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Nasdaq OMX marks tenth anniversary of Nasdaq-100 ETF launch

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The Nasdaq OMX Group is gearing up to commemorate the tenth anniversary of the launch of the PowerShares QQQ exchange-traded fund, which is benchmarked to the Nasdaq-100 Index.

The Nasdaq OMX Group is gearing up to commemorate the tenth anniversary of the launch of the PowerShares QQQ exchange-traded fund, which is benchmarked to the Nasdaq-100 Index.

The index comprises the 100 largest non-financial stocks listed on the Nasdaq Stock Market.

The index is the basis of over 900 products in 34 countries with approximately USD490bn in notional value tied to the index. It is one of only two indexes that have traded more than 500 million futures with a notional value greater than USD25trn. To date, the Nasdaq-100 index has traded over 600 million futures contracts.

PowerShares QQQ was introduced on 10 March 1999 and has since traded more than 231 trillion shares, making it one of the world’s most liquid ETFs and equity securities.

‘The Nasdaq-100 Index is a globally recognised benchmark by which investors can access a diverse array of some of the world’s largest, most dynamic non-financial companies,’ says Nasdaq OMX executive vice-president John Jacobs.

‘Ten years after its memorable launch, more than one million people are now harnessing the potential of these companies by investing in PowerShares QQQ. We are delighted to commemorate this milestone event with our partner, Invesco PowerShares.’

Bruce Bond, president and chief executive of Invesco PowerShares, adds: ‘Since trading began on 10 March 1999, the PowerShares QQQ has become one of the most actively traded securities in the world fostering wide scale acceptance of the ETF structure among institutions, traders and retail investors.’

PowerShares QQQ and other ETFs have become more prevalent in overall equity trading in the US. In January 2009, ETFs accounted for 21 per cent of all US equity volume, compared with 15 per cent in June 2008.

The Nasdaq’s market share of US ETFs is greater than that of any other US exchange, with average daily matched share volume of 655 million shares in January representing a 22 per cent increase over the same month of 2008.

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