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ETF Securities Launches Multicurrency Trading

Nick Parmee 29 October 2007

ETF Securities Launches Multicurrency Trading

ETF Securities is to make ten of the most popular exchange traded commodities available for multicurrency trading. The new multicurrency platform will enable investors to trade ETCs in sterling as well as US dollars on the London Stock Exchange. The firm says demand has come from investors wanting simple access to the world’s major commodity markets in the home currency. This demand has led the London Stock Exchange to enhance its successful ETC segment by offering the multicurrency platform. Although commodity markets trade in US dollars, multicurrency trading will enable investors to trade ETCs in ordinary sterling brokerage accounts without the need to exchange currency. ETCs managed by ETF Securities now exceed $1.9 billion. Graham Tuckwell, chairman of ETF Securities, said: "ETCs have now been available in Europe since December 2003 and their simplicity and structure have now been embraced by the market. Many investors have approached us showing an appetite for ETCs to be priced in sterling. Increased investor demand and knowledge has resulted in investors wanting access to more choice and alternative trading and investment strategies."

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