STOXX Europe 600 licensed to US-based investment manager ALPS

STOXX Limited, announced that the STOXX Europe 600 Index has been licensed to ALPS, a leading US- based investment management specialist, to serve as the basis for an exchange-traded fund (ETF)….  

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The ETF will be listed on NYSE Arca today.

This is the first time that the STOXX Europe 600 has been licensed to underlie an ETF in the United States. Currently 10 exchange-traded products (ETPs) are available on the index globally.
 
“Licensing the STOXX Europe 600 for the first time for an ETF listed in  the United States  is an important step for us and shows that our products are gaining recognition there,” said Hartmut Graf, chief executive officer, STOXX Limited.  “The  STOXX Europe 600 remains  the most favored  benchmark  for developed Europe. Its liquidity, transparency and rules-based methodology make it an ideal tool for investors seeking exposure to a broad range of European equities.”
 
Tom Carter, president of ALPS Advisors, said: “STOXX Limited has been at the forefront of major market developments for years. We’re particularly pleased to be working with them to bring the benefits of this innovative index to the U.S. marketplace.”
 
The STOXX  Europe 600  Index  represents  the performance of  companies across 18  European  countries: Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom. The index’s 600 components include  the constituents of the STOXX Europe 200 Large, the STOXX Europe 200 Mid and the STOXX Europe 200 Small indices.. The STOXX Europe 600 accounts for about 90% of the market cap for developed Europe.
 
The STOXX Europe 600 Index was launched on Jun. 15, 1998. Daily historical data are available from Dec. 31, 1986. The index is calculated in price, net and gross return versions, and is available in euro, US dollar, Canadian dollar, British pound and Japanese yen.

Source: ETFWorld.com