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Stoxx and S&P licence indexes to new ETF provider Source


Stoxx, a provider of European equity indexes, has announced that six Dow Jones Stoxx indexes have been licensed to new exchange-traded fund provider Source.

Stoxx, a provider of European equity indexes, has announced that six Dow Jones Stoxx indexes have been licensed to new exchange-traded fund provider Source.

In addition, Standard & Poor’s has licensed Source to create and launch 22 exchange-traded commodity products based upon the S&P GSCI.

Source is a specialist provider of exchange-traded products backed by Bank of America Merrill Lynch, Goldman Sachs and Morgan Stanley.

The six Dow Jones Indexes licensed to Source are the Dow Jones Euro Stoxx 50, Dow Jones Euro Stoxx Select Dividend 30, Dow Jones Stoxx 50, Dow Jones Stoxx 600, Dow Jones Stoxx Small 200 and Dow Jones Stoxx Mid 200.

They will serve as the basis for six ETFs, which are available on Deutsche Börse.
"The Dow Jones Stoxx indexes licensed by Source for their ETF line-up offer market participants a variety of choices to participate in the performance of the European market", says Ricardo Manrique, chief executive officer of Stoxx. "The indexes’ rules-based and transparent methodology make them superior tools to measure blue-chip, small- or mid-cap companies, dividend paying companies or follow an established benchmark."
The Dow Jones Euro Stoxx Index series provides measures for the euro zone and represents the following 12 countries: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxemburg, the Netherlands, Portugal and Spain. The pan-European Dow Jones Stoxx Index series covers companies in the following 18 countries: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom
The Dow Jones Euro Stoxx 50 and the Dow Jones Stoxx 50 indexes represent 50 super-sector leaders from the euro zone and Europe respectively. Both indexes are weighted by float-adjusted market capitalization, and each component’s weight is capped at ten per cent of the index’s total free-float market capitalization.
The Dow Jones Stoxx 600 Index is designed to provide a broad yet liquid representation of large, mid and small capitalization companies. The Dow Jones Euro Stoxx Select Dividend 30 Index consists of the highest dividend paying companies in the Dow Jones Euro Stoxx Index. It is weighted by net dividend yield, with a component cap of 15 per cent.

Meanwhile, the S&P GSCI measures general commodity price movements and inflation in the world economy. The index provides investors with a reliable and publicly available benchmark for investment performance in the commodity markets and is designed to be tradable, readily accessible to market participants, and cost efficient to implement. It is calculated primarily on a world production weighted basis, and is comprised of the principal physical commodities that are the subject of active, liquid futures markets.

A total of 35 index products from Source are now tradable on the pan-European exchange platform Xetra. The market launch of 13 equity index ETFs and 22 ETCs is the first product offering from Source.

‘We welcome new issuer Source to Xetra and are pleased that this new provider has chosen to be listed on Europe’s leading platform for exchange-traded index products. Investors across Europe are now able to benefit from the concept of Source’s products and a much larger range of products on Xetra,’ says Rainer Riess, managing director of Xetra Market Development at Deutsche Börse.

Two ETFs connected to the FTSE 100 and FTSE 250 are also available. In addition, Source has launched ETFs on the Russell 2000, MSCI Europe, Japan, US and world equity indices.

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