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Nornickel’s Global Palladium Fund lists world’s only physically backed copper and nickel ETCS on Germany’s XETRA stock exchange

  • Most competitive TERs in the European marketplace and strong ESG credentials
  • First ETC provider to use blockchain technology to provide investors with greater transparency and security
  • Investors can benefit from the copper and nickel’s role in the clean energy revolution

The Global Palladium Fund (GPF), established by MMC Norilsk Nickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has listed the world’s only physically-backed copper and nickel Exchange Traded Commodities (ETCs) on Xetra. 

They are competitively priced with an annual total all-in cost of 0.85% and 0.75% respectively, making them the most cost-effective way for European-based investors to achieve exposure to the metals through an exchange traded product, as they seek to take advantage of the energy transition megatrend.  Copper and nickel are two of the minerals that will feature prominently in the transition to clean energy as highlighted by the International Energy Agency in their recent report, The Role of Critical Minerals in Clean Energy Transitions.[1]

Targeting family offices, wealth managers, institutional and other similar professional investors, the new physically-backed copper and nickel ETCs will track the spot price of the metals.  The metal backing GPF ETCs is stored in secure warehouses in Rotterdam.  All six of GPF’s physically-backed, low-cost metal ETCs which also include gold, silver, platinum and palladium are now listed on Xetra.  The ETCs are also available on LSE, SIX and Borsa Italiana.

GPF is the first ETC issuer to use Blockchain technology to provide investors with enhanced transparency and security in their metal ETCs by recording bar information into distributed ledger technology.

As outlined in the issuing prospectus, the copper and nickel backing the ETCs is sourced from MMC Norilsk Nickel and other producers and metal suppliers which have confirmed their compliance with the Sustainable Development Goals of the UN 2030 Agenda and other global initiatives in sustainable development and responsible mining.  GPF is the only major ETC issuer to make such a pledge.

To strengthen ETC investor security, GPF uses IBM’s Hyperledger Blockchain in the custody chain of the metal.   This is in addition to the traditional processes used by the custodian, enhancing the transparency and accountability of the issuer.  By recording bar and cathode information on the blockchain, it provides clear ownership and an immutable custody chain for investors using the ETCs.

Alexander Stoyanov, Chief Executive Officer of GPF said: “Listing our physical copper and nickel ETCs in Germany is another important milestone in the democratisation of metal investing, enabling investors low-cost access to two metals which will have a fundamental role in the transition to clean energy. They also benefit from enhanced transparency and security and sustainable supply source, thanks to our innovative use of blockchain technology and our commitment to sustainable development and responsible mining.”

Notes to editors

Sustainably sourced

Good Delivery Rules’ set by LBMA, LPPM, and LME for precious and base metals are universally acknowledged as the de facto international standard for due to the strict criteria that apply to responsible mining operations and protection of human rights.

LBMA established the Responsible Gold Guidance for Good Delivery Refiners that follows the five-step framework due diligence of the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals.

GPF ETCs listings

ETCLSE Ticker (USD)LSE Ticker (GBP)Xetra Ticker (EUR)Borsa Italiana (EUR)SIX (CHF)
GPF Physical Copper ETCTCOPTCUSOIIETCOPTCOP
GPF Physical Nickel ETCTNIKTNIS0IIFTNIKTNIK
GPF Physical Gold ETCTGLDTAUS0IIATGLDTGLD
GPF Physical Silver ETCTSLVTAGS0IIBTSLVTSLV
GPF Physical Palladium ETCTPALTPDS0IIDTPALTPAL
GPF Physical Platinum ETCTPLTTPTS0IICTPLTTPLT

[1] International Energy Agency, The Role of Critical Minerals in Clean Energy Transitions, May 2021