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Scoach launches index for reverse convertibles

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Scoach, the Frankfurt exchange for structured products, has launched the Scoach reverse convertibles index.

The index enables investors to immediately track average, market-weighted performance of reverse convertibles in different market phases.

Scoach says that since the flat-rate withholding tax has gone into force thus ending tax discrimination of reverse convertibles, this product has been gaining in investor popularity.

"With the Scoach reverse convertibles index, we are promptly addressing our clients’ increased interest in information and supplying representative market tracking based on volume actually invested," says Christian Reuss, chief executive of Scoach Europa.

The Scoach reverse convertibles index is composed of 20 reverse convertibles selected by the European Derivatives Group. Each month, EDG determines these representative products by volume invested. The Dow Jones Euro Stoxx 50 Index serves as the basis.

The new reverse convertibles index supplements Scoach’s existing certificate index family. Scoach has already been publishing indices on discount, bonus, outperformance and guarantee certificates since October 2008.

The index is calculated by Deutsche Börse Market Data & Analytics and disseminated via the CEF data feeds.

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