ETFS Foreign Exchange Limited
Starting from February 10th 2011, 12 new ETFS Foreign Exchange Limited ETNs on currency indices
Feb 08 2011 - 16:00
Borsa Italiana welcomes the first ETNs on “Securitized derivative financial instruments (ETCs/ETNs)” segment of ETFplus market. ETNs are issued by ETFS Foreign Exchange Limited and tracks currency indices calculated and published by Morgan Stanley & Co. The following ETNs will be listed:
ETFS 3X LONG AUD SHORT EUR JE00B3QYZH88
ETFS 3X LONG CAD SHORT EUR JE00B3SDPZ16
ETFS 3X LONG CHF SHORT EUR JE00B3XPTF07
ETFS 3X LONG GBP SHORT EUR JE00B3R2DZ58
ETFS 3X LONG JPY SHORT EUR JE00B3WDZY68
ETFS 3X LONG USD SHORT EUR JE00B3QQ4551
ETFS 3X SHORT AUD LONG EUR JE00B3RXT940
ETFS 3X SHORT CAD LONG EUR JE00B44MN333
ETFS 3X SHORT CHF LONG EUR JE00B3S71Q64
ETFS 3X SHORT GBP LONG EUR JE00B3RQ6R05
ETFS 3X SHORT JPY LONG EUR JE00B44CBN95
ETFS 3X SHORT USD LONG EUR JE00B3T3K772
The indices allow the investor to take, with leveraged of 3, a long position on a currency X and, at the same time, a short position on a currency Y. The index can represent a position of a person getting a overnight loan (equal to 3 times the capital used) in the currency Y paying the relevant interest rate (short currency position) and investing that sum of money in an overnight deposit denominated in currency X receiving the relevant interest rate (long currency position).The capital used is daily remunerated at EONIA-0,5% rate (the rate can’t be negative). The positions are closed and reopened on daily basis. All the indices are Euro denominated.
Please download the relevant public notice: VISUALIZZA PDF