FTSE Group (FTSE) has licensed the FTSE 100 Index to Recon Capital Partners to serve as the underlying benchmark for the Recon Capital FTSE 100 ETF, the only US-listed ETF benchmarked to the UK’s flagship equity index.
Following the ETF’s launch on Nasdaq, investors now opportunity to trade the FTSE 100 throughout the 24 hour trading day, globally.
The FTSE 100 Index, the main indicator for the performance of companies listed on London Stock Exchange, celebrated its 30th anniversary in 2014. The highest end-of-day value reached to date is 7103.98, which occurred earlier this week. The combined market capitalisation of FTSE 100 Index constituents is approximately £2 trillion. By comparison, 30 years ago the market capitalisation was only GBP164 billion.
Mark Makepeace, Chief Executive, FTSE Group, says: “Our ETF licensing business continues to expand across North America and this new product launch represents a great example of working across borders to create new opportunities. We are delighted that ETFs linked to the FTSE 100 Index can now trade continuously, and very pleased to work with Recon Capital Partners to help bring this to market.”
Kevin Kelly, Managing Partner, Recon Capital Partners, says: “With the arrival of the Recon Capital FTSE 100 ETF, the sun will never set on the ability to trade ETFs benchmarked to Britain’s flagship index. This ETF continues our firm’s objective to provide U.S. investors with exposure to the premier benchmarks in Europe. We are thrilled to work with an indexing leader like FTSE to bring this exciting new ETF to market.”