%, excluding fees and other adjustments.
Lloyds Banking Group (LSE: LLOY) is a British bank based in London, United Kingdom, whose origins date back to 1765. It is one of the "big five" banks in the UK (third-largest by assets) (encyclopedia). Its revenues come mainly from its retail and commercial banking activities. The bank has an international presence through its numerous subsidiaries.
Lloyds Banking Group's (LSE: LLOY) main competitors are HSBC, Barclays, NatWest.
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London Stock Exchange | GBX | 3SLL | XS2703639893 | BS3C8R1 |
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Collateralised ETP Securities are backed with collateral, subject to eligibility criteria, to protect investors in event of default. The amount of collateral posted by the Swap Counterparty is held and valued by an independent custodian in a segregated account and is adjusted daily and reflects the collateralised ETPs' change in value and in the outstanding number of securities. The Bank of New York Mellon SA/NV serves as the Swap Collateral Custodian.