Turquoise, a broker-backed pan-European multilateral trading facility, has expanded the range of instruments on its platform with six exchange-traded commodities (ETCs).
The series of ETCs will track the performance of physical gold and silver as well as gold bullion indices, and will be available for trading on Turquoise from 13 November. The trades will be cleared by EuroCCP, the MTF’s incumbent central counterparty.
“ETCs will trade under the same competitive pricing schedule, robust technology and fully risk-managed clearing solutions as the rest of our product offering,” said Eli Lederman, CEO of Turquoise, in a statement. “As with our recent introduction of depository receipts, ETCs represent a natural extension to our service. Members will benefit from great economics and simpler access to these instruments and the exposures they represent.”
Turquoise started trading 120 of the most heavily-traded depository receipts on 16 October, after an initial launch comprising 10 instruments on 2 October.
Rival MTF Chi-X Europe is currently the only other MTF to offer ETCs, having launched its offering on 20 April in conjunction with ETC issuer ETF Securities.
Turquoise is currently subject of a possible takeover by the London Stock Exchange after hiring UBS to seek a buyer earlier this year.