S&P Israel indexes licensed for use in ETNs

Israel's equity market is attracting investors

The S&P Israel BMI Capped Growth and Value indexes have been licensed for the creation of exchange-traded notes (ETNs) in response to burgeoning investor interest in Israel. Index-linked certificates manager KSM is launching exchange-traded unsecured debt based on the indexes.

"The Israeli economy has been performing well and was very resilient during the downturn," says Michael Orzano, New York-based associate director of global equity indexes at S&P Indices.

Despite a sharp decline in 2011, th

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