ETF Trends
ETF Trends

The Securities and Exchange Commission has approved a request for a quadruple-leveraged exchange traded fund, the first such ruling for a growing ETF market.

According to a recent SEC filing, ForceShares Daily 4X US Market Futures Long Fund, under the ticker UP, and ForceShares Daily 4X US Market Futures Short Fund, under the ticker DOWN, have met regulator’s requirements and have been approved for listing.

The UP fund is designed to deliver 400% of the daily performance of the S&P 500, whereas the DOWN fund will reflect the inverse 400% daily performance of the benchmark.

Douglas Yones, a top NYSE ETF official, told Reuters that he hopes the approval “paves the way for us to work with other leveraged product issuers over the rest of the year.”

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