Euroclear completes first APAC iETFs cross-listing
20 October 2022 Hong Kong
Image: andreykr
Euroclear Bank (Euroclear) has supported the first APAC cross-listing of UCITS internet exchange traded funds (iETFs), issued by DWS Group (DWS).
DWS migrated its domestic Luxembourg ETFs to Euroclear’s international central securities depository model, allowing it to cross-list on both Hong Kong Exchanges and Clearing Limited (HKEX) and the Singapore Exchange (SGX) exchanges.
The most recent to be a part of Euroclear’s ETF ecosystem, SGX joins the Hong Kong, Mexican and Tel Aviv exchanges.
With this development, European ETFs can be transferred between Europe and Asia on the same day. European issuers will be able to expand their distribution networks to the APAC region, and Asia-based investors can benefit from cost and risk efficiencies.
Isabelle Delorme, head of strategy and product expansion, issuers, fund managers and sustainable finance at Euroclear, says: “We are pleased to have achieved this watershed moment for iETF cross-listing in the APAC region. This could only have been accomplished by true collaboration with our partners with the objective of providing additional market efficiencies to investors.”
Keshava Shastry, global head of capital markets at DWS, comments: “The migration of our full product offering of ETFs to the ICSD model marks a milestone in our effort to provide APAC investors with efficient settlement and liquid listings. The APAC region is very important for the development of DWS’ passive business and we are excited to be part of this multi-region project.”
DWS migrated its domestic Luxembourg ETFs to Euroclear’s international central securities depository model, allowing it to cross-list on both Hong Kong Exchanges and Clearing Limited (HKEX) and the Singapore Exchange (SGX) exchanges.
The most recent to be a part of Euroclear’s ETF ecosystem, SGX joins the Hong Kong, Mexican and Tel Aviv exchanges.
With this development, European ETFs can be transferred between Europe and Asia on the same day. European issuers will be able to expand their distribution networks to the APAC region, and Asia-based investors can benefit from cost and risk efficiencies.
Isabelle Delorme, head of strategy and product expansion, issuers, fund managers and sustainable finance at Euroclear, says: “We are pleased to have achieved this watershed moment for iETF cross-listing in the APAC region. This could only have been accomplished by true collaboration with our partners with the objective of providing additional market efficiencies to investors.”
Keshava Shastry, global head of capital markets at DWS, comments: “The migration of our full product offering of ETFs to the ICSD model marks a milestone in our effort to provide APAC investors with efficient settlement and liquid listings. The APAC region is very important for the development of DWS’ passive business and we are excited to be part of this multi-region project.”
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