Launch of Australia’s first oil ETF (ASX:OOO)
SYDNEY, 21 November 2011: BetaShares today announced the launch of the first oil exchange traded fund (ETF) on the Australian Securities Exchange –expanding the investment options available to Australian retail and institutional investors.
The ETF, which will trade under the ASX code “OOO”, aims to track the performance of the S&P GSCI Crude Oil Index.
The Index tracks the performance of West Texas Intermediate (“WTI”) crude oil futures traded on the New York Mercantile Exchange. WTI crude is a light, sweet crude oil which is a global pricing benchmark for the more than 160 internationally-traded crude oils.
For more information see press release.