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LONDON - Amundi Physical Metals plc announced on Tuesday the issuance of 750,000 new ETC (Exchange Traded Commodity) securities as Tranche 762 of its Amundi Physical Gold ETC series.
The new tranche will bring the total number of ETC securities in the series to 65,217,759, according to a statement based on the company’s press release. The securities are scheduled to be admitted to trading on multiple European exchanges, including Euronext Paris, Euronext Amsterdam, Deutsche Börse, Borsa Italiana, and the London Stock Exchange.
Each ETC security in the series provides investors with exposure to physical gold without requiring them to take physical delivery of the metal. The current metal entitlement per security stands at 0.03965394 fine troy ounces of gold.
The company maintains a total expense ratio of 0.12% per annum for the ETC securities. These instruments have a scheduled maturity date of May 23, 2118, offering investors a long-term investment vehicle linked to gold prices.
The securities are backed by physical gold held in allocated accounts with HSBC Bank plc serving as custodian. This arrangement ensures that gold is held in segregated accounts at the custodian’s London vault.
Authorized participants for the series include HSBC Bank plc, Jane Street Financial Limited, Flow Traders B.V., Optiver VOF, BNP Paribas Arbitrage SNC, and Virtu Financial Ireland Limited.
The ETC securities are governed by Irish law and secured by limited recourse obligations of the issuer. They are designed to provide investors with an alternative means of gaining exposure to gold price movements through securities markets.
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