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ETF Securities to launch world’s largest exchange-traded currency platform

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ETF Securities is planning to launch the world’s largest and Europe’s first exchange-traded currency platform, with trading expected to begin next week.

Currencies are the most liquid asset class with over USD3.2trn of trading each day, yet it is one of the last asset classes to be packaged in the form of an exchange-traded product.

ETF Securities launched the world’s first commodity ETC platform in Europe between 2003 and 2006, which now has accumulated over USD15bn in assets and recent trading of approximately USD1.4bn per week.

Initially, 18 currency ETCs will be listed on the London Stock Exchange tracking the recently launched MSFX Currency Indices. The initial currency ETCs provide long or short passive exposure to G10 currencies versus the US dollar and include AUD, CAD, CHF, EUR, GBP, NOK, NZK, SEK and JPY.

The ETCs also provide exposure to local interest rates in addition to FX movements between the relevant currency and US dollars.

The new currency ETCs will be fully collateralised in order to mitigate counter-party risk and will be listed in the ETC segment of the LSE.

Nik Bienkowski, chief operating officer, says: “Our investors have demanded access to new asset classes in a liquid and secure package. Currency ETCs will deliver this through an open-ended exchange traded security which is fully collateralised and available through ordinary brokerage accounts. After the events of the past year, transparency and security have been demanded by our investors and as a result of the ETC structure, assets in our commodity ETC platform have increased by over USD9bn this year to reach USD15 bn with recent weekly trading volumes of USD1.4bn.”

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