Exchange-traded funds will be available to trade on pan-European multilateral trading facility Chi-X Europe from 6 June. ETFs allow traders to participate in whole indices and market segments in one transaction.
Five ETFs from iShares, a division of Barclays Global Investors, will be available on Chi-X from the launch of the service. These are: iShares FTSE100; iShares DJ Euro Stoxx 50 DE; iShares DAX DE; iShares DJ Euro Stoxx 50; and iShares AEX.
As with other trades on Chi-X, ETF trades will be cleared by the Fortis European Multilateral Clearing Facility central counterparty, and settlement will be effected through the local central securities depository.
Chi-X is also planning to start trading Norwegian and Danish stocks on 20 June. As with previous new country additions, Chi-X will begin by trading the five top stocks of Norway’s OBX 25 and Denmark’s OMX Copenhagen 20 indices, and then expand trading to the remainder of the indices.
The first five Norwegian stocks to be traded are Norsk Hydro, Renewable Energy Corp, StatoilHydro, Telenor and Yara International.
The first five Danish stocks to be traded are AP Moller-Maersk, Dasnke Bank, Novo Nordisk, Novozymes and Vestas Wind Systems.