Montag, 19. September 2011

Langsam, aber sicher: Gold wird wieder zur "Währung"

SIX Securities Services has successfully settled a number of transactions against gold with pilot clients.

The SIX Securities Services settlement team significantly reduced time-to-market for this product by treating gold as a settlement currency as well as a foreign currency (XAU).

The value of one XAU unit is defined as one troy ounce of gold valued in US dollars.

Clients wishing to settle transactions against gold will need to have an XAU account with SIX Securities Services (through its CSD - SIX SIS Ltd) and they need to ensure that their account is adequately funded - as would be the case with any other currency.

Based on this innovation, SIX Swiss Exchange and Scoach Switzerland are planning to introduce the listing and trading of structured products denominated in XAU in October.


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