Warsaw Stock Exchange trades Deutsche Bank’s X-Markets structured note
Warsaw Stock Exchange (WSE) has started trading Deutsche Bank’s X-markets structured note, db Magic Three II. The three-year note is linked to the average of the best return out of one of three different portfolios with different risk profiles (aggressive, balanced and defensive). Each portfolio will have a different emphasis, some on assets bearing more risk, eg. equities, and others on more secured investments, such as real estate. The note plays on this theme by incorporating the four main asset classes in each of the three portfolios: equity, European real estate market, commodities and the Polish money market, based on the Wibor rate.
The first structured note db Magic Three was issued by X-markets in July 2006, and was listed on the WSE a month later. According to a spokesman for the exchange, there are currently three structured notes land one index certificate listed on WSE. The three notes have been issued by X-markets and the certificate by Erste Bank.
The spokesman expects more structured products to be listed on the stock exchange later this year. Structured notes are relatively new to retail investors in Poland and are
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