Can an AMC Be Listed in a Different Currency Than EUR?
You want to list your AMC in USD. We get it. Here's why we'll talk you out of it.
Your strategy is 100% USD. EUR/USD moves are messing with your performance numbers. Investors are asking questions. The fix seems obvious, right?
"Just list the AMC in USD."
Wrong move. And here's why
Changing your listing currency from EUR to USD doesn't fix your problem. It trades a small headache for a full-blown crisis.
Stuttgart Stock Exchange? No USD clearing at most banks & brokers
Vienna Exchange? Same story - most setups are EUR-only
Interactive Brokers - 2M+ clients, 200+ countries - can't settle it
You wouldn't be solving a currency problem. You'd be creating a product nobody can physically buy.
Right now your EUR-listed AMC has:
Stuttgart Stock Exchange - Europe's go-to ETI venue, daily market making
Full access via banks and brokers such as Interactive Brokers, UBS, Joebroker etc.
Retail public offering in EEA and Switzerland
Burn that down for a USD listing? That's not an upgrade. That's self-sabotage.
The Real Solution
Here's the fix: simply hold your underlying assets in USD. The ETI trades in EUR and the chart shows in EUR - but if the underlying assets are held in USD, the currency risk disappears. Just like investing in a S&P 500 ETF: it makes no difference whether you buy it in USD or EUR - in both cases you're exposed to the underlying USD performance.
The listing currency is just the wrapper. The underlying is what drives performance.
So while the EUR/USD exposure is real - it's mostly a communication challenge, not an infrastructure one. Educate your investors on FX dynamics and your investment strategy. Adjust your reporting. Keep the listing that actually works.
The real pain isn't FX exposure. It's building a product nobody can buy.
Would you like to learn more about iMaps AMCs? Let’s talk!
PS: You can use the following links to easily book an e-meeting with us: https://meetings.hubspot.com/jeffrey-alldis (Jeffrey Alldis) or https://meetings.hubspot.com/herbert-hakala (Herbert Hakala)
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