Cube

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Important Notice

This website is maintained by CET Capital Limited which is a limited company registered in England. Its registered offices are at 55 Bryanston Street, London, W1H 7LZ. CET is authorised and regulated by the Financial Conduct Authority no. 446267.

This website is provided for your general information only and does not constitute investment advice or an offer to sell or the solicitation of an offer to buy any investment.

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Retail Investors

Structured products are “complex instruments” this means that they will only be appropriate for you if you have sufficient knowledge and experience. In order to access the site you need to be able to agree to all of the following statements

Exclusion of Liability

Certain documents made available on the website have been prepared and issued by persons other than ***. This includes any Prospectus. *** is not responsible in any way for the content of any such document. Except in those cases, the information on the website has been given in good faith and every effort has been made to ensure its accuracy. Nevertheless, *** shall not be responsible for loss occasioned as a result of reliance placed on any part of the website and it makes any warranty as to the accuracy of any information or content on the website. The description of any ETP Security referred to in this website is a general one. The terms and conditions applicable to investors will be set out in the Prospectus, available on the website and should be read prior to making any investment.

Risk Warnings

You should always bear in mind that;

  • You already hold other retail investments like funds, investment trusts or structured products
  • You would consider yourself to be a knowledgeable and informed investor
  • You understand the way that the investment return, the maturity value and any income are calculated by reference to the performance of underlying assets
  • You realize that you are not investing in the underlying assets but instead into a products whose performance is linked to these assets
  • You are prepared to invest into products where your capital is at risk
  • You have sufficient financial resources to be able to accept a loss on investments you make
  • You understand that the investment return and any coupon that you receive from structured products will depend on the performance of the underlying assets, and so you may not receive any investment return or income
  • The return of the capital may also be linked to the performance of the underlying assets. You understand how this is calculated, and appreciate that the amount that you receive back when a product matures may be less than you paid for it
  • The defined value of each product will only be realised if the product is held to the maturity date. You understand that if you sell a product before the maturity date you will not get the defined value, and the amount that you receive may be less than the amount that you invested.
  • You understand that if the issuer is unable to meet their obligations to pay the amount due when the product matures, that you will not receive the defined value and will loose some or all of the money you have invested
  • You understand that there are charges built into structured products.
  • You understand the personal tax implications associated with investing in structured products

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The information provided on this site is not directed to any United States person or any person in the United States, any state thereof, or any of its territories or possessions.

Persons accessing this website in the European Economic Area.

Exclusion of Liability

Certain documents made available on the website have been prepared and issued by persons other than CET Capital Limited. This includes any Prospectus. CET Capital Limited is not responsible in any way for the content of any such document. Except in those cases, the information on the website has been given in good faith and every effort has been made to ensure its accuracy. Nevertheless, CET Capital Limited shall not be responsible for loss occasioned as a result of reliance placed on any part of the website and it makes any warranty as to the accuracy of any information or content on the website. The description of any Security referred to in this website is a general one. The terms and conditions applicable to investors will be set out in the Prospectus, available on request and should be read prior to making any investment.

Risk Warnings

Investments of the type described therein may involve a high degree of risk, and the value of such instruments may be highly volatile. Such risks may include, without limitation, risk of adverse or unanticipated market developments, risk of counterparty or issuer default and risk of liquidity. Accordingly you must independently determine, with your own advisors, the appropriateness for you of the securities/transaction before investing or transacting. You should always bear in mind that;

  • The investment performance of any security referred to on this website can be volatile and can go up or down and you can lose your entire investment.
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(2) I CONFIRM THAT I AM NOT A RESIDENT OF THE UNITED STATES AND UNDERSTAND (A) THAT THE INFORMATION THAT FOLLOWS IS ONLY BEING OFFERED TO AND IS ONLY INTENDED TO BE AVAILABLE TO PERSONS WHO ARE NOT RESIDENTS OF THE UNITED STATES AND (B) THAT CET AND ITS AFFILIATES WILL RELY ON THE ACCURACY OF THIS INFORMATION

Please read and agree to the following statements

Structured products are “complex instruments” this means that they will only be appropriate for you if you have sufficient knowledge and experience. In order to access the site you need to be able to agree to all of the following statements

