By: Tien Yu-pin and Frances Huang
Taipei, Jan. 26 (CNA) Yuanta Securities Investment Trust Co. (元大投信), a subsidiary of Yuanta Financial Holding Co. (元大金), is set to issue two exchange traded funds (ETFs) which will track the Japanese yen, according to the Taiwan Stock Exchange (TWSE).
The TWSE, which operates the local main board, said that a meeting of the exchange has given the greenlight to the applications submitted by Yuanta to launch ETFs that will independently track the S&P Japanese Yen Futures 2x Leverage Daily ER Index and the S&P Japanese Yen Futures 1x Inverse Daily ER Index.
When Yuanta issues the two ETFs, they will be the first on the local main board to either generate double returns when the yen moves higher or rake in profits when the Japanese currency moves lower. [FULL STORY]