Spiko Dollar

The only fee for using Spiko Dollar is an annual management fee of 0.25% on your deposited funds, calculated daily on a prorated basis. The interest displayed on our website or in our app is always shown net of fees. There are no fees for maintaining a Spiko account, and deposits and withdrawals are free of any transaction charges. Last but not least, there are no custody fees.

Your funds are backed by a Tier 1 bank and are at risk only in the unlikely event of its default. In such a case, your funds remain protected by the portfolio of securities wholly owned by Spiko's funds, which would be promptly liquidated to minimize any potential losses. In the event of residual losses following the liquidation of the securities portfolio, Spiko Euro would hold a senior claim on the bank.

First and foremost, you have no financial exposure to Spiko’s insolvency, as your funds are never on Spiko’s balance sheet. When you deposit funds, they are transferred directly from your checking account to the depositary bank. Likewise, withdrawals are sent straight from the depositary bank to your designated bank account. The account must be in your name, as Spiko cannot be used as a payment method.

That said, Spiko’s insolvency could affect you operationally, as the platform might no longer be available for placing withdrawal orders, for example. Fortunately, Spiko’s products are regulated and supervised by the French Financial Markets Authority (AMF), and their operation does not depend on the distributor. In practice, you can always place your withdrawal orders through the management company by phone or email.

Only global systemically important banks. Specifically: BNP Paribas, Société Générale, Crédit Agricole CIB, Natixis, Goldman Sachs, J.P. Morgan, Citi, Morgan Stanley, Barclays, UBS, BBVA, HSBC, Santander, and Bank of America.

Holding financial instruments on its balance sheet is costly for a bank due to the associated regulatory capital requirements. A bank is therefore willing to pay a rate above the risk-free rate to an institutional intermediary like Spiko Euro, Spiko Dollar, Spiko Pound, Spiko Swiss Franc to hold these financial instruments on its behalf. This is a mutually beneficial arrangement: Spiko's funds aims to earn an attractive return on cash, while the bank gains exposure to the performance of a portfolio of financial instruments without carrying it on its balance sheet.

Amundi records the market value of Spiko Dollar's equity basket every afternoon.

• If the market value has increased compared to the previous day, Amundi sells the number of shares required to bring the basket back to its initial value and transfers the proceeds to BNP Paribas.
• If the market value has decreased, BNP Paribas pays the shortfall so that Spiko Dollar can repurchase shares and restore the basket to its initial value.
• Regardless of market conditions, BNP Paribas pays SOFR + 0.35% daily to Spiko Dollar.

Numerical examples for Spiko Dollar, based on an equity basket valued at $100:

• Scenario 1 - Basket ends the day at $95: BNP Paribas pays $5 to Spiko Dollar, plus SOFR + 0.35%.
• Scenario 2 - Basket ends the day at $105: Spiko Dollar pays $5 to BNP Paribas, while BNP Paribas pays SOFR + 0.35% to Spiko Dollar.

You can find the prospectus and the key information document (KID) here.