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STOXX licensed to Direxion

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STOXX Ltd, the operator of Deutsche Boerse Group’s index business and a provider tradeable indices has announced that the EURO STOXX 50 has been licensed to Direxion Funds to underlie a 3x Leveraged ETF.

“We are delighted that Direxion has chosen our European flagship index to underlie an exchange-traded fund in the U.S.,” says Matteo Andreetto (pictured), chief executive officer, STOXX Limited. “The EURO STOXX 50 Index remains Europe’s most favoured and well-known blue chip equity index. Its liquidity, transparency and rules based methodology makes the index an ideal tool to participate in the performance of the Eurozone equity markets.”

Paul Brigandi, Managing Director at Direxion says: “As political risks dissipate following the results of the French elections, the Eurozone economy strengthens and prospects for earnings improve, this is the ideal time to offer active traders exposure to a highly reputable index tracking 50 of the largest and most liquid blue-chip European stocks.”  

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