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Express-Zertifikate (Das Europäische Trader-Handbuch): Das Autocall-Handbuch für Händler europäischer strukturierter Produkte
Paperback
Series: Das Europäische Trader-Handbuch, Book 5
Please select the version of book you would like to purchase.
ISBN13: 9798183909753
Publisher: Independently Published
Published: Jun 23 2026
Pages: 198
Weight: 0.60
Height: 0.42 Width: 6.00 Depth: 9.00
Language: German
Publisher: Independently Published
Published: Jun 23 2026
Pages: 198
Weight: 0.60
Height: 0.42 Width: 6.00 Depth: 9.00
Language: German
In Italien ist das Expresszertifikat -- der Autocall -- das umsatzstärkste strukturierte Produkt am SeDeX-Segment der Borsa Italiana. Jedes Jahr wechseln Milliarden von Euro in dieser einzigen Produktkategorie an einer einzigen Börse den Besitzer. Deutsche und österreichische Investoren handeln sie in grossem Umfang an der Euwax und in Frankfurt. Dennoch existiert kaum eine praxisorientierte Erklärung, wie diese Produkte tatsächlich funktionieren.
Dieses Buch ist genau diese Erklärung. Es behandelt die vollständige Mechanik von Express- und Autocall-Zertifikaten, sechs wichtige Produktvarianten und zwei systematische Einkommensstrategien -- konzipiert für anspruchsvolle europäische Privatanleger, die Autocalls als überlegten, klar dimensionierten Baustein eines Einkommensportfolios einsetzen möchten.
Was Sie nach der Lektuere koennen:
Typische Kuponsätze nach Produktvariante sind quantifiziert (6-8% für klassische Indizes, 10-13% für Sprint, 10-15% für Worst-of-Baskets), und ein vollständig durchgerechnetes Drei-Zertifikate-Portfoliomodell ist enthalten. Die steuerliche Behandlung deckt Deutschland, Österreich, die Schweiz und Italien ab, mit einem dreisprachigen Glossar auf Englisch, Deutsch und Italienisch.
Für renditeorientierte europäische Investoren, die bereit sind, Short-Volatilität-Exposition einzugehen -- im Austausch für regelmässige, überdurchschnittliche Kupons.
Teil der Reihe The European Trader's Handbook.
Was Sie nach der Lektuere koennen:
- Genau verstehen, wie Beobachtungstage, Express-Levels, Barrieren und Memory-Kupons zusammenwirken, um die Auszahlung in jedem möglichen Szenario zu bestimmen
- Zwischen Classic Express, Phoenix Autocall (Memory-Kupon), Athena Autocall (Step-Down-Trigger), Sprint Express, Capital-Protected Express und Callable Express unterscheiden -- und wissen, welches Produkt wann einzusetzen ist
- Eine gestaffelte Autocall-Einkommensleiter über 4-6 Zertifikate aufbauen und steuern, diversifiziert nach Emittent, Sektor, Geographie und Beobachtungstag
- Die ereignisgetriebene Autocall-Strategie umsetzen: Einstieg nahe an Beobachtungstagen, wenn der Basiswert nahe am Express-Level notiert, um beschleunigte Zeitwertkompression zu nutzen
- Worst-of-Basket-Strukturen anhand einer Korrelationsanalyse bewerten und angemessen dimensionieren (maximal 3% des Portfolios)
- Den italienischen SeDeX-Markt mit einem Schritt-für-Schritt-Workflow für Fineco, Widiba und andere italienische Plattformen navigieren
Typische Kuponsätze nach Produktvariante sind quantifiziert (6-8% für klassische Indizes, 10-13% für Sprint, 10-15% für Worst-of-Baskets), und ein vollständig durchgerechnetes Drei-Zertifikate-Portfoliomodell ist enthalten. Die steuerliche Behandlung deckt Deutschland, Österreich, die Schweiz und Italien ab, mit einem dreisprachigen Glossar auf Englisch, Deutsch und Italienisch.
Für renditeorientierte europäische Investoren, die bereit sind, Short-Volatilität-Exposition einzugehen -- im Austausch für regelmässige, überdurchschnittliche Kupons.
Teil der Reihe The European Trader's Handbook.
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