ETFS Long CAD Short USD
LCAD/CADP 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.
|Replication method||Synthetic - unfunded swap backed by collateral|
|Legal form||Debt security|
|UK Reporting Status||Yes|
|Securities regulator||Financial Conduct Authority (FCA UK)|
|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|
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 Long Canadian Dollar Index (TR)
The Index provides: (i) a 'long' exposure to CAD relative to USD. For example, if CAD were to rise in value relative to USD, the Index (tracked by the ETC) would rise in value. Conversely if CAD were to decrease in value relative to USD, the Index would also decrease in value; and (ii) an interest rate differential reflecting the difference between the CAD and the USD exchange rates.
The Index is a total return index, which means that it also provides a collateral yield.
|Index Name||MSFXSM Long Canadian Dollar Index (TR)|
|Index Constituent Count||1|
|Index Type||Total Return|
|Reuters Index Ticker||n.a.|
|Security||20 Sep 2019|
|1. MSFXSM Long Canadian Dollar Index (TR)||100.00%|
|Currency (weighting)||20 Sep 2019|
|1. US Dollar||47.08%|
|3. Bermudian Dollar||17.78%|
|4. Pound Sterling||14.34%|
|Country (weighting)||20 Sep 2019|
|1. UNITED STATES||47.08%|
|4. UNITED KINGDOM||14.34%|
|7. MARSHALL ISLANDS||0.00%|
|Constituents Top 20||20 Sep 2019|
|1. UNITED STATES TREAS N 2.375 15AUG24||32.74%|
|2. REPUBLIC OF AUSTR 1.75 20OCT23 144A||13.16%|
|3. UNITED STATES TREAS NTS 2.0 15FEB23||9.04%|
|4. CHINA LIFE INS CO - H CNY 1.0||2.24%|
|5. GETLINK SE EUR 0.4||2.24%|
|6. NEW ORIENTAL ED + TECH USD 0.01 ADR||2.24%|
|7. CK INFRASTRUCTURE HOLDINGS HKD 1.0||2.24%|
|8. CITIC LTD NPV||2.23%|
|9. CHINA CONSTRUCTION BANK COR CNY 1.0||2.23%|
|10. BANK OF CHINA LTD CNY 1.0||2.23%|
|11. ALIBABA GROUP HLDG USD 0.000025 ADR||2.23%|
|12. DOUYU INTL HLDGS LTD USD 0.0001 ADR||2.23%|
|13. NEXI SPA EUR 1.0 144A||2.23%|
|14. DAQO NEW ENERGY CORP NPV ADR||2.08%|
|15. IMPINJ INC USD 0.001||2.08%|
|16. HERA SPA EUR 1.0||2.01%|
|17. NATIXIS S.A. INH. EO 1;6||1.80%|
|18. CRITEO S A EUR 0.025 ADR||1.52%|
|19. UNITED KINGDOM GILT 1.75 07SEP22||1.51%|
|20. BUNDESOBLIGATION 0.0 13OCT23||1.19%|
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