Index provider STOXX said that the STOXX Europe 600 index has been licensed to ALPS, a leading US-based investment management specialist, to serve as the basis for an exchange-traded fund (ETF). The ETF will be listed on New York Stock Exchange (NYSE) Arca today.
It is the first time that the STOXX Europe 600 has been licensed to underlie an ETF in the US. Currently 10 exchange-traded products (ETPs) are available on the index globally.
“Licensing the STOXX Europe 600 for the first time for an ETF listed in the United States is an important step for us and shows that our products are gaining recognition there,” said Hartmut Graf, chief executive officer (CEO), STOXX Limited.
“The STOXX Europe 600 remains the most favored benchmark for developed Europe. Its liquidity, transparency and rules-based methodology make it an ideal tool for investors seeking exposure to a broad range of European equities.”
The STOXX Europe 600 Index represents the performance of companies across 18 European countries: Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom.
The index’s 600 components include the constituents of the STOXX Europe 200 Large, the STOXX Europe 200 Mid and the STOXX Europe 200 Small indices. The STOXX Europe 600 accounts for about 90% of the market cap for developed Europe.
The STOXX Europe 600 Index launched in June 1998 and daily historical data are available from the end of 1986. The index is calculated in price, net and gross return versions, and is available in euro, US dollar, Canadian dollar, British pound and Japanese yen.
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