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BATS Chi-X Europe, Europe’s largest stock exchange, today announced today that two uniquely-listed ETFs, issued by Van Eck Global, began trading on BATS Chi-X Europe’s Regulated Market. A further two ETFs by the same issuer were also made available for trading.
The Van Eck Global Market Vectors Gold Miners UCITS ETF (Ticker: GDGJx) and the Van Eck Global Market Vectors Junior Gold Miners UCITS ETF (Ticker: GDGXx), both denominated in GBP, are the first funds to list exclusively on BATS’ pan-European platform. Both ETFs were also listed at the same time in USD, adding to the existing ETFs listed on the exchange.
In addition, BATS Chi-X Europe introduced today new trading tariffs designed to incentivise improved price formation and promote deeper liquidity, as well as free ETF listings for issuers. Both initiatives seek to bring OTC business on exchange and capture more market share of ETF trading and listing, with the aim of concentrating ETF liquidity on the CXE Lit Book, the largest single order-book the Exchange operates.
Mark Hemsley, CEO of BATS Chi-X Europe said: “We are committed to growing our ETF listings and trading business. Attracting our first exclusive listings with Van Eck is a significant step. It is also a clear sign that ETF issuers value the role a pan-European ETF platform can play in establishing a truly continental market for these instruments, and we are pleased to be working with such an innovative global player to bring their funds to the European market.”
“We are pleased to cross-list our funds on BATS Chi-X Europe,” said Lars Hamich, CEO of Van Eck Global (Europe). As an ETF provider, it is important to us to offer our clients the best service on all levels. This includes the choice of trading platform. The listing on BATS Chi-X Europe complements our other listings and offers clients additional choices in trading currencies – British Pounds and US Dollar. Furthermore, with a client base throughout Europe, it was important to us to offer access to our funds via a pan-European trading platform.”
In recent months BATS Global Markets, parent of BATS Chi-X Europe, has ramped up its efforts to improve the ETF market and bolster its ETF business, on both sides of the Atlantic:
- In April 2015, the exchange group announced the appointment of Laura Morrison as Senior Vice President, Global Head of Exchange-Traded Products. Ms. Morrison, who will be based in the exchange group’s New York offices, was previously Senior Vice President, Global Index and Exchange- Traded Products, at NYSE. At the same time, BATS reiterated its commitment to being the market leader in ETF listings and remaining the #1 U.S. venue for ETF trading.
- In October 2014, BATS Chi-X Europe introduced a specific delayed reporting regime for European ETFs designed to bring greater transparency to the market. Developed in close collaboration with a wide range of market participants, this allows trading participants to report all of their European and Swiss ETF trades to BXTR, BATS’ market-leading trade reporting service, rather than multiple national exchanges or trade data monitors. Since October 2014, more than €41.3 billion of ETF trades have been reported via BXTR.
- In June 2014, BATS Chi-X Europe partnered with Euroclear Bank and iShares to launch the first ‘internationally issued and settled’ ETF structure.
- In April 2014, BATS Chi-X Europe was a co-signatory of an industry letter to Steven Maijoor, Chair of the European Securities and Markets Authority, urging for greater post-trade transparency.
