ETFS Foreign Exchange Limited

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