First Trust picks LSE for European ETF debut
US manager First Trust has picked the London Stock Exchange (LSE) as the venue to debut its first exchange traded products for the European market.
First Trust will list three of its AlphaDEX ETFs on London’s Main Market.
The funds aim for an alternative stock weighting based on growth and value scores. Further information on the AlphaDEX quantitative strategy is available in a White Paper published by First Trust here: http://www.ftportfolios.com/common/etf/productinfo/common/alphadexwhitepaper.pdf
The three funds add to the more than 1,000 ETPs listed on the LSE, which claims a 28% market share in all ETF and ETP trading in Europe. The combined LSE Group market share is claimed to be 45% – including Borsa Italiana and MTS.
First Trust joins two other key US ETF/ETP providers on the LSE; the others are SPDR and Vanguard.