Exchange-traded notes see huge demand in South Africa

Since their inception in 2010, the appeal to gain exposure to offshore financial markets using exchange traded notes has amplified, with an estimated surge of 1,143% in trade in 2011. A flood of ETNs are being listed on the exchange as regulators relax exchange controls. Magda Ali reports

Brett Duncan, Standard Bank

South African investors got their first taste of how exchange-traded notes (ETNs) could help them gain access to markets in a more liquid form in 2010, when Absa Capital launched the first two conventional ETNs based on precious metals. It was the start of a significant new market. Once the Johannesburg Stock Exchange (JSE) was authorised to start listing structured products and exchange-trade-products (ETPs) by the South African Reserve Bank (SARB), the surge in demand for the low cost, high

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