Chi-X has announced it will offer a new product called Transferable Custody Receipts (TraCRs - pronounced as"Tracers") from as early as the first half of 2017. TraCRs are based on an underlying asset that is a member of the primary index of a specified offshore market, in this case the main United States exchanges NYSE and NASDAQ.
Simply put, TraCRs will enable amscot clients to trade companies like Facebook, Amazon, Google, Microsoft, Apple, & Coca-Cola on an Australian exchange, in Australian dollars and during Australian market hours. Importantly, your holdings of TraCR securities will be registered on your existing CHESS HIN with us, along with your other shares, giving the added benefit of a single portfolio to manage.
We are excited about the potential that this product offers. amscot clients will be able to build a highly diversified portfolio combined with other products like direct equities, ETFs, warrants and mFund. This should be especially attractive for self-directed investors and SMSF account holders wanting to take advantage of hedging strategies and investment opportunities that overseas investment provides.
More updates soon...