Mirae Asset Securities (006800.KS) said on Sept. 18 that it relisted four exchange-traded notes (ETNs) linked to KOSPI 200 and KOSDAQ 150 futures on the Korea Exchange. Two products track daily benchmark returns at 1x, while two inverse products track them at -1x, theoretically gaining 1% when the underlying index falls 1% in a day. All four products carry zero total fees. Their underlying indexes use a time-weighted average price (TWAP) methodology to distribute futures rollover trading across the three trading days leading up to and including the final trading day before expiration, reducing the risk of concentrated market impact. The relisting followed the maturity of predecessor products, which Mirae Asset had announced would be delisted, with redemption prices confirmed on Sept. 11. The new ETNs trade on the securities market like ordinary stocks, but investors remain exposed to issuer credit risk and potential differences between daily-reset performance and the underlying index's cumulative return over longer holding periods.