Rydex Investments has filed to launch 4 new CurrencyShares platforms. These platforms will allow traders and investors to purchase “Baskets” for the specific currency. Therefore, the share price of each trust will reflect the market value of the specific currency compared to the USD. Shareholders will earn an income if the specified currency appreciates compared to the USD.
Be advised that these tickers below do not look set because the "FX" prefix on each is base part of the ticker and a seperate letter has to be added on the end. The four new platforms include:
CurrencyShares Russian Ruble Trust (NYSE Arca: FX [ ]) (full filing)
Each share is worth 2,000 Rubles
CurrencyShares Hong Kong Dollar Trust (NYSE Arca: FX [ ]) (full filing)
Each share is worth 1,000 Hong Kong Dollars
CurrencyShares South African Rand Trust (NYSE Arca: FX [ ]) (full filing)
Each share is worth 1,000 South African Rands
CurrencyShares Singapore Dollar Trust (NYSE Arca: FX [ ]) (full filing)
Each share is worth 100 Singapore Dollars
The acting Trustee is The Bank of New York. JP Morgan Chase Bank, N.A., London Branch will be the Depositor for the Trust. Each platform will initially issue approximately 150,000 shares at various price values as listed below.
Rydex has already launched 8 similar Trusts for the following currencies:
Euro (NYSE Arca: FXE), Japanese Yen (NYSE Arca: FXY), Mexican Peso (NYSE Arca: FXM), Australian Dollar (NYSE Arca: FXA), Swiss Franc (NYSE Arca: FXF), Canadian Dollar (NYSE Arca: FXC), British Pound Sterling (NYSE Arca: FXB), and the Swedish Krona (NYSE Arca: FXS). As the dollar has largely depreciated compared to many currencies over the past few years, the shares prices for these Trusts has steadily increased since their initial offering.
May 7, 2008