Deutsche Börse today announced the DAX Index has been licensed to Recon Capital Partners to underlie an exchange-traded fund (ETF) in the U.S. The Recon Capital DAX Germany ETF is available today on Nasdaq.
“Germany continues to be among the most promising and compelling economies in Europe. As the trusted measure of German blue-chips, DAX is one of the leading indices for financial products in the world. For the first time, it underlies ETFs in three key financial centers in Europe, Asia and now the United States,” said Hartmut Graf, chief executive officer, STOXX Limited. STOXX Ltd. is the marketing agent for the indices of Deutsche Börse AG and SIX, including the DAX and SMI indices.
“Recon Capital focuses on using its investment expertise and operational infrastructure to deliver market-driven, value-added products that meet the evolving needs of global investors,” said Garrett Paolella, CEO of Recon Capital. “That is why we selected DAX for our new ETF as it will give U.S. investors access to the leading companies in Germany."
The DAX measures the development of the 30 largest and most liquid companies on the German equities market and represents around 80 percent of the market capitalization in Germany. It currently serves as the basis for more than 135,000 financial products and is one of the largest underlyings for derivatives globally.
For more information, please visit www.dax-indices.com.