Euroclear and Invesco partner for UCITS ETF 23 October 2018Brussels Reporter: Jenna Lomax
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Euroclear Bank and Invesco have joined forces to issue the Invesco variable rate preferred shares UCITS exchange-traded fund (ETF).
The ETF, which uses Euroclear’s international issuance structure, is listed and traded on the London Stock Exchange, and will settle directly in the international central securities depository (ICSD)—Euroclear Bank.
Launched in 2013, Euroclear’s international structure for ETFs aims to bring increased efficiency to a process that had previously only been supported by fragmented domestic market practices across Europe.
Gary Buxton, COO for Europe, Middle East and Africa ETFs at Invesco, said: “We are delighted to partner with Euroclear on the launch of this ETF, which is the only ETF in Europe to offer exposure to the $250 billion preferred shares market.”
Mohamed M’Rabti, deputy head of FundsPlace at Euroclear, commented: "We are very proud to have partnered with Invesco, an important player in the global ETF market.”
He added: “Our international ETF model has gathered a lot of momentum over the past few years and it’s great to see that we are the infrastructure provider of choice for an increasing number of European ETF issuers which can leverage our global distribution channel.”
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