HQ and NASDAQ OMX in strategic cooperation
In cooperation with NASDAQ OMX Stockholm, HQ is to launch Exchange Traded Funds (ETFs). This is the start of a joint, long-term endeavour to provide a large number of products, with exposure to different markets and types of asset that will be quoted and traded on NASDAQ OMX Stockholm. The Swedish market is still young and HQ's ambition is to become the Nordic leader in this field.
Initially HQ will list three ETFs on Nasdaq OMX Stockholm, of which two will be based on the OMXS30 index and one on the Nasdaq 100 index. The listings, which are scheduled for October 1, require final approval from the Swedish Financial Supervisory Authority (Finansinspektionen). ”We are pleased to be able to offer, together with NASDAQ OMX, exchange traded funds that provide private and institutional investors with the same opportunity to obtain straightforward and cost-effective exposure to different types of asset. Internationally, this market is enormous and is growing rapidly. The volume under management in Europe today is approximately 915 billion Swedish kronor", says Mikael König, President and CEO HQ Bank. An exchange traded fund (ETF) is a fund that is traded on a marketplace like a listed share. ETFs are a complement to actively managed funds and offer the investor a straightforward and cost-effective way to obtain exposure to different types of asset. ”Exchange traded funds are the investments of tomorrow. Being able to offer exchange traded funds complements our business and provides clear client benefits. Our ambition going forward is to launch a large number of ETFs based on NASDAQ OMX's indexes, and to assume a position as the market leader in the Nordic region", says Mikael König, President and CEO HQ Bank.