The holdings division of the Archipelago Exchange, the all-electronic US exchange, with Ziegler Capital Management, LLC, filed documents with the SEC to create a new technology ETF named The ArcaEx Tech 100.
The ETF is expected to launch in early 2006 under the ticker AXT, and will be listed only on ArcaEx. The ETF will be benchmarked to the ArcaEx Tech 100(SM) Index, formerly the PSE Tech 100 Index, which is owned and operated by Archipelago’s wholly owned subsidiary the Pacific Exchange, Inc.
“As an all-electronic exchange, revolutionizing an industry through technology, it’s a natural fit for Archipelago to launch an ETF based on this successful technology index, and to leverage an asset we acquired in our acquisition of the Pacific Exchange,” said Jerry Putnam, CEO of the Archipelago Exchange.
The ArcaEx Tech 100 Index has been in existence for more than two decades. This price- weighted index is comprised of 100 listed and over-the-counter securities including computer hardware, software, semiconductors, telecommunications, data storage and processing, electronics and biotechnology. Modeled as a multi-industry technology index, the objective of the Index is to provide a performance benchmark of leading technology companies operating across a broad spectrum of industries.