- 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
NEW YORK, July 13, 2015 (GLOBE NEWSWIRE) -- 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.
NDAQG
CONTACT: KBW Media Contact:
Neil Shapiro
+1 (212) 754-5423
nshapiro@intermarket.com
Nasdaq Media Contact:
Joe Christinat
+1 (646) 441-5121
Joseph.Christinat@nasdaq.com
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