WisdomTree Live Cattle (CATL) is designed to enable investors to gain an exposure to a total return investment in live cattle by tracking the Bloomberg Live Cattle Subindex (the "Index") and providing a collateral yield. CATL is an exchange traded commodity ("ETC"). Its securities can be created and redeemed on demand by authorised participants and traded on exchange just like shares in a company. The ETC is backed by swaps. The payment obligations of the swap counterparties to the Issuer are protected by collateral held which is marked to market daily. The collateral is held in segregated accounts at The Bank of New York Mellon.