Three of financial services giant Absa Corporate and Investment Bank’s metal exchange-traded funds (ETFs) started trading on A2X Markets on Thursday.
The listings of NewGold, NewPlat and NewPalladium on the A2X are in addition to their listings on the JSE and the Namibian Stock Exchange.
A2X CEO Kevin Brady commented in a statement that the Absa metal ETFs were the leaders in their field with almost R25-billion in assets under management. “ETFs are experiencing significant growth, owing to their low cost.”
These ETF listings will bring the number of securities available for trade on A2X to 25, with a combined market capitalisation of more than R2.4-trillion.