The International Securities Exchange (ISE), a leading U.S. options exchange, announced today a licensing agreement with KSM Sal Indices Certificates Ltd., the largest ETF issuer in Israel. The agreement licenses the ISE Water Index to KSM for its Water Fund. The ISE Water Index is recognized 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," said 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," said Mr. Avner Hadad, CEO 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. To learn more about ISE's ETF Ventures team, visit www.ise.com/etfventures. To learn more about KSM, visit www.ksmc.co.il/default_eng.asp.
