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Stoxx expands strategy index series

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Stoxx, an index provider and creator of European equity indices, has launched the Stoxx Europe 600 Daily Short Index, as well as 19 new sector indices that will replicate a daily double short investment strategy.

The new sector indices are based on the Stoxx Europe 600 Supersector Indices, which represent the largest European companies in each of the 19 supersectors as defined by the Industry Classification Benchmark.

The Stoxx Europe 600 Daily Short Index and the Stoxx Europe 600 Supersector Daily Double Short Indices are designed to underlie financial products such as exchange-traded funds and structured products.

"The Stoxx Europe 600 Daily Short and Stoxx Europe 600 Daily Double Short Supersector Indices complement our existing range of short and double short index strategies on the Stoxx Europe 600 Index and its supersectors," says Hartmut Graf (pictured), chief executive officer, Stoxx. "The new indices are based on a unique and innovative methodology which is aimed at market participants who seek leveraged upside exposure during bearish market environments."

The Stoxx Europe 600 Daily Short Index is linked to the daily performance of the Stoxx Europe 600 Gross Return Index in an inverse way – a negative performance of the Stoxx Europe 600 Gross Return Index results in a positive performance of the Stoxx Europe 600 Daily Short Index, and vice versa.

The Stoxx Europe 600 Supersector Daily Double Short Indices replicate a double short investment strategy that is inversely linked to twice the performance of the Stoxx Europe 600 Gross Return Supersector Indices. A negative performance of a Stoxx Europe 600 Supersector Index results in twice the positive change in its respective Stoxx Europe 600 Supersector Daily Double Short Index, and vice versa.

The new indices are calculated in Euro.

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