Onyx Spot Return Crude Oil

Onyx Spot Return Crude Oil is a listed and fully collateralized Exchange Traded Commodity (ETC).

Whereas legacy ETCs track standard Brent or WTI futures, Onyx Spot Return Crude Oil tracks Dated Brent - which reflects global crude price movements more precisely. It is designed to provide more accurate oil exposure.

Designed by Experts

Onyx Spot Return Crude Oil is underpinned by our Dated Brent expertise.

Jorge Montepeque invented the Dated Brent benchmark in the 1980s - and is now Onyx's Head of Benchmarks. Before becoming the CEO of Onyx, Greg Newman was Dated Brent's first market maker. Manpreet Sandhu is now the world's top market-maker for Dated Brent products by volume.

Unmatched access

The underlying Onyx Spot Return Crude Contract is an OTC-traded instrument, traditionally accessible only to industry professionals and institutions.

By leveraging Onyx Commodities, the authorised participant for the ETC, we bring unmatched access and liquidity to the market.

iDated Brent

Dated Brent is the most representative benchmark for global crude prices.

It is used to price over 70% of physical oil transactions around the world. Major oil traders, refineries and producers price and hedge their North Sea crude oil cargoes using its weekly average.

Whereas other Brent Futures reflect prices 2 months from today, Dated Brent reflects spot crude oil physical loadings just 1 to 2 weeks from today.

As such it is the most accurate tracker of global oil prices.

Details

Onyx Spot Return Crude Oil is a fully collateralised Exchange Traded Commodity (ETC) designed to provide investors with a total return exposure to prompt weekly Dated Brent futures contracts that are continuously rolled on a pre-determined rolling schedule.

Onyx Spot Crude Return Oil Securities are designed to give investors exposure to the price of Spot Brent Crude through daily Dated Brent futures. They provide exposure to a price action return which includes changes in the price of the relevant daily Dated Brent futures and a collateral return through the Daily Adjustment (equivalent to an interest return net of all fees).

Constitution

Base Prospectus

Trust Deed

Audited Financial Statements

Reasons to invest

Listed and fully collateralised: with transparent performance and fees.
Better Price Reflection: Designed specifically for precision in reflecting global crude price movements, improving the accuracy of oil exposure compared with legacy ETCs.
Industry-Leading Expertise: Backed by the largest and most trusted market-maker in OTC oil contracts.
Broader Access: Offers retail and institutional investors exposure to a previously inaccessible asset class.

Maximised Returns: Engineered to provide superior returns to legacy oil ETCs in bull markets.
Easy to invest: Everything in one product which does not require the investor to manage storage, insurance or delivery of Crude Oil.
Risk Management: You cannot lose more than the amount invested.
Liquidity: Daily Dated Brent futures trade on both the ICE and CME exchanges with codes DDM and A7G respectively..

The Team

Greg
Newman

Group Chief Executive Office
Onyx Capital Group

Greg launched the first independent market-making desk in OTC Crude Oil products and was the leading market-maker by volume in the world for Dated Brent contracts. Greg launched Dated Brent market-making at Onyx Commodities.

Manpreet
Sandhu

Head of Dated Brent
Onyx Commodities Acting as Authorised Participant (AP) for ETC, providing best execution

Manny took over the Dated Brent book from Greg in 2019 and for the past 6 years has consistently been the no. 1 market-maker by volume, achieving an average market share of 20% in Dated Brent.

Jorge
Montepeque

Managing Director, Benchmarks
Onyx Capital Group

Jorge was the brain behind the Dated Brent benchmark itself whilst working at global-leading benchmark provider, Platts. For over 30 years Jorge worked on evolving the benchmark through many iterations and securing it as the most important benchmark in the world, pricing over 70% of the world’s physical crude prices..

Henry
Monahan

Director of Risk
Onyx Commodities

Henry has been working in trading risk and specifically Dated Brent related risk management since Greg started the book 13 years ago. He has maintained global-leading risk management in this space.

Data

Programme structure

Product Overview

Tax Information

Programme Structure

Role	Company
Issuer	ONYX ETC Securities Public Limited Company 4th Floor, 35 Shelbourne Road, Ballsbridge, Dublin 4, Ireland
Administrator	Onyx Commodities Limited 95 Cromwell Road, Second Floor, London, United Kingdom, SW7 4DL
Trustee and Security Trustee Corporate Services Provider Calculation Agent	Waystone Corporate Services (IE) Limited Unit 10 & 11, Cahir Road, Cashel Co. Tipperary, Cashel, Tipperary, E25 WK15, Ireland
Directors of the Issuer	Ross Dunne Matthew Tracey
Issuing and Paying Agent Account Bank Registrar and Transfer Agent	Citibank Europe plc 1 North Wall Quay, Dublin 1, Ireland
Auditor	Grant Thornton 13 – 18 City Quay, Dublin 2, D02 ED70, Ireland
Irish Legal Advisors	A&L Goodbody LLP 3 Dublin Landings, North Wall Quay, Dublin 1, D01 C4E0, Ireland
English Legal Advisors	Hill Dickinson LLP The Broadgate Tower, 20 Primrose Street, London, United Kingdom, EC2A 2EW
Irish Listing Agent	A&L Goodbody LLP 3 Dublin Landings, North Wall Quay, Dublin 1, D01 C4E0, Ireland
Domicile	Ireland
Replication Method	Synthetic - fully funded collateralised swap
Legal Form	Debt security
Legal Structure	ETC

Product Overview

Product Overview
Currency Hedged	No - this product is not protected against adverse currency movements
ISIN	XS3035884850
Leverage Factor	N/A
Physical Delivery	No
Underlying Exposure	Crude Oil (Brent)
Base Currency	USD
Management Fee	0.99%
Authorised Participants	Onyx Commodities Limited; Onyx Capital Advisory Limited

Tax Information

Tax Information
ISA	Eligible
Securities Regulator	Bank of Ireland
UCITS Eligible	Eligible
UK Reporting Status	Yes

FAQs

An Exchange-Traded Commodity (ETC) is a type of security that tracks the price of a commodity (such as oil, gold, or natural gas) and is traded on a stock exchange, similar to stocks and Exchange Traded Funds.

Please contact our Sales Team at etc@onyxcapitalgroup.com .

No. The most an investor can lose in an Onyx ETC is the entire value of their initial investment.

Yes. Onyx ETCs are in fact eligible as Undertakings for Collective Investment in Transferable Securities (UCITS), meaning they can be invested in by other UCITS-compliant funds. However please note Onyx ETCs themselves are not UCITS-compliant.

Onyx Spot Return Crude Oil