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Euronext launches ETF multicurrency
24 January 2014
First US or European exchange to launch CNY and HKD
Euronext has launched a multicurrency trading service for
exchange traded funds (ETFs), making it the first exchange in
the western world to introduce the Chinese yuan renminbi (CNY)
and the Hong Kong dollar (HKD).
The service, expected to be available from February 17, will
enable international investors to trade any Euronext listed
ETFs in 20 different currencies.
"This initiative makes trading ETFs in a different currency
easier, simpler and more efficient for both issuers and
investors," said Lee Hodgkinson, head of markets and global
The exchange expects the service to simplify access to
international markets, reduce currency exchange risk and
foreign exchange costs, and provide investors with broader
investment opportunities. Euronext also said that issuers would
no longer need to create a separate fund with a different ISIN
code to list in another currency.
The service is subject to approval of the relevant clearing