Nineteen New ETFs On LSE In One Day

by Robin Pilgrim, LawAndTax-News.com, London

05 August 2008

The London Stock Exchange (LSE) welcomed on Tuesday nineteen new Exchange Traded Funds (ETFs) onto its Main Market - the busiest ever day for new ETF admissions on the Exchange.

The new funds, which cover a range of equity and bond indices, take the total number of ETFs on the Exchange to 166, from five different issuers.

In addition, the Exchange also now offers access to trading in 122 Exchange Traded Commodities (ETCs).

Following on from a record 2007, ETF trading on the London Stock Exchange has continued to show strong growth in the first half of this year, with the total value traded on the order book during the first six months of 2008 up 67% year on year to GBP7.3bn.

The total value traded in ETCs during the first half of the year was GBP5.3bn, more than five times the total value traded in ETCs during 2007.

Pietro Poletto, Head of ETF and ETC Markets at London Stock Exchange Group, commented:

“Demand for ETFs in the UK continues to grow, with both trading volumes and the range of ETFs available on our markets increasing steadily. So far in 2008 we have seen the four busiest ever days in ETF trading on our order books and listed a total of 59 new ETFs on our Main Market. The arrival of 19 new ETFs in just one day reflects the dynamism of the UK ETF market and means that these highly efficient instruments can now be used to execute an even broader range of investment strategies.”

Recommended