Dec. 8 （Bloomberg） -- Credit Suisse Group AG is seeking to list an exchange-traded product backed by aluminum in London, according to a person familiar with the draft prospectus.
The proposed fund will use metal in warehouses monitored by the London Metal Exchange, the person said, declining to be identified because the information isn’t public. Chris Hamilton, a spokesman for the Financial Services Authority, Jonny Blostone, a spokesman for the London Stock Exchange, and Billie Clarricoats, a spokeswoman for Credit Suisse in London, declined to comment when contacted by phone today.
ETF Securities Ltd., whose managers started the world’s first gold-backed exchange-traded product, said yesterday similar funds holding copper, nickel and tin will start trading in London on Dec. 10. JPMorgan Chase & Co. and BlackRock Inc. have also announced plans to start such funds.
--Editors: Claudia Carpenter, John Deane
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