ishares on Irish SE vs London SE

B

bogle

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Hi All,
I'm interested in the ishares ETF "iShares MSCI Europe".
This etf index tracker is listed on the Irish Stock Exchange sedol=B1YZSC5 priced in euro and on the London stock by ticker IMEU priced in sterling (GBX). Is there any reason why I should not buy it on my local Irish Stock Exchange if available? Why buy in sterling when it can be purchased locally with Euro?
I have a custody acc with NIB.

Thks,
Zug
 
buy it with ur own currency unless you think sterling is goign to get a lot stronger
 
mickman said:
buy it with ur own currency unless you think sterling is goign to get a lot stronger
Click to expand...

There is no difference in buying it in Euro or sterling except for any charges on the FX conversion. The price is pretty much NAV based.
 
Will you have to pay 1% stamp duty if you buy on the ISE? You could avoid the stamp duty by buying (in euro) on the amsterdam or milan markets (and maybe others). The ishares web page should give you details of where the etf is quoted.
 
How liquid is the ISE for iShares? What's the bid/offer spread on the ISE? You can generally get an order for iShares filled on the spot on the LSE. Can you do this on the ISE?
 
I think the ISEQ index is the only one traded on ISE, the rest are all London listed. Liquidity is very good, as their are market makers who maintain a tight spread for significant volumes.
 
Hi Lads,
A belated thanks very much for the replies. All of the iShares I’m interested in are also listed on the Euronext exchange in Amsterdam and are priced in Euro. As mentioned above the quoted exchange price tracks the NAV. My personal preference would be to buy iShares priced in Euro and NIB (whom I have a custody account with) says there’s no problem buying them on Euronext at no extra commission over and above purchasing on the LSE.


Bogle
 
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