| ANZ Banking Group has become the first Australian bank to enter the $18 billion Australian exchange traded fund market, teaming up with London based ETF Securities to list six new securities on the Australian Securities Exchange that are tied to currencies, commodities and the share-market.
The new joint venture will list ETFs linked to US dollar and the Chinese renminbi via deposits at the bank, physical gold stored in its giant vault in Singapore and three equity index linked ETFs tied to the US and Australian share markets. ANZ's co-head of fixed income currencies and commodities Eddie Listori said the ETF market "had enormous potential in Australia" predicting the market will double in size to $40 billion by 2018...............................................Full Article: Source
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