ETF Securities has expanded its exchange-traded currency platform with the listing of ten Euro-based currency ETCs on the Deutsche Börse (Xetra).
The ten new currency ETCs track Morgan Stanley Foreign Exchange Indices and are designed to replicate a fully collateralised long or short investment in Euro versus the Swiss Franc, British Pound, Norwegian Krone, Swedish Krona and Yen and also provide exposure to local interest rates.
They complement the existing platform of 18 currency ETCs listed on the London Stock Exchange on the 12 November 2009.
Having currency ETCs based on the Euro allows investors to trade strategies predicated on European macro dynamics. With the Euro being weighed down by debt and default concerns in the current environment, investors can make use of the new currency ETCs to play the relative safety of the Swiss Franc or to play the relative fiscal strength of the Norwegian Krone versus the Euro.
Nik Bienkowski, chief operating officer, says: “ETF Securities is extremely proud to be able to offer these ten new exciting currency ETCs which use the same widely accepted structure as commodity ETCs. This broadens our currency offering to include ten long and short Euro currency ETCs in addition to the existing 18 long and short USD currency ETCs.”
Rainer Riess, managing director of Xetra market development, Deutsche Börse, adds: “We welcome these additional, innovative listings – they underline the leading position of our trading venues in Europe.”
