Euronext Launches Multicurrency Trading Service For ETFs
Euronext, a wholly owned subsidiary of IntercontinentalExchange Group (NYSE: ICE), today announced the launch of a multicurrency trading service for Exchange Traded Funds (ETFs), including for the first time on a U.S. or European exchange, the Chinese Yuan Renminbi (CNY) and the Hong Kong Dollar (HKD), subject to approval of relevant clearing authorities. The new service will allow international investors to trade any Euronext listed ETFs in 20 different currencies1 . Euronext plans to make it available from Monday 17th February 2014. By offering investors the possibility of buying an ETF in multiple currencies, Euronext is considerably simplifying access to the international markets, reducing currency exchange risk and foreign exchange costs, and providing investors broader investment opportunities. The service allows for easier asset gathering for issuers as their exposure to a deeper pool of global investors is increased. They will also no longer need to create a separate fund with a different ISIN code to list in another currency.