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Standard & Poor’s licenses S&P 500 to Vanguard

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Index provider Standard & Poor’s has licensed the S&P 500 to Vanguard for the creation and listing of an exchanged-traded fund based upon the index.

The licensing agreement also enables Vanguard to launch eight new equity funds and ETFs targeting the growth and value segments of the S&P 500, and the growth, value and blend segments of the S&P MidCap 400 and the S&P SmallCap 600.

The agreement with Vanguard follows Standard & Poor’s announcement in May that it had licensed seven European ETF sponsors to create and list S&P 500 ETFs on exchanges in major European cities.

It also comes on the heels of Standard & Poor’s March announcement that it had licensed the National Stock Exchange of India to create and list Indian Rupee-denominated futures contracts on the S&P 500.

"Since it was first published in 1957, the S&P 500 has served as the cornerstone for the global development of ETF products, as well as other index-based investments throughout the world," says Alex Matturri, executive managing director at S&P Indices. "Our agreement with Vanguard, and just recently with the seven European ETF sponsors and the NSE, underscores Standard & Poor’s commitment to providing global investors with greater access to the products they need to meet their trading objectives."

A gauge of the US equity market, the S&P 500 Index has over USD4.83trn benchmarked to it globally and approximately USD1.1trn indexed. The index includes 500 leading companies in leading industries of the US economy.

The S&P MidCap 400 provides investors with a benchmark for mid-sized companies.

The S&P SmallCap 600 measures the small cap segment of the market that is typically renowned for poor trading liquidity and financial instability.

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