BlackRock joins with Euroclear and Clearstream in share migration

BlackRock have joined with post-trade services provider Euroclear and central securities depository Clearstream to migrate 20 iShares ETFs to an international issuance and settlement structure.

Having first launched an ETF on this platform in 2013, the 20 additional ETFs, worth $2.9 billion in assets under management, represent the first in the pre-existing range to transition to the new model.

Under this platform, an international central securities depository performs the issuance and settlement of ETFs.

Leland Clemons, global head of iShares capital markets at BlackRock said: “As the global demand for European-domiciled ETFs continues to grow at pace, the ecosystem supporting the industry has never been more important.

“Our partnership with Euroclear and Clearstream to create a multi-national central settlement and clearing venue for European securities is testament to our commitment to making ETF trading more efficient.”

Stephan Pouyat, global head of capital markets at Euroclear spoke about the aim of the venture.

“What we are doing is effectively simplifying the European issuance and settlement process for this much sought-after investment product.

“The huge growth in European ETFs shows no sign of abating, and it is critical that the infrastructure providers like Euroclear have the right platforms and processes in place.”