Market Vectors Chinese Renminbi/USD ETN (CNY) Covered Calls

Market Vectors Chinese Renminbi/USD ETN covered calls The investment seeks to replicate, net of expenses, the S&P Chinese Renminbi Total Return Index. The index tracks the value of the Chinese RMB relative to the U.S. dollar.

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Extended Business Description

Morgan Stanley is a global financial services firm which, through its subsidiaries and affiliates, provides investment banking products and services to its clients and customers including corporations, governments, financial institutions, and individuals. It operates through the following segments: Institutional Securities, Wealth Management, and Investment Management. The Institutional Services segment provides financial advisory, capital-raising services, and related financing services on behalf of institutional investors. The Wealth Management segment offers brokerage and investment advisory services covering various types of investments, including equities, options, futures, foreign currencies, precious metals, fixed-income securities, mutual funds, structured products, alternative investments, unit investment trusts, managed futures, separately managed accounts, and mutual fund asset allocation programs. The Investment Management segment provides equity, fixed income, alternative investments, real estate, and merchant banking strategies. The company was founded by Harold Stanley and Henry S. Morgan on September 16, 1935 and is headquartered in New York, NY.