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Source ETF Adds Three New Partners
June 24, 2009 12:47 am
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Three new partners have joined the Source ETF and ETC trading platform, the firm announced today. Nomura, Banca IMI and IMC Group join the three original partners, Goldman Sachs, Morgan Stanley and Bank of America Merrill Lynch. Nomura, which acquired Lehman Brothers’ European equities and investment banking operations in November, is already one of the biggest global traders and distributors of ETFs, according to Source’s press release. Banca IMI is one of the leading Italian financial institutions, headquartered in Milan, and IMC Group is a leading proprietary trader and market maker, with a significant market share in the trading of European exchange-traded products. Source continues to seek additional participants for its platform, the company stated. According to the 17 June edition of Deutsche Bank’s “ETF Liquidity Trends” report, Source had just over €250 million under management in thirteen ETFs. The firm has also issued US$29 million in twenty-two T-ETCs, exchange-traded commodities that are backed by government bonds as collateral. |
Inside ETFs: A Reality Check
The Inside ETFs conference last month was a great opportunity for an ETF analyst like me to escape my ivory tower.Summing Sector SPDRS = SPY?
You’d think owning the nine sector SPDRs in proportion to their weightings in the S&P 500 is a way to recreate SPY. But you’d be wrong.
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