  • I already hold other retail investments like funds, investment trusts or structured products
  • I consider myself to be a knowledgeable and informed investor
  • I understand the way that the investment return, the maturity value and any income are calculated by reference to the performance of underlying assets
  • I realize that I am not investing in the underlying assets but instead into a products whose performance is linked to these assets
  • I am prepared to invest into products where my capital is at risk
  • I have sufficient financial resources to be able to accept a loss on investments I make
  • I understand that the investment return and any coupon that I receive from structured products will depend on the performance of the underlying assets, and so I may not receive any investment return or income
  • The return of the capital may also be linked to the performance of the underlying assets.
  • I understand how this is calculated, and appreciate that the amount that you receive back when a product matures may be less than I paid for it
  • The defined value of each product will only be realised if the product is held to the maturity date. I understand that if I sell a product before the maturity date I will not get the defined value, and the amount that I receive may be less than the amount that I invested.
  • I understand that if the issuer is unable to meet their obligations to pay the amount due when the product matures, that I will not receive the defined value and will lose some or all of the money I have invested
  • I understand that there are charges built into structured products.
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Research & Analysis

Cube For Discretionary ManagersMay 27, 2014 - 10:36

Cube Products

Cube products are unbundled securities. They will be London or Irish Stock Exchange listed and Crest settled securities. Our standard process will be to have a 6-week pre-strike offer period through which investors can buy the notes. We will also ask the issuer to maintain the offer for a period after the strike if the issue has not sold out.

The issuer will trade once a day, and publish a daily price on Bloomberg. The issuer will also be able to offer the notes “live” to investors placing an order of more than $pound;1m.

In the pre-strike period the notes will be issued, and this is technically a secondary market period. This pre-strike period can be useful if you know that you have maturities coming up. All of our products will be issued with a retail brochure. This means that they are appropriate for both discretionary and advised clients.

Bespoke Deals

We can work with you to develop new bespoke products. We can price up all structures ourselves, and so keep the banks honest. We will also put one bank up against another to make sure that we get keen prices.

Our bespoke product development proposition aims to ensure that you get the best deal for your clients, and also allows you to demonstrate that the product that you develop with us meets your client's needs.

We will arrange deals for a fixed fee. We will get paid by the bank, but will be open and transparent about what fee we receive from them.

When developing a product we will show you the risk/return of different shapes. This means that you can ensure that the product you are developing meets the needs of your clients, and importantly that you can demonstrate that you have done this.

Our analysis allows us to adjust for the issuer CDS so we can compare different banks.

We are able to do bespoke deals that would be capable of distribution to advised clients as well as discretionary ones.

If you do a bespoke product with us this product will be automatically loaded into our system, this means that you will have access to the updated fact sheet through the term of the product.

We can also offer a fair value on all bespoke deals using the Bloomberg pricing tools. This then allows you to check that the bank pricing remains realistic.

Free Research For Cube Clients

If you buy our products or ask us to arrange bespoke deals for you we will offer you and your research team access to our research. We have about 500 products loaded onto the system and are loading more all the time. Most of the products are retail, we are adding on the private placements as they are sent to us. The analysis is available on-line, and you will be able to download the factsheets.

Our analysis on existing products offers a set of quantitative measures that allow you to form an educated opinion.

Within reason, we will upload products that you already own, or that you are considering;

We are developing a “my portfolio” tool.This would allow you to identify products you own. You will then be able to see your portfolio

  • You would have a personal timeline of events; we can add the probabilities to the events
  • You can set alerts so that if a price rises above, or falls below a set level you are notified
  • The alerts may also be linked to other calculated values; chance of loss, risk, expected return, etc.

Our product selector groups the sort of product you want to look at using risk and investment objective, and then ranks products using a return measure that you can choose. This can be a great way of identifying secondary market opportunities, or of seeing what is the best of the new offers available now.

Research Issuers Pay For

When banks, or other promoters are proposing a new product to you we are happy to run theseshapes through our system, and give you the report before the issue date. This will allow you to see what return you can expect, and how risky the product is. If you as an investor demand this research, the product promoter would pay. We would charge them £500 initially for the report, and £10 per week. This is a trivial amount for them, and will have no impact on the pricing.

Research You Pay For

There are 2 situations where we think that it would be reasonable for you to pay for our research

  • If you wanted to use the analysis to do your own product development. We can give you admin access to our research site. This would allow you to upload and test your own products
  • If you wanted to create and publish your own reports on SP’s using our analysis, we would want to be paid for providing the analysis.

CUBE is a trading name of CET Capital Ltd. CET Capital Ltd (“CET”) is registered in England (No 04986900), with its registered address at 55 Bryanston Street, London, W1H 7LZ. CET is authorised and regulated by the Financial Conduct Authority no. 446267.


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