UBS admits 69 ETCs to London Stock Exchange
- Issuer chooses London for main European ETC offering
The London Stock Exchange today announces that UBS has become a new issuer of Exchange Traded Commodities (ETCs) on its markets. The bank has admitted 69 products in its first major issuance of ETCs in Europe outside Switzerland.
Pietro Poletto, Head of ETFs and ETCs at London Stock Exchange Group, said:
“We are delighted to welcome UBS’s new products today. London is fast becoming the venue of choice for issuers looking to break into the European marketplace for exchange traded products. Our market continues to evolve at an encouraging pace as both the breadth of products, and the level of trading activity, maintain trends of strong growth.”
In the last four weeks two European Exchange Traded Fund (ETF) providers, Osmosis Capital and Marshall Wace Indices, have chosen the London Stock Exchange on which to list their first products.
The average daily value traded in ETFs and ETCs across the London Stock Exchange’s markets in February was £169 million, a 19 per cent increase year-on-year. The average daily number of trades was 3,002, an increase of 11 per cent year-on-year.
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About London Stock Exchange Group:
London Stock Exchange Group is Europe's leading diversified exchange business, incorporating Borsa Italiana and the London Stock Exchange. With over 500 member firms and more than 3,000 companies quoted across its markets, the Group operates the largest and most liquid equity marketplace in Europe.
The London Stock Exchange itself is the world's most international exchange with more than 600 overseas companies from over 70 countries. These figures include international companies quoted on the Alternative Investment Market (AIM), the London Stock Exchange's growth market, and the world's most successful market for small and medium sized enterprises with over 1,200 companies.
The Group offers trading in a wide range of instruments, holding the number one position in the trading of exchange-traded products (ETFs and ETCs) and through its interest in MTS, is Europe’s leading platform for the trading of fixed income products. Through the Order Book for Retail Bonds and Mercato Telematico delle Obbligazioni (MOT) the Group also offers a comprehensive range of UK and European corporate and government bond trading services. Its Italian Derivatives Exchange Market (IDEM) sees over €2.5 billion worth of trading every day and through EDX London the Group provides a facility for the trading of Scandinavian and Russian equity derivatives.
London Stock Exchange Group also offers post-trade services such as netting, clearing and settlement on an efficient and competitive basis. These include services from Monte Titoli, the Central Securities Depository for all Italian financial instruments, and Cassa di Compensazione & Garanzia (CC&G), which in July 2009 was granted Recognised Overseas Clearing House (ROCH) status by the FSA to operate in the UK.
With the acquisition of MillenniumIT, the Group encompasses a leading developer of low cost high performance trading platforms and financial markets software serving both the industry and the Group's own businesses.
Since February 2010 London Stock Exchange Group has owned a majority stake in Turquoise, a Mulitlateral Trading Facility (MTF) providing pan-European lit and dark equity trading in some 1,700 securities across 17 countries.