BarCap launches iPath ETNs in London

Barclays Capital launched its iPath Exchange Traded Notes (ETNs) on the London Stock Exchange (LSE) today. Nine of the 12 ETNs will provide investors with exposure to commodities, and three to volatility. The introduction of the products in the UK follows their success in the US, where the bank has a 70% share of a market that includes 10 issuers. "The [exchange-traded product] market in Europe is set to grow by around 35% to $280 billion in 2010 and we expect the ETN market to grow substanti