Lyxor to list ETFs on BATS Chi-X Europe

Nov 14th, 2013 | By | Category: ETF and Index News

BATS Chi-X Europe, Europe’s largest pan-European equities exchange, has revealed that Lyxor, a leading European provider of exchange-traded funds, will list two ETFs on the exchange’s Regulated Market on Monday 25 November 2013.

Lyxor to list ETFs on BATS Chi-X Europe

Arnaud Llinas, Global Head of ETFs and Indexing at Lyxor.

Lyxor will become the second ETF provider – the first being iShares – to list on BATS Chi-X Europe since it received Recognised Investment Exchange status from the Financial Conduct Authority in May 2013.

The two ETFs to be listed on the exchange are the Lyxor UCITS ETF MSCI Emerging Markets (LEMD), which will trade in US dollars and settle in Euroclear UK & Ireland, and the Lyxor UCITS ETF EURO STOXX 50 (MSE), which will trade in euros and settle in Euroclear France.

Mark Hemsley, CEO of BATS Chi-X Europe, said: “Lyxor is a leading provider of exchange-traded funds in Europe and we are delighted to welcome them to our pan-European listings venue. Lyxor’s decision to list their products on BATS Chi-X Europe underscores our commitment to delivering an efficient, borderless pan-European capital market designed to benefit all market participants. With BATS Chi-X Europe’s pan-European reach, we’re able to provide issuers with a neutral single channel to reach a diverse set of investors across Europe, whilst allowing our participants easy access to these innovative products.”

Arnaud Llinas, head of ETFs and indexing at Lyxor, added: “The partnership with BATS Chi-X Europe reflects our continued commitment to provide European ETF investors with innovative trading solutions. The fragmentation of the European market is a challenge for ETF providers, placing significant restrictions on the liquidity of individual products. By offering a pan-European listing venue, BATS Chi-X Europe is offering us an opportunity to increase liquidity on our products and thereby increase their efficiency. This is an extremely positive development for the ETF industry.”

With its listing business, BATS Chi-X Europe is implementing initiatives targeted at enhancing the European ETF market by working closely with issuers, investors and trading participants to bring innovation to the market, whilst addressing the need for more transparency and liquidity in ETFs. Among its innovations is the Competitive Liquidity Provider (CLP) programme, which was pioneered by BATS for its US listings business, and is designed to incentivise market makers to provide the quality of order books required to attract a diverse range of investors to issuers’ products.

Lyxor is the third-largest ETF provider in Europe with more than $41 billion in ETF assets under management.

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