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EXCHANGE TRADED PRODUCTS

Exchange Traded Products (ETPs) are financial instruments whose price depends on the value of a specific market parameter (the underlying):

  • Indices;
  • Shares;
  • Commodities (crude oil, gold, silver, natural gas, etc.);
  • Agricultural produce (wheat, maize, cocoa, coffee, etc.);
  • Baskets of stocks, commodities, indices;
  • FX rates, interest rates, etc.

ETPs are issued by financial institutional (e.g., banks or brokerage houses). Every ETP has a Prospectus and Final Terms which present all relevant information about the issuer and the instrument. In addition to risks, the Final Terms contain other information key to investors such as the rules of payment, which is useful in tracking in present value of held instruments.

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Types of ETPs listed on the WSE:

Risk / Potential Gains

Product Name

Description

 

 

INVESTMENT PRODUCTS

Low

Capital protection certificates

 

Structured bonds

Main features:

  • Protection of 100% of invested capital on maturity;
  • Instrument price may fall below 100% of the par value in the product lifetime;
  • Depending on selected certificates, additional gains are available from coupon payments;
  • Depending on selected certificates, potential gains are capped or unlimited.

List of structured products on the WSE

Moderate

Tracker certificates

Performance:profil wypl - tracker.jpg

Main features:

  • Tracks the price of the underlying on a 1:1 basis (or 1:-1 for short certificates);
  • Risks similar to a direct investment in the underlying. 

 

 List of tracker certificates on the WSE

 

Discount certificates

Performance:profil wypl - cert dysk.jpg

Main features:

  • Allows to “buy” the underlying at a lower price;
  • Investment risk lower than the risk of direct investment in the underlying.
  • Capped investment gains.

List of discount certificates on the WSE 

 

Bonus certificates

Performance:profil wypl - bonusy.jpg

Main features:

  • Investment risk lower than the risk of direct investment in the underlying owing to conditional protection of capital;
  • Capped investment gains.

 

List of bonus certificates on the WSE

Express certificates

Performance:profil wypl - ekspresowy cert.jpg

Main features:

  • Option of early redemption and additional coupon gains;
  • Investment risk lower than the risk of direct investment in the underlying owing to conditional protection of capital;
  • Capped investment gains.

List of express certificates on the WSE

 

 

LEVERAGE PRODUCTS

High

Turbo
(knock-out) certificates

Performance:profil - turbo.jpg

Main features:

  • Low invested capital and high potential gains thanks to the leverage;
  • High investment risk (limited to the amount of invested capital);
  • Immediate expiry once the underlying reaches the barrier;
  • Instrument fit for short-term investments and hedging.

List of turbo certificates on the WSE

Factor certificates

Performance:profil wypl - faktor.jpg

Main features:

  • Low invested capital and high potential gains thanks to the leverage;
  • High investment risk (limited to the amount of invested capital);
  • Instrument fit for short-term investments;
  • Leverage fixed within the day.

 

List of factor certificates on the WSE

Warrants

Performance:profil wypl - warrant.jpg

Main features:

  • Low invested capital and high potential gains thanks to the leverage;
  • High investment risk (limited to the amount of invested capital);
  • Instrument fit for short-term investments and hedging;
  • Loss of time value with approaching maturity.

List of warrants on the WSE 

 

Why invest in exchange-traded structured instruments?

1. Safety and transparency of trading, full product and issuer information;

2. Diversity of strategies:

  • Protection of capital combined with participation in gains (capital protected products);
  • Gains greater than from a direct investment in the underlying (leverage products);
  • Gains realised when the value of the underlying increases or decreases (long and short certificates);
  • Easy access to new markets (e.g., foreign markets) and new instruments (including commodities, indices, currencies);

3. Flexibility – instruments can be sold on the secondary market to exit the investment before redemption by the issuer;

4. Transparency – clear payment formula offered on maturity of the instrument;

5. Accessibility – all exchange-traded products are available in investment accounts operated by brokerage houses;

6. Low cost – the fee for buying and selling exchange-traded products is the same as for trade in stocks on the WSE.

 

Disclaimer: Information on structured products is available in the Prospectus and the Final Terms. Before buying any type of structured products, investors should review the legal terms and the product structure described in those documents (they are available in the structured product search engine). 

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