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Introducing Currency ETCs
| Investment objective |
Currency ETCs enable investors to gain exposure to foreign exchange movements through a listed security. Currency ETCs track currency indices which aim to reflect movements in exchange rates between two currencies, plus exposure to local interest rates. ETFS-branded currency ETCs are secured, undated, zero coupon notes that are designed to accurately track the underlying currency index. |
| Type of security |
100% Collateralised, undated, zero-coupon note |
| Market makers |
More Information |
| Issue size |
Currency ETCs are open-ended |
| Current offering |
ETFS Foreign Exchange Limited (FXL) – 58 ETCs tracking MSFXSM Currency Indices, 29 Long and 29 Shorts
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Benefits of Currency ETCs
| Accurate |
Currency ETCs accurately track the underlying currency index incorporating changes to movements in exchange rates and exposure to local interest rates. |
| Liquid |
Currency ETCs are open-ended securities, and therefore are not limited to on-exchange volumes |
| Simple & Accessible |
Currency ETCs are traded and settled on regulated stock exchanges, the same as any equity, and can be purchased and held in ordinary brokerage or custodial accounts |
| Transparent |
Currency ETC pricing is based on a transparent formula with the pricing updated daily on the ETF Securities website |
| Flexible |
Investors can go long or short ETCs, and they are lendable and marginable |
| Proven record |
Currency ETCs are managed by the same team which created the world's first exchange traded commodity; this team has approximately 7 years experience in developing exchange traded products |
Index disclaimer: The Morgan Stanley Indices are the exclusive property of Morgan Stanley & Co. Incorporated (“Morgan Stanley”). Morgan Stanley and the Morgan Stanley index names are service mark(s) of Morgan Stanley or its affiliates and have been licensed for use for certain purposes by ETF Securities Ltd.. The financial securities referred to herein are not sponsored, endorsed, or promoted by Morgan Stanley, and Morgan Stanley bears no liability with respect to any such financial securities. The Prospectus contains a more detailed description of the limited relationship Morgan Stanley has with ETF Securities Ltd. and any related financial securities. No purchaser, seller or holder of this product, or any other person or entity, should use or refer to any Morgan Stanley trade name, trademark or service mark to sponsor, endorse, market or promote this product without first contacting Morgan Stanley to determine whether Morgan Stanley’s permission is required. Under no circumstances may any person or entity claim any affiliation with Morgan Stanley without the prior written permission of Morgan Stanley.
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