Bolsas y Mercados Espaoles (BME) and FTSE Group have launched a new tradable index, FTSE LATIBEX BRASIL. They say it is the only Euro-denominated tradable index covering Brazilian stocks and ranks the most liquid Brazilian securities listed on LATIBEX (the Euro-denominated market for Latin American stocks owned by BME).
At present, 13 stocks make up the FTSE LATIBEX BRASIL Index and the constituents’ weightings in the index are capped at 20 percent at index reviews. Constituents are liquidity-screened to make the index suitable for the creation of financial products, such as certificates and Exchange Traded Funds (ETFs).
At present, other products supported by FTSE LATIBEX TOP are available on markets in: Belgium, Czech Republic, Finland, Germany, Italy, Estonia, Lithuania, Norway and Switzerland.
“This is a decisive step forward in the process of bringing Latin American companies closer to new global liquidity pools through LATIBEX, the Euro-denominated electronic trading platform for Latin American securities,” says Jess Gonzlez Nieto, the Coordinating Director at LATIBEX. “LATIBEX breaks down barriers to trading in Latin American stocks and boasts the same execution and settlement standards as those of the Spanish stock market “.
“FTSE is delighted to have partnered BME to create an innovative new index for international investors looking to gain exposure to one of the best performing emerging markets,” adds Imogen Dillon Hatcher, the Managing Director of FTSE Europe. “The FTSE LATIBEX BRASIL index will offer investors worldwide a new tool which is specifically designed to support structured products and ETFs.”