ETF Securities yesterday suspended trading on a number of its Exchange Traded Commodities (ETCs) due to its exposure to ailing insurance giant AIG.
ETF Securities says the recent bailout by the US Government is a positive development, and hopes to resume trading as soon as possible. In a statement issued today, the firm says: “ETF Securities is in discussion with its market makers, Authorised Participants and the Exchanges to seek to have trading in ETCs issued by ETFS Commodity Securities resuming in an orderly fashion as soon as possible.” The ETCs were suspended yesterday as those based on futures contracts, including short securities, are backed by AIG. The insurer received an $85bn bailout from the US Government on Tuesday as i...
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