ETFS Physical Swiss Gold ETC to list on Borsa Italiana
Exchange-traded products provider ETF Securities has confirmed it will list ETFS Physical Swiss Gold ETC on the Italian stock exchange Borsa Italiana.
The listing will be completed on 14 May. ETFS physical Swiss gold will be backed by allocated, physical gold bullion held in secure vaults in Zurich, Switzerland, which allows a diversification strategy because many gold exchange traded commodities typically store bullion in the United States or in the UK.
The new listing will complement ETF Securities’s existing range of gold products, with strong liquidity, deep order book, multiple market makers and average spreads as low as four basis points.
J.P. Morgan Chase Bank will act as custodian for ETFS Metal Securities Limited, a special purpose vehicle designed to issue precious metals ETCs that are 100% physically-backed by investment grade bullion.
“We are dedicated to providing the Italian market with liquid, transparent exposure to the price movement of gold. In cross-listing ETFS Physical Swiss Gold onto the Borsa Italiana, we have sought to provide Italian investors with the means to diversify their gold exposure in terms of geography and vault. If you want to invest in gold, there is now additional choice,” said Massimo Siano (pictured), head of Italian sales at ETF Securities.