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Published on 9/10/2008 in the Prospect News Structured Products Daily.

S&P GSCI Crude Oil again tops list of most-traded Barclays iPath ETNs

By Jennifer Chiou

New York, Sept. 10 - Barclays Bank plc's iPath S&P GSCI Crude Oil Total Return once more claimed the top spot as the bank's most-traded iPath exchange-traded notes, according to a trading strategy report for June released by Barclays on Wednesday.

The ETNs had an average daily trading volume of $72.3 million for the month of June, with an average of 896,000 notes changing hands each day, compared with an average daily volume of $43.5 million and 574,000 notes in May.

The iPath MSCI India index ETN again finished second with an average daily volume of $39.7 million in June, with an average of 670,000 notes traded. The ETNs had an average daily trading volume of $32.4 million for the month of May, with an average of 454,000 notes changing hands each day.

In third place was the iPath Dow Jones - AIG Commodity Index Total Return ETN with a daily average volume of $24.0 million and 348,000 notes traded, compared with $21.8 million and 334,000 in the previous month.

The iPath Dow Jones - AIG Livestock Total Return Sub-Index ETN again ended the month up in fourth place. Its average daily volume in May was $12.6 million and 285,000 notes.

The iPath Dow Jones - AIG Grains Total Return Sub-Index rounded out the top five, with an average daily volume of $4.0 million and 57,000 notes.

The average spread for the 17 iPath ETNs was 29.67 basis points in June, up from 17.64 bps in May. The figure was 22.42 bps in April, 32.36 bps in March, 20.19 bps in February and 21.43 bps in January.

The widest spread in June was posted by the iPath Dow Jones-AIG Nickel Total Return Sub-Index ETN at 45.8 bps, and the tightest was 3.8 bps for the iPath S&P GSCI Crude Oil Total Return Index ETN.


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