SEOUL, Sept. 22 (Korea Bizwire) – The local exchange traded notes (ETNs) market has been luring an increasing amount of investment, with its turnover surpassing the 40 billion won (US$33.9 million) mark for the first time since its launch, the stock market operator said Tuesday.
The daily trading volume of ETNs reached a record 41.1 billion won on Monday, according to the Korea Exchange (KRX).
It was the first time the turnover of ETNs topped 40 billion won since they were launched in November last year.
Their record-breaking pace has been gaining speed in recent months, breaching the 20 billion won barrier last month and piercing the 40 billion plateau this month.
ETN is a type of debt security whose returns are based on the performance of various market benchmarks. Similar to bonds and exchange traded funds, ETNs are traded on the main exchange during normal trading hours.
After starting with 10, a total of 55 products are now listed on the bourse.
Their combined market capitalization rose to 1.46 trillion won as of Monday, trebling from 466.8 billion won at the end of last year, according to the KRX.