Support For Chi-X Warrants and TraCRs Products
Chi-X introduced their new Multi Asset Platform late last year initially with support for warrants and ETFs. With the backing of one of the largest warrant market makers Citibank, they have been taking market share from ASX over the last year. Read more about the Chi-X warrant market...
Now, Chi-X is adding to the Multi Asset Platform with a new product called "TraCRs" (Transferrable Custody Receipts). Like warrants and ETFs, TraCRs are an instrument that derive their value from an underlying asset, which in this case is a stock listed on an offshore market. Initially these markets will include the main United States exchanges NYSE and NASDAQ allowing Australian investors to gain exposure to the likes of Google, Microsoft, Apple, and Coca-Cola to name a few. Chi-X have indicated that at least initially the TraCR units will have an equivalent rights over the underlying asset on a 1:1 basis (i.e. 1 TraCR unit has ownership rights over 1 share of the underlying asset)
The implications of the new product are huge for investors wanting to manage their own investments. Already amscot clients have access to equities, warrants, ETFs, and mFunds to build diverse portfolios. With the addition of TraCRs they will also be able to take advantage of investing in overseas markets and potentially gain from currency exchange rates as well. Additionally, investors will have the security of knowing that the TraCR holdings will be registered on their existing CHESS HIN.
amscot is excited to announce that it plans support for both the Chi-X warrants and TraCRs products soon. Warrants should be available in the next few weeks, while the TraCRs should be available soon after it is released by Chi-X next month.
Now, Chi-X is adding to the Multi Asset Platform with a new product called "TraCRs" (Transferrable Custody Receipts). Like warrants and ETFs, TraCRs are an instrument that derive their value from an underlying asset, which in this case is a stock listed on an offshore market. Initially these markets will include the main United States exchanges NYSE and NASDAQ allowing Australian investors to gain exposure to the likes of Google, Microsoft, Apple, and Coca-Cola to name a few. Chi-X have indicated that at least initially the TraCR units will have an equivalent rights over the underlying asset on a 1:1 basis (i.e. 1 TraCR unit has ownership rights over 1 share of the underlying asset)
The implications of the new product are huge for investors wanting to manage their own investments. Already amscot clients have access to equities, warrants, ETFs, and mFunds to build diverse portfolios. With the addition of TraCRs they will also be able to take advantage of investing in overseas markets and potentially gain from currency exchange rates as well. Additionally, investors will have the security of knowing that the TraCR holdings will be registered on their existing CHESS HIN.
amscot is excited to announce that it plans support for both the Chi-X warrants and TraCRs products soon. Warrants should be available in the next few weeks, while the TraCRs should be available soon after it is released by Chi-X next month.