Source has listed 15 exchange-traded commodities on the SIX Swiss Exchange.
Source is one of the first European ETP providers to list ETCs on SIX.
Source has initially listed 14 Treasury Bill secured ETCs that track S&P GSCI total return commodity indices and one physical gold physically secured ETC that tracks the spot gold price and is secured by gold bullion held in J.P. Morgan Chase Bank’s London vaults.
Ted Hood, chief executive of Source, says: “Listing our market leading ETCs on SIX is an important step in offering Swiss investors locally traded products and all of our investors the ability to trade these products on exchange in USD. We have raised USD850m in ETCs so our simple message – transparency, unparalleled asset quality, and efficient delivery of commodity exposure – is clearly resonating with the European institutional investment community. Source T-ETCs’ superior structure is a market leading solution in addressing counterparty risk.”
Alain Picard, head of ETFs and other financial product sales at SIX Swiss Exchange, adds: “Swiss investors have shown significant interest in gaining commodity exposure. We are very happy to welcome Source as a provider in the new ETP segment of SIX Swiss Exchange.”
Source T-ETCs are collateralised with US Treasury Bills and cash held in segregated accounts by a trustee, and commodity index exposure is provided by multiple swap counterparts.
All Source ETCs will trade in US dollars on SIX, and the annual fixed fee for all T-ETCs is 0.49 per cent p.a., while the Source Physical Gold P-ETC is 0.29 per cent p.a.