United States Commodity Funds cross-lists ETFs on Mexican Stock Exchange

Sep 11th, 2013 | By | Category: Commodities

United States Commodity Funds, a US-based provider of commodity-focused exchange-traded products (ETPs), has cross-listed five products on the Mexican Stock Exchange, or Bolsa Mexicana de Valores (BMV).

United States Commodity Funds cross-lists ETFs on Mexican Stock Exchange

United States Commodity Funds has cross-listed five ETFs on Mexican Stock Exchange, including the United States Oil Fund,

The products available on the BMV are the United States Oil Fund (USO), the United States Natural Gas Fund (UNG), the United States 12 Month Oil Fund (USL), the United States Gasoline Fund (UGA) and the United States Commodity Index Fund (USCI).

John Hyland, United States Commodity Funds’ Chief Investment Officer, said: “We are pleased to list these products on the BMV, as this opens up a significant new market for our products. We think the BMV is the most important exchange in Latin America as it serves both the fast-growing Mexican economy and is a key exchange for the rest of Latin America.”

He added: “As Mexican institutions and investors are becoming increasingly sophisticated, they are interested in alternative investments as well as Mexican equities and fixed income. Now that Mexican investors can trade these ETPs in pesos, we hope they’ll benefit from the liquidity and transparency these products provide.”

United States Commodity Funds manages 12 funds that focus on commodities. The funds are designed to track the performance of commodity futures contracts.

Located in Mexico City, the BMV is the second largest securities exchange in Latin America, after Brazil. The BMV is the public marketplace for both Mexican and non-Mexican listed securities.

United States Commodity Funds is not the first US-based ETP provider to cross-list products on the BMV. Other players to have cross-listed products on the exchange include First Trust, PowerShares, WisdomTree and Market Vectors, typically by way of locally sponsored Depository Receipts.

The BMV is also host to a number of locally domiciled ETFs offered by a range of providers, including ETF giant iShares.

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