A tracker certificate is a certificate issued by a bank or financial institution. A tracker certificate reflects the change in value of the underlying asset’s price movement 1: 1. The underlying asset can be, for example, a share, a bond, a commodity, a currency or a combination of different underlying assets. A tracker certificate usually has a long maturity and symmetrical return that follows the underlying price movement 1: 1. Tracker certificates give the possibility of returns in rising market (referred to as Bull) and falling market (referred to as Bear).