Bolsas y Mercados Españoles and the FTSE Group have launched the first euro-denominated tradable index covering Brazilian stocks, the FTSE Latibex Brasil.The index, which is designed to be suitable for the creation of structured and listed financial products, tracks the most liquid Brazilian stocks listed on Latibex, the Euro-denominated market for Latin American stocks owned by BME. Thirteen stocks comprise the index at present, with weightings capped at 20% at index reviews.
The launch is the answer to investors' growing interest in Brazil and meets current demand for an index of Brazilian blue chips listed on Latibex, said the firms.
Latibex director Jesús González Nieto said, "This is a decisive step forward in the process of bringing Latin American companies closer to new global liquidity pools through Latibex. Latibex breaks down barriers to trading in Latin American stocks and boasts the same execution and settlement standards as those of the Spanish stock market."
“The FTSE Latibex Brasil index will offer investors worldwide a new tool which is specifically designed to support structured products and ETFs," added FTSE Europe md Imogen Dillon Hatcher.
