STOCKHOLM, Sweden, Sept. 14, 2009 (GLOBE NEWSWIRE) -- NASDAQ OMX Nordic, part of the NASDAQ OMX Group (Nasdaq:NDAQ), together with HQ Bank today announced the launch of a new portfolio of Exchange Traded Funds (ETFs) that will allow Nordic investors to trade internationally recognized indices in local currency. The ETFs issued by HQ Bank will be based on indices calculated by NASDAQ OMX and traded on NASDAQ OMX Stockholm.
Trading of the ETFs from HQ Bank will start beginning of October 2009 (pending regulatory approvals). Between launch in October and January 2010 HQ Bank plans to list around ten ETFs at NASDAQ OMX Stockholm.
Jenny Rosberg, Deputy CEO at NASDAQ OMX Nordic, said: "Through this partnership with HQ Bank we are able to offer both institutional and retail investors in the Nordics the same trading opportunities in ETFs as investors around the world. The expansion of our ETF offering well matches customer needs and is an important step in developing our local market, which holds great potential for this type of product."
Mikael Konig, CEO at HQ Bank, said: "This launch marks an important milestone for the Swedish ETF market, and we look forward to continue our collaboration with NASDAQ OMX to grow our offering in this space. Our ETF portfolio provides a perfect complement to managed funds, and is an investor-friendly and cost-efficient tool for index investments as the products are traded the same way as equities on a liquid market."
About Exchange Traded Funds
An Exchange Traded Fund is a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange. ETFs are a complement to actively managed funds and provide investors with the possibility to invest in well known global indices in the local currency. In the U.S., ETFs represent one of the most traded instruments with an annual total turnover of over 9000 billion USD in 2008. In Europe it is one of the fastest growing instruments in recent years and has more than ten folded its turnover since 2002, reaching an annual turnover of over 400 billion EUR in 2008. ETFs have been available in the U.S. since 1993 and in Europe since 1999.
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with over 3,700 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are no limited to, statements about NASDAQ OMX's products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements. There can be no assurance that the FSA will give the NASDAQ OMX applicant the authorization and permissions which it seeks.
CONTACT: The NASDAQ OMX Group, Inc. Media Contacts: Anna Rasin +46 8 405 66 12 email@example.com Carl Norell +46 8 405 66 39 firstname.lastname@example.org
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