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BATS Chi-X Europe today announced that Lyxor Asset Management, a leading exchange-traded fund (ETF) provider and subsidiary of Societe Generale Group, will list two ETFs on BATS Chi-X Europe’s Regulated Market on Monday 25th November 2013.
The Lyxor UCITS ETF MSCI Emerging Markets (Ticker: LEMD) will trade in USDs and settle in Euroclear UK & Ireland; and the Lyxor UCITS ETF EURO STOXX 50 (Ticker: MSE), which will trade in Euros and settle in Euroclear France.
Lyxor is the third-largest ETF provider in Europe with more than USD 41 billion in ETF assets under management.
BATS Chi-X Europe CEO Mark Hemsley 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,” he added.
Lyxor’s Head of ETFs and Indexing, Arnaud Llinas said: “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) program, which was pioneered by BATS for its U.S. 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. Additional information on the BATS Chi-X Europe’s listings, CLP program and ETF strategy are available at www.batstrading.co.uk/etfs.
BATS Chi-X Europe is the largest pan-European equities exchange by market share and notional value traded. As a Recognised Investment Exchange, BATS Chi-X Europe is authorised to operate a Regulated Market for primary and secondary listings alongside its existing secondary markets’ trading business. BATS Chi-X Europe was granted Recognised Investment Exchange status by the Financial Conduct Authority in May 2013.
