GCC markets have been experiencing a sharp correction since August and Middle East investors are increasingly looking for a product that is easily accessible and can offer an effective hedge to their Equity portfolios.
The ML GCC Hedge Basket is a selection of stocks which are representative of the GCC region, ex-Saudi Arabia.
The 10Y-GCC Hedge Basket Inverse Tracker Certificate will provide an inverse exposure to the ML GCC Hedge Basket, commonly known as short exposure.
In other words, the value of this listed instrument will appreciate when the market falls, and vice versa, depreciate when the market rallies.
This will be the first product providing investors with downside protection through a fully-funded, turn-key investment solution.
In August 2007, Merrill Lynch was among the first investment banks to list structured certificates on the DIFX TraX (Tracker-10YIT-Dubai and ReverseT-1YRC-Dubai).
Karim Mathlouthi, head of Equity Derivatives Sales in the Middle East and North Africa region at Merrill Lynch, said: "The launch of this new certificate reaffirms Merrill Lynch's commitment to driving growth in the GCC markets and our focus on leading innovation through the development of liquid and accessible innovative financial instruments."
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Merrill Lynch lists new certificates on DIFX TraX platform
- United Arab Emirates: Wednesday, September 10 - 2008 at 14:40
- PRESS RELEASE
Merrill Lynch today announced that it will list a new Certificate (10Y-GCC Hedge Basket Inverse Tracker Certificate) on the DIFX TraX, the structured products platform of the Dubai International Financial Exchange (DIFX).
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About Merrill LynchMerrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 40 countries and territories and total client assets of approximately $1.6 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns approximately half of BlackRock, one of the world's largest publicly traded investment management companies with more than $1 trillion in assets under management.
In January 2007, Merrill Lynch established a new regional office at the Dubai International Financial Centre allowing the firm to conduct its full suite of global markets & investment banking activities in the region whilst regulated by the Dubai Financial Services Authority.
In 2006, Merrill Lynch launched the Dubai Investible Index (DII), the first investible designed to track stocks listed on the Dubai Financial Market. In May 2007, Merrill Lynch launched its Direct Market Access platform on the Dubai International Financial Exchange (DIFX) and then became a member of the Dubai Mercantile Exchange. Additionally this year, the firm announced a partnership with the Arab International Woman's Forum. Established in 2001 as the first not for profit organization of its kind, AIWF has brought together Arab and international business and professional woman from over 40 countries, showcasing their development, promoting cultural diversity and creating greater public awareness of woman's success and prospects in the Arab world.
Posted by Eman HassanWednesday, September 10 - 2008 at 14:40 UAE local time (GMT+4)
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