FX news: Currency ETCs now available in euro crosses
ETF Securities, a leading provider of commodity-based ETFs (exchange-traded funds), is expanding its listing of currency exchange-traded funds, also known as currency ETCs.
The company will list 10 new euro-based currency ETCs on Deutsche Börse (Xetra), comprising long or short exposure to EUR against CHF, GBP, JPY, NOK, and SEK.
In November 2009, ETF Securities launched 18 currency ETCs on the London Stock Exchange. Those contracts offered long or short USD exposure against AUD, CHF, GBP, CAD, EUR, JPY, NOK, NZD and SEK.
Nik Bienkowski, chief operating officer of ETF Securities, says: “ETF Securities is extremely proud to be able to be offering these 10 new exciting currency ETCs, which use the same widely accepted structure as commodity ETCs. This will broaden our currency offering to include 10 long and short euro currency ETCs, in addition to the existing 18 long and short USD currency ETCs”.