Deutsche Börse has launched a new exchange-traded fund (ETF) on its Xetra trading platform to help investors gain exposure to the BRIC markets.
The db x-trackers MSCI BRIC TRN equity index ETF is the first ETF benchmarked against global index provider MSCI's BRIC TRN Index.
It is designed to enable investors to participate in the performance of companies with high- and mid-range market capitalisation from the BRIC countries – Brazil, India, Russia and China.
The underlying index is weighted according to free-float market capitalisation. With 320 securities, the index covers approximately 85% of the total market capitalisation of the four countries.
The product offering in Deutsche Börse's XTF segment currently comprises 858 exchange-listed index funds, making it the largest offering of all European stock exchanges.
Deutsche Börse is currently in merger negotiations with exchange group NYSE Euronext. The deal recently won German shareholder approval in a vote in July, bringing the deal one step closer to completion. The European Commission is expected to announce today whether to refer the merger for a more in-depth analysis by competition authorities.