(October 6 – 12:50 ET) – The TSE Inc. is seeking a specialist to act as registered trader for Barclays Global Investors Canada Ltd.’s new exchange-traded funds, the i500 Fund and the iInt Fund.
The i500 will track the performance of the S&P 500 Index, while maintaining RRSP eligibility, by holding Canadian short-term money market instruments and exchange-traded futures contracts based on the S&P 500.
The iInt Fund will track the performance of a recognized international equity index, currently the Morgan Stanley Capital International-Europe, Australasia, Far East Index. It will also use derivatives to stay RRSP eligible.
Both funds will distribute net income and net realized capital gains on at least an annual basis so that it will not be liable for income tax. Initially, BGI expects each issue to start with approximately $75 million, based on an initial issue price of $50 per unit.
Applications for the specialist position will be accepted up to October 20.
-IE Staff