Nordea Bank, the largest bank in the Nordic region, has launched two exchange-traded certificates (ETCs) on the Nordic Derivatives Exchange (NDX) in Sweden.
The certificates follow the OMXS30 index with a constant daily leverage of two. The bull OMX X2 N increases in value when the index grows, while the bear OMX X2 N increases in value when the index falls.
"It has constant intraday leverage so although the security is a certificate, it works like a leveraged exchange-traded fund (ETF). It is a