European exchange operator Euronext has launched a new trading service, offering the ability to buy exchange-traded funds (ETFs) in multiple currencies.
The currencies available will include the Chinese renminbi and Hong Kong dollar, which Euronext asserts is a first for a European exchange. A total of 20 different currency options will be available.
It said the move will simplify access to international markets and reduce currency exchange risk and foreign exchange costs for investors.
Lee Hodgkinson, head of markets and global sales at Euronext, said: “This initiative makes trading ETFs in a different currency easier, simpler and more efficient for both issuers and investors.”
Euronext, which is currently owned by Intercontinental Exchange but is expected to float later this year, plans to launch the trading service on 17 February, subject to regulatory approval.
Meanwhile, financial data provider Markit has increased the functionality of its ETF products with a new web-based application.
It said the upgrade will help clients to navigate the increasingly complex global ETF universe through analytics tools covering a broad range of ETFs.
Mark Schaedel, managing director and global head of equity and index data services at Markit, said, “The integration of our analytics into the new ETF platform helps customers navigate this fragmented market that spans over 5,000 global ETFs, issued by more than 200 providers and which trade across 60 exchanges using a single view with a powerful analytics toolset layered on top.”
The dataset includes daily portfolio holdings, announced and forecast dividends and 1,300 daily and historical calculations covering performance, liquidity, risk and benchmark tracking.
By integrating its suite of products into a single web platform, Markit’s customers can access a wide range of services in a single location to screen the global ETF marketplace and perform detailed analysis.
Buy-side investors can use customisable view to assess key metrics, while brokers will be able to use the platform to offer clients greater investment insights.