The first U.S. or European exchange to launch the CNY and the HKD
20 currencies available
Amsterdam, Brussels, Lisbon and Paris – 24 January 2014 – Euronext, a wholly owned subsidiary of IntercontinentalExchange Group (NYSE: ICE), today announced the launch of a multicurrency trading service for Exchange Traded Funds (ETFs), including for the first time on a U.S. or European exchange, the Chinese Yuan Renminbi (CNY) and the Hong Kong Dollar (HKD), subject to approval of relevant clearing authorities. The new service will allow international investors to trade any Euronext listed ETFs in 20 different currencies1 . Euronext plans to make it available from Monday 17th February 2014.
By offering investors the possibility of buying an ETF in multiple currencies, Euronext is considerably simplifying access to the international markets, reducing currency exchange risk and foreign exchange costs, and providing investors broader investment opportunities.
The service allows for easier asset gathering for issuers as their exposure to a deeper pool of global investors is increased. They will also no longer need to create a separate fund with a different ISIN code to list in another currency.
Lee Hodgkinson, Head of Markets and Global Sales Euronext, said, “We are excited to offer such a large number of different currencies and particularly proud to be the first U.S. or European exchange to offer the Chinese Renminbi and the Hong Kong dollar. This initiative makes trading ETFs in a different currency easier, simpler and more efficient for both issuers and investors. International investors can now buy ETFs in one of 20 different currencies on the Euronext platform giving them broader investment opportunities, while issuers can improve their product visibility and enlarge their target audience.”