Number Of ETFs On London Stock Exchange Set To Double

The London Stock Exchange today welcomed the planned listing of fourteen new Exchange Traded Funds (ETFs) from iShares. The new ETFs, which will be introduced in three tranches between the 31 October and the 21 November, will nearly double the number of ETFs on offer on the Exchange.

Martin Graham, Director of Market Services at the London Stock Exchange, said;

"With the value traded growing at more than 50 per cent per year, ETFs are beginning to outgrow their reputation as the best-kept secret in the City.

"The new products announced today represent a major expansion of the ability of ETFs to support different investment strategies, with the introduction of a specific sectoral play as well as income-orientated products. With more choice, and a fifty per cent reduction in spreads over the last year reducing trading costs, the ETF market is more attractive than ever."

ETFs were launched on the London Stock Exchange in April 2000. The total value traded in ETFs on the Exchange during 2005 to the end of September was £5,824 million, an increase of 74 per cent on the value traded during the same period in 2004. There are currently fifteen ETFs on the London Stock Exchange and two issuers; Barclays Global Investors and NASDAQ Europe.