Van Eck Global is planning to float broad-based commodity futures ETF, Index Universe reports. The Market Vectors CM Commodity Index ETF will invest in commodity-linked derivative instruments, including commodity index-linked notes, swap agreements, commodity futures contracts and options on futures contracts. The new vehicle will track the UBS Bloomberg Constant Maturity Commodity Total Return Index. The ETF will seek to minimize the corrosive effect contango can have on futures-related returns.

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