Belgium
09 June 2014
Reporter: Tammy Facey

Euroclear launches ETF structure on BATS Chi-X Europe


Euroclear Bank will launch the first exchange-traded fund listed on BATS Chi-X Europe with an international structure.

The iShares MSCI Dividend will be available to trade on BATS thank to the partnership.

The new international structure is expected to improve liquidity, ease cross-border processing and lower overall costs and risks because it will use a single European settlement location.

Mark Hemsley, CEO of BATS Chi-X Europe, said: “This latest listing proves that listing on BATS brings material benefits to pan-European investors looking to access deep and liquid markets, and we are looking forward to working with Euroclear Bank in the near future.”

The second international ETF will provide safer electronic delivery-versus-payment settlement, according to Stephan Pouyat, global head of international markets at Euroclear.

He added: “As the market knows, expedient reconciliation as well as the timely and accurate payment of dividends is vital to the attractiveness of ETFs—and the optimal functioning of the market.”

Leland Clemons, head of iShares Capital Markets in Europe, the Middle East and Africa, said: “Market infrastructure improvements are imperative to support the rapid growth of the ETF industry and we hope to see this structure adopted by providers across Europe to drive the ETF market evolution.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Tom Carey takes on new role at Broadridge
16 January 2018 | New York | Reporter: Zsuzsa Szabo
Broadridge Financial Solutions has appointed Tom Carey to head up the firm’s new international business Broadridge International
Raymond James selects Red Deer for MiFID II
16 January 2018 | London | Reporter: Jenna Lomax
Raymond James Investment Services has chosen Red Deer’s research valuation management solution to adhere to MiFID II
SWIFT and CSDs join forces on proxy voting DLT
15 January 2018 | Brussels | Reporter: Jenna Lomax
SWIFT and seven CSDs have partnered to explore how distributed ledger technology could be implemented in proxy voting and for digital assets
Saxo Bank appoints CCO
15 January 2018 | London | Reporter: Jenna Lomax
Bunce will begin his new role in February 2018 and will report to Kim Fournais, CEO and founder
HSBC creates head of innovation role for blockchain actions
15 January 2018 | London | Reporter: Jenna Lomax
Nabi will be responsible for establishing and managing initiatives across HSS — focusing on technology as well as digital and data solutions
Northern Trust acquires technology resources from Citadel
12 January 2018 | Chicago | Reporter: Jenna Lomax
Citadel has agreed to give Northern Trust the software development rights for Omnium, a software solution, along with an undisclosed number of development staff
Lombard Risk share prices soars after Vermeg takeover offer
12 January 2018 | London | Reporter: Zsuzsa Szabo
Dutch financial software provider Vermeg has set its sights on acquiring Lombard Risk with a £52.08 million cash for shares offer
More news