Rydex Investments said the Euro Currency Shares, the first currency exchange-traded fund, will begin trading on the New York Stock Exchange under the symbol "FXE" today. The euros in the trust will be held in London by JPMorgan Chase Bank, the ETF’s depository, according to a statement.
Each share of the ETF will represent 100 euros plus accrued interest, according to Marketwatch and Rydex, the fund’s sponsor, which says the fund is eligible for short sale and margin purchases. ETFs are listed on exchanges and trade throughout the day like individual securities.
(Tom Lydon is on the board of directors of Rydex Investments.)
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