Turquoise announced it will expand its services to include six Exchange Traded Commodities (ETCs) for trading on its multi-lateral trading facility (MTF).
The six new ETCs will track the performance of physical gold and silver, as well as gold bullion indices. Members will be able to execute, clear and settle transactions on Turquoise with clearing provided through EuroCCP beginning November 13, 2009.
Eli Lederman, Turquoise Chief Executive, said in a statement, "Turquoise is delighted to offer ETCs to our members, particularly at this time of such widespread interest in the underlying commodities. ETCs will trade under the same competitive pricing schedule, robust technology and fully risk-managed clearing solutions as the rest of our product offering. As with our recent introduction of Depository Receipts, ETCs represent a natural extension to our service. Members will benefit from great economics and simpler access to these instruments and the exposures they represent."