There are 21 registered market makers providing continuous pricing and a high quality pool of liquidity on London Stock Exchange order-book. Some of these firms are listed below:
Bluefin Trading are specialists in market making ETFs and ETCs across a wide asset classes and issuers. Bluefin has long been established as an on screen official market maker in many stocks listed on the London Stock Exchange, but also offers competitive pricing for OTC counterparties. Our areas of expertise in the ETF space include Commodities, Emerging Markets and Fixed Income products. Our counterparties include banks, private banks, brokerage houses, institutional investors, wealth management and pension funds.
BNP Paribas Global Markets, part of BNP Paribas Corporate and Institutional Banking, provides cross-asset investment, hedging, financing, research and market intelligence to corporate and institutional clients, as well as private and retail banking networks.
BNP Paribas Global Markets ETF offering covers voice pricing, across asset classes, for ETF investors and market-making on exchanges, with liquidity provision across asset classes, on complete issuer ranges or selected exposures.
Our ETF client services include product selection, efficient execution and electronic quoting with a ‘one stop ETF shop’ covering ETFs around the globe 24 hours a day.
We also provide Investors with a weekly European ETF monitor, covering a recap of major markets and analyses on ETF trends. This includes investment ideas based on BNP Paribas research.
For more information please contact the ETF teams.
ETF Trading desk + 44 (0)207 595 1844
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
Commerzbank is Germany’s second largest bank with over 11 million clients worldwide and one of the leading market makers for ETFs in Europe. Commerzbank has a long standing experience in market making and our capabilities in this space were further highlighted in 2009 when UBS chose Commerzbank to become the sole authorised participant for their ETF offering.
We cover a wide range of ETFs for all the major providers and are active on seven different exchanges in Europe, including the London Stock Exchange (as well as Deutsche Boerse, Borsa Italiana, NYSE Euronext Paris, NYSE Euronext Lisbon, SIX Zuerich, Nasdaq OMX) . We are the biggest Designated Sponsor on Xetra in Germany (currently Europe’s biggest ETF market) as well as in Switzerland.
We are constantly working on expanding our product coverage. Currently we provide liquidity for iShares, db x-trackers, Lyxor, Source, Credit Suisse ETF, UBS ETF, Amundi, ETF Securities, EasyETF, RBS Market Access, SPDR ETF, ETF lab, Invesco PowerShares, ComStage and HSBC ETF.
For further information please contact:
Frankfurt Dealing Desk +49 (0)69 1362 2512
Flow Traders is a leading liquidity provider of Exchange Traded Products (ETPs) on global exchanges. We provide liquidity in ETPs listed across the globe, and in all asset classes.
With a team of over 325 professionals, of which more than 100 traders, Flow Traders provides continuous liquidity concentrating on ETFs, ETNs and ETCs on all major exchanges worldwide. Flow Traders’ flagship entity in Amsterdam has been voted by industry participants as ETF Market Maker Europe 2015 by the Global ETF Awards for the 9th consecutive year and received the best trading house award for ETF’s by ETF RISK every year in the period 2012-2015. Our office in Asia was also recognized for its role and was selected as ETF Market Maker Asia Pacific four times in the last 5 years. Recently the Hong Kong Stock Exchange awarded Flow Traders Asia as well for its market making activities in the USDCNH futures.
Flow Traders has a team of 14 institutional trading professionals, providing institutional counterparties in Europe, Asia and the US and with competitive off exchange ETP pricing on a request for quote basis.
For further information you can reach us on:
Goldenberg Hehmeyer LLP was founded in December 2005. The company specialises in electronic arbitraging across exchanges, asset classes and algorithmic trading. Since August, 2011, Goldenberg Hehmeyer LLP has been making markets in over 70 Exchange Traded Funds on the London Stock Exchange. The firm leverages off of its traders’ extensive ETF market making experience and industry know-how. We have been providing competitive two-way prices on all of the major European exchanges as well as off order book, with the emphasis on emerging market and fixed income underlying.
IMC is a market maker in ETFs in the US, Europe and APAC. The teams in the US and APAC are top-3 liquidity providers on exchange. The team in Amsterdam trades both on and off exchange:
- Focus on European Equity ETFs
- Competitive pricing on and off exchange
- Authorized Participant with 13 issuers
- Registered market maker in all ETFs we trade
Founded in 2000, Jane Street is a highly experienced global ETF liquidity provider that offers reliable and consistent coverage on nearly all of the world’s major exchanges.
