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New ETF to be Launched in Japan

IndexFunds.com Staff
Thursday, October 26, 2000

The Osaka Securities Exchange (OSE) today inked a license agreement and memorandum of understanding with Dow Jones. The agreement covers the listing of an exchange-traded fund (ETF) based on the Dow Jones Industrial Average. Additionally, the arrangement allows OSE to list futures and options based on the Dow on the OSE derivatives market.

"With the listing of an ETF and futures and options based on the Dow Jones Industrial Average we offer products based on foreign stock indexes, which have not yet existed in Japan," said Goro Tatsumi, President and CEO of OSE.

Today's memorandum of understanding also covers the listing of other Dow Jones indexes, such as the Dow Jones Global Titans Index, on OSE. Presumably, today's agreement paves the way for Japanese investors to have access to a new family of ETFs listed and traded on OSE.

"We are pleased that Japanese investors will now be able to trade derivatives based on the Dow Jones Industrial Average," said Peter Kann, Chairman and CEO of Dow Jones & Company.

The OSE said it expects the ETF and futures and options based on the Dow Jones Industrial Average to begin trading in early 2001.