ETN meaning in Stock Exchange ?

Answer:

What is Exchange Traded Notes mean?

An exchange-traded note (ETN) is a senior, unsecured, unsubordinated debt security issued by an underwriting bank. Similar to other debt securities, ETNs have a maturity date and are backed only by the credit of the issuer.

ETNs are designed to provide investors access to the returns of various market benchmarks. The returns of ETNs are usually linked to the performance of a market benchmark or strategy, less investor fees. When an investor buys an ETN, the underwriting bank promises to pay the amount reflected in the index, minus fees upon maturity. Thus ETN has an additional risk compared to an exchange-traded fund (ETF); if the credit of the underwriting bank becomes suspect, the investment might lose value in the same way that a senior debt would.

Often linked to the performance of a market benchmark, ETNs are not equities, equity-based securities, index funds or futures. Although ETNs are usually traded on an exchange and can be sold short, ETNs don't actually own any underlying assets of the indices or benchmarks they are designed to track.

The first ETN across the globe was developed and issued in May 2000 in Israel by Haim Even-Zahav the CEO of Psagot-Ofek financial instruments (Leumi group) under the product name TALI-25. The purpose of issuing this instrument was to track the TEL AVIV-25 index which represent the 25 leading companies in Israel. Almost two years later, in March 2002, issued the first ETN in the united states by the Equity Structured Products Group at Morgan Stanley under the product name BOXES as a way to access the biotechnology index at very low cost. In 2006, Barclays re-marketed the product under the trade name [iPath] Exchange-Traded Notes. This was soon followed by Bear Stearns, Goldman Sachs, and Swedish Export Credit Corporation. In 2008, additional issuers entered the market with their own offerings; these include BNP Paribas, Deutsche Bank, UBS, Lehman Brothers, and Credit Suisse.

reference

Full Form	Category
Eastland (tx)	Airport Code
Eaton Corporation	Business
Equestrian Trade News	Community
Ethiopian Television Network	Community
Enterprise Telecommunications Network	Computing
Electronic Testing and Networking	Computing
Electronic Trade Notification	Computing
ETS Trancesphere Network	Computing
Electronic Transactions	Computing
Electronic Trading Network	Computing
Educational Teleconference Network	Computing
Electroneum	Cryptocurrency
Entertainment Talk Nation	General
Entity Type Name	General
Enlaces Terrestres Nacionales	General
Enter The Nomicon	General
Elite Trade Net	General
Eagles Television Network	General
End Trust Negotiation	General
Enter Their Number	General
Erythema Toxicum Neonatorum	General
Escape The Night	General
Earth Television Network	General
Erythritol Tetranitrate And	General
Emission Test Notice	General
Egg The Nest	General
Equal To None	General
Exchange Traded Note	General
Event Tracking Number	Governmental
English Test Net	International
European Turbine Network	Regional
European Training Networks	Regional
European Textile Network	Regional
European Travel Network	Regional
European Training Network	Regional
European Tracking Network	Regional
Eastland, Texas USA	Regional
Exchange Traded Notes	Stock Exchange
Electronic Tandem Network	Telecommunication