I'm migrating to Australia and would like to know if any Australian brokers offer the equivalent of a product that my local broker (not in Australia) offers.
It's basically a derivative with no end/expiry date the value of which is determined by the value of the underlying relative to a preset level. Should the underlying reach the preset level the product becomes worthless, but no more than the price paid can be lost. (i.e. they can't go negative, they can't put the owner in debt)
An example is B SHRTDAX KS CBK (ISIN DE000CR4XC26) issued by Deutsche Bank. (prospect http://prospect.ngm.se/prospect-en_U...0123154601.pdf)
Locally the product is referred to as "mini futures" but it doesn't seem to be the same type of product as those referred to as mini futures in e.g. the US or Australia.