An ETN (exchange traded note) issued by WestLB has been tradable for the first time on Xetra since Thursday. WestLB is the third issuer to join Deutsche Brses ETN segment. Exchange traded notes track the performance of reference indices outside of the commodities sector.
ETN name: Index Plus ETN DAXAsset class: EquitiesISIN: DE000ETN1WL5Management fee: noneBenchmark: DAX Index
The Index Plus ETN DAX enables investors to participate in the performance of the DAX performance index with outperformance of 0.20 percent p.a. There is no management fee.
DAX is the most important German equity index, and as the fourth largest underlying for derivatives in the world is a key equity index in the global financial markets. The DAX index is calculated by Deutsche Brse and tracks the performance of the 30 largest German companies in terms of order book turnover and market capitalization.
Deutsche Brses ETN segment product range currently comprises 13 instruments. In addition to the new ETN on the equities asset class, investors can also invest in ten ETNs on the currencies asset class and two on the volatility asset class.
D.C.