ETF Securities has today launched a second exchange-traded precious metals platform backed by physical metal for trading platinum group metals (pgms) as well as silver and gold.

According to a Dow Jones report, the trading platform will be listed on the Deutsche Boerse, with the accompanying basket of metals weighting standing at 20 per cent for platinum and 12 per cent for palladium, while silver and gold will account for 26 per cent and 42 per cent respectively.

Dealings will be conducted through Xetra - Deutsche Boerse AG's electronic trading system.

News of ETF Securities' new trading platform for pgms follows its announcement earlier this week that its existing London Stock Exchange-based platform has attracted investment equivalent to some 6,051 oz of platinum since launching on April 24th.

A statement from the company indicated that the new platform is intended to capitalise on precisely this increased demand for exchange-traded funds and a similar surge in interest in the Deutsche Boerse's ETC.

According to ETF Securities, the German bourse's ETF segment is the largest in Europe, accounting for over 40 per cent of total European trading volume in exchange-traded funds.

Sources:

ETF Securities Precious Metal ETCs Launch On Deutsche Boerse – Dow Jones, 09/05/07

London ETF accumulates 6,051 ounces of platinum, 04/05/07
http://africa.reuters.com/business/news/usnBAN423662.html

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