Many underlying securities for warrants and certificates are denominated in foreign currency on their home exchange (e.g. Japanese shares are price in JPY). Because the value of such products at maturity is calculated on the basis of a foreign currency, the investor assumes an additional foreign exchange risk when buying such products. In the case of structured products with an additional "quanto", those products have a built-in currency hedge that protects investors from foreign exchange fluctuations.
Quote
The continual bid and ask prices issuers post for their structured products are referred to as "quotes". A quote always consists of the security symbol, security number (ISIN), a bid price including the associated size, as well as an ask price with the corresponding size.
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