Nasdaq has teamed up with broker-dealer Keefe, Bruyette & Woods (KBW) to launch a financial technology index, the latest addition to the ‘KBW Nasdaq index family’.
The KBW Nasdaq Financial Technology Index aims to bring investors “the most precise index representation of FinTech available in the market today.”
It will include 49 FinTech firms, including big players like CME Group, CBOE Holdings, Thomson Reuters and MarketAxess.
Dave Gedeon, head of research and development at Nasdaq Global Indexes, explained the firm values the partnership with KBW to create new benchmarks.
The FinTech index is the latest to be launched by Nasdaq and KBW, with the ‘KBW Nasdaq index family’ now consisting of 10 indexes covering several sectors.
Fred Cannon, global director of research at KBW, added the launch of the index reflects the growing interest in FinTech.
He added: “The KFTX provides a relevant benchmark within the FinTech space, which will be valuable to the increasing number of investors closely watching this area.”
The index is to be rebalanced quarterly and members updated in December.