Exchange-traded note delistings 'should be criminal,' market analyst says (via ETFEdgeCNBC)
that retail traders caused the surge as many have limited-to-no access to that corner of the market.
"This is a problem for the industry and for investors," Nadig told CNBC. "Instead of just shutting the products down, they closed them for new money and then delisted them, meaning they took them from NYSE or Nasdaq or Cboe where they were and they pushed them into the pink sheets. What happens then is all the volume dries up because it's the pink sheets. Many investors can't even trade on the pink sheets.
"What this means is you've got to pay attention and know what you own and why you own it and not get caught blindsided when somebody decides they want to delist a product," he said."This is just unadulterated avarice on the part of Credit Suisse," the CIO said. "They are keeping them open so that they can continue to collect their fee, or in this case reduce their liability, as these products wind down. It should be criminal.
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