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Scoach and EDG make certificate development transparent
New indices for guarantee, bonus, discount and outperformance certificates / Representative market tracking based on volume actually invested
"The indices very clearly illustrate the functions of each structure. Investors and market participants can use them to easily check whether certificates live up to their claims," explained Marc Zahn, spokesman for the Management Board of Scoach Europa AG.
The index calculations are based on products on the Dow Jones EURO STOXX 50® price index. This index encompasses the lion's share of investor certificate volume. The guarantee certificate index also includes all products with equity underlyings. This selection allows a direct comparison of the efficiency of each structure with a broad market index. The index members are determined on a representative basis for each type of certificate, based on the respective product features. They are weighted using the actual volume invested on the market.
The German derivatives association (Deutsche Derivate Verband - DDV) supports this initiative. "Investors can compare the performance of their certificates with an appropriate benchmark. This leads to increased market transparency," said Lars Brandau, managing director of the DDV.
The new indices are calculated for guarantee, bonus, discount and outperformance certificates, on a daily basis for the time being. They are available on the Scoach and EDG websites, at www.scoach.com and www.derivatives-group.com. In future, Deutsche Börse will disseminate these certificate indices via its CEF® data feeds.
Scoach is a joint venture between Deutsche Börse and SIX Swiss Exchange, which began trading in structured products in January 2007. Since the end of April 2008, Scoach has been using Xetra® technology for certificate trading every exchange trading day from 9 a.m. to 8 p.m. Investors wishing to place orders with Scoach select "Frankfurt" as the stock exchange in the order mask. With its extensive offering, Scoach has established itself as Europe's leading exchange for certificates and options. www.scoach.com
About European Derivatives Group
European Derivatives Group GmbH (EDG) is an independent company which is entirely owned by its employees, and which has a broad academic network and close contacts with industry specialists. EDG makes the certificate market transparent with quantitative analyses, and product and risk assessments in the area of structured products. EDG subsidiary European Derivatives Academy (EDA) offers tailored training and further education programs on derivative financial instruments. The Group is located in Frankfurt, Munich and Zurich.
CEF® and Xetra® are registered trademarks of Deutsche Börse AG.
Dow Jones EURO STOXX 50® is a registered trademark of STOXX Ltd.
Further information from Deutsche Boerse Group is available under http://deutsche-boerse.com/...
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