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Bolsas y Mercados Españoles (BME) and FTSE Group (“FTSE”), the global index provider, announce today that they have licensed leading Spanish bank BBVA to create an Exchange Traded Fund (ETF) based on the FTSE Latibex Brasil Index, which will be listed on the Spanish Exchange.
FTSE Latibex Brasil Index was launched in September 2006 and ranks the most liquid Brazilian stocks listed on LATIBEX (the Euro-denominated market for Latin American stocks owned by BME) by free-float adjusted market cap. The new ETF will track the index, giving investors direct exposure to these companies, through one investment vehicle.
The FTSE Latibex Brasil ETF is the second Latibex ETF to be licensed. BBVA were previously granted a licence to issue an ETF on the broader Latibex market, the FTSE Latibex Top.
Jorge Yzaguirre, Head of Equities, BME, said: "The launch of this new ETF on the FTSE BRASIL index is a major step forward in broadening BME's product range and providing investors with new investment opportunities, particularly in the ever more popular ETF segment".
Commenting on today’s business win, Imogen Dillon Hatcher, FTSE’s Managing Director for EMEA said, “FTSE is committed to creating innovative indexes which can be used by global investors in a number of ways. We are delighted to collaborate with Bolsa Madrid and BBVA to bring the first ETF tracking the Brazilian market to European investors.”
More information about the FTSE Latibex Brasil index can be accessed at www.ftse.com/latibex
