NASDAQ OMX starts trading short- and long-position ETFs based on OMXS30
NASDAQ OMX Starts Trading Short- And Long-Position ETFs Based On OMXS30
NASDAQ OMX Stockholm AB, part of the NASDAQ OMX Group (NASDAQ:NDAQ), today starts trading in two new Exchange Traded Funds (ETFs), HQ OMXS30 Double Long and HQ OMXS30 Double Short, enabling Nordic investors to trade internationally recognized indices in local currency.
The two ETFs issued by HQ Bank will be traded on NASDAQ OMX Stockholm and are based on the OMXS30 index which is calculated by NASDAQ OMX. The OMXS30 index is the third most traded domestic index in Europe with more than 400 million derivatives contracts since its start in 1986.
HQ OMXS30 Double Long and HQ OMXS30 Double Short are leveraged exchange traded funds that offer twice the return of the daily change in the underlying OMXS30 index. The leverage increases the potential return but also the risk level.
Jenny Rosberg, Deputy CEO at NASDAQ OMX Nordic said, “We are happy to cooperate with HQ Bank in order to expand the range of ETFs available for our investors. ETFs represent an untapped market potential in the Nordic region, and we are planning to launch more products that will give Nordic institutional and retail investors the opportunity to trade world leading brands in their home markets.”
Mikael König, CEO at HQ Bank said, “ETFs are the savings form of the future. As trading products, ETFs are complementary to our offering and will give tangible customer value. The ambition is to launch a wide number of ETFs based on NASDAQ OMX's indices going forward. Our aim is to take a leading position within this area.”