Bank of America Merrill Lynch has partnered with ETF Securities to start a European equity volatility product in Germany, Financial Times reports. The ETFX-BofAML IVStoxx ETF is based on options prices for the Euro Stoxx 50 index. The collateral held by the swap-based fund will be managed by ETF Securities. The new fund will charge 80 basis points a year.
Click here for the story from Financial Times.