US options exchange the International Securities Exchange (ISE) has signed a licensing agreement with KSM Sal Indices Certificates, the largest exchange-traded fund issuer in Israel.
The agreement licenses the ISE Water Index to KSM for its Water Fund. The ISE Water Index is recognised by Morgan Stanley Smith Barney’s Global Investment Committee as the best investment idea for 2012, and has been named one of its top investment ideas for 2013.
"Our international partnership with KSM represents a range of expansion and the pursuit of international growth opportunities that ISE has taken in the ETF industry," says Kris Monaco, head of ISE ETF ventures. "KSM’s track record of ETF management complements the recent success and recognition of the ISE Water Index and we look forward to working with KSM to introduce this product to a broadened investor pool."
"We are excited about this new cooperation with ISE, which expands KSM’s product suite via exposure to the professional expertise and methodology provided by the ISE Water Index," says Avner Hadad, chief executive of KSM. "KSM always aims to lead innovation and actively develop the ETF market in Israel and is delighted to have ISE among its international partners."
This is ISE’s first licensing agreement with an Israeli ETF issuer, and will mark the 20th exchange traded product (ETP) based on a proprietary ISE Index.
