Exchange Traded Products

Exchange Traded Products Exchange traded products are JSE listed instruments which track the performance of a single underlying asset, index or basket of underlying assets. These are typically known as tracker products and therefore provide investors with a South African Rand-based product to gain exposure to the performance of the underlying basket in question. They are listed on the JSE, experience price fluctuations, and are tradable when the markets are open. There are two types of Exchange Traded Products:-

  • Exchange Traded Funds (ETFs); and
  • Exchange Traded Notes (ETNs)

Exchange Traded Notes & Exchange Traded Products

The ETF and the ETN (Exchange Traded Note) are similar in practice – both structures are designed to track an underlying asset and are traded on major exchanges, just like a listed share.

The primary difference between them has to do with credit risk: An ETF is a type of fund that holds the underlying assets (a portion of shares of a particular stock). ETF shareholders are entitled to a proportion of the profits, such as dividends declared and paid. They may also get residual value if the fund is liquidated. An ETF’s value is derived from the indirect ownership of the underlying assets.

In contrast, ETNs are unsecured listed debt instruments issued by an institution where the returns of a specific index or basket are ‘promised’ to the purchaser of the note. ETNs are tradable instruments with intraday price changes based on the underlying asset(s). One factor that affects the value of the ETN is the credit rating of the ETN issuer – should the issuer become insolvent, the investor would risk total default; or should the issuer experience a downgrade on its credit rating, the value of the ETN may drop, despite no change in the underlying asset it tracks.

ETFs Available

With Standard Online Share Trading you are able to trade in all listed ETFs on the JSE. There is a diverse range of instruments that provide investors exposure to onshore and offshore equity baskets, as well as different sectors on the JSE. SBG Securities cannot guarantee the liquidity or performance of any of these funds.

ETNs provided for by Standard Bank

Commodity-Linker ETNs

The Standard Bank of South Africa Limited’s (Standard Bank) Commodity-Linker ETNs provides the investor with exposure to the performance of underlying commodities. ETNs may be passively held for the maximum maturity of 10 (ten) years thereby meeting the investors’ long term view. Standard Bank is a committed market maker and therefore investors are assured the ease of entry to and exit from this market should they not want to adopt a 'buy and hold' strategy.

JSE Trading Codes:

  • Gold-linker (SBAG1)
  • Silver-linker (SBAS1)
  • Platinum-linker (SBAPL1)
  • Palladium-linker (SBAPD1)
  • Corn-linker (JSE Code: SBACRN)
  • Wheat-linker (JSE Code: SBAWHT)
  • WTI Oil-linker (JSE Code: SBAOIL)
  • Copper-linker (JSE Code: SBACOP)

Read more about Commodity linker ETNs

Africa Equity Index ETN

The Standard Bank continues African Equity Index ETN provides investors with exposure to the performance of listed African stocks (excluding South Africa), and doing so, to the growing performance of 'Africa' as an asset class. Read more about the Africa Equity Index ETN.

Standard Bank Retail Notes

The Standard Bank Retail Notes are JSE listed fixed income securities that give individuals access to superior interest rates, previously only available to companies and institutional investors

JSE Trading Codes:

Retail Notes Term Maturity Price Rate
SBR003 5 years 5 November 2013 Price 3 month JIBAR + 0.30%

Read more about Standard Bank Retail Notes

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