Source’s assets reach USD2.2bn
Source, a provider of exchange-traded products, says total assets in its range of products have reached USD2.2bn (EUR1.5bn).
Source’s new sector products have gathered nearly USD950m (EUR650m) in just over two months in the market and have been widely accepted in the institutional market, particularly by hedge funds.
The products are designed to facilitate trading and investment through buying, short-selling, borrowing and lending.
Source’s chief executive Ted Hood says: “The speed with which the market has embraced our new optimized sector products has amazed us. We believe that the market has been waiting for a set of products that are fully functional and combine trading efficiency, improved counterparty risk profile and a set of indices designed to address the needs of both traders and investors.”
Source’s optimised sectors have seen daily turnover topping 20 per cent of outstanding assets. Source’s optimised sector products have jumped to EUR650m (USD950m) in assets representing 13 per cent of outstanding sector assets but on peak days over 50 per cent of market trading volumes.
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