The American Stock Exchange announced that it has launched trading in the GreenHaven Continuous Commodity Index Fund (Amex: GCC), managed by GreenHaven Commodity Services, LLC.
GCC aims to track the performance of the Continuous Commodity Total Return Index, an equal weighted basket of 17 commodities (corn, wheat, soybeans, live cattle, lean hogs, gold, platinum, silver, copper, cocoa, coffee, sugar, cotton, orange juice, crude oil, heating oil and natural gas). Reuters America, LLC owns and calculates the Index.
“The American Stock Exchange is pleased to welcome and support GreenHaven as they enter the ETF marketplace,” said Scott Ebner, Senior Vice President of the Amex’s ETF marketplace. “GCC reflects a growing investor interest in commodity linked products.”
Ashmead Pringle, President of GreenHaven Commodity Services, LLC, stated, “Increasingly, many investors have concluded that commodities are an asset class that should be represented in a balanced portfolio. GCC can provide investors, both large and small, with broad commodity exposure in an efficient and low-cost way. The Continuous Commodity Index by Reuters has long been a benchmark of overall commodity prices. By tracking the index with long positions on U.S. futures exchanges, GCC will avoid the costs of owning physical commodities and minimize counterparty risk. Moreover, trading on Amex will provide shareholders with transparency and liquidity.”
Kellogg Capital Group, LLC is the specialist for GCC. -- www.amex.com
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