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ETF Securities continues European expansion with German appointment


ETF Securities, which has launch Exchange-Traded Commodities products on five European stock exchanges, has continued the expansion of its European sales team with the appointment of Micha

ETF Securities, which has launch Exchange-Traded Commodities products on five European stock exchanges, has continued the expansion of its European sales team with the appointment of Michael Geister with responsibility for sales in Germany and Austria.

According to the firm, Geister’s appointment is a response to growing investor demand in the German-speaking market following the listing of a platform of ETC products on Deutsche Börse last November and the launch of a range of physically-backed precious metal ETCs on the Frankfurt exchange in May. Germany is currently the largest market for exchange-trade funds in Europe, accounting for around half of all the continent’s ETF business.

Geister, who was previously with Société Générale’s corporate and investment banking business in Paris, London and Frankfurt, will work alongside Tim Harvey, the dedicated German securities specialist appointed by ETF Securities earlier this year. His brief will be to boost sales through online brokers and banks.

Says chairman Graham Tuckwell: ‘Following our listings of ETCs on Deutsche Börse in November, and recently the range of physically-backed precious metals, we have seen a significant amount of money invested into these products in Germany. The next logical step was clearly to appoint a sales specialist for the German speaking-market.’

ETF Securities recently appointed William Rhind as head of UK and Irish sales and recruited Peter Saunders, Massimo Siano and Helen Burden to the sales team in March.

ETCs are designed to offer investors a simple, cost-efficient and secure way to access the precious metals market by enabling them to gain exposure to commodity prices without trading futures or taking physical delivery. They provide investors with a return equivalent to movements in their spot price less a small management fee that accrues daily.

Investors can buy and sell ETCs through regulated brokers or approved market-makers. They can be traded with all the same order types available to equities, including market, limit and stop orders, and they can also be shorted through stock borrowing or contracts for difference.

In the same way as exchange-traded funds, ETCs are open-ended securities that can be created or redeemed on demand provided that the relevant amount of metal is delivered to the custodian by authorised participants or market-makers, which currently include Flow Traders, Nyenburgh, Susquehanna, Morgan Stanley, Barclays Capital, UBS, ABN Amro, HVB, HSBC, Merrill Lynch, Citigroup, Winterflood and JP Morgan.

The management of ETF Securities pioneered the world’s first listing of an ETC, Gold Bullion Securities, in Australia and London in 2003. The firm’s full ETC platform was listed on the London Stock Exchange last September and subsequently in Frankfurt, Paris, Amsterdam and Milan, with each exchange creating a separate ETC segment.

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