Trio of firms win role on creation of currency trading platform

Clifford Chance, Denton Wilde Sapte and Simmons & Simmons have acted on the creation of a new exchange-traded currency (ETC) platform. This was a first instruction for Dentons by ETF Securities, which asked the firm to advise it on the creation of one of the world’s largest ETC platform with an initial maximum fund size of US$5bn (£3bn). ETCs have become increasingly popular in recent years because of their relatively low cost. Dentons lead partner Chris Borg said: “They provide a pure exposure to an underlying risk, they’re provided in an easily investible form and they’re typically seen as a good value investment because they have low management cost as compared with managed funds.

Trio of firms win role on creation of currency trading platform thelawyer.com Fri, Nov 13, 2009