Source launches 14 ETFs on SIX Swiss Exchange.

SIX Swiss Exchange has announced the addition of 14 new ETFs from Source, the London-based ETF provider.

Ted Hood, chief executive of Source, said: “Source is delighted to announce the listing of our first ETFs in Switzerland. These include major equity benchmarks such as the S&P 500, MSCI EM and MSCI USA, the nine S&P US Select Sectors and some of Source’s market leading volatility products, developed in conjunction with Nomura and J.P. Morgan.” 

Alain Picard, head product management at SIX Swiss Exchange, said: “We are very pleased to welcome Source as a new ETF issuer. Their specialist products will enable the selection offered at SIX Swiss Exchange to provide even better coverage for the diverse needs of investors.”

Flow Traders, JP Morgan Securities, Nomura International and Virtu Financial Ireland act as market makers for the new ETFs.

The Source ETFs follow the launch of 14 other ETFs earlier this year on the exchange. Two were from Ossiam, based on the minimum variance concept; two from HSBC and three from UBS on the MSCI; three ETFs from Lyxor and one from Amundi that track the EuroMTS Index, as well as three iShares ETFs on the DAX and German government bonds.

In the second quarter of 2012, the Swiss exchange posted ETF trading turnover of CHF 17.7bn, while the average trade size increased by 1.5% to CHF 96,936. As of 30 June 2012, 398,770 ETF transactions were executed, up from the first quarter’s 219,944.

The Swiss Exchange says five of the top ten ETFs by turnover in the second quarter invested in the precious metal gold, followed by four ETFs in equity Developed Markets and one in equity Emerging Markets. Overall, commodities and precious metals ETFs achieved turnover of CHF 7,133m during the quarter, or 40% of the ETF segment’s total turnover. These turnover figures are almost in line with the equity Developed Markets asset class, which posted trading turnover of CHF 6,338m, or 36% of the segment’s total.

The ETF with the highest turnover in the second quarter of 2012 is CS ETF (CH) on SMI for the third quarter in succession, with a trading turnover of CHF 1,013m. Second place was taken by iShares S&P 500, with trading turnover of CHF 829m. The latter has been among the top ten ETFs traded on the Swiss exchange for more than a year.

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