"Source was founded to bring a new level of efficiency, liquidty and transparency to European ETF market," commented Source CEO Ted Hood. "This landmark is proof that our approach is working. Source’s unique multi-counterparty platform and robust ETF structure have quickly won investor’s approval."
Since its launch in April 2009, Source has been one of the fastest growing European ETP providers. Despite its short history, Source has also delivered high liquidity, with some of the most actively traded products in the market. "Assets under management don’t tell the whole story," added Hood. "In the two years since launch, we’ve seen turnover of over US$ 240 billion in Source products, a strong signal from the investment community that these are the products they want to trade"
Source brings together some of the world’s largest trading houses and most respected market makers and asset managers. Source’s partners include BofA Merrill Lynch, Goldman Sachs, JP Morgan, Morgan Stanley, Nomura, Nyenburgh and 18 other market makers, as well as leading asset manager PIMCO and Man GLG. In equity ETFs, Source’s market leading swap-enhanced ETF structure combines the security of a physical investment with the use of swaps to minimise tracking error - a highly efficient way to track index performance.
