NASDAQ OMX (NASDAQ:NDAQ) today launched trading in a new series of ETFs (Exchange Traded Funds) from SEB. The ETF portfolio from SEB is named SpotR and today (March 16) three new ETFs were listed on NASDAQ OMX Stockholm: SpotR OMXS30, SpotR Bull OMXS30 and SpotR Bear OMXS30.
All three ETFs track the OMXS30 (OMX Stockholm 30) index, which is calculated by NASDAQ OMX and comprises the 30 most actively traded companies on NASDAQ OMX Stockholm. The Bull and Bear products are leveraged ETFs that offer twice the return of the daily change in the underlying OMXS30 index. The leverage increases the chance for higher return but also the risk level and is intended primarily for experienced customers.
“We are delighted to add SEB as a customer on NASDAQ OMX’s ETF market, and this launch underscores the rising interest in these products in the Nordic region,” says Jenny Rosberg, Deputy President NASDAQ OMX Nordic. ”During 2010 trading in NASDAQ OMX listed ETFs amounted to over SEK 200 billion in the Nordics, and we are hopeful that the market will continue to grow as we expand our offering.”
Peter Dahlgren, Global Manager, Institutional Customers, SEB Asset Management, commented: ”SEB foresees great potential in the ETF market and through the SpotR portfolio we are complementing our total offering of financial products. Going forward, we intend to increase our offering of ETFs linked to other underlying assets in order to develop a broad portfolio aimed at both private and institutional investors.”
An ETF fund is a security that tracks an index, a commodity or a basket of assets, at the same time as it is traded as a share on an exchange.
