The Nasdaq Stock Market, Inc. (NASDAQ(r)) (Nasdaq:NDAQ) and Clean Edge, Inc. today announced that First Trust Advisors L.P. has licensed the NASDAQ(r) Clean Edge(r) U.S. Liquid Series Index, an innovative and powerful tool for clean-energy investors, in order to launch a new exchange traded fund (ETF). The First Trust NASDAQ(r) Clean Edge(r) U.S. Liquid Series Index Fund will begin trading in January 2007. The ETF will be managed by First Trust Advisors L.P. and listed on NASDAQ.
The NASDAQ Clean Edge U.S. Liquid Series Fund is designed to correspond to the price and yield performance of the index upon which it is based. ETFs are financial products that trade like shares of stock and can be bought and sold throughout the trading day.
"As the world's economy shifts away from fossil fuel dependency towards efficient, renewable energy sources, investment opportunities are being created daily in this new industry," explains NASDAQ Executive Vice President John Jacobs. "This index, and the ETF based on it, will provide the tools needed to capture the investment opportunities created by this economic shift."
"First Trust is proud to team up with NASDAQ once again to launch this new product on one of the most innovative exchanges in the world," said First Trust Advisors Managing Director Scott Hall. "We have a long and successful history with NASDAQ and hope to continue this great relationship with additional listings of new ETFs in the future."<./p>
"The NASDAQ Clean Edge U.S. index provides a benchmark for investors interested in participating in a range of technology innovations, from advanced batteries and biofuels to solar power and energy efficiency," adds Ron Pernick, Co-Founder and Principal of Clean Edge, Inc.
The NASDAQ Clean Edge U.S. Liquid Series Index (Nasdaq:CELS), developed jointly by NASDAQ and Clean Edge, is designed to track the performance of clean-energy companies that are publicly traded in the U.S. The NASDAQ Clean Edge U.S. Liquid Series Index includes companies engaged in the manufacturing, development, distribution, and installation of emerging clean-energy technologies such as solar photovoltaics, biofuels, and advanced batteries. The four major sub-sectors the index covers are Renewable Fuels and Electricity Generation, Energy Storage & Conversion, Energy Intelligence, and Advanced Energy-Related Materials.
Earlier this year NASDAQ launched a performance benchmark for this sector, known as the NASDAQ Clean Edge U.S. Index (Nasdaq:CLEN). The NASDAQ Clean Edge U.S. Liquid Series Index is designed specifically as a more liquid variation of the performance benchmark, further supporting trading products such as this ETF.
