Exchange-traded notes (ETNs) are a type of debt security that tracks an underlying index of securities. These are similar to exchange-traded funds (ETFs), but they are not backed by any assets. Instead, they are issued by a financial institution, and their value is based on the performance of the underlying index. ETNs can be used to track various asset classes, including stocks, bonds, commodities, and currencies. This makes them a versatile investment tool that can be used to achieve various investment goals.
Because these investments may earn interest on the currency that they are tracking, the interest that is earned on the currency is passed on to the investor in the form of dividend payments. For example, a currency ETN that tracks the euro would earn interest on the euro. The interest that is earned on the euro is passed on to the ETN noteholders in the form of interest payments.
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NewWave USD ETN will be paying accrued interest of R0.37 per USD note.
NewWave GBP ETN will be paying accrued interest of R0.48 per GBP note.
NewWave EURO ETN will be paying accrued interest of R0.28 per EURO note.
These ETNs are available in the EasyZAR account, and like companies, the "last date to trade" refers to the date on which notes eligible for the upcoming interest payout can be bought.
EasyFx allows investors to transfer funds from the ZAR account into different international accounts, including EUR, USD, and GBP. This costs 0.50% (50 basis points) of the total amount being transferred. To initiate a transfer, navigate to "My Funds" and then select "Transfer."