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Important notice

This communication is made by ETF Securities Marketing LLP of 6th Floor, 2 London Wall Buildings, London EC2M 5UU. Any references in the following document to ETF Securities Limited making this communication should be construed as references to ETF Securities Marketing LLP. ETF Securities Marketing LLP is not regulated by the Jersey Financial Services Commission.

With effect from 1 January 2011, ETFS Management Company (Jersey) Limited has replaced ETF Securities Limited as the Product Manager of each of ETFS Commodity Securities Limited, ETFS Foreign Exchange Limited, ETFS Industrial Metal Securities Limited, ETFS Metal Securities Limited, ETFS Oil Securities Limited and Gold Bullion Securities Limited. Any references in the following document to ETF Securities Limited (other than references to ETF Securities Limited making this communication) shall be construed as references to ETFS Management Company (Jersey) Limited. ETFS Management Company (Jersey) Limited is regulated by the Jersey Financial Services Commission

This communication is provided for your general information only and does not constitute investment advice or an offer to sell or the solicitation of an offer to buy any investment. The terms and conditions applicable to investors will be set out in the relevant Prospectus.

Nothing in this communication is advice on the merits of any product or investment. Nothing in this communication constitutes investment, legal, tax or any other advice nor is it to be relied on in making an investment or other decision. You should take your own independent investment, tax and legal advice as you think fit.

Download Document

Important notice

This communication is made by ETF Securities Marketing LLP of 6th Floor, 2 London Wall Buildings, London EC2M 5UU. Any references in the following document to ETF Securities Limited making this communication should be construed as references to ETF Securities Marketing LLP

With effect from 1 January 2011, ETFX Investment Management LLP has replaced ETF Securities Limited as the Promoter of the Company. Any references in the following document to ETF Securities Limited (other than references to ETF Securities Limited making this communication) shall be construed as references to ETFX Investment Management LLP. ETFX Investment Management LLP is not regulated by the Jersey Financial Services Commission but is authorised and regulated by the United Kingdom Financial Services Authority. ETF Securities Marketing LLP is not regulated by the Jersey Financial Services Commission.

This communication is provided for your general information only and does not constitute investment advice or an offer to sell or the solicitation of an offer to buy any investment. The terms and conditions applicable to investors will be set out in the relevant Prospectus.

Nothing in this communication is advice on the merits of any product or investment. Nothing in this communication constitutes investment, legal, tax or any other advice nor is it to be relied on in making an investment or other decision. You should take your own independent investment, tax and legal advice as you think fit.

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WOULD YOU AND YOUR TEAM LIKE TO LEARN MORE ABOUT ETCS AND ETFS

We will come to your offices and give group presentations and teach-ins to your Team.

Simply contact us or give us a call on: +44(0) 207 448 4330

ABOUT ETFs & ETCs

Overview | About ETFs | About Commodity ETCs | About Currency ETCs

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 products	ETFS Foreign Exchange Limited (FXL) – 58 ETCs tracking MSFX^SM Currency Indices, 29 Long and 29 Shorts - 28 ETCs tracking Triple Long and Triple Short MSFX^SM Indices, 14 Triple Long and 14 Triple Short

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 FXL and 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.