|iShares Appoints European Capital Markets Head|
|14 February, 2012|
BlackRock has created the new position of head of EMEA iShares Capital Markets and appointed Leland Clemons to fill the post.
The issuer has been beefing up its capital markets operations in Europe, and Clemons’ move to the European post from the same role in the US is aimed at helping its clients more easily execute ETP trades in-house.
Joe Linhares, head of iShares EMEA, said: “We expect assets under management and trading volumes in ETPs to grow significantly in Europe over the next few years. Consequently, investors will be looking for partners to help them navigate the product landscape, understand structural distinctions and implement trades effectively.”
As orders to trade ETFs in Europe are often quoted in terms of a spread around a fund's net asset value (NAV), issuers and traders are working hard to develop models to assist investors execute NAV-based trades more efficiently.
One trader contacted by IndexUniverse.eu, who preferred to remain anonymous, contrasted the differing approaches taken by BlackRock, iShares' parent company, and Vanguard, the largest and third-largest US issuers of ETFs, respectively.
“BlackRock is looking to internalise some of the ETF-related trading activity when interacting with its investor clients,” said the trader, “while Vanguard prefers to involve third-party market making firms."
Everyone – not just the famous billionaire investors – has voiced their concerns on bond liquidity. But if you’re prepared to pay, you will be able to trade the ETF