Deutsche Börse Expands Index Business in the US
Deutsche Börse has launched an index business in the US – a new market for its indices. This is a significant expansion of Deutsche Börse’s index business and comes at a time when an increasing number of institutional and private investors in the US are focusing on international indices. Deutsche Börse will begin licensing its index portfolios to US financial services firms to develop customized derivatives, structured products and exchange traded funds. Van Eck Associates is the first US customer to license the indices and will introduce a market vectors ETF tied to the performance of the DAXglobal Russia+ Index. This tracks the performance of the largest and most liquid American depository receipts (ADRs) and global depository receipts (GDRs) on Russian companies traded on various stock exchanges across the globe as well as index constituents represented by shares listed at the Moscow Interbank Currency Exchange (MICEX). The DAXglobal index family currently comprises, among others, the DAXglobal BRIC Index and the DAXglobal Asia Index.