It is sometimes more advantageous to trade a stock "on swap" rather than buying or selling physical shares. Scotia Capital offers total return equity swaps as part of its prime brokerage product so that managers have a choice in how they gain exposure to equities, long or short. Financing and execution rates are consistent with cash trading and all swaps are conducted under industry standard ISDA documentation.

For more information please contact:

Sales

London
Mark Cameron
+44 207 826 5913
mark_cameron@scotiacapital.com

Toronto
Russell Gibbons
+1 416 945 6719
russell_gibbons@scotiacapital.com