FTSE Group (“FTSE”), the global index provider, licensed BBVA, the leading multinational Spanish banking group, to use the FTSE LATIBEX Brasil Index and the FTSE LATIBEX TOP Index to create two new Exchange Traded Funds (ETFs), which listed on the Spanish Stock Exchange this morning.
Imogen Dillon Hatcher, Managing Director, FTSE Group commented: “FTSE and its partners are committed to providing the investment community with indexing services to meet market demand. These new ETFs prove again that FTSE indices have become internationally established as an innovative basis for new investment products worldwide.”
The FTSE LATIBEX Brasil Index is the only Euro-denominated tradable index covering Brazilian stocks, and ranks the 13 most liquid listed on LATIBEX by free-float adjusted market cap. The FTSE LATIBEX TOP Index consists of 15 stocks from the FTSE LATIBEX All-Share Index. It is free-float adjusted and capped at 20% ensuring it meets fund regulatory requirements worldwide to avoid over-concentration in any one stock. Countries covered include Brazil, Chile & Mexico.
Product issuers are increasingly using FTSE indices as the basis for ETFs and other index linked derivative products. Worldwide, FTSE indices are already supporting over 70 ETFs across a range of asset classes on stock exchanges such as LSE, NYSE, Euronext, NASDAQ, and HKeX.
More information about FTSE’s suite of index products is available at www.ftse.com