Scoach Introduces Exchange Trading for Foreign Currency Products – HSBC Trinkaus Issues First Products
Products in various foreign currencies can be traded on the Frankfurt certificate exchange, Scoach, with immediate effect. These currencies include the US dollar, Swiss franc and Swedish krona.
HSBC Trinkaus is the first issuer to take advantage of the new service to list certificates denominated in foreign currencies on a German exchange. Investors currently have the choice of four products; there are two products denominated in Swiss francs (CHF) – a capped bonus certificate and a protect index bond on the Swiss SMI® exchange barometer, and for investors with US dollar (USD) accounts, the capped bonus certificate and protect index bond on the S&P 500®, both denominated in USD. “These issues are not new product structures, they are process innovations, as was the case with the intraday issues we introduced a few months ago,” said Heiko Weyand, Head of Product at HSBC Trinkaus. He went on to explain an additional advantage for investors, “Because the securities are listed in the currency of their respective underlyings, it is easier for investors to monitor their performance than if they were listed in euros.”
The foreign currency products may be of interest to investors with accounts in USD or CHF who wish to trade via a German exchange. Since the products are traded on the Scoach certificate exchange, they are subject to German stock exchange regulators. “The supervision of trading provides additional security for investors,” said Christian Reuss, CEO of Scoach Europa AG. “Trading via an exchange is often essential to asset managers in particular.”
About HSBC Trinkaus
HSBC Trinkaus is one of the leading private banks in Germany and part of the globally operating HSBC Group. As an issuer of certificates and warrants, HSBC Trinkaus has been one of the leading innovators for financial products in the German market for twenty years. In 1989, the bank pioneered the first warrant issue (covered warrant) in the fledgling derivatives market, and in 1995 issued the first discount certificate in Germany.
Scoach is a joint venture between Deutsche Börse AG and the Swiss SIX Group for structured product trading. With its extensive offering and trading venues in Frankfurt and Zurich, Scoach has established itself as Europe’s leading exchange for certificates and warrants.
Scoach website (www.scoach.de)
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