NYSE Euronext today announced the publication of the NYSE Arca Global Airline Index (Index Symbol: AXGAL). AXGAL is a modified equal-dollar weighted index designed to track the performance of listed securities in the global passenger airline sector. This is the first NYSE Arca index since NYSE Euronext’s acquisition of the American Stock Exchange, and utilizes the exchange’s recently integrated systems and new business development initiatives.
“We are very pleased to introduce the NYSE Arca Global Airline Index,” said Lisa Dallmer, NYSE Euronext Senior Vice President, Global Index and Exchange Traded Products. “This new index enables investors to measure the performance of leading airline companies, and shows NYSE Euronext’s commitment to bring innovative products to market.”
Tracking the largest and most liquid common stocks and ADRs across various airline companies from developed market country exchanges, AXGAL provides an index to equity returns of the global passenger airline sector. Currently, the index holds 25 constituents from 14 countries with market capitalizations ranging from $750M to over $9B.
The index uses a modified equal-dollar weighting methodology to ensure that each component exposure is constrained for liquidity, size and domicile. The index is rebalanced quarterly effective for open on the last business day based on closing prices on the third to last business day of each February, May, August & November.
Claymore Advisors LLC is licensed to market U.S. investment products based on the NYSE Arca Global Airline Index.
NYSE Arca calculates and maintains over 250 benchmark indices in support of exchange traded products listed on its market. As the largest US exchange for listing and trading ETFs, NYSE Arca is committed to offering investors the most innovative new investment options with superior pricing and market quality.
