ArcaEx Index Services includes index ticker symbol creation, real time calculation of third party indices, and a real-time data feed. Listed indexes will also have dedicated space on the ArcaEx website offering a description of the index calculation methodology, charts, downloadable data tools and other features for real time and historical values. Archipelago plans to launch the service in the third quarter of 2005 and has already received strong client interest.
"The number of indices in the U.S. is growing rapidly as more creative investors continue to seek benchmarks for their unique investing styles, which is leading to increased demand for listings services at the exchanges," said Lisa Dallmer, Director of ETF Listings Services at the Archipelago Exchange. "ArcaEx has a unique position as an electronic exchange to facilitate these index listings through our ability to better handle real-time information and calculations."
Dallmer continued, "The real upside for ArcaEx is the opportunity to be well-positioned to list indexes that attract the interest of a sponsor and ultimately become exchange-traded funds (ETFs). The ETF market is poised for growth, and electronic exchanges are an ideal listing venue for these incredibly liquid investment tools."
"Electronic exchanges like ArcaEx are a great place for the listing of an index," said Guy Amico, president of Newbridge Securities Corporation. "We are thrilled to be the first client and believe ArcaEx's technology platform provides just the traction needed to increase the use of our Nanotechnology index."
The Newbridge Nanotechnology Index has been constructed to track the stock market performance of companies that are currently active in nanotechnology, which involves the precise assembly and manipulation of matter at the atomic or molecular level.
