Bolsas y Mercados Espaoles (BME) and FTSE Group (FTSE), the global index provider, have licensed leading Spanish bank BBVA to create an Exchange Traded Fund (ETF) based on the FTSELatibex Brasil Index. The ETF will be listed on the Spanish Exchange.
The new ETF will track the FTSE Latibex Brasil Index, giving investors direct exposure to these companies, through one investment vehicle.
The FTSE Latibex Brasil ETF is the second Latibex ETF to be licensed. BBVA were previously granted a licence to issue an ETF on the broader Latibex market, the FTSE Latibex Top.
“The launch of this new ETF on the FTSE BRASIL index is a major step forward in broadening BME’s product range and providing investors with new investment opportunities, particularly in the ever more popular ETF segment,” says Jorge Yzaguirre, Head of Equities at BME.
“FTSE is committed to creating innovative indexes which can be used by global investors in a number of ways,” states Imogen Dillon Hatcher, FTSEs Managing Director for EMEA. “We are delighted to collaborate with Bolsa Madrid and BBVA to bring the first ETF tracking the Brazilian market to European investors.”