NYSE Euronext and German bank Commerzbank have launched two Exchange-Traded Funds (ETF) on the Portuguese PSI 20 and PSI 20 Leverage indexes.
According to NYSE Euronext Lisbon, the ETFs will be traded on real time during the entire trading session of the Portuguese Stock Exchange and will be available through financial intermediaries.
The new financial instruments will have no subscription or redemption fees.
Commerzbank will distribute the ETFs on PSI 20 and PSI 20 Leverage indexes among Portuguese and foreign investors through its subsidiary Comstage.
NYSE Euronext Lisbon Cash Market & Listing head Miguel Geraldes said launching this ETF on the PSI 20 means the Portuguese market now owns a new class of products, allowing domestic and international investors to set themselves more effectively in long positions and with leverage.
‘The creation of this new product will boost the liquidity of the equities’ market in the PSI 20 Index,” Geraldes said.