ETF Securities has boosted its exchange-traded commodity (ETC) platform, ETFS Commodity Securities, Mondovisione reports. The London-based exchange-traded products provider has added Bank of America Merrill Lynch (BofA Merrill), through Merrill Lynch Commodities, as a second counterparty.
The lender will join UBS as a Commodity Contract Counterparty to ETFS Commodity Securities on or after April 13, 2011. BofA Merrill will be appointed as a counterparty on the same terms as UBS and will collateralize its obligations to ETFS Commodity Securities on a daily basis.
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