Dow Jones Indexes, announced that the Dow Jones Industrial Average (The Dow) has been licensed to..
Credit Suisse AG, to serve as underlying for an exchange-traded fund (ETF). The Xmtch (IE) on Dow Jones Industrial Average will be available at SIX Swiss Exchange today.
“The Dow Jones Industrial Average is an American icon and the world’s most frequently quoted stock market indicator, with a history of well over 100 years,” said Michael A. Petronella, president, Dow Jones Indexes. “By licensing The Dow, Credit Suisse adds a supreme benchmark to their ETF portfolio, and enables market participants to measure the performance of the U.S. market through 30 well chosen blue chip companies.”
The Dow Jones Industrial Average is a price-weighted index that tracks 30 of the biggest and most widely recognized blue-chip stocks in the United States selected by the editors of “The Dow,” as it is commonly known, belongs to the Dow Jones Averages family. Originally created by Charles Dow in 1896 to gauge the new industrial economy, the term “industrial” is broadly defined so the index accurately reflects the performance of the U.S. stock market today, covering such diverse industries as financial services, technology, retail, entertainment and consumer goods.
To calculate the Dow, the sum of the stock prices are divided by an index divisor, which is used to adjust for stock splits and other corporate actions that may affect the index’s composition.
Source: ETFWorld – Dow Jones Indexes