A New ETF By Lyxor Begins Trading On The Spanish Stock Exchange - The First SICAV-Style ETF On The Spanish Stock Exchange

The Spanish stock exchange has begun trading the Lyxor ETFS&P500, a new exchange traded fund (ETF) issued by Lyxor Asset Management, Société Générale’s asset manager. This ETF, which tracks the S&P 500, is the first SICAV-style exchange-traded fund to be traded on the Spanish stock exchange following recent legal changes to allow trading in this investment product.

The ETF segment of the Spanish stock exchange started up on 20 July 2006 and after the incorporation of the Lyxor ETFS&P500 it now has 41 exchange-traded funds.

Trading volume in the ETF segment to the end of September was up 116% year-on-year, at €5.13 billion. The number of trades during the same period totalled 52,858, which exceeds total trades for all of 2009.

Exchange traded funds (ETFs) are a hybrid investment vehicle between funds and shares that combine the best of both worlds in a single stock exchange trade.