Page Perry

Credit Suisse’s VIX (volatility)-linked exchange traded note? named “VelocityShares Daily 2X VIX Short-Term ETN” ? plummeted 30 percent on March 23 after Credit Suisse announced it would resume issuing new shares. “This is a wake-up call,” a Morningstar analyst was quoted as saying, adding: “People don’t take seriously the options that issuers have” that can cause ETNs to suddenly stop behaving as expected.