WisdomTree Short NOK Long EUR
WisdomTree Short NOK Long EUR 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 daily 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.
*Formerly ETFS Short NOK Long EUR
|Currency hedged||No – this product is not protected against adverse currency movements|
|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||WisdomTree Foreign Exchange Limited|
|Registrar||Computershare Investor Services (Jersey) Ltd|
|Collateral manager||The Bank of New York Mellon|
|Counterparty||Morgan Stanley & Co. International plc|
|Daily Swap Rate||0.00164%|
|Entry / Exit fees||None when traded on Exchange|
Listings & Codes
|Listings & Codes|
i 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.
MSFXSM Short Norwegian Krone/Euro Index (TR)
The Index provides: (i) a 'short' exposure to NOK relative to EUR. For example, if NOK were to rise in value relative to EUR, the Index (tracked by the ETC) would decrease in value. Conversely if NOK were to decrease in value relative to EUR, the Index would increase in value; and (ii) an interest rate differential reflecting the difference between the NOK and the EUR exchange rates.
The Index is a total return index, which means that it also provides a collateral yield.
|Index Name||MSFXSM Short Norwegian Krone/Euro Index (TR)|
|Index Constituent Count||1|
|Index Type||Total Return|
|Reuters Index Ticker||n.a.|
|Security||27 Mar 2020|
|1. Bloomberg Brent Crude Subindex Total Return||100.00%|
|Currency (weighting)||27 Mar 2020|
|3. Pound Sterling||16.40%|
|4. US Dollar||4.10%|
|Country (weighting)||27 Mar 2020|
|3. UNITED KINGDOM||16.40%|
|4. UNITED STATES||4.10%|
|Constituents Top 20||27 Mar 2020|
|1. JAPAN TREASURY DISCOUNT 0.0 22FEB21||24.67%|
|2. FRENCH REPUBLIC GOV 2.25 25JUL20 IL||18.00%|
|3. UNITED KINGDOM GILT 3.5 22JUL68||11.78%|
|4. JAPAN GOVERNMENT TWO YE 0.1 01JUN20||9.23%|
|5. FRENCH REPUBLIC GOVE 1.1 25JUL22 IL||4.34%|
|6. FRENCH REPUBLIC GOVERN 3.25 25MAY45||4.26%|
|7. FRANCE TREASURY BILL BT 0.0 12AUG20||4.24%|
|8. UNITED STATES TREAS B 2.875 15AUG45||4.12%|
|9. FRENCH REPUBLIC GOVERNM 0.0 25NOV29||3.12%|
|10. FRENCH REPUBLIC GOVERNM 0.0 25FEB23||2.84%|
|11. UNITED KINGDOM GILT 2.5 22JUL65||2.57%|
|12. FRENCH REPUBLIC GOVERN 0.25 25NOV26||2.51%|
|13. BUNDESREPUBLIK DEUTSCHL 3.0 04JUL20||2.33%|
|14. UNITED KINGDOM GILT 3.5 22JUL68||2.12%|
|15. REPUBLIC OF AUSTR 3.65 20APR22 144A||1.31%|
|16. BUNDESOBLIGATION 0.0 05APR24||1.01%|
|17. FRENCH REPUBLIC GOVERNM 3.5 25APR26||0.62%|
|18. FRENCH REPUBLIC GOVE 0.1 01MAR28 IL||0.58%|
|19. FRENCH REPUBLIC GO 1.5 25MAY50 144A||0.38%|
|20. FRANCE GOVERNMENT BD 5.5 25APR2029||0.00%|
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