The Nasdaq Stock Market has launched a Nasdaq-100 European Tracker, an exchange-traded fund (ETF), on the Nasdaq Europe exchange today under the symbol EQQQ. The fund is designed to follow the Nasdaq 100 index and is composed of the top hundred non-financial services companies listed on Nasdaq.The fund is a European version of the world’s most actively traded ETF and is authorised as a fund in the UK, Belgium and Ireland, It is denominated in euros and will clear and settle in Europe.
EQQQ will provide European investors with low cost access to the Nasdaq 100 index, said John Jacobs, chief executive of Nasdaq financial products. “There is great potential in the European market which has accounted for the majority of new ETF product launches in 2002,” said Jacobs. “Our intention is that EQQQ will follow the success of our US product.”
ETFs are used as a diversified investment tool for private investors and offer a variety of different portfolio strategies, including shorting and leveraging index exposure within hedge strategies.
Research from US investment bank Morgan Stanley published last month found that EFT listings in Europe have grown from around $450 million in April 2000 to $9.5 billion by the end of October this year.
More on Structured Products
Risk comparisons must be made easier under Priips KID, says AMF
JAC calls on regulators to co-ordinate cost disclosure rules in KID with Mifid II
Capital-at-risk product comes with an unusually long 10-year maturity
Issuer’s capital-at-risk product with quarterly coupons reviewed
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.