Barclays is making its iPath exchange traded notes (ETNs) available for daily redemption, as assets in its eight ETNs have surpassed $3 billion. This means that the firm’s asset levels have grown enough to affirm back-office costs of daily redemptions, reports Jesse Emspak for Investor’s Business Daily. Before, the ETNs could be redeemed weekly. The company’s ETNs also will become more liquid as this daily redemption is implemented. Going forward, future Barclays ETNs will include daily redemptions as well. ETNs are notes issued by banks where an investor is promised the index return after a set period. Unlike ETFs, ETNs are notes redeemed in cash, not baskets of stocks.
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