A specialist provider of exchange traded products, announced the addition of three …
new partners to its platform, including the global investment bank Nomura.
The addition of Nomura, which acquired Lehman Brothers’ European Equities and Investment Banking operations and entire Asian franchise in October 2008, will significantly increase Source’s footprint, franchise and client reach. Nomura is one of the largest global traders and distributors of ETFs across a broad range of asset classes and has raised more than $14 billion in assets under management (AuM) for its own products.
Ted Hood, CEO of Source, said, “We are absolutely delighted to have Nomura on board and believe that their membership will further reinforce the value and importance of our ground breaking multi-bank initiative. There are excellent synergies between Nomura and our existing partners and their position in the Asian markets is obviously of great appeal.”
Source is pleased to announce that Banca IMI SpA and IMC Group are also joining the platform, adding significant liquidity and distribution capabilities. Each entity has a compelling combination of specific geographic strengths and broad European capabilities.
Since its launch, Source and its founding partners, Bank of America Merrill Lynch, Goldman Sachs and Morgan Stanley, have enhanced the performance and trading environment for exchange traded products in Europe by creating common standards and focusing on improved liquidity and reduced counterparty exposure. In the last two months, Source has found significant investor interest having met with over 600 investors in 23 cities. The addition of Nomura, Banca IMI and IMC Group strengthens Source’s market position amongst investors as the partner of choice in the ETF space.
Source UK is regulated by the UK Financial Services Authority.
Source: ETFWorld.co.uk – Source
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