Market and infrastructure operator, Intercontinental Exchange (ICE), has launched around 600 equity indices covering the qualifying, listed security universe across 16 selected European countries, including the UK.
These equity indices, which are administered by ICE Data Indices, are accessible in ICE’s Custom Index Tool, which provides a number of ways to prototype and back test strategies for multiple use cases, including research, benchmark construction, designing new financial products such as exchange traded funds (ETFs) or enabling services such as direct indexing.
Varun Pawar, vice president and head of ICE data indices, said, “Following the launch of our NYSE US 3000 family of equity indices, providing coverage for Europe and the UK is a critical step in our goal of providing a premier global equity index offering.”
ICE said the new suite of European equity indices is the first stage of the roll-out of the NYSE Global Equity Market Indices, which should provide a transparent, consistent and investible approach to benchmarking the listed security market capitalisation of countries across the globe.
The new suite consists of three types of indices:
- Listed Country Indices, include qualifying securities listed on eligible exchanges in the respective countries and may be used as starting universes for the customization of additional sector, thematic, ESG and factor indices;
- Country Indices, further filter the universe for securities with a matching ICE country of risk, providing single-country index proxies;
- Selected Investible Indices, are also a part of the new group, such as the NYSE UK Index Series, including the NYSE UK 100, 250 and 350 Indices, and the NYSE Europe 600 Index. These Investible indices are built off customised rules that are designed to be relevant for users of specific local or regional benchmarks;
Listed Country and Country indices are further split into indices covering different size segments such as large, mid, small, micro, total market and all cap.
Amanda Hindlian, president of fixed income and data services at ICE, said, “These indices provide a new set of benchmarking options for customers investing in European markets. From the data needed to calculate indices to the sophisticated platforms needed to deliver them to our customers, we offer a full suite of indexing and ETF benchmarking solutions across asset classes and markets globally.”
The new suite will include large cap, mid cap, small cap, micro cap, total market and all cap indices for Listed Country and Country versions of the following countries: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland and the United Kingdom.
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