WisdomTree Nickel 1x Daily Short is a fully collateralised Exchange Traded Commodity (ETC) designed to provide with a short exposure to Nickel. The ETC provides a total return comprised of -1 times the daily performance of the Bloomberg Nickel Subindex Excess Return, plus the interest revenue adjusted to reflect fees and costs associated with the product. The ETC is backed by swaps. The collateral is held in segregated accounts at The Bank of New York Mellon.