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Two Dow Jones indexes licensed to Casam

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The Dow Jones Euro Stoxx 50 Short Index and the Dow Jones Euro Stoxx 50 Leveraged Index have been licensed to Crédit Agricole Structured Asset Management to serve as underlying f

The Dow Jones Euro Stoxx 50 Short Index and the Dow Jones Euro Stoxx 50 Leveraged Index have been licensed to Crédit Agricole Structured Asset Management to serve as underlying for exchange-traded funds.

The Casam ETF Leveraged Dow Jones Euro Stoxx 50 and Casam ETF Short Dow Jones Euro Stoxx 50 will be available on NYSE Euronext, Paris, from today.

The Dow Jones Euro Stoxx 50 Short and the Dow Jones Euro Stoxx 50 Leveraged indexes are part of the Dow Jones Stoxx strategy index family. They replicate a short and a leveraged investment strategy, which is tied to the performance of the Dow Jones Euro Stoxx 50 Index.

"Both indexes licensed by Casam represent investment strategies whose access was in the past limited to market participants transacting in the over-the-counter market. These indexes provide benchmarks that make these strategies more accessible with the added advantage of a rules-based and transparent methodology," says Ricardo Manrique, chief executive officer, Stoxx. "The Dow Jones Euro Stoxx 50 Short Index is a superior tool for market participants who seek to obtain positive returns in bearish markets, while the Dow Jones Euro Stoxx 50 Leveraged Index provides the opportunity to increase returns in upward markets."

Valérie Baudson, managing director of Casam ETF, adds: "By licensing the Dow Jones Euro Stoxx 50 Short and Dow Jones Euro Stoxx 50 Leveraged indexes for our new equity strategy products, we are adding a new dimension to the Casam ETF portfolio."

The Dow Jones Euro Stoxx 50 Short Index replicates the inverse daily performance of the total return version of the Dow Jones Euro Stoxx 50 Index. A negative performance of the blue-chip index results in a positive performance of the Dow Jones Euro Stoxx 50 Short Index, and vice versa. If the Dow Jones Euro Stoxx 50 Index loses five per cent, the Dow Jones Euro Stoxx 50 Short Index consequently gains five per cent. The cost of dividends and the benefit of earning interest are also taken into account in the index calculation.

The Dow Jones Euro Stoxx 50 Leveraged Index replicates a leveraged investment strategy linked to the daily performance of the price return version of the Dow Jones Euro Stoxx 50 Index, i.e. a leverage factor of two is applied. If the Dow Jones Euro Stoxx 50 is up five per cent, the Dow Jones Euro Stoxx 50 Leveraged Index is up ten per cent respectively. The cost of borrowing is also taken into account in the index calculation.

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