State Street cross-lists ETFs in Italy
State Street Global Advisors has announced the cross-listing of 12 SPDR ETFs on the ETF Plus market of Borsa Italiana.
The funds, which are domiciled in France, are also listed on NYSE Euronext and the Xetra segment of Deutsche Börse.
The SPDR family of ETFs features regional European funds and European sector-specific funds. In addition to France and Germany, the SPDR funds are approved for public trading in The Netherlands, Luxembourg and the United Kingdom. SSgA is one of the largest providers of ETFs worldwide with $255 billion in assets under management, as of 31 December 2010.
Danilo Verdecanna, managing director at SSgA in Italy, said: “We continue to see rapidly growing demand for exchange traded funds amongst institutional investors and financial intermediaries. The availability of our SPDR ETFs in Italy will provide our clients with an efficient way to express a view on key sectors and markets through our well-constructed offerings.”
Vin Bhattacharjee, head of EMEA Intermediary Business Group, SSgA, said: “The continued expansion of SPDR ETFs in Europe is a strategic objective for State Street.
Increasingly, investors across Europe are using ETFs both tactically and strategically within their portfolios. As the industry’s pioneer for ETFs and long heritage and skill as an index manager, State Street is well-positioned to meet this growing demand.”