Dual Currency Deposit (DCD)

From a journalist:

In Europe the DCD (dual currency deposit) product is generally only marketed to High-net-worth individuals through private banks and is rarely seen in any retail networks, probably because many retail investors in Europe don't speculate in currencies. But in Asia the DCD is a very popular instrument among retail investors.

The product is relatively simple but, as is emerging now, dangerous too. There is no protection on the product and when steep currency movements occur the deposit can be hit badly.

I'm looking into number of products that are denominated in either SG$ or HK$ against the Aus$. About a month ago a lot of investors got burned, and i believe the same has happened over the past week. I will probably also incorporate FX accumulator and decumulator products in the story as there has been some movement there too.

Action: If you have invested in these products and had suffered large losses, and wish to shrae your story (maybe not using your real name), you can send your story to kinlian@gmail.com