Equitized Currency Trust for Real-Time Currency Trading

A system for administering a financial instrument, the system comprising:

• a computer system configured to coordinate with a securities exchange to trade shares of an equitized currency trust wherein an underlying value of the equitized currency trust is based solely on a plurality of currencies from a corresponding plurality of countries;
• the computer system configured to price the shares of the equitized currency trust in a currency not contained in the plurality of currencies, and priced in the currency of the country in which the shares of the equitized currency trust are traded, and where each share of the equitized currency trust includes an integer number of units of the plurality of currencies;
• wherein the computer system processes an order from an Authorized Participant for greater than 50,000 shares in exchange for the plurality of currencies, and wherein the computer system takes a directive from the Authorized Participant for redemption of greater than 50,000 shares in exchange for the plurality of currencies.

A method of managing an equitized currency trust whose underlying value is based on a plurality of currencies from a corresponding plurality of countries, and whose shares are priced in a second currency different from the plurality of currencies, the method comprising:

• exchanging, using a computer system, at least 50,000 shares in the equitized currency trust to one or more underwriters for integer units of the plurality of currencies, each share representing an ownership interest in a plurality of units of the plurality of currencies, and being priced in the second currency;
• and
• receiving, with a computer system, a directive from the one or more underwriters for redemption of greater than 50,000 shares in exchange for the plurality of currencies.