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Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that KB Securities has selected the NYSE FANG+® Daily 2x Leveraged Index (Interest Rate Adjusted Total Return) for its KB Leverage FANG Plus ETN(H).
The NYSE FANG+Daily 2x Leveraged Index (Interest Rate Adjusted TR) delivers a daily return that is approximately twice that of the NYSE FANG+ Index (Total Return) with the application of an overnight interest rate to account for the leverage. The NYSE FANG+ Index (TR) is an equal-dollar weighted index with the objective of tracking the performance of highly-traded growth stocks of technology and tech-enabled companies in the technology, media & communications and consumer discretionary sectors. The KB Leverage FANG Plus ETN(H) began trading on April 19, 2022.
KB Securities, a wholly owned subsidiary of KB Financial Group, is a leading investment bank in Korea that provides asset management services to retail customers as well as financing advisory and investment services to corporate customers. KB Securities is committed to providing investment products that are tailored to their clients’ demands across various asset classes.
“This new ETN will allow Korean market participants to access key ‘FAANG’ stocks, such as Facebook (Meta Platforms), Apple, Amazon, Netflix and Google (Alphabet), through a single instrument,” said Magnus Cattan, Head of ICE Fixed Income & Data Services, Asia Pacific. “We are pleased to have worked with one of Korea’s largest investment banks to launch the first ETN that tracks an ICE index in the country.”
“The KB Leverage FANG Plus ETN(H) will provide our investors access to some of the most recognizable companies in the world,” said Ho Young Kim, Head of Equity Trading at KB Securities. “We believe that this product offers Korean market participants a unique tool to capture the performance of U.S. listed technology and tech-enabled companies.”
ICE’s global family of indices serve as the performance benchmark for $1.5 trillion in fund assets managed by investors around the globe. For more information about ICE’s Indices, please visit: https://www.theice.com/market-data/indices.
