ETFS 3x Long EUR Short GBP
EUP3 is an exchange traded currency ("ETC"). Its securities can be created and redeemed on demand by authorised participants and traded on exchange just like shares in a company.
The ETC obtains exposure to the Index by entering into unfunded swaps with a counterparty. There is no upfront cash payment by the Issuer to the counterparty when an unfunded swap is created. However, daily cash payments are made between the Issuer and the counterparty to reflect the movements in the value of the Index.
Separately, the Issuer uses the cash it holds to purchase eligible collateral from the counterparty under a daily reverse repurchase agreement ("reverse repo"), an agreement whereby the counterparty agrees to repurchase such eligible collateral from the Issuer the following day. The eligible collateral is held by the custodian in a custody account.
|Currency hedged||No – this product is not protected against adverse currency movements|
|Daily Change (15 Jan 2019)||1.55%|
|Price (NAV) (15 Jan 2019)||£33.87|
|Replication method||Synthetic - unfunded swap backed by collateral|
|Legal form||Debt security|
|Securities regulator||Financial Conduct Authority (FCA UK)|
|UK Reporting Status||Yes|
|Key Service Providers|
|Trustee||The Law Debenture Trust Corporation p.l.c.|
|Issuer||ETFS Foreign Exchange Limited|
|Registrar||Computershare Investor Services (Jersey) Ltd|
|Collateral manager||The Bank of New York Mellon|
|Counterparty||Morgan Stanley & Co. International plc|
|Entry / Exit fees||None when traded on Exchange|
Listings & Codes
|Listings & Codes|
The above chart presents information about the difference between the daily market price for shares of the Fund and the Fund's net asset value. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 p.m. eastern time for most Funds). The vertical axis of the chart shows the premium or discount expressed as a percentage of mid-point.
† Source: Bloomberg, all data delayed at least 15 minutes.
Note: Volume is the number of securities traded on the relevant Exchange. Estimated value of securities traded (volume x Last price). For the purposes of showing the total turnover, we convert the turnover for each product from its trading currency into USD using a standard end-of-day benchmark exchange rate.
MSFXSM Triple Long Euro/GBP Index (TR)
The Index provides a 3x leveraged 'long' exposure to: (i) EUR relative to GBP. For example, if EUR were to rise in value relative to GBP, the Index (tracked by the ETC) would rise in value by three times the same amount. Conversely if EUR were to decrease in value relative to GBP, the Index would decrease in value by three times the same amount; and (ii) an interest rate differential reflecting the difference between the EUR and the GBP exchange rates.
The Index is a total return index, which means that it also provides a collateral yield.
|Index Name||MSFXSM Triple Long Euro/GBP Index (TR)|
|Index Constituent Count||1|
|Index Type||Total Return|
|Reuters Index Ticker||n.a.|
|Security||15 Jan 2019|
|1. MSFXSM Triple Long Euro/GBP Index (TR)||100.00%|
|Currency (weighting)||15 Jan 2019|
|2. Pound Sterling||22.60%|
|3. Hong Kong Dollar||5.95%|
|4. Cayman Islands Dollar||1.86%|
|6. US Dollar||0.16%|
|Country (weighting)||15 Jan 2019|
|3. UNITED KINGDOM||22.60%|
|4. HONG KONG||5.95%|
|5. CAYMAN ISLANDS||1.86%|
|7. UNITED STATES||0.16%|
|Constituents Top 20||15 Jan 2019|
|1. FINLAND GOVERNMENT 0.0 15APR22 144A||24.67%|
|2. REPUBLIC OF AUSTR 1.75 20OCT23 144A||20.62%|
|3. UNITED STATES TREAS NTS 1.5 15MAY20||11.74%|
|4. UNITED KINGDOM GILT 4.5 07MAR19||10.95%|
|5. UNITED KINGDOM GILT 1.75 07SEP22||7.49%|
|6. REPUBLIC OF AUSTRI 3.9 15JUL20 144A||4.03%|
|7. CK HUTCHISON HOLDINGS LTD HKD 1.0||2.15%|
|8. TENCENT HOLDINGS LTD HKD 0.00002||2.15%|
|9. WH GROUP LTD USD 0.0001 144A||2.15%|
|10. SINO BIOPHARMACEUTICAL LT HKD 0.025||2.15%|
|11. EDF EUR0.5||2.14%|
|12. THALES SA EUR 3.0||2.13%|
|13. UNITED KINGDOM GILT 2.0 22JUL20||2.00%|
|14. FRENCH REPUBLIC GOVERNM 4.5 25APR41||1.93%|
|15. CHINA UNICOM HONG KONG LTD NPV||0.59%|
|16. HENGAN INTERNATIONAL GROUP HKD 0.1||0.35%|
|17. ENAV SPA NPV 144A||0.32%|
|18. ARCO PLATFORM LTD USD 0.00005||0.26%|
|19. CHINA MOBILE LTD NPV||0.24%|
|20. EDP RENOVAVEIS SA EUR 5.0||0.23%|
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