-- Lyxor Becomes Second ETF Provider to List on BATS Chi-X Europe; Two ETFs to Commence Trading on 25th November 2013
LONDON, Nov. 14, 2013 /PRNewswire/ -- BATS Chi-X Europe today announced that Lyxor Asset Management, a leading exchange-traded fund (ETF) provider and subsidiary of Societe Generale Group, will list two ETFs on BATS Chi-X Europe's Regulated Market, on Monday 25th November 2013.
The Lyxor UCITS ETF MSCI Emerging Markets (Ticker: LEMD) will trade in USDs and settle in Euroclear UK & Ireland; and the Lyxor UCITS ETF EURO STOXX 50 (Ticker: MSE), which will trade in Euros and settle in Euroclear France.
Lyxor is the third-largest ETF provider in Europe with more than USD 41 billion in ETF assets under management.
BATS Chi-X Europe CEO Mark Hemsley said: "Lyxor is a leading provider of exchange traded funds in Europe and we are delighted to welcome them to our pan-European listings venue. Lyxor's decision to list their products on BATS Chi-X Europe underscores our commitment to delivering an efficient, borderless pan-European capital market designed to benefit all market participants."
"With BATS Chi-X Europe's pan-European reach, we're able to provide issuers with a neutral single channel to reach a diverse set of investors across Europe, whilst allowing our participants easy access to these innovative products," he added.
Lyxor's Head of ETFs and Indexing, Arnaud Llinas said: "The partnership with BATS Chi-X Europe reflects our continued commitment to provide European ETF investors with innovative trading solutions. The fragmentation of the European market is a challenge for ETF providers, placing significant restrictions on the liquidity of individual products. By offering a pan-European listing venue, BATS Chi-X Europe is offering us an opportunity to increase liquidity on our products and thereby increase their efficiency. This is an extremely positive development for the ETF industry."
With its listing business, BATS Chi-X Europe is implementing initiatives targeted at enhancing the European ETF market by working closely with issuers, investors and trading participants to bring innovation to the market, whilst addressing the need for more transparency and liquidity in ETFs.
Among its innovations is the Competitive Liquidity Provider (CLP) program, which was pioneered by BATS for its U.S. listings business, and is designed to incentivise market makers to provide the quality of order books required to attract a diverse range of investors to issuers' products. Additional information on the BATS Chi-X Europe's listings, CLP program and ETF strategy are available at www.batstrading.co.uk/etfs.
BATS Chi-X Europe is the largest pan-European equities exchange by market share and notional value traded. As a Recognised Investment Exchange, BATS Chi-X Europe is authorised to operate a Regulated Market for primary and secondary listings alongside its existing secondary markets' trading business. BATS Chi-X Europe was granted Recognised Investment Exchange status by the Financial Conduct Authority in May 2013.
Companies interested in learning more about BATS Chi-X Europe listings may email SalesEurope@bats.com.
About BATS Global Markets
BATS Global Markets, Inc. is a leading operator of securities markets in the U.S. and Europe. In the U.S., BATS operates two stock exchanges, the BATS BZX Exchange and BYX Exchange; BATS Options, a U.S. equity options market; and the BATS 1000 Index, an innovative U.S. equities market benchmark. The BATS BZX Exchange is a primary listings venue for exchange-traded products. In Europe, BATS Chi-X Europe, a Recognised Investment Exchange regulated by the UK Financial Conduct Authority and the largest pan-European equities exchange by market share and value traded, offers trading in more than 3,000 equities across 25 indices and 15 major European markets and a listings venue for exchange-traded products. The company is headquartered in the Kansas City, Mo. area, with additional offices in New York and London. For more information, visit www.bats.com.
BATS and its affiliates do not recommend or make any representation as to possible benefits from any securities or investments, or third-party products or services. Investors should undertake their own due diligence regarding their securities and investment practices. This press release speaks only as of this date. BATS disclaims any duty to update the information herein.
About Lyxor Asset Management
A global specialized asset manager
Lyxor Asset Management, a wholly owned subsidiary of Societe Generale, was founded in 1998. With over 600 professionals worldwide, Lyxor manages more than USD110 billion of assets across four performance engines: Alternative Investments, ETFs & Indexing, Multi-Asset Investments and Structured Investments.
Our investment specialists deliver asset management and advisory solutions, in all asset classes, to institutional investors. With a strong culture of risk management and research, Lyxor stands amongst the leaders in innovative, transparent and flexible asset management.
Standing among the most experienced ETF providers, Lyxor ranks 3rd in Europe with more than USD 41 billion of ETF assets under management. Lyxor offers investors a highly flexible opportunity to diversify their allocation across all asset classes (equities, bonds, money markets, commodities) with access to 250 ETFs listed on 12 regulated exchanges across the world. Ranking #2 in terms of liquidity of its ETFs in Europe, Lyxor also commits to performance and tracking efficiency, liquidity and transparency as illustrated by the Lyxor ETF quality charter signed since 2011.
The Lyxor ETFs include a risk of capital loss. The redemption value of these products may be less than the amount initially invested. In a worst case scenario, investors could sustain the loss of their entire investment. This press release does not constitute an offer, or an invitation to make an offer, from Societe Generale, Lyxor or any of their respective subsidiaries to purchase or sell the products referred to herein. This press release does not constitute an offer for sale of securities in the United States of America. The product herein described will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States of America without being registered or being exempted from registration under the U.S. Securities Act. The indices referred to herein (the "Index") are not sponsored, approved or sold by Lyxor. Lyxor shall not assume any responsibility in this respect. The indexes and the trademarks used in this document are the intellectual property of index sponsors and/or its licensors. The indexes are used under license from index sponsors. The Lyxor ETFs based on the indexes are in no way sponsored, endorsed, sold or promoted by index sponsors and/or its licensors and neither index sponsors nor its licensors shall have any liability with respect thereto. Updated composition of the product's investment portfolio is available on www.lyxoretf.com. Indicative net asset value is published on the Reuters and Bloomberg pages of the products, and might also be mentioned on the websites of the stock exchanges where the product is listed. The products are the object of market-making contracts, the purpose of which is to ensure the liquidity of the products on the exchange, assuming normal market conditions and normally functioning computer systems. Units of a specific UCITS ETF managed by an asset manager and purchased on the secondary market cannot usually be sold directly back to the asset manager itself. Investors must buy and sell units on a secondary market with the assistance of an intermediary (e.g. a stockbroker) and may incur fees for doing so. In addition, investors may pay more than the current net asset value when buying units and may receive less than the current net asset value when selling them.
SOURCE BATS Global Markets