Sullivan & Worcester Counsels ConvexityShares In Launch Of Two New Funds
Boston, MA - After a years-long review process, Sullivan & Worcester LLP client ConvexitySharesTM this week launched two new exchange traded funds (ETFs) developed to provide investors with access to a new product designed to manage volatility exposure. Former Sullivan partner Eric Simanek, with partners Michael Dyson and Christopher Curtis, was instrumental in shepherding the new funds, ConvexityShares 1x SPIKES Futures ETF (SPKX) and ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY), through the two-year regulatory process.
“These are sophisticated volatility funds. The Securities and Exchange Commission and the National Futures Association gave both funds a thorough look and requested additional comments and information on several critical points,” Simanek, who was based in Washington, D.C., said. “Ultimately, we took the time to get everything right, forecasted potential impediments, responded to the SEC queries and navigated the process to get these two innovative funds listed on the NYSE Arca, Inc.”
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