Short Mini-Future

Underlying: Richemont SSPA/EUSIPA Product Type: Mini-Futures (2210) SIX symbol: FCFRZU / Valor: 31264477 / ISIN: CH0312644773

Last update 09.12.2016
  • Bid

    0.19 CHF
    Volume: --

  • Ask

    0.20 CHF
    Volume: --

Key figures

Leverage16.92
Spread0.01 CHF / 5.00%
Trading placeSIX SP Exchange
Settlementcash

Tax information Switzerland

Withholding taxNo
Swiss income taxNo
EU savings taxNo
Stamp taxNo

Product calendar

Fixing date22.01.2016
Stop loss touch date21.09.2015

Stop loss information

Stop loss69.693745 CHF
Financing level71.473433 CHF
Last update30.09.2016 04:17:58
Underlying price1)67.50 CHF
Distance to stop loss1)2.193745 CHF (3.25%)
Stop loss touchedNo

SSPA risk figures

SSPA risk classVery high (6)
SSPA VaR43.76%
SSPA risk calculated on08.12.2016

Redemption detail

Cash fraction0.098 CHF

UBS Mini-Futures

The performance of a UBS mini future is relatively easy to understand, since it moves more or less in step with the underlying asset. With a UBS Mini Futures Long, investors who are willing to take risks can speculate on rising prices, and with a mini futures short, on falling prices of the underlying asset (e.g. equities, indices, currency pairs, interest rates, commodities). Since investors have to finance only a small portion of the underlying asset themselves, a leverage effect is created. As issuer, UBS pays the rest, i.e. the financial level. If the underlying asset of a long mini future appreciates significantly, for example, investors will earn above-average profits. The higher the financing level, the greater the leverage.

But borrowing money also costs interest. The issuer charges the investor for the financing costs by adjusting the financing level on a daily basis. The name "mini futures" reminds us that these instruments operate much like standard futures contracts, i.e. futures, but unlike these their maturities are not limited. Another important difference compared to conventional futures is that investors never have to furnish additional funds for UBS mini futures, as the instruments have an automatic loss limitation function called the stop loss level. If the underlying asset moves in an undesired direction and reaches the stop loss level, the mini future expires with immediate effect. In this case, the issuer calculates the remaining value and disburses it to the investor – provided it is not zero. The stop loss level for long mini futures is set slightly above the financing level and in the case of short mini futures slightly below. The stop loss level therefore limits the risk and prevents an obligation to pay further capital. If the stop loss level of the underlying price is reached or exceeded, a considerable loss of the invested capital can be expected (total loss is possible).

In addition, investors must take into consideration the issuer risk, since loss of the invested capital could occur if UBS AG becomes insolvent, regardless of the performance of the underlying asset and other market parameters.

You can find a more detailed product description in our brochure "Knowledge in a nutshell".

1) Prices are 15 Min. delayed