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Dow to underlie ETF in Switzerland


The Dow Jones Industrial Average has been licensed to Credit Suisse to serve as underlying for an exchange-traded fund.

The Xmtch (IE) on Dow Jones Industrial Average is available at the SIX Swiss Exchange.

"The Dow Jones Industrial Average is an American icon and the world’s most frequently quoted stock market indicator, with a history of well over 100 years," says Michael A. Petronella, president, Dow Jones Indexes. "By licensing The Dow, Credit Suisse adds a supreme benchmark to their ETF portfolio, and enables market participants to measure the performance of the US market through 30 well chosen blue chip companies."

The Dow Jones Industrial Average is a price-weighted index that tracks 30 of the biggest and most widely recognised blue-chip stocks in the US selected by the editors of The Wall Street Journal.

It covers industries such as financial services, technology, retail, entertainment and consumer goods.

To calculate the Dow, the sum of the stock prices are divided by an index divisor, which is used to adjust for stock splits and other corporate actions that may affect the index’s composition.

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