Deutsche Bank Halts Issuance Of Agriculture ETN

Fox Business Monday 14th February, 2011

Deutsche Bank said late Monday that it's suspending new issuance of the PowerShares DB Agriculture Double Long Exchange Traded Notes . Daily repurchases at the option of holders of the notes will not be affected by the suspension, Deutsche Bank said in a statement, but the product won't be offered to new investors. It also warned that the suspension may cause "fluctuations" in the notes' trading value. In 2009, Deutsche Bank had launched efforts to restructure its PowerShares commodity-tracking funds in response to a crackdown by U.S. regulators. Ahead of the news, the DB Agriculture Double Long ETN closed down 1.8% Monday.Copyright © 2011 MarketWatch, Inc.

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