Market operator Nasdaq OMX has launched a global index initiative with the creation of 4,000 US dollar indices.
The firm plans for its Global Index Family to represent more than 98% of the global equity investable marketplace, comprising some 24,000 indices worldwide. They will cover 9,000 securities with a combined float-adjusted market capitalisation of over US$32 trillion and will be broken down by market segment, region, country, size and sector.
Nasdaq OMX executive vice president John Jacobs said the new index offering would strengthen his firms’ position as a global index provider.
“The Nasdaq Global Index Family offers institutional and retail investors, asset managers, traders and other market participants a broad representation of the global investable equity marketplace through efficient access and pricing,” Jacobs said. “Our newest index offering provides additional opportunities for financial product sponsors and portfolio managers to benchmark and track global equities. With the introduction of this comprehensive family of indexes, our index business continues its growth as a premier global index operation."
The index family covers 45 countries classified as developed and emerging markets across the Americas, Europe, Asia-Pacific, the Middle East and Africa. Indices will be calculated with the new technology from Nasdaq OMX’s INET technology arm.
The Global Index Family initiative will offer benchmarks across multiple asset classes and geographies including the Nasdaq Commodity Index family, the Nasdaq OMX Green Economy family and the Nasdaq US All Market Index family.