ETF Securities adds counterparty to commodity range

The move is designed to generate greater liquidity, reinforce the growth of ETFS' range of commodity securities and provide greater protection for investors. It follows the development of ETFS' equity platform ETF Exchange, which has four separate counterparties. ETF Securities chairman Graham Tuckwell says: "We are constantly looking for new ways to deliver greater transparency, liquidity and risk management". Merrill Lynch will be appointed on the same terms as current counterparty UBS, effective on 13 April, collateralising its obligations to ETFS on a daily basis. The commit...