Jane Street to Provide Euro Liquidity for Amundi ETFs
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Amundi and Jane Street have signed a market-making agreement that will see the trading firm provide liquidity for around half of Amundi’s 300-strong ETF range.
As part of the agreement, Jane Street has committed to listing more than 150 Amundi ETFs on-exchange, according to defined parameters of size, spread and presence.
The strategic collaboration is the “first of its kind” for Jane Street in Europe.
Slawomir Rzeszotko, head of institutional sales and trading in Europe and Asia at Jane Street, commented: “Jane Street is invested in the long-term development of the ETF ecosystem, and we are continually looking for new ways to support clients and other key players in the space.”
Amundi, Jane Street Join Forces in Liquidity Deal
Rzeszotko said he was “excited” by the partnership as Jane Street strives to ensure the industry operates “as efficiently as possible.”
The agreement, described by Amundi as a “major development,” will enhance the liquidity of its ETF range by ensuring its products remain tradable throughout the session, with the relationship “set to become even more important in the future.”
Benoit Sorel, global head of ETF, indexing and smart beta, commented, “This partnership with Jane Street illustrates our commitment to continuously improve the quality and liquidity of our ETFs in order to best serve our clients.
“Together, we are enhancing market efficiency and transparency, while pursuing our mission to offer the best investment tools,” he added.
Most recently, Amundi extended its suite of equity ETFs with the launch of two low-cost U.S. equity ETFs in Europe—the Amundi MSCI USA UCITS ETF (WEBH) and the Amundi MSCI World EX USA UCITS ETF (WEXE)—for three basis points alongside an MCSI World ex-U.S. exposure.
From a macro perspective, the Jane Street and Amundi liquidity deal further reflects the ongoing efforts of financial services firms to address demand for ETFs, which are headed for their biggest year yet.
This article was originally published on our sister site, etfstream.com.