The NASDAQ OMX Group, Inc. and Data Explorers have introduced of the NASDAQ-100 Data Explorers Optimized Index, comprising 100 of the worlds largest, most dynamic non-financial companies.
The NASDAQ-100 Data Explorers Optimized Index offers a tradable benchmark that will enhance liquidity and protect both the long and short investor, the groups said in a joint statement.
The new index is unique because it screens out stocks that are either lacking in liquidity or are relatively expensive to borrow in the stock lending market based on analytics from Data Explorers, a global provider of stock lending and short interest information.
The launch of the NASDAQ-100 Data Explorers Optimized Index offers investors the liquidity of the NASDAQ-100 Index components but with extra measures of liquidity, says John Jacobs, executive vice president of NASDAQ OMX. The inclusion of information from Data Explorers, the worlds premier provider of stock loan data, reflects our constant innovation to improve the usability and effectiveness of our indexes.
Donal Smith, CEO of Data Explorers, adds: We believe the application of our screening methodology to the NASDAQ-100 Data Explorers Optimized Index will help investors improve liquidity and manage risk. We are confident this new index will become a model for the construction of other new indexes and the basis of exchange-traded products.
(CG)