ETFS unveils 10 currency ETNs in Germany

ETF Securities has unveiled ten currency exchange-traded notes (ETN) on the Xetra exchange in Frankfurt.

The ETNs provide investors with long or short exposure to the performance of the euro against G-10 currencies, including the Swiss franc, British pound, Norwegian krone, Swedish krona and Japanese yen.

The notes deliver returns by tracking Morgan Stanley Foreign Exchange indices (MSFX), which replicate long or short investment in the euro against the respective currency.

The indices also provide exposure to local interest rates.

ETFS highlights the total value of the currency ETCs outstanding is backed by between 100% and 110% of eligible collateral, held in a segregated custody account with BNY Mellon.

The value of the products is marked to market daily, so the ETCs are all fully backed to minimise counterparty risks.

Since the launch of the firm's currency ETC platform, assets have increased to over $50m while weekly trading volumes have risen by 240% since inception at the beginning of the year.

ETFS adds the short euro long US dollar note has been the most popular trade this year, garnering 50% of new assets, while the Australian dollar has held the most net long positions.