Dresdner Kleinwort Wasserstein (DrKW) has issued the first German retail structured product linked to the fledgling emissions trading market.The carbon dioxide (CO2) certificate will track the market value of CO2 emission rights in Europe. The certificates will trade on the regulated unofficial market (Freiverkehr) in Frankfurt, and on Euwax - the warrant and derivative trading arm of the Stuttgart Stock Exchange.
The certificates have been issued at a spot price of €20.35, with a maturity of six months. They will be redeemed on December 1 at the spot price traded that day on the European Energy Exchange.
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