Credit Suisse scales down ETNs, retains key assets post UBS acquisition

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Despite past controversies, including its role in the ‘Volmageddon’ episode and the wipeout of its oil note during negative crude prices, Credit Suisse is not completely exiting the ETN market. The bank will continue trading three major ETNs: the $343 million X-Links Crude Oil Shares Covered Call ETN, the $123 million X-Links Silver Shares Covered Call ETN, and the $79 million X-Links Gold Shares Covered Call ETN. These three products constitute most of Credit Suisse’s remaining ETN assets.

This development comes as part of a series of changes following UBS Group AG’s recent acquisition of Credit Suisse. The move to close and delist a significant number of ETNs is seen as a strategic decision to streamline operations and focus on profitable segments.

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