BNY Mellon, State Street, JP Morgan and HSBC have signed up for BlackRock’s exchange-traded funds iShares to increase their use among UK institutional investors.
Most of the UK pension schemes are, currently, not investing directly in ETFs as only FSA-regulated schemes are allowed to purchase stocks.
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The partnership by the four major custodians will increase the use of ETFs by institutional investors in the UK market, as pension schemes will now be able to buy and sell ETFs through their custodians.
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