- KBW Nasdaq Global Bank Index (GBKX)
is the first and only index designed to track the performance of
global systematically important banks
- GBKX is the first joint index
launched since the companies announced their partnership in
April
Keefe Bruyette & Woods (KBW), a Stifel company (NYSE:SF),
and Nasdaq (NASDAQ:NDAQ) today announced the launch of the KBW
Nasdaq Global Bank Index (Ticker:GBKX), the first and only index
designed to track the performance of those banks designated as
global systemically important (G-SIBs) by the Financial Stability
Board and Basel Committee on Banking Supervision. The 28 banks
included in the KBW Nasdaq Global Bank Index represent 45% of the
global investable banking universe and account for approximately
$3T in total market cap.
“Global banks trade together, significantly different than their
domestic peers and until now, there hasn’t been an index available
in the marketplace that exclusively tracks this specific universe,”
said Fred Cannon, Global Director of Research at KBW. “The GBKX is
a substantial benchmark index, as our research shows G-SIBs trade
at a lower valuation than domestic banks, even when adjusting for
profitability. This is due to the unique global regulatory
structure that G-SIBs operate under that exposes them to additional
risks and capital requirements which domestic banks are not
restricted by.”
The 28 banks included in the KBW Nasdaq Global Bank Index are:
Agricultural Bank of China Limited, Banco Bilbao Vizcaya Argentaria
SA, Banco Santander SA, Bank of America Corporation, Bank of China
Limited, Barclays Plc, BNP Paribas SA, Citigroup Inc., Credit
Suisse Group AG, Deutsche Bank AG, HSBC Holdings Plc, Industrial
and Commercial Bank of China Limited, ING Groep N.V., JPMorgan
Chase & Co., Mitsubishi UFJ Financial Group, Inc., Mizuho
Financial Group, Inc., Morgan Stanley, Nordea Bank AB, Royal Bank
of Scotland Group Plc, Société Générale SA, Standard Chartered Plc,
State Street Corporation, Sumitomo Mitsui Financial Group, Inc.,
Bank of New York Mellon Corporation, Goldman Sachs Group, Inc., UBS
Group AG, UniCredit SpA and Wells Fargo & Company.
The KBW Nasdaq Global Bank Index is an equal-weighted index that
has an average yield of 3.14% (as of 7/7/15). While a U.S.-dollar
denominated index, it provides exposure to six different currencies
– the U.S Dollar, Euro, British Pound, Japanese Yen, Swiss Franc
and Swedish Krona. The Index will be rebalanced quarterly and
members will be updated annually on the third Friday in December
based on FSB and the Basel Committee’s update to the list of G-SIBs
published in November.
“The KBW Nasdaq Global Bank Index is an incredibly important
benchmark for market participants who are interested in monitoring
the health of international financial institutions,” said Salil
Donde, Executive Vice President, Nasdaq Global Information
Services. “This is the first of many new and innovative products to
be developed as a result of our strategic partnership with
KBW.”
In addition to the GBKX, there are also two total return
versions of the Index that have been simultaneously launched – KBW
Nasdaq Global Bank Total Return Index (GBKXT) and KBW Nasdaq Global
Bank Net Total Return Index (GBKXN).
The KBW Nasdaq indexes are closely watched benchmarks and are
widely cited in the media as barometers for the strength of the
financial sector. The targeted sectors include banking, asset
management, broker/dealer, insurance, equity REITs and mortgage
finance. With the addition of today’s index, the KBW Nasdaq index
family now includes:
- KBW Nasdaq Global Bank Index (Ticker:
GBKX)
- KBW Nasdaq Bank Index (Ticker:
BKX)
- KBW Nasdaq Regional Banking Index
(Ticker: KRX)
- KBW Nasdaq Capital Markets Index
(Ticker: KSX)
- KBW Nasdaq Insurance Index (Ticker:
KIX)
- KBW Nasdaq Property & Casualty
Index (Ticker: KPX)
- KBW Nasdaq Premium Yield Eq. REIT Index
(Ticker: KYX)
- KBW Nasdaq Financial Sector Dividend
Yield Index (Ticker: KDX)
- KBW Nasdaq Global Financials (ex-U.S.)
Index (Ticker: KGX)
- KBW Nasdaq Mortgage Finance Index
(Ticker: MFX)
About KBW
KBW LLC, a Stifel company, operates in the U.S. and Europe
through its broker dealer subsidiaries, Keefe, Bruyette &
Woods, Inc. and Stifel Nicolaus Europe Limited (“SNEL”), also
trading as Keefe, Bruyette & Woods Europe (“KBW Europe”). Over
the years, KBW has established itself as a leading independent
authority in the banking, insurance, brokerage, asset management,
mortgage banking and specialty finance sectors. Founded in 1962,
the firm maintains industry-leading positions in the areas of
research, corporate finance, mergers and acquisitions as well as
sales and trading in equities securities of financial services
companies.
About Nasdaq Global Information Services
Nasdaq Global Information Services (GIS) leverages reliable,
scalable technology and robust distribution channels to provide
comprehensive benchmarks and market data solutions across asset
classes and regions. We equip financial institutions and investors
with essential market transparency to make informed decisions. Our
Global Data Products business provides innovative real-time and
historical market data products, as well as analytic data solutions
designed to meet new industry challenges. In addition, Nasdaq
Global Indexes span geographies and asset classes to support
financial product sponsors across a wide-spectrum of investable
products and asset managers that measure risk and performance. Our
diverse families include the Dividend Achievers, Global Equity,
Fixed Income, Nordic, Green Economy and Commodity Indexes, based
upon rules-based, transparent methodologies.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading provider of trading,
clearing, exchange technology, listing, information and public
company services across six continents. Through its diverse
portfolio of solutions, Nasdaq enables customers to plan, optimize
and execute their business vision with confidence, using proven
technologies that provide transparency and insight for navigating
today's global capital markets. As the creator of the world's
first electronic stock market, its technology powers more than 70
marketplaces in 50 countries, and 1 in 10 of the world's securities
transactions. Nasdaq is home to more than 3,500 listed companies
with a market value of approximately $9.5 trillion and more than
10,000 corporate clients. To learn more, visit: nasdaq.com/ambition
or business.nasdaq.com.
The information contained above is provided for informational
and educational purposes only, and nothing contained herein should
be construed as investment advice, either on behalf of a particular
financial product or an overall investment strategy. Neither The
NASDAQ OMX Group, Inc. nor any of its affiliates makes any
recommendation to buy or sell any financial product or any
representation about the financial condition of any company or
fund. Statements regarding Nasdaq’s proprietary indexes are not
guarantees of future performance. Actual results may differ
materially from those expressed or implied. Past performance is not
indicative of future results. Investors should undertake their own
due diligence and carefully evaluate companies before investing.
ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
The matters described herein contain forward-looking statements
that are made under the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements about Nasdaq and its products
and offerings. We caution that these statements are not guarantees
of future performance. Actual results may differ materially from
those expressed or implied in the forward-looking statements.
Forward-looking statements involve a number of risks, uncertainties
or other factors beyond Nasdaq’s control. These factors include,
but are not limited to factors detailed in Nasdaq’s annual report
on Form 10-K, and periodic reports filed with the U.S. Securities
and Exchange Commission. We undertake no obligation to release any
revisions to any forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20150713005393/en/
KBW Media:Neil Shapiro,
+1-212-754-5423nshapiro@intermarket.comorNasdaq Media:Joe
Christinat, +1-646-441-5121Joseph.Christinat@nasdaq.com
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