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NYSE Euronext to launch 12 leveraged and short indices on European markets

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NYSE Euronext has announced the expansion of its range of strategy indices with the launch of 12 new products based on its national indices, AEX, BEL 20, CAC 40 and PSI 20.

NYSE Euronext has announced the expansion of its range of strategy indices with the launch of 12 new products based on its national indices, AEX, BEL 20, CAC 40 and PSI 20.

For each of these national indices, three new strategies – X3 Leverage, Double Short and Triple Short – will be available as the underlying basis exchange traded funds.

X3 Leverage indices track the performance of a strategy that trebles exposure to an underlying index with the support of short-term financing. They enable investors to earn a daily return that trebles that of the underlying index minus the financing cost embedded in the strategy.

Double Short indices track the performance of a strategy that combines a double inverse exposure to an underlying index with the exposure to a risk-free money market instrument. The index reflects a strategy that yields, on a daily basis, the double inverse performance of an underlying index.

Triple Short indices track the performance of a strategy that combines a treble inverse exposure to an underlying index with the exposure to a risk-free money market instrument. The index reflects a strategy that yields, on a daily basis, the treble inverse performance of an underlying index.

‘The launch of these indices extends our family of strategy indices which reflects our commitment to providing investors with additional opportunities to apply strategies using our blue-chip indices as a basis, and issuers of structured products with effective tools to meet their needs and keep pace with market developments’ says George Patterson, head of global index design at NYSE Euronext’s global index group.

The new indices are calculated and disseminated as from 4 February 2009. The calculation will be made continuously, every 15 seconds, throughout the trading day. The base value of the Double Short indices is set at 1,000 on 31 December 2002, while the Triple Leverage and the Triple Short have a base value equals to 10,000 at the same date.

Since its launch in December 2007, the strategy indices family, including 24 indices and six strategies, has been used as the underlying basis for five ETFs.

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