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The International Securities Exchange (ISE) announced today the launch of their partnership with BlueStar Indexes to develop a family of indexes and use them as the basis for exchange traded products (ETPs) and other index-linked vehicles. The BlueStar Israel Global Index (ticker: BLS), the first index developed through the partnership, provides a comprehensive benchmark for investors to track Israeli and Israeli-linked public companies and serves as the basis for the Market Vectors® Israel ETF (NYSEArca: ISRA®). Such well-known Israeli companies as Teva Pharmaceutical Industries (TASE: TEVA), Perrigo Co. (NDAQ: PRGO), Checkpoint (Nasdaq: CHKP), Amdocs (NYSE: DOX) and Mellanox (Nasdaq: MLNX) are included in the index.
"As ISE ETF Ventures continues to expand its network, it is vital to provide investors the opportunity to capitalize on dynamic markets like Israel," said Kris Monaco, Head of ISE ETF Ventures. "We are thrilled to partner with BlueStar Indexes as they continue to be at the forefront of delivering insight and access to the investable market of publicly-traded Israeli companies."
"We are proud of our partnership with ISE ETF Ventures, as together we have designed a better benchmark for Israeli equities trading worldwide," said Steven Schoenfeld, Founder of BlueStar Indexes. "The commercialization of the BlueStar Israel Global Index will enable investors to capitalize on the broad global footprint of Israeli companies," he added.
The Market Vectors Israel ETF, the first ETF based on the BlueStar Israel Global Index, launched yesterday by Van Eck Associates. ISE worked with BlueStar on the development of the index and shares the responsibility of index calculation, maintenance, and data dissemination. Mark Abssy, Senior Index and ETF Manager of ISE ETF Ventures is on the BlueStar Index Advisory Committee . ISE has contracted with S&P as its index calculation agent. To learn more about ISE ETF Ventures' partnership with BlueStar and BLS, visit www.ise.com/bluestar.
