The FINANCIAL -- London Stock Exchange welcomes Boost ETP as a new issuer of Exchange Traded Products (ETPs) on its Main Market.
The company plans to introduce 20 new products throughout December, offering leveraged exposure to a range of indices. Benchmarks created and managed by FTSE, London Stock Exchange Group’s leading index provider, have been licensed to underlie a number of the new products.
GETCO will act as dedicated market maker for Boost ETP’s products, making it an ETP market maker on London Stock Exchange for the first time. It brings the total number of firms market making ETFs and ETPs on the UK markets to 26.
To mark the launch, Hector McNeil and Nik Bienkowski, both Co-CEOs at Boost ETP, joined Gillian Walmsley, Head of Fixed Income Products at London Stock Exchange to formally open trading on the London markets this morning.
Gillian Walmsley, Head of Fixed Income Products at London Stock Exchange, said: “We are delighted to welcome Boost ETP for their product debut. London Stock Exchange Group operates Europe’s biggest ETP exchange, underpinned by a diverse set of international investors. As London Stock Exchange announced, this makes for a vibrant, fast growing market, with coverage across a broad range of underlying asset classes.
“GETCO’s participation as a market maker will further strengthen London’s position as Europe’s deepest pool of liquidity for ETPs.”
Hector McNeil, Co-CEO at Boost ETP, said: “Launching our first products on the London Stock Exchange last week was a landmark day for us. We believe that BOOST FTSE 100 3x Leverage Daily ETP ‘3UKL’ and BOOST FTSE 100 3x Short Daily ETP ‘3UKS’ are exciting additions to the UK ETP market. Our ETPs provide sophisticated investors valuable new tools to potentially enhance their investment returns or hedge market risks”
Aidan Hsu, Head of European ETF trading at GETCO, said: “We are very pleased to support Boost ETP as their dedicated market maker and we look forward to creating efficient and liquid markets for Boost ETP’s on the LSE.”
There are currently 1,038 ETFs and ETPs listed in London, with an average total daily trading value of over £200m.