First Metro ETF signs agreement to list the country’s first exchange traded fund
Wednesday, October 23, 2013
First Metro Philippine Equity Exchange Traded Fund (First Metro ETF), sponsored and organized by First Metro Investment Corporation, signed key agreements with the Philippine Stock Exchange (PSE) that will pave the way for the listing of the country’s first ever exchange traded fund. PSE CEO and President Hans Sicat and First Metro ETF president Eduardo Carreon signed the Index Provider Agreement, allowing First Metro ETF to track the PSEi, and the Listing Agreement which outlines First Metro ETF’s responsibilities as a listed company on the Exchange. Three other agreements were signed consecutively by the companies who will manage the First Metro ETF - the Market Maker Agreement, Authorized Participant Agreement and the Custodian Agreement. The First Metro ETF is set to list on the PSE on December 2. In photo during the signing ceremony are: (from left) First Metro ETF Treasurer Marie Arabella Veron; First Metro Asset Management, Inc. President Augusto Cosio, Jr.; PSE CEO and President Hans Sicat; HSBC COO John Nicholls; First Metro President Roberto Juanchito Dispo; First Metro ETF President Eduardo Carreon; and IGC Securities, Inc. President Ismael Cruz.