WisdomTree Brent Crude Oil 1x Daily Short is designed to enable investors to gain a 'short' exposure to a total return investment in Brent crude oil futures contracts by tracking the Bloomberg Brent Crude SL Excess Return (the Index) and providing a collateral yield. The ETP is backed by swaps with Citigroup Global Markets Limited and Merrill Lynch International. The payment obligations of the swap counterparties to the Issuer are protected by collateral held in a segregated account at an independent custodian, The Bank of New York Mellon.