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The Australian Securities Exchange (ASX) today announces the start of trading of four Exchange Traded Commodities (ETCs) in the newly created AQUA market.
The four new products have been developed by ETF Securities Ltd, a UK-based business with Australian origins, which launched an exchange traded gold product on ASX in 2003 and is now the global leader in exchange traded commodity products.
As the first products to come to the ASX AQUA market - a platform tailored for managed funds, ETFs, ETCs and structured products - these four ETCs will provide investors with an opportunity to invest in Platinum, Palladium, Silver, a basket of all three, plus the existing Gold product via an on-market transaction on ASX.
Mr Richard Murphy, General Manager Equity Markets at ASX, said: “These exchange traded commodity products are precisely the type of product the AQUA market was created for. The AQUA platform provides investors with a greater breadth and variety of products tradeable on ASX. Given the increasing interest in commodities as an investment, this suite of precious metals products should prove attractive to investors and their advisers.
“Issuers of products on the AQUA platform provide investors the benefits of being quoted on ASX, which includes trading, clearing and settling on ASX systems in the same way as ordinary shares. Investors can now invest in this precious metals asset class in exactly the same way as they would buy shares on ASX.”
The codes for the new AQUA-quoted ETCs are: Platinum - ETPMPT; Palladium – ETPMPD; Silver – ETPMAG; and Basket – ETPMPM. The last two letters of the Platinum, Palladium and Silver products are their respective symbols in the periodic table. The code for the existing Gold product remains the original four letter ASX code – GOLD.
