What are Benchmark Certificates?

BenchmarkA Benchmark used to compare the performance of a portfolio with the market trend. Its function is to inform investors, intermediaries and supervisory authorities on the share price of a set of securities (equity/shares, bonds, mixed). It is a preference point that allows the risk profile to be identified and a comparison made with respect to the performance of their investment. Certificates are financial instruments without capital protectionThe term protection means the minimum percentage of invested capital that is returned at maturity. suitable for investment with the aim of replicating upward or downward (depending on whether they are Long or ShortWhen a financial instrument is sold a short position (or short) is open. BenchmarkA Benchmark used to compare the performance of a portfolio with the market trend. Its function is to inform investors, intermediaries and supervisory authorities on the share price of a set of securities (equity/shares, bonds, mixed). It is a preference point that allows the risk profile to be identified and a comparison made with respect to the performance of their investment. Certificates) the performanceThe performance of a financial instrument indicates the percentage change in the value of the same in a given time frame. Performance can be expressed both in absolute and relative terms. of an underlyingThe Underlying asset is the activity such as a share, stock index currency, commodity or any other real( e.g. raw materials) or financial asset( an exchange rate or interest rate) upon which the value and price of the Certificate is dependent. financial asset, such as for example a stock or sector index, a commodityThe term commodity essentially indicates a basic good such as, for example, metals, minerals, agriculture and livestock and other physical assets, on which investors can trade through the use of derivatives., an exchange rate, an ETFAn acronym for Exchange Traded Fund. ETFs are funds that mirror the performance of an Underlying and are purchased just like shares. They must guarantee a certain level of diversification and cannot be invested directly in commodities. or a fund. They may provide for a remuneration in favour of the IssuerThe issuer is the entity that issues financial instruments in order to raise finance. The most common issuers of financial instruments tend to be: Public and private companies, the State or transnational organizations. of the CertificateCertificates are securitized instrument derivatives linked to the performance of an Underlying, whether, for example, shares, a stock index, a currency, a commodity or an interest rate. Certificate are traded, in Italy, both on the SeDeX as well as on the EuroTL X multilateral trading facilities of the Italian Exchange., called Annual Management Fee or AMFt, which is a fee charged to the investor, calculated by applying a predefined formula which takes into account the AMF Percentage and which reduces the settlement amount for the investor; being calculated progressively and daily, it affects the market value of the CertificateCertificates are securitized instrument derivatives linked to the performance of an Underlying, whether, for example, shares, a stock index, a currency, a commodity or an interest rate. Certificate are traded, in Italy, both on the SeDeX as well as on the EuroTL X multilateral trading facilities of the Italian Exchange. throughout its entire life.