GraniteShares ETPs – News / Questions & Answers

30 new ETPs will be available on Trading212 next week.
I will share with you the list and more information when it will be done.

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At least no one on this thread is jumping up and down saying all shorts are evil :rofl:

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Happy cake day @Dougal1984

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Happy cake day :partying_face::partying_face::partying_face:
@Dougal1984

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We are very happy to announce that GraniteShares added 3 new US Single Stock ETP.
Now available on Trading212 :partying_face: :partying_face:

GraniteShares 3x Long Palantir - 3LPA
GraniteShares 3x Short Palantir - 3SPA

GraniteShares 3x Long AMD - 3LAM
GraniteShares 3x Short AMD - 3SAM

GraniteShares 3x Long Moderna - 3LMO
GraniteShares 3x Short Moderna - 3SMO

There are listed in EUR on Euronext Paris

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We also created new ETP tracking French Stock.
I will do a separate message about it :slight_smile:

Here: French Stock ETP + VW

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Why are they all denominated in dollars and euros? Are £ versions coming out?

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Thank you for your question.
All Euronext Paris listed products are denominated in EUR only.
Euronext do not allow multi-currencies listing.

Will you be adding any £ in the foreseeable future

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Maybe, if we decide to cross-list these products on the LSE.
For now, we have not yet made a decision on this.

If there is a lot of request for it, for sure we will do it :slight_smile:

btw, are you speaking about the French underlying stocks?
or AMD, Palantir and Moderna?

All, I know all of the original US listed stock you have are in all 3 currencies so wondering why this hasn’t been applied to the newly listed ones. Tesla Nio etc all in £

As I told you, Euronext Paris did not allow multiple currencies listing.
These new products are listed on Euronext.

All previous products have been listed on the London Stock Exchange which allows multiple currencies listing.

If we want multiple currencies listed, we must cross list these new products on the LSE.

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Hi @MarcRAFFARD

What is happening to 3LTS? Today it’s -12,54%, but TSLA is only -1,93%. Shouldn’t 3LTS be 3x of the underlying, around -6% (and not 6x)? (there is no FX effect)

Source: Trading 212

Hi @RLX

Thanks for asking, it is due to the time difference.
Friday 3x ETP listed on LSE stopped quoting at European hours, then there is still few trading hours on the NYSE. If the price fall during that period of time, it will be reflected monday when LSE open.

So if the price fall by -2% between the closing of LSE and the closing of NYSE, monday start with a difference of -6%.

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Here with the chart, it will be better to understand.

The green square represent LSE hours of Friday on Tesla Stock
The orange square represent NYSE hours of Friday on Tesla Stock

(sorry, I made a mistake on my previous illustration because I did not change the time zone)

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image

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So its good for front buying/selling in the following trading day, but at what time does the price fully reflects the last close price? It opens at the “last close price” of the underlying asset or takes more time to reflect it, in LSE (or other exchange)?

Also the ETP price have to reflect the open price of GDRs/EDRs used as European underlying alternative/substitute.

E.g.
Open Price ETP = last close price of underlying asset’s stock + daily price of underlying asset’s GDRs/EDRs

or

Open Price ETP = daily price of underlying asset’s GDRs/EDRs (that already reflects the last close price of underlying asset’s stock)

I’m try to figuring out the pricing method of ETPs.

Having daily leveraged ETPs with relevant different trading times (+4.5h), they have a reduced trading window, although we know that the ETPs use GDRs/EDRs to value them when the primary listing market is close, we also know that the better bid/ask spreads and tracking is when the local exchanges are open, in case of US, between 14:30-21:00, meaning that the EU/UK listed ETPs are better employed between 14:30-16:30, only 2h to be fully employed as the ETPs reset daily.

PS: I didn’t follow Tesla on Friday.

In fact, the Friday evening move (after LSE closed) is integrated into the calculation of the value per ETP, which is done on Friday night (after the NYSE closes). As you know, each evening, the valuation of each ETPs is updated on the GraniteShares website. Please find more details here about the Value per ETP calculation: Value vs Price

So on Monday morning when the LSE opens, all market participants (including the market maker, Natixis) will use the last Value per ETP (done on Friday night) as reference.

And yes of course, all market participants will use the price moves of the European underlying alternative/substitute to trade and price the ETP before the NYSE opens.

Open price ETP = Value per ETP calculated on Friday night

The best solution for investors to avoid this could be to list GraniteShares ETPs on some MTF (multilateral trading facility) which are open 24/24h. GraniteShares already explored this solution but only a very few brokers are using those MTF.

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Curious, Tesla close last night, around +1%, today 3LTS is around +6% (the same extra difference of yesterday +6%).

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