HSBC Trinkaus has become the first issuer to take advantage of Scoach’s new service to list certificates denominated in foreign currencies on a German exchange.
HSBC Trinkaus has become the first issuer to take advantage of Scoach’s 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 – a capped bonus certificate and a protect index bond on the Swiss SMI exchange barometer – and for investors with US dollar 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," says Heiko Weyand, head of product at HSBC Trinkaus. "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," says Christian Reuss, chief executive of Scoach Europa. "Trading via an exchange is often essential to asset managers in particular."
HSBC Trinkaus is a private bank in Germany and part of the globally operating HSBC Group.
