JP Morgan and Nomura have joined Source as shareholders, bolstering the exchange-traded product (ETP) issuer's range of investment bank partners and swap providers.
Source says it aims to offer ETPs with reduced counterparty risk and increased liquidity, which the firm believes is enhanced with the latest addition of shareholders. JP Morgan also becomes a swap provider for the firm's products, while Nomura became a swap counterparty and partner last July. Source says JP Morgan has "unparalleled" risk management and liquidity provision spanning asset classes, including equity, commodities, credit, foreign exchange and rates. Source adds Nomura is one of the largest traders and distributors of ETFs across a range of asset classes. Nomura COO...
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