EUROPEAN UNION: Euroclear Bank Supports the First Cross-Listing of iETFs in Asia Pacific

Thursday October 20 2022

On 20^th October 2022, Euroclear Bank announced that the Brussels-based international central securities depository (ICSD) signed an agreement with the European Central Bank (ECB) and the central banks of the euro area to join ECB’s TARGET2-Securities (T2S) settlement system.

The issuer, DWS Group  migrated their Luxembourg range of domestic ETFs to the ICSD model, listing on the Singapore Exchange (SGX Group) and the Hong Kong Exchanges and Clearing Limited (HKEX). SGX Group is the most recent trading venue to join Euroclear Bank’s (Exchange traded fund) ETF ecosystem which includes the Hong Kong, Mexican and Tel Aviv exchanges.

The ability to now cross-list in Asia through the ICSD model will allow European ETF issuers the option to expand their distribution network to Asia while also allowing their investors based in Asia to benefit from cost and risk efficiencies. Market makers will also now be able to transfer European ETFs same day between Europe and Asia.

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