Earlier this year, SIX launched a watchlist service covering over 30,000 financial instruments in connection with marijuanua-related businesses, or MRBs, following the success of its SIX Sanctioned Securities Monitoring Service.
The legal landscape around marijuana is complex and constantly changing, the company told Benzinga.
“Investing in MRB can be risky: some countries in Europe and the USA consider it money laundering. As a result, it is critical for firms worldwide to know exactly how much exposure they have to MRB-linked securities, and which category the securities fall into, when the regulator calls.”
More Than 30K Securities
The MRB Securities service from SIX, built on the same model as its Sanctioned Securities Monitoring Service, identifies and lists securities that are either directly or indirectly issued by listed MRB entities.
This includes any related structured products, options and warrants. The service will also help financial institutions identify the risk level of any given company, according to SIX.
MRB-linked securities touch multiple sectors, including pharmaceutical, recreational, transport and retail.
The relevant data sources applied by SIX have identified more than 30,000 securities associated either directly or indirectly to MRB.
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“[Legislation is] quite disparate and ... our clients wish to receive lists with securities and issuers that are directly linked or associated to marijuana-related businesses so that they can organize their defense lines in accordance with their MRB policies and regulations,” a SIX representative said.
With no international rules or regulations in place, the MRB securities list is producd using external sources, SIX said.
The company maintains a database of companies that fall into the sector or are related via capital.
The marijuana-related securities watchlist produces lists of issuers, securities, structured products and traded options and futures twice daily.
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