Daily leverage certificates (DLCs) are high-risk financial products that give investors a leveraged return based on the daily performance of an underlying reference instrument (e.g. a securities index like the Straits Times Index).

 

The leverage amplifies the movement of the reference instrument, thus giving you outsized returns – and losses. DLCs may be either "long" or "short", and allow you to bet on both the rises and falls of the reference instrument.