- 60 dedicated ETF Traders
- Competitive and dependable coverage across all ETF asset classes, including fixed income, emerging markets and commodities
- Provides OTC markets to professional counterparties
- In-Depth understanding of ETF products and markets
- Experienced dealing in primary market as an Authorized Participant (AP) in most European ETFs
- Trades over $2 Billion of ETFs globally per day
For additional information:
+44 (0)20 3100 3400
KCG provides clients with access to industry leading liquidity through a full spectrum of trading solutions coupled with selection assistance and market analysis in US and European ETFs.
Dedicated and Experienced Team: Award-winning global team. Focused on providing advising services and competitive liquidity in all ETF asset classes with desks located in the US and Europe.
· Across ETF Issuers
· Across Asset Classes
Agency and Risk Execution: Ranging from working orders on agency basis to providing risk pricing and execution via underlying components. Assist transitioning portfolios in and out of ETFs. Looking for the best source of liquidity, minimizing market impact and execution costs
Access to the Primary Market: Via Creation and Redemption capabilities providing clients with an alternative to secondary market trading
Support in Selecting and Evaluating ETFs: Based on clients’ specific objectives and restrictions, presented from an independent point of view, having no conflict of interest
Advice on Implementation Strategies: Defining the optimal execution path and strategy taking into account liquidity and regulatory considerations
Market Insights: ETF markets note published on daily and monthly basis, in addition to ad hoc analysis
Desk +44.207.997.2186 –
Liquid Capital Management is a specialised Fixed Income ETF market maker, providing liquidity in funds with exposure to Government, Corporate, High Yield, Inflation and Emerging Market debt.
Through our strong focus on precise pricing and rigorous risk management, we deliver competitive two-way prices on all major European exchanges (including LSE, Xetra, SIX Swiss Exchange, Borsa Italia and Euronext), as well as in the OTC markets.
Liquid Capital Management is a subsidiary of Liquid Capital Group, which began its life in 2000 making markets in exchange-traded options from its offices in London. Specialising at that time solely in index products, we have grown to become a globally recognised liquidity provider of fixed income, index, equity and commodity exchange-listed products, with additional offices now in Sydney and Hong Kong.
For more information please contact our ETF desk:
Morgan Stanley has earned a worldwide reputation for the excellence of its advice and execution in financial markets. With more than 1,300 offices in 43 countries, the firm is truly global - and a market leader in the U.S., Europe and Asia as well as in emerging markets. Morgan Stanley's success rests on the talents and passion of our people, who share a common set of values and bring excellence and integrity to everything they do. We seek to grow long-term relationships by virtue of our consistently rigorous thinking and the unsurpassed access to financial markets that Morgan Stanley can bring. This means providing leadership in specific areas such as investment banking, debt and equity underwriting, research, and sales and trading. We also focus increasingly on creating custom-tailored solutions that cut across functions to help our clients realize new opportunities and solve complex problems. Our aim is to be the first choice of everyone who deals in financial markets, whether as prospective clients, employees or investors.
Peel Hunt is a leading independent full-service trading and advisory house. We are experts in our chosen fields of corporate broking/finance, investor relations, research, institutional sales, sales trading and market making.
Our strong capital commitment by our market making and trading departments ensures we are regularly ranked as one of the top market makers. The electronic trading platform which we have developed is amongst the most sophisticated in our field.
Peel Hunt stock coverage:
»» FTSE 100, FTSE 250, Mid and Small Cap
»» Investment Trusts
»» Exchange Traded Funds (ETFs)
»» Fixed Income
»» Overseas Securities
The team is organised into market sectors to ensure you engage with highly expert traders. The breadth of our coverage and competitiveness of our pricing make us one of the leading market makers in the UK in terms of market share.
The combination of Peel Hunt’s independence and trading volumes ensures our clients receive the highest level of execution at the right price.
To assist in the development of the ETF sector, Peel Hunt has teamed up with two leading firms to form THREETF, whose goal is to bring to market a series of ETF educational and fund selection resources. Our LEARN resource can be found under ETF education on this site. To find out more please visit www.threetf.com
Optiver is one of the leading liquidity providers in Europe, the US, and Asia Pacific. Founded in 1986, our 700 colleagues are located across 4 continents and represent some 35 nationalities. We trade a wide variety of Delta 1 products, from equity futures and ETFs to ADRs and cash bonds.
Optiver has a team of specialized market makers that trade various ETF segments worldwide, covering:
• Blue chips - European / US / Japanese / World
• Sectors – Stoxx Europe 600
• MSCI indices
In Europe we have the biggest on-exchange market share for the products we’re trading. This is achieved by providing the narrowest possible spreads in combination with the highest possible volumes in both the Voice and Screen markets. In general, it is safe to say that we will only trade a product once we know we’ll be able to quote the tightest spread. In the Voice market we serve a wide range of professional counterparties and we would be happy to provide you with more information via our ETF desk:
SIG Susquehanna (“SIG”) is a world leading liquidity provider across all major asset classes.
In Europe, SIG is ranked #1 ETF market maker*, offering competitive prices both on- and off-exchange in the majority of European and US listed ETFs, making markets across equity, fixed income and commodity based products from all the main issuers.
SIG has played an integral part in the success of ETFs over the past 10 years and has become an essential counterparty for anyone active in the ever-growing ETF space.
For more information please contact ETF sales desk on 00353 1802 8018.
*Source: Markit MSA contributor data for 2012
At the core of Societe Generale’s universal banking business model, the Corporate & Investment Bank is a well-diversified and leading player with nearly 10,000 professionals present in 34 countries across Europe, the Americas and Asia-Pacific. Standing by its clients across sectors, the Corporate & Investment Bank tailors solutions for them by capitalising on its worldwide expertise in investment banking, global finance, and global markets.
· For corporates, financial institutions and public sector: providing a global advisory approach (M&A, debt, equity transaction, capital structure, and asset & liability management), as well as quality capital raising solutions across the debt and equity spectrum, optimised financing and expert risk management responses notably in the realm of foreign exchange and rates derivatives.
· For investors: offering reliable and sound investment opportunities and risk management solutions through its integrated global markets platform delivering seamless access to markets (equity, rates, credit, currencies, commodities and derivatives), as well as advice and solid financial engineering, quality of execution and forward-looking research across asset classes.
Timber Hill (Europe) AG was founded in 1993 and is regulated by the Swiss Financial Market Supervisory Authority FINMA. As one of the largest market makers on many of the world’s leading electronic exchanges, Timber Hill (Europe) AG provides liquidity by offering competitively tight bid/offer spreads over a broad base of tradable, exchange-listed products, including equity derivative products, equity index derivative products, equity securities, futures and exchange traded funds. As principal, we commit our own capital and our proprietary technology is the key to our success.
For additional information, please visit www.interactivebrokers.com
UBS draws on its 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. Its business strategy is centered on its pre-eminent global wealth management businesses and its leading universal bank in Switzerland. Together with a client-focused Investment Bank and a strong, well-diversified Global Asset Management business, UBS will expand its premier wealth management franchise and drive further growth across the Group.
UBS is present in all major financial centers worldwide. It has offices in more than 50 countries, with about 35% of its employees working in the Americas, 36% in Switzerland, 17% in the rest of Europe, the Middle East and Africa and 12% in Asia Pacific. UBS employs about 60,000 people around the world.
For additional information, please visit www.ubs.com
Virtu is the global leader in electronic market making. We actively make markets across a broad range of asset classes including ETFs, equities, foreign exchange, commodities, options and fixed income, providing two-sided liquidity on over two hundred market centers around the world. As market makers, we lower costs for both retail and institutional investors by supplying competitive bids and offers, without seeking to take on risky directional positions. Virtu's liquidity provision plays a vital role in the overall health and efficiency of the global financial markets, especially in times of market turbulence.
Innovation + Technology
Virtu is successful because we focus not just on the trade but on every aspect of the "life cycle" of a trade, from market structure knowledge and execution technology to post-trade processing and relationship management. At the core of our business is the development of innovative, proprietary technology, designed to automate market making and post-trade activities.
Virtu's corporate headquarters is located in New York with trade floors and development groups in Dublin, Austin and Singapore. Each office is comprised of a complete team of traders, developers, risk managers and IT personnel fully able to focus on the growth and opportunities in their specific region.
For further information please visit www.virtu.com or contact Christiaan Scholtes / Bo Bjurgert on +353 1 246 6930
Winterflood Securities is an international capital markets firm committed to efficient and responsive liquidity provision with integrity. Classic trading values and sophisticated modern technology combine to deliver a range of highly-flexible execution services custom-designed for each client.
As one of the leading European liquidity providers, Winterflood makes markets in more UK stocks than any other firm (source: London Stock Exchange). Its team of traders bring a wealth of experience and commitment to market making, offering brokers, asset managers and institutional investors over 13,000 tradable instruments including UK, European and North American equities together with investment trusts, ETPs, Gilts and bonds.
Winterflood also provides low latency integrated electronic trading platforms that allow:
- Immediate access to Winterflood’s internal liquidity in all sectors
- FIX order routing directly to Exchange order books and MTFs
- Dedicated sales trading services for managed orders