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LONDON - Amundi Physical Metals plc announced on Monday the issuance of 57,000 new ETC securities as part of Tranche 705 of its Amundi Physical Gold ETC program. This latest issuance brings the total number of outstanding securities in the series to 60,803,859.
The new securities will be admitted to trading on multiple European exchanges, including Euronext (EPA:ENX) Paris, Euronext Amsterdam, Deutsche Börse, and Borsa Italiana, as well as the London Stock Exchange (LON:LSEG) and the International Quotation System of the Mexican Stock Exchange.
Each ETC security provides investors with exposure to physical gold without requiring physical delivery. The metal entitlement per security currently stands at 0.03966933 fine troy ounces of gold, with the gold held in allocated accounts by HSBC Bank plc as custodian.
The securities carry a total expense ratio of 0.12% per annum and have a scheduled maturity date of May 23, 2118. In the event of early redemption, securities would be redeemed for cash based on the value of the underlying gold.
Authorized participants for the program include major financial institutions such as HSBC Bank plc, Jane Street Financial Limited, Flow Traders B.V., Optiver VOF, BNP Paribas (OTC:BNPQY) Arbitrage SNC, and Virtu Financial (NASDAQ:VIRT) Ireland Limited.
According to the press release statement, the ETC securities are designed to offer investors a relatively straightforward means of gaining exposure to gold price movements through exchange-traded securities rather than direct physical ownership.
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