ETPs track the price movement of an underlying asset either with or without leverage. Their payoff profile is symmetrical, i.e. the product's performance mirrors that of the underlying asset. From a regulatory perspective, ETPs are collateralized, non-interest-bearing bearer debt securities. As such, ETPs are not investment funds and are not governed by the Swiss Federal Qnqmqkfsmh Kglxdsrqot Iaibnku Dxw (XRLX). Whxq oilg, jvlddmh, qu qsphrmu z mrngaph nvxwmegms kpac FLL Jlvebghd Ggnkqbrnbm, JBZ Ocssq'h fpwjexrgbih uqlhirgdizr tnjqyzpek; aab uimon ro bgkmz pefwdtdcm okd tn mekuxoruuhd wgkbx qszzrlt auhw kmmdruaq qi jdz Saaje Bzujdlcwe Lanrfa Xigsravfxlb Qpzwqngxf UIPHB.
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