Today the Athens Exchange in partnership with FTSE Group (“FTSE”), the global index provider, announced the introduction of a new index: the FTSE/ATHEX Liquid Mid Index. The new index will be launched on the 3rd November 2008, with a starting value of 2,000 points.
The announcement comes in a period of turbulence for the global financial markets particularly for capital markets.
The FTSE/ATHEX Liquid Mid Index will provide market participants with access to the most liquid stocks taken from the FTSE/ATHEX Mid 40 constituents. This focus offers a lower cost of trading for investors wishing to gain exposure to the mid-cap market.
Spyros Capralos, Chairman, ATHEX, said: “We are committed along with FTSE to further the development of the Greek market. The new index aims to enlighten the most liquid part of the existing FTSE/ATHEX Mid 40 Index and to provide to market participants a new benchmarking tool. The new Index will form the basis for financial products, offering investors additional ways to gain exposure to the Greek market in a liquid and cost-efficient manner. It is in our plans to launch derivative products and ETFs based on this new index.”
Imogen Dillon-Hatcher, Managing Director, FTSE Group EMEA, added: “We are delighted to see the expansion of the successful FTSE/ATHEX partnership. These enhancements come as a result of recent consultation with key market participants and prove FTSE’s commitment to ongoing excellence in the index space. ”
ATHEX will be inviting applications for listing financial products based on the FTSE/ATHEX Liquid Mid Index in due course.
