No securitisation here 10:49 Apr 8, 2009
Douglas, I don't think that "verbrieft" here means "securitised" or "collateralised", as it normally would in financial texts. After all, warrants and leverage certificates aren't secured in the classic sense - they're derivatives (leverage products). I think what this "verbrieft" means here is that these are packaged into easily digestible forms for retail punters (aka fools who are only too willing to part with their money), so maybe "retail derivative products" or "retail futures and options" would be a more appropriate way to say this in English. Something to discuss with the client, I think. |