Why no US-listed US index ETFs/ETPs?

I’ve been paper trading the S&P500 for a little while and want to get into the real thing (inside the ISA), but it’s annoying that we can only trade the LSE-listed VUSA as the time difference between the NYSE/NASDAQ and the LSE only gives a couple of hours to trade this index after the US open.

While VUSA is a good way of trading the pre-market from the UK, it would be considerably more useful to also have an identical US-listed ETF like VOO which spans the full US trading day. Likewise, it would also be nice to have both UK and US listed ETPs for the same index. This would open up a lot more trading opportunities (both short and long term) as well as eliminating much of the risk compared to CFDs - plus it would be tax-free inside the ISA.

Would it be possible to add something US-listed like VOO or SPY? It seems weird that this isn’t already available and I’m curious as to why :thinking:

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It is down to UK/EU regulations, specifically they need to be UCITS compliant, and US listed funds are generally not.

UCITS are investment funds, regulated at a European Union (EU) level. In creating a set of common rules and regulations it allows such funds:

to seek a single authorisation in one EU member state, and
to register for sale and market across EU member states.

JustETF is also a good site to search for UCITS funds, as you can select your country, and it will update the list of ETFs you can search that are eligible for sale in your country.


Is that not irrelevant though if they’re US-listed? I mean, surely the only complication from UCITS compliance would come if the trades are OTC rather than being executed on the NYSE/NASDAQ, right? :thinking:

Would there be any way of getting around this to take advantage of the full US market hours?

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Being US listed doesn’t stop you being a UK/European investor. The regulations still apply otherwise you are suggesting that there be a legal loophole.

There is of course a legal loophole if you can certify you are a high net worth individual.


Happy :cake: day @Scrooge_McCodf

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