The company offers two ETNs - iPath Gold ETNs and iPath Silver ETNs.
With financial institutions increasingly starting to offer their products for free, such as zero-commission stock trading, Barclays Plc has joined in by starting the first no-fee Exchange -traded notes (ETNs) in the United States.
According to a statement released by the British bank on Monday, the ETNs are split into two categories - iPath Gold ETNs (Ticker: GBUG) and the iPath Silver ETNs (Ticker: SBUG). Furthermore, the ETNs are the first no-fee exchange-traded products to offer exposure to precious metals, the company said.
The ETNs are set to begin trading on the NYSE Arca exchange this Tuesday. The iPath Gold ETN will track the Barclays Gold 3 Month Index Total Return gauge, the company said in its statement. The iPath Silver ETN, on the other hand, will follow the Barclays Silver 3 Month Index Total Return index.
Commenting on the announcement, Ian Merrill, Managing Director and Head of US Equity Derivative Sales, said: “Since Barclays brought the first ETNs to the US market in 2006, we have been consistently focused on providing investors with innovative and efficient products.
“Today marks another exciting day in the evolution of Barclays’ iPath platform with the introduction of the first-ever ETNs that have no investor fees, and the first-ever no-fee ETPs offering exposure to precious metals.”
The fee war continues
Barclays is the latest asset manager to start offering a commission-free trading product. Fidelity Investments started off the trend in the space, by offering no-fee mutual funds, which was followed by Social Finance Inc., otherwise known as SoFi, which removed fees on two broad stock ETFs.
However, according to a report from Bloomberg, despite providing investors with notes that are free and have a tax advantage over physically-backed commodity products, the British bank may struggle to attract investors.
“I don’t think these are likely to move the needle all that much,” Eric Balchunas, an analyst at Bloomberg Intelligence, highlighted. “For the most part, when people invest in gold and silver, they like to have it physically backed.”
With financial institutions increasingly starting to offer their products for free, such as zero-commission stock trading, Barclays Plc has joined in by starting the first no-fee Exchange -traded notes (ETNs) in the United States.
According to a statement released by the British bank on Monday, the ETNs are split into two categories - iPath Gold ETNs (Ticker: GBUG) and the iPath Silver ETNs (Ticker: SBUG). Furthermore, the ETNs are the first no-fee exchange-traded products to offer exposure to precious metals, the company said.
The ETNs are set to begin trading on the NYSE Arca exchange this Tuesday. The iPath Gold ETN will track the Barclays Gold 3 Month Index Total Return gauge, the company said in its statement. The iPath Silver ETN, on the other hand, will follow the Barclays Silver 3 Month Index Total Return index.
Commenting on the announcement, Ian Merrill, Managing Director and Head of US Equity Derivative Sales, said: “Since Barclays brought the first ETNs to the US market in 2006, we have been consistently focused on providing investors with innovative and efficient products.
“Today marks another exciting day in the evolution of Barclays’ iPath platform with the introduction of the first-ever ETNs that have no investor fees, and the first-ever no-fee ETPs offering exposure to precious metals.”
The fee war continues
Barclays is the latest asset manager to start offering a commission-free trading product. Fidelity Investments started off the trend in the space, by offering no-fee mutual funds, which was followed by Social Finance Inc., otherwise known as SoFi, which removed fees on two broad stock ETFs.
However, according to a report from Bloomberg, despite providing investors with notes that are free and have a tax advantage over physically-backed commodity products, the British bank may struggle to attract investors.
“I don’t think these are likely to move the needle all that much,” Eric Balchunas, an analyst at Bloomberg Intelligence, highlighted. “For the most part, when people invest in gold and silver, they like to have it physically backed.”
BGC Group Secures Backing from Global Banks for New $600M Trading Platform
